Walton’s annual profit grows 124% on record sales

[UKBengali]

Walton’s annual profit grows 124% on record sales

The listed company’s sales reached nearly Tk7,000 crore

www.tbsnews.net

"
Walton’s annual profit grows 124% on record sales
The listed company’s sales reached nearly Tk7,000 crore

Overcoming the 2020 slowdown, electronics giant Walton Hi-Tech Industries Ltd reached new sales and profit milestones in fiscal 2020-2021.
The listed company's sales grew 70% to reach nearly Tk7,000 crore, while cost control helped its net profit rise by 124% compared to the previous fiscal year, according to Walton officials.
In the previous fiscal year, Walton had to absorb some sales losses due to the disrupted business environment amid the prolonged nationwide shutdown followed by a few sluggish quarters of the same fiscal year.
In fiscal 2019-2020, its sales dropped below Tk4,200 crore from more than Tk5,180 crore in the previous year, which also nearly halved the annual net profit to Tk730 crore.

"In fiscal 2020-2021, we have got our sales points opened during the two major national festivals – the Eids," said Walton's Additional Managing Director Abul Bashar Howlader. "While in the previous fiscal year, the Eid-Ul-Fitr sales were lost due to the nationwide shutdown."
Also, since the end of the 2020 lockdown, many families bought their needed electronics and home appliances on a priority basis that facilitated their homestay amid the pandemic, he said to explain the sales growth.
The company continually kept innovating and launching new products and models to attract new customers and repeat purchasers, according to Abul Bashar Howlader.
"The matter of our bigger pride, over the latest fiscal year Walton's export grew by more than eight times to Tk120 crore as it received more and more orders from a set of export markets that include both the developing and developed markets," he added.
Walton, which earns more than two-thirds of its revenue from refrigeration and cooling products, almost proportionately grew in each of its product segments, Howlader said.
Walton, as the largest electronics company of the country eying the global market, entered the stock market in 2020.
Its board of directors recommended a 250% cash dividend for general shareholders while the sponsor and director shareholders would receive 170% cash dividends for the fiscal year ending on June 30.
The company also decided to purchase a 236 decimal plot in the capital for nearly Tk172 crore to build an iconic tower for its corporate office.
The board of directors decided to change the company name suffix to comply with the modified Companies Act. Walton High-Tech Industries Ltd will become Walton High-Tech Industries PLC.
Despite the fact that Walton's annual earnings per share rose to Tk54.21 from Tk24.21, its stock price slightly fell by 3.9% to Tk1,417 on Wednesday.
At the end of June this year, the company's net asset value per share rose to over Tk311 including the revaluation surplus, without adding the surplus which was Tk208 on the same day.
"

 

[Paul2]

Walton’s annual profit grows 124% on record sales

The listed company’s sales reached nearly Tk7,000 crore

www.tbsnews.net

"
Walton’s annual profit grows 124% on record sales
The listed company’s sales reached nearly Tk7,000 crore

Overcoming the 2020 slowdown, electronics giant Walton Hi-Tech Industries Ltd reached new sales and profit milestones in fiscal 2020-2021.
The listed company's sales grew 70% to reach nearly Tk7,000 crore, while cost control helped its net profit rise by 124% compared to the previous fiscal year, according to Walton officials.
In the previous fiscal year, Walton had to absorb some sales losses due to the disrupted business environment amid the prolonged nationwide shutdown followed by a few sluggish quarters of the same fiscal year.
In fiscal 2019-2020, its sales dropped below Tk4,200 crore from more than Tk5,180 crore in the previous year, which also nearly halved the annual net profit to Tk730 crore.

