Square Pharma's export rises 59 per cent
Monday, 14 September 2009
FE Report
The country's largest drug manufacturer Square Pharmaceuticals Ltd. has registered a whopping 58.28 per cent rise in its export in the year ended March 31,2009.
"Our exports amounted to Tk 336.34 million during the year as against Tk 212.50 million in the corresponding period of 2008," according to the company's latest annual report.
Of the total export value, Tk 331.84 million came from pharmaceutical products while Tk 4.49 million was fetched by agrovet products
The report said the exports are expected to rise in the coming years.
The company's present export market covers Myanmar, Nepal, Kenya, Libya, Mauritius, Papua New Guinea, Somalia, Sri Lanka, Vietnam, Yemen, Ukraine, Bhutan, Cambodia, Mozambique, Afganistan, Tanzania, Costa Rica, North Korea, Belize, Hong Kong, Mouritania and Philippines.
"As the company has secured licence under UK MHRA, it is expected that the export potential will increase substantially in the near future," the report added.
At the same time, the conglomerate's gross turnover, net turnover, gross profit and net profit after tax showed 18.51 per cent, 18.93 per cent, 21.94 per cent and 36.78 per cent rises respectively against the previous year.
The company's gross turnover, net turnover, gross profit and net profit after tax rose to Tk 11.33 billion, Tk 9.82 billion, Tk 4.14 billion and Tk 1.89 billion respectively.
The company's number of shareholders grew 49.13 per cent in 2008-09 against 2007-08.
There were 47,258 shareholders in the year ended March 31,2009.
The company in its last annual general meeting on September 7 last approved cash dividend at 40 per cent and stock dividend at 25 per cent for the shareholders.
During the year 2008-2009, Square Pharma has contributed Tk 2.31 billion to the national exchequer as against Tk. 1.87 billion during the previous year. "The contribution constitutes 23.62 percent of the sales revenue in as against 22.67 percent in the previous year," the report said.
Established in 1958 and converted into a public limited company in 1991, Square Pharmaceuticals Ltd. has turned itself into a leading figure in the pharmaceutical industry of Bangladesh over the last few decades and now aims to grow into a high performance global player.
The company went public in 1994 and got listed in 1995 on Dhaka Stock Exchange (DSE).
With a paid-up capital of Tk 1.20 billion, Square Pharma has four each subsidiary and associate companies.
The subsidiary companies are Square Spinnings Ltd, Square Cephalosporins Ltd, Square Biotechs Ltd and Square Multi Fabrics Ltd. On the other hand, the associate companies are Square Textiles Ltd, Square Knit Fabrics Ltd, Square Fashions Ltd and Square Hospitals Ltd.
The country's largest drug manufacturer Square Pharmaceuticals Ltd. has registered a whopping 58.28 per cent rise in its export in the year ended March 31,2009.
"Our exports amounted to Tk 336.34 million during the year as against Tk 212.50 million in the corresponding period of 2008," according to the company's latest annual report.
Of the total export value, Tk 331.84 million came from pharmaceutical products while Tk 4.49 million was fetched by agrovet products
The report said the exports are expected to rise in the coming years.
The company's present export market covers Myanmar, Nepal, Kenya, Libya, Mauritius, Papua New Guinea, Somalia, Sri Lanka, Vietnam, Yemen, Ukraine, Bhutan, Cambodia, Mozambique, Afganistan, Tanzania, Costa Rica, North Korea, Belize, Hong Kong, Mouritania and Philippines.
"As the company has secured licence under UK MHRA, it is expected that the export potential will increase substantially in the near future," the report added.
At the same time, the conglomerate's gross turnover, net turnover, gross profit and net profit after tax showed 18.51 per cent, 18.93 per cent, 21.94 per cent and 36.78 per cent rises respectively against the previous year.
The company's gross turnover, net turnover, gross profit and net profit after tax rose to Tk 11.33 billion, Tk 9.82 billion, Tk 4.14 billion and Tk 1.89 billion respectively.
The company's number of shareholders grew 49.13 per cent in 2008-09 against 2007-08.
There were 47,258 shareholders in the year ended March 31,2009.
The company in its last annual general meeting on September 7 last approved cash dividend at 40 per cent and stock dividend at 25 per cent for the shareholders.
During the year 2008-2009, Square Pharma has contributed Tk 2.31 billion to the national exchequer as against Tk. 1.87 billion during the previous year. "The contribution constitutes 23.62 percent of the sales revenue in as against 22.67 percent in the previous year," the report said.
Established in 1958 and converted into a public limited company in 1991, Square Pharmaceuticals Ltd. has turned itself into a leading figure in the pharmaceutical industry of Bangladesh over the last few decades and now aims to grow into a high performance global player.
The company went public in 1994 and got listed in 1995 on Dhaka Stock Exchange (DSE).
With a paid-up capital of Tk 1.20 billion, Square Pharma has four each subsidiary and associate companies.
The subsidiary companies are Square Spinnings Ltd, Square Cephalosporins Ltd, Square Biotechs Ltd and Square Multi Fabrics Ltd. On the other hand, the associate companies are Square Textiles Ltd, Square Knit Fabrics Ltd, Square Fashions Ltd and Square Hospitals Ltd.