GPH Ispat Limited's shareholders approved a 2% cash dividend for FY2025–26 for general shareholders only, excluding sponsors and directors. The company also temporarily deferred its proposed rights share issue because of prevailing capital market conditions.
The company's 20th annual general meeting (AGM), held on a hybrid platform at 11 am on 25 October 2026, approved the dividend. According to the press release, Company Chairman Md Alamgir Kabir presided over the meeting.
Shareholders unanimously approved the company's financial report for the year ended 30 June 2026, the related audit report and the board of directors' report.
The shareholders reappointed Mohammed Jahangir Alam as managing director for five years. Rezina Parveen was appointed as an independent director for three years, while Safiul Alam Khan Chowdhury was reappointed as an independent director for three years.
At its 103rd meeting on 24 October 2026, the board reviewed the previously announced rights share issue proposal. Considering prevailing capital market conditions and the interests of the company and general shareholders, it decided to defer the proposed issuance activities temporarily.
The company said it would reconsider the proposal at an appropriate time, depending on changes in capital market conditions and other relevant factors.
Addressing the AGM, Chairman Md Alamgir Kabir highlighted the potential for long-term growth in demand for quality steel products, driven by Bangladesh's infrastructure development, urbanisation, industrialisation and expanding economic activity.
He said steel demand was likely to rise as macroeconomic conditions improved, inflation eased, political stability returned, and the construction and infrastructure sectors regained momentum.
To capitalise on this potential, GPH Ispat is focusing on better utilisation of production capacity, technological expertise, quality control and commercial capabilities, he added.
Reviewing operations for FY2025–26, Mohammed Jahangir Alam, group chairman and managing director, said the company faced inflation, high interest rates, rising fuel costs, working capital shortages and adverse banking conditions.
Slower public and private investment in infrastructure and housing kept construction activity subdued. Excess capacity in the steel industry and intense competition created severe price pressure, while limited, irregular natural gas supplies disrupted production, he said.
Despite these challenges, GPH Ispat maintained factory operations, aligned production and sales with market demand through strict cost control, and upheld product quality and customer trust, he added.
Mohammed Almas Shimul, additional managing director, reaffirmed the company's commitment to safeguarding shareholders' investments. He said executive management was working with the board to expand sales and marketing activities while improving factory production efficiency.
He also thanked shareholders and other participants for attending and for their support.
Attendees included Group Chairman and Managing Director Mohammed Jahangir Alam; Additional Managing Director Mohammed Almas Shimul; Directors Mohammad Ashrafuzzaman, Md Abdul Ahad, Md Azizul Hoque, Sadman Syka Sefa, Salehin Musfique Sadaf, and Saiham Sadik Pial; Independent Directors Safiul Alam Khan Chowdhury and Rezina Parveen; and invited guests.
Mukter Hossain Talukder, FCA, group CEO; HM Ashrafuzzaman, FCA, group chief financial officer; and Md Atiqur Rahman Chowdhury, chief financial officer, were also present.
Statutory auditors, corporate governance compliance auditors, independent scrutineers, senior company officials, and many shareholders attended the meeting.
Md Mosharraf Hossain, company secretary, moderated the AGM.