The document is a ratio analysis report on Beximco Pharmaceuticals Ltd, one of the largest pharmaceutical companies in Bangladesh. It provides an overview of the pharmaceutical industry in Bangladesh and Beximco Pharma. It discusses the objectives, methodology and limitations of the ratio analysis. The report covers theoretical concepts of ratio analysis including categories like liquidity, profitability, capital structure and formulas to calculate relevant ratios. Financial data for the years 2006-2010 is presented to analyze Beximco Pharma's cash position, liquidity, profitability and other ratios.
Financial Statement Analysis of Square Pharmaceuticals Company LimitedMohammad Istiaq Hasan
The report was prepared for the requirement of course 'F-206, Financial Management' under the academic supervision of the course instructor, Nausheen Rahman, Professor, Department of Finance, University of Dhaka. I along with my group members tried to cover all of the relevant topics of Financial Management in this report.
Financial Statement Analysis of Square Pharmaceuticals Company LimitedMohammad Istiaq Hasan
The report was prepared for the requirement of course 'F-206, Financial Management' under the academic supervision of the course instructor, Nausheen Rahman, Professor, Department of Finance, University of Dhaka. I along with my group members tried to cover all of the relevant topics of Financial Management in this report.
This is a basic report of BEXIMCO pharma industry. Only basic tools and topics of management were used to prepare this report. This report might help the students who are doing MGT 210 COURSE in North South University of BANGLADESH.
Topic: Assessing Asset Capitalization and Insurance Process of incepta Pharmaceutical Ltd.
Internship Report on Incepta Pharmaceutical Ltd.(Accounts & Finance Department)
Incepta Pharmaceuticals Ltd. is a leading private pharmaceutical company in Bangladesh
established in the year 1999. The company has a very big manufacturing facility located at
Savar, 35 kilometer away from the center of the capital city Dhaka. The company produces
various types of dosage forms which include tablets, capsules, oral liquids, ampoules, dry
powder vials; powder for suspension, nasal sprays etc. Since its inception, Incepta has been
launching new and innovative products in order to fulfill unmet demand of the medical
community. The focus was to bring more new technologically advanced molecules to this
country.
Introduction to one of best medicine company Glaxo-smith-kline commonly known as GSK. this presentation gives detail introduction about GSK functions and products. Also global strategies which company is using.
Strategic Management project on Johnson & Johnson Shobhita Dayal
This presentation talks about the complete framework of the strategic planning of the Johnson & Johnson company. All the topics of strategic management course is been covered, in this ppt starting from SWOT, Strategic Map, External Factor Analysis, and all other major strategic tools.
SQUARE Pharmaceuticals Ltd Wholly owned subsidiary entry mode Africa Country ...Shorab Hossain
SQUARE Pharmaceuticals Ltd. is the largest pharmaceuticals company in Bangladesh. The company was established in 1958 by Samson H. Chowdhury along with his three friends. At the beginning, the company was a private firm. In 1964 the company converted into a Private Limited Company. The company was converted into a public limited company in 1991 and listed with Dhaka Stock Exchange in 1995. It has been continuously in the 1st position among all national and multinational pharmaceuticals companies since 1985. According to their annual report (April 2014 – March 2015), the turnover of SQUARE Pharmaceuticals was BDT. 30.28 billion (US$ 385.22 million) with about 18.64% market share having a growth rate of about 25.36%.
SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. has extended its range of services towards the highway of global market. It pioneered exports of medicines from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products. Present export market covers 42 countries.
This is a basic report of BEXIMCO pharma industry. Only basic tools and topics of management were used to prepare this report. This report might help the students who are doing MGT 210 COURSE in North South University of BANGLADESH.
Topic: Assessing Asset Capitalization and Insurance Process of incepta Pharmaceutical Ltd.
Internship Report on Incepta Pharmaceutical Ltd.(Accounts & Finance Department)
Incepta Pharmaceuticals Ltd. is a leading private pharmaceutical company in Bangladesh
established in the year 1999. The company has a very big manufacturing facility located at
Savar, 35 kilometer away from the center of the capital city Dhaka. The company produces
various types of dosage forms which include tablets, capsules, oral liquids, ampoules, dry
powder vials; powder for suspension, nasal sprays etc. Since its inception, Incepta has been
launching new and innovative products in order to fulfill unmet demand of the medical
community. The focus was to bring more new technologically advanced molecules to this
country.
Introduction to one of best medicine company Glaxo-smith-kline commonly known as GSK. this presentation gives detail introduction about GSK functions and products. Also global strategies which company is using.
