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Serial

No.

Subject Matter

1 APPLICATION OF FUNDS:
Fixed Assets - at cost
Less: Accumulated Depreciation
Net non-current assets
Investment
Capital Work-in-Progress
Total non-current assets
2 CURRENT ASSETS
Inventories
Accounts receivables
Due from affiliated company
Advances, deposits and pre-payments
Cash and Bank balances
Total Current Assets
Total assets
3 CURRENT LIABILITIES:
Trade creditors- subsidiary
Short term liabilities
Liabilities for expenses
Advance against sales
Current portion of Syndicated Term Loan (Long Term Loan)
Liability against Share Application Money
Provision for Income Tax
Provision for WPPF
Other Liabilities
Total Current Liabilities
4 SOURCES OF FUNDS:
Shareholders' funds:
Share Capital
Less: Accumulated Loss
Syndicated Term Loan (Long term loan)
Total Equity
Total liabilities and equity

Notes
On

7
5

8
9
10
11
12

15
16
17
18
19
20
21
22

13

14

Figures As At
31.12.2011

Figures As At
31.12.2010

4,526,023,580
(692,703,783)
3,833,319,797
1,045,000,000
179,256,651
5,057,576,448

Figures As At
31.12.2009

4,315,018,100
(502,020,346)
3,812,997,754
1,045,000,000
10,210,801
4,868,208,555

6,452,929,268
3,438,356,670
3,298,025,756
2,823,948,039
539,260,326
16,552,520,059
21,610,096,507

3,649,002,576
846,869,584
1,779,420,958
911,966,595
178,629,227
7,365,888,940
12,234,097,495

2,634,260,710
14,002,198,271
125,085,018
225,388,457
597,401,002
7,901,815
12,872,260
50,637,933
29,711,058
17,736,310,918

945,009,702
7,020,143,339
81,579,348
311,952,056
468,758,657
8,026,815

3,255,000,000
(280,919,354)
872,704,943
2,975,080,646
21,610,096,507

50,930,202
15,198,734
8,901,598,853

2,712,500,000
(577,624,404)
1,197,623,046
2,134,875,596
12,234,097,495

3,884,923,821
(316,428,223)
3,568,495,598
1,655,150
3,570,150,748

3,303,134,020
762,047,139
893,362,894
1,178,434,542
188,235,147
6,325,213,742
9,895,364,490

7,272,573,290
67,127,022
348,124,235
415,346,724
8,581,826
5,000
30,215,223
22,145,074
8,164,118,394

1,450,000,000
(1,325,010,389)
124,989,611
1,606,256,485
1,731,246,096
9,895,364,490

Figures As At
31.12.2008

Percentage change in 2009

3,714,156,022
(134,212,754)
3,579,943,268

4.60%
135.77%
-0.32%
#DIV/0!
#DIV/0!

3,579,943,268

-0.27%
#DIV/0!
#DIV/0!

2,615,913,391
377,728,509
387,356,311
307,082,700
1,439,357,882
5,127,438,793
8,707,382,061

26.27%
101.74%
130.63%
283.75%
-86.92%
23.36%
13.64%
#DIV/0!
#DIV/0!
#DIV/0!

5,721,109,289
48,614,146
46,548,082
370,344,383
960,549,736

27.12%
38.08%
647.88%
12.15%
-99.11%
#DIV/0!
#DIV/0!

15,742,045
7,162,907,681

40.67%
13.98%
#DIV/0!
#DIV/0!
#DIV/0!

1,450,000,000
1,899,094,620
(449,094,620)
1,993,569,000
1,544,474,380
8,707,382,061

0.00%
-169.77%
-127.83%
-19.43%
12.09%
13.64%

Percentage change in 2010

Percentage change in 2011

11.07%
58.65%
6.85%

4.89%
37.98%
0.53%
0.00%
1655.56%
3.89%

#DIV/0!
516.91%
36.36%
#DIV/0!
#DIV/0!

#DIV/0!
#DIV/0!
10.47%
11.13%
99.18%
-22.61%
-5.10%
16.45%
23.63%

#DIV/0!
#DIV/0!
#DIV/0!

76.84%
306.01%
85.34%
209.65%
201.89%
124.72%
76.64%
#DIV/0!
#DIV/0!

-3.47%
21.53%
-10.39%
12.86%
-6.47%
-100.00%
68.56%
-31.37%
9.03%
#DIV/0!
#DIV/0!
#DIV/0!

178.75%
99.46%
53.33%
-27.75%
27.44%
-1.56%
#DIV/0!
-0.57%
95.48%
99.25%
#DIV/0!
#DIV/0!
#DIV/0!

