Square Pharmaceuticals Ltd, Bangladesh’s largest drug manufacturer, has unveiled plans to invest Tk 400 crore in expansion.
The funds will be allocated for Balancing, Modernisation, Rehabilitation, and Expansion (BMRE) projects, alongside acquiring machinery and land for future business growth.
As part of the Square Group, one of Bangladesh’s prominent conglomerates, Square Pharma has been operating in the pharmaceutical sector since 1958, producing a wide array of medicines for both domestic and international markets.
This investment decision gained approval from Square Pharmaceuticals’ board during a meeting on October 23.
They recommended a 105% cash dividend for the shareholders for the fiscal year ending on June 30.
In the past financial year, Square Pharmaceuticals reported revenue of nearly Tk 1,898 crore, marking a 4.5% year-on-year increase from the previous year’s Tk 1,819 crore.
Earnings per share also saw growth, rising from Tk 20.48 to Tk 21.41, as disclosed on the Dhaka Stock Exchange.
Square Pharma’s stock shares were valued at Tk 209.8 as of 12:02 p.m. on the Dhaka Stock Exchange today.