2009

ASSETS
Non-Current Assets
Property, Plant and Equipment - Carrying Value
Investment in Shares
Capital Work in Progress

3,324,211,447
2,889,104,937
262,285,884
172,820,626

Current Assets
Inventories
Accounts & Other Receivables
Advances, Deposits & Prepayments
Cash and Cash Equivalents

1,320,809,490
858,674,654
361,541,096
82,182,270
18,411,470

Total Assets

4,645,020,937

EQUITY AND LIABILITIES

Shareholders' Equity
Issued Share Capital
Revaluation Surplus on Property, Plant and Equipment
Fair Value loss on Investment in Shares
Retained Earnings
Non-Current Liabilities
Long Term Loan - Net-off Current Matuirity(Secured)
Long Term Loan (Unsecured)
Deferred Tax Liability

2,478,711,483
840,283,200
1,354,284,953
0
284,143,330
662,533,629
477,058,072
172,820,626
12,654,931

Current Liabilities
Short Term Loan from Banks (Secured)
Long Term Loan-Current Matuirity (Secured)
Creditors, Accruals and Other Payables
Income Tax Payable

1,503,775,825
917,603,854
386,928,629
101,895,079
97,348,263

Total Equity and Liabilities

4,645,020,937

Net Asset Value Per Share

29.5

2010

2011

2012

2013

3,489,126,921
2,886,465,234
262,285,884
340,375,803

5,536,817,925
4,493,055,461
225,870,721
817,891,743

5,323,600,351
4,384,003,402
121,705,206
817,891,743

5,163,868,663
4,284,727,821
61,221,686
817,919,156

1,636,600,076
845,195,056
477,473,540
278,773,841
35,157,639

1,617,231,951
891,674,750
587,933,889
112,190,532
25,432,780

1,796,412,804
845,059,407
853,413,145
81,930,381
16,009,871

1,710,385,576
912,642,408
674,987,355
108,267,477
14,488,336

5,125,726,997

7,154,049,876

7,120,013,155

6,874,254,239

2,731,958,854
966,325,680
1,354,284,953
0
411,348,221

4,499,760,423
1,111,274,530
2,953,318,420
0
435,167,473

4,544,462,049
1,277,965,700
2,966,690,015
-58,955,026
358,761,360

4,487,866,589
1,469,660,550
2,966,690,015
-103,748,918
155,264,942

928,724,372
429,143,129
485,689,185
13,892,058

1,005,382,500
396,579,272
598,837,779
9,965,449

803,483,989
296,189,631
498,837,779
8,456,579

629,397,933
321,383,411
301,584,151
6,430,371

1,465,043,771
955,808,744
243,718,941
166,416,040
99,100,046

1,648,906,953
1,147,673,708
91,818,692
291,823,065
117,591,488

1,772,067,117
1,183,795,749
143,242,382
445,028,986
0

1,756,989,717
964,471,449
322,692,983
469,825,285
0

5,125,726,997

7,154,049,876

7,120,013,155

6,874,254,239

28.27

40.49

35.56

30.54

Mean

Std. Dev.

Growth Rates
2009-10 2010-11

4,567,525,061
3,787,471,371

1,069,529,743
824,596,516

4.96%
-0.09%
0.00%
96.95%

58.69%
55.66%
-13.88%
140.29%

1,616,287,979

179,596,993

23.91%
-1.57%
32.07%
239.21%
90.96%

-1.18%
5.50%
23.13%
-59.76%
-27.66%

6,183,813,041

1,202,285,993

10.35%

39.57%

3,748,551,880

1,047,655,660

10.22%
15.00%
0.00%
#DIV/0!
44.77%

64.71%
15.00%
118.07%
#DIV/0!
5.79%

805,904,485

163,242,019

40.18%
-10.04%
181.04%
9.78%

8.25%
-7.59%
23.30%
-28.27%

1,629,356,677
1,033,870,701

141,251,511
122,327,991

-2.58%
4.16%
-37.01%
63.32%
1.80%

12.55%
20.07%
-62.33%
75.36%
18.66%

6,183,813,041

1,202,285,993

10.35%

39.57%

Mean GrowStd. Dev.

