KDS Accessories revenue rose 15%

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KDS Accessories revenue rose 15%
KDS Accessories revenue rose 15%

KDS Accessories revenue rose 15%

KDS Accessories Limited, a concern of Chattogram based KDS Group, reported a 15% growth in revenue to Tk221.79 crore in the fiscal year 2020-21 as the country’s overall export increased.

In the last fiscal year, about $38.75 billion were earned from exports, recording a 15% growth, compared to $33.67 billion in FY2019-20.

The company manufactures cartons, buttons, elastics, labels, paper and printing.

It also declared a dividend at 15% cash to the shareholders for the last fiscal and posted 8% growth in net profit to Tk15.69 crore. Its earnings per share stood at Tk2.20.

To approve the dividend and audited financial statement, the company is scheduled to hold its annual general meeting on 9 December 2021.

The company also announced that its new business expansion project has been completed and commercial production has started on 24 October this year.

The new project will contribute to an added production of 30 lakh pieces of carton box and the revenue is expected to increase by Tk25 crore.

The company got enlisted in the stock market in 2015.  At the time, they raised Tk24 crore from the market through initial public offering (IPO), selling 1.20 crore shares of Tk20 each that included a premium of Tk10.

In the last three months its share price jumped 71% to Tk84.40 till 5 October at the Dhaka Stock Exchange (DSE). After that, its share price fell to Tk64.80 on Monday.

KDS Accessories has two factories in Gazipur and Chattogram. Using the funds collected through the IPO, the company established the third unit of its Gazipur factory.

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