"In fiscal 2020-2021, we have got our sales points opened during the two major national festivals – the Eids," said Walton's Additional Managing Director Abul Bashar Howlader. "While in the previous fiscal year, the Eid-Ul-Fitr sales were lost due to the nationwide shutdown."
Also, since the end of the 2020 lockdown, many families bought their needed electronics and home appliances on a priority basis that facilitated their homestay amid the pandemic, he said to explain the sales growth.
The company continually kept innovating and launching new products and models to attract new customers and repeat purchasers, according to Abul Bashar Howlader.
"The matter of our bigger pride, over the latest fiscal year Walton's export grew by more than eight times to Tk120 crore as it received more and more orders from a set of export markets that include both the developing and developed markets," he added.
Walton, which earns more than two-thirds of its revenue from refrigeration and cooling products, almost proportionately grew in each of its product segments, Howlader said.
Walton, as the largest electronics company of the country eying the global market, entered the stock market in 2020.
Its board of directors recommended a 250% cash dividend for general shareholders while the sponsor and director shareholders would receive 170% cash dividends for the fiscal year ending on June 30.
The company also decided to purchase a 236 decimal plot in the capital for nearly Tk172 crore to build an iconic tower for its corporate office.
The board of directors decided to change the company name suffix to comply with the modified Companies Act. Walton High-Tech Industries Ltd will become Walton High-Tech Industries PLC.
Despite the fact that Walton's annual earnings per share rose to Tk54.21 from Tk24.21, its stock price slightly fell by 3.9% to Tk1,417 on Wednesday.
At the end of June this year, the company's net asset value per share rose to over Tk311 including the revaluation surplus, without adding the surplus which was Tk208 on the same day.
"

Huge dividends. The few people outside of the Rizvi family who managed to get their stock before the company listed must be very happy now.

The company is still largely family owned as I learned, though group heads largely offloaded day to day affairs to hired hands.

Can somebody into finance look up how much exactly they drew in dividends?

 

[Michael Corleone]

Huge dividends. The few people outside of the Rizvi family who managed to get their stock before the company listed must be very happy now.

The company is still largely family owned as I learned, though group heads largely offloaded day to day affairs to hired hands.

Can somebody into finance look up how much exactly they drew in dividends?

Exactly mate the stock was so cheap and yet my parents didn’t buy and it already 20x

 

[UKBengali]

Walton ropes in former Samsung CTO for R&D in Seoul, reveals MD

Walton has announced the opening of a subsidiary in the United States as Bangladesh's first company in the electronics sector. It has also announced the establishment of business hubs in several important regions of the world. Golam Murshed, managing director of Walton, speaks to The Business...

www.tbsnews.net

"Walton ropes in former Samsung CTO for R&D in Seoul, reveals MD

South Korean companies are leading the world in the electronics sector. What will Walton do after opening a branch there?

We are opening a branch in South Korea, which will be basically an R&D. There is no denying that South Korea is the market leader in the white gold or electronics market. So, we want to take an R&D experience from Korea. We are initially setting up a team of 10-12 people there. A Korean national will be the head of our team, who has worked with Samsung for 34 years. He was also the CTO of Samsung. Hopefully, we will get some new experience from Korea"

 

[PoondolotoPandalum]

Samsung is setting up more R&D facilities in Bangladesh apparently. I'm not sure about the details. But I suspect, given the high consumer market in Bangladesh, which is rapidly increasing (or was, before Covid), they may want to develop products more suited for such a market. Or optimize the manufacturing process, within a Bangladeshi manufacturing context.

In terms of Walton, according to their MD, they set up a small R&D team in Seoul, because it's arguably the world's best environment for appliance R&D. They need to be learned from the best, understand their culture of doing things, and try to replicate the functional aspects at home.

Don't be afraid of being "copycats". Someone has already solved 80% of your problems already. learn from them. South Koreans themselves have done this in the past, learning from the Japanese. With a lot of behind doors Japanese assistance. Yet now, they have the highest patent per capita on earth. Arguably, the most inventive nation, on a per capita basis.

 

[mmr]

Walton need to become part of global value chain if it wants to grow.

Also try to showcase it to best buy or target for product placement. Ppl care more about price and quality less about brand.

