The Rangpur Dairy and Food Products is going to invest Tk7 Crore in buying capital machinery. The company expects following the investment its annual revenue will rise between 15 to 18 per cent. It has also stated that its profit will increase by 12 to 15 per cent.
Due to the announcement, the company’s share price rose by 2.05 per cent from Tk53.60 per share to Tk54.70. It has stated in its disclosure that it will invest Tk4.20 Crore for importing capital machinery and Tk2.80 Crore for local expenditure.
It will finance 50 per cent of the total investment and the remaining 50 per cent will be financed by taking loans from banks.
Additionally, it is also going to launch 4 products. For the fiscal year of 2020-21, it earned a revenue of Tk50.91 crore and a profit of Tk3.85 Crore where in the previous fiscal year of 2019-20, it earned a profit of Tk2.21 paying 2 per cent stock and cash dividend.