State-owned Carew and Company (Bangladesh) Ltd, the only licensed liquor producer in the country, has recorded a historic performance in the 2024–25 fiscal year, posting a gross profit of Tk 115 crore—the highest in 32 years.
Managing Director Rabbik Hasan announced that the company’s net profit after corporate tax stood at Tk 85 crore, up from Tk 64 crore last year.
“We achieved the highest liquor sales and the highest profit in Carew’s history,” he said.
While the company’s sugar operations have traditionally been loss-making, Carew has started turning things around. This fiscal year, Carew crushed around 70,000 tonnes of sugarcane, with a target of producing 4,452 tonnes of sugar. The mill processed an average of 1,150 tonnes of cane daily, achieving a recovery rate of 5.10 percent.
Carew cultivates sugarcane on 5,500 acres in Chuadanga, with 1,625 acres owned by the company and the remaining 3,937 acres managed by contracted farmers. Cane was purchased at Tk 240 per maund. In addition to sugarcane, inter-crops such as potatoes, lentils, mustard, coriander, and pumpkins are grown, making the agricultural farms profitable for the first time in 32 years.
Md Rajibul Hasan, General Manager of the distillery unit, said, “The mill has recovered thanks to the right planning and sincere efforts from the team. Farmers are once again showing interest in cane cultivation, and we expect even better yields in the future.”
Industry insiders have called for coordinated government efforts to sustain this momentum and ensure a bright future for the state-owned enterprise.
Carew’s distillery unit produces nine types of liquor, including Yellow Label Whisky, Gold Ribbon Gin, Fine Brandy, Cherry Brandy, Imperial Whisky, Orange Curacao, Zarina Vodka, Rosa Rum, and Old Rum. Spirit production reached six million proof litres by June, showing a year-on-year increase.
The historic enterprise, based in Darshana, has made a remarkable recovery after years of decline. Established in 1938 and nationalized after independence in 1971, the company now operates under the Bangladesh Sugar and Food Industries Corporation (BSFIC) of the Ministry of Industries.