Dhaka: Carew and Company (Bangladesh) Ltd, the nearly 90-year-old state-owned enterprise located in Darshana of Chuadanga, is set to achieve its highest-ever net profit, despite ongoing financial setbacks in its sugar production unit. According to the company’s potential profit and loss account for the 2025-26 financial year, Carew’s combined net profit from all its units is projected to reach Tk 1,65,24,31,000, surpassing its previous record profit of Tk 1,29,44,74,000 recorded in 2024-25.
According to United News of Bangladesh, the projected profit underscores a significant disparity within the company. While the traditional sugar factory continues to incur losses, the distillery and other sugarcane by-product-based businesses are yielding substantial returns. The distillery unit is anticipated to remain the primary source of profit, with projections estimating earnings of Tk 2,23,79,32,000 for 2025-26.
Other units within Carew are also expected to contribute positively to the company’s earnings. The bio-fertiliser unit is projected to earn Tk 1,47,84,000, the commercial farm Tk 5,47,000, the Akandbaria unit Tk 7,62,000, and the distillery pharmaceuticals unit Tk 3,79,000. After accounting for the losses from the sugar factory, the company’s combined projected net profit remains substantial at Tk 1,65,24,31,000.
The sugar factory, however, continues to exert a significant financial burden on Carew. Its projected loss for 2025-26 stands at Tk 60,19,73,000, following a recorded loss of Tk 62.35 crore in 2024-25. Despite this, Carew managed to post a record overall net profit of Tk 1,29,44,74,000 in the same year, with the distillery unit earning Tk 1,90,26,77,000 in profit.
Carew’s net profit in 2023-24 was Tk 1,12,79,10,000, which increased by Tk 17,36,83,000 in 2024-25. If the latest projections are realized, Carew’s net profit will have increased by more than Tk 53 crore over two years. The continuous losses in sugar production have raised concerns among stakeholders, attributed to ageing machinery, the quality of sugarcane, and a low recovery rate.
Meanwhile, Carew has capitalized on sugarcane by-products as a major source of income, with the distillery business emerging as the company’s main profit driver. Established in 1938, Carew’s sugar and distillery factory initially had the capacity to process 1,000 tonnes of sugarcane a day and produce 18,000 proof litres of spirit. It has since evolved into a large industrial complex featuring sugar, distillery, pharmaceutical, farming, and bio-fertiliser units.
Md Rabbik Hasan, managing director of Carew and Company, remarked on the company’s financial performance, stating, “The losses in the sugar industry have also decreased slightly. We are working to reduce the losses further and increase the company’s profits in the future.” For Carew, the figures indicate a clear shift: while sugar production presents a persistent financial challenge, the success of its distillery and other by-product businesses is steering the company towards another record-setting year.