Welcome to Beximco Pharmaceuticals Ltd.

Beximco Pharmaceuticals Ltd (BPL) is a leading manufacturer of pharmaceutical

formulations and Active Pharmaceutical Ingredients (APIs) in Bangladesh. The company
is the largest exporter of pharmaceuticals in the country and its state-of-the-art
manufacturing facilities are certified by global regulatory bodies of Australia, Gulf
nations, Brazil, among others. The company is consistently building upon its portfolio
and currently producing more than 400 products in different dosage forms covering
broader therapeutic categories which include antibiotics, antihypertensives, antidiabetics,
antireretrovirals, anti asthma inhalers etc, among many others.

With decades of contract manufacturing experience with global MNCs, skilled manpower
and proven formulation capabilities, the company has been building a visible and
growing presence across the continents offering high quality generics at the most
affordable cost.

Ensuring access to quality medicines is the powerful aspiration that motivates more than
3000 employees of the organization, and each of them is guided by the same moral and
social responsibilities the company values most.

Strength:

Diversification
The strength of Beximco Pharmaceuticals Ltd. lies in its diversified products and dosage
forms.BPL has been producing solid products like tablets and capsules and liquid
products like syrup, suspension and solution, as well as semisolid products like cream
and ointment. It is the pioneer company to manufacture and market nasal sprays,
inhalation aerosols and suppositories in Bangladesh. In 2001, Beximco Pharmaceuticals
Ltd. stepped into a new path--bringing SmallVolume Parenteral(SVP) or injectable
dosage form. Arixon is it’s first small volume injectable product It is a preparation of
Ceftriaxone, which is considered as a breakthrough antibiotic in the history of medicine, .
In 2002, Arixon is predicted to be one of our leading brands interms of sales revenue. The
company has lot of diversified products like, Napa: Neoceptin R: Neofloxin: Tycil :
Aristovit M etc.

Achivement of National Export Trophy

First export market operation with finished pharmaceutical products1994-95 :
Achievement of National Export Trophy (Gold) as the first pharmaceutical company of
the country.

R & D
B P L is a company that is continuously searching for the next treatment advancements.
BPL’s portfolio features a range of high-quality, effective products. This product
portfolio, combined with the steady stream of promising new products in development, is
one of the many reasons BPL is among the nation's leading pharmaceutical
companies.We have introduced 26 new products in 2001. Around 70 new products are in
our development pipeline. They will obviously enrich our portfolio toeloypment of the
employees so that they can cope with the rapidly changing business
environment. Innovation is a major priority that we want to promote. Accordingly,
training programs are regularly undertaken for the staff to seek opportunities for skills
improvement.

Weakness:

Opportunities:

BPL always tried to add new products of different therapeutic classes in its portfolio and
these products are highly appreciated by the health professionals. Most important of them
are Triocim, Arixon, Prosan, Recox, Atova etc.Introduction of these new products
enriched it’s product portfolio and is contributing to enhance it’s sales.Apart from all
these, we have intensifiedand consolidated our marketing efforts inother overseas
markets, like Myanmar,Kenya,Yemen and Vietnam. To capitalizeimmense opportunities
in these overseasmarkets, we are bringing in more new andexciting brands in these
markets. Last year,BPLdonated one ‘Medical InformationK i o s k ’ to the Myanmar
MedicalAssociation ofMandalay which gainedenormous attention and acceptance in
theminds of the medical community ofM y a n m a r. In Kenya, number of salespeople
has been increased to best exploititshuge market potentials. All these effortsare already
bringing in desired results.Entering into new horizons andestablishing new overseas
markets willremain our top most priority in 2002 also.Russia, Ukraine, Sri Lanka,
Cambodia,Nepal will be on the list. We are confidentthat ourprocess of globalization
willcontinue with a more and moreaccelerated speed in the coming days.

Technology
Keeping pace with the advanced world
Technology carries the promise of tomorrow. The benefits of technology belong to all of
usbenefits that create new opportunities and open doors toa better life. For example, the
new inhaler plant of BPL has been designedin a way to ensure highest-possible quality at
every stage of manufacturingand quality control. World-class facilities are being
employed in each and every step including mixing, filling, testing, labelling, batch
printing andother procedures to ensure manufacturing of world class products.

Threats:

BPL has a commitment to the society to supply world class Active Pharmaceutical
Ingredients (APIs). Therefore, BPL is not only engaged in formulations but also in fine
chemicals business with a view to supplying cost effective quality materials to other local
companies as well as for captive consumption.

Beximco Pharmaceuticals Ltd. has been preparing itself for the post-WTO open market
competition. It has all the courage to compete with world leaders in pharmaceuticals
business when the tariff and non-tariff barriers will be withdrawn The new USFDA
standard plant is planned to be operational in early 2003. Once completed, this will be
one of the finest facilities to be available anywhere in the globe.

