MIRA
INFORM REPORT
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Report Date : |
14.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
Renata Limited |
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Registered Office : |
House No. 450, Road No. 31, New DOHS, Mohakhali, Dhaka - 1206 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
6th July, 1972 |
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Com. Reg. No.: |
C-3755 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturer,
Seller and Exporters of Drugs and Medicines |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name
Renata Limited
Address
House
No.450,
Road No. 31,
New DOHS,
Mohakhali,
Dhaka -
1206.
Country : Bangladesh
Tel. No. : 880-2-9860914-15, 8850918-19
Fax No. : 880-2-8815210,
E-Mail : renata@renata-ltd.com
Established
1972
(As Pfizer Laboratories Bangladesh Limited)
Incorporation No.
C-3755
Incorporation Date
6th July,1972
Legal Structure
The subject is a Public Limited Company that was incorporated in the Registrar of Joint Stock of Companies, Dhaka.
Business Type
Manufacturer,
Seller and Exporters of Drugs and Medicines
Payments
No complaints have
been heard regarding payments from local suppliers or banks.
Litigation
NIL
Branch
1 Sylhet
1 Chittagong
1 Khulna
1 Bogra
1 Mymensingh
1 Rangpur
1 Barishal
1 Faridpur
1 Comilla
1 Maijdee
1 Pabna
1 Jessore
Factory
Section - 7,
Mirpur,
Dhaka-1216,
Warehouse
Section - 7,
Mirpur,
Dhaka-1216,
DIRECTORS & SHAREHOLDERS
Name: Mr. S. H. Kabir
Designation: Chairman
Name: Mr. Syed S.Kaiser
Kabir
Designation: Managing
Director
Name : Dr. Sarwar Ali
Designation : Director
Name : Mrs. Sajida
Humayun Kabir
Designation : Director
Name : Mr. M. Ziaul Haque
Khondker
Designation : Director
Name : Mr. M. A. Hasnath
Khan
Designation : Director
BUSINESS DETAILS
Line of Business: Manufacturer, Sellers and Exporter
Items Dealing In: Drugs and Medicine
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Standard Chartered
Bank
Address: Dilkusha
Commercial Area,
Dhaka
Name : HSBC,
Address : Anchor Tower,
Sonargaon Road,
Dhaka
Name : Mutual Trust Bank
Limited
Address : Motijheel
Commercial Area,
Dhaka
Name : Eastern Bank
Limited
Address : Motijheel
Commercial Area,
Dhaka
Name : Citibank N.A,
Address : Motijheel
Commercial Area,
Dhaka
Name : Sonali Bank
Address : Motijheel
Commercial Area,
Dhaka
Name : Agrani Bank
Limited
Address : Motijheel
Commercial Area,
Dhaka
The company performs most of the business transactions with the above
mentioned bank. No more details were provided.
FINANCIAL INFORMATION
BALANCE
SHEET
As
at 31 December, 2006
|
Assets |
Taka |
|
Property Plant & Equipments |
689,066,469 |
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Capital Work in Progress |
44,121,037 |
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Investment & Subsidiary |
63,070,376 |
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Other Investment |
1,000,000 |
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Total Non-Current Assets |
797,257,882 |
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Investments |
638,784,952 |
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Trade & Other Receivables |
198,626,085 |
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Advance Deposit & Prepayment |
59,308,451 |
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Cash & Cash Equivalents |
82,035,371 |
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Total Current Assets |
979,254,839 |
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Total Assets |
1,776,512,741 |
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Equity |
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Share Capital |
80,332,400 |
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Revelation Surplus |
156,018,160 |
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Tax Holiday Reserve |
47,451,353 |
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Proposed Stock Dividend |
16,066,500 |
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Proposed cash Dividend |
40,166,200 |
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Retained earnings |
642,278,182 |
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Total Equity Antibubales Equity Holders of the company |
982,312,795 |
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Liabilities |
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Differed Liability Staffs Gratuity
|
72,656,492 |
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Differed Tax Liabilities |
62,651,763 |
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Total Non-Current Liabilities |
135,318,255 |
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Bank Overdraft |
371,848,683 |
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Creditors for Goods |
51,607,325 |
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Accrued Expenses |
71,050,788 |
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Other Payables |
68,360,467 |
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Unclimbed Dividend |
1,792,199 |
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Provision for taxation |
94,222,229 |
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Total Current Liabilities |
658,881,691 |
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Total Liabilities |
794,199,946 |
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Total Equity & Liabilities |
1,776,512,741 |
PROFIT
AND LOSS ACCOUNTS
As
at 31 December, 2006
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|
Non-Tax Holiday Unit 1 2 & 3 |
