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CSE news on DESCO
2024-11-20: Record Date tomorrow (21.11.2024)
DESCO: Trading of the shares of the Company will remain suspended on its record date i.e., 21.11.2024. Trading of the shares of the Company will resume on 24.11.2024.
2024-11-18: Spot trade from tomorrow (19.11.2024)
DESCO: Trading of the shares of the Company will be allowed only in the Spot Market from 19.11.2024 to 20.11.2024 as the record date of the Company is on 21.11.2024.
2024-11-14: Un-audited Financial Statements
DESCO: (Quarter 1) As per un-audited financial statements of the Company, EPS was Tk. (0.81) for July-September 2024 as against Tk. (3.82) for July-September 2023; NOCFPS was Tk. 2.15 for July-September 2024 as against Tk. 2.94 for July-September 2023. NAV per share was Tk. 37.12 as on September 30, 2024 and Tk. 37.92 as on June 30, 2024. EPS has been increased due to increase in distribution revenue.
2024-11-10: Board Meeting
DESCO: The Company has informed that the Board Meeting of the Company will be held on November 13, 2024 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2024.
2024-11-04: Appointment of Managing Director
DESCO: The company has informed that Brig. Gen. Shameem Ahmed, NDC, PSC (Retd.) joined as Managing Director of the company on October 30, 2024
2024-10-27: Qualified Opinion and Emphasis of Matters
DESCO: The auditor of the company has given the ''Qualified Opinion'' and ''Emphasis of Matters'' paragraphs in the Auditor's Report of the company for the year ended June 30, 2024. To view the details, please visit: https://www.cse.com.bd/upload_media/DESCO_2024.pdf
2024-10-15: (Correction) Recommendation of No Dividend
DESCO:(Correction) The Board of Directors has recommended No dividend for the year ended June 30, 2024. Record Date: 21.11.2024. Date of AGM: 25.01.2025, Time:10:00 AM. Venue: Digital Platform. The Company has also reported EPS of Tk. (12.72), NAV per share of Tk. 37.92 and NOCFPS of Tk. 15.49 for the year ended June 30, 2024 as against Tk. (13.61), Tk. 50.62 and Tk. 8.72 respectively for the year ended June 30, 2023. The company has also informed that it incurred loss in current year and retained earnings is negative, as such the Board of Directors could not be able to recommend any dividend this year. EPS has improved marginally as distribution revenue grew slightly and foreign exchange fluctuation losses decreased.
2024-10-15: CB Free
DESCO: Please note that there will be no price limit today 15.10.2024 on the trading of the shares of the Company following its corporate declaration.
2024-10-15: Recommendation of No Dividend
DESCO: The Board of Directors has recommended No dividend for the year ended June 30, 2024. Record Date: 21.11.2024. Date of AGM: 25.01.2025, Time:10:00 AM. Venue: Digital Platform. The Company has also reported EPS of Tk. (12.72), NAV per share of Tk. 37.92 and NOCFPS of Tk. 15.49 for the year ended June 30, 2024 as against Tk. (13.61), Tk. 50.62 and Tk. 8.72 respectively for the year ended June 30, 2023. he company has also informed that it incurred loss in current year and retained earnings is negative, as such the Board of Directors could not be able to recommend any dividend this year. EPS has improved marginally as distribution revenue grew slightly and foreign exchange fluctuation losses decreased.
2024-10-09: Reschedule of Board Meeting
DESCO: The Company has further informed that due to some unavoidable circumstances the Board Meeting of the Company will be held on October 14, 2024 instead of October 10, 2024 to consider, among others, audited financial statements of the company for the year ended June 30, 2024. Other things will remain unchanged.
2024-10-03: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 10, 2024 at 5:00 PM to consider, among others, audited financial statements of the company for the year ended June 30, 2024.
2024-07-11: BSEC's consent to issue Irredeemable Non-Cumulative Preference Shares
DESCO: The company has informed that Bangladesh Securities and Exchange Commission (BSEC) has accorded its consent for issuance of 60,76,93,513 (Sixty crore seventy-six lac ninety-three thousand five hundred thirteen) number of Irredeemable Non-Cumulative Preference Shares of Tk. 10 each at par totaling Tk. 6,076,935,130.00 (Six hundred and seven crores sixty-nine lac thirty-five thousand one hundred and thirty) in favor of Government of Bangladesh represented by Secretary, Power Division, Ministry of Power, Energy and Mineral Resources against GOB equity.
2024-06-30: Appointment of Chairman
DESCO: The company has informed that Dr. Syed Masum Ahmed Choudhury, ndc, Additional Secretary of Government of the People's Republic of Bangladesh has been appointed as the Chairman of the Board of Directors of the Company with effect from 26.06.2024.
2024-06-04: Cash Dividend Disbursement
DESCO: The Company has informed that it has disbursed the Cash Dividend for the year ended June 30, 2023 to the respective shareholders.
