#l:bsrm. Bangladesh Steel Re-Rolling Mills Limited and its subisidiary. Consolidated and Separate Financial Statements (un audited)

Transcription

1 i6i #l:bsrm \t building a safen natin Bangladesh Steel Re-Rlling Mills Limited and its subisidiary Cnslidated and Separate Financial Statements (un audited) As at and fr the quarter ended 30 September, 20L8 Bangladesh Steel Re-Rlling Mills Limited Crprate Office: Ali Mansin, , Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax '101, mail@bsrm.cm; Website: Factry : Steel Melting Wrks : 78179, asirabad l/a, Baizid Bstami Rad, Chittagng; Phne: , ; Fax Rllingmiil: , asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

2 In Taka Bangladesh Steel Re-Rlling Mills Limited and its subsidiary Cnslidated statement f financial psitin fun-audited) 30 September 20t8 BSRM..tr& --=.=^ -? t buildinqa safernatin 30 June 2018 ASSETS n-current assets Prperty, plant and equipment Intangible assets Investment in assciate Other investments ,539,001,882 3A,216,3LL 4,L38,233,515 L15,O27,639 3L,736,B77,702 39,762,082 3,994,597,901 t22,t90,354 n-current assets 35,830,479,347 35,893,428,038 Shrt term investment Inventries Trade and ther receivables Current accunt with related cmpanies Advances and depsits Cash and cash equivalents ,475,19O,583 30,253,45A,A20 9,612,Ogg,BLO 2,338,911,390 4,799,702, ,962,243 L,367,141,761 23,438,884,798 8,L93,L43,601 2,576,51,4,730 4,348,L60, ,433,t46 Current assets 49,279,2L5,55t 40,703,277,970 Equity Share capital Share premium General reserve Revaluatin reserve Retained earnings t2.00 2,146,O74, ,97O,25O 30,170,818 3,964,413,592 7,347,104,731 2,t46,074, ,970,250 30,1 70,8 1B 3,974,789,370 6,962,742,079 12% Cnvertible cupn bnd-equity cmpnent 45,661,142 45,661,142 Equity attributable t wners f the cmpany 14,4s,3gs,4L5 t3,67r,408,540 n- cntrllins interests 3,451,106,888 3,392,628,051 Ttal equity L7,496,5O2,303 L7,064,036,592 Liabilities Lng term brrwings- nn current prtin 7,655,196,003 8,305,438,361 Defined benefit bligatins - Gratuity 245,22A,9L7 226,378,396 Deferred tax liabiliw ,121.,2A9,445 2,965,622,218 n-current liabilities tl,zt.7t4.365 L1,497,438,976 Trade payables Shrt term brrwings Current accunt with related cmpanies Advance against sales Liabilities fr expenses Current tax liability Prvisin fr WPPF and Welfare Fund Other liabilities i4.00 3,534,075,151 44,730,248,155 5,049,9O4, ,927,O41 L,421,913, ,379, ,862, ,L67,813 t,2l6,553,373 39,794,968,536 4,919,t72,51,5 320,L2L,94L 958,520, ,888, ,1,25,1,56 266,880,672 Current liabilities s6,59l,478,230 48,035,230,440 Ttal liabilities 67,6L3,L92 59,53 Ttal 85,1 76,596,706, [?-4,, ncial Officer Ma Chattgram, 10 vember,?olb, Bangladesh Steel Re-Rlling Mills Limited Crprate Otfice:Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. PhBlf8l's+Sdeb$fl'ffi4UEl$f6:658982'i6f5#2y537i58;PJJe \"8tr-O$fEt 0t t, mail@bsrm.cm; Website: Factry: Steel MeltingWrks:78/79, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: ,683536; Fax: Rlling Mill : , asirabad lla,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

