With liquor sales doubled in six months, Carew fattens govt purse
The company made Tk127.7 crore profit in the first half of FY22, which is more than its total profit in the previous fiscal
Due to a drop in import of foreign liquors amid the pandemic, Carew and Company (Bangladesh) Limited's sales have increased phenomenally during the first half of the current fiscal.
The state-owned distillery's monthly sales more than doubled from Tk17.12 crore in July 2021 to Tk39.14 crore in December that year.
The distillery made Tk103.6 crore profit in the whole period of FY21 – highest in its history till then, while it posted Tk127.7 crore profit in the first half of FY22 alone.
The company paid Tk42.52 crore VAT in the first half of the current fiscal year, while it paid Tk73.2 crore VAT in FY21.
It posted Tk29.55 crore profit in December 2021, which is also a record in its 84-year history.
Sources at Carew and Company said the local distillery might start marketing their products in glass bottles along with the plastic bottles they are currently using.
Officials concerned said the company has taken a new plan to make beer. A process to launch two new sales outlets is also under way.
Mohammad Mosharraf Hossain, managing director of Carew and Company, said a process to thoroughly revamp the distillery unit with automatic machinery is going on to meet the increased demand.
"We earned a record amount of revenue last December. Product sales increased several times that month. Work is underway to implement a new plan to overcome the losses incurred by the units including sugar mills," he said.
"Compared to the last fiscal, our profit after excluding VAT and other expenses will increase by around Tk60-70 crore. The Sugar and Food Industries Corporation is optimistic about the distillery," he added.
Carew and Company (Bangladesh) Limited was established in Chuadanga in 1938. Currently, Bangladesh Sugar and Food Industries Corporation is operating the mill.
It has six units – Sugar, Distillery, Pharmaceutical, Commercial Farm, Akandabaria Farm (experimental) and Bio-Fertiliser. Among them only the distillery and the organic fertiliser units are profitable.
The company produces nine brands of liquor, including Yellow Level Malted Whiskey, Gold Ribbon Gin, Fine Brandy, Cherry Brandy, Imperial Whiskey, Orange Curaçao, Tsarina Vodka, Rosa Rum and Old Rum.