2024-05-02: Un-audited Financial Statements
DESCO: (Quarter 3) As per the Un-audited Financial Statements of the company, EPS was Tk. (1.89) for January-March 2024 as against Tk. (3.65) for January-March 2023; EPS was Tk. (6.81) for July 2023-March 2024 as against Tk. (3.44) for July 2022-March 2023. NOCFPS was Tk. 1.99 for July 2023-March 2024 as against Tk. 1.75 for July 2022-March 2023. NAV per share was Tk. 43.51 as on March 31, 2024 and Tk. 50.62 as on June 30, 2023. EPS has significantly declined due to increase in Operating Expenses, Foreign Exchange Fluctuation Loss and Debt Interest.
2024-04-28: Board Meeting
DESCO: The Company has informed that the Board Meeting of the Company will be held on April 30, 2024 at 04:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2024.
2024-01-28: Cont-Un-audited HY A/Cs
DESCO(cont):EPS has been decreased significantly due to foreign exchange fluctuation loss and sharp fall in distribution revenue due to the disproportional increase in bulk and retail tariff. (electricity price). NOCFPS has been decreased due to decrease in distribution revenue and higher payment to suppliers.(end)
2024-01-28: Un-audited HY A/Cs
DESCO: (Quarter 2) As per un-audited half yearly accounts of the company, EPS was Tk. (1.10) for October-December 2023 as against Tk. (0.08) for October-December 2022; EPS was Tk. (4.92) for July-December 2023 as against Tk. 0.21 for July-December 2022. NOCFPS was Tk. 2.51 for July-December 2023 as against Tk. 3.59 for July-December 2022. NAV per share was Tk. 45.72 as on December 31, 2023 and Tk. 50.62 as on June 30, 2023. Reasons for deviation in EPS and NOCFPS:(cont)
2024-01-23: Board Meeting
DESCO: The company has informed that the Board Meeting of the Company will be held on January 27, 2024 at 11:00 AM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2023.
2024-01-09: Credit Rating
DESCO: Credit Rating Information and Services Limited (CRISL) has assigned the rating to the Company Ltd. as ''A'' in the long term and ''ST-3'' in the short term along with stable outlook in consideration of its audited financials up to June 30, 2023; unaudited financial up to September 30, 2023 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
2023-12-06: Cont-Special resolution to place in AGM in order to issue preference shares
DESCO: (cont) 60,76,93,513 nos of Irredeemable Non-Cumulative Preference Share of Tk. 10 each amounting Tk. 607,69,35,130 in favour of Secretary, Power Division, Ministry of Power, Energy and Mineral Resources (MPEMR), Government of Bangladesh with following dividend rate against GoB Equity as per letter Power Division, MPEMR under memo no-27.00.0000.088.36.002.20.648 Dated- 11/09/2023 subject to approval of the Bangladesh Securities and Exchange Commission (BSEC) and complying with relevant laws and rules etc. Dividend of Preference share = [Preference Share Capital / (Ordinary Share Capital + Preference share capital)] * 15% of the Net Profit After Tax.(end)
2023-12-06: Special resolution to place in AGM in order to issue preference shares
DESCO: The company has informed that the Board of Directors of the company in its meeting held on 05 December 2023 recommended some special resolutions for adoption of the shareholders in next Annual General Meeting in order to issue Preference Shares against GOB equity. a. Clause III(c)(8)(v) of Memorandum of Association and Clause 8 of Articles of Association of the company: Proposed: The Authorized Shares Capital of the Company is only Tk. 2000,00,00,000 divided into 50,00,00,000 ordinary shares amounting Tk. 500,00,00,000 of Tk. 10 each and 150,00,00,000 preference shares amounting Tk. 1,500,00,00,000 of Tk. 10 each. b. Resolved that the consent of the members of the company be and is hereby accorded for issuance of the (cont)
2023-11-23: Change of contact details of Company Secretary
DESCO: Dhaka Electric Supply Company Ltd. has updated the contact number for the Company Secretary, which is now 02-8900330, replacing the previous one.
2023-11-22: Record Date tomorrow (23.11.2023)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will remain suspended on its record date i.e., 23.11.2023. Trading of the shares of the Company will resume on 26.11.2023.
2023-11-20: Spot trade from tomorrow (21.11.2023)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will be allowed only in the Spot Market from 21.11.2023 to 22.11.2023 as the record date of the Company is on 23.11.2023.
2023-11-19: Qualified Opinion and Emphasis of Matter
DESCO: The auditor of the company has given the "Qualified Opinion and Emphasis of Matter" paragraphs in the Auditor's Report of the company for the year ended June 30, 2023. To view the details, please visit: https://www.cse.com.bd/upload_media/EM_of_Dhaka_Electric_Supply_Company_Limited_(DESCO)_for_the_year_ended_on_30_June_2023_.pdf
2023-11-15: Un-audited Financial Statements
DESCO: (Quarter 1) As per un-audited financial statements of the Company, EPS was Tk. (3.82) for July-September 2023 as against Tk. 0.29 for July-September 2022; NOCFPS was Tk. 2.94 for July-September 2023 as against Tk. 5.82 for July-September 2022. NAV per share was Tk. 46.81 as on September 30, 2023 and Tk. 50.62 as on June 30, 2023. Reasons for deviation in EPS and NOCFPS: ): EPS has decreased due to foreign exchange fluctuation loss and sharp fall in distribution revenue due to the disproportional increase in bulk and retail tariff (electricity price). In the un-audited financial period, bulk tariff increased by 28.08% while retail tariff increased by 15.76%. NOCFPS has been decreased due to lower receipt from distribution revenue.
