Krishibid Seed, a subsidiary of the Krishibid Group, has reported a significant 24% decline in its net profit after tax for FY2022-23. This decline has led to a reduction in the recommended cash dividend for FY23, dropping from 15% in the previous FY22 to 5%. As per the DSE website, the company’s net profit for FY23 stood at Tk2.31 crore, with earnings per share of Tk0.77. In response to this news, the company’s share price experienced an 8.44% drop, closing at Tk21.17 each on the DSE.
The AGM is scheduled for December 28, 2023, and the record date for dividend entitlement has been set for October 30, 2023. Krishibid Seed’s net asset value per share is reported at Tk11.57, with a net operating cash flow per share of Tk1.18. The company raised funds from the stock market in January 2022 to develop cold storage, storage facilities, and seed research and development facilities. Krishibid Seed, established in 2016, specializes in the production and importation of various seed types, including vegetables, maize, rice, wheat, oilseeds, pulses, grass, and potatoes.