Liquidity Ratios:

Year 2000 2001 2002 2003 2004

Inventory
Turnover 0.3393 0.3511 2.2529 1.9094 1.7226
Days sales
Outstanding 279.1104 299.1648 64.1867 82.3708 89.9030
Fixed Asset
turnover 0.1114 0.0878 0.5248 0.3676 0.3946
Total Asset
turnover 0.0736 0.0631 0.3709 0.2720 0.2806

Inventory Turnover: Inventory turnover measure how many times the inventory has been
turned over (sold) during the year; provides insight into liquid of inventory and tendency
to overstock. It increased from 2000 to 2001. But from 2002 it has declining trend.

Days sales outstanding: It slightly increase from 2000 to 2001, after that it decrease
which indicates satisfactory condition.

Debt Management:

Debt to total asset: It shows the extent to which the firm is using borrowed money. Here
the ratio is increasing year by year.

Time interest earned ratio: A coverage ratio computed by dividing earnings before
interest and tax (EBIT) by interest charges; measures the ability of the firm to meet its
annual interest payment. From year 2003 to 2004 the ratio increases.

Profitability ratios:

Profit margin on sales: Measures profitability with respect to sales generated; net income
per taka of sales. Net profit margin on sales shows a decreasing trend.

Risk Analysis of Beximco Pharmaceuticals

Business Risk Analysis:
Business risk related to the inability of the firm to hold its competitive position and
maintain stability and growth in earnings. Here earning variability is low that is less risky
but sales variability is high that is highly risk.

Financial Risk Analysis:

The uncertainty of future incomes due to the company’s financing.

Debt to total Capital: Debt to total capital ratio increase upto year 2003 after that it
decreases.

Time interest earned ratio: A coverage ratio computed by dividing earnings before
interest and tax (EBIT) by interest charges; measures the ability of the firm to meet its
annual interest payment. From year 2003 to 2004 the ratio increases.

Glaxo Smithkline Bangladesh - Ratio Analysis

© 2001 ~ 2011 GlaxoSmithKline, Bangladesh - all rights reserved.

Corporate Office: House 2A, Road 138, Gulshan 1, Dhaka 1212, Bangladesh
Registered Office: Fouzderhat Industrial Area, Dhaka Trunk Road, G.P.O. Box 53,
Chittagong 4217, Bangladesh

Our company

GlaxoSmithKline(GSK) Bangladesh Limited carries with it an enviable image and

reputation for the past 6 decades. A subsidiary of GlaxoSmithKline plc- one of the
world's leading research-based pharmaceutical and healthcare companies GSK
Bangladesh, continues to be committed to improving the quality of human life by
enabling people to do more, feel better and live longer. The Company’s principle
activities include secondary manufacture of pharmaceutical products and marketing of
vaccines, pharmaceutical healthcare products and healthfood drinks.

GSK Bangladesh- A Flashback

1948- Glaxo Laboratories (Pakistan) Limited was incorporated having its registered
office in Karachi. Initially it was a wholly owned subsidiary of Glaxo Group Limited

1949- First branch in East Pakistan was opened at Dewanhat, Chittagong

1953- Public offer of shares were made at the request of the Govt. As a result Glaxo
Group’s Shareholding ratio reduced to 70%

Our products
GSK Bangladesh’s portfolio includes both pharmaceutical products and Consumer
products.

• Our Mission
The GlaxoSmithKline Mission

Our mission statement explains why we are in business

"Our global quest is to improve the quality of human life by enabling people to do
more, feel better and live longer"

The GlaxoSmithKline Spirit

Our company spirit describes how we need to behave if we are to achieve our goal

"We undertake our quest with the enthusiasm of entrepreneurs, excited by the constant
search for innovation. We value performance achieved with integrity. We will attain
success as a world class leader with each and every one of our people contributing with
passion and an unmatched sense of urgency."

Company profile at a glance:

Share Capital in BDT* (mn): 120.0

Market Cap in BDT *(mn) : 1812.9906

Total Share : 12046449

Business Segment : Pharmaceuticals & Chemicals

Ratio Analysis:

Liquidity Ratios:

Year 2002 2003 2004

Current Ratio 3.348 2.259 4.556
Quick Ratio 0.185 0.998 1.920

Current Ratio: Current ratio measures the ability to meet current debt with current asset.
Current ratio has decrease in 2003 but in 2004 it increase.

Quick Ratio: Quick ratio measures the ability to meet current debt with most liquid
current asset. Quick ratio has increased from 2002 to 2004.
Asset management ratio:

Year 2002 2003 2004

Inventory Turnover 1.621 0.508 0.503
Total Asset turnover 1.095 1.168 1.153

Inventory Turnover: Inventory turnover measure how many times the inventory has been
turned over (sold) during the year; provides insight into liquid of inventory and tendency
to overstock. It decreased from 2002 to 2004.

Debt Management:

Debt to total asset: It shows the extent to which the firm is using borrowed money. Here
the ratio is decreasing from 2003 to 2004.