2023-11-09: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on November 14, 2023 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2023.
2023-10-25: Announcement of 27th AGM
DESCO: Refer to their earlier news disseminated by CSE on 16.10.2023 regarding recommendation of dividend, Dhaka Electric Supply Company Ltd. has further informed that the 27th AGM of the Company will be held on January 27, 2024. Time: 10:00 AM, Venue: Digital Platform. Other information will remain unchanged.
2023-10-17: Recommendation of Dividend (Additional Information)
DESCO: Refer to their earlier news disseminated by CSE on 16.10.2023 regarding Recommendation of Dividend, the Company has further informed the following: Quantity of shares of sponsor: 26,89,88,757 shares. Quantity of shares of Ordinary Shareholders: 12,85,81,047 shares. Dividend payable to Ordinary Shareholders: Tk. 12,85,81,047.00.
2023-10-16: CB Free
DESCO: Please note that there will be no price limit today 16.10.2023 on the trading of the shares of the company following its corporate declaration. However, the floor price shall be applicable accordingly.
2023-10-16: Cont-Recommendation of Dividend
DESCO(cont): Reasons for significant deviations: EPS has decreased significantly due to Foreign Exchange Fluctuation Loss and sharp fall in distribution revenue due to the disproportional increase in bulk and retail tariff (electricity price) and in the audited financial year, bulk tariff increased by 28.08% while retail tariff increased by 15.76%.(end)
2023-10-16: Recommendation of Dividend
DESCO: The Board of Directors has recommended 10% cash dividend for the ordinary shareholders except sponsor shareholder for the year ended June 30, 2023. Record Date: 23.11.2023. Date of AGM will be notified later. The Company has also reported EPS of Tk. (13.61), NAV per share of Tk. 50.62 and NOCFPS of Tk. 8.72 for the year ended June 30, 2023 as against Tk. 1.59, Tk. 65.96 and Tk. 13.09 respectively for the year ended June 30, 2022.(cont)
2023-10-09: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 15, 2023 at 4:00 PM to consider, among others, audited financial statements of the company for the year ended June 30, 2023.
2023-05-02: Cont-Un-audited Financial Statements
DESCO: (Quarter 3) (cont) Reasons for deviation: EPS has been decreased significantly compared to last year due to asymmetric increase in bulk/purchase tariff rate than retail tariff rate. NOCFPS has been decreased in the FY 2022-23 compare to last FY due to increase in interest payment, employee expenses and decrease in other operating incomes.(end)
2023-05-02: Un-audited Financial Statements
DESCO: (Quarter 3) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. (3.65) for January-March 2023 as against Tk. 0.05 for January-March 2022; EPS was Tk. (3.44) for July 2022-March 2023 as against Tk. 0.56 for July 2021-March 2022. NOCFPS was Tk. 1.75 for July 2022-March 2023 as against Tk. 7.21 for July 2021-March 2022. NAV per share was Tk. 62.45 as on March 31, 2023 and Tk. 65.96 as on June 30, 2022. (cont)
2023-04-26: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on April 30, 2023 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2023.
2023-02-19: Cash Dividend Disbursement
DESCO: Dhaka Electric Supply Company Limited has informed that it has disbursed the cash dividend for the year ended on June 30, 2022 to the respective shareholders' Bank Accounts through Fund Transfer/BEFTN.
2023-01-30: Un-audited HY A/Cs
DESCO: (Quarter 2) As per un-audited half yearly accounts of Dhaka Electric Supply Company Limited, EPS was Tk. (0.08) for October-December, 2022 as against Tk. 0.37 for October-December, 2021; EPS was Tk. 0.21 for July-December, 2022 as against Tk. 0.51 for July-December, 2021. NOCFPS was Tk. 3.59 for July-December, 2022 as against Tk. 4.82 for July-December, 2021. NAV per share was Tk. 66.08 as on December 31, 2022 and Tk. 65.96 as on June 30, 2022.
2022-12-28: Credit Rating
DESCO: Credit Rating Information and Services Limited (CRISL) has rated Dhaka Electric Supply Company Ltd. as "AA-" in the long term and "ST-2" in the short term along with stable outlook in consideration of its audited financials up to June 30, 2022; unaudited financial up to September 30, 2022 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
2022-11-16: Record Date tomorrow (17.11.2022)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will remain suspended on its record date i.e., 17.11.2022. Trading of the shares of the Company will resume on 20.11.2022.
