CRISL rated Square Pharma “AAA” in the long-term - Share market analysis of dhaka stock exchange, Bangladesh

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28 December, 2017 10:41 AM Source: The Financial Express Bangladesh

Credit Rating Information and Services (CRISL) has informed that the Rating Committee of CRISL has assigned the rating to Square Pharmaceuticals Ltd. as “AAA” in the long term.

The rating company has also rated as “ST-1” in the short-term along with a stable outlook, according to a disclosure posted on the Dhaka bourse website on Wednesday.

The rating company rating the Square Pharma in consideration of its audited financials up to June 30, 2017, unaudited financials up to September 30, 2017 and other relevant quantitative as well as qualitative information up to the date of rating declaration, the disclosure said.

Each share of Square Pharmaceuticals, which was listed on the Dhaka Stock Exchange (DSE) in 1995, closed at Tk 298.40 on Tuesday at DSE.

Square Pharma, the second largest market listed company in the Bangladesh’s capital market, disbursed 35 per cent cash and 7.50 per cent stock dividend for the year ended on June 30, 2017.

In 2016, the pharma company paid 40 per cent cash and 10 per cent stock dividend.

The company has also reported consolidated first quarter (Q1) earnings per share (EPS) for July-September, 2017 of Tk 4.39 for as against Tk 3.53 for July-September, 2016.

Consolidated net operating cash flow per share (NOCFPS) was Tk 5.41 for July-September, 2017 as against Tk 5.16 for July-September, 2016.

Consolidated net asset value (NAV) per share was Tk 76.22 as on September 30, 2017 and Tk 71.47 as on June 30, 2017.

The company’s paid-up capital is Tk 7.37 billion and authorised capital is Tk 10 billion.

The sponsor-directors own 34.43 per cent stake in the company, while institutional investors own 10 50 per cent, foreign investors 19.27 per cent and the general public 35.80 per cent as of November 30, 2017, the DSE data shows. 

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