87.07%
-56.41%
-100.00%
-25.44%
23.31%
23.63%

20.00%
-51.37%
#DIV/0!
-27.13%
39.36%
76.64%

Vertical analysis of 2009

Vertical analysis of 2010

39.26%
-3.20%
36.06%
0.00%
0.02%
36.08%
0.00%
0.00%
33.38%
7.70%
9.03%
11.91%
1.90%
63.92%
100.00%
0.00%
0.00%
0.00%
73.49%
0.68%
3.52%
4.20%
0.09%
0.00%
0.31%
0.22%
82.50%
0.00%
0.00%
0.00%
14.65%
-13.39%
1.26%
16.23%
17.50%
100.00%

35%
-4%
31%
9%
0%
40%
0%
0%
30%
7%
15%
7%
1%
60%
100%
0%
0%
8%
57%
1%
3%
4%
0%
0%
0%
0%
73%
0%
0%
0%
22%
-5%
0%
10%
17%
100%

Vertical analysis of 2011

21%
-3%
18%
5%
1%
23%
0%
0%
30%
16%
15%
13%
2%
77%
100%
0%
0%
12%
65%
1%
1%
3%
0%
0%
0%
0%
82%
0%
0%
0%
15%
-1%
0%
4%
14%
100%

Serial
No

Details

Notes
No

Figures As At
31.12.2011

Revenue
Less: Cost of goods sold
Gross Profit/(Loss)

24
25

31,234,710,327
(29,320,135,355)
1,914,574,972

Selling and distribution costs


Administrative costs

26
27

Trading Profit/(Loss)
Add: Other income
Results from operating activities

28

(356,778,132)
(188,841,722)
(545,619,854)
1,368,955,118
740,712
1,369,695,830

Finance costs
Finance income
Share issue expenses
Net profit before tax and WPPF and Welfare Fund
Contribution to WPPF and Welfare fund
Net Profit before income tax

29
30

(403,745,379)
46,808,218
(356,937,161)
1,012,758,669
(50,637,933)
962,120,735

Income tax expenses:


Current tax:
Current year
Previous year
Net profit after tax for the year
Other comprehensive income

(122,915,685)
839,205,050
839,205,050

Earnings per share:


Basic earnings per share

31

Figures As At
31.12.2010

Figures As At
31.12.2009

Figures As At
31.12.2008

22,007,682,247
(20,077,963,771)
1,929,718,476

15,843,586,337
(14,260,296,021)
1,583,290,316

5,483,534,721
6,794,902,299
(1,311,367,578)

(229,990,861)
(149,192,340)
(379,183,201)
1,550,535,275
1,002,724
1,551,537,999

(134,073,279)
(82,846,763)
(215,264,042)
1,366,370,274
678,716
1,367,048,990

77,173,729
38,428,537
(115,602,266)
(1,426,969,844)
59,727,771
(1,367,242,073)

(534,730,126)
1,796,175

(515,362,252)

(532,933,951)
1,018,604,048

(769,713,119)
8,359,685
(1,391,102)
(762,744,536)
604,304,454

(16,490,295)
(531,852,547)
(1,899,094,620)

(50,930,202)
967,673,846

(30,215,223)
574,089,231

(1,899,094,620)

(493,948)
(2,293,913)
(2,787,861)
964,885,985

(5,000)
(5,000)
574,084,231

(1,899,094,620)

964,885,985

574,084,231

(1,899,094,620)

53.12

34.43

(153)

Percentage change in 2009

Percentage change in 2010

189%
-310%
-221%
#DIV/0!

39%
41%
22%
#DIV/0!

-274%
-316%
86%
-196%
-99%
-200%
#DIV/0!
#DIV/0!

72%
80%
76%
13%
48%
13%
#DIV/0!
#DIV/0!

49%

-31%
-79%
-100%
-30%
69%

#DIV/0!
-92%
43%
-132%
#DIV/0!
#DIV/0!

#DIV/0!
69%
69%

-130%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!

#DIV/0!
#DIV/0!
#DIV/0!
9779%
#DIV/0!
55657%
68%

-130%
#DIV/0!

#DIV/0!
-130%

#DIV/0!

68%
#DIV/0!

-123%

54%

Percentage change in 2011

Vertical analysis 2009

42%
45%
-78%
55.13%
26.58%
43.89%
-11.71%
-26.13%
-11.72%
#DIV/0!
#DIV/0!
-24.50%
2505.99%
#DIV/0!
-33.02%
-0.57%
#DIV/0!
-0.57%
-0.57%
#DIV/0!
#DIV/0!
#DIV/0!
-100.00%
-100.00%
4308.96%
-13.03%
#DIV/0!
-13.03%
#DIV/0!
-41.64%

100%
-90%
10%
0%
-1%
-1%
-1%
9%
0%
9%
0%
0%
-5%
0%
0%
-5%
4%
0%
0%
4%
0%
0%
0%
0%
0%
0%
4%
0%
4%
0%
0%

Vertical analysis of 2010

Vertical analysis of 2011

100.00%
-91.23%
8.77%
0.00%
-1.05%
-0.68%
-1.72%
7.05%
0.00%
7.05%
0.00%
0.00%
-2.43%
0.01%
0.00%
-2.42%
4.63%
0.00%
-0.23%
4.40%
0.00%
0.00%
0.00%
0.00%
-0.01%
-0.01%
4.38%
0.00%
4.38%
0.00%
0.00%