2022-11-15: Un-audited Financial Statements
DESCO: (Quarter 1) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 0.29 for July-September 2022 as against Tk. 0.14 for July-September 2021; NOCFPS was Tk. 5.82 for July-September 2022 as against Tk. 4.91 for July-September 2021. NAV per share was Tk. 66.26 as on September 30, 2022 and Tk. 65.96 as on June 30, 2022. Reasons for deviation in EPS and NOCFPS: Earing per Share (EPS) has been increased due to increase in sales volume and other operating income. Net Operating Cash Flow per Share (NOCFPS) has been increased due to higher collection from consumers.
2022-11-14: Spot trade from tomorrow (15.11.2022)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will be allowed only in the Spot Market from 15.11.2022 to 16.11.2022 as the record date of the Company is on 17.11.2022.
2022-11-09: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on November 14, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2022.
2022-10-25: Qualified Opinion
DESCO: The auditor of the Dhaka Electric Supply Company Ltd. has given the "Qualified Opinion" paragraphs in the auditor's report for the year ended June 30, 2022. Basis for Qualified Opinion: The company approved Workers Profit Participation Fund (WPPF) in the year 2013 as per the amendment made in section-232 of Labour Law-2006 and started to provide provision in the Fund from the FY 2017-18. However, no provision was made against Fund for a total of four (04) Financial Years from 2013-14 to 2016-17. Hence, liability of the company has been understated by the shortfall amount of Taka 17,86,32,872 for the said Financial Years.
2022-10-16: CB Free
DESCO: Please note that there will be no price limit today 16.10.2022 on the trading of the shares of the company following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/39 dated July 28, 2022, the floor price shall be applicable accordingly.
2022-10-16: Cont-Recommendation of Dividend
DESCO(cont): Reasons for significant deviations: 1. EPS has decreased by Tk.0.27 from the FY2020-21 ended on 30 June 2021. The EPS has decreased due to higher deferred tax provision made as per income tax law. 2. Net Operating Cash Flow per Share (NOCFPS) is Tk. 13.09 which has decreased by Tk. 1.73 from the financial position on 30 June 2021.The NOCFPS of the company has decreased as the company paid Tk. 523,18,96,919 more for energy purchase but received Tk.262,24,01,486 more for energy sales compare to last FY.(end)
2022-10-16: Recommendation of Dividend
DESCO: The Board of Directors has recommended 10% cash dividend for the year ended on June 30, 2022. Date of AGM: 14.01.2023, Time: 10:00 AM, Venue: Digital Platform, Record Date: 17.11.2022. The Company has also reported EPS of Tk.1.59, NAV per share of Tk. 65.96 and NOCFPS of Tk. 13.09 for the year ended on June 30, 2022 as against Tk. 1.86, Tk. 65.24 and Tk. 14.82 respectively for the same period of the previous year.(cont)
2022-10-10: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 13, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
2022-07-27: Appointment of Chairman
DESCO: Dhaka Electric Supply Company Ltd. has informed that Mr. Md. Nizam Uddin, Additional Secretary of Government of the People's Republic of Bangladesh has been appointed as the Chairman of the Board of Directors of the Company.
2022-04-27: Un-audited Financial Statements
DESCO: (Quarter 3) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 0.05 for January-March 2022 as against Tk. 0.12 for January-March 2021; EPS was Tk. 0.56 for July 2021-March 2022 as against Tk. 0.43 for July 2020-March 2021. NOCFPS was Tk. 7.21 for July 2021-March 2022 as against Tk. 10.84 for July 2020-March 2021. NAV per share was Tk. 64.86 as on March 31, 2022 and Tk. 65.24 as on June 30, 2021. Reason for Significant deviation in EPS and NOCFPS: EPS increased due to increase in sales as well as increase in FDR and STD interest. NOCFPS decreased due to decrease in received from operating and non-operating activities and increase in the payment of interest of long-term loan.
2022-04-21: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on April 26, 2022 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2022.
2022-02-15: Cash Dividend Disbursement
DESCO: Dhaka Electric Supply Company Limited has informed that it has disbursed the cash dividend for the year ended on June 30, 2021 to the respective shareholders' Bank Accounts through Fund Transfer/BEFTN.
2022-02-02: Appointment of Chairman
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board of Directors of the Company has appointed Mr. A.T.M. Mostafa Kamal, Additional Secretary of Government of the People's Republic of Bangladesh, as a Director as well as the Chairman of the Board of Directors of the Company with effect from February 01, 2022.
2022-02-01: Cont-Un-audited HY A/Cs
DESCO(cont): The Company also informed that EPS has increased compared to last year due to increase in electricity sales revenue, other operating revenue and interest & miscellaneous income. Net Operating Cash Flow per share (NOCFPS) has declined due to higher payments in the power purchase and loan interest than last year.(end)
2022-02-01: Un-audited HY A/Cs
DESCO: (Quarter 2) As per un-audited half yearly accounts of Dhaka Electric Supply Company Limited, EPS was Tk. 0.37 for October-December 2021 as against Tk. 0.05 for October-December 2020; EPS was Tk. 0.51 for July-December 2021 as against Tk. 0.31 for July-December 2020. NOCFPS was Tk. 4.82 for July-December 2021 as against Tk. 6.95 for July-December 2020. NAV per share was Tk. 65.79 as on December 31, 2021 and Tk. 65.24 as on June 30, 2021.(cont)
2022-01-26: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on January 31, 2022 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2021.