Year 2002 2003 2004

Debt to Total Asset 0.3026 0.4083 0.2416

Time interest earned ratio:

TIE= EBIT / Interest

It has no interest bearing debt.

Business Risk Analysis:
Business risk related to the inability of the firm to hold its competitive position and
maintain stability and growth in earnings. . Here earning variability is high that is high
risky but sales variability is low that is low risk.

Incepta Pharmaceuticals Limited is a pharmaceutical company based in Dhaka,

Bangladesh, which manufactures and markets medicinal drugs in a variety of therapeutic
classes.
Incepta Pharmaceuticals Limited

Ltd
Founded 1999
Headquarters Shantinagar, Dhaka, Bangladesh
Key people Managing Director: Abdul Muktadir
Industry Pharmaceutical
Website http://www.inceptapharma.com/index.php

Incepta Company Overview

Incepta Pharmaceuticals was established in 1999 and produced its first product,
ranitidine, in December of that year. The company's manufacturing facility is located 35
miles from Dhaka in Savar, where they produce various types of drug dosage forms such
as tablets, capsules, oral liquids, injectables, and nasal sprays. The company’s specialties
include sustained-release tablets, quick-dissolving oral tablets, and barrier-coated
delayed-release tablets. Incepta also conducts research and development on advanced
dosage forms for various drugs and devices including poorly-soluble drugs, dry powder
inhalers, coated pellets, modified-release products, and taste-masked preparations.

The company sells its products in Bangladesh and plans to begin exporting to both
developed and developing countries around the world.

Incepta Pharmaceuticals
Incepta Pharmaceuticals Ltd. is a leading 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.

Head Office
40 Shahid Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208. Bangladesh.
Phone: +880-2-8891688-703
Fax: +880-2-8891190

Factory
Dewan Idris Road, Jirabo, Savar, Dhaka. Bangladesh.
Phone: +880-2-7792502-6
Fax: +880-2-7792507

ACI Bangladesh

ACI was established as the subsidiary of Imperial Chemical Industries (ICI) in the then
East Pakistan in 1968. After independence the company has been incorporated in
Bangladesh on the 24th of January 1973 as ICI Bangladesh Manufacturers Limited and
also as Public Limited Company. This Company also obtained listing with Dhaka Stock
Exchange on 28 December, 1976 and its first trading of shares took place on 9 March,
1994. Later on 5 May, 1992, ICI plc divested 70% of its shareholding to local
management. Subsequently the company was registered in the name of Advanced
Chemical Industries Limited. Listing with Chittagong Stock Exchange was made on 22
October 1995.
Advanced Chemical Industries (ACI) Limited is one of the leading conglomerates in
Bangladesh, with a multinational heritage. The company has diversified into three major
businesses.

ICI Plc of UK had a pharmaceutical business in Bangladesh. In 1992 the business was
divested to management and the name of the Company changed to Advanced Chemical
Industries (ACI) Limited.

Our Mission ACI’s mission is to enrich the quality of life of people through responsible
application of knowledge, skills and technology. ACI is committed to the pursuit of
excellence through world-class products, innovative processes and empowered
employees to provide the highest level of satisfaction to its customers.

Our Vision

To realize the mission ACI will:

• Endeavor to attain a position of leadership in each category of its businesses.

• Attain a high level of productivity in all its operations through effective and
efficient use of resources, adoption of appropriate technology and alignment with
our core competencies.
• Develop its employees by encouraging empowerment and rewarding innovation.
• Promote an environment for learning and personal growth of its employees.
• Provide products and services of high and consistent quality, ensuring value for
money to its customers.
• Encourage and assist in the qualitative improvement of the services of its
suppliers and distributors.
• Establish harmonious relationship with the community and promote greater
environmental responsibility within its sphere of influence.

Our Values

• Quality
• Customer Focus
• Fairness
• Transparency
• Continuous Improvement
• Innovation

ACI inherited the rich ICI culture of product quality, customer service and social
responsibility and continues to nurture.
Share Capital in BDT* (mn): 162.0
Market Cap in BDT *(mn) : 1149.6869

Total Share : 16170000

Business Segment : Pharmaceuticals & Chemicals

Address : ACI Centre, 245 Tejgaon I/A, Dhaka - 1208

Contact Phone: 9885694

SWOT Analysis

Strengths
•ACI has been able maintain its growth above the market growth
•Market category of ACI is A.
•ACI is the first company in Bangladesh to obtain certification of Quality Management
System in 1995.

Weaknesses
•ROE is decreased in 2004 than the previous year.

