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RD Food to launch four new products

Published : Friday, 24 September, 2021 at 12:00 AM  Count : 109
Business Correspondent

The board of directors of Rangpur Dairy and Food Products Limited has taken the decision to launch four new products and launch a new brand name which will include 12 products.
The new four products will be launched on Saturday next, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.
As per the board's decision, the company will invest an amount of Tk 70 million (import amount will be Tk 42 million and local cost will be Tk 28 million) approximately for machinery purchase.
Source of the fund of investment will be 50 per cent from bank finance and 50 per cent from its own fund, said the company. "Expected revenue will be Tk 110 million (approximately) per year".
The company expects from this financial year the company's revenue will increase 15 per cent to 18 per cent from existing revenue and expected profit may increase 12 per cent to 15 per cent from this investment.
Each share of the company, which was listed on the Dhaka bourse in 2011, closed at Tk 54.70 on Thursday, gaining 2.05 per cent over the previous day. Its shares traded between Tk 11.90 and Tk 54.80 in the last one year.
The company disbursed 2.0 per cent cash and 2.0 per cent stock dividend for the year ended on June 30, 2020. In 2019, it also paid a 5.0 per cent stock dividend.
The company's paid-up capital is Tk 737.61 million and authorised capital is Tk 1.0 billion while the total number of securities is 73.76 million.
The sponsor-directors own 35.26 per cent stake in the company, while the institutional investors own 19.93 per cent and the general public 44.81 per cent as of August 31, 2021, the DSE data shows.

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