MIRA INFORM REPORT

 

 

Report Date :

28.02.2011

 

IDENTIFICATION DETAILS

 

Name :

INCEPTA PHARMACEUTICALS LTD

 

 

Registered Office :

40 Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

24.02.1999

 

 

Com. Reg. No.:

C-37317

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, Seller & Exporter of Drugs & Medicines

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 50,000.00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Bangladesh

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY DETAILS

 

Name

Incepta Pharmaceuticals Limited

Address

40 Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208

Country

Bangladesh

Telephone No

880-2-8891688-703

Fax No

880-2-8891190

E-Mail

incepta@inceptapharma.com

info@inceptapharma.com

Website

www.inceptapharma.com

Established

1999

Company Registration No

C-37317

Registration date

24th February 1999

Legal Status

Private Limited

Issuing Authority

The Registrar of Joint Stock of Companies & Firms, Dhaka.

Business Type

Manufacturer, Seller & Exporter

Status

Satisfactory

Payment Behavior

No complaints have been heard regarding payments 

from local suppliers or banks.

 

 

LOCATIONS

 

Head Office

40 Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208, Bangladesh

Telephone No

880-2-8891688-703

Fax No

880-2-8891190

E-Mail

incepta@inceptapharma.com

info@inceptapharma.com

Website

www.inceptapharma.com

Regional Sales Office

Ahmed Mansion, 24 Shantinagar, Chamelibagh, Dhaka,

Branch

4 Chittagong

4 Sylhet

4 Bogra

4 Khulna

4 Rangpur

4 Barishal

4 Comilla

4 Cox’s Bazar

4 Jessore

4 Mymensing

4 Faridpur

Factory

Dewan Idris Road, Jirabo, Savar, Dhaka

Factory Telephone No

880-2-7792502-6

Factory Fax No

880-2-7792507

Warehouse

Dewan Idris Road, Jirabo, Savar, Dhaka

 

 

DIRECTORS

 

Name

Mr. M Abdul Muktadir

Designation

Chairman & Managing Director

Nationality

Bangladeshi

 

 

Name

Mr. M.E. Hossian

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Sitara Jabeen

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Kona Reza

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Keka Reza

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mrs. Farhana Huq

Designation

Director

Nationality

Bangladeshi

 

 

Name

Mr. Tahseen Ahmed Khan

Designation

Director

Nationality

Bangladeshi

 

SHAREHOLDERS

 

Name

Mr. M Abdul Muktadir

Designation

20%

Nationality

Bangladeshi

 

 

Name

Mr. M.E. Hossian

Designation

20%

Nationality

Bangladeshi

 

 

Name

Mrs. Sitara Jabeen

Designation

20%

Nationality

Bangladeshi

 

 

Name

Mrs. Kona Reza

Designation

10%

Nationality

Bangladeshi

 

 

Name

Mrs. Keka Reza

Designation

10%

Nationality

Bangladeshi

 

 

Name

Mrs. Farhana Huq

Designation

10%

Nationality

Bangladeshi

 

 

Name

Mr. Tahseen Ahmed Khan

Designation

10%

Nationality

Bangladeshi

 

BUSINESS DETAILS

 

Line of Business

Manufacturer, Seller & Exporter

Items Dealing In

Drugs & Medicines

Terms of Purchase

Local: Cash or Credit

Import: Against L/C

Terms of Sale

Local: Cash or Credit

Export: Against L/C / TT

 

 

BANKERS

 

Name

IFIC Bank Limited

Branch

Motijheel Branch

Address

Motijheel Commercial Area, Dhaka         

SWIFT

N/A

 

 

Name

National Bank Limited

Branch

Local Office Branch

Address

Dhaka

SWIFT

N/A

 

 

FINANCIAL INFORMATION

 

Year

2009

2008

 

2007

Investment

Tk.27 million

Tk.25 million

Tk.25 million

Turnover

Tk.391.6llion

Tk.390 million

Tk.389.4 million

Liability

Tk.2 million

Tk.2.5 million

Tk.3 million

Assets

Tk.50illion

Tk.48 million

Tk.48 million

 

CAPITAL STRUCTURE

 

Authorized Capital

Tk.30 million

Paid Up Capital

Tk.0.2 million

Each Share Value

Tk.100.00

 

 

EXCHANGE RATE

 

Currency

Unit

Bangladeshi Taka (BDT)

 

Great Britain Pound

1

115.5267

U.S Dollar

1

71.2600

European Euro

1

97.9754

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks

No Found

Debt

No Records Found

Litigation

No Records Found

Performance Defaults

No Records Found

Adverse Press Coverage

No Records Found

Money Laundering

No Records Found

 

 

MAXIMUM RECOMMENDED CREDIT

 

Amount

Based On

US$ 50,000.00

90 days

 

GENERAL INFORMATION

 

Employees

540

Office Area (Sq. Ft)

3,300 sq.ft (rented)

Factory Area (Sq. Ft)

1.5 Acres of land (own)

Warehouse Area (Sq. Ft)

7,800 sq.ft. (own)

Range of Products

4 Tablets

4 Capsules

4 Suspensions

4 Injections

4 Eye Drops

4 Creams

4 Ointments

Raw Materials From

4 EEC Countries

4 Daewoong-----Korea

4 Singapore

4 Pakistan

4 Malaysia

4 Ribbon-----Italy

Brand Name

Incepta

Number of Products

110

Major Clients

4 Central Medical Store Depot, Bangladesh Government

4 Bangladesh Army

4 Bangladesh Rifles

4 Police Hospital

4 BIRDEM

4 Chittagong Medical College & Hospital

4 M.A.G. Osmani Medical College & Hospital Sylhet

4 HCDP (Health care Development project)

4 Apollo Hospitals

4 United Hospital

4 Square Hospitals Ltd

4 Labaid Cardiac Hospital

4 Lab Aid Specialized Hospital

Certifications

NIL

Group Name

Impress Group

Subsidiaries / Affiliates

4 Impress Telefilms Limited

4 Impress Channels Limited

4 Impress Garments Limited

4 Impress Textiles Limited

Member

4 Bangladesh Aushad Shilpa Samity, Dhaka

4 Dhaka Chamber of Commerce & Industries, Dhaka

 

COMMENTS

 

The subject is a private limited company who is engaged in manufacturing and selling of drugs and medicines. The company is now expanding its activities beyond the geographical boundary of Bangladesh. The products are of high standard and therefore these will be exported to both developed and developing countries. Incepta Pharmaceuticals Limited is a leading pharmaceutical company in Bangladesh involved in manufacturing and marketing of medicines of different therapeutic groups.


It has a very large manufacturing plant located near Dhaka city, capable of producing tablets, liquid, capsules, injections etc. The company’s factory is most modern and the quality of their products is of international standard. Their products are popular and economic and are sold all over the country.

 

In the post 2005 era, the company also intends to embark into the production of Active Pharmaceutical Ingredient (API). Plans are underway to get into reverse engineering and analogue research in order to produce new API.

 

The company posted a sale of 4.52 billion in sales in 2009, with a market share of 9.24% and is currently in second position.

 

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.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.25

Euro

1

Rs.62.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.