Opportunities
•High potentiality in export sector
•Bargaining power of suppliers and buyers is low

Threats
• The industry is highly competitive
• Export may be reduced if world economy is affected
Ratio Analysis

Liquidity Ratio 2000 2001 2002 2003 2004

Current Ratio 1.5 1.3 1.2 1.2 1.2
Quick Ratio 0.5 0.6 0.5 0.5 0.5

Asset Mgt Ratio 2000 2001 2002 2003 2004

Inventory Turnover 2.2 2.5 2.7 2.3 2.4
Debtors Turnover 20 24 23 16 12
Working Capital Turnover 6 7.9 10.7 10.4 14.1
Fixed Asset Turnover 6.5 7.7 8.8 7.3 3.8

Profitability Ratio 2000 2001 2002 2003 2004

ROE 12.40% 16.80% 18.50% 12.70% 10.40%

Risk Analysis:
Sales Variability:

SD of Sales 460455435
Mean of Sales 1979655245
CV .23259

2000 2001 2002 2003 2004

EPS 4 5.7 6.8 5.3 5.5

Earnings Variability:

SD of Sales 16154110.2
Mean of Sales 87896666.8
CV .18378524

2000 2001 2002 2003 2004

Price Earning Ratio 12.7 9.8 8 12.6 17

From the above analysis, we have found that both the liquidity ratios – current and quick
ratios were decreased in 2004. But the asset management ratios are favorable for the
company. Again, the ROE declined in 2004 than the previous year. Sales and earning
variability is low. So, the risk is minimum. Again, EPS and P/E were increased in the
year of 2004 than the previous year. So, we have chosen ACI limited to construct our
portfolio.

About Us
Offline

Brand Profile

Brand Name : star ship

Product : Condensed Milk.

Company Name : Abul Khair Condensed Milk & Beverage Industries Ltd. (Sister
concern of Abul Khair Group)
Product Category : Pasteurized Sweetened Condensed Milk.
Usage : Tea, Coffee, Cocoa, Milk Puddings, Desserts & other cooking & baking.
Brand Personality : Economy, Pure & Hygienic, impressive and familiar.
Physique : Attractive brand Logo, Food grade tin can, Protective, ISO & HACCP
certified.
Culture : Corporate Image, Distribution net. Retail coverage, Heritage.
Self image : Lucrative, profit oriented, company image, Influential.

Reflection : Feel fresh, satisfactory, Delight.

Target market : Mainly commercial user as well as Family consumer.

Brand position : Upper Mid level to the mind of consumer.

Product range : 397gm.

Packing : Unit pack & Master bag.

Brand Launch : 25 December 1995.

Coverage : Nation wide & also exporting.

Mission : To create brand demand, image and customer confidence by

ensuring quality, availability and rich communication with ultimate consumer.

Fruit Juice and Milk

Starship Chocolate Milk

Company: Abul Khair Condensed & Beverage
Ingredients: Recombined Milk, Cocoa Powder, Refined Sugar, Stabilizer, Vitamins.
Size: 250 ML, 200 ML, 125 ML

Starship Mango Milk

Company: Abul Khair Condensed & Beverage
Ingredients: Recombined Milk, Refined Sugar, Stabilizer, Vitamins.
Size: 250 ML, 200 ML, 125 ML

Starship Mango Juice

Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), Natural Mango Pulm, Citric Acid,
Refined Sugar and Vitamin- C.
Size: 250 ML, 200 ML, 125 ML
Starship Pineapple Juice
Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), Natural Pineapple Concentrate,
Refined Sugar, Pineapple Falvour, Critic Acid and Vitamin-C.
Size: 250 ML, 200 ML, 125 ML

Starship Orange Juice

Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), Natural Orange Concentrate,
Refined Sugar, Critic Acid and Vitamin-C.
Size: 250 ML, 200 ML, 125 ML

Fruit Drinks

Shaad Mango Drink

Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), Mango Concentrate, Sugar and
Vitamin- C
Size: 180 ML

Shaad Orange Drink

Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), OrangeConcentrate, Sugar and
Vitamin- C
Size: 180 ML

Shaad Pineapple Drink

Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), Pineapple Concentrate, Citric Acid,
Sugar and Vitamin- C.
Size: 180 ML

Shaad Lichi Drink

Company: Abul Khair Condensed & Beverage
Ingredients: Super purified water UV (Ultra Violet), Lichi Concentrate, Sugar and
Vitamin- C
Size: 180 ML
------------------------------------------------------------
TEA

Company: Abul Khair tea Ltd.

Packing: Foil Pack
Quality: SQT, BOP, GBOP
Pack Size: 10 GM, 50GM, 100 GM, 200 GM, 400 GM, 500 GM
Product Features: Best tea leaves collected from the best tea gardens.