2021-11-17: Record Date tomorrow (18.11.2021)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will remain suspended on its record date i.e., 18.11.2021. Trading of the shares of the Company will resume on 21.11.2021.
2021-11-15: Spot trade from tomorrow (16.11.2021)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will be allowed only in the Spot Market from 16.11.2021 to 17.11.2021 as the record date of the Company is on 18.11.2021.
2021-11-14: Un-audited Financial Statements
DESCO: (Quarter 1) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 0.14 for July-September 2021 as against Tk. 0.27 for July-September 2020; NOCFPS was Tk. 4.91 for July-September 2021 as against Tk. 4.71 for July-September 2020. NAV per share was Tk. 65.40 as on September 30, 2021 and Tk. 65.24 as on June 30, 2021.
2021-11-07: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on November 11, 2021 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2021.
2021-11-01: Cont-Auditor's Opinion
DESCO(cont): which we have calculated amounting Tk. 201,366,278. As a result the company understates its liability by the same amount. 2. As per Labor Law-2006 (amendment 2013) Section 234(1) (b), an entity should pay amount of WPPF within 9 month of the close of every year. But the company did not pay amount of WPPF TK. 141,405,925 for which the entity didn't charge any interest as per section 240(3).'' (end)
2021-11-01: Auditor's Opinion
DESCO: The auditor of Dhaka Electric Supply Company Ltd. has given the "Qualified Opinion" in the audit report for the year ended on 30 June, 2021. ''Qualified Opinion: 1. In the year 2013 an amendment has been made in section-232 of Labor Law-2006. Due to the amendment DESCO requires to maintain Workers Profit Participation Fund (WPPF). The company approves the requirement in this year and makes provision for 2017-18 and 2019-20. But the company didn't make provision for the years 2013-14 to 2016-17(cont)
2021-10-17: CB Free
DESCO: Please note that there will be no price limit today 17.10.2021 on the trading of the shares of the Company following its corporate declaration.
2021-10-17: Cont-Recommendation of Dividend
DESCO(cont):Revenue from operation increases due to increase of retail tariff and consumers. Operating profit decreases due to increase of salary and allowance, finance cost and depreciation. Income from other source (Net) increase due to increase of consumers. Net Income increases due to increase of sales volume and decrease of corporate tax rate. The Company has also reported that Before Revaluation NAV Per Share Tk. 47.99 and After Revaluation NAV Per Share Tk. 65.24.(end)
2021-10-17: Recommendation of Dividend
DESCO: The Board of Directors has recommended 10% cash dividend for the year ended on June 30, 2021. Date of AGM: 15.01.2022, Time: 10:00 AM, Venue: Digital Platform, Record Date: 18.11.2021. The Company has also reported EPS of Tk. 1.86, NAV per share of Tk. 65.24 and NOCFPS of Tk. 14.82 for the year ended on June 30, 2021 as against Tk. 1.15, Tk. 46.76 and Tk. 11.10 respectively for the same period of the previous year. Reasons for significant deviations: EPS increases due to increase of sales volume as well as sales revenue.(cont)
2021-10-13: Revaluation of Fixed Assets
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board of Directors has approved the fixed asset revaluation report taking into consideration of audited financial statements of the Company for the year ended on June 30, 2019. The revaluation of fixed asset has been increased from BDT 20,914,530,962.00 to BDT 28,093,133,616.00. The revaluation surplus was BDT 7,178,602,654.00. Net Asset Value per share (NAV) would be increased by BDT 18.06.
2021-10-06: Transfer Confirmation
DESCO: Bangladesh Power Development Board, Corporate Sponsor of Dhaka Electric Supply Company Ltd. has further reported that it has completed transfer of its entire holdings of 26,37,93,834 shares of the Company to Dhaka Power Distribution Company Limited through outside the trading system of the Exchange to comply with the order of Power division, Ministry of Power, Energy and mineral Resources and as per approval letter of BSEC as per declaration disseminated on 01.09.2021.
2021-10-06: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 14, 2021 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2021.
2021-09-08: Appointment of Chairman
DESCO: Dhaka Electric Supply Company Ltd. has informed that Mr. Md. Selim Uddin, Additional Secretary of Government of the people's Republic of Bangladesh has been appointed as the Chairman of the Board of Directors of the Company with effect from August 20, 2021.
2021-09-01: Declaration of Share Transfer
DESCO: Bangladesh Power Development Board, Corporate Sponsor of Dhaka Electric Supply Company Ltd. has expressed its intention to transfer its entire holdings of 26,37,93,834 shares of the Company to Dhaka Power Distribution Company Limited through outside the trading system of the Exchange to comply with the order of Power division, Ministry of Power, Energy and mineral Resources and as per approval letter of BSEC.
