Shurwid enters IT enabled service business
FE Report | Thursday, 21 March 2019
The board of directors of Shurwid Industries has approved a proposal that the company will do the business of Information Technology Enabled Service (ITES).
An agreement was signed with the company and Amarroom.com for providing service and profit sharing between the companies from the clients using promo-code, said a disclosure posted on the Dhaka Stock Exchange (DSE) Wednesday.
According to the disclosure, Information Technology Enabled Service is fully tax exempted up to June 2024 as per 6th Schedule, Part- A, Para- 33 of the Income Tax Ordinance, 1984.
The company, however, did not disclose how much fund to be invested and profit detail in this business.
Each share of the Shurwid Industries, which was listed on the DSE in 2014, closed at Tk 36.60 on Wednesday, advancing 0.28 per cent over the previous day.
In the last one year, its share traded between Tk 16.30 and Tk 41.60 each.
Shurwid Industries disbursed 10 per cent stock dividend for the year ended on June 30, 2018.
The earnings per share (EPS) stood at Tk 0.35 for October-December 2018 as against negative Tk 0.22 for October-December 2017.
In six months for July-December 2018, the EPS was Tk 0.63 as against negative Tk 0.38 for July-December 2017.
The net operating cash flow per share (NOCFPS) was minus Tk 0.015 per cent for July-December 2018 as against minus Tk 0.115 for July-December 2017.
The net asset value (NAV) per share was Tk 11.46 as on December 31, 2018 and Tk 10.83 as on June 30, 2018.
The company's paid-up capital is Tk 573.68 million and authorised capital is Tk 1.0 billion, while the total number of securities is 57.36 million.
The sponsor-directors own only 9.99 per cent stake in the company, while the institutional investors own 10.42 per and the general public 79.59 per cent as on February 28, 2019, the DSE data shows.
Established in 2004 at Gazipur, currently the Shurwid Industries engages in the business of medicine and food packaging for food and pharmaceutical industries in Bangladesh.
The company offers PVC films for medicine packaging, PP/PS films for food packaging, and PP/PVC disposable products for food industries. It also exports its products.