3 -& t'-. BSRM '- \3 I building a saf P natin Bangladesh Steel Re-Rlling Mills Limited and its subsidiary Cnslidated Statement f Prfit r Lss and Other Cmprehensive Incme In Taka Iulv'18- Sent'18 lulv'17- Sent'17 Revenue Cst f sales Grss prfit Selling and distributin csts Administrative csts 2O,0s7,525,696 (18,336,082,305) L,72L,443,381 (L75,153,491) (t12,637,382) L3,347,809,855 (L2,77 4,888,043) 7,772,927,8',J.2 [108,158,730) (1L2,4Le,2e5) Other perating incme 6,O49,L7O 7,034,071 Onerating nrfit L.439,701.67A 959,377,858 Finance csts Finance incme (997,673,9\4) 133,963,44L (7e3,071,473) 46,644, ,99L,206 2t2,950,732 37,735,569 34,363,423 Prfit befre WPPF and Welfare Fund 613,726, ,314,755 Cntributin t WPPF and Welfare Fund Share f (lss)/prfit f equity accunted investee, net ftax (3O,737,635) L43,635,6L4 (72,365,708) t73,847,035 Prfit befre tax 726,624, ,795,482 Incme tax expense: Current year (138,49t,814) (24,220,623) Previus year Deferred tax (tss,lzs,;dl $7s,006j40) Ttal incme tax expense (297,6t7,6331 (203,226,963) Prfit after tax +29,OO7,120 r45,568,520 Other nslve tncme Tta ncme 429,OO7,120 Prfit attributable t: Owners f the cmpany 37O,528, ,086,799 n-cntrlling interests 58,478,837 (19,518,279) 429,007, ,568,520 Ttal cmprehensive incme attributable t: Owners f the cmpany 37O,528, ,086,799 n-cntrlling interests 58,478,837 [19,518,279) 429,OO7,L20 745,568,520 Earnings per share Chief Fingleial Officer Chattgram, 10 vember, 2O18. Bangladesh Steel Re-Rlling Mills Limited Crprate 0tfice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax: , mail@bsrm.cm; Website: Factry : Steel MeltingWrkstTS/79, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: , ; Fax: RllingMill t , asirabad lla,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

4 d9 IE L ta t r! 0) E ED i, & ).) (t (, u0 (l, tr t! R, a E' ) al 6) (! q! (! (J l a= {ii E >c (,C.l-,u? 600 \ mmh rr* i flt +6 * ' FJ \Od h - H c- h r6 :-'\ \@ at c. - q \0n c-i + dr.i \h sl a fil 3 I 6 l q.l ' -l HI E Rl H. \gl rrt c-l 6 Gi l -l n [ 3 bl +l -l d =l sl r El E O O m + dt ' + * m p- t D - s' 4 tmm m 4.BsRM --$t building a safen natin E 0{ d gt!6 m 6E EE +a\ Ord OM F:d' hh \r - vi ui ui iil60 OHil Hl s E] R +l S l m-l 6 \' *l M n: ' m-d i do 00 D $d A 6-.i +\ lj $ Hl E il S I l -l ri e ' m _16 sl E- Rl S Sl B = 6a fie T r! a 6(, L(! F h, q n d.1 '\ O dvt h\ q.h!: Pg! y! i= e = L6)<Q - >, e? 6 0 ==Ydr =+i ;E Y g F '6; F = i P8 i x ll rc.2 c ){ ;b-='g E I e c3 6 : 6LO;U m F! i z. El $l E E Hl h :l. =l sl EI O. E=I S.11 si l tc I 1.9 l6 r.l '6 Ht f;.; EI :E El!r gl r 0cE9 l E = ql fl K"E S l -Z\H :E* g -l u Il - l -Eh F'6 ; = El I H8 il reg EAI 6 F! L d L d G q z L 9 ste de (J j L! 2 6 L E! r! U (-) a c b 5Z & E fi q rp s G 4 E Ic aa I 6 2!. 6 D t E, 9" F t Bangladesh Steel Re-Rlling Mills Limited Crprate 0ffice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax: '101, mail@bsrm.cm; Website: Factry : Steel MeltingWtksiTS/79, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: , ; Fax: RllingMill : , asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax: n g.9 {.