Strategic Management project on Johnson & Johnson Shobhita Dayal
This presentation talks about the complete framework of the strategic planning of the Johnson & Johnson company. All the topics of strategic management course is been covered, in this ppt starting from SWOT, Strategic Map, External Factor Analysis, and all other major strategic tools.
SQUARE Pharmaceuticals Ltd Wholly owned subsidiary entry mode Africa Country ...Shorab Hossain
SQUARE Pharmaceuticals Ltd. is the largest pharmaceuticals company in Bangladesh. The company was established in 1958 by Samson H. Chowdhury along with his three friends. At the beginning, the company was a private firm. In 1964 the company converted into a Private Limited Company. The company was converted into a public limited company in 1991 and listed with Dhaka Stock Exchange in 1995. It has been continuously in the 1st position among all national and multinational pharmaceuticals companies since 1985. According to their annual report (April 2014 – March 2015), the turnover of SQUARE Pharmaceuticals was BDT. 30.28 billion (US$ 385.22 million) with about 18.64% market share having a growth rate of about 25.36%.
SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. has extended its range of services towards the highway of global market. It pioneered exports of medicines from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products. Present export market covers 42 countries.
The Unethical Practices of the Pharmaceutical Industries in Bangladesh in the...Dr. Amarjeet Singh
This article highlights the unethical practices of pharmaceutical industries in Bangladesh in their drug promotion and its impacts. It is evident that pharmaceutical industry is one of the promising sectors in the industrial field of Bangladesh. Now, the pharmaceutical industries of Bangladesh are exporting their products to more than 100 countries in the world after meeting the local demand. This study also represents the growth and market share of pharmaceutical industries, total exports of last five years, unethical practices in promotion of pharmaceutical industries and impacts of unethical practices. To conduct the study both secondary and primary data have been used. The target population of this study was medical professional men including physicians of Phultala Thana in Khulna District. Finally the study provides some recommendations to overcome the situation. There are a lot of rooms for Bangladesh to develop in this sector. In this study, the unethical practices in promotion of pharmaceutical industries that can make obstacle in the sustainable growth of pharmaceutical business in Bangladesh are discussed meticulously.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
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Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
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Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
Analyzing every customer’s aims, objectives and purpose of research
Using advanced and latest tools and technique of research and analysis
Coordinating and including their own ideas and knowledge
Providing the desired inferences and results of the research
In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
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NATIONAL AWARD FOR BEST RESEARCH PROJECT (By Hon. President APJ Abdul Kalam)
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NOMINATED FOR BEST MSME AWARDS 2017
5 STAR RATING ON GOOGLE
We have PhD experts from reputed institutions/ organizations like Indian Institute of Technology (IIT), Indian Institute of Management (IIM) and many more apex education institutions in India. Our works are tailored and drafted as per your requirements and are totally unique.
From past years our core advisory members, research team assisted research scholars from various universities from all corners of world
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Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
Our Mission
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Vision
Writekraft endeavours to be the leading global research and publications company that will fulfil all research needs of our clients. We will achieve this vision through:
• Analyzing every customer’s aims, objectives and purpose of research
• Using advanced and latest tools and technique of research and analysis
• Coordinating and including their own ideas and knowledge
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In the past decade, we have successfully assisted students from various universities in India and globally. We at Writekraft Research & Publications LLP head office in Kanpur, India are most trusted and professional Research, Writing, Guidance and Publication Service Provider for PhD. Our services meet all your PhD Admissions, Thesis Preparation and Research Paper Publication needs with highest regards for the quality you prefer.
Writekraft Research and Publications LLP was initially formed, informally, in 2006 by a group of scholars to help fellow students. Gradually, with several dissertations, thesis and assignments receiving acclaim and a good grade, Writekraft was officially founded in 2011 . Since its establishment, Writekraft Research & Publications LLP is Guiding and Mentoring PhD Scholars.
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Similar to Ratio analysis of beximco pharmaceuticals ltd (20)
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
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Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
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6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. ASSIGNMENT ON
RATIO ANALYSIS OF BEXIMCO PHARMACEUTICALS LTD.
