Navana Pharma

Navana Pharma IPO subscription opens on 13 September and will continue till 19 September.

According to BSEC defined guidelines, the issuer will not be allowed to increase its paid-up capital within 4 (four) years from the exchange’s first trading date through the issuance of bonus shares.

Since 1986 the company operates in two categories of pharmaceuticals: veterinary and human health.

The company has a factory at Rupshi in Narayanganj. The general production unit and the veterinary production unit went into operation in 1986 and 2002 respectively.

The Animal Health division which started operation in the year 2002, produces all rage of Animal Health Products including Poultry, Large Animals and Aqua.

These products are sold in the local and international markets. The division is working as an international partner of the following companies: Montajat Pharmaceuticals Co. Ltd. (Saudi Arabia), Meriden Animal Health (UK), LAPROVET (France), Novus International Pte. Ltd. (Singapore), Polymix B. V. (Holland), Anpario PLC (UK), BASF (Germany), Zoetis (India).

Currently, the company is exporting products to Vietnam, Myanmar, Sri Lanka Kenya and Hong Kong. The production capacity of the company is as follows –

Projected Capacity Utilization (2022-2024):

The veterinary division manufactures and markets more than 123 high-quality medicines and feed supplements that include poultry, dairy, and aqua products.

The human health division produces more than 277 drugs such as tablets, capsules, oral liquids, ampoules, dry powder vials, powders for suspension, eye drops, creams and ointments, and more.

The financial accounts for the last five years indicate that the company’s business in the local market and exports have been steadily increasing.

Its products are exported to Myanmar, Vietnam, Sri Lanka, Kenya, and Hong Kong.

Navana Pharmaceuticals had total revenue of over Tk243 crore in fiscal 2017-2018. A large portion of that revenue, Tk223 crore was local sales and Tk10.82 crore were exported.

Five years later, in fiscal 2020-21, the company’s revenue increased to Tk360 crore. In FY21 the domestic sales are Tk336 crore and exports are Tk24 crore.

For FY21, the net asset value per share was at Tk40.9. In the first nine months of fiscal 2021-22, its earnings per share (EPS) were Tk2.39.

The company will raise capital of Tk75 crore by issuing shares to stock investors as an alternative source of finance instead of bank loans.

Following to its IPO announcement, the company will use the fund to renovate its cephalosporin unit and build manufacturing, utilities and engineering buildings.

Asian Tiger Capital Partners Investment Ltd and EBL Investments Ltd are the issue managers for Navana Pharma’s IPO.

Read the IPO Consent : https://dsestocks.com/docs/Navana-Pharma-IPO-Consent.pdf

Data Source: BSEC, DSE and NAVANA PHARMA