MIRA INFORM REPORT
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Report No. : |
328312 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORION PHARMA
LIMITED |
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|
Formerly Known As : |
ORION LABORATORIES
LIMITED |
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Registered Office : |
Orion House, 153-154 Tejgaon I/A, Dhaka-1208 |
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Country : |
Bangladesh |
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Financials (as on) : |
31.03.2015 |
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Date of Incorporation : |
21.06.1965 |
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Com. Reg. No.: |
C-2376 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturer, Marketing, Exporter and Importer of Anticancer, Antibiotics, Cardiovascular Drugs. |
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No. of Employees : |
2086 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
|
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.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
IDENTIFICATION DETAILS |
||
|
Correct company Name |
: |
Orion Pharma Limited |
|
Previous Name |
: |
Orion Laboratories Limited |
|
Head Office |
: |
Orion House, 153-154 Tejgaon I/A, Dhaka-1208, Bangladesh. |
|
Tel No |
: |
88 02 8870130, 8870133, 8870134 |
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Fax No |
: |
88 02 8870108 |
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E-mail |
: |
|
|
Website |
: |
www.orionpharmabd.com |
|
Date/ Year of Incorporation |
: |
21.06.1965 |
|
Incorporation No. |
: |
C-2376 |
|
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 |
|
31st December 2014 |
BDT
504,808,355 (31/01/2014~31.03.2014) |
BDT
15,797,833,200 |
BDT
165,916,230 (31/01/2014~31.03.2014) |
|
31st March, 2015 |
BDT
538,860,815 (31/01/2011~31.03.2015) |
BDT
15,848,433,593 |
BDT
91,094,716 (31/01/2011~31.03.2015) |
|
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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|
|
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Name |
: |
Mr. Samaresh
Banik |
|
Designation |
: |
Chief Financial
Officer |
|
Contract No |
: |
N/A |
|
Locations Details |
||
|
Operating Address |
: |
Orion House, 153-154 Tejgaon I/A, Dhaka-1208, Bangladesh. |
|
Tel No |
: |
88 02 8870130, 8870133, 8870134 |
|
Fax No |
: |
88 02 8870108 |
|
E-mail |
: |
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|
Website |
: |
www.orionpharmabd.com |
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Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
5400 |
Sq. ft. |
|
Type of
Office : |
:
Commercial Office Bldg. |
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|
Semi-commercial office Bldg. |
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|
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Retail shop |
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Industrial Park |
Ö |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
: |
Orion House, 153-154 Tejgaon I/A, Dhaka-1208, Bangladesh. |
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Tel No |
: |
88-02-8870130, 01730333595 |
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Fax No |
: |
88-02-8870133 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
43300 |
Sq. ft. |
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Branches: |
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Address |
: |
Dhaka, Chittagong, Khulna, Comilla, Rajshahi,
Bogra, Rangpur, Sylhet, Khulna, Barishal. |
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Employee: |
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No. of Employees |
In Office |
: |
86 |
In Factory |
: |
2000 |
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In Branch: |
: |
- |
Total |
: |
2086 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
|
Names of Shareholders |
No. of
Share |
|
Mr. Mohammad Obaidul Karim |
35514000 |
|
Mr. Md. Salman Obaidul Karim |
9708960 |
|
Mr. Arzuda Karim |
8805600 |
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Mrs. Hasina Begum |
14400000 |
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Mrs. Zerin Karim |
6413040 |
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Institutional |
56949480 |
|
General Public |
102208920 |
DIRECTORS
|
Name |
Designation |
|
Mr. Mohammad Obaidul Karim |
Managing Director |
|
Mr. Md. Salman Obaidul Karim |
Director |
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Mr. Arzuda Karim |
Director |
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Mrs. Hasina Begum |
Director |
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Mrs. Zerin Karim |
Director |
MANAGEMENT
|
Name |
: |
Mr. Samaresh
Banik |
|
Job Description |
: |
Chief Financial
Officer |
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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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|
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Name |
: |
Mr. Md. Ferdous Jaman |
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Job Description |
: |
Company Secretary |
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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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Marketing |
Ö |
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Exporter |
Ö |
Importer |
Ö |
Services |
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Others |
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Range of Products: |
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Products |
: |
Anticancer, Antibiotics, Cardiovascular Drugs. |
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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 : |
|
30 days |
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60 days |
Ö |
90 days |
|
|
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 |
: |
N/A |
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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 |
: |
China, Germany, Taiwan |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
SF Ahmed & Co, Chartered Accountants |
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Operation Status |
: |
Active |
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Member |
: |
Nil |
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CAPITAL
STRUCTURE
|
Authorized Capital |
: |
BDT 5000
Million |
|
||||||
|
Paid-up Capital |
: |
Tk. 23,
40,000,000 |
No. of
Shares |
: |
234000000 |
Share Value |
: |
Tk.10.0Each |
|
|
Main Assets |
: |
BDT
15,848,433,593 |
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FINANCIAL
STATEMENT- DETAILED
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Balance Sheet : |
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Currency |
: BDT |
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Denomination |
: 1 |
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Financial Year Ending |
: 31st March, 2015 |
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Income Statement : |
||
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Currency |
: BDT |
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|
Denomination |
: 1 |
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Financial Year Ending |
: 31st
March, 2015 |
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ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Orion Trading House Orion Infusion Limited Accom Aviation Limited Arab Contractors Limited East West Airlines Limited Jaflong Tea Company Limited Orion Power Company Limited Accom Engineering Co. Limited Bangladesh Aero Vision Limited Agrabad Accom Consortium Limited Green House Organis Firms Limited Interior Accom Consortium Limited Belhasa Accom & Associates Limited BON Consortium Power Company Limited Kohinoor Chemicals Company (BD) Limited Aviation Management Services (BD) Limited |
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Subsidiary |
: |
Orion Biocare Limited Orion Natural Care Ltd. |
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Associate |
: |
Orion Infrastructure Ltd. Dutch Bangla Power & Associates Ltd |
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Name of The Group |
: |
Orion Group |
BANKING
|
Bank Name
|
: |
HSBC Agrani Bank ltd. Sonali Bank Ltd. Bank Asia Ltd. Rupali Bank ltd. Brac Bank Ltd. Social Islami
bank Bangladesh Ltd. |
ADVERSE
DATA MONITORING
|
Dishonored Checks |
:
|
No Record Found |
|
Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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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 office which is situated at Orion House, 153-154 Tejgaon I/A,
Dhaka-1208, Bangladesh. It is situated at Industrial area which is a well decorated
modern office. |
GENERAL
COMMENTS
|
Subject is Bangladesh’s leading
Pharmaceuticals company engaged in Manufacturer & Marketing of General
Drugs. The company exports their products all over the world. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
-- |
|
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.