 

[UKBengali]

| theindependentbd.com

m.theindependentbd.com

"Walton plans to expand LED TV export to 20 European countries by this year
Staff Reporter, Dhaka
[IMG alt="Walton plans to expand LED TV export
to 20 European countries by this year "]https://www.theindependentbd.com/assets/news_images/Walton_plans.jpg[/IMG]
Bangladesh's electronics giant Walton has set a target of widening its LED TV export to 20 European countries by this year.
Walton TV’s Head of Business in Germany Tawseef Al Mahmood said, “They set a plan to expand its TV export markets to 20 European countries by the end of 2021.’’
Despite the global trade and economic slowdown following the corona virus pandemic, Walton made a great success in expanding its LED TV exports to 10 European countries, including Germany, Greece, Ireland, Croatia, Spain, Poland, Italy and Romania, said a press release.
Walton’s successful market expansion in Europe was resulted in increasing its TV export 10 times more than the previous year.
German Ambassador to Bangladesh Peter Fahrenholtz praised Walton's remarkable achievements in expanding TV export to Europe.
During a recent visit to Walton Hi-Tech Park at Chandra in Gazipur, the German lauded Walton’s state-of-the-art TV manufacturing factory.
Peter Fahrenholtz said, “Walton has developed so well. I am very much impressed.

Walton has a vision to be a global player through producing quality products. Today, I witnessed that Walton invested good enough on advanced technologies’ machineries mostly from Germany to produce quality products. I hope that Walton would be a global market player.’

The German envoy also termed Walton as a showcase of the Bangladesh tremendous progress in the recent years.
Walton TV Chief Executive Officer Mostafa Nahid Hossain said, “We set a goal of becoming one of the top five global television brands in the world. As a part of this goal, we target to widen Walton TV export markets to all the countries of the 5 continents by 2023. In this case, the rapid expansion of Walton TV's export market in Europe will play an important role.
He said Walton exported 10 times more TVs to Europe in 2020 than the previous year. In the first five month of this year (January to May), Walton surpassed the export of 2020."

 

[bluesky]

The listed company’s sales reached nearly Tk7,000 crore

Important is also the amount of total sales of a company. It is 7,000 crores for WALTON which is very good. It shows many hundreds of people are being employed in that company.

 

[Tom-tom]

Exactly mate the stock was so cheap and yet my parents didn’t buy and it already 20x

I live in the UK, how do I buy Walton shares. I have been wanting to buy Walton shares for years now. I heard about a year ago they a trial listing on Dutch stock exchange to gauge demand in Europe and to get fresh fdi. Sadly that didn't take off.

 

[UKBengali]

Important is also the amount of total sales of a company. It is 7,000 crores for WALTON which is very good. It shows many hundreds of people are being employed in that company.

Walton employs around 21000 employees and wants to expand this by around 10000 more by building another factory in one of the new SEZs.

Total revenue growing by an average of 20% a year since 2017. Exports seem to have taken off since last year as well.

Last fiscals revenue was a little over 800 million US dollars.

 

[bluesky]

Important is also the amount of total sales of a company. It is 7,000 crores for WALTON which is very good. It shows many hundreds of people are being employed in that company.

This 7,000 crore Taka of sales has raised the GDP of the country by 7,000 Crore Taka.

 

[SpaceMan18]

@Bilal9

Well bois , looks like Walton ain’t playing no games and I feel like they might have a even brighter future

Walton need to become part of global value chain if it wants to grow.

Also try to showcase it to best buy or target for product placement. Ppl care more about price and quality less about brand.

Here in America , I guess I can kinda say the same lol

 

[UKBengali]

@bluesky - If the 2nd factory is built fully then it will create 15,000 jobs - this has already been posted before but relevant to this thread and so reposting.