2021-05-23: Appointment of Chairman
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board of Directors has appointed Mr. Sheikh Faezul Amin, Addl. Secretary of Power Division, Ministry of Power, Energy & Mineral Resources as the Chairman of the Company with effect from May 19, 2021.
2021-05-20: Revised EPS for the period from January-March 2020
DESCO: (Quarter 3) Referring to their earlier news disseminated by CSE on 19.05.2021 regarding Un-audited Financial Statements, Dhaka Electric Supply Company Limited has further informed that EPS for the period from January-March 2020 would be Tk. (0.70) instead of Tk. 0.23. The Company earlier mistakenly reported the EPS figure as mention above. Other information of the earlier disclosure will remain unchanged.
2021-05-19: Cont-Un-audited Financial Statements
DESCO: (Quarter 3) (Cont) Reason for Significant deviation in EPS and NOCFPS: EPS decreased due to increase in energy purchase in Tk. as well as increase in operating expenses, administrative expenses and employee expenses. NOCFPS increased due to increase of sales revenue and received from other operating and non-operating activities.(end)
2021-05-19: Un-audited Financial Statements
DESCO: (Quarter 3) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 0.12 for January-March 2021 as against Tk. 0.23 for January-March 2020; EPS was Tk. 0.43 for July 2020-March 2021 as against Tk. 1.37 for July 2019-March 2020. NOCFPS was Tk. 10.84 for July 2020-March 2021 as against Tk. 8.66 for July 2019-March 2020. NAV per share was Tk. 46.42 as on March 31, 2021 and Tk. 46.76 as on June 30, 2020.(Cont)
2021-05-16: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on May 18, 2021 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2021.
2021-02-17: Cash Dividend Disbursement
DESCO: Dhaka Electric Supply Company Limited has informed that it has disbursed the cash dividend for the year ended on June 30, 2020 to the respective shareholders' Bank Accounts through Fund Transfer/BEFTN.
2021-01-28: Un-audited HY A/Cs
DESCO: (Quarter 2) As per un-audited half yearly accounts of Dhaka Electric Supply Company Limited, EPS was Tk. 0.04 for October-December 2020 as against Tk. 0.93 for October-December 2019; EPS was Tk. 0.31 for July-December 2020 as against Tk. 2.07 for July-December 2019. NOCFPS was Tk. 6.95 for July-December 2020 as against Tk. 2.66 for July-December 2019. NAV per share was Tk. 47.22 as on December 31, 2020 and Tk. 46.76 as on June 30, 2020. The Company also informed that EPS compared to last year decreased significantly due to declining sales because of Corona's effect and interest expenses against loan and payroll expenses also enhanced.
2021-01-24: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on January 27, 2021 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2020.
2020-11-18: Record Date tomorrow (19.11.2020)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will remain suspended on its record date i.e., 19.11.2020. Trading of the shares of the Company will resume on 22.11.2020.
2020-11-16: Spot trade from tomorrow (17.11.2020)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will be allowed only in the Spot Market from 17.11.2020 to 18.11.2020 as the record date of the Company is on 19.11.2020.
2020-11-15: Un-audited financial statements
DESCO: (Quarter 1) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 0.27 for July-September 2020 as against Tk. 1.14 for July-September 2019; NOCFPS was Tk. 4.71 for July-September 2020 as against Tk. 1.94 for July-September 2019. NAV per share was Tk. 47.02 as on September 30, 2020 and Tk. 46.76 as on June 30, 2020.
2020-11-12: Cont-Auditor's Opinion
DESCO(cont):But the company didn't make provision for the years 2013-14 to 2016-17 which we have calculated amounting Tk. 201,366,278. As a result the company understates its liability by the same amount. 2. As per Labor law- 2006 (amendment 2013) Section 234 (1) (b), an entity should pay amount of WPPF within 9 months of the close of every year. But the company did not pay amount of WPPF Tk. 99,493,608."(end)
2020-11-12: Auditor's Opinion
DESCO: The auditor of Dhaka Electric Supply Company Ltd. has given the following "Qualified Opinion" in the audit report of the Company for the year ended on June 30, 2020. "Basis for Qualified Opinion: 1. In the year 2013 an amendment has been made in section-232 of Labor Law-2006. Due to the amendment DESCO requires to maintain Workers Profit Participation Fund (WPPF). The company approves the requirement in this year and makes provision for 2017-18 to 2019-20.(cont)
2020-11-10: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on November 14, 2020 at 11:00 AM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2020.
2020-10-25: CB free
DESCO: Please note that there will be no price limit today 25.10.2020 on the trading of the shares of the Company following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/04 dated March 19, 2020, the floor price shall be applicable accordingly.
