MIRA INFORM REPORT
|
Report No. : |
338817 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEXIMCO PHARMACEUTICALS LIMITED |
|
|
|
|
Registered Office : |
19, Dhanmondi R/A, Road # 7, Dhaka 1205 |
|
|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
30.06.2015 (Un-Audited) |
|
|
|
|
Year of Incorporation : |
1976 |
|
|
|
|
Com. Reg. No.: |
C-4744 |
|
|
|
|
Legal Form : |
Public Listed Co |
|
|
|
|
Line of Business : |
Manufacturer, Distributor, Exporter and Importer of
pharmaceutical Finished Formulation Products, Large Volume Parenteral and
Active Pharmaceutical Ingredients (APIs) |
|
|
|
|
No. of Employees : |
2,897 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
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 |
|
|
|
|
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
IDENTIFICATION DETAILS
|
Correct company Name |
: |
Beximco
Pharmaceuticals Limited |
|
Operational Headquarters |
: |
19, Dhanmondi R/A, Road # 7, Dhaka 1205, Bangladesh. |
|
Tel No |
: |
880-2-58611001-7 |
|
Fax No |
: |
880-2-58613888, 58614601 |
|
E-mail |
: |
info@bpl.net |
|
Website |
: |
www.beximcopharma.com |
|
Date/ Year of Incorporation |
: |
1976 |
|
Incorporation
No. |
: |
C-4744 |
|
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 |
|
30/12/2014 |
BDT 5,322,272,000 (01/01/2014-30/06/2014) |
BDT 29,000,526,000 |
BDT 724,273,000 (01/01/2014-30/06/2014) |
|
30/06/2015 |
BDT 6,249,178,000 (01/01/2015-30/06/2015) |
BDT
30,098,658,000 |
BDT 1,009,159,000 (01/01/2015-30/06/2015) |
|
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 |
|
Information
Parted By
|
Name |
: |
Mr. Ali Nawaz |
|
Designation |
: |
Chief Financial Officer |
|
Contract
No |
: |
N/A |
Locations Details
|
Operating address |
: |
19, Dhanmondi R/A, Road # 7,
Dhaka 1205, Bangladesh. |
|
Tel No |
: |
880-2-58611001-7 |
|
E-mail |
: |
880-2-58613888, 58614601 |
|
Fax No |
: |
info@bpl.net |
|
Website |
: |
www.beximcopharma.com |
|
Location : |
: Owned |
Ö |
|
Rented |
|
|
Leased |
|
Area |
6500 |
Sq. ft. |
|
Type of Office : |
:
Commercial Office Bldg. |
Ö |
|
Semi-commercial office Bldg. |
|
|
|
|
Retail shop |
|
|
Industrial Park |
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|
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory(Unit-1): |
||
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Address |
: |
126 Kathaldia, Tongi, Gazipur, Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Factory(Unit-2): |
||
|
|
|
|
|
Address |
: |
Plot No. 1070/1083, Mouchak, Kaliakoir, Gazipur,
Bangladesh. |
|
Tel No |
: |
Nil |
|
Fax No |
: |
Nil |
|
Employee: |
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|||||||
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|||||||
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No. of
Employees |
In Office |
: |
400 |
In Factory |
: |
2497 |
||
|
In Branch: |
: |
- |
Total |
: |
2,897 |
|||
|
Details: |
|
|
|
|||||
OWNERSHIP/SHAREHOLDERS
|
Names of
Shareholders |
No. of Share |
|
A S F Rahman |
7,469,709 |
|
Salman F Rahman |
7,487,196 |
|
Associates and Other Directors |
33,414,339 |
|
Foreign Investors |
93,038,941 |
|
ICB & Other Investors Account |
55,940,961 |
|
General Public & Institutions |
329596354 |
DIRECTORS
|
Name |
Designation |
|
Ahmed Sohail Fasiur Rahman |
Chairman |
|
Ahmed Salman Fazlur Rahman |
Vice Chairman |
|
Nazmul Hassan MP |
Managing Director |
|
Iqbal Ahmed |
Director |
|
Osman Kaiser Chowdhury |
Director |
|
Abu Bakar Siddiqur Rahman |
Director |
|
Abdur Rahman Khan |
Independent Director |
MANAGEMENT
|
Name |
: |
Mr. Rabbur Reza |
|
Job Description |
: |
Chief Operating Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
