Top 10 Companies in Bangladesh 2024


Over the past few years, top-ranked companies in Bangladesh have played a significant role in driving the country’s economic growth by providing job opportunities, promoting entrepreneurship, and contributing to the nation’s overall development. We have listed the top 10 companies in Bangladesh that have been in existence for several decades and have established themselves as leaders in their respective industries in Bangladesh. In addition to these individual top-ranked companies, there are also several top groups of companies in Bangladesh that have built their empires with different business concerns across various sectors. These top groups of companies in Bangladesh have been instrumental in bringing innovation to their businesses and helping the country progress toward becoming a better nation.

As industries and businesses continue to grow, more opportunities are opening up for multinational corporations, fast-moving consumer goods companies, edtech (e-learning), and agro-based companies in Bangladesh. The government of Bangladesh is taking proactive steps to create new economic zones around the country, which will further unlock the potential for business growth in the country. These zones will provide a conducive environment for businesses to operate, enabling them to leverage the country’s resources and manpower. Bangladesh’s top companies and groups of companies are crucial in driving the country’s economic growth and development. With the government’s support and a growing business-friendly environment, the country is poised to attract more foreign investment and promote entrepreneurship, ultimately contributing to a more prosperous Bangladesh.

The Powerhouses of Bangladesh: 10 Leading Companies You Should Know About

List of Top 10 Companies in Bangladesh | Bangladesh’s Business Titans

S.NOCompanies Total Assets
01Grameenphone Bangladesh 454.91 Billion (9.72%) 
02Walton Bangladesh363.91 Billion (7.77%)
03British American Tobacco Bangladesh283.82 Billion (6.06%)
04Robi Bangladesh241.46 Billion (5.15%)
05Square Pharma Bangladesh 185.62 Billion (3.96%)
06United Power Bangladesh 157.85 Billion (3.37%)
07Renata Bangladesh118.49 Billion (2.53%)
08Beximco Pharma Bangladesh85.78 Billion (1.83%)
09Berger Paints Bangladesh78.50 Billion (1.68%)
10Investment Corporation Bangladesh (ICB)76.31 Billion (1.63%)

We have showcased here the Top 10 companies in Bangladesh that have the highest market capitalization on the Dhaka Stock Exchange. These top 10 companies have had country-wide popularity and recognition for decades. Many of these top companies in Bangladesh brought pride to the country earning many international recognitions. And, these top 10 companies are achieving new milestones every year and representing Bangladesh around the World proudly.

Considering the top 10 companies in Bangladesh, Grameenphone will be the number one covering 99% of Bangladesh’s Population. It is a leading provider of telecommunications services in Bangladesh. Licensing granted by the Bangladesh Telecommunication Regulatory Commission (BTRC), Grameenphone operates digital mobile telecommunications with a high-speed 3G network that is based on the GSM standard in the 900 MHz, 1800 MHz, and 2100 Mhz frequency bands in Bangladesh. On 19 February 2018, Grameenphone Bangladesh was awarded a license for 4G/LTE cellular mobile phone services.

Grameenphone Ltd. has so far invested more than BDT 313 billion to build the network infrastructure all over Bangladesh which helps it to become the number one telecommunication company in Bangladesh. While writing about these top 10 companies lists we have amazed by figuring out that it is one of the largest taxpayer companies in Bangladesh which has contributed more than BDT 585 billion in direct and indirect taxes to the Government of Bangladesh Exchequer since its inception.

Walton is the most successful Bangladeshi multinational electrical, electronics, automobiles, and other home appliances company in Bangladesh. Recently it has been featured on National Geographic Superfactories. In ranking top 10 companies in Bangladesh, Walton Bangladesh is positioned 2nd and has one of the largest well-equipped R & I facilities in the world which carried out its production. It has different subsidiaries under the banner of Walton group headquarters in Bangladesh too. Walton Bangladesh Exports 67% of the total electronic goods worldwide.

Walton has a workforce of more than 30000+ in total 22 production bases under 700+ acres of factory area. Amazingly, The capacity of the yearly production of Walton Bangladesh is more than 10 million units based on the current market demands. Walton has become in giant professional manufacturer in Bangladesh in the relevant industry and has gained a high reputation in terms of its unbeatable capability for producing Electrical and Electronics goods; most competitively in aspects of quality, cost, design, and innovation in Bangladesh.