COURSE CODE
FIN 434
COURSE TITLE
FINANCIAL ANALYSIS AND CONTROL
SUBMITTED TO
NUSRAT JAHAN
ASSISTANT PROFESSOR
DEPT. OF BUSINESS ADMINISTRATION
STAMDFORD UNIVERSITY, BANGLADESH
SUBMITTED BY
SHAMIMA RAHMAN SHANTA - BBA03912729
SHAMMI AKTER - BBA03912565
FATEMA NUR - BBA03912566
KAZI FAHMIDA - BBA03912534
MAHAMUDA JAHAN CHOWDHURY -BBA 03912538
LAST DATE OF SUBMITSSION
30.11.2011
STAMFORD UNIVERSITY BANGLADESH
3. December 30, 2011
Ms. Nusrat Jahan
Assistant Professor
Department of Business Administration
Stamford University Bangladesh
Subject: Submission of report on “Ratio Analysis Of Beximco Pharmaceuticals Ltd”
Dear Mam,
With due respect, we would like to draw your kind attention to the fact that, we, the student of
BBA of Stamford University Bangladesh, was send Beximco Pharmaceuticals Ltd as the student
in View to gather practical knowledge about Pharmaceuticals Company.
Within those limited scope we learnt a very little about Pharmaceuticals sector of Bangladesh but
this little experience has to be expressed. So, we are shaping our experience and thoughts with a
report from the view point of our knowledge about Pharmaceuticals Company in Bangladesh.
Therefore, we pray and hope that you would be kind enough to accept our report and pass your
valuable commitment on it.
Sincerely yours,
Kazi Fahmida
Mahamuda Jahan Chowdhury
Shammi Akter
Fatema Nur
Shamima Rahman
4. TABLE OF CONTENT
Chapter 1 Introduction
Chapter 2 Overview Of BEXIMCO Pharmaceuticals
Ltd.
Chapter 3 Theoretical Overview Of Ratio Analysis
Chapter 4 Ratio Analysis
Chapter 5
Appendix
5. Chapter 1
Introduction
Background of report
This report is based on different financial ratios which are required to gather practical knowledge
and the theoretical knowledge and their differences for the completion of theoretical course of
Financial Analysis & Control of BBA program.
Objective of the report
There are mainly two objectives behind the preparation of this report. They are primary and
secondary objective.
Primary objective
The primary objective of preparing this report is to fulfill the practical requirement of Financial S
Analysis & Control course of BBA program and represent the “Ratio Analysis Of Beximco
Pharmaceuticals Ltd”.
Secondary objective
The secondary objective of the report is as below:-
To co-ordinate between theory and practice and to make a bridge between theoretical and
practical knowledge in fulfillment of financial market and institution course of BBA program.
To know about the financial performance of BEXIMCO Pharmaceuticals Ltd by analyzing
ratios.
To apply theoretical knowledge into practical area pharmaceuticals industries in Bangladesh.
6. Methodology of the report
Data sources:
Collections of facts (underdone facts) are generally treated as data. There are two types of data
Primary data
Secondary data
Sources of primary data –
Conducting personal interview method we collect the information.
Sources of secondary data-
Secondary data for this practical study was collected from the annual reports of Beximco
Pharmaceuticals Ltd which are collected from their website.
7. Limitation of the report
The time period for this study was short.
Preparing this report is really troublesome.
Collect of data was not smooth.
For the lack of our practical knowledge some short coming may be available in the paper.
8. EXECUTIVE SUMMERY
This report based on ratio analysis of Beximco Pharmaceuticals Ltd. This is one of the largest
pharmaceuticals company in Bangladesh in terms of its 20 branches all over the world. Here, the
Beximco Pharmaceuticals institutional sources of fund like various sales of their products, uses
of those funds on loans and their investment on many sectors and by issuing shares. The report
formatted with limited collected information and it arranged as a formal report financial
condition by analyzing various ratios like cash position, liquidity, capital structure, debt service
coverage, turnover, profitability, and working capital. Beximco pharmaceuticals Ltd is well
enough relating to the other pharmaceuticals company of the Bangladesh. So, by doing many
other works for state society Beximco Pharmaceuticals Ltd. Has emerged as the pioneer of
playing key role in the pharmaceuticals sector of Bangladesh.
Pharmaceutical Industry in Bangladesh
Following the Drug (Control) Ordinance of 1982, some of the local pharmaceutical
companies improved range and quality of their products considerably. The national
companies account for more than 65% of the pharmaceutical business in Bangladesh.
However, among the top 20 companies of Bangladesh 6 are multinationals. Almost all
the life saving imported products and new innovative molecules are channelled into and
marketed in Bangladesh through these companies. Multinational and large national
companies generally follow current good manufacturing practices (cGMP) including
rigorous quality control of their products. The Drug Act of 1940 and its rules formed the
basis of the country's drug legislation. USANi, ayurvedic, homeopathic and biochemic
medicines were exempted from control under the legislation. The pharmaceutical
industry was dominated by the foreign companies at that time. Even in the allopathic
market there were extemporaneous preparations dispensed from retail pharmacies.
