Listed cement manufacturer Crown Cement PLC has decided to purchase new land as part of its ongoing expansion strategy. On September 18, the company’s Board of Directors approved the acquisition of 330 decimals (approx. 3.3 acres) of land in West Muktarpur, Munshiganj, at a total cost of Tk 13.77 crore, including registration expenses. This information was confirmed through a notice on the company’s website.
This land acquisition further strengthens Crown Cement’s efforts to expand its production capacity. The company already operates one of the largest cement manufacturing complexes in the country at Muktarpur. Previously, in 2023, Crown Cement bought 245 decimals of adjacent land at a rate of Tk 600,000 per decimal.
According to company officials, Crown Cement has significantly expanded its production capacity over the past two decades in response to growing market demand. Starting in 2002 with the launch of its second unit and a daily production capacity of 800 tons, the company went on to add its third unit in 2008, fourth in 2011, and fifth in 2017.
The decision to acquire more land is part of a long-term strategy to prepare for future expansion in line with the country’s increasing demand for cement.
Most recently, in January 2024, Crown Cement commercially launched its sixth unit, adding a daily production capacity of 8,280 tons. This has raised the company’s total daily capacity to 19,040 tons, or approximately 5.7 million tons annually.
However, rising costs in the industrial sector have somewhat impacted the company’s performance. In the first nine months of FY 2024–25 (July to March), earnings per share (EPS) dropped to Tk 3.56, down from Tk 5.90 in the same period the previous year. As of March-end, the company’s net asset value per share stood at Tk 58.47.
On the other hand, Crown Cement paid a 21% cash dividend for FY 2023–24. During that fiscal year, its EPS rose to Tk 6.47, up from Tk 4.11 the previous year. Annual revenue also increased to Tk 3,198 crore, compared to Tk 2,773 crore in the prior fiscal year.
