Message From The Managing Director

Dear Shareholders,
Ladies and Gentlemen,

It is my great pleasure that I welcome you on behalf of the Board of Directors to the 19th Annual General Meeting of your Company and present before you the Annual Report for the year 2020-21 containing the Directors’ Report and Audited Financial Statements for your kind perusal.

OUR BUSINESS PERFORMANCE

I am also pleased to inform you that during the year 2020-21 Matin Spinning Mills PLC got a significant growth in revenue as well as earning per shares (EPS). EPS of the company was Tk. 6.31 in 2020-21, which grew by 192.12% compared to 2019-20, Tk. 2.16. As a result, the Board of Directors recommended 40% cash dividend for the honorable shareholders.

We all know that Bangladesh as well as the whole world continues to face the adversity of the CORONA VIRUS PANDEMIC from last December 2019 to till date. Following the declaration of COVID-19 as a pandemic by the World Health Organization (WHO) in early March 2020, like many other governments, the Government of Bangladesh introduced restrictive measures to contain further spread of the virus, affecting free movement of people and goods during the financial year 2020-21. However, our production was not affected significantly during the year 2020-21 for COVID-19. In this respect the Board of Directors would like to appreciate
our valuable and dedicated human resource for their tireless efforts and contribution during the pandemic situation.

As you are aware that our Company operates as a backward linkage industry to the RMG exporting companies largely within DBL Group and usually fulfill around 50% demand of the Group. We believe that the Company will not have any significant issues on production capacity utilization in the foreseeable future. Moreover, the Board decided to expand the production capacity of “Special Yarn Unit” by 10 tons (per day) to meet Group’s full demand of yarn.

PRODUCTION CAPACITY

The Company’s total installed production capacity is 51 tons per day with 73,184 spindles.

OUR GRATITUDE

While concluding, I offer my gratitude to all the Employees, Shareholders, Stakeholders, Government Agencies, Banks & Financial Institutions, Customers, Consumers, Suppliers and other Service Agencies for their cooperation and support.

Thanking you all.

M. A. Jabbar
Managing Director