The pharmaceutical industry, however, like all other sectors in Bangladesh, was much
neglected during Pakistan regime. Most multinational companies had their production
facilities in West Pakistan. With the emergence of Bangladesh in 1971, the country
9. inherited a poor base of pharmaceutical industry. For several years after liberation, the
government could not increase budgetary allocations for the health sector. Millions of
people had little access to essential life saving medicines. With the promulgation of the
Drug (Control) Ordinance of 1982 many medicinal products considered harmful, useless
or unnecessary got removed from the market allowing availability of essential drugs to
increase at all levels of the healthcare system. Increased competition helped maintain
prices of selected essential drugs at the minimum and affordable level.
In 2000, there were 210 licensed allopathic drug-manufacturing units in the country, out
of which only 173 were on active production; others were either closed down on their
own or suspended by the licensing authority for drugs due to non compliance to GMP or
drug laws. They manufactured about 5,600 brands of medicines in different dosage
forms. There were, however, 1,495 wholesale drug license holders and about 37,700
retail drug license holders in Bangladesh. Anti-infective is the largest therapeutic class of
locally produced medicinal products, distantly followed by antacids and anti-ulcer ants.
In Bangladesh Pharmaceutical sector is one of the most developed hi tech sector which is
contributing in the country's economy. After the promulgation of Drug Control Ordinance -
1982, the development of this sector was accelerated. The professional knowledge, thoughts and
innovative ideas of the pharmacists working in this sector are the key factors for these
developments. Due to recent development of this sector we are exporting medicines to global
market including European market. This sector is also providing 95% of the total medicine
requirement of the local market. Leading Pharmaceutical Companies are expanding their
business with the aim to expand export market. Recently few new industries have been
established with hi tech equipments and professionals which will enhance the strength of this
sector
10. List of Companies Selected Industry: Pharmaceuticals & Chemicals
ACI( ACI Limited. )
ACIFORMULA( ACI Formulations Limited )
ACTIVEFINE( Active Fine Chemicals Limited )
AMBEEPHA( Ambee Pharma )
BEACONPHAR( Beacon Pharmaceuticals Limited )
BXPHARMA( Beximco Pharma )
BXSYNTH( Beximco Synthetics )
GLAXOSMITH( Glaxo SmithKline )
IBNSINA( The Ibn Sina )
IMAMBUTTON( Imam Button )
KEYACOSMET( Keya Cosmetics )
11. KOHINOOR( Kohinoor Chemicals )
LIBRAINFU( Libra Infusions Limited )
MARICO( Marico Bangladesh Limited )
ORIONINFU( Orion Infusion Ltd. )
PHARMAID( Pharma Aids )
RECKITTBEN( Reckitt Benckiser(Bd.)Ltd. )
RENATA( Renata Ltd. )
SALVOCHEM( Salvo Chemical Industry Limited )
SQURPHARMA( Square Pharmaceuticals Ltd. )
Chapter 2
Overview of BEXIMCO Pharmaceuticals Ltd.
Beximco Pharmaceuticals Ltd. is a leading edge pharmaceutical company based in Dhaka,
Bangladesh and is acclaimed for its outstanding product quality, world-class manufacturing
facilities, product development capabilities and outstanding professional services. Beximco
Pharma is the pioneer in pharmaceutical export from Bangladesh and has received National
Export Trophy (Gold), the highest national accolade for export, for record three times.
Year of Establishment: 1976
Commercial Production: 1980
Status: Public Limited Company
Authorized Capital (Taka): 2,000 million
Paid-up Capital (Taka): 1,259.57 million
12. Number of Shareholders: Around 66,000
Business Lines:
Manufacturing and marketing of Pharmaceutical Finished Formulation Products, Large Volume
Parenterals, Small Volume Parenterals, Ophthalmic Preparations, Nebulizer Solutions and Active
Pharmaceutical Ingredients (APIs)
Overseas Offices & Associates:
Australia, Bhutan, Cambodia, Chile, Ghana, Hong Kong, Indonesia, Jordan, Kenya, Kuwait,
Malaysia, Myanmar, Nepal, Pakistan, Philippines, Saudi Arabia, Singapore, Sri Lanka, Vietnam
and Yemen
Stock Exchange Listings:
Dhaka Stock Exchange, Chittagong Stock Exchange and AIM of London Stock Exchange.
