Berger Paints achieved 2.8 per cent revenue growth in 2020-21FY

During its 48th annual general meeting (AGM), Berger Paints Bangladesh declared 375 per cent cash dividend for 2020-21 fiscal.

Amid the outbreak of Covid-19 pandemic, the company achieved 2.8 per cent revenue growth and around 6 per cent volume growth in the fiscal ended 31 March 2021, said a news release issued on Saturday

Recently, Berger Paints hold its AGM through digital platform.

Berger Paints chairman Gerald K Adams chaired the meeting also attended by managing director Rupali Chowdhury, 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.

Before the shareholders, Gerald K Adams presented the directors’ report, auditors’ report and audited financial statements for the year ended 31 March 2021. Rupali Chowdhury replied to the shareholders’ queries.

At the backdrop of 2.8 per cent revenue growth, the company achieved 12.3 per cent growth in income before tax. During 2020-21 fiscal, cost of sales reduced from 61.5 per cent to 60.2 per cent of net sales, according to Berger Paints.

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 was awarded as Top VAT Payer for year 2018-2019 under manufacturing category.

The company also received the 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), the release said.