The 48th Annual General Meeting (AGM) of Berger Paints Bangladesh Limited was held on Wednesday through digital platform.
Gerald K Adams, Chairman, Berger Paints Bangladesh Limited presided over the meeting. Rupali Chowdhury, Managing Director, along with other directors Anil Bhalla, Anis A. Khan, Masud Khan, Rishma Kaur, Kanwardip Singh Dhingra, Sunil Sharma, Parveen Mahmud, Abhijit Roy and Sazzad Rahim Chowdhury also attended the meeting.
Gerald K Adams presented the Directors’ Report, Auditors’ Report and Audited Financial Statements for the year ended March 31, 2021 before the shareholders. Rupali Chowdhury replied to the shareholders’ queries.
375% Cash Dividend was declared for 2020-2021 in the meeting. The Company achieved 2.8% revenue growth and around 6% volume growth in the year ended March 31, 2021.
The company gained market share in 2020-2021. Almost two months of the first quarter of the year was under lockdown due to COVID-19 pandemic. At the backdrop of 2.8% revenue growth, the company achieved 12.3% growth in income before tax.
During the period, cost of sales reduced from 61.5% to 60.2% of net sales. Despite higher sales in 2020-21, total expenses both in absolute value and as a percentage of net sales reduced from previous year, resulting higher profitability in 2020-21.
During the year, Berger Paints Bangladesh Limited has been awarded for ‘Top VAT Payer’ for year 2018-2019 under manufacturing category.
The company also received ‘ICMAB Best Corporate Award 2019’ in the category of multinational manufacturing industries.In addition, Berger Paints has been awarded the ‘Best Paint Brand’ in Paint category for 10th consecutive times by Bangladesh Brand Forum (BBF) in partnership with Nielsen Bangladesh.