Number of Employees:
The company employs more than 2,500 people and is widely acclaimed for its skilled and
talented workforce. Its state-of-the art of manufacturing facilities have been certified by the
global regulatory bodies such as TGA (Australia), GCC (Gulf Council),
Beximco Group Mission
Each of our activities must benefit and add value to the common wealth of our society. We
firmly believe that, in the final analysis we are accountable to each of the constituents with
whom we interact, namely: our employees, our customers, our business associates, our fellow
citizens and our shareholders.
Today Beximco Pharma is building its presence across five continents and is the only
Bangladeshi company to market pharmaceutical products in the USA. The company has a
visible and growing presence in emerging markets, including Malaysia, Kenya,
Singapore, Myanmar, Sri Lanka, Nepal, Nigeria and the Philippines. Moreover, it has
received the National Export Trophy (Gold) on three separate occasions for its
outstanding contributions to the country’s pharmaceuticals export
13. Chapter 3
THEORITICAL OVERVIEW OF RATIO ANALYSIS
RATIO ANALYSIS
The most widely discussed cross-sectional technique is a comparison of ratios across firms.
Numerous individual ratios have been proposed in the literature. The following seven categories
and ratios within each category are meant to be illustrative rather than exhaustive. The seven
categories are-
1. Cash position
2. Liquidity
3. Working Capital
4. Capital structure
5. Debt service coverage
6. Profitability
7. Turnover
14. These categories described in below-
1. Cash position:
Cash and marketable securities form an important reservoir that the firm can use to meet its
operating expenditures and other cash obligation when and as they fall due. There are three ratios
that have been used when comparing the relative cash position of different firms include-
a)
Cash+marketable securities
current liabilities
b)
Cash+marketable securities
sales
c)
Cash+marketable securities
Total assets
Decision point: The higher each of these ratio, the higher the cash resources available to the
firm.
2. Liquidity:
Liquidity refers to the ability of a firm to meet its short-term financial obligation when and as
they fall due. The cash position ratios discussed capture one dimension of liquidity. Two
additional liquidity ratios that are frequently used are-
a) Quick ratio =
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑎𝑠𝑠𝑒𝑡−𝑖𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
b) Current ratio =
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑎𝑠𝑠𝑒𝑡
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑦
Decision point: The higher both the ratio, the higher the liquidity position of the firm.
3. Working Capital:
15. Increasing attention is being paid to the cash-generating ability of firms. While most firms do
not directly report cash flow information in their annual reports, inferences about cash flow can
be gained by adjusting the reported net income figure for the non cash items in its computation.
Financial ratio that incorporate these two concepts include-
a) Cash flow from operations
Sales
b) Cash flow from operations
Total assets
Decision Point: The higher each of these ratios, the larger the working capital /cash flow
generated by the firm in its operation.
4. Capital structure:
Capital structure ratios provide insight into the extent to which non equity capital is used to
finance the assets of the firm. Some representative ratios are-
a) Long term liabilities
Shareholders’ equity
b) Current liabilities + long term liabilities
Shareholders’ equity
Decision point: The higher each of these ratios, the higher the proportion of assets financed by
no shareholder parties.
5. Debt service coverage:
Debt service coverage refers to the ability of an entity to service from its operation
interest payments that are due to non equity suppliers of capital. Two ratios useful in making
inferences about coverage are-
a) Operating income
Annual interest payments
16. b) Cash flow from operations
Annual interest payments
Decision point: The higher these ratios, the greater the ability to service interest payment to
external parties.
6. Profitability:
Profitability refers to the ability of a firm to generate revenues in excess of expenses.
When making comparisons across firms, it is useful to control for differences in their resource
base. The following three ratios illustrate alternative ways of expressing relative profitability.
a)
Net Income
Revenue
The net income to revenue ratio indicates how much net income is earned from each
dollar of revenue.
b)
Net income
shareholders′equity
The net income to shareholders equity ratio measures the efficiency with which common
shareholders’ equity is being employees within the firm.
c)
Net Income
Total Asset
The net income to total assets ratio measures the efficiency with which total assets are
employed within the firm.
Decision point: The higher each of this ratios, the more profitable the firm in a relative sense.
7. Turnover:
17. Various aspects of the efficiency with which assets are utilized can be gleaned from
turnover ratios as well as from several of the previously examined ratios. One such ratios is the
total asset turnover ratio-
Asset turnover:
𝑠𝑎𝑙𝑒𝑠
𝑡𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑡
This ratio indicates how many times annual sales cover total assets.
