Written by The Banking Post
Miracle Industries Limited (MIL) posted a wider loss in the third quarter of FY26, even as its sales nearly doubled on the back of strong demand from a state-run buyer.
The plastic packaging manufacturer reported a loss of Tk 35.92 million for the January–March quarter, compared with a lower loss a year earlier. Earnings per share (EPS) stood at Tk (1.02), deepening from Tk (0.64) in the same period last year.
For the nine months through March, cumulative EPS deteriorated to Tk (2.40), from Tk (1.63) a year ago, according to disclosures published on the Dhaka Stock Exchange (DSE) website on Monday.
The company said its turnover jumped about 98 per cent year-on-year, largely driven by bulk orders from the Bangladesh Chemical Industries Corporation (BCIC), which procures industrial packaging materials for fertiliser and chemical production.
However, the surge in sales failed to translate into profits as input and operating costs rose sharply.
Miracle Industries, which produces PP woven bags, laminated bags, and jumbo bags, depends heavily on oil-based raw materials. Prices of key inputs such as polyethylene (PE) and polypropylene (PP) have spiked significantly amid ongoing geopolitical tensions involving Israel, the United States, and Iran, disrupting global energy and chemical markets.
The company said raw material costs alone have increased by 50–70 per cent, putting severe pressure on margins.
Freight and logistics expenses have also climbed, driven by higher marine insurance premiums, rerouted shipping lines, longer transit times, and fuel surcharges.
Despite the financial strain, the company is moving to expand capacity. Its board has approved an investment plan to raise annual production of WPP bags from 3 crore to 5 crore units to meet growing demand from BCIC.
Meanwhile, MIL’s share price fell 4.51 per cent to Tk 25.40 on the Dhaka bourse on Monday, reflecting investor concerns over continued losses.