Snacks

Shaad Chanachur
Company: Abul Khair Consumer Products Ltd.
Ingredients: Chicpea Flour, gren Beans, Lentils, Split Chikpeas, Rice Flakes, Vegetable
Oil, Spices, Salt, Citric Acid & Red Chilli Powder.
Size: 400 GM, 200 GM, 100 GM, 50 GM

Shaad Badam Bhaja

Company: Abul Khair Condensed & Beverage
Ingredients: Peanut, Edible Oil, Powdered Pulse, Salt and Spices.
Size: 40 GM

Company Profile

Basic Information

Company Name: Abul Khair Group

Business Type: Manufacturer
Product/Service
Condensed milk, juice & drinks, Tea
(We Sell):
Address: D.T road, Pahartali,Chittagong,Bangladesh.
Number of Employees: Above 1000 People

Ownership & Capital

Year Established: 1954
Legal
Representative/Business Mr.Sagar
Owner:
Trade & Market
North America
South America
Western Europe
Eastern Europe
Main Markets: Eastern Asia
Southeast Asia
Mid East
Africa
Oceania
Total Annual Sales
Above US$100 Million
Volume:

Category: Business Furnitures

Order: *Popularity - Newest - Oldest

Hatil Group
Established in 1989, HATIL Complex Ltd. is a leading manufacurer of doors and
furniture in Bangladesh that followed in the footsteps of H A Timber Industries Limited -
a company running since 1966 with a higher reputation in timber processing.
http://www.hatil.com.bd [1343]-[History

House # 2, Road # 13, Sector # 1,

Uttara Model Town, Dhaka.
Phone:+880-2-8950185
Fax: +880-2-8921799
Web: www.hatil.net]

Hatil Complex Ltd. is a leading doors and furniture manufacturer in Bangladesh. Hatil
has been established in 1989 following the footsteps of H.A. Timber Industries Ltd. - a
company running from 1966 with reputation in timber processing sector.

The constant persuit for achiving excellence in quality of its products and customer
service has brought the company reputation and reliability along with the trust of its
customer.

Equiped with state-of-the-art machineries and skilled craftman, Hatil has started
exporting furniture in a limited way.

When you specify a Hatil product you are guaranteed the very best quality materials
available backed by a company with a proven track record and a long term commitment
to customers service - which continues for long after you have made your purchase.
The goal of the Human Resource Policies at HATIL is to recruit the best possible team
members and to retain them through continuous development process. We believe in
equal employment opportunity and fully adopted the Philosophy of non-discrimination in
employment for disabled and minority groups who possesses the potential to utilize their
skills and knowledge.

HATIL’s policies and practices foster a learning environment, where employees are
beneficiaries and stakeholders, and are treated with respect. HATIL believes in
participatory approaches to management. HATIL organizational structure elaborates
distinct positional Structure with specific job description at each Management layers to
provide cohesion & consistency across functional structures.

HATIL has set policies on work place and work conditions for its employees to promote
a safe and healthy work environment with all kind of modern facilities. Employees
encouraged each other and possess a positive attitude towards creating an enabling
working atmosphere in the organization. The internal audit committee and line managers
have specific responsibilities to ensure that employees follow established safety policies.
Line Managers motivate team members and ensure compliance to organization safety
rules and common safety practices. All staffs must use the safety tools and equipment at
work. If any accident occurs in course of employment, company policy provides
compensation to affected team associate.

The HATIL Performance Management System (PMS) is a participatory system and used
as a framework in which an employee's performance can be broadly and objectively
planned, monitored coached and evaluated. The overall objective of PMS is
communication, not filling out forms, more specifically the objectives are:

• To establish clear expectations consistent with both HATIL mission and with personal
and professional objectives,
• To provide a tool for managing employee performance,
• To provide coaching and feedback necessary for high performance of all employees;
and
• To have specific information necessary for strategic decisions.

At HATIL Training is a process of enhancing the behavior, knowledge and skills of the
employee to match with the requirement of the company. The Company has created an
environment that facilitates employee development initiatives. We provide necessary
resources for training and development. Training needs are assessed through the
performance appraisal format. HATIL organize in-house, institutional and overseas
training programs for all the employees. After any training or workshop the employees
have to fill up an evaluation from to provide feedback on their experience & expectations
at their course through the training program.

HATIL actively take interest & ensure use of modern IT facilities at all business units.
We also ensure all our colleagues are properly trained to use such kind of modern
technology at work on day-to-day basis.

HATIL management insures all employees through Group Insurance policy with effect
from January 01, 2009. This is applicable for all the permanent positions from the date of
his joining in the company. The coverage are: Group Term Life Insurance (Natural
Death), Accidental Death Benefit, Permanent and Total Disability and Permanent Partial
Disability.