5 l:1 5rus l 'e## I -... :: BSRM building a safer natin In Tak Bangladesh Steel Re-Rlling Mills Limited and its subsidiary Cnslidated statement f cash flws fun audited) Fr the perid Julv'l8- Sept'l8 July'17- Sept'17 a. Cash flws frm perating activities Cash receipts frm custmers Cash payments t suppliers and emplyees Incme tax paid 18,744,527,O79 12,884,666,346 (21,887,319,57 6) (20,996,899,199) (276,305,481) [83,202,577) Interest paid {937,726,5531 (225,L42,t69) et cash frm peratins activities (4,356,824,531) (8,420,577,600) Cash flws frm investing activities Acquisitin f Prperty, plant and equipment &CWIP Dispsal f Prperty, plant and equipment Increase/ [Decrease) in shrt term investments Other Incme (2O7,119,5_97) (100,886,709) (332,080,760) 15,000 (453,896,813) 28,586,423 et cash used in investing activities (308,006,306) (757,376,751) Cash flws frm financing activities (Repayments) / Receipts f lng term Lans Shrt Term Brrwings/repayment Lan tl frm Related Cmpanies (568,278,235) 4,885,2O3, (801,818,203) 4,640,33t,382 5,753,498,295 et cash frm financinq activities 4,685,359,931 8,992,011,474 d. et (decrease)/ increase in cash and cash equivalents (a+b+c) 20,529,O94 (1.85,942,277) e. Opening cash and cash equivalents 779,433, ,785,930 f. Clsing cash and cash equivalents (d+e) 799,962, ,843,654 Cash flw share Q.sr. Chief Financial Officer ny Sdcretary Chattgram, 10 vember, Bangladesh Steel Re-Rlling Mills Limited Crprate 0tfice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. ''Hij8ru1"fEBt$?:DU'8AUbf-1bl'J5ffilt?U$2 63??stl'fl"*9Yt$-ffgr -r r 01, E-mait: mait@bsrm.cm; website: Factry : Steel MeltingWrks:78/79, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: , ; Fax: BllingMill t , asirabad lla,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax: PM11/8/2018

6 In Taka. _. BSRM 1*$. '\\ t buildinqa safennatin Bangladesh Steel Re-Rlling Mills Limited Separate statement f financial psitin 30 September 20L8 30 fune 20t8 ASSETS Prperty, plant and equipment Intangible assets lnvestment in subsidiary and assciate Other investments ,798,638,112 20,95L,225 6,957,O44,226 1L5,O27,639 L2,958,556, ,797,067 6,766,652,548 L22,190,354 n-current assets 19,891,66L,202 19,869,1.95,986 Shrt term investment Inventries Trade and ther receivables Current accunt with related cmpanies Advances and depsits 363,s23 L6,33O,949,O ,897,961,726 1,519,100,545 2,227,202,390 50,220,680 73,442,320,054 2,356,392,380 L,537,959,598 1,983,627,504 Cash and cash equivalents 791,061, J983,780 current assets 23,766,639,208 20'075'503'997 Equity Share capital ,L46,O74,88O Share premium sl,-,97,25 General reserve 30,170,818 Revaluatin reserve 3,964,4t3,592 Retained earnings 7,347,LO4, / Cnvertible cupn bnd-equiw cmpnent 45,66L,142 2,L46,074, ,970,250 30,170,818 3,974,789,368 6,962,742,081 45,66L,742 Ttal euiw l4,+s,395,+ls 73,677,408,539 Liabilities Lng term brrwings- nn current prtin Defined benefit bligatins - Gratuity 5,227,224,L03 2O7,767,552 5,442,343, ,1.62,000 1,323,809,318 Deferred tax liabilitv ,380,063,860 n-current liabilities 6,815,055,515 6,962,375,027 Trade payables Shrt term brrwings Current prtin f lng term bruwings Current accunt with related cmpanies Advance against sales Liabilities fr expenses Current tax liability Prvisin fr WPPF and Welfare Fund Other liabilities Current liabilities ,821,s37,631 9,412,768,262 2,279,593,188 5,O29,225, ,690, ,s84,753 37O,LL9,474 1.,1t6,279,307 9,742,889,798 2,210,092,757 4,979,772, ,873, ,572, ,624, ,801, ,677, ,528, ,793,610 22,797,849,480 L9'3L0'976,4L7 et Asset Value Per Share Chief.Fina n cial O ffice r Chattgram, 10 vember, 2O18. *Bangladesh Steel Re-Rlling Mills Limited Grrate 0tlice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh' D':\A$i$ehd J'R@aea.f{'ZaUU'ii'IfU"e'gEt"0E,ntUlgZ:Sailgtf H*iitfe i.r -uir r, r-mair: mair@bsrm.cm; website: ***.b.?f,3.88'1{u"0" Factry: Steel MeltingWrks:78/79,asirabad l/a; Baizid Bstami Rad, Chittagng; Phne: ,683536; Fax: Rlling Mill ; , asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ' ,683164; Fax:

