With liquor sales doubled in six months, Carew fattens govt purse
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Monday
January 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
MONDAY, JANUARY 30, 2023
With liquor sales doubled in six months, Carew fattens govt purse

Economy

Mahfuz Mamun
18 January, 2022, 10:30 am
Last modified: 18 January, 2022, 01:23 pm

Related News

  • Carew keeps shining on distillery profit
  • Control on liquor import boosts local Carew sales
  • Control on liquor import boosts local Carew sales
  • Govt earns only Tk52cr from liquor imports in five years
  • North Bengal Sugar Mills wants to produce liquor

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

Mahfuz Mamun
18 January, 2022, 10:30 am
Last modified: 18 January, 2022, 01:23 pm
Phenomenal rise in Carew sales in H1 FY22
Infographic: TBS

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.

 

Bangladesh / Top News / Industry

Carew & Co / Liquors

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

  • Photo: Collected
    Economic slump drags down growth in VAT collection from big cos
  • It's corruption that bites business harder: CPD
    It's corruption that bites business harder: CPD
  • Import slowdown to affect economic growth: ADB country head
    Import slowdown to affect economic growth: ADB country head

MOST VIEWED

  • TBS file photo
    Z&Z Fabrics introduces Sorona fabric line
  • Top 20 defaulters owe Tk16,588 crore to lenders: Finance minister
    Top 20 defaulters owe Tk16,588 crore to lenders: Finance minister
  • Cry for dollar for Ramadan imports
    Cry for dollar for Ramadan imports
  • Manufacturers feel the pinch as consumers tighten belt
    Manufacturers feel the pinch as consumers tighten belt
  • Infograph: TBS
    State banks spend 80% of their forex for govt imports in H1
  • Photo: TBS
    Indian ship arrives in Ashuganj river port with 958 tonnes of rod

Related News

  • Carew keeps shining on distillery profit
  • Control on liquor import boosts local Carew sales
  • Control on liquor import boosts local Carew sales
  • Govt earns only Tk52cr from liquor imports in five years
  • North Bengal Sugar Mills wants to produce liquor

Features

Nandita Sharmin's journey to give organic skincare a new identity

Nandita Sharmin's journey to give organic skincare a new identity

15h | Mode
Illustration: TBS

'The silver lining is that the worst is sort of behind us': Hamid Rashid, UN economist

18h | Panorama
Photo: Bloomberg

BuzzFeed and AI are a match made in fad city

17h | Panorama
Snipe in flight. Photo: Enam Ul Haque

Baikka Beel: 'A world where snipe work late'

1d | Panorama

More Videos from TBS

Sarika Sabrin is waiting for a good film

Sarika Sabrin is waiting for a good film

8h | TBS Entertainment
Take your football game to the next level at Next Level academy

Take your football game to the next level at Next Level academy

9h | TBS SPORTS
“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

11h | TBS Round Table
What does Shahrukh has in his 770 million dollar property?

What does Shahrukh has in his 770 million dollar property?

1d | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

4
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

5
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
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