MIRA INFORM REPORT
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Report No. : |
356829 |
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Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SQUARE PHARMACEUTICALS LIMITED |
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Registered Office : |
Square Centre, 48, Mohakhali C/A, Dhaka-1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.09.2015 |
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Date of Incorporation : |
10.11.1964 |
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Com. Reg. No.: |
C-2252
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Legal Form : |
Public Listed Co |
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Line of Business : |
Manufacturer, Distributor & Exporter of Pharmaceutical Finished
Products, Basic Chemicals, Agro Vet Products Pesticide Products, Small Volume
Parental Ophthalmic Products and Insulin Products. |
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|
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Employees: |
5868 |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
|
Status : |
Excellent |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
BANGLADESH - ECONOMIC OVERVIEW
Bangladesh's economy has grown roughly 6% per year since 1996
despite political instability, poor infrastructure, corruption, insufficient
power supplies, slow implementation of economic reforms, and the 2008-09 global
financial crisis and recession. Although more than half of GDP is generated
through the service sector, almost half of Bangladeshis are employed in the
agriculture sector with rice as the single-most-important product. Garment
exports, the backbone of Bangladesh's industrial sector, accounted for more
than 80% of total exports and surpassed $18 billion in 2014. The sector has
remained resilient in recent years amidst a series of factory accidents that
have killed over 1,000 workers and crippling strikes that shut down virtually
all economic activity. Steady garment export growth combined with remittances
from overseas Bangladeshis - which totaled $14 billion and 8% of GDP in 2014 -
are the largest contributors to Bangladesh's current account surplus and rising
foreign exchange holdings.
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Source
: CIA |
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
SQUARE PHARMACEUTICALS LIMITED |
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Head Office |
: |
Square Centre, 48, Mohakhali C/A, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-8833047-56, 9859007 |
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Fax No |
: |
88-02-8834941, 8828768 |
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E-mail |
: |
info@squaregroup.com |
|
Website |
: |
www.squarepharma.com.bd |
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Date/ Year of Incorporation |
: |
10.11.1964 |
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Incorporation No. |
: |
C-2252
|
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
|
Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS-
SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
|
31-03-2015 |
BDT 8,289,575,188 (01-07-2014~30-09-2014) |
BDT 3 5,191,156,263 |
BDT 1,214,471,161 (01-07-2014~30-09-2014) |
|
30-09-2015 |
BDT 9,365,355,120 (01-07-2015~30-09-2015) |
BDT 38,712,412,981 |
BDT 1,842,000,739 (01-07-2015~30-09-2015) |
|
Exchange
Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Khandaker Habibuzzaman |
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Designation |
: |
Company Secretary |
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Contract No |
: |
N/A |
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Locations Details |
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|
Operating Address |
: |
Square Centre, 48, Mohakhali C/A, Dhaka-1212, Bangladesh. |
|
Tel No |
: |
88-02-8833047-56, 9859007 |
|
Fax No |
: |
88-02-8834941, 8828768 |
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E-mail |
: |
info@squaregroup.com |
|
Website |
: |
www.squarepharma.com.bd |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
8500 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
Ö |
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Semi-commercial office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory 1: |
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Address |
: |
Momin Nagar, Gorai, Mirzapur, Tangail,
Bangladesh |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Location : |
Owned |
Ö |
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Rented |
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Leased |
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Area |
5 |
Acres |
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Factory 2: |
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Address |
: |
Square Road, Salgaria, Pabna, Bangladesh. |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
2.5 |
Acres |
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Factory 3: |
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Address |
: |
Board Ghar Bazar Kaliakoir, Gazipur,
Bangladesh. |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Location : |
Owned |
Ö |
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Rented |
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Leased |
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Area |
2 |
Acres |
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Branches: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of
Employees |
In Office |
: |
2829 |
Worker |
: |
1288 |
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In Branch: |
: |
1751 |
Total |
: |
5868 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of Share |
|
Mr. Samuel S Chowdhury |
39150140 |
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Mrs. Ratna Patra |
