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Shurwid Industries to enter Software business

FE Online Report | Published: June 27, 2019 12:01:50 | Updated: June 30, 2019 13:10:27


The board of directors of Shurwid Industries has decided to open new business wing i.e. Software business, which is fully tax exempted up to June 30, 2024.

In this regard, an agreement was signed with the company and lnfosapex Ltd. on Wednesday, said an official disclosure on Thursday.

lnfosapex-Shurwid JVC (Joint Venture Consortium) will do business of ICT products, branding & further development of the products like robotic process automation (RPA), paperless meeting (Board Maestro), business process automation & other software and both the company will share cost and profit equal basis, said the disclosure.

Each share of the company, which was listed on the DSE in 2014, closed at Tk 34.20 each on Wednesday.

The company’s share traded between Tk 16.80 and Tk 41.60 in the last one year.

The company disbursed 10 per cent stock dividend for the year ended on June 30, 2018.

The company’s earnings per share (EPS) stood at Tk 0.44 for January-March 2019 as against Tk 0.39 for January-March 2018.

The EPS was Tk 1.07 for July 2018-March 2019 as against Tk 0.01 for July 2017-March 2018.

The net operating cash flow per share (NOCFPS) was Tk 0.22 for July 2018-March 2019 as against negative Tk 0.09 for July 2017-March 2018.

The net asset value (NAV) per share was Tk 11.90 as on March 31, 2019 and Tk 10.83 as on June 30, 2018.

The company’s paid-up capital is Tk 573.68 million, authorised capital is Tk 1.0 billion and the total number of securities is 57.36 million.

The sponsor-directors own only 9.99 per cent stake in the company, while institutions 16.08 per cent and the general public 73.93 per cent as of May 31, 2019, the DSE data shows.

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