2020-10-25: Cont-Recommendation of Dividend
DESCO(cont): The Company has also informed the following: EPS decrease due to decrease of sales volume as well as sales revenue due to COVID-19. Total revenue from Operation, Gross Profit and Operating profit decrease due to COVID-19. Income from other source (Net) increase due to increase of interest rate and Net Income decrease due to decrease of sales volume.(end)
2020-10-25: Recommendation of Dividend
DESCO: The Board of Directors has recommended 10% cash dividend for the year ended on June 30, 2020. Date of AGM: 09.01.2021, Time: 10:00 AM, Venue: Digital Platform. Record Date: 19.11.2020. The Company has also reported EPS of Tk. 1.15, NAV per share of Tk. 46.76 and NOCFPS of Tk. 11.10 for the year ended on June 30, 2020 as against Tk. 2.70(restated), Tk. 46.23 and Tk. 6.40 respectively for the same period of the previous year.(cont)
2020-10-14: Reschedule of Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has further informed that the Board Meeting of the Company will now be held on October 22, 2020 at 4: 00 PM instead of October 15, 2020 at 4:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2020.
2020-10-11: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 15, 2020 at 4:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2020.
2020-06-25: Decision to increase of Authorized Capital
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board of Directors has recommended to enhance Authorized Capital from Tk. 500.00 Crore to Tk. 2,000.00 Crore for approval of the shareholders.
2020-06-25: Un-audited Financial Statements
DESCO: (Quarter 3) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. (0.70) for January-March 2020 as against Tk. 0.23 for January-March 2019; EPS was Tk. 1.37 for July 2019-March 2020 as against Tk. 1.98 for July 2018-March 2019. NOCFPS was Tk. 3.55 for July 2019-March 2020 as against Tk. 4.60 for July 2018-March 2019. NAV per share was Tk. 46.67 as on March 31, 2020 and Tk. 46.30 as on June 30, 2019.
2020-06-24: Reschedule of Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has further informed that due to unavoidable circumstances, the Board Meeting of the Company will be held on June 24, 2020 at 4:30 PM instead of 2:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2020.
2020-06-21: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on June 24, 2020 at 2:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2020.
2020-02-02: Cash Dividend Disbursement
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Cash dividend of the Company for the year ended on June 30, 2019 has been credited to the shareholders' Bank Accounts through fund Transfer/BEFTN.
2020-02-02: Un-audited HY A/Cs
DESCO: (Quarter 2) As per un-audited half yearly accounts of Dhaka Electric Supply Company Limited, EPS was Tk. 0.93 for October-December 2019 as against Tk. 0.80 for October-December 2018; EPS was Tk. 2.07 for July-December 2019 as against Tk. 1.76 for July-December 2018. NOCFPS was Tk. 2.66 for July-December 2019 as against Tk. 2.02 for July-December 2018. NAV per share was Tk. 48.37 as on December 31, 2019 and Tk. 46.30 as on June 30, 2019.
2020-01-23: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on January 30, 2020 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2019.
2019-11-20: Record Date tomorrow (21.11.2019)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will remain suspended on its record date i.e., 21.11.2019. Trading of the shares of the Company will resume on 24.11.2019.
2019-11-18: Spot trade from tomorrow (19.11.2019)
DESCO: Trading of the shares of Dhaka Electric Supply Company Ltd. will be allowed only in the Spot Market from 19.11.2019 to 20.11.2019 as the record date of the Company is on 21.11.2019.
2019-11-17: Un-audited Financial Statements
DESCO: (Quarter 1) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 1.14 for July-September 2019 as against Tk. 0.95 for July-September 2018; NOCFPS was Tk. 1.94 for July-September 2019 as against Tk. 1.75 for July-September 2018. NAV per share was Tk. 47.43 as on September 30, 2019 and Tk. 46.30 as on June 30, 2019.
2019-11-11: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on November 14, 2019 at 5.30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2019.
2019-11-04: Auditor's Opinion
DESCO: The auditors of Dhaka Electric Supply Company Limited (Bangladesh) Ltd. has given the following Basis for Qualified Opinion in the audit report of the Company for the year ended on 30 June 2019: '' Basis for Qualified Opinion: In the year 2013 an amendment has been made in section-232 of Labor Law-2006. Due to the amendment DESCO requires to maintain Workers Profit Participation Fund (WPPF). The Company approves the requirement in this year and marks provision for 2017-18 and 2018-19. But the company didn?t make provision for the years 2013-14 to 2016-17 which we have calculated amounting Tk. 201,366,278. As a result the company understates its liability by the same amount.''
2019-10-20: Recommendation of Dividend (Additional Information)
DESCO: The Company has further informed that the EPS for 2017-18 is restated to Tk. 1.19 due to adjustment of last year profit for Tk. 3.23 crore against Worker's Profit Participatory Fund (WPPF).
2019-10-20: CB free
DESCO: Please note that there will be no price limit today 20 October 2019 on the trading of shares of the Company following its corporate disclosure.
