The 48th Annual General Meeting (AGM) of Berger Paints Bangladesh Limited was held on 6 October (Wednesday).
Chairman of Berger Paints Bangladesh Limited Gerald K Adams presided over the meeting held virtually, said a press release.
At the meeting, Gerald K Adams presented the directors' report, auditors' report and audited financial statements for the year ended on 31 March, 2021, while Rupali Chowdhury replied to the queries of the shareholders.
The company declared a 375% cash dividend for fiscal 2020-21 in the meeting.
Besides gaining market share, Berger Paints Bangladesh achieved 2.8% revenue growth, 12.3% growth in income before tax, and around 6% volume growth in the year that ended on 31 March, 2021.
However, the company's cost of sales reduced from 61.5% to 60.2% of net sales during the countrywide lockdown due to the coronavirus pandemic.
Despite higher sales in 2020-21, total expenses both in absolute value and as a percentage of net sales reduced from the previous year resulting in higher profitability.
The AGM was also attended by Berger Paints Bangladesh directors Anil Bhalla, Anis A Khan, Masud Khan, Rishma Kaur, Kanwardip Singh Dhingra, Sunil Sharma, Parveen Mahmud, Abhijit Roy and Sazzad Rahim Chowdhury and Company Secretary Khandker Abu Jafar Sadique