7 ..l =E. BSRM " \\ il buildinq a safen natin Bangladesh Steel Re-Rlling Mills Limited Separate Statement f Prfit r Lss and Other Cmprehensive Incme In Taka Iulv'18- Set'18 Iulv'17- Set'17 Revenue Cst f sales Grss prfit Selling and distributin csts Administrative csts Other perating incme a,137,124.a?,2 4,779,71.9,052 (7,118,726,8191 t3,439,266,821) 1,018,398,003 74Q,452,231 (r72,600,361) (108,095,744) (78,140,556) (88,53e,s34J 6,O49,170 3,425,741 Operating prfit 773,706, ,242,693 Finance csts Finance incme (547,031,583) 66,534,061 (442,579,671) 33,L23,667 (480,497,522) {409,456,003) n-perating Incme ,586,423 Prfit befre WPPF and Welfare Fund 322,467,827 t66,373,712 Cntributin t WPPF and Welfare Fund (16,123,391) (8,318,6s6) Share fprfit fequity accunted investees, net ftax 190,391,678 97,899,005 Prfit befre tax Incme tax expenses Current tax: Current year Previus year 496,736,113 (66,494,695) 255,953,462 (1.5,02e,6_26) Deferred tax (59,713,1341 t75,837,038.) Ttal incme tax expense (126,207,8291 t90,866,6631 Prfit after tax 370,528,2A4 165,086,799 Other cmprehensive incme - - Ttal cmprehensive incme 370,528, ,086,799 Earnings per share Basic earni r share aka R.g,. Chief Financial Officer Chattgram, 10 vember, Bangladesh Steel Re-Rlling Mills Limited Crprate Office : Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh, D:\AssisPfldffaPe+681t3Y1ry 'USgS&f,s8Af5282:63?"15S;\Fa*L$ffi-st '1, mail@bsrm.cm, website: Factry : Steel MeltingWrks:78/79, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: , ; Fax: RllingMill : , asirabad l/a,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

8 I -#.,BsRM \l buitding a safen natin Bangladesh Steel Re-Rlling Mills Limited Separate statement f changes in equiw Fr the perid ended 30 September 2018 share Share capital - premrum General Reserve Revaluatin Reserve l2/ - Cnvertible Retarned cudn bnal- Earnings equity cmpnent Ttal Balance as n 01 lttly ZOIT L,95O,977,17O 5tt,97O,2SO 30,170,818 4,O19,434,561 43LA,5A7,O24 45,66L,142 10,876,800,965 Transfer against difference in depreciatin between cst and revalued amunt (tl,670,2e6) 15,560,395-3,890,099 Stck dividend (@10%) L95,097,7L0 (Les,e7,7L0) et Prfit during the perid Balance as en 30 September 2L7 165,086, ,086,799 z,r46,i4,aa stl,stqzs 30,170,918 4,7,76+,26s 4,304,136,s8 4s,661,L42 tl,4s,777,a6z Balance as n 1 uly 2018 Transfer against difference in depreciatin between cst and revalued amunt 2,t46,O74,44O 5LL,97O,25O 30,170,818 3,974, ,962,74',,0A1 45,661,t42 L3'671'4OA'539 (10,37s, ,834,369 3,45A,592 et prfit after tax fr the Perid 37O,524, ,52A,2A4 Balance as n 30 September 20la z,t46,74,aao 51 7,347,10'4,734 45,66r,142 14,045,395,415 Chattgram, 10 vember, 2018, Bangladesh Steel Re-Rlling Mills Limited Crprate Otfice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Factry: Steel MeliingWtksiTS/79, asirabad lla,baizid Bstami Rad, Chittagng; Phrle: , ; Fax: Blling Mill t , asirabad l/a,baizid Bstami Rad, Chittagng, Bangladesh. Phne: 'l , ; Fax:

9 -a =_-.BSRM -'- il buildinqasafennatin Bangladesh Steel Re-Rlling Mills Limited a., July'18- Sept'18 July'17- Sept'17 Cash flws frm perating activities Cash receipts frm custmers 8,184,681,081 4,591,558,630 Cash payments t suppliers, emplyees and advance ta (7,239,719,3541 (12,676,446,464) lncme tax paid (66,494,695) lnterest paid (480,497,522) - et cash frm perating activities 397,969,510 (8,084,887,834) Cash flws frm investing activities Acquisitin f Prperty, plant and equipment Dispsal f Prperty, plant and equipment lncrease in shrt term investment Other incme (22,O82,39_71 57,O19,872 (34,303,654) 15,000 (184,643,898) 28,586,423 et cash used in investing activities 34,937,476 (190,346,129) Cash flws frm financing activities (145,619,1691 (254,709,970) (330,1 21,536) 560,850,170 (Repayment) / Receipt f Lng term lans ReceipV(Repayment) f shrt term brrwings Lan tifrm related cmanies 128,911,876 7,740,416,426 activities (346,828 d. et increase/(decrease) in cash and cash equivalent (a+b+c) 86,078,158 (228,677,338) e. f. Opening cash and cash equivalents 704,983, ,739,763 et perating cashflw per share 1.85 (37.67) Q"S, Chief Financial Officer ffi***, Chattgram, 1 0 vember, Bangladesh Steel Re-Rlling Mills Limited Crprate 0ffice: Ali Mansin, , Sadarghat Rad, Chittagng, Bangladesh. Phne?,Sffin081L2e6IrumTqSlIB55SZI84gEgP,SBBfselFbeqtmr3qa8q{ 01, mail@bsrm.cm; Website: Pr/r11/8/2018 Factry: Steel MeltingWtksiTS/79, asirabad l/a, Baizid Bstami Rad, Chittagng; Phne: ,683536; Fax: Rlting Mill t , asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

10 1.00 Summary f significant accunting plicies The specific accunting plicies selected and applied by the cmpany's management fr significant transactins and events that have material effect within the framewrk f BAS-1 "Presentatin f Financial Statements", in preparatin and presentatin f financial statements have been cnsistently applied thrughut the year and were als cnsistent with thse used in earlier years. Fr a prper understanding fthe financial statements, these accunting plicies are set ut belw in ne place as prescribed by the BAS-1 "Presentatin f Financial Statements". The recmmendatins f BAS-1 relating t the frmat f financial statements were als taken int full cnsideratin fr fair presentatin. Set ut belw is an index fthe significant accunting plicies, the details fwhich are available n the fllwing: 1.00 Basis fcnslidatin and disclsure finterest in ther entities 2.00 Cnsistency 3.00 Prperty, Plant and Equipment 4.00 Capital Wrk-ln-Prgress 5.00 Intangible Assets 6.00 Inventries 7.00 Transactins in Freign Currencies 8.00 Investment in subsidiary and assciate 9.00 Financial Assets FinancialLiabilities Impairment L2.00 Cash Flw Statement Prvisins, CntingentLiabilitiesand CntingentAssets Brrwing Csts Taxatin Share Capital L7.00 Emplyee benefit RevenueRecgnitin Finance Incme and Csts Other Operating Incme Earnings Per Share [EPS) Duty Drawback MeasurementfFairValues Events After the Reprting Perid Cmparativelnfrmatin Leasses Standards issued but nt yet adpted 2.OO Basis f cnslidatin and disclsure f interest in ther entities Subsidiary is an enterprise cntrlled by the parent entity. Cntrl exists when an investr is expsed, r has rights, t variable returns frm its invlvement with the investee and has the ability t affect thse returns thrugh its pwer ver the investee. The financial statements f subsidiary are included in the cnslidated financial statements frm the date that cntrl cmmences until the date that cntrl ceases. The cnslidated financial statements have been prepared in accrdance with BFRS 10 "Cnslidated Financial Statements". BSML is a subsidiary cmpany f BSRM Limited. The Cmpany has made 52.87/ (Direct investment 44.97/ and indirect investment 07.9L0/) equity investment in this subsidiary. The cmpany is expsed t and has rights, t variable returns frm the subsidiary and als has the ability t affect thse returns thrugh its pwer ver BSML. The Financial Statements f the subsidiary cmpany are incrprated n a line by line basis and the investment held by the parent is eliminated against the crrespnding share capital f subsidiary in the cnslidated financial statements. The accunting plicies f subsidiary have been changed when it is necessary t align them with the plicies adpted by BSRM Limited (Parent entityj. The grup eliminates intra-grup assets and liabilities, equity, incme, expenses and cash flws relating t transactins between entities f the grup (prfits r lsses resulting frm intra-grup transactins that are recgnized in assets, such as inventry and fixed assets, are eliminated in full). i Bangladesh Steel Re-Rlling Mills Limited Crprate 0ffice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: , , ,637758; Fax: tt Ot, mail@bsrm.cm; Website: Factry:Steel MeltingWtksiTS/T1,asirabadl/A,BaizidBstami Rad,Chittagng; Phne: ,683536; Fax: Rlling Mill : , asirabad l/a,batzid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

