Paramount Textile has announced an investment of around Tk35 crore to increase its weaving capacity along with other auxiliary capacities.
The company will import some capital machinery for the planned expansion and the fund will be arranged through foreign loans, Paramount said in a disclosure after the board meeting on Thursday.
Founded in 2006, Paramount Textile is now a leading manufacturer of woven yarns and it won national export trophies twice.
After its stock market listing in 2013, the company has diversified its business to power generation and later also opted for the river dredging business.
After posting Tk4.46 in earnings per share (EPS) for the 2019-20 fiscal year, it posted Tk3.4 in EPS for the first nine months of the 2020-21 fiscal year.
At the end of June 2020, its audited net asset value per share was Tk24.26.
Over the first nine months of the last fiscal year, the company's total revenue was over Tk375 crore, including that of its subsidiary companies.
Paramount Textile shares closed 1.56% higher to Tk84.6 at the Dhaka Stock Exchange on Thursday.