Olympic Industries will bear all registration-related costs, including VAT, gain/income taxes and other associated charges.
Logo of Olympic Industries. Picture: Collected
Olympic Industries PLC, the country’s leading manufacturer of process-packaged food and biscuits, has decided to acquire 102 decimals of land in Narayanganj to support its ongoing operational expansion.
The decision was finalised during a meeting of the company’s board of directors held yesterday (10 August), according to an official disclosure posted on the Dhaka Stock Exchange (DSE) website yesterday.
Under the board’s approval, the land— located in Narayanganj — will be purchased for an agreed total price of Tk2.29 crore from sellers Jaman Miah and Md Moniruzzaman Bhuiya & Gong.
Olympic Industries will bear all registration-related costs, including VAT, gain/income taxes and other associated charges.
The company said the procurement is intended for construction works aimed at accommodating future capacity expansion.
This latest acquisition continues a series of strategic land purchases by Olympic Industries over recent years to expand its manufacturing footprint centered in Narayanganj.
Over the years, the company has invested hundreds of crores to acquire lands adjacent to its factory in preparation for scaling up operations.
In April 2026, Olympic Industries set to invest Tk26.22 crore to purchase 489.89 decimals of land adjacent to its existing factory for future expansion.
Following the land acquisition information, Olympic Industries shares price at the DSE surged 1.59% to Tk153 each.
For the nine months ended March 2026, Olympic Industries’ revenue rose 5.30% to Tk2,256 crore.
However, net profit declined by 33.75% in the third quarter and by 6.97% over the nine-month period, which the company attributed to a higher tax burden.
During the July to March period, revenue stood at Tk2,256 crore, while net profit fell to Tk148.18 crore, according to the report.
Source: The Business Standard
Read More at: csslbd.net
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