MIRA INFORM REPORT

Report No. :	509245
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	ESSANTIAL DRUGS CO. LTD.
Registered Office :	Plot# 395-397, Tejgaon I/A, Dhaka-1208
Country :	Bangladesh
Financials (as on) :	30.06.2017 [Summarized]
Date of Incorporation :	10.08.1983
Com. Reg. No.:	C-10966
Legal Form :	Public (But Not Listed)
Line of Business :	Manufacturer, Distributor and Importer of All types of Pharmaceuticals Items.
No. of Employees :	3500

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Bangladesh	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

BANGLADESH - ECONOMIC OVERVIEW

Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

Source : CIA

IDENTIFICATION DETAILS
Correct company Name	:	ESSANTIAL DRUGS CO. LTD.
Head Office	:	Plot# 395-397, Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9130036, 9130489-90, 58151081, 58152038
Fax No	:	88-02-8119697
E-mail	:	edcl@bttb.net.bd
Website	:	www.edcl.gov.bd
Date/ Year of Incorporation	:	10.08.1983
Incorporation No.	:	C-10966
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^th June, 2016	BDT 4415.82 Million	BDT 4866.10 Million	BDT 371.46 Million
30^th June, 2017	BDT 4123 Million	BDT 4730.21 Million	BDT 280.53 Million

FULLCHECK REPORT DETAILS
Information Parted By
Name	:	Mr. Ratan Kumar Bhakta
Designation	:	General Manager & Company Secretary
Contract No	:	N/A

Locations Details
Operating Address	:	Plot # 395-397, Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9130036, 9130489-90, 58151081, 58152038
Fax No	:	88-02-8119697
E-mail	:	edcl@bttb.net.bd
Website	:	www.edcl.gov.bd

Location :

: Owned

Rented

Leased

Ö

Area

8500

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.
Retail shop		Industrial Park	Ö
Business Center		Home Office
Residential Bldg.

Factory-1:
Address	:	Plot # 395-397, Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A
Factory-2:
Address	:	Thanthania , Bogora 5800, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A
Factory-3:
Address	:	Gilatola Khulna-9202, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A
Factory-4:
Address	:	Modhupur, Tangil 1900 Bangladesh.
Tel No	:	N/A
Fax No	:	N/A
Factory-5:
Address	:	Ghonapara, Gopalgonj-8100, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A

Branch:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	380	In Factory	:	3120
	In Branch:	:	N/A	Total	:	3500

OWNERSHIP/SHAREHOLDERS
Names of Shareholders	No. of Share	Country
Dr. Jamaluddin Ahmed FCA	100	Bangladesh.
Prof. Dr. Md. Islam Khan	100	Bangladesh.
Secretary Ministry of Health & Family Welfate	100923950	Bangladesh.
Prof. Dr. Ehsanul Kabir	100	Bangladesh.
Mr. Mohammad Nasrim	100	Bangladesh.
Major General Md. Mustafizur Rahman	100	Bangladesh.
Professor Dr. Kamrul Hasan Khan	100	Bangladesh.
Mr. Mohammad Wahid Hossain	100	Bangladesh.
Md. Sirazul Islam	100	Bangladesh.
Professor Dr. Abul Kalam Azad	100	Bangladesh.