Partex Beverage Bangladesh

Our Mission
Our mission is to provide value at an economic cost, progress in diversity, and continueto
contribute to the growth of industrialization in Bangladesh by being the
market challenger´
I
n 1994, Mr. M. A. Hashem, Chairman of Partex Group visited an
I
nternationalTrade Exhibition in the US, where he happened to meet the executives of
RoyalCrown Cola Co.
I
nternational. From then on he started conceptualizing the idea of ³RC´ beverage brand in
Bangladesh. With international brand name recognitionand quality he expected that it
would gain acceptability in the Bangladesh marketWhen he returned, a wide range of
marketing research was carried out by Partex aswell as RC
I
nternational. After positive results, in 1996, the Corporate Head andthe Directors formed
Partex Beverage Ltd. Mr. Rubel Aziz, one of the pioneers of the concept of RC, was
given the position of Managing Director. Funds worth Tk.10 Crore were raised as part of
Equity from the Group. Although registered as aPublic Limited Company, no public
offerings have been made as yet. The factorywas setup in Rajendrapur, 40km away from
Dhaka city. The company commencedcommercial production on 6th October 1997, and
RC was launched in Dhaka on20th October 1997. This is the story of how Partex
Beverage Limited became thesole official bottler of Royal Crown Cola Co.
I
nternational.Now it has been almost 3 years since then, and a number of new products, in
newand innovative packages have been introduced to the market. Partex Beverage
hasalso introduced RC outside Dhaka into unexplored markets. We are proud to saythat
we have stuck to our mission and are now worth over Taka 80 crore (US$ 16Million)

Partex Food Product

Welcome to Danish Food Products
 There are four types of Danish food products namely Danish Condensed Milk,Danish
Fruit Juice, Danish Milk Powder and Danish Biscuit. For producing thequality products
and sound management of the company.
I
t has achieved thequality management certificate
I
SO 9001-2000.For producing quality productDanish Condensed Milk has achieved the
HACCP certificate at first inBangladesh.
A
BOUT US
VISION
We are the leading Condensed Milk manufacturer, seller and distributor inBangladesh
achieving our business vision through growth in market reach,increasing operation size,
international distribution, total service and consistentbranding activities by the being
most customer focused &
I
nnovative, costeffective & efficient, environmentally responsible & quality concerned
company inthe business.
MISSION
"Our mission is to provide satisfaction at a competitive cost, grow in diversity,
andcontinue to contribute to the growth of industrialization in Bangladesh by being
themarket leader "
CUSTOMER FOCUSED & INNOV
A
TIVE
We believe our success depends on our customers. Thus, our primary value is
thefulfillment of our customer's needs. Our manner of achieving this success is toinclude
value for money,
INTEGRITY
We are committed to conduct our business in such a way that demonstrates the

highest ethical standards. We believe integrity is our imperative utility to succeedin what
we do.To uphold the superiority in the market Danish maintains the following policies.
Q
U
AL
ITY PO
L
ICY
To produce goods as per customers satisfaction.To select employees on the basis of
qualification.To keep hygienic conditions in the factory.To ensure the health of the
workers.To improve the quality management system continuously.

1. Introduction
1.1
Ownership Structure & Business of the Company in Brief

Abul Khair Group is one of the largest and rapid growing companies in Bangladesh.
It is a family oriented business. It was established in 1953 by late Abul Khair. The
company started with Abul Bidi, still a familiar brand for those who smoke bidis. Later
on, the company expanded its business to other sectors. It is now one of the most
successful companies in terms of professionalism and management excellence. The main
business objectives are to prove guaranteed quality, fair and competitive price and
optimum services leading to total consumer satisfaction.

The product lines of Abul Khair Group include Fast Moving Consumer Goods (FMCG),
Industrial Products and Trading. The company has its prime manufacturing ventures in
steel products, food and beverage, condensed milk, full cream milk powder, cement,
tobacco, soyabean oil, coconut oil, butter oil, tea etc. Over 10,000 personnel are working
for this renowned company directly.

Among the several units of Abul Khair Group, milk and beverage is one of the most vital
divisions of the group. This division produces and packs condensed milk, powder milk,
several types of juice, flavored milk, drinks, snacks and supreme quality tea. All of these
products ensure supreme quality, availability and customer satisfaction. All the products
are produced under better hygienic conditions by using sophisticated technology. Total
Quality Management (TQM) is practiced in this division (milk and beverage) and that's
why the company was awarded with the certificate of ISO and HACCP. Premium quality
raw materials are used to produce all the products. These products are

distributed under a strong distribution system. For this reason, the company has
a large number of satisfied and loyal customers with strong brand image.

The vision of the company:

“To attain quantitative and qualitative leadership in all the sectors we
operate.”

The mission of the company:

Consolidate our position in the areas where we lead and continue to invest in people,
processes and technology to enhance our organizational capability to ensure long-term
and substantial growth. Embracing change at every level to achieve highest level of
professionalism remains as the key focus for all.”
The different sections of Abul Khair Group are:
•
Abul Khair Steel Limited
•
Abul Khair Consumer Goods
•
Abul Khair Tobacco Limited
•
Abul Khair Oil Limited
•
Shah Cement Industries Limited
The products of Abul Khair Group are:
•
C.R. Coil
•
C.G.I. Sheet
•
G.P. Sheet
•
Ridging
•
Jhalor
•
Star Ship Condensed Milk
•
Star Ship Full Cream Milk Powder
•
Star Ship Fruit Juice
•
Star Ship Mango Milk
•
Star Ship Chocolate Milk
•
Seylon Tea
•
Shaad Snacks
•
Marine-Special Blend
•
Sun Moon-Filter Kings
•
42 No. Abul Bidi
•
Special Abul Bidi
•
Star Ship Soyabean Oil
•
Star Ship Coconut Oil
•
Star Ship Mustard Oil
•
Shah Cement
1.2
The New Product to be Launched

The new product that we want to launch from this company is premium ice cream, a new
portfolio for the markets of Bangladesh. The new product will offer completely unique
varieties, will include nutritious ingredients and will be produced according to the
international standards in order to provide the consumers of Bangladesh an inexperienced
appetite.

