Cephalosporins Ltd. Continuous Improvement of customer satisfactions and resource management. Methodology: All information of this assignment paper is collected from two sources. These are given on the below. First one is Primary Data (directly collected from Annual Report Of Square Cephalosporins Ltd). And another is Secondary Data (from the Internet). Limitations: This report is not out of some limitations. Throughout the report we have faced a lot of problems. Some of this are
Limitations regarding appropriate locations Lack of information on recent wind speed. No definite government rules regarding about company Act etc.
ABOUT SQUARE
SQUARE today symbolizes a name a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player. 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. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92% market share (April 2006 March 2007) having a growth rate of about 23.17%.
reaching the lowest rungs of the economic class of people in the country. We value our social obligations. We owe to our shareholders and strive for protection of their capital as well as ensure highest return and growth of their assets. We strive for best compensation to all the employees who constitute the back-bone of the management and operational strength of the Company through a pay-package composing salary/wages, allowances, bonus, profit participation, leave salary and superannuation & retirement benefits. We strive for best co-operation of the creditors & debtors the banks & financial institutions who provide financial support when we need them, the suppliers of raw materials & suppliers who offer them at the best prices, the providers of utilities-power, gas & water etc. and the customers who buy our products & services by redeeming their claim in time by making prompt payment and by distributing proper product on due dates. We strive for fulfillment of our responsibility to the Government through payment of entire range of due taxes, duties, and claim to various public agencies. We strive, as responsibilities citizen, for a social order devoid of malpractices, antienvironmental behaviors, unethical and corruptive dealings. We strive for practicing good governance in every sphere of activities covering inter alia not being limited to, disclosure & reporting to shareholders holding AGM in time, distribution of dividends and other benefits to shareholders, reporting/dissemination of price sensitive information, acquisition of share by insiders, recruitment & promotion of staff, procurement & supplies, sale of assets etc. all that directly and indirectly affect the interest of concerned groups the shareholders, the creditors, suppliers, employees, government and the public in general.
Ensure strict compliance with WHO cGMP standards and local regulatory norms in every phase of sourcing & procuring quality materials, manufacturing, quality assurance and delivery of medicines. Ensure all activities through documented Quality Management System (QMS) complying International Standard requirements of ISO 9001 through continuously developing Human Resources by regular training and participation. SQUARE is committed to undertake appropriate review, evaluation and performance measurement of processes, business activities and Quality Management System for continual improvement to ensure highest standard, customer satisfaction, developing human resources and companys growth.
Secured the top position for the best published accounts and report for 2003 in the manufacturing category for transparency and excellence in corporate reporting. 2005: New State-of- the-Art Square Cephlosporins Ltd. goes into operation; built under the supervision of TELSTAR S.A. of Spain as per US FDA/ UK MHRA requirements.
CORPORATE INFORMATION
Our vision, our mission and our objective are to emphasize on the quality of products, process and services leading to growth of the company imbibed with good governance. Corporate Governance:Top Management: Board of Directors As per provisions of the Article of Association, Board of Directors holds periodic meetings to resolve issue of policies and strategies, recording minutes/decisions for implementation by the Executive Management. Executive Management: The Executive Management is headed by the Managing Director, the Chief Executive Officer (CEO) who has been delegated necessary and adequate authority by the Board of Directors. The Executive Management operates through further delegations of authority at every echelon of the line management. The Executive Management is responsible for preparation of segment plans/sub-segment plans for every profit centers with budgetary targets for every items of goods & services and are held accountable for deficiencies with appreciation for exceptional performance. These operations are carried out by the Executive Management through series of committees, sub-committees, ad-hock committees, standing committees assisting the line management.