11 tes t the separate BSRM l i Ht{di R g aleal StatBI{f &ts n-cntrlling interests The grup presents nn-cntrlling interests in its cnslidated statement f financial psitin within equity, separately frm the equity fthe wners fthe parent. The grup attributes the prfit r lss and each cmpnent f ther cmprehensive incme t the wners f the parent and t the nn-cntrlling interests. The prprtin allcated t the parent and nn-cntrlling interests are determined n the basis f present wnership interests Prperty, Plant and Equipment Recgnitin and Measurement Prperty, Plant and Equipment are stated at cst less accumulated depreciatin except Land & land develpment and Factry Building which are carried at revalued amunt, being fair values at the date f revaluatin less subsequent accumulated depreciatin and subsequent impairment lsses, if any. Cst includes expenditures that are directly attributable t the acquisitin f an asset. The cst f self-cnstructed / installed assets includes the cst fmaterials and direct labr, any ther csts directly attributable t bringing the asset t the wrking cnditin fr its intended use and the cst f dismantling and remving an item and restring the site n which they are lcated. When parts f an item f Prperty, Plant and Equipment have different useful lives, they are accunted fr as separate items (majr cmpnents) f Prperty, Plant and Equipment' Subsequent Csts The cst f replacing part f an item f Prperty, Plant and Equipment is recgnized in the carrying amunt f the item, if it is prbable that the future benefit embdied within the part will flw t the cmpany and its cst can be measured reliably. The csts f the day t day servicing f Prperty, Plant and Equipment are recgnized in prfit and lss as incurred. Depreciatin Land is held n a freehld basis and is nt depreciated cnsidering the unlimited life. In respect f all ther prperty, plant and equipment, depreciatin is recgnized in statement f prfit r lss and ther cmprehensive incme n straight line methd ver the estimated useful lives f prperty, plant and equipment. Depreciatin is charged n additin when it is ready fr use and n depreciatin is charged in the mnth f dispsal. The depreciatin methd used reflects the pattern in which the asset's ecnmic benefits are cnsumed by the entity. The depreciatin charge fr the year is recgnized as an expense unless it is included in the carrying amunt f anther asset. The principal annual rates and useful lives under straight line methd were as fllws: Categry fassets Plant and Machinery Mtr Vehicle Furniture and Fixtures Office Equipment Factry Buildings Rads and Pavements Cmputer & IT equipment Useful lives (vears'l L Rates 4/ - t5/ 60/ - 160/ 20/ 20/ 5/ 5/ 20/ Depreciatin methds, useful lives and residual values are reassessed at the reprting dates. Management has reviewed and revised the depreciatin methd frm reducing balance methd t straight line methd and estimated useful lives f assets inthez?zndmeeting f the Bard f Directrs held n 26 lantary 2017 effective frm January 20L7. Upn retirement f assets, the cst and related accumulated depreciatin are eliminated frm the accunts and resulting gain r lss is charged r credited t statement f prfit r lss and ther cmprehensive incme /- A ur,y 'Bangladesh Steel Re-Rlling Mills Limited crprate 0ffice I Ali Mansin, 1207/1099, Sadarghat Rad, chittagng, Bangladesh' phne: , , ,637758; Fax: t, mail@bsrm.cm; website: Factry : Steel Melting Wrks : 78179, asirabad l/a, Baizid Bstami Rad, Chittagng; Phne: , ; Fax:+88-03' RllingMill t ,asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