Tax Holiday Unit 4 |
Total
Taka |
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Turnover |
1,914,2004,427 |
13,527,458 |
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1,927,731,885 |
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Cost of Sales |
(969,853,368) |
(8,536,841) |
978,390.209 |
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944,351,059 |
4,990,617 |
949,341,676 |
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Other Income |
32,868,293 |
------------ |
32,868,293 |
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977,219,352 |
4,990,617 |
982,209,969 |
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Operating Expenses : Administrative, selling and distribution expenses |
(574,620,642) |
(3,164,915) |
(577,785,557 |
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402,598,710 |
1,825,702 |
404,424,412 |
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Gain on Disposal of property plant & Equipment |
1,928,200 |
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1,928,200 |
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Interest on overdraft |
(39,485,188) |
(280,000) |
(39,765,188) |
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Other expenses |
(2,634,492) |
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(2,634,492) |
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Contribution to WPPF |
(16,657,560) |
(73,605) |
(16,731,165) |
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Profit before Tax |
345,749,670 |
1,472,097 |
347,221,767 |
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Tax Expenses |
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Current tax |
(98,232,128) |
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(98,232,128) |
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Deferred Tax |
(6,858,002) |
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(6,858,002) |
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(105,090,130) |
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(105,090,130 |
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Profit Available
for appropriation |
240,659,540 |
1,472,097 |
242,131,637 |
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Appropriation |
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Tax Holiday Reserve |
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588,839 |
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Proposed Stock Dividend |
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16,066,500 |
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Proposed Cash Dividend |
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40,166,200 |
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Retained Earnings |
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185,310,098 |
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Profit for the
period |
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242,131,637 |
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Basic earning per Share per value of tk.100.00 |
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301.41 |
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Auditor
Rahman Rahman Huq
Chartered Accounts
CAPITAL STRUCTURE
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Authorized Capital |
: |
TK.100 million |
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Paid Up Capital |
: |
Tk.80,332,400 |
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Each Share Value |
: |
Tk.100.00 |
EXCHANGE RATE
CURRENCY UNIT BANGLADESHI TAKA
Great Britain
Pound 1 143.7238
U.S Dollar 1
69.4023
European Euro 1 101.3730
Japanese Yen 1 0.6176
Australian Dollar 1
63.2055
GENERAL INFORMATION
No. of Employees: 1,270
Executives----------------- 15
Junior Executives--------- 22
Engineers---------------------3
Chemist-----------------------3
Pharmacists-------------------9
Sales
Promotion Officers-- 280
Junior Sales
Officers-------370
Quality
Control--------------12
Supervisory
Staffs----------50
Support
Staffs----------------9
General
Staffs---------------22
Workers--------------------475
Office Area: 4,550 sq.ft (own)
Factory Area: 12 acres of lands (Own)
Warehouse Area: 4,855
sq.ft.(Own)
Range of Products
1 Beconex Z1 Syrup
1 Becosule Gold Capsule
1 Calcin D Tablets
1 Cefotax IM/TV Injections
1 Cefficlor Drops/Capsule &
Tablets
1 Emcon Tablets
1 Honeycol Linctus
1 Meropen IV Injections
1 Neurobest Tablets
1 Orcef Drops
1 Ovulet Capsule & Tablets
1 Protonil Tablets
1 Pyra Plus Tablets
1 Relexid Tablets
1 Thyrox Tablets
1 Xenapro Tablets
Export To
1 Sri Lanka
1 Nepal
1 Bhutan
1 Myanmar
Raw Materials Imported From
USA
EEC Countries
Korea
Malaysia
China
Singapore
Thailand
India
Australia
Japan
Austria
Indonesia
New Zealand
Denmark
Hong Kong
Certification
1 ISO-9001
Name of the Group
Renata Group
Subsidiaries
Renata Agro
Industries Limited, Dhaka
Purnava Limited,
Dhaka
Member
1 Dhaka Chamber of Commerce &
Industries, Dhaka
1 Bangladesh Textile Mills
Association, Dhaka
1 Bangladesh Ausha Shilpa Samity
Association, Dhaka.
Listed with
1 Dhaka Stock Exchange Limited, Dhaka
1 Chittagong Stock Exchange Limited,
Chittagong
COMMENTS
The subject is a public limited pharmaceutical industry and
their medicines are very popular all over the country. The subject has got a
most modern factory at their major products are licensed form Pfizer
corporation, USA.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
their business commitments, it is reported.
The company is good for normal business engagements.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)