IBN Sina to buy land at Tk5cr for expansion

In line with an expansion move, IBN Sina Pharmaceutical Industry PLC decided to buy 29.87 decimals of land in the Kushtia district at a cost of Tk 5 crore.

The company will set up a depot at the land for the purpose of business expansion, Md Kabir Hossain, company secretary of IBN Sina Pharmaceutical told The Business Post.

As per its latest financial report, the drug maker posted a consolidated net profit of Tk 9.34 crore in the January-March quarter of the fiscal year 2022-23 against Tk 8.62 crore in the same period last fiscal.

The listed company’s unaudited consolidated earnings per share (EPS) rose to Tk 2.99 for the January-March quarter of FY23 from Tk 2.76 for the corresponding quarter last fiscal.

Meanwhile, the company’s EPS stood at Tk 13.52 for the July-March period of FY23 which was Tk 13.26 during the same period of FY22.

The drug maker’s net asset value (NAV) per share was Tk 90.82 till March 31 this year.

The company’s shares closed at Tk 286.60 on the DSE trading floor on Wednesday.

Incorporated in 1983, the company got listed in the capital market in 1989.

The company has a paid-up capital of Tk 31.24 crore. Sponsors-director hold a 44.67 per cent stake in the company, while institutional directors own 24.41 per cent, and the general public 30.92 per cent, as per the DSE data.