MIRA
INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
Renata Ltd. |
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Formerly Known As : |
PFIZER LABORATORIES BANGLADESH LIMITED |
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Registered Office : |
House No.450, Road No.31, New
DOHS, Mohakhali, Dhaka-1206 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
06.07.1972 |
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Com. Reg. No.: |
C-3755 |
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Legal Form : |
Public Limited |
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Line of Business : |
Manufacturer, Seller and Exporter of Drug & Medicine |
RATING & COMMENTS
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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 : |
Good |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY DETAILS
|
Name |
Renata Limited |
|
Address |
House No.450, Road No.31, New
DOHS, Mohakhali, Dhaka-1206 |
|
Country |
Bangladesh |
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Telephone No |
880-2-9860614-15, 8850918-19 |
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Fax No |
880-2-88151210 |
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E-Mail |
renata@renata-ltd.com |
|
Website |
www.renata-ltd.com |
|
Established |
1972 (As Pfizer Laboratories Bangladesh Limited) |
|
Company Registration No |
C-3755 |
|
Registration date |
6th July,1972 |
|
Legal Status |
Public Limited |
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Issuing Authority |
The Register of Joint Stock
Companies & Firms, Dhaka |
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Business Type |
Manufacturer, Seller and Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers or banks. |
LOCATIONS
|
Head Office |
House No.450, Road No.31, New
DOHS, Mohakhali, Dhaka-1206 |
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Telephone No |
880-2-9860614-15, 8850918-19 |
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Fax No |
880-2-88151210 |
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E-Mail |
renata@renata-ltd.com |
|
Website |
www.renata-ltd.com |
|
Branch |
4 Sylhet 4 Chittagong 4 Khulna 4 Bogra 4 Mymensingh 4 Rangpur 4 Barishal 4 Faridpur 4 Comilla 4 Maijdee 4 Pabna 4 Jessore |
|
Factory |
Plot No. 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216 |
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Factory Telephone No |
880-2-8011012,
8011013 |
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Factory Fax No |
880-2-8011956 |
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Warehouse |
Plot No. 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216 |
DIRECTORS
|
Name |
Mr. S.H. Kabir |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Syed S. Kaiser Kabir |
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Designation |
Managing Director |
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Nationality |
Bangladeshi |
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Name |
Dr. Sarwar Ali |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mrs. Sajida Humayun Kabir |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
Mr. M.A. Hasnath Khan |
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Designation |
Director |
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Nationality |
Bangladeshi |
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Name |
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Designation |
Director |
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Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer, Seller and Exporter |
|
Items Dealing In |
Drug & Medicine |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit Export: Against L/C |
BANKERS
|
Name |
Standard Chartered Bank |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
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SWIFT |
N/A |
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|
|
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Name |
HSBC, |
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Branch |
Sonargaon Road Branch |
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Address |
Sonargaon Road, Dhaka |
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SWIFT |
N/A |
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|
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|
Name |
Mutual Trust Bank Limited |
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Branch |
Motijheel Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
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Name |
Eastern Bank Limited |
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Branch |
Motijheel Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
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Name |
Citibank N.A, |
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Branch |
Motijheel Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
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|
|
Name |
Sonali Bank Ltd |
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Branch |
Motijheel Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
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|
Name |
Agrani Bank Limited |
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Branch |
Motijheel Branch |
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Address |
Motijheel C/A, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
BALANCE
SHEET
As at
31 March, 2010
|
Assets |
Taka |
|
Property Plant & Equipments |
1,353,611 |
|
Capital Work in Progress |
8
36,706 |
|
Long term Investment, loans and advances |
