Cashew nuts business brings Rahima Food operating profit
After kicking off its cashew nuts unit in May this year, Rahima Food Corporation finally made an operating profit in fiscal 2021-22 riding on the revenue it earned after years.
Even though the company started its cashew nuts business just a month before the end of the fiscal year, it managed to earn an annual revenue of Tk6.65 crore at the end of FY22.
In FY22, the company's net profit stood at Tk58 lakh, which was only Tk14 lakh a year ago that too from non-operational income.
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Its earnings per share stood at Tk0.29 and net asset value at Tk9.53 as of June 2022.
Back in February this year, the company started the commercial production of coconut oil, soybean oil, and mustard oil.
But, since the company started marketing its oil products only recently, the revenue from this unit will be taken into account from the ongoing 2022-23 fiscal year, said an official of Rahima Food seeking anonymity.
The company had been out of production since 2013 because of a decline in demand for its products.
Rahima Food Corporation was incorporated as a private limited company in 1990, and it got listed in the food and allied sector of the stock exchanges in 1997. Its paid-up capital is Tk20 crore.
In July 2018, the Dhaka Stock Exchange (DSE) delisted the company's share trading because it was out of operation for a long time.
Then in 2020, it got relisted on the stock exchanges.
As of 31 October 2022, sponsors and directors jointly held 37.38%, institutions 13.19%, foreign investors 4.99%, and the general public 44.44% shares in the company.
The last trading price of each share of the company was Tk237.7 on Tuesday at the DSE.
