Meghna, Padma profits rise in FY26; Jamuna Oil’s fall

Two of Bangladesh’s major state-owned petroleum distributors recorded profit growth in the 2025-26 financial year, supported by improved earnings per share and operating cash flow, while another reported a sharp decline in profit and a deterioration in cash flow.
Meghna Petroleum and Padma Oil Company posted year-on-year profit growth of 3% and 21%, respectively, in FY26, according to their latest price-sensitive information (PSI) disclosures. In contrast, Jamuna Oil’s profit fell 34%, while its operating cash flow turned sharply negative.
Jamuna Oil reported a net profit of Tk425 crore for the year ended 30 June 2026, down from the previous year. Its earnings per share (EPS) fell to Tk38.52 from Tk58.70 in FY25.
The company also reported a significant deterioration in its net operating cash flow per share (NOCFPS), which measures cash generated from regular business activities for each share.
Its NOCFPS stood at negative Tk278.80 in FY26, compared with Tk64.37 a year earlier, indicating that its operating activities consumed substantially more cash than they generated.
The company said it was facing a cash shortage as its outflows exceeded inflows.
Against this backdrop, Jamuna Oil recommended a 120% cash dividend for FY26, down from the 180% dividend recommended for the previous financial year.
Meghna Petroleum, meanwhile, reported an EPS of Tk63.32 in FY26, up from Tk61.39 a year earlier, reflecting a 3% increase in profit.
Its operating cash flow also improved, with NOCFPS rising to Tk164.04 from Tk109.47 in FY25.
The company’s board recommended a 210% cash dividend, equivalent to Tk21 for each Tk10 share, for FY26, up from 200% for the previous year.
Padma Oil Company recorded the strongest profit growth among the three distributors, with its EPS increasing to Tk69.47 from Tk57.30 in the previous financial year, representing a 21% rise.
Its NOCFPS also improved significantly, reaching Tk63.72 in FY26 against negative Tk39.83 in FY25.
The company’s board recommended a 170% cash dividend, or Tk17 for each Tk10 share, compared with 160% for the previous year.
The latest disclosures highlight contrasting financial performances among the three state-owned oil distributors. While Meghna Petroleum and Padma Oil improved both profitability and operating cash flow, Jamuna Oil faced declining earnings, weaker cash generation and a lower dividend recommendation.