MIRA INFORM REPORT
|
Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RENATA LIMITED |
|
|
|
|
Registered Office : |
House No.450, Road No.31, New DOHS,
Mohakhali, Dhaka-1206 |
|
|
|
|
Country : |
Bangladesh |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
|
Date of Incorporation : |
06.07.1972 |
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|
|
|
Com. Reg. No.: |
C-3755 |
|
|
|
|
Legal Form : |
Public Limited |
|
|
|
|
Line of Business : |
Manufacturer, Seller and Exporter of Drug & Medicine |
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|
|
|
No. of Employees : |
2,700 |
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's economy has grown 5.8% per year
since 1996 despite political instability, poor infrastructure, corruption,
insufficient power supplies, and slow implementation of economic reforms.
Bangladesh remains a poor, overpopulated, and inefficiently-governed nation.
Although more than half of GDP is generated through the service sector, 45% of
Bangladeshis are employed in the agriculture sector with rice as the
single-most-important product. Bangladesh's growth was resilient during the
2008-09 global financial crisis and recession. Garment exports, totaling $12.3
billion in FY09 and remittances from overseas Bangladeshis, totaling $11
billion in FY10, accounted for almost 12% of GDP.
|
Source
: CIA |
|
Name |
RENATA LIMITED |
|
Address |
House No.450, Road No.31, New DOHS,
Mohakhali, Dhaka-1206 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9860614-15, 8850918-19 |
|
Fax No |
880-2-88151210 |
|
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 |
|
Issuing Authority |
The Register of Joint Stock Companies &
Firms, Dhaka |
|
Business Type |
Manufacturer, Seller and Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local suppliers or banks. |
|
Head Office |
House No.450, Road No.31, New DOHS,
Mohakhali, Dhaka-1206 |
|
Telephone No |
880-2-9860614-15, 8850918-19 |
|
Fax No |
880-2-88151210 |
|
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 |
|
Factory Telephone No |
880-2-8011012, 8011013 |
|
Factory Fax No |
880-2-8011956 |
|
Warehouse |
Plot No. 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216 |
|
Name |
Mr. S.H. Kabir |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Syed S. Kaiser Kabir |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Dr. Sarwar Ali |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Sajida Humayun Kabir |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
|
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. M.A. Hasnath Khan |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
|
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Sponsor Director |
|
Share Percent |
51% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Institute |
|
Share Percent |
15.03% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Foreign |
|
Share Percent |
22.44% |
|
Nationality |
N/A |
|
|
|
|
Name |
General Public |
|
Share Percent |
11.53% |
|
Nationality |
Bangladeshi |
|
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 |
|
Name |
Standard Chartered Bank |
|
Branch |
Dilkusha Branch |
|
Address |
Dilkusha Commercial Area, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
HSBC, |
|
Branch |
Sonargaon Road Branch |
|
Address |
Sonargaon Road, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Mutual Trust Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Eastern Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Citibank N.A, |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Sonali Bank Ltd |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Agrani Bank Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A, Dhaka |
|
SWIFT |
N/A |
Balance Sheet
As at 31 December,
2011
|
Assets |
Taka |
|
Property Plant & Equipments |
3,782,849,367 |
|
Capital Work in Progress |
1,370,222,641 |
|
Investment in subsidiaries |
63,070,376 |
|
Other investment |
11,333,863 |
|
Total non-current assets |
5,227,476,247 |
|
Current assets |
|
|
Inventories |
1,585,100,179 |
|
Trade and other receivables |
640,195,291 |
|
Advance deposits and prepayments |
97,564,211 |
|
Cash and cash equivalents |
141,265,972 |
|
Total current assets |
2,464,125,653 |
|
Total assets |
7,691,601,900 |
|
EQUITY AND LIABILITIES |
|
|
Equity attributable to equity holders of the company |
3,958,608,036 |
|
Non-current liabilities |
|
|
Deferred liability-staff gratuity |
149,138,826 |
|
Deferred tax liability |
198,004,754 |
|
Total non-current liabilities |
347,143,580 |
|
Current liabilities |
|
|
Bank overdraft and short term loan |
2,402,992,758 |
|
Creditors for goods |
50,168,661 |
|
Accrued expenses |
326,941,029 |
|
Other liabilities |
343,920,388 |
|
Unclaimed dividend |
6,551,459 |
|
Provision for taxation |
255,275,989 |
|
Total current liabilities |
3,385,850,284 |
|
Total liabilities |
3,732,993,864 |
|
Total equity and liabilities |
7,691,601,900 |
Income Statement
For the Year Ended 31 December 2011
|
|
Taka |
|
|
Turnover |
5,090,318,113 |
|
|
Cost of sales |
(2,405,361,976) |
|
|
Gross profit |
2,684,956,137 |
|
|
Operating expenses: |
|
|
|
Administrative, selling and distribution
expenses |
(1,378,630,620) |
|
|
Operating profit |
1,306,325,517 |
|
|
Other income |
5,992,117 |
|
|
Gain/(loss) on disposal of property, plant and
equipment |
593,908 |
|
|
Interest on overdraft |
(117,473,675) |
|
|
Other expenses |
(8,195,771) |
|
|
Contribution to WPPF |
(56,480,177) |
|
|
Profit before tax |
1,130,761,919 |
|
|
Tax expenses |
(278,175,022) |
|
|
Net Profit after tax for the year |
852,586,897 |
|
|
Other Comprehensive Income |
(1,158,365) |
|
|
Total Comprehensive Income for the Yea |
851,428,532 |
|
|
Basic Earning per share (per value of Tk. 10) |
37.74 |
|
|
Authorized
Capital |
Tk.1000 million |
|
Paid Up Capital |
Tk.282 million |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka
(BDT) |
|
Great Britain Pound |
1 |
119.6321 |
|
U.S Dollar |
1 |
77.8500 |
|
European Euro |
1 |
101.0882 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
|
Litigation |
No Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
|
Employees |
2,700 |
|
Office Area (Sq.
Ft) |
4,550 sq.ft (own) |
|
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 |
|
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 |
|
Group Name |
4 Renata Group |
|
Subsidiaries /
Affiliates |
4 Renata Agro Industries Limited, Dhaka 4 Purnava Limited, Dhaka |
|
Member |
4 Dhaka Chamber of Commerce & Industries, Dhaka 4 Bangladesh Aushad Shilpa Samity Association, Dhaka. |
|
Listed with |
4 Dhaka Stock Exchange Limited, Dhaka 4 Chittagong Stock Exchange Limited, Chittagong |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
|
Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
|
|
1 |
Rs.84.44 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
|
---- |
NB |
New Business |
---- |
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.