Monno firms go into full production today 

Two listed companies belonging to Monno Group are going into full production on Thursday this year.

The companies are Monno Ceramics, which exports and sells ceramics tableware, and Monno Agro & General Machinery Limited, which produces and sells agro machinery.

Benoy Paul, company secretary of Monno Agro Machineries, told The Business Standard, "Due to the Covid-19 pandemic, we could not run the factories in full capacity. Now the Covid situation has improved across the country following vaccination. That is why we have decided to run full operation of the factories." 

Earlier on 10 April last year, Monno Ceramic and Monno Agro shut all business operations and productions for an indefinite period in the wake of the increasing number of Covid-19 positive cases in the country. 

During that period, they tried to continue production on a limited scale to meet export orders but due to the deterioration of the situation, the two companies stopped all operations.

Later, on 23 June 2020, the companies announced that they resumed partial operation of their factories by maintaining safety measures.

The two companies could not recover their business from the Covid shocks as their productions were running partially. 

In the first three quarters of fiscal 2020-2021, Monno Ceramic's revenue stood at Tk55.76 crore, and its revenue was Tk109 crore at the same period of FY19 when the company was in full operation.

Its net profit and earnings per share stood at Tk3.97 crore and Tk1.05 respectively in the July-March period of FY21.

At the same period of FY21, Monno Agro's revenue was Tk7.36 crore and it was Tk12.38 crore when the company was running at its full capacity. 

Monno Ceramic's share prices rose 57% to Tk168.3 during the June-September period this year at the Dhaka Stock Exchange (DSE).

It declared 5% cash and 5% stock dividends for the shareholders for FY20.

Monno Agro's share price also jumped 50% to reach Tk849.4 each at the same period this year. At the end of Wednesday's trading session, its share's closing price stood at Tk836.50.