Emerald Oil brings forward

Gazi Anowarul Hoque :
Rice bran edible oil producer Emerald Oil Industries Limited has increased its production by 25 per cent in one year.
The publicly traded company disclosed the information on the Dhaka Stock Exchange’s (DSE) website on Sunday.
DSE published the financial report of the company for the first six months of FY24 and 75 per cent of production capacity had been utilized from July 2023 to December 2023, while 50 per cent of production capacity was utilized from July 2022 to December 2022.
The company said its earnings per share (EPS) were Tk 1.67 for July-December 2023, as against Tk 0.41 for July-December 2022.
The company made a net profit of Tk 15.24 crore during the first half of FY24, compared to a profit of Tk 3.74 crore in the same period of the previous year.
EPS was Tk 0.20 for October-December 2023 as against Tk. 0.19 for October-December 2022. The Company Net operating cash flow per shares (NOCFPS) was negative Tk 0.14 for July-December 2023 as against negative Tk 0.78 for July-December 2022.
Net asset value (NAV) per share was negative Tk 8.70 as on December 31, 2023 and negative Tk 10.37 as on June 30, 2023.
Emerald Oil Industries Ltd had halted its production in 2017 owing to a shortage of working capital following several scams of its sponsors.
Later, the publicly traded company announced to resume its production on June 28, 2022, after an investment was poured in from the Japanese firm Minori Bangladesh following an intervention of the securities regulator.
Back in March 2021, the stock regulator BSEC had restructured the board of the company by appointing five independent directors on its board in a bid to bring the non-functioning company back to business and protect the interest of its investors.
Later, the company published its annual financial statement in November 2023. The previous financial report of this company had come out in 2016.
Incorporated in 2008, Emerald Oil Industries Ltd went into the production of rice bran oil under the brand “Spondon” back in 2011. Listed in 2014, the company had raised Tk 20 crore through IPO from the capital market.