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10	10	Square Pharmaceuticals, the flagship company of Square Group, is the largest pharmaceuticals company in Bangladesh. The company was established in 1958 as a partnership firm by Late Samson H. Chowdhury. It was incorporated as a private limited company in 1964. The company was converted to public limited company in 1991 and got listed in the stock exchanges in 1995. The company is holding the highest position in the industry since 1985 and it aspires to become a high-performance global player. The company started its exporting business in 1987 and now exports to more than 43 countries around the globe.{{footnote}}https://www.thedailystar.net/business/economy/news/square-pharma-set-launch-factory-kenya-2089101{{/footnote}} In financial year 2019-20, the company exports amounted to Tk 165 crore, an 11% increase year on year.
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12	12	Square Pharmaceuticals has an authorised capital of Tk 10,000 million and paid-up capital of Tk 8,864.51 million. The face value of the company share is Tk 10 each. General public holds 36.25% of the total shares; sponsors, foreigners, and institutions hold 34.57%, 18.61%, and 10.57%, respectively. The company employs 9,500+ people. Square Pharmaceuticals has two subsidiary companies – Square Pharmaceuticals Kenya EPZ Ltd., and Square Lifesciences Ltd. Corporate headquarter of the company is situation in Mohakhali Commercial Area, Dhaka, Bangladesh.
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105	105	The pharmaceuticals industry is the least affected industry during Covid-19 pandemic restrictions in Bangladesh. According to the annual report 2020 of Square Pharmaceuticals, the company has faced fewer restrictions, no disruption in raw materials supply, or any delay in production and distribution. Therefore, the company has posted stellar performance figures in the last financial year. This indicates strong foothold of the company’s operation.
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	108	+Square has a strong non-current asset base of BDT 34 billion in FY 2020. The non-current assets of the company have remained almost static in terms of value compared to the past year. Shareholder’s equity of the company is BDT 77 billion, an increase of BDT 10 billion from a year earlier. A closer inspection shows that the increase is due to improved position in retained earnings, which in turn is profitability of the company. Current ratio of the company is about 15 times. Current liability of the company is about BDT 3 billion but the company holds BDT 47 billion of current assets. The current assets’ position of the company is good due to its BDT 32 billion cash and cash equivalents. This indicates that Square has the power to invest heavily.
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	110	+Profitability ratios of the company has improved during FY20 compared to the previous financial year. For example, the gross profit margin ratio has increased from 49.05% to 50.88%; net profit margin from 36.10% to 37.46%; net profit margin from 27.30% to 28.24%. Export of the company has also increased from BDT 1,491.56 million to BDT 1,653.75 million in FY20, a 10.95% increase over the previous year.
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	112	+Price to earnings ratio of the company has stood at around 15 times based on audited financial statements as of September, 2021. The company has declared 47% cash dividend in 2020 and 42%, 36%, 35%, 40%, 30% in the previous respective years. The company has also declared stock dividend of 5%, 7%, 7%, 7.5%, 10%, and 12.50% in the aforementioned years, respectively.
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	115	+[[image:dividend.png||alt="dividend pattern of square pharma" height="280" width="466"]]
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	117	+= Recent Development =
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	119	+* The company will start its operation in the Kenya by this year
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