DIRECTORS
Name	:	Mr. Mohammad Nasrim
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Prof. Dr. Ehsanul Kabir
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Dr. Jamaluddin Ahmed FCA
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Prof. Dr. Md. Islam Khan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Mohammad Wahid Hossain
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Sirazul Islam
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Professor Dr. Abul Kalam Azad
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Major General Md. Mustafizur Rahman
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Professor Dr. Kamrul Hasan Khan
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT
Name	:	Prof. Dr. Ehsanul Kabir
Job Description	:	Managing Director & CEO
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A
Name	:	Mr. Md. Shafiqul Bari
Job Description	:	Manager Admin & HRM & Manager Store (CC)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Zakir Hossain
Job Description	:	Manager (Sales & Marketing)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. B. M Rashiduzzaman
Job Description	:	Manager (Engineering)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Nurur Rahman Patwary
Job Description	:	Manager (Production)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Riad Arafin
Job Description	:	Manager (Sales & Marketing)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Kh. Rashedul Haque
Job Description	:	Manager (Quality Assurance)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mir Md. Shahabuddin
Job Description	:	Manager (Engineering)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Mahbubul Alam
Job Description	:	General Manager (Engineer)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Quazi Mohammad Hossain
Job Description	:	General Manager (Production)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Mohammad Salim
Job Description	:	General Manager (Admin & HRM)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Syed Jahir Uddin Zamal
Job Description	:	General Manager (Procurement)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Ali Mukarram
Job Description	:	Dy. General Manager (Audit)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Abul Kashem Patwary
Job Description	:	Dy. General Manager (Sales, Marketing & Planning (CC)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Kazi Md. Didarul Alam
Job Description	:	Dy. General Manager (Quality Assurance)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Mizanur Rahman, ACMA
Job Description	:	Dy. General Manager (Accounts & Finance)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. B. M Emam Hasan
Job Description	:	Dy. General Manager
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Abdul Halim Khan
Job Description	:	Dy. General Manager (Production)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Md. Nazrul Islam
Job Description	:	Dy. General Manager (Production)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. A. Quaium Pathan
Job Description	:	Dy. General Manager (STORE)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Ratan Kumar Bhakta
Job Description	:	General Manager & Company Secretary
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS
Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor	Ö
	Exporter		Importer	Ö	Services	Others

Range of Products
Products	:	All types of Pharmaceuticals Items.
Production Capacity	:	N/A
Last Year Production	:	N/A

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			:	N/A
		Overseas Suppliers			:	N/A
		Local Suppliers			:	N/A
Trade Markets	:	Exports(Country)			:	N/A
		Imports(Country)			:	China, India, Pakistan, Germany, America.
Brand Name			:	N/A
Certified			:	N/A
Name of Auditors			:	Huda Vasi Chowdhury & CO. Chartered Accountant
Operation Status			:	Active

CAPITAL STRUCTURE
Authorized Capital	:	BDT 2000 Million
Paid-up Capital	:	BDT 1009248500
No. of Shares	:	100924850
Share Value	:	BDT100.00Each
Main Assets	:	BDT 4730.21 Million

FINANCIAL STATEMENT- DETAILED
Financial summary information has been given
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
Sister Concerns	:	Nil
Subsidiary	:	Nil
Name of The Group	:	Nil

BANKING
Bank Name	:	Shahjalal Islami Bank Limited
Bank Address	:	Kawran Bazar Branch T K Bhaban, 13, Kazi Nazrul Islam Avenue, Kawran Bazar, Dhaka-1215, Bangladesh. Tel: 88-02-9114044, 9122396, 914125 Fax: 88-02-9126604
Bank Name	:	Sonali Bank Limited
Bank Address	:	Tejgaon Industrial Area Branch Tejgaon, Dhaka-1208, Bangladesh.

Bank Name	:	Prime Bank Limited
Bank Address	:	Banani Branch House # 62, Block # E, Kemal Ataturk Avenue, Banani, Dhaka-1212, Bangladesh. Tel: 88-02-8815754, 9889868 Fax: 88-02-8853616
Bank Name	:	Agrani Bank Limited
Bank Address	:	Thana Road Branch 1585, Thana Road, Bogra-5800, Bangladesh. Tel: 88-051-66564, 65012 Fax: 88-051-65052
Bank Name	:	Sonali Bank Limited
Bank Address	:	Thana Road Branch Bogra, Bangladesh.

Bank Name	:	Janata Bank Limited
Bank Address	:	Khulna Cantonment Branch Jahanabad, Cantonment, Futola, Khulna-9205, Bangladesh. Tel: 88-041-785524

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 Plot # 395-397, Tejgaon I/A, Dhaka-1208, Bangladesh. It is situated at Industrial Area.

GENERAL COMMENTS

SC’s financial performance appears to be Strong Manufacturer, Importer & Distributors. As well as its financial condition, we recommend that Credit can proceed with favorable terms in Large amount.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.99
BDT	1	INR 0.79

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.