37521827 |
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Mr. Tapan Chowdhury |
40002534 |
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Dr. Kazi Harunar Rashid |
21209995 |
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Mr. Anjan Chowdhury |
40509040 |
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Mr. Kazi Iqbal Harun |
23042831 |
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Mr. Md. Kabir Reza |
7039 |
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Mr. Khandaker Habibuzzaman |
209 |
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Mr. Anjan Kumar Paul |
85000 |
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Mr. Muhammadul Haque |
33931 |
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Mr. Mahbubur Rahman |
7416 |
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Mr. Tapan Chowdhury |
40002534 |
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General Public |
312726656 |
DIRECTORS
|
Name |
Designation |
|
Mr. Samuel S. Chowdhury |
Chairman |
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Mrs. Ratna Patra |
Vice Chairman |
|
Mr. Tapan Chowdhury |
Managing Director |
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Dr. Kazi Harunar Rashid |
Director |
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Mr. Anjan Chowdhury |
Director |
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Mr. Kazi Iqbal Harun |
Director |
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Mr. M. Sekander Ali |
Independent Director |
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Mrs. Nihad Kabir |
Independent Director |
MANAGEMENT
|
Name |
: |
Mr. Parvez Hashim |
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Job Description |
: |
Head of Operations |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. M Ashiqul Hoque Chawdhury |
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Job Description |
: |
Head of Admin & Supply Chain |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Md. Kabir Reza |
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Job Description |
: |
Head of Accounts & Finance |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of
Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products: |
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Products |
: |
Pharmaceutical Finished Products, Basic Chemicals, Agro Vet Products
Pesticide Products, Small Volume Parental Ophthalmic Products and Insulin
Products. |
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Production
Capacity |
: |
N/A |
|
Last Year
Production |
: |
N/A |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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|
days |
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Selling
Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED
DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local Pharmacy |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
Europe |
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Imports |
: |
India, China |
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Brand Name |
: |
Square |
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Certified |
: |
Nil |
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Auditors |
: |
M/s. Das Chowdhury Dutta & Co. Chartered Accountants Well Tower, 1st Floor, Flat-A/1 12/A Purana Paltan Line, Dhaka |
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Operation Status |
: |
Active |
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Member |
: |
Dhaka Chamber of Commerce & Industry |
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CAPITAL
STRUCTURE
|
Authorized
Capital : BDT 10,000,000,000 |
||||
|
Paid-up
Capital |
: |
BDT 5,542,991,520 |
No. of Shares : 554299152 |
Share Value : BDT 10.00Each |
|
Main
Assets |
: |
BDT 38,712,412,981 |
||
FINANCIAL
STATEMENT- DETAILED
|
Balance Sheet : |
||
|
|
Currency |
: BDT |
|
|
Denomination |
: 1 |
|
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Financial Year Ending |
: 30-09-2015 |
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Income Statement
: |
||
|
|
Currency |
: BDT |
|
|
Denomination |
: 1 |
|
|
Financial Year Ending |
: 30-09-2015 |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
Squre Yarns Ltd. Unitrend Limited Mediacom Limited Square Air Limited Square Fashion Ltd. Square Textiles Ltd. Square Hospitals Ltd. Square Spinning Ltd. Square InformatiX Ltd. Square Knit fabrics Ltd. Square Toiletries Limited Square Consumer Products Ltd. Square Herbal and Nutraceuticals Ltd. Square Agro Development and Processing Ltd |
|
Subsidiary |
: |
Square Cephalosporins Ltd. Square Formulations Ltd. |
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Name of The Group |
: |
Square Group |
BANKINg
|
Bank Name |
: |
HSBC Citibank N.A Trust Bank Ltd. Bank Asia Ltd. Janata Bank Ltd Prime Bank Ltd. BRAC Bank Ltd. Bank Alfalah Ltd. Eastern Bank Ltd. Marcantile Bank Ltd. Standard Chartered Bank Shahjalal Islami Bank Ltd. Commercial Bank of Ceylon |
ADVERSE
DATA MONITORING
|
Dishonored
Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
|
Performance
Defaults |
: |
No Record Found |
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Adverse Local
Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE
VISIT COMMENTARY
|
Our representative visited the subject company Head address which is
situated at 48, Mohakhali C/A, Dhaka-121, Bangladesh. It is situated at
commercial area. |
GENERAL
COMMENTS
|
The subject company is engaged in Manufacturer, Importer, Exporter
& Distributors. It is reputed company in this line of business. We
recommended that Credit can proceed with favorable terms in Large amount. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
BDT |
1 |
Rs.0.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIT |
|
|
|
|
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.