Gemini Sea Food plans to expand business into local market | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
June 14, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JUNE 14, 2025
Gemini Sea Food plans to expand business into local market

Food

Salah Uddin Mahmud
26 February, 2022, 08:20 pm
Last modified: 26 February, 2022, 10:49 pm

Related News

  • BSEC approves 7.50% stock dividend for Gemini Sea Food
  • BSEC rejects right shares application of Gemini Sea Food
  • Local AC makers now eye global market
  • Gemini Sea Foods to raise Tk128cr through 2.14cr right shares
  • Chinese tech makes local manufacturers, exporters competitive: Stakeholders

Gemini Sea Food plans to expand business into local market

To meet the growing demand for shrimp in the global market, it also wants to use its maximum production capacity of Tk200 crore annually

Salah Uddin Mahmud
26 February, 2022, 08:20 pm
Last modified: 26 February, 2022, 10:49 pm
Infographic: TBS
Infographic: TBS

After consolidating its foothold in the international frozen food industry, Gemini Sea Food now plans to expand its business into the local market by raising funds from stock investors. 

The frozen food maker has disclosed its plan in a recent regulatory filing.

To meet the growing demand for shrimp in the global market, it also wants to use its maximum production capacity of Tk200 crore annually. In the Covid-19 pandemic, the shrimp business had suffered severe disruptions.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

In seven months through January, the shrimp export jumped by 40.24% to $294.94 million, while it was $328.84 million in the entire 2020-21 fiscal year.

The company also plans to raise its paid-up capital to more than Tk30 crore, from the existing Tk4.70 crore, to comply with the regulatory requirement.

To do so, the company wants to issue bonus shares and right shares by fiscal 2025-26, and it will add a new line of frozen food.

It wants to produce chicken nuggets, sausage, meatballs, fish-balls, shrimp-balls, fish finger, paratha, French fries, cutlets, and other edibles to penetrate the local market.

The company informed the Bangladesh Securities Exchange Commission (BSEC), a specific group of consumers presently started to consume such types of foods and has become habituated in the post-pandemic period. 

There is a market of takeaway lunches of Tk2,670 crore at a minimum Tk100 per-unit level. Even a negligible 5% market share would yield a turnover of Tk137 crore annually, the firm added.

It further said the average annual growth rate of the two years is around 25%. The company has already hired skilled people for the new segment of the frozen food industry.

This correspondent called the company secretary AFM Nazrul Islam but he did not pick up the phone.

Gemini Sea Foods has been the pioneer in exporting certified organic shrimp from Bangladesh to EU retailers since 2008. It processes, packages, and exports quality frozen raw shrimp, cooked shrimp, and whitefish.

It exports its products to the US and the EU countries, such as the UK, Germany, Denmark, the Netherlands, Belgium, and Russia.

In the final three months of 2021, the company made a revenue of Tk28.34 crore, which was 319% higher than a year earlier.

Its net profit stood at Tk1.65 crore, compared to a net loss of Tk1.52 crore in the corresponding period of the previous year.

Its earnings per share rose to Tk3.51, from a loss of Tk3.24 a year ago, bolstered by an increase in export revenue and the low raw material costs, said the company.

The firm got listed on the Dhaka Stock Exchange in 1985.

Currently, the frozen food market, a growing sector in Bangladesh, is spreading rapidly amid the Covid-19 pandemic. 

Many well-established firms, as well as young entrepreneurs, are focusing on this sector through investment along with bigger competitors.

In addition to Gemini Sea Food, Golden Harvest, Apex Foods, Pran, AG Foods, Frozen Foods, Kazi Farms, McCain Foods, Royal Frozen, Savar Dairy, Nekkanti Sea Foods, Eurasia Food are also playing a major role in this sector.

Top News

Gemini Sea Food / Local Market

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Burnt out cars and damaged buildings are all that’s left of this street in Ramat Gan Credit: AP
    Iran threatens to strike US, UK, and French bases if they help defend Israel
  • Chief Adviser Professor Muhammad Yunus of the Bangladesh interim government. Sketch: TBS
    UK lawyers hired to recover stolen money: CA Yunus
  • Logo of the Bangladesh Jamaat-e-Islami. Photo: Collected
    Joint press briefing by Yunus, Tarique a breach of political norms, Jamaat says questioning CA's partiality

MOST VIEWED

  • Energy adviser Fouzul Kabir Khan with other government officials during a visit to Sylhet gas field on 13 June 2025. Photo: TBS
    I would disconnect gas supply to every home in Dhaka if I could: Energy adviser
  • BNP Acting Chairperson Tarique Rahman and Chief Adviser  Muhammad Yunus meet at Dorchester Hotel in London, UK on 13 June 2025. Photo: CA Press Wing
    National polls possible in 2nd week of February, agree Yunus, Tarique in 'historic' London meeting
  • Rescuers work at the scene of a damaged building in the aftermath of Israeli strikes, in Tehran, Iran, June 13, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
    Tehran retaliates with 100 drones after Israel strikes Iran's nuclear facilities, kills military leaders
  • From fact-checker to fact-checked: CA Press Wing’s turn in the hot seat
    From fact-checker to fact-checked: CA Press Wing’s turn in the hot seat
  • UK Prime Minister Keir Starmer, Chief Adviser Muhammad Yunus
    Disclosure of unconfirmed Yunus-Starmer meeting shows ‘diplomatic imprudence’: Analysts
  • Flight AI 379 had landed. File Photo: Hindustan Times
    Day after Ahmedabad crash, Air India flight makes emergency landing in Thailand after bomb threat

Related News

  • BSEC approves 7.50% stock dividend for Gemini Sea Food
  • BSEC rejects right shares application of Gemini Sea Food
  • Local AC makers now eye global market
  • Gemini Sea Foods to raise Tk128cr through 2.14cr right shares
  • Chinese tech makes local manufacturers, exporters competitive: Stakeholders

Features

Photos: Collected

Kurtis that make a great office wear

1d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

2d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

3d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

5d | Features

More Videos from TBS

How did the United States help prevent an Iranian attack?

How did the United States help prevent an Iranian attack?

55m | TBS World
Iran's counterattack: US ambassador visits shelter 5 times

Iran's counterattack: US ambassador visits shelter 5 times

1h | TBS World
No trade war, this time US-China in mutual agreement

No trade war, this time US-China in mutual agreement

1h | Others
Putin engages in back-to-back calls with Iran and Israel leaders

Putin engages in back-to-back calls with Iran and Israel leaders

3h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net