Renata eyes markets of 35 countries

FE Team | Published: June 30, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
Renata Ltd, a leading pharmaceutical company of the country, is expecting to register its products in 35 countries by the end of next year.
The countries that will be given importance are UK, Thailand, Malaysia, Singapore, Myanmar, Hong Kong, Sri Lanka, Pakistan, Syria and Kenya.
"We do not wish to make any predictions about earnings from overseas business but our main focus is to get registered and find good alliance partners in all these countries," Chairman of the company SH Kabir said in the latest annual report.
The company upon its success of Potent Product Facility (PPF), which was commissioned in 2006, is making forays into the areas of lyophilisation, cancer nutrition and taste-masking.
"As very few Bangladeshi companies are manufacturing potent products, Renata has been able to make significant inroads into the hormone and oncology markets through using the PPF," the annual report said.
The company's total sales and net profit rose by 19.8 per cent and 25.7 per cent respectively in 2006 against the previous year.
The report said the performance of the company would have been better, if there was no political turmoil during the last two months of 2006.
The sales turnover increased to Tk 1927.73 million from Tk 1608.55 million while the net profit grew to Tk 242.13 million from Tk 192.6 million in the year ended December 31, 2006 against the previous year.
Earnings per share (EPS) rose to Tk 301.41 from Tk 239.71.
The company's market ranking, according to IMS, improved to 8th from 11th in 2006 due to better business performance.
Renata held its 34th annual general meeting (AGM) June 16 and approved an unchanged cash dividend of Tk 50 per share and one bonus share for every five shares held by shareholders.
The company will disburse a total of Tk 40.16 million against the payment of cash dividend while an amount of Tk 16.06 million will be transferred to share capital account because of adjustment of bonus shares.
Renata paid a total of Tk 410 million to the national exchequer in the form of corporate income tax, dividend distribution tax, import duties and value added tax in 2006.
Renata, a listed company, produces and sells various pharmaceutical, animal health, animal nutritional, oral saline and other medical products.
The institutional shareholders of the company are Sajida Foundation (51 per cent), Business Research International Ltd Corp Ltd (25.33 per cent), ICB Unit Fund (4.66 per cent), ICB (3.97 per cent), First ICB Mutual Fund (1.82 per cent), Sadharan Bima Corporation (4.38 per cent) and other local investors (8.84 per cent).
The company got listed on the Dhaka Stock Exchange in 1979 and the company's closing share price was Tk 3857 per share Thursday on the bourse.
As part of Corporate Social Responsibility (CSR), the company contributed in the road island beautification project stretching from city's Farmgate to the Chief Adviser's Office in 2006. Metropolitan Chamber of Commerce and Industry (MCCI) is the main sponsor in the programme.