Walton plans fresh $640m investment

Walton Hi-Tech Industries Ltd is going to make a fresh investment of $640 million, equivalent to Tk 5,440 crore, to expand facilities to produce and increase export of electrical and electronic goods.

www.thedailystar.net

"Walton plans fresh $640m investment
To set up second electrical, electronics unit focusing export
Jagaran Chakma
Sun Feb 28, 2021 12:00 AM
Walton Hi-Tech Industries Ltd is going to make a fresh investment of $640 million, equivalent to Tk 5,440 crore, to expand facilities to produce and increase export of electrical and electronic goods.
The company has already submitted its plan to the Bangladesh Economic Zones Authority (Beza), seeking 300 acres of land at the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.
For all latest news, follow The Daily Star's Google News channel.
"Under the investment, the company intends to set up a second unit of Walton Hi-Tech Industries," said Walton Group Managing Director Golam Murshed.
"Our target is to complete the implementation work within two years and start commercial production."
The investment will be made over a period of eight years and would be comprised, in equal parts, of retained earnings and long-term bank loans. The group plans to borrow from domestic and foreign banks.

Murshed said once the Beza gives the approval, Walton would sit to plan out the number of products to be manufactured and make an announcement at the stock exchange.

Among them will be home appliances such as refrigerator, freezer, air-conditioner, compressor and television alongside cables and automobile components.
Murshed hopes to offer 15,000 jobs directly from the second unit.
Now Walton has an over 20,000-strong workforce in 22 production bases on 680 acres of factory area at Chandra, Gazipur. Its yearly production capacity is 10 million units.
When it comes to professional manufacturing of electrical and electronic goods, Walton has truly turned into a giant, gaining a reputation on providing competitive prices and ensuring a presence in more than 20 countries.
The Walton managing director hopes the second unit would widen its global footprint.
Walton set up its first manufacturing plant in 2008, and in 2016, it started manufacturing one vital component of refrigerators, compressors.
The proposal said all manufacturing machinery would be imported from countries, including Japan, China, Italy, Korea, Belgium, Turkey, Austria, Germany and the US.
Its forecast domestic and export sales revenue in the seventh year following investment is around Tk 5,690 crore.
With a paid-up capital of Tk 300 crore, Walton is already in the process of raising Tk 100 crore from the stock market this year through an initial public offering.
According to its annual report, its annual turnover in FY 2019-20 was Tk 4,100 crore. It was Tk 5,180 crore in the previous fiscal year.
Its earnings per share were Tk 21.34 in the July-December period in 2020, up from Tk 20.34 in the same period of 2019.
Beza Executive Chairman Paban Chowdhury appreciated the initiative, citing it would diversify the country's exports, which Walton had already contributed to, and that Bangladesh needed to promote such steps.
Walton's need for land will be examined, and the Beza will try to accommodate them at the industrial city despite a scarcity of land there at the moment, he said."

 

[MilSpec]

Walton’s annual profit grows 124% on record sales

The listed company’s sales reached nearly Tk7,000 crore

www.tbsnews.net

"
Walton’s annual profit grows 124% on record sales
The listed company’s sales reached nearly Tk7,000 crore

Overcoming the 2020 slowdown, electronics giant Walton Hi-Tech Industries Ltd reached new sales and profit milestones in fiscal 2020-2021.
The listed company's sales grew 70% to reach nearly Tk7,000 crore, while cost control helped its net profit rise by 124% compared to the previous fiscal year, according to Walton officials.
In the previous fiscal year, Walton had to absorb some sales losses due to the disrupted business environment amid the prolonged nationwide shutdown followed by a few sluggish quarters of the same fiscal year.
In fiscal 2019-2020, its sales dropped below Tk4,200 crore from more than Tk5,180 crore in the previous year, which also nearly halved the annual net profit to Tk730 crore.