100%
-94%
6%
0%
-1%
-1%
-2%
4%
0%
4%
0%
0%
-1%
0%
0%
-1%
3%
0%
0%
3%
0%
0%
0%
0%
0%
0%
3%
0%
3%
0%
0%

Details

Balance at 01 January 2008


Ordinary Shares issued during the year 2008
Net loss after tax for the period
Balance as at 31 December 2008

Share Capital
Tk
568,125,000
881,875,000
1,450,000,000

Balance at 01 January 2009


Net Profit after tax for the year 2009
Balance as at 31 December 2009

1,450,000,000

Balance as at 01 January 2010


Issue of Bonus Share during 2010
Issue of Ordinary Share on acqusition of BISCO
Net profit after tax for the year 2010
Balance as at 21 December 2010

1,450,000,000
217,500,000
1,045,000,000

Balance as at 01 January 2011


Issue of Bonus Share during 2011
Net Profit after tax for the year 2011
Balance as at 31 December 2011

2,712,500,000
542,500,000

1,450,000,000

2,712,500,000

3,255,000,000

Share Money Deposit


Tk

Accumulated Loss
Tk

Total
Tk

675,860,000
(675,860,000)
(1,899,094,620)
(1,899,094,620)

1,243,985,000
206,015,000
(1,899,094,620)
(449,094,620)

(1,899,094,620)
574,084,231
(1,325,010,389)

(449,094,620)
574,084,231
124,989,611

(1,325,010,389)
217,500,000

124,989,611

964,885,985
(577,624,404)
(577,624,404)
(542,500,000)
839,205,050
(280,919,354)

1,045,000,000
964,885,985
2,134,875,596
2,134,875,596
839,205,050
2,974,080,646

Details

OPERATING ACTIVITIES:
Paid against revenue expenditure
Receipts from customers for sales
Paid to suppliers against procurement of raw material and finished goods
Paid to suppliers against procurement of consumables
Advance received against sales
Advances made
Payment for share issue expenses
Preliminary expenses
Security Deposits
VAT Paid
Pre-payments
Receipt against other income
Payment of interest
Short term loan paid to Bangladesh Steel Re-Rolling Mills Ltd-net
Income Tax Paid
Net cash used in Operating Activities

INVESTING ACTIVITIES:
Acquisition of Fixed assets
Disposal of fixed assets
Capital Work-in-progress
Net cash used in Investing Activities

FINANCING ACTIVITIES:
Short term loan paid to group companies
Term Loan- BMRE
Share issued during the year
Repayment/Receipt of Syndicated Term Loan
Short term loan received
Share application money refund/receipt
Net cash provided by Financing Activities
Total (a+b+c)
Opening cash and bank balances
Closing cash and bank balances

Figures as at
31.12.2011

Figures as at
31.12.2010

Figures as at
31.12.2009

(808,132,671)
28,334,151,540

(648,524,617)
21,564,972,420

(585,221,668)
15,412,719,625

(28,536,511,433)
(632,842,035)
225,388,457
(2,708,931,694)

(17,453,808,223)
(469,417,526)
311,952,056
(806,084,550)

(13,838,944,385)
(237,354,349)
348,124,235
(1,108,627,971)
(1,391,102)

(790,325)
(3,509,171)

40,000
(1,678,230)

47,560,010
(480,770,785)
(116,528,124)
(4,680,316,231)

2,943,209
(648,891,703)
(771,896,487)
(41,792,742)
1,037,813,607

(23,633,518)
(3,151,346)
(2,477,544)
9,038,401
(822,966,545)
(452,753,157)
(29,246,379)
(1,335,885,703)

(213,905,995)
2,570,000
(169,045,850)
(380,381,845)

(431,792,408)
1,135,000
(8,555,651)
(439,213,059)

(1,180,755,654)
258,094,904

(771,896,487)
56,224,000

(454,370,662)
6,799,085,587
(125,000)
5,421,929,175

(411,445,506)
(252,429,951)
(555,011)
(608,206,468)

(342,310,174)
1,551,464,001
(951,967,910)
257,185,917

360,631,099

(9,605,920)

(1,251,122,735)

178,629,227
539,260,326
360,631,099

188,235,147
178,629,227
(9,605,920)

1,439,357,882
188,235,147
(1,251,122,735)

(170,767,799)
(1,655,150)
(172,422,949)

Figures as at
31.12.2008

(462,181,919)
5,105,806,212
(8,998,726,972)
(55,469,507)
46,548,082
(178,462,001)
(16,490,295)
(302,846)
(557,461)
(923,627)
(2,454,334)
32,787,771
(407,314,724)
(380,785,462)
(9,406,694)
(5,327,933,777)

(467,949,892)

(467,949,892)

206,015,000
339,455,957
5,721,109,289
960,549,736
7,227,129,982
1,431,246,313
8,111,569
1,439,357,882
1,431,246,313