General Information CORPORATE HISTORY: Year of Establishment (Initially as a Partnership) Incorporated as a Private Limited Company Technical Collaboration Agreement with Janssen Pharmaceuticals of Belgium (A subsidiary of Johnson & Johnson International Ltd.) Technical Collaboration Agreement with F.Hoffman-La Roche & Co. Ltd. Converted into Public Limited Company Initially Public Offering (IPO) Stock Exchange Listing (Dhaka & Chittagong) Agreement with M/s. Bovis Tanvec Ltd. of UK for implementation of Dhaka Plant : 1958 : 1964 : 1975
Associate Company
: 1998 : 2007 : Manufacturing and Marketing of Pharmaceutical Finished Products, Basic Chemicals, AgroVet Products and Pesticide Products : US$ 73.5 Million (Tk. 5,000 Million) : (Tk. 1207.22 Million) : 3,564 : Square Cephalosporins Ltd. Square Biotechs Ltd. Square Multifabrics Ltd. : Square Textiles Ltd. Squar Knit Fabrics Ltd. Square Fashions Ltd. Square Hospitals Ltd.
Our Facilities
SQUARE Pharmaceuticals Ltd: Square Pharmaceuticals Limited is an organization with equal emphasis on Leadership, Technology, Quality and Passion. Square Pharmaceuticals Ltd. is the leading branded generic pharmaceutical manufacturer in Bangladesh producing quality essential and other ethical drugs and medicines. It was established in 1958 and has been continuously in the 1st position among all national and multinational companies since 1985. And now SQUAREPharmaceuticals is set on becoming a high performance global player in the field.
Turnover (Gross) Value Added Tax Turnover (Net) Gross Profit Net Profit before Tax Net Profit after Tax Shareholders Equity Total Assets Total Bank Borrowings Total Current Assets Total Current Liabilities Current Ratio
9,565,716 8,711,035 7,085,553 6,199,135 5,482,088 1,307,872 1,210,223 995,648 867,088 760,536 8,257,844 7,500,811 6,089,905 5,332,047 4,721,552 3,401,782 3,232,364 2,564,503 2,172,593 1,906,592 1,868,634 1,722,906 1,533,043 1,513,019 1,151,636 1,381,863 1,303,243 1,165,865 1,255,848 970,044 8,417,041 7,333,258 6,402,015 5,568,790 4,590,142 12,703,127 10,486,940 9,298,987 7,907,933 6,021,497 3,569,280 2,536,524 2,334,925 1,902,331 988,611 4,411,836 3,682,511 4,031,685 3,242,502 2,016,056 3,500,845 2,555,566 2,260,755 1,949,949 1,250,676 1.26 1.44 1.78 1.66 1.62 Figure in thousand : US$
2007-08 2006-07 2005-06 2004-05 2003-04
Turnover (Gross) Value Added Tax Turnover (Net) Gross Profit Net Profit before Tax Net Profit after Tax Shareholders Equity Total Assets Total Bank Borrowings Total Current Assets Total Current Liabilities Current Ratio
140672.29 19232.41 121438.88 50026.20 27479.91 20321.51 123780.01 16810.69 52489.41 64879.94 51483.01 1.26
128103.45 100790 93997.49 93137.75 17797.39 14162.85 13147.65 12921.10 11006.000 86627.38 80849.84 80216.65 47534.76 36479.41 32943.03 32391.98 25336.85 21807.15 22941.91 19565.68 19165.33 16584.13 19042.42 16480.53 107842.03 91067.06 84439.57 77984.06 154219.70 132275.77 119908.00 102302.02 37301.82 33213.72 28845.04 16795.97 54154.57 57349.72 49166.06 34251.71 37581.85 32158.67 29567.08 21248.31 1.44 1.78 1.66 1.62
No. of Share Outstanding Dividend per Share(Cash) Dividend per Share(Stock) Shareholders Equity per Share EPS at original capital at IPO Earning per Share (SPL) Earning per Share (Consolidated) Quoted Price per Share DSE Quoted Price per Share CSE Price Earning Ratio DSE (Time) Number of Shareholders Human Resources : Executive Staff Workers
8,942,400 5,961,600 4,968,000 4,320,000 3600,000 40 50 75 77 70 35% 50% 20% 15% 20% 941 1,230 1,289 1,289 1,063 690.93 651.62 582.93 627.92 485.02 154.53 218.61 234.67 290.91 224.55 170.28 244.60 272.65 303.55 233.29 4,110 2,447 2,276 3,768 2,272 4,107 2,462 2,289 3,766 2,316 26.60 11.19 9.70 12.95 10.12 31,688 13,009 13,206 10,486 9,270 2007-08 2006-07 2005-06 2004-05 2003-04 1,525 1,242 1,143 949 895 1,110 913 796 740 686 929 846 764 705 661
SQUARE first ventured into the textile sector with the establishment of the first unit of the SQUARE Textiles Ltd. in 1997. A year later the establishment of the second unit followed. Today it has one of the most sophisticated vertically integrated set-ups in the country. Some of SQUARE Groups ventures in the textile arena are: SQUARE Textiles Ltd., SQUARE Spinning Ltd., SQUARE Knit Fabrics Ltd., SQUARE Fashions Ltd. SQUARE Yarns Limited and RASTAS Apparels Ltd.