8
1,225 |
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Total Non-Current Assets |
2,271,542 |
|
Inventories |
1,151,554 |
|
Debtors |
3
69,937 |
|
Advance Deposit & Prepayment |
9
5,242 |
|
Cash & Cash Equivalents |
3
93,132 |
|
Total Current Assets |
2,009,865 |
|
Total Assets |
4 ,281,407 |
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Equity & Liabilities |
|
|
Share Capital |
1
44,598 |
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Revelation Surplus |
1
54,597 |
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Tax Holiday Reserve |
8
3,347 |
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Retained earnings |
2,011,933 |
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Total Equity Attributed to Equity Holders of the company |
2
,394,475 |
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Liabilities |
|
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Differed Liability Staffs Gratuity |
1
28,969 |
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Differed Tax Liabilities |
1
10,179 |
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Total Non-Current Liabilities |
239,148 |
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Current Liabilities |
|
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Bank Overdraft |
763,787 |
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Creditors and accruals |
883,997 |
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Total Current Liabilities |
1,647,784 |
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Total Equity & Liabilities |
4,281,407 |
Income Statement
For the period January-March 2010
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Total Taka |
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Turnover and other income |
1,224,156 |
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Cost and Expenses: |
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Cost of goods sold |
5
37,970 |
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Administrative expenses |
3
1,450 |
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Selling and distribution expenses |
3
53,909 |
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Interest expenses and non operating expenses |
3
0,615 |
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Allocation to WPPF |
1
2,867 |
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Total Cost and Expenses |
9
66,811 |
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Net Profit before tax |
(2
57,345 |
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Provision for income tax |
7
0,150 |
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Net profit after tax |
1 87,195 |
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Basic
earnings per share i.e. EPS (par value of Tk.100) |
1 29.46 |
|
Auditor: Rahman
Rahman Huq
Chartered
Accounts
CAPITAL STRUCTURE
|
Authorized Capital |
TK.100 million |
|
Paid Up Capital |
Tk.80,332,400 |
|
Each Share Value |
Tk.100.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
113.8898 |
|
U.S Dollar |
1 |
71.1500 |
|
European Euro |
1 |
96.4011 |
ADVERSE DATA MONITORING
|
Dishonored Checks |
No Found |
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Debt |
No Records Found |
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Litigation |
No Records Found |
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Performance Defaults |
No Records Found |
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Adverse Press Coverage |
No Records Found |
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Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based
On |
|
US$ 50,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
2,623 |
|
Office Area (Sq. Ft) |
4,550 sq.ft (own) |
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Factory Area (Sq. Ft) |
12 acres of lands (Own) |
|
Warehouse Area (Sq. Ft) |
4,855 sq.ft.(Own) |
|
Range of Products |
4 Beconex Z1 Syrup 4 Becosule Gold Capsule 4 Calcin D Tablets 4 Cefotax IM/TV Injections 4 Cefficlor Drops/Capsule &
Tablets 4 Emcon Tablets 4 Honeycol Linctus 4 Meropen IV Injections 4 Neurobest Tablets 4 Orcef Drops 4 Ovulet Capsule & Tablets 4 Protonil Tablets 4 Pyra Plus Tablets 4 Relexid Tablets 4 Thyrox Tablets 4 Xenapro Tablets |
|
Export Market |
4 Sri Lanka 4 Nepal 4 Bhutan 4 Myanmar |
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Raw Materials From |
4 USA 4 EEC Countries 4 Korea 4 Malaysia 4 China 4 Singapore 4 Thailand 4 India 4 Australia 4 Japan 4 Austria 4 Indonesia 4 New Zealand 4 Denmark 4 Hong Kong |
|
Global Partners |
4 Novartis Vaccines (Rabipur,
Vaxem HiB, and Agrippal) 4 BASF, Germany (Animal
Nutrition Products) 4 InterVax, Canada
(Meningococcal Vaccine) 4 Evans Vanodine, UK
(Disinfectant) 4 Zinpro, USA (Metal Amino Acid
Complexes) 4 Biomin Laboratories, Singapore
(Mycotoxin Binders and Nutraceuticals) 4 Bomac Laboratories, New
Zealand (Veterinary Products) |
|
Certifications |
4 ISO-9001 |
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Group Name |
4 Renata Group |
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Subsidiaries / Affiliates |
4 Renata Agro Industries
Limited, Dhaka 4 Purnava Limited, Dhaka |
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Member |
4 Dhaka Chamber of Commerce
& Industries, Dhaka 4 Bangladesh Aushad Shilpa
Samity Association, Dhaka. |
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Listed with |
4 Dhaka Stock Exchange Limited,
Dhaka 4 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
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 |
|
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.