The 49th Annual General Meeting (AGM) of Berger Paints Bangladesh Limited was held on a digital platform, with its Chairman Gerald K Adams in the chair.
Rupali Chowdhury, Managing Director, and other directors — Anil Bhalla, Masud Khan, Parveen Mahmud, Reazul Islam, Rishma Kaur, Kanwardip Singh Dhingra, Sunil Sharma, Abhijit Roy, Jean-Claude Loutreuil and Sazzad Rahim Chowdhury — attended the meeting.
Gerald K Adams presented the Directors’ Report, Auditors’ Report, and Audited Financial Statements for the year that ended on March 31, 2022, before the shareholders. Rupali Chowdhury replied to the shareholders’ queries.
The meeting declared a 400 percent cash dividend, comprising a 300 percent interim dividend and a 100 percent final dividend, for 2021-2022.
The company achieved 31.8 percent revenue growth and around 19 percent volume growth in the year that ended on March 31, 2022. The company gained market share in 2021-2022.
Against the backdrop of 31.80 percent revenue growth, the company achieved a 10.07 percent growth in income before tax. Income before tax was 17.40 percent of net sales in 2021-22 compared to 20.83 percent last year. During the period, the cost of sales increased from 60.21 percent to 65.59 percent of net sales.
During the year, Berger Paints Bangladesh Limited was awarded ‘Top VAT Payer’ for the 2019-20 fiscal year under the manufacturing category. The company also received the ‘ICMAB Best Corporate Award 2020′ in various global manufacturing industries for its sales & financial performance, contribution to the national exchequer, HR management, corporate governance, shareholders’ return, investment growth, and CSR activities.
Berger Paints has also been awarded the ‘Best Paint Brand’ in the Paint category 11 consecutive times by Bangladesh Brand Forum in partnership with Nielsen Bangladesh.