SQUARETextiles Ltd.Year of Establishment Unit 1 : 1997; Unit 2 : 1998Products 100% Cotton Ring Spun Yarn for HosieryTarget Market Export Oriented Readymade Garments IndustryInvestment Unit 1 : US$ 20.00 million, Unit 2 : US$ 13.50 million Financial Status (2006) Annual Turnover : US$ 38.00 million
SQUARESpinnings Ltd. Year of Establishment 2000 Products 100% Cotton OE Rotor Yarn for Hosiery Target Market Export Oriented Readymade Garments Industry Investment US$ 12.00 million Financial Status (2006) Annual Turnover: US$ 18.18 million SQUARE Fashion Ltd. Year of Establishment 2001 Commencement of Production June 2002 Products Readymade Knit Apparel Target Market Europe and USA Investment US$ 15.00 million Financial Status (2006) Annual Turnover: US$ 41.00 million
SQUARE Knit Fabrics Ltd. Year of Establishment 2001Commencement of Production June 2002Products Knit Fabric ProductionTarget Market Export Oriented Readymade GarmentsInvestment US$ 20.00 million Financial Status (2006) Annual Turnover: US$ 26.00 million
SQUARE Toiletries Ltd. started its journey in 1988 with a single product as a separate division of SQUARE Pharmaceuticals. In 1994, SQUARE Toiletries Ltd. becomes a Private Limited Company. At present, STL is the countrys leading manufacturer of international quality cosmetics and toiletries with over 50 products. Currently, STL is Carrying out its production in its two automated plants at Rupsi and Pabna. Depending on the nature of products, formulation and packaging, STL has product specific machinery. STL uses raw materials from the world renowned suppliers like Dragoco, Firmeuich etc. STL always performs international standard production process which follows the Good Manufacturing Practice (GMP).
In 2001, SQUARE Consumer Products Ltd started its operation as an individual company. Within a very short span of time SCPL has drawn the attention of the consumers by providing quality products and preferred services.
Year of Establishment 2001Commencement of Production June 2001 Manufacturing Business Powdered spices (Chili, Turmeric, Cumin, Coriander & mixed spices) and ethnic
snacks.Target Market Bangladesh and currently being exported to countries like USA, UK, UAE, Italy, Germany, Saudi Arabia, Kuwait & South Korea.Investment US$ 15.00 million
The vacuum in the quality data connectivity within distributed offices for online systems inspired SQUARE to diversify into the information and communication technology (ICT) sector. SQUARE InformatiX Ltd. pioneered and commissioned the first of its kind VSAT Control Center with capacity to control 16,000 VSATs at Gazipur to provide the most secured, reliable and cost effective data communication within and outside the country.
Apart from the communication solution, SQUARE InformatiX Ltd. also have long experiences in providing complex network solution, deployment of integrated Enterprise Resource Planning system and provider of Corporate Internet Services. Microserve Ltd. Microserve Ltd., a subsidiary of SQUARE InformatiX Ltd., was chosen by Microsoft Corporation as the sole Market Development Partner for Bangladesh for all Microsoft products.
AgriBiotech Project :
SQUARE has setup a plant tissue culture laboratory to develop agricultural/agro processing sector in the country and is committed to bring improved quality planting materials and year round production through AgriBiotech. The major activities of AgriBiotech is to provide disease free, stress free, high yielding seed & seedlings such as potato, banana, ginger, turmeric and some flowers including varieties of orchids to the farmer & nurserymen to solve quality seed problems in this agro based country. Well equipped around 4000 square feet tissue culture laboratory is situated at Uttara, a convenient location, having careful designing and planning, facilitated to produce 10,00000 seedlings per year. The other activities of this project will be of research and development in the field of Biotechnology to protect some of endangered medicinal plant and to bring some new as cane, rattan, bamboo which is almost extinct in the country.
