Introduction
The process of reviewing and evaluating a company's financial statements (such as the statement of financial position, statement of changes in equity etc.), thereby gaining an understanding of the financial health of the company and enabling more effective decision making is generally known as financial statement analysis. Several techniques are commonly used as part of financial statement analysis including horizontal analysis, which compares two or more years of financial data in both dollar and percentage form; vertical analysis or common size analysis, where each category of accounts on the balance sheet and income statement is shown as a percentage of the total account; a ratio analysis, which calculates statistical relationships between data; DuPont analysis, to understand what drives a company’s ROE; trend, regression analysis and so on. Following these techniques enable the analysts to take a clear view of the particular company about its performance, position in the market, credibility of information provided in the prospectus, weighing the risks and threats against its competencies and capabilities, forecasting its potentials and overall evaluation of the company as a whole from different dimension. Companies those are awaiting to enter into the public market are supposed to assume greater responsibilities in a sense that, they are going to inject more assets, coming closer to the reach of general investors side by side falling under stringent restrictions and surveillance. That is why; their financial statement should be analyzed carefully. As a part of our task, we have selected an upcoming IPO issuing company- Orion Pharma Limited (OPL), a renowned company in the Pharmaceuticals sector of Bangladesh, for the purpose of analysis of financial statements.

Financial Analysis
For the purpose of evaluating financial statement data, we have