Daffodil Computers to invest $30m to produce IT products

Daffodil Computers, a leading IT company in the country, will invest $30 million in phases to set up an IT assembling and manufacturing plant at the Bangabandhu Hi-Tech Park.

The IT products produced at the plant will be exported to neighboring countries, said the company.

For setting up the plant, it will get 0.96 acres of land Acre at the park in Gazipur’s Kaliakoir, said the company in a filing with Dhaka Stock Exchange (DSE) on Wednesday.

Daffodil Computers Company Secretary Md Monir Hossain told The Business Post, “We’ve started working to export the products produced in the plant.”

“Infrastructure development work will be completed within the next one year,” he said.

“The products will be exported to neighbouring countries such as Bhutan and Nepal. We also plan to export our products to some countries in the African region,” said the company secretary.

The company is expected to increase its market share after starting production in the high-tech park.

The company was listed on the Dhaka Stock Exchange (DSE) in 2003 and Chittagong Stock Exchange (CSE) in 2006.

DCL has emerged as the largest computer assembling, marketing, and selling firm in Bangladesh soon after its operartion.

The share price of the company increased 6.70 per cent to Tk 74.40 on the DSE on Wednesday.

Established in 1999, its market capitalisation stood at around Tk 350 crore and the paid-up capital Tk 50 crore. It paid an 8 per cent cash dividend in the last financial year.

In the first nine months of FY21, Daffodil Computers’ earning per share slightly declined to 6.25 per cent to Tk 0.15 recorded in the same period of the previous financial year.