2. Strategic Planning
2.1
Company Objectives & Goals

The objective of the company is to build profitable customer relationships by serving the
appetite of the people of Bangladesh with international quality premium ice creams, with
the sense of a difference.

The company will start by launching four varieties of premium ice cream. Later it will
add more unique varieties and keep on improving quality. The company is reluctant to
have any compromise on quality.

The short term goals of the company:

•
To capture the market shares of premium ice cream by 90%.
•
To capture 20% market shares of total ice cream industry within 5 years.
•
To cut down the production cost of premium ice cream by 15% within 3
years.
•
To sell ice creams worth BDT 10,000,000 the first year.
•
To introduce another 15 unique varieties of premium ice cream within 3
years

Address For Application:

The Head of Human Resources Division,
Abul Khair & Company, D.T. Road,
Pahartali, Chittagong

Contact Person

Website:

Job Email:
opportunity@abulkhairgroup.com

Last Date To Apply: 2010-12-30

FINANCIAL CONDITION OF BEXIMCO PHARMACEUTICALS LTD

1
1.1 Introduction
Beximco Group is the Bangladesh's largest private sector industrial enterprise which has
targetedthe industries that the country needs most for progress, improved living standards
andBangladesh's competitive advantages in the international market. Through its ongoing
growth, ithas created industrial and management capabilities that are serving the national
market as well asthe global market for generations. Beximco's industrial and non
industrial sectors include Textile,Jute, Ceramics, ICT & Media, Synthetics, Travel
Services, Investment & Financial Services,Trading, Real Estate & Construction and
Pharmaceuticals.Among all its industries Beximco Pharmaceuticals Ltd. is the most
profitable industry which hasbrought a revolutionary change in the pharmaceutical sector
of Bangladesh. Now, BeximcoPharmaceuticals, mostly known as Beximco Pharma, is the
leading in its field by manufacturingand capturing the market through a high quality and
cost-effective formulations covering allmajor beneficial groups. Products of Beximco
Pharma are made under license of UpjohnIncorporated, USA followed. After its initial
years of struggle it broke ground with the launchingof its own products in 1983. Today, it
holds 15% shares in the national market after competingwith such multinational giants as
Glaxo Welcome, Novartis, Rorer, Fisons etc. and as well aswith some big national ones
like Square, ACI, INCEPTA, IBN SINA PHARMA etc.It uses the most modern
equipment for quality control and strict quality assurance procedure andits manufacturing
process conforms strictly to ensure to deliver clear health benefits and higher values to
the patients. As it believes that being in the business which deals with human
healthmakes it more responsible towards the society

1.1.1 Company Profile:

Beximco Pharma is acclaimed for its outstanding product quality, world-class
manufacturingfacilities, product development capabilities and outstanding professional
services. It is the pioneer in pharmaceutical export from Bangladesh and has received
National Export Trophy (Gold) for three times. In 2008 the company has added some
more excellence in its journey as it is the onlyBangladeshi company which received GMP
Certification from Gulf Central Committee for DrugRegistration, received GMP
Clearance from Therapeutic Goods Administration (TGA), registered45 new products in
10 countries & entered into 7 new countries and many more.The companymanufactures
and markets its own branded generics for almost all diseases and also undertakescontract
manufacturing for multinational pharmaceutical companies all over the world.
Key Facts of Beximco Pharma
Year of Establishment- 1976Commercial Production- 1980Status- Public Limited
CompanyBusiness 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, SaudiArabia, Singapore, Sri Lanka, Vietnam and
Yemen.Authorized Capital (Taka) -

2,000 millionPaid-up Capital (Taka) -

1,259.57 millionNumber of Shareholders-

Around 66,000
Stock Exchange Listings-

Dhaka Stock Exchange, Chittagong Stock Exchange and AIM of London Stock
Exchange.Number of Employees-

2,310

1.1.2 Company’s Mission:

Each of Beximco Pharmas’ activities must benefit and add value to the common wealth
of our society. It firmly believes that, in the final analysis it is accountable to each of the
constituentswith whom it interacts, namely: its employees, its customers, its business
associates, its fellowcitizens and its shareholders.

1.1.3 Company’s Vision:

“We are building a healthier tomorrow”.