2011-12 2012-13

-3.85%
-2.43%
-46.12%
0.00%

-3.00%
-2.26%
-49.70%
0.00%

14.20%
12.72%
-27.42%

29.92%
28.65%
-36.57%

11.08%
-5.23%
45.15%
-26.97%
-37.05%

-4.79%
8.00%
-20.91%
32.15%
-9.50%

7.25%
1.67%
19.86%
46.16%
4.19%

13.02%
6.13%
28.64%
134.20%
58.97%

-0.48%

-3.45%

11.50%

19.63%

0.99%
15.00%
0.45%
#DIV/0!
-17.56%

-1.25%
15.00%
0.00%
75.98%
-56.72%

18.67%

31.09%

-20.08%
-25.31%
-16.70%
-15.14%

-21.67%
8.51%
-39.54%
-23.96%

1.67%

29.12%

7.47%
3.15%
56.01%
52.50%
-100.00%

-0.85%
-18.53%
125.28%
5.57%
#DIV/0!

4.15%

7.11%

-0.48%

-3.45%

11.50%

19.63%

2013
ASSETS
Non-Current Assets
Property, Plant and Equipment - Carrying Value
Investment in Shares
Capital Work in Progress

5,163,868,663
4,284,727,821
61,221,686
817,919,156

Current Assets
Inventories
Accounts & Other Receivables
Advances, Deposits & Prepayments
Cash and Cash Equivalents

1,710,385,576
912,642,408
674,987,355
108,267,477
14,488,336

Total Assets

6,874,254,239

EQUITY AND LIABILITIES

Shareholders' Equity
Issued Share Capital
Revaluation Surplus on Property, Plant and Equipment
Fair Value loss on Investment in Shares
Retained Earnings
Non-Current Liabilities
Long Term Loan - Net-off Current Matuirity(Secured)
Long Term Loan (Unsecured)
Deferred Tax Liability

4,487,866,589
1,469,660,550
2,966,690,015
-103,748,918
155,264,942
629,397,933
321,383,411
301,584,151
6,430,371

Current Liabilities
Short Term Loan from Banks (Secured)
Long Term Loan-Current Matuirity (Secured)
Creditors, Accruals and Other Payables
Income Tax Payable

1,756,989,717
964,471,449
322,692,983
469,825,285
0

Total Equity and Liabilities

6,874,254,239

Net Asset Value Per Share

30.54

2,014

5,088,556,688
4,209,745,084
60,892,448
817,919,156

-1.46%
-1.75%
-0.54%
0.00%

1,775,934,191
1,003,906,649
607,488,620
115,846,200
48,692,722

3.83%
10.00%
-10.00%
7.00%
236.08%

6,864,490,879

-0.14%

4,516,133,330
1,498,256,529
2,966,690,015
-104,078,156
155,264,942

0.63%
1.95%
0.00%
0.32%
0.00%

503,518,346
257,106,729
241,267,321
5,144,297

-20.00%
-20.00%
-20.00%
-20.00%

1,844,839,203
1,012,695,021
338,827,632
493,316,549
6,495,951

5.00%
5.00%
5.00%
5.00%

6,864,490,879

-0.14%

28595979

0.00

S.d.
revenue
gp margin
opt margin
finance cost
income tax expenses

7%
31%
24%
7%
37.50%

4.00%
7.00%
5.00%
4.00%
0.00%

ppe
CA
AR

-1.75%
5%
-10%

1.00%
3.00%
6.00%

-20%
5.00%
10%

7.00%
3.00%
5.00%

Non CL
CL
Inventory

Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Administrative Expenses
Selling and Distribution Expenses
Excahnge Loss
Profit from Operations
Loss on Sale of Shares
Finance Cost
Profit/(Loss) before contribution to WPPF
Contribution to Workers' Profit Participation / Welfare Funds
Net (Loss) / Profit before Tax

2009
1,695,710,571
-1,136,510,173
559,200,398
-87,971,260
-38,302,865
-49,668,395
0
471,229,138
0
-209,583,156
261,645,982
-12,459,333
249,186,649

