Home ›› 15 Jun 2022 ›› Stock
RAK Ceramics (Bangladesh) Limited, a United Arab Emirates-based company, is all set to invest Tk 902 crore to boost its tiles production through Greenfield project.
After the completion of the project, the company’s tiles production capacity will increase by 15,000 square meters per day. The company is expecting to complete the project by two years, said by the company.
To implement this project, RAK Ceramics has already announced to purchase 33.91 acres of land at Bhutulia, Gazipur, at a total cost of Tk 62.73 Crore (excluding registration and other expenses).
This announcement has brought positive impact on its share prices. On Tuesday, its share prices rose by 1.51 per cent to Tk47 on the Dhaka Stock Exchange.
RAK Ceramics Company Secretary Muhammad Shahidul Islam told the Business Post ‘’ we have purchased land for setting up new projects which will eventually increase our production.’’
The Board of Directors has decided to hold an EGM on Digital Platform for approval from shareholders of purchase land, set Record Date on July 04, 2022.
In the first quarter of 2022, company’s revenue stood at Tk 201 crore, 16 per cent higher than the previous year at the same time which was Tk 173 crore in the Q1 of 2021.
The Company posted Tk 0.57 in earnings per share for the first quarter on January to March, 2022 against Tk 0.50 in the previous year at the same Period.
The Consolidated net asset value (NAV) per share of same Quarter the company was Tk 16.84 as on March 31, 2022 and Tk 15.91 as on March 31, 2021.
RAK Ceramic invested Tk 52.50 crore to increase its tiles production capacity by upgrading machinery in their existing factory on October 27, 2021.
“After the completion of project, the company’s production capacity will increase by 8.76 lakh square meters per annum which project is underway, said the official.”
RAK Ceramics manufactures tiles and sanitary ware under several brand names. It has four tile plants in Bangladesh with an annual production capacity of 12.30 crore square metres and annual sanitary ware capacity of 14 Lac Pcs.
RAK Ceramics is engaged in the manufacture and the marketing of ceramics tiles, bathroom sets, and all types of sanitary ware.
It operates through the segments--ceramics and sanitary ware, power and security and services.