British America Tobacco BAT produces high-quality international cigarettes in Bangladesh. It is a part of British American Tobacco plc. and was established as Pakistan Tobacco Company in 1949 and become Bangladesh Tobacco Company Limited in 1972 aligning with British American Tobacco Group Bangladesh Tobacco Company changed its identity to British American Tobacco Bangladesh. At the beginning of the journey as Imperial Tobacco 110 years ago, the British American Tobacco Bangladesh Company sets up its first sales depot at Armanitola in Dhaka.

The first factory in Bangladesh (the then East Pakistan) was set up in 1949 at Fauzdarhat in Chattogram and in 1965, the second factory of Pakistan Tobacco Company was set up in Mohakhali, Dhaka. BAT Bangladesh is the first company listed on both Dhaka & Chittagong Stock Exchanges. And it has claimed its position among the top 10 companies in terms of Market Capitalism in Bangladesh. Its contribution to tax in Bangladesh was 22630 BDT core in 2018-2019.

Robi is the second-largest mobile network operator company in Bangladesh. It has more than 46.88 million subscribers around the country. In Ranking the top 10 companies, Robi is the 2nd telecommunication company listed in the top 5. The company commenced operation in 1997 as Telekom Malaysia International (Bangladesh) with the brand name ‘Aktel’. In 2010, it was rebranded as ‘Robi’ and the company changed its name to Robi Axiata Limited. Robi Axiata Limited (Robi) is a subsidiary company of the Asian telecom giant, Axiata Group Berhad, based in Malaysia. The other shareholder in the entity is Bharti Airtel International (Singapore) Pte Ltd. Robi has exceptionally improved its telecommunication services in past few years introducing more strong network and offers.

Robi was the first operator to introduce GPRS and 3.5G services in the country. It is the first company to launch a 4.5G service in all the 64 districts of the country. This landmark milestone was achieved on the first day of the commercial launch of the service by Robi on 20 February 2018. By the end of 2018, Robi created the largest 4.5G network in the country with nearly 7,400 sites covering 99 percent of the thanas of the country. Robi also proudly claims to have the widest international roaming coverage with 398 operators across 182 countries with the widest 4G roaming footprint in 29 countries with 40 operators.

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SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational pharmaceutical companies since 1985. It was established in 1958, converted into a public limited company in 1991, and listed on stock exchanges in 1995. The turnover of Square Pharma was BDT 50.87 Billion (US$ 609.18 million) with about 16.95% market share having a growth rate of about 10.85% (July 2018– June 2019).

SQUARE Pharmaceuticals Limited has extended its range of services towards the highway of the global market. It is the only pharmaceutical company listed 5 in the top 10 companies of Bangladesh. It pioneered exports of medicines from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products. The present export market covers 42 countries. This extension in business and services has manifested the credibility of Square Pharmaceuticals Limited.

In 2007, Malancha Holdings Ltd which was later renamed United Power Generation & Distribution Co. Ltd was born out of the necessity for ensuring uninterrupted, quality power supply to the industries housed within the Export Processing Zones (EPZ) of Bangladesh. The company has built and is currently operating a Natural Gas-fired 86 MW power plant in Dhaka EPZ, Savar, Dhaka. And another Natural Gas-fired 72 MW power plant in Chittagong EPZ at South Halishahar, Chittagong.

The Dhaka EPZ plant consists of 4 Wärtsilä Finland 20V34SG engines and 5 Rolls-Royce Norway B35:40V20AG2 engines for a combined output of 86 MW. The Chattogram EPZ plant consists of 5 Wärtsilä Finland 20V34SG engines and 3 Rolls-Royce Norway B35:40V20AG2 engines for a combined output of 72 MW. On top of supplying to the EPZs, the surplus energy is being provided to the PBS-1, Savar of Rural Electrification Board (REB) from Dhaka EPZ power plant, and to Bangladesh Power Development Board from Chattogram EPZ power plant. It is the only power plan that is listed in the top 10 companies in Bangladesh

Renata Limited (formerly Pfizer Limited) is one of the leading and fastest-growing pharmaceutical and animal health product companies in Bangladesh. The company started its operations in 1972 as Pfizer (Bangladesh) Limited. In 1993, Pfizer transferred the ownership of its Bangladesh operations to local shareholders and the name of the company was changed to Renata Limited. The core businesses of Renata Limited are human pharmaceuticals and animal health products. In Bangladesh, it is the 4th largest pharmaceutical company and the market leader in animal health products.

In addition, Renata products are exported to Afghanistan, Belize, Cambodia, Ethiopia, Guyana, Honduras, Hong Kong, Kenya, Malaysia, Myanmar, Nepal, Philippines, Sri Lanka, Thailand, the United Kingdom, and Vietnam. The Company is listed on the Dhaka Stock Exchange with a market capitalization of over USD 1 billion.