Income Tax Income/( Expense)

Net (Loss) / Profit After Tax for the year
Other Comprehensive Income:
Revaluation Surplus on Property, Plant and Equipments
Fair Value Loss on Investment in Shares

-76,814,715
172,371,934

Total Comprehensive (Loss) / Profit for the year

172,371,934

Earning per share Tk.

gross p margin
opt margin

Income tax %

0
0

1.78

0.3297734929
0.2778947929

30.8261760043

2010
1,926,745,719
-1,267,648,737
659,096,982

2011
1,901,444,562
-1,248,024,942
653,419,620

2012
1,942,350,752
-1,268,312,998
674,037,754

2013
1,704,567,234
-1,226,896,190
477,671,044

-88,993,320
-38,611,923
-50,381,397
0
570,103,662

-121,100,868
-61,433,037
-49,547,627
-10,120,204
532,318,752

-105,872,312
-54,107,127
-51,765,185
0
568,165,442

-107,644,738
-56,577,523
-51,067,215
0
370,026,306

0
-249,775,873
320,327,789
-15,253,704
305,074,085

0
-306,604,938
225,713,814
-10,748,277
214,965,537

-19,649,764
-364,625,228
183,890,450
-8,756,688
175,133,762

-6,191,823
-392,906,851
-29,072,368
0
-29,072,368

-51,826,714
253,247,371

-46,197,435
168,768,102

-84,848,705
90,285,057

17,270,800
-11,801,568

0
0

1,612,405,062
-13,371,595

0
-45,583,431

0
-44,793,892

253,247,371

1,767,801,569

44,701,626

-56,595,460

2.62

1.52

0.61

-0.08

0.3420778235
0.2958894141

0.3436437922
0.2799549157

0.3470216454
0.2925143368

0.2802300986
0.2170793258

cogs %
16.9882387749

21.4906238668

0.0257444755
48.4479428929

59.4062375655

2,014
1,823,886,940
1,258,481,989
565,404,952

0
0

Mean
Std. Dev.
1,834,163,768 123,254,914
-1,229,478,608
54,678,227
604,685,160
84,182,726

Growth Rates
2009-10 2010-11 2011-12 2012-13
13.62%
-1.31%
2.15%
-12.24%
11.54%
-1.55%
1.63%
-3.27%
17.86%
-0.86%
3.16%
-29.13%

-102,316,500

13,938,969

1.16%

36.08%

-12.58%

1.67%

502,368,660

84,110,676

20.98%

-6.63%

6.73%

-34.87%

-304,699,209

76,548,978

19.18%

22.75%

18.92%

7.76%

183,057,533

127,809,527

22.43%

-29.54%

-18.53%

-116.60%

100,085,722

-32.53%
46.92%

-10.86%
-33.36%

83.67%
-46.50%

-120.35%
-113.07%

240.90%

-1.73%

134,574,179

436,305,408

0.3285493705
0.2726665571

753,717,112

46.92%

598.05%

-97.47%

-226.61%

3.73%
6.48%

0.46%
-5.39%

0.98%
4.49%

-19.25%
-25.79%

MEAN growStd. Deviation

0.56%
10.66%
2.09%
6.62%
-2.24%
19.65%
6.58%

20.74%

-3.45%

23.79%

17.15%

6.50%

-35.56%

58.47%

-36.50%

65.66%

80.22%

362.85%

Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Administrative Expenses
Selling and Distribution Expenses
Excahnge Loss
Profit from Operations
Loss on Sale of Shares
Finance Cost
Profit/(Loss) before contribution to WPPF
Contribution to Workers' Profit Participation / Welfare Funds
Net (Loss) / Profit before Tax
Income Tax Income/( Expense)
Net (Loss) / Profit After Tax for the year
Other Comprehensive Income:
Revaluation Surplus on Property, Plant and Equipments
Fair Value Loss on Investment in Shares
Total Comprehensive (Loss) / Profit for the year
Earning per share Tk.