2019-10-20: Cont-Recommendation of Dividend
DESCO(cont): The Company has also informed the following: EPS increased due to increase of sales volume and retail tariff which effect from December 01, 2017. Total revenue from Operation, Gross Profit and Operating profit increased due to increase of retail tariff. Income from other source (Net) increased due to increase of interest rate and FDR. Net Income increased due to sales volume interest rate.(end)
2019-10-20: Recommendation of Dividend
DESCO: The Board of Directors has recommended 12% cash dividend for the year ended on June 30, 2019. Date of AGM: 04.01.2020, Time: 10:00 AM, Venue: Trust Milonayoton, 545, Airport Road, Tejgaon, Dhka-1206. Record Date: 21.11.2019. The Company has also reported EPS of Tk. 2.77, NAV per share of Tk. 46.30 and NOCFPS of Tk. 6.40 for the year ended on June 30, 2019 as against Tk. 1.19 (restated), Tk. 40.11 and Tk. 7.64 respectively for the same period of the previous year.(cont)
2019-10-13: Reschedule of Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has further informed that the Board Meeting of the Company will be held on October 17, 2019 at 6:00 PM instead of October 15, 2019 at 5:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2019.
2019-10-10: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 15, 2019 at 5:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2019.
2019-06-26: Appointment of Chairman
DESCO: Dhaka Electric Supply Company Ltd. has informed that Mst. Maksuda Khatun has been appointed as a Director as well as the Chairman of the Board of the Company.
2019-01-24: Un-audited HY A/Cs
DESCO: (Quarter 2) As per un-audited half yearly accounts of Dhaka Electric Supply Company Limited, EPS was Tk. 0.81 for October-December, 2018 as against Tk. 0.33 for October-December, 2017; EPS was Tk. 1.76 for July-December, 2018 as against Tk. 0.86 for July-December, 2017. NOCFPS was Tk. 2.02 for July-December, 2018 as against Tk. 1.04 for July-December, 2017. NAV per share was Tk. 44.34 as on December 31, 2018 and Tk. 40.13 as on June 30, 2018.
2019-01-20: Reschedule of Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has further informed that due to un-avoidable circumstances the Board meeting of the Company will now be held on January 23, 2019 instead of January 21, 2019 to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2018. Other things of the meeting will remain unchanged.
2019-01-15: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on January 21, 2019 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2018.
2018-12-04: Cont-Auditor's Opinion
DESCO(cont):Both the entities are governed by Bangladesh Power Development Board (BPDB) under the Ministry of Power, Energy and Mineral Resources. As per IFRS 3, para 18, Business Combination, Assets and Liabilities so acquired are to be measured at their acquisition- date fair value. Updated fair valuation of those assets received from DESA were not done since 2006.''(end)
2018-12-04: Auditor's Opinion
DESCO: The auditors of Dhaka Electric Supply Company Limited (Bangladesh) Ltd. has given the following qualified opinion and matter of emphasis in the audit report of the Company for the year ended on 30 June 2018: '' Qualified Opinion: As mentioned in Note 21.03 to the financial statements, the valuation of assets of Tk. 279 crore, (10.02%) out of total non-current assets of Tk. 2,784 crore, handed over by the predecessor Company-DESA to DESCO is included in the accounts of DESCO on an estimated basis and is not agreed with DESA.(cont)
2018-11-20: Record Date on 22.11.2018
DESCO: Trading of the shares of Dhaka Electric Supply Company Limited (Bangladesh) Ltd. will remain suspended on its record date i.e., 22.11.2018. Trading of the shares of the Company will resume on 25.11.2018.
2018-11-13: Un-audited Financial Statements
DESCO: (Quarter 1) As per un-audited financial statements of Dhaka Electric Supply Company Limited, EPS was Tk. 0.95 for July-September 2018 as against Tk. 0.53 for July-September 2017; NOCFPS was Tk. 1.75 for July-September 2018 as against Tk. 1.71 for July-September 2017. NAV per share was Tk. 41.09 as on September 30, 2018 and Tk. 38.31 as on June 30, 2018.
2018-11-06: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on November 12, 2018 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2018.
2018-10-21: CB free
DESCO: Please note that there will be no price limit today 21 October 2018 on the trading of shares of Dhaka Electric Supply Company Limited following its corporate disclosure.
2018-10-21: Financial Information
DESCO: Dhaka Electric Supply Company Limited has also reported EPS of Tk.1.27, NAV per share of Tk. 40.13 and NOCFPS of Tk. 7.64 for the year ended on June 30, 2018 as against Tk. 0.44, Tk. 37.78 and Tk. 5.98 respectively for the same period of the previous year. The Company has also informed EPS increased due to increase of retail tariff with effect from December 01, 2017. Total revenue from Operation, Gross Profit and Operating profit increased due to increase of retail tariff. Income from other source (Net) decreased due to increase of interest expenses and fluctuation loss. Net Income increased due to increase of retail tariff.
2018-10-21: Recommendation of Dividend
DESCO: Dhaka Electric Supply Company Limited has recommended 10% Cash Dividend for the year ended on June 30, 2018. AGM will be held on 12 January 2019 at 10:00 AM at PSC Convention Hall, Mirpur-14, Dhaka-1206. Record Date is on 22 November 2018.
2018-10-11: Board Meeting
DESCO: Dhaka Electric Supply Company Ltd. has informed that the Board Meeting of the Company will be held on October 18, 2018 at 6:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2018.
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