"In fiscal 2020-2021, we have got our sales points opened during the two major national festivals – the Eids," said Walton's Additional Managing Director Abul Bashar Howlader. "While in the previous fiscal year, the Eid-Ul-Fitr sales were lost due to the nationwide shutdown."
Also, since the end of the 2020 lockdown, many families bought their needed electronics and home appliances on a priority basis that facilitated their homestay amid the pandemic, he said to explain the sales growth.
The company continually kept innovating and launching new products and models to attract new customers and repeat purchasers, according to Abul Bashar Howlader.
"The matter of our bigger pride, over the latest fiscal year Walton's export grew by more than eight times to Tk120 crore as it received more and more orders from a set of export markets that include both the developing and developed markets," he added.
Walton, which earns more than two-thirds of its revenue from refrigeration and cooling products, almost proportionately grew in each of its product segments, Howlader said.
Walton, as the largest electronics company of the country eying the global market, entered the stock market in 2020.
Its board of directors recommended a 250% cash dividend for general shareholders while the sponsor and director shareholders would receive 170% cash dividends for the fiscal year ending on June 30.
The company also decided to purchase a 236 decimal plot in the capital for nearly Tk172 crore to build an iconic tower for its corporate office.
The board of directors decided to change the company name suffix to comply with the modified Companies Act. Walton High-Tech Industries Ltd will become Walton High-Tech Industries PLC.
Despite the fact that Walton's annual earnings per share rose to Tk54.21 from Tk24.21, its stock price slightly fell by 3.9% to Tk1,417 on Wednesday.
At the end of June this year, the company's net asset value per share rose to over Tk311 including the revaluation surplus, without adding the surplus which was Tk208 on the same day.
"

nice.

 

[SpaceMan18]

@bluesky - If the 2nd factory is built fully then it will create 15,000 jobs - this has already been posted before but relevant to this thread and so reposting.

Walton plans fresh $640m investment

Walton Hi-Tech Industries Ltd is going to make a fresh investment of $640 million, equivalent to Tk 5,440 crore, to expand facilities to produce and increase export of electrical and electronic goods.

www.thedailystar.net

"Walton plans fresh $640m investment
To set up second electrical, electronics unit focusing export
Jagaran Chakma
Sun Feb 28, 2021 12:00 AM
Walton Hi-Tech Industries Ltd is going to make a fresh investment of $640 million, equivalent to Tk 5,440 crore, to expand facilities to produce and increase export of electrical and electronic goods.
The company has already submitted its plan to the Bangladesh Economic Zones Authority (Beza), seeking 300 acres of land at the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.
For all latest news, follow The Daily Star's Google News channel.
"Under the investment, the company intends to set up a second unit of Walton Hi-Tech Industries," said Walton Group Managing Director Golam Murshed.
"Our target is to complete the implementation work within two years and start commercial production."
The investment will be made over a period of eight years and would be comprised, in equal parts, of retained earnings and long-term bank loans. The group plans to borrow from domestic and foreign banks.

Murshed said once the Beza gives the approval, Walton would sit to plan out the number of products to be manufactured and make an announcement at the stock exchange.

Among them will be home appliances such as refrigerator, freezer, air-conditioner, compressor and television alongside cables and automobile components.
Murshed hopes to offer 15,000 jobs directly from the second unit.
Now Walton has an over 20,000-strong workforce in 22 production bases on 680 acres of factory area at Chandra, Gazipur. Its yearly production capacity is 10 million units.
When it comes to professional manufacturing of electrical and electronic goods, Walton has truly turned into a giant, gaining a reputation on providing competitive prices and ensuring a presence in more than 20 countries.
The Walton managing director hopes the second unit would widen its global footprint.
Walton set up its first manufacturing plant in 2008, and in 2016, it started manufacturing one vital component of refrigerators, compressors.
The proposal said all manufacturing machinery would be imported from countries, including Japan, China, Italy, Korea, Belgium, Turkey, Austria, Germany and the US.
Its forecast domestic and export sales revenue in the seventh year following investment is around Tk 5,690 crore.
With a paid-up capital of Tk 300 crore, Walton is already in the process of raising Tk 100 crore from the stock market this year through an initial public offering.
According to its annual report, its annual turnover in FY 2019-20 was Tk 4,100 crore. It was Tk 5,180 crore in the previous fiscal year.
Its earnings per share were Tk 21.34 in the July-December period in 2020, up from Tk 20.34 in the same period of 2019.
Beza Executive Chairman Paban Chowdhury appreciated the initiative, citing it would diversify the country's exports, which Walton had already contributed to, and that Bangladesh needed to promote such steps.
Walton's need for land will be examined, and the Beza will try to accommodate them at the industrial city despite a scarcity of land there at the moment, he said."

More jobs the better , hopefully everything goes according to plan