1.1.4 Purpose of this Study:

This study has been designed in such a way that finance students are going to learn the
in-depthknowledge about a company’s financial condition. They will be able to judge the
differencebetween conservative and leveraged, flexible and restrictive firms. The main
purpose of thisreport is to reinforce the concept of financial policy of Beximco Pharma
along with its allfinancial ratios, working capital management, short-term financing and
long-term financing.etc.Overall, this study will make a finance student more enriched
with concepts that is more likely touse in real life scenario.

1.1.5 Limitation:
This report is limited by number of factors. Firstly, the report is limited to the data that
areavailable in the website related to Beximco Pharma. Secondly, we had limited
resources to dealwith because we had limited access to the corporate office as in finance
department of Beximc
Pharma where high security has been followed. Finally, we have used our own judgments
inmany ways from our Business Finance–1 course in order to simplify the research,
evaluate,calculation and advising.
2.1 Interpretation of Financial Information and Ratio2.1.1 Profitability Ratios:
Profitability Ratios focus on how well a firm is performing. Profit margins measure
performancewith relation to sales.
2.1.1.1 Gross Profit Margin:
Gross margin is simply the amount of each dollar of sales that a company keeps in the
form of gross profit, and it is usually stated in % terms. The higher the gross margin, the
more of apremium a company charges for its goods or services.Gross Profit Margin =
Gross Profit / SalesTable 1: Illustrating the values of the variables required for Gross
Profit Margin (Appendix 7)
2006 (in Taka) 2007 (in Taka) 2008 (in Taka)
Sales3,702,317,1593,597,024,8124,010,167,059 Gross
Profit1,731,085,8261,629,514,8372,007,295,878
G r o s s P r o f i t M a r g i n 4 6 . 7 6 %
4 5 . 3 0 % 5 0 . 0 6 %

FINANCIAL CONDITION OF BEXIMCO PHARMACEUTICALS LTD

22
in the EPS. Therefore the company with increase in EPS despite having very good
amount of debtcan be marked as risky. As it has shifted from being a conservative to
being an aggressive, poor DCL in 2006 has also been recovered and a steady position can
be seen in 2007 & 2008 thoughthe DCL of 2008 is much lower than the DCL of 2007.
4.1 Working Capital Management Policy of the Company
The Working Capital Management Policy of a company basically brings into focus level
of current assets a company has and how it finances them. Managing the Working Capital
is vital for a company and managing basically are the decisions regarding the level of
inventories to be kept,time period for which Accounts Receivables should be kept
outstanding and also the period of time for payments of Accounts Payables.Two major
components of managing Working Capital are the estimations of the Operating Cycleand
the Cash Cycle. For the estimation of Operating Cycle and Cash Cycle the estimations
of Accounts Receivables Period, Accounts Payable Period and Inventory Period are
required.Table 18: Illustrating the values of the variables required for Working Capital
Management(Appendix 9)
2 0 0 6 ( i n D a y s ) 2 0 0 7 ( i n D a y s ) 2 0 0 8 ( i n D a y s ) Inventory Period
3 1 7 . 3 9 d a y s 3 1 4 . 6 6 d a y s 2 7 0 . 3 7 d a y s
Account Receivables Period
5 9 . 6 4 d a y s 4 7 . 1 6 d a y s 4 5 . 6 8 d a y s
Operating Cycle
3 7 7 . 0 3 d a y s 3 6 1 . 8 2 d a y s 3 1 6 . 0 5 d a y s
Account Payables Period
5 3 . 9 1 d a y s 5 9 . 0 6 d a y s 4 8 . 7 3 d a y s
Cash Cycle
3 2 3 . 1 2 d a y s 3 0 2 . 7 6 d a y s 2 6 7 . 3 2 d a y s

FINANCIAL CONDITION OF BEXIMCO PHARMACEUTICALS LTD

23
Figure 17: Operating Cycle and Cash Cycle of 2006Figure 18: Operating Cycle and Cash
Cycle of 2007
FINANCIAL CONDITION OF BEXIMCO PHARMACEUTICALS LTD
24
Figure 19: Operating Cycle and Cash Cycle of 2008
4.1.1 Inventory Period:
It starts from the time stock of goods purchased arrives at the factory and ends at the
point wherefinished goods are sold. According to the information provided in the annual
reports of BeximcoPharma, their Inventory period has decreased every year from 2006. It
is a good sign for thecompany as it means they are getting efficient at producing the
finished goods and not keepingideal stock.
4.1.2 Account Receivables Period:
It begins with the sales of the finished goods and ends when customer makes payment.
Thisperiod is vital for every company as it determines the time by which company gets
back moneyfrom its credit customers. In the case of Beximco Pharma, it can be seen that
the AccountReceivables Period has decreased gradually in the last three years. This is
promising because it

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Financing Policy of the Company
Financing policy of a company mainly represents how the company finances its
investments, howit allocates the investments; in terms of assets and how it is generating
its revenues based on theseprevious terms. Financing policy of the Beximco Pharma can
be analyzed in the following ways