Accounts Receivable Turn over
𝑠𝑎𝑙𝑒𝑠
𝑎𝑐𝑐𝑜𝑢𝑛𝑡𝑠 𝑟𝑒𝑐𝑒𝑖𝑣𝑎𝑏𝑙𝑒
As accounts receivable pertain only to credit sales, it is often recommended that the
numerator include only credit sales.
Inventory Turnover:
𝑐𝑜𝑠𝑡 𝑜𝑓 𝑔𝑜𝑜𝑑𝑠 𝑠𝑜𝑙𝑑
𝑖𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦
The magnitude of this ratio can be affected markedly by inventory valuation rules.
Chapter 4
RATIO ANALYSIS
Analysis of seven ratios and required financial data to calculate those ratios are given below-
1. CASH POSITION:
To calculate the cash position five years data of Cash, Marketable securities, Total Assets,
Current liabilities and sales are needed. In the below given that-
Year 2006 2007 2008 2009 2010
18. Cash 581098945 85698910 73647728 8433574 147144843
Marketable
securities
104097312 114507043 125957747 151149296 209806509
Total Assets 11912512487 11953418940 14812665441 19891933422 21372399509
Current
liabilities
2527420798 1627972936 2602032267 2321451642 2513157232
Sales 3702317159 3597024812 4010167059 4868254915 6490847353
Cash position of the Beximco pharmaceuticals ltd.
2006 2007 2008 2009 2010
Cash+marketable securities
current liabilities
0.271 0. 52 0.08 0.52 0.59
Cash+marketable securities
sales
0.185 0.06 0.05 0.25 0.23
Cash+marketable securities
Total assets
0.057 0.02 0.01 0.061 0.0698
1.a) Cash + Marketable securities /Current liabilities: This Cash positions ratio is 0.271in
2006 ; increased in 2007 to 0.52 ; decreased in 2008 to 0.08; again increased in 2009 to
0.52 and increased in 2010 to 0.59.
1.b) Cash + Marketable securities /Sales : This Cash positions ratio 0.185 in 2006 ;
decreased in 2007 to 0.06 ; decreased in 2008 to 0.05 ;a increased in 2009 0.25 and
decreased in 2010 to 0.23.
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
2006 2007 2008 2009 2010
(cash+marketable
securities)/(current liabilities)
(Cash+marketable
securities)/sales
(Cash+marketable
securities)/(toatal assets)
19. 1.c) Cash + Marketable securities /Total asset : This Cash positions ratio is 0.057 in 2006
; decreased in 2007 to 0.02 ; again decreased in 2009 to 0.01 ; in 2009 increased to
0.061 and increased is to 0.0698.
2. LIQUIDITY:
Five years of liquidity position of the Beximco pharmaceuticals ltd.
Year 2006 2007 2008 2009 2010
Current
liabilities
2527420798 1627972936 2602032267 2321451642 2513157232
Current
Assets
3357393266 2923775458 2891891654 6916737893 6191667831
Inventory 1754440288 1470152242 1505288093 1722953284 1983809444
Quick Ratio:
2006 2007 2008 2009 2010
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑎𝑠𝑠𝑒𝑡 − 𝑖𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 0.063 0.89 0.53 2.24 1.67
Current Ratio:
2006 2007 2008 2009 2010
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑎𝑠𝑠𝑒𝑡
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑦 1.33 1.80 1.11 2.98 2.46
20. 2.a) Quick Ratio: This ratio is 0.063 in 2006 ; increased in 2007 to 0.089; decreased in 2008 to
0.53; increased in 2009 to 2.24 and have decreased in 2010 to 1.67.
2.b) Current Ratio : This ratio is 1.33 in 2006 ; in 2007 increased to 1.80 ; in 2008 decreased to
1.11; in 2009 again increased to 2.98 and decreased to 2.46 in 2010.
3. CASH FLOW FROM OPERATION:
2006 2007 2008 2009 2010
Cash flow
from
Operation
1382804459 595354292 1166071983 842792622 2040045602
Sales 3702317159 3597024812 4010167059 4868254915 6490847353
Total Assets 11912512487 11953418940 14812665441 19891933422 21372399509
The five years cash flow from operation ratio of the Beximco are given in the below:
2006 2007 2008 2009 2010
𝑐𝑎𝑠ℎ𝑓𝑙𝑜𝑤 𝑓𝑟𝑜𝑚 𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑜𝑛
𝑆𝑎𝑙𝑒𝑠 0.0373 0.17 0.29 0.17 0.31
𝑐𝑎𝑠ℎ𝑓𝑙𝑜𝑤 𝑓𝑟𝑜𝑚 𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑜𝑛
𝑡𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑡 0.116 0.05 0.08 0.04 0.95
0
0.5
1
1.5
2
2.5
3
3.5
2006 2007 2008 2009 2010
(current asset-
inventory)/(current
liabilities)
(current asset)/(current
liability)
21. 3.a) Cash flow from operation / Sales: This ratio is 0.0373 in 2006 ; in 2007 increased to
0.17 ; in 2008 increased to 0.29 ; in 2009 decreased to 0.17 and in 2010 increased to
0.31.