12 I 6.00 Revenue Recgnitin tes t the 7.OO Revenue frm sale f gds is measured at the fair value f the cnsideratin received r receivable, net f returns and allwances, trade discunts and rebates, ifany. Revenue is recgnized when the significant risks and rewards f wnership have been transferred t the buyer, recvery f the cnsideratin is prbable, the assciated csts and pssible return f gds can be estimated reliably and there is n cntinuing management invlvement with the gds. Sales revenue is recgnized when the gds are delivered. The timing f the transfer f risk and rewards depends n the individual terms f the sales agreement. Earnings PerShare (EPS) The cmpany calculates its earnings per share in accrdance with Bangladesh Accunting Standard BAS-33 "Earnings per Share" which has been reprted n the face f Statement f Prfit r Lss and Other Cmprehensive Incme. Basis fearnings. This represents prfit fr the year attributable t rdinary sharehlders and n- Cntrlling sharehlders. As there were n preference shares requiring returns r dividends, the net prfit after tax fr the year has been cnsidered as fully attributable t the rdinary sharehlders. Basic Earnings Per Share This has been calculated by dividing the basic earnings by the weighted average number f rdinary shares utstanding during the year. Diluted Earnings Per Share Diluted earnings per share is required t be calculated fr the year when scpe fr dilutin exists Cmparative Infrmatin Cmparative infrmatin is disclsed in respect f the prir perid/year in accrdance with BAS-1: Presentatin f Financial Statements, fr all numeric infrmatin in the financial statements and als the narrative and descriptive infrmatin where it is relevant fr understanding f the current perid's/year's financial statements. Prir perid's /Vy4s figures is rearranged wherever cnsidered necessary t ensure cmparability with the current perid. / (w Bangladesh Steel Re-Rlling Mills Limited Grprate Office: Ali Mansin, , Sadargh-at Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax: Q6101, mail@bsrm.cm; Website: Factry : Steel MeltingWrks: 78179, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: , ; Fax: Rlling Mill t , asirabad lla,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

13 wm}bsrm \& t+ t building a safer natin 9.00 Intangible assets In Taka Iulv'18- Sept'18 30 lune 2018 Bangladesh Steel Re-Rlling Mills Limited-H 20,951,225 21,797,061 Bangladesh Steel Re-Rlling Mills Limited-Klkata Branch 20,951,225 21,797,061 Bangladesh Steel Re-Rlling Mills Limited-HO In Taka Iulv'18- Sept'18 30 lune 2018 Cmputer Sftware fracle ERP) ,797, Cnslidated intangible assets In Taka Iulv'18- Sept'18 30 Iune 2018 Bangladesh Steel Re-Rlling Mills Limited BSRM Steel Mills Limited 20,951,225 L L,797, ,965, L ,762, Investment in subsidiary and assciate In Taka fuly'18- Sept'18 30 June 2018 Subsidiary cmpany BSRM Steel Mills Limited (BSMLJ BSRM [Hng Kng) Limited Assciate cmpany In assciate cmpanv-bsrm Steels Limited [BSLI 28L983663L 2,772,054,637 (1,25,92O) , ,957,044,226 6,766,652, Trade and Other Receivables In Taka Iulv'18- Sent'18 30 lune 2018 Bangladesh Steel Re-Rlling Mills Limited-HO 2,803,L82,O50 2,275,689,1,06 Bansladesh Steel Re-Rlline Mills Limited-Klkata E A Bangladesh Steel Re-Rlling Mills Limited-HO In Taka Iulv'18- Sept'18 30 lune 2018 Trade Receivables Other Receivables 2,608,384,093 2,081.,633,455 t ,055, ,689,1.06 i Bangladesh Steel Re-Rlling Mills Limited Crprate 0ffice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax: , mail@bsrm.cm; Website: Factry: Steel MeltingWtksiTS/79, asirabad l/a, Baizid Bstami Rad, Chittagng; Phne: ,683536; Fax: Rlling Mill t , asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

14 .:