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Company Overview
Investment Negatives
Company Fundamentals
Market Cap (BDT mn)
Market weight
Free-float
Paid-up Capital (BDT mn)
3-month Average Turnover (BDT mn)
3-month Return
Current Price (BDT)
52-week price range (BDT)
Sector Forward P/E
Industry Overview
Pharmaceutical Industry in Bangladesh, currently valued at $1.7 billion,
is primarily produces generics drugs of around 8,000 different brands
which can furnish up to 98% of the domestic demand. At present, there
are 250 registered pharmaceutical manufacturers in Bangladesh out of
which 168 are operational. Yet, top three firms held 36.85% of total
market share Square Pharma (19.18%), Incepta (9.05%) and Beximco
Pharma (8.62%). The market share of the local companies is around 80
%.
2010
15,134.5
0.8%
86%
3,503.0
9.2
2.1%
44.7
39.5 - 66.3
17.4
2011
2012
2013
(Annualized)
6,491
7,890
9,289
10,160
Operating Profit
1,636
1,052
1,988
1,199
2,208
1,319
2,214
21,372
23,033
24,590
25,512
2,885
3,257
3,117
3,150
15,974
17,128
18,408
19,452
20%B
21%B
15%B
---
Gross Profit
48.9%
48.0%
47.3%
45.4%
Operating Profit
25.2%
25.2%
23.8%
21.8%
Pretax Profit
21.0%
21.3%
20.6%
20.1%
Net Profit
16.2%
15.2%
14.2%
14.2%
Sales
33.3%
21.6%
17.7%
9.4%
Gross Profit
37.8%
19.3%
15.9%
5.2%
Operating Profit
63.4%
21.6%
11.0%
0.3%
Investment Positives
Net Profit
68.3%
14.0%
10.1%
9.5%
Profitability:
ROA
5.1%
5.4%
5.5%
5.8%
ROE
7.8%
7.2%
7.4%
7.6%
Debt Ratio
18.2%
16.9%
14.9%
12.9%
Debt-Equity
24.4%
22.7%
19.9%
17.0%
2.5
3.5
3.4
3.8
14.9
13.1
11.9
10.8
Price/BV
1.0
0.9
0.9
0.8
EPS(BDT)
3.0
3.4
3.8
4.1
45.6
48.9
52.5
55.5
1,444
Margin:
Growth:
Leverage:
Int. Coverage
Valuation:
Price/Earnings
NAVPS (BDT)
Concluding Remark
Yaer 2009
Yaer 2010
Yaer 2011
Yaer 2012
Yaer 2013
(Annu.)
250
200
150
100
50
0
Jan-08
Jan-09
Jan-10
Jan-11
Jan-12
Jan-13
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