Evince Textiles Limited, a publicly listed firm, has decided to invest Tk14.62 crore in purchasing capital machinery to expand its denim fabric production, according to a disclosure published on the stock exchange’s website.
Following the investment disclosure, Evince Textiles’ share price hit the upper limit with a 10% gain to Tk11 each on the Dhaka Stock Exchange (DSE) yesterday.
According to the disclosure, the textile firm will purchase a set of continuous denim dyeing sizing machines and a high-speed warping machine with standard accessories, originating from Taiwan.
The total cost, including freight charges, amounts to $1.2 million. Calculated at an exchange rate of Tk121.86 per US dollar on 30 August, this is equivalent to Tk14.62 crore, the disclosure read.
According to its unaudited financials, the company in the first nine months of the 2024-25 fiscal year reported a 17% decline in revenue to Tk249 crore and incurred a loss of Tk2.15 crore, with a loss per share of Tk0.12.
The principal activities of the company is to manufacture 100% cotton yarn dyed woven fabrics.