3.b) Cash flow from operation / Total asset: This ratio is 0.116 in 2006; in 2007
decreased to 0.05; in 2008 increased to 0.08 ; in 2009 decreased to 0.04 and in 2010
increased to 0.95.
4. CAPITAL STRUCTURE:
2006 2007 2008 2009 2010
Long-term
Liabilities
1435171264 2074506357 1767431029 6684775166 2885155826
Shareholders'
equity
7949920425 7949920000 8250939647 10450202145 10885706614
Current
liabilities
2527420798 1627972936 2602032267 2321451642 2513157232
The ratio of the capital structure:
2006 2007 2008 2009 2010
𝐿𝑜𝑛𝑔 𝑡𝑒𝑟𝑚 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑒𝑦
𝑠ℎ𝑎𝑟𝑒ℎ𝑜𝑙𝑑𝑒𝑟𝑠′ 𝑒𝑞𝑢𝑖𝑡𝑦
0.180 0.26 0.21 0.63 3.41
𝑐𝑢𝑟𝑟𝑒𝑛𝑡 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑦 + 𝑙𝑜𝑛𝑔 𝑡𝑒𝑟𝑚 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑦
𝑠ℎ𝑎𝑟𝑒ℎ𝑜𝑙𝑑𝑒𝑟𝑠′ 𝑒𝑞𝑢𝑖𝑡𝑦
0.499 0.47 0.25 0.26 6.37
0
0.5
1
1.5
2
2.5
3
2006 2007 2008 2009 2010
(cashflow from
operation)/Sales
(cashflow from
operation)/(total asset)
22. 4.a) Long-term liability/ Shareholder’s equity: This ratio is 0.180 in 2006 ; in 2007 increased to
0.26 ; in 2008 decreased to 0.21; in 2009 increased to 0.63 and in 2010 a huge increase to 3.41
in 2010.This ratio balanced increase/decrease in first 4 years and a huge increased in 2010.
4.b) ) Current liability + long-term liability/ Shareholder’s equity: This ratio is 0.499in 2006; in
2007 decreased to 0.47 ; in 2008 decreased to 0.25; in 2009 increased to 0.26 and in 2010
increased to 6.37. This ratio also balanced increase/decrease in first 4 years and a huge
increased in 2010.
5. DEBT SETVICE COVERAGE:
2006 2007 2008 2009 2010
Annual
Interest
Payments
159719746 159478000 143658000 77899123 47391326
Cash flow
from
Operation
1382804459 595354292 1166071983 842792622 2040045602
Operating
Income
746523494 654778147 998794848 1001282411 1001282411
0
1
2
3
4
5
6
7
2006 2007 2008 2009 2010
(Long term
liabilitey)/(shareholders^'
equity)
(current liability+long term
liability)/(shareholders'
equity)
23. The ratio of the debt service coverage
2006 2007 2008 2009 2010
𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑖𝑛𝑐𝑜𝑚𝑒
𝑎𝑛𝑛𝑢𝑎𝑙 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑝𝑎𝑦𝑚𝑒𝑛𝑡
4.67 4.11 6.95 12.85 34.52
𝑐𝑎𝑠ℎ𝑓𝑙𝑜𝑤 𝑓𝑟𝑜𝑚 𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑜𝑛
𝑎𝑛𝑛𝑢𝑎𝑙 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑝𝑎𝑦𝑚𝑒𝑛𝑡
0.657 3.73 8.12 10.82 43.05
5.a) Operating income / Annual interest payment : This ratio is 4.67in 2006; in 2007 decreased
to 4.11 ; in 2008 increased to 6.95; in 2009 also increased to 12.85 in 2009 and a huge
increased to 34.52.
5. b) Cash flow operation / Annual interest payment : This ratio is increased 0.657 in 2006; in
2007 to 3.73; in 2008 increased to 8.12; in 2009 also increased to 10.82 and finally in 2010 a
enormous increased to 43.05.
