New drugs, strong marketing help Square Pharma maintain growth trend
Square Pharmaceuticals Ltd — one of the large-cap companies listed in the capital market — has once again posted growth in its business, thanks to its launching of new drugs as well as strengthening its marketing strategy.
The company's consolidated revenue grew 13.82% to Tk6,640 crore, and profit 14% to Tk1,818 crore in fiscal 2021-22, compared to the previous fiscal year.
Its earnings per share (EPS) stood at Tk20.51 in FY22.
Not only did the company's consolidated figures increase, but its subsidiaries also posted growths individually.
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Square Pharma's Chief Financial Officer (CFO) Md Zahangir Alam said the company had strongly focused on its marketing for growth during the year despite the market being slow in the last two quarters.
Also, it was trying to launch new drugs in the market that played an important role in the company's business, he added.
The company recommended a 100% cash dividend for its shareholders for FY22.
To secure approval of the dividend from its shareholders, the company has fixed 24 December for its online annual general meeting. The record date is 28 November.
Its board of directors also approved a Tk300 crore Balancing, Modernisation, Rehabilitation, and Expansion (BMRE) investment plan for buying new capital machinery and land for future expansion.
According to the Bangladesh Association of Pharmaceutical Industries, the country's pharmaceuticals industry is growing by 15% every year, and is expected to grow four times to Tk1 trillion by 2030. Square Pharma is the industry leader and holds around 17% of the market share.
The company was launched in 1958 and has been publicly listed since 1995.
The last trading share price of the company on the Dhaka Stock Exchange was Tk209.8 per share on Thursday.