2013
1,704,567,234
-1,226,896,190
477,671,044

2,014
1,823,886,940
-1,258,481,989
565,404,952

-107,644,738
-56,577,523
-51,067,215
0
370,026,306

-127,672,086

437,732,866

-6,191,823
-392,906,851
-29,072,368
0
-29,072,368

-420,410,331
17,322,535
0
17,322,535

17,270,800
-11,801,568

-6,495,951
10,826,584

0
-44,793,892

0
-329,238

-56,595,460

10,497,346

-0.08

2009
Cash Flows From Operating Activities :
Collections from turnover and other income
Payments for costs, expenses & others
Interest Paid
Short Term Loan (decreased)
Income-Tax paid and /or deducted at sources
Net cash Generated from operating activities

1,582,158,075
-1,142,884,344
-200,313,511
0
-37,495,700
201,464,520

Cash Flows From Investing Activities:

Property, Plant and Equipment acquired
Disposal of Asset
Sale of Shares
Capital Work in Progress

-12,406,099
0
0
-172,820,626

Net cash (used in) / generated from investing activities

-185,226,725

Cash Flows From Financing Activities:

Long Term Loan increased/(decreased)
Short Term Loan increased
Decrease in Loan
Dividend Paid

13,885,549
51,459,749
0
-70,023,600

Net cash used in financing activities

-4,678,302

Increase/(Decrease) in Cash and Cash Equivalents

Cash and Cash Equivalents at the beginning of the year
Cash and Cash Equivalents at the end of the year

11,559,493
6,851,977
18,411,470

Net Operating Cash Flow Per Share

2.4

2010

2011

2012

2013

1,810,813,275 1,774,197,732 1,676,871,496 1,882,993,023

-1,417,186,680 -1,089,611,868 -1,124,027,465 -1,213,006,959
-197,793,786
-221,035,344
-402,474,727
-402,285,732
0
0
-1,900,347
-143,939,852
-66,573,115
-26,306,168
-71,152,032
-47,290,057
129,259,694

437,244,352

77,316,925

76,470,423

-62,727,624
500,000
0
-167,555,177

-102,926,087
0
23,043,568
-477,515,940

-14,924,231
0
39,127,960
0

-19,468,655
0
9,497,805
-27,413

-229,782,801

-557,398,459

24,203,729

-9,998,263

79,064,386
38,204,890
0
0

-81,435,716
191,864,964
0
0

0
0
-110,943,563
0

0
0
-67,993,695
0

117,269,276

110,429,248

-110,943,563

-67,993,695

16,746,169
18,411,470
35,157,639

-9,724,859
35,157,639
25,432,780

-9,422,909
25,432,780
16,009,871

-1,521,535
16,009,871
14,488,336

1.33

3.93

0.61

0.52

Growth Rates
2009-10
2010-11

2011-12

2012-13

-35.84%

238.27%

-82.32%

-1.09%

405.62%

64.08%

-85.50%

30.45%

69.80%

-75.73%

24.05%

142.58%

-104.34%

-141.31%

-2606.66%

-5.83%

-200.47%

-38.71%

44.87%

-158.07%

-3.10%

-83.85%

Cash Flow from Operating Activities

Net Income
Depreciation
Fair Value Loss on Investment in Shares
Cash Flow from Operating Assets
Changes in Inventories
Changes in Accounts & Other Receivables
Change in Advances, Deposits & Prepayments

10,497,346
11,273,443
329,238

-91,264,241
67,498,736
-7,578,723

Cash Flow from Operating Liability

Changes in Short Term Loan from Banks (Secured)
Changes in Long Term Loan-Current Matuirity (Secured)
Changes in Creditors, Accruals and Other Payables
Changes in Income Tax Payable

48,223,572
16,134,649
23,491,264
6,495,951

Net Cash Flow from Operating Activities

85,101,236

Cash Flow from Investing Activities

Changes in Property, Plant and Equipment

74,982,737

Net Cash Flow from Investing Activities

74,982,737

Cash Flow from Financing Activities

Changes in Non-Current Liability

-125,879,587

Net Cash Flow from Financing Activities

Change in Cash
Beginning Cash (Dec 31, 2013)
Ending Cash (Dec 31, 2014)

-125,879,587
34,204,386
14,488,336
48,692,722