SQUARE Hospitals Ltd., a concern of Square Group, is a 300 bed tertiary care hospital. The hospital is an affiliate partner of Methodist Healthcare, Memphis, Tennessee, USA; Christian Medical College-Vellore, India; and Care IVF (In-vitro fertility centre) Centre, Singapore. Square Hospitals vision is to become the location of choice for Bangladeshis and people of South and South East Asia for quality healthcare, as well as an integrated centre for clinical services, medical and nursing education and research.
SQUARE is the leading Pharmaceuticals of the country. SQUARE is dedicated to advance technology and the pioneer in introducing innovative ideas. SQUARE HERBAL & NUTRACEUTICALS LTD. an endeavor of SQUARE Group that has been evolved to ensure the availability of modern Herbal Medicines to the people of this country. To ensure modern Herbal Medicines, the company is dealing with the products of natural sources that have scientific data to prove their clinical indications and efficacy. operating a GMP compliant manufacturing plant and quality assurance that are in line with the practices of developed world. sourcing raw materials from the renowned suppliers only. ensuring the products having quality assurance commensurate to SQUAREs quality policy. involving highly qualified, skilled and well trained personnel in manufacturing, marketing, sales and distribution. SQUARE HERBAL & NUTRACEUTICALS LTD. is devoted to Rational Phytotherapy based on four basic rules of phytomedicines suggested by the German Commission E 1. Phytomedicine therapy based on dose-effectiveness 2. Efficacy demonstrated from clinical studies 3. Phytomedicines that are standardized extracts. 4. A high level of pharmaceutical quality for successful phytotherapy SQUARE HERBAL & NUTRACEUTICALS LTD. Introducing Western Herbal Medicine Modernization of Ayurvedic Medicine Hepatoprotective- Silymarin Cough syrup Cognitive disorders Ginko biloba Iron supplement Antidepressant- St. Johns wort Vitalizer Vitalizer- Ginseng Digestives etc. SQUARE is committed to ensure better health through quality medicines
Cephalosporins Unit
to 56 +88-02-8834941, +88-02-8828768, +88-028828609 The company is involved with production and distribution of 100% Drugs & Medicine. The company will operate its activities in Bangladesh and Aboard. It can extend its project anywhere suitable in the country.
Capital:
Distribution of Profit:
At the starting point the firm will have a capital of Tk.954520884. In case of necessity additional capital can be collected from the partners. According to the ratio of capital the profit will be distributed or loss will be covered equally among all Share Holders.
Every Share Holders will take part in the operation of the business. The first Share Holder Samson H. Chowdhury will work as Chairman. That proper Book of Accounts of the business shall be maintained and kept at the office and the Share Holders shall have free access to the Books of Accounts. That an Annual balance sheet for profit and loss shall be prepared which shall be shared by the parties proportionately. The company will maintain its accounts in a fiscal year consisting of July 1st to Jun 30th. Account of the firm shall be opened in the name of the firm with any schedule bank or banks of Bangladesh. In banking transaction the signature of Managing Director/Accountant is mandatory. For the overall welfare of the firm new partners can be admitted in the firm but no new partners can be added without the full written consent of the partners. Any Share Holder can take retirement from the company by providing a three months prior notice. In case of death of any Share Holders his nominee or
Admission of Partnership
Repayment Of capital
Grievance Procedure
successor can become a Share Holders on the consent of other Share Holders. In the event of the death or retirement of a Share Holders, the remaining partner will pay the state or retiring Share Holders the full amount of the original investment. The payment will be made within 1year of the death or retirement of the Share Holders. If grievances between partners cannot be resolved, an arbitrator will be hired that is acceptable to Share Holders. The decision reached after arbitration is binding.
Termination
In case of necessity or according to the occurring situation if the termination of the company has to done, the termination procedure will be followed by the Company Act 1994 prevailing in Bangladesh.
Change of Condition
With the consent of Companys rules & terms of the article can be amended.