Beximco Pharmaceuticals Limited is a leading manufacturer and exporter of medicines in Bangladesh. Incorporated in 1976, the Company started its operation by importing products from Bayer, Germany, and Upjohn, USA, and selling them in the local market. It is the 3rd pharmaceutical company listed in the top 10 companies in Bangladesh. In 1980, Beximco Pharma began manufacturing these products under the licensing arrangement and the company launched its formulation brands in 1983. From that humble beginning, Beximco Pharma has grown from strength to strength. Today, it has emerged as a global generic pharma company in the region.

The Company’s manufacturing facilities have been accredited by the leading global regulatory authorities, and medicines manufactured by the Company are now being exported to more than 50 countries including the highly regulated markets of the USA, Europe, Canada, and Australia. Beximco has won the National Export (Gold) trophy 5 times. It remains the only Company in the country to win the highly prestigious SCRIP Award as the “Best Pharma Company in an Emerging Market” and also won CPhI Pharma Awards 2020 for “Innovation in Response to COVID-19.” It also has the unique distinction as the only Bangladeshi company listed on the AIM of the London Stock Exchange.

Berger is one of the oldest names in the paint industry and the country’s major specialty paints business with products and ingredients dating back more than 250 years. It is the only paint company that is on the list of top 10 companies in Bangladesh. Louis Berger, a German national, founded a dye and pigment-making business in England in 1760. Louis Berger & Sons Limited grew rapidly with a strong reputation for innovation and entrepreneurship, culminating in perfecting the process of making Prussian-Blue, a deep blue dye– a color widely used for the uniforms of many European armies. Production of dyes and pigments evolved into the production of paints and coatings, which till today, remains the core business of Berger. The company grew rapidly by establishing branches all over the world and through mergers and acquisitions with other leading paint and coating manufacturing companies.

Berger has been involved in the paint business in this part of the world since 1950, when paints were first imported from Berger UK and subsequently, from Berger Pakistan. In 1970, Berger Paints Bangladesh Limited (BPBL), erstwhile Jenson & Nicholson, had set up its paint factory in Chittagong. The name of the company was changed from J & N (Bangladesh) Limited to Berger Paints Bangladesh Limited on January 1, 1980. In August 2000, J & N Investments (Asia) Limited purchased the Government shareholding. In December 2005, the company issued 5% shares to the public and listed with Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).

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Investment Corporation of Bangladesh (ICB) is a statutory corporation of the Government of the People’s Republic of Bangladesh, established on 1 October 1976 under No. 40 of the Investment Corporation of Bangladesh Ordinance, 1976. This is the only government company that is listed in the top 10 companies in Bangladesh. It is mainly an investment bank operating in Bangladesh, established to accelerate the pace of industrialization and to develop a sound securities market in Bangladesh. ICB is one of the largest investors in the share market of Bangladesh.

Investing in the share market, providing loans and advances, and acting as manager/trustee/custodian of mutual funds are some of the main activities of ICB. It’s the most successful state-owned corporation in Bangladesh in terms of profitability. Classification of shareholders, as of 30 June 2013, shows that the Government of the People’s Republic of Bangladesh holds 27% of the shares of ICB and it is enlisted in Dhaka and Chittagong stock exchanges. In terms of Company and Group of Companies, these two words often confuse people used in common parlance. We have showcased here the top 10 companies in Bangladesh that have been renowned for their brands, products, and services. These companies have been registered on the Dhaka Stock Exchange and some of them are even registered in the foreign stock exchange markets too.

Source: DSE (2021) and Company Website

Interesting fact about the Top 10 Companies in Bangladesh

01. Bangladesh’s main industries are cotton, textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizers, sugar and light engineering.

02. The BEXIMCO Group is the largest private-sector group in Bangladesh. BEXIMCO was founded in the 1970s by two brothers – Ahmed Sohail Fasihur Rahman and Salman Fazlur Rahman.

03. Eight business conglomerates of the country have entered the billion-dollar club. These eight industrial groups are Meghna Group of Industries (MGI), City Group, Abul Khair Group, S Alam Group, TK Group of Industries, Pran, and Square Group of Industries.

04. Berger, Asian, Roxy, Pailac, Aqua, and Elite are the major players and command an almost 90% market shares (Figure 2).

05. As per the report, Bangladesh is the 35th largest economies in 2022 with a GDP size of US$460.8 billion. Earlier, the rank of Bangladesh was 41st. According to the report, the neighboring country India has moved to the fifth place in the world economy. Earlier, it was in sixth position.

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