6. PROFITABILTY:
2006 2007 2008 2009 2010
Inventory 1754440288 1470152242 1505288093 1722953284 1983809444
Net Income 470658563 353068000 545341000 624740000 105164900
Revenues 3702317159 3597024812 4010167059 4868254915 6160306406
0
10
20
30
40
50
2006 2007 2008 2009 2010
(operating income)/(annual
interest payment)
(cashflow from
operation)/(annual interest
payment)
24. Shareholders'
equity
7949920425 7949920000 8250939647 10450202145 10885706614
The ratio of profitability:
2006 2007 2008 2009 2010
𝑛𝑒𝑡 𝑖𝑛𝑐𝑜𝑚𝑒
𝑟𝑒𝑣𝑒𝑛𝑢𝑒𝑠 0.13 0.10 0.14 0.13 0.017
𝑛𝑒𝑡 𝑖𝑛𝑐𝑜𝑚𝑒
𝑠ℎ𝑎𝑟𝑒ℎ𝑜𝑙𝑑𝑒𝑟𝑠′ 𝑒𝑞𝑢𝑖𝑡𝑦
0.06 0.04 0.07 0.06 0.12
𝑛𝑒𝑡 𝑖𝑛𝑐𝑜𝑚𝑒
𝑖𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦
0.23 0.03 0.04 0.04 0.005
6. a) Net income/ Revenues :This ratio is 0.13 in 2006; in 2007 decreased to 0.10; in 2008
increased to 0.14; in 2009 decreased to 0.13 and lastly in 2010 decreased to 0.017.
6.b) Net income / Shareholder’s equity: This ratio is 0.06 in 2006; in 2007 decreased to 0.04 ;
in 2008 increased to 0.07; in 2009 decreased to 0.06 and in 2010 increased to 0.12.
6. c) Net income/ Inventory: This ratio is increased 0.23 in 2006; in 2007 decreased to 0.03; in
2008 decreased to 0.04; in 2009 remain same 0.04 and in 2010 decreased to 0.005.
7. TURNOVER:
2006 2006 2008 2009 2010
cost of Goods
Sold
3702317159 1967509975 2002871181 -2566206626 -3317640254
0
0.05
0.1
0.15
0.2
0.25
2006 2007 2008 2009 2010
(net income)/revenues
(net income)/(shareholders^'
equity)
(net income)/inventory
26. 7. a) Total Asset turnover: This ratio is 0.311 ; in 2007 decreased to 0.30; in 2008 decreased to
0.27; in 2009 decreased to 0.24 and in 2010 increased to 1.
7. b) Account receivable turnover: This ratio is 8.61 ; in 2007 decreased to 7.20; in 2008
increased to 7.96; in 2009 decreased to 7.01 and in 2010 increased to 7.9.
7.c) Inventory turnover: This ratio is 2.11 in 2006 ; in 2007 decreased to 0.40 ; in 2008
increased to 1.33; and decreased to (1.49) in 2009,decreased to (1.67) in 2010.
CONCLUSION:
-4
-2
0
2
4
6
8
10
2006 2007 2008 2009 2010
Total asset turnover
Account receivable turnover
Inventory turnover
27. To conclude,Beximco Pharmaceuticals Ltd. playing its leading role in socio-economic
development of the country. Since inception Beximco Pharmaceuticals has been
rendering its services with the needs of the nation to cope with the demands of people in
the country.In this report of Beximco Pharmaceuticals we calculated the seven ratios of
the company by analyzing the five years we found that one cash position ratio is higher
in the year 2009 which is 0.25, the other two is higher in 2010 which are 0.59 and
0.0698; in case of liquidity current ratio is higher in the year of 2009 is 2.98 between
two liquidity ratios; the higher cash flow of operation is 0.95 in 2010 between two ratios;
the higher capital structure is 6.37 in 2010 between capital structure’s two ratios; the debt
service coverage is 43.05 in 2010 between two debt coverage ratios; the higher
profitability is 0.23 in 2006 among three profitability ratios; the higher turnover of the
company is 8.61 in 2006 among three ratios. These are the overall financial position of
the Beximco Pharmaceuticals Ltd in terms of their ratio analysis of five years annual
financial statements. The Beximco Pharmaceuticals institutional sources of funds are sale
of their products, uses of those funds on loans and their investment on many sectors and
by issuing shares. So, by doing many other works for both society and economy Beximco
Pharmaceuticals Ltd. Has emerged as the pioneer of playing key role in the
pharmaceuticals sector of Bangladesh