Nil |
|
Other details |
: |
Nil |
|
|
|
|
|
Name |
: |
Ali Nawaz |
|
Job Description |
: |
Chief Financial Officer |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
Nil |
|
Other details |
: |
Nil |
|
Name |
: |
Afsar Uddin Ahmed |
|
Job Description |
: |
Director Commercial |
|
Nationality |
: |
Bangladeshi |
|
Email address |
: |
Nil |
|
Other details |
: |
Nil |
BUSINESS
OPERATIONS
|
Nature of
Activity : |
Manufacturer |
Ö |
Trader |
|
Dealer |
|
Distributor |
Ö |
|
|
|
|||||||
|
|
Exporter |
Ö |
Importer |
Ö |
Services |
|
Others |
|
|
Range of Products: |
||
|
|
||
|
Products |
: |
pharmaceutical Finished Formulation Products, Large Volume
Parenteral and Active Pharmaceutical Ingredients (APIs) |
|
Production Capacity |
: |
N/A |
|
Registered Production |
: |
400 |
Trading Terms:
|
Purchasing Terms: |
L/C |
Ö |
Cash |
|
Others |
|
|
|||
|
|
Credit : |
|
30 days |
|
60 days |
Ö |
90 days |
|
|
days |
|
Selling Terms : |
L/C |
|
Cash |
Ö |
Others |
|
|
|||
|
|
Credit : |
Ö |
30 days |
|
60 days |
|
90 days |
|
|
days |
DETAILED DATA
|
Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
Local Peoples |
|
|
Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
|||
|
Trade Markets |
: |
Exports |
: |
Srilanka, Kenai, Macau, Somalia, Nigeria, Belize, Vietnam |
||||
|
Imports |
: |
China, Malaysia, India, and Pakistan |
||||||
|
Brand Name |
: |
N/A |
||||||
|
Certified |
: |
N/A |
||||||
|
Auditors |
: |
M.J. Abedin & Co., Chartered Accountants |
||||||
|
Operation Status |
: |
Active |
||||||
|
Member |
: |
Bangladesh Aushad
Shilpa Samity |
||||||
CAPITAL STRUCTURE
|
Authorized Capital |
: |
BDT 9,100,000,000 |
||||||
|
Paid-up Capital |
: |
BDT 5269475000 |
No. of Shares |
: |
526947500 |
Share Value |
: |
BDT 10.00Each |
|
Main Assets |
: |
BDT 30,098,658,000 |
||||||
FINANCIAL STATEMENT- DETAILED
|
Balance Sheet : |
||
|
|
Currency |
: Tk. |
|
|
Denomination |
: 1 |
|
|
Financial Year Ending |
: 31st
December 2014 |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
|
Sister Concerns |
: |
Bextrade Ltd. Sonali Ansh Ltd. Bangladesh Online GMG Airlines Ltd. Essess Fashions Ltd. Beximco Media Ltd. Beximco Apparels Ltd. Beximco Fashions Ltd. Beximco Synthetics Ltd. Beximco Holdings Ltd. Beximco Securities Ltd. Beximco Computers Ltd. Beximco Petroleum Ltd. Pharmatek Chemicals Ltd. Beximco Engineering Ltd Shinepukur Ceramics Ltd. New Dacca Industries Limited Bangladesh Export Import Co Ltd. Bangladesh Antibiotics Industries Ltd. International Knitwear & Apparels Ltd. Crescent Fashion And Design Limited Beximco Property Development And Management Limited |
|
Subsidiary |
: |
N/A |
|
Name of
The Group |
: |
Beximco Group |
BANKING
|
Bank Name |
: |
Janata Bank Ltd. |
|
Bank Address |
: |
Local Office 1, Dilkusha Commercial Area, Dhaka-1000 PABX: 88-02-9556242-44, Fax: 88-02-9563639 Phone: 88-02-9553106, 9556241 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
: |
No Record
Found |
|
Debt |
: |
No Record
Found |
|
Litigation |
: |
Clear |
|
Performance
Defaults |
: |
No Record
Found |
|
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 17, Dhanmondi R/A, Road # 2, Dhaka 1205, Bangladesh. It is
situated at Residential area which is a well decorated modern office.
GENERAL COMMENTS
The subject company is a well-known reputed company in
Bangladesh. Their products popular to
the local customers. So day by day the
subject companies increase their goodwill.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
UK Pound |
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
VNT |
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.