A growing medicine maker with a steady, rising cash dividend — but its borrowing has climbed fast and profits have been bumpy.
Beacon Pharmaceuticals is a mid-to-large medicine manufacturer whose sales have grown strongly and which has paid a rising cash dividend every year. It suits a patient investor who likes a growing business with regular income and can accept two caveats: profits swing from year to year, and the company now carries far more debt than it used to.
Value today
Looks cheapToday
৳110
Rough estimate
৳161
Based on its own past price levels, what similar companies trade at, the value of what it owns and the dividend it pays. · low confidence
- Its own usual price vs profit৳248
- Priced like similar companies (profit)৳119
- Its own usual price vs asset value৳199
- Based on the dividend it pays৳35.0
A rough, educational estimate from the figures we have — not a price target or advice.
Data as of 2026-07-16
What does this company do?
Beacon Pharmaceuticals is a medicine maker listed since 2010 and one of the larger pharma companies on the market, with sales of about ৳1,254 crore in its latest year.
Beacon Pharmaceuticals PLC makes and sells medicines. It belongs to the Pharmaceuticals & Chemicals part of the market and has been listed on the Dhaka Stock Exchange since 2010 — more than 15 years as a public company.
It is a sizeable business. In its most recent year (2025) it sold about ৳1,254 crore worth of products. It has 23.1 crore shares in issue, a paid-up capital of ৳231 crore, and built-up reserves of about ৳435.7 crore. Its total assets have grown to roughly ৳1,940 crore.
The people who founded and run the company (sponsors and directors) hold about 39.86% of the shares, and institutions such as funds hold another 38.15%. That leaves only about 21.99% in the hands of ordinary public investors. High insider and institutional ownership usually means the owners' interests are closely tied to the company's fortunes.
How does it make money?
It earns by manufacturing medicines and selling them, and those sales have grown a lot — up about 76% over 2021-2025.
Beacon's business is simple to understand: it manufactures pharmaceutical products and earns money when it sells them. Revenue — the total value of everything it sold — is the engine of the company.
That engine has been growing steadily. Sales rose from about ৳712.1 crore in 2021 to ৳802.3 crore, ৳851.0 crore, ৳1,070 crore, and ৳1,254 crore in 2025 — an increase of about 76% across those five years. Rising sales suggest steady demand for what it makes.
Turning those sales into operating profit (what is left after the day-to-day costs of running the business) has been less smooth. Operating profit was ৳142.2 crore in 2021, dipped to ৳100.2 crore in 2023, then climbed to a five-year high of ৳239.9 crore in 2025. So the business is growing, but how much of each sale it keeps as profit has moved around.
Is it actually making money?
Sales grew strongly, but net profit was bumpy — it roughly halved in 2023, then bounced back to ৳94.7 crore in 2025.
The bottom-line profit tells a bumpy story. Net profit was ৳86.3 crore in 2021 and ৳93.5 crore in 2022, then fell sharply to ৳51.0 crore in 2023 and stayed low at ৳52.1 crore in 2024, before rebounding strongly to ৳94.7 crore in 2025.
Earnings per share — the profit split across each share — followed the same path: ৳3.74, ৳4.05, then down to ৳2.21 and ৳2.26, then back up to ৳4.1 in 2025. So the most recent year was one of its best, but the two years before it were weak.
Here is the key tension: over 2021-2025 sales jumped about 76%, yet net profit is only about 10% higher at the end than the start. The company sold much more but did not keep proportionally more as profit — a sign that rising costs (including the cost of its growing debt) ate into the gains during the middle years.
Is it financially safe?
Still more owners' money than debt, but borrowing has climbed steeply — total loans of about ৳1,008 crore now exceed twice its reserves, the main caveat.
Beacon funds itself with a mix of its own money (equity) and borrowed money (debt). The owners' money has grown to about ৳666.7 crore. Against that, borrowing has risen sharply: the debt-to-own-money ratio climbed from a very low 0.07 in 2021 to 0.48 in 2025, as total debt went from about ৳38.8 crore to ৳319.3 crore.
Looking at all its loans together, the company's total borrowings of roughly ৳1,008 crore are now more than twice its built-up reserves of about ৳435.7 crore. That is the clearest warning sign in the numbers — the company leaned heavily on borrowing to fund its expansion, and higher debt means higher interest bills and less room for error in a bad year.
Cash generation has been uneven, too. The cash actually produced by running the business was positive most years (৳108.2 crore in 2022, ৳160.0 crore in 2025) but turned negative in 2024 (-৳18.0 crore). Meanwhile cash on hand has slipped from ৳33.8 crore in 2021 to ৳22.8 crore in 2025. The strong 2025 cash figure is reassuring, but the swings show why the debt load matters.
How do we judge if it's fairly priced?
Judge the price by comparing it to how the share is usually priced, to similar companies, to the value of what it owns (about ৳28.86 per share), and to its dividend — the live box does the sums.
We do not put a price verdict in this report, because a share's fair price moves every day. Instead, here is the plain-words method used to judge whether the price is reasonable, and the live "value today" box beside this report does the actual sums using the current price.
Four simple comparisons are used. First, how the share has usually been priced against its own profit in the past. Second, how similar medicine companies are priced against their profit. Third, the value of what the company actually owns after its debts — its net asset value, about ৳28.86 per share at the end of 2025. Fourth, the income its dividend provides.
The durable inputs to keep in mind are that the company earned about ৳4.1 per share in its latest year and holds net assets of about ৳28.86 per share. Whether today's price is a bargain or not is shown live beside this report — it is not something we freeze into the text.
Value today
Looks cheapToday
৳110
Rough estimate
৳161
Based on its own past price levels, what similar companies trade at, the value of what it owns and the dividend it pays. · low confidence
- Its own usual price vs profit৳248
- Priced like similar companies (profit)৳119
- Its own usual price vs asset value৳199
- Based on the dividend it pays৳35.0
A rough, educational estimate from the figures we have — not a price target or advice.
Does it reward shareholders?
A dependable, rising cash dividend every year — 21% of face value (৳2.1 per share) in 2025 — using a bit over half of profit.
This is one of Beacon's stronger points. It has paid a cash dividend every year in the record: 15% of face value in 2021, 16% in 2022 and 2023, 20% in 2024, and 21% in 2025. In taka, that is ৳1.5, ৳1.6, ৳1.6, ৳2.0 and ৳2.1 per share — a steady, rising trend on shares with a face value of ৳10.
Importantly, these have all been cash dividends, with no bonus (stock) dividends that would split the pie into more shares. Cash in hand is the most straightforward reward for a shareholder.
The payout also looks affordable. In 2025 the company earned about ৳4.1 per share and paid out ৳2.1 of it — a little over half of its profit — keeping the rest inside the business. Paying only part of profit leaves a cushion, which is part of why the dividend has been able to keep rising.
What makes it special?
A growing, mid-sized pharma player competing with more profitable, established rivals like Square and Marico — its edge is steady growth, not dominance.
Beacon competes in a crowded field of established medicine and consumer-health companies, including well-known names such as Square Pharmaceuticals, Marico Bangladesh, Reckitt Benckiser, Kohinoor Chemical and ACME Laboratories.
Against them, Beacon's strengths are its scale (revenue of about ৳1,254 crore in 2025) and its growth — sales up about 76% over five years, and operating profit reaching a five-year high of ৳239.9 crore. That is a genuinely growing business.
But it is honest to say Beacon does not dominate. Several of these rivals earn more profit from each taka of the owners' money than Beacon does, while Beacon has had to borrow heavily to fund its own expansion. Its edge is momentum and a widening business, not the kind of pricing power or brand strength that lets the biggest players earn fat margins with little debt.
Why it could do well
Growing sales, a strong 2025 rebound, and a reliable rising cash dividend are the positives.
- Sales are growing steadily — revenue rose about 76% over 2021-2025, reaching ৳1,254 crore, showing solid demand for its products.
- A strong 2025 rebound — net profit jumped back to ৳94.7 crore and earnings to ৳4.1 per share after two weak years, and operating profit hit a five-year high of ৳239.9 crore.
- A dependable, rising cash dividend — paid every year and lifted from 15% to 21% of face value (৳1.5 to ৳2.1 per share), all in cash.
- Cash generation snapped back — the business produced ৳160.0 crore of operating cash in 2025 after a negative 2024, and the dividend uses only a bit over half of profit.
- Owners are aligned — sponsors and directors hold about 39.86% and institutions about 38.15%, so those close to the company have plenty at stake.
What could go wrong
Fast-rising debt, bumpy profits, and stiff competition are the real risks.
- Debt has climbed fast — the debt-to-own-money ratio went from 0.07 in 2021 to 0.48 in 2025, and total loans of about ৳1,008 crore now exceed twice the company's reserves of ৳435.7 crore.
- Profits are bumpy — net profit roughly halved to ৳51.0 crore in 2023 and stayed low in 2024 before recovering, so earnings can swing from year to year.
- Growth hasn't fully reached the bottom line — sales rose about 76% over 2021-2025 but net profit is only about 10% higher, as costs (including interest on the growing debt) ate into the gains.
- Cash can be lumpy — operating cash flow turned negative (-৳18.0 crore) in 2024 and cash on hand fell from ৳33.8 crore to ৳22.8 crore as the company expanded.
- Tough competition — larger, more established rivals such as Square and Marico earn more profit per taka of owners' money.
So, is it for you?
A growing pharma company with a reliable rising dividend — best for patient investors who can live with swinging profits and higher debt.
Beacon Pharmaceuticals is a growing medicine maker with two clear strengths: steadily rising sales and a dependable cash dividend that has increased every year. Its latest year (2025) was a strong one, with profit and cash generation both bouncing back.
The caveats are just as clear. Profits have been bumpy rather than steady, and the company has taken on a lot of debt to fund its growth — total loans are now more than twice its reserves. These are things a careful investor should keep an eye on.
In short, this suits a patient, long-term investor who wants a growing business with regular dividend income and can accept year-to-year swings and a heavier debt load. It is a weaker fit for someone who needs rock-steady profits or prefers a company with little or no borrowing. As always, whether the price is right today is shown live beside this report.
This is educational information, not investment advice. It is based on the company's reported financial figures and does not tell you to buy or sell. Always do your own research or consult a licensed adviser before investing.