Envoy Textiles has reported that its profits more than doubled in the 2024-25 fiscal year, supported by higher sales, even as its share price slipped.

The company, listed on the Dhaka Stock Exchange (DSE), posted a net profit of Tk 140 crore, up from Tk 67 crore a year earlier. Earnings per share rose to Tk 8.40 from Tk 3.58, according to its disclosure on the DSE website.

On the back of the stronger results, the board of directors declared a 30 percent cash dividend for shareholders, compared with 20 percent last year. Envoy’s net asset value per share stood at Tk 58 as of June 30, up from Tk 52 a year ago.

Envoy, the world’s first LEED Platinum-certified denim mill, also announced the start of full-scale operations at its new waste fabric recycling facility. Located at its factory site, the plant can process 12 tonnes of waste fabrics daily, including garment cuttings and denim, sourced both locally and from its own operations.

The recycled fibre, certified under international sustainability standards, is reused in Envoy’s yarn production, creating a closed-loop system. The company said the initiative would strengthen its competitiveness in global sustainable textiles.

Despite the upbeat earnings and new recycling project, Envoy’s share price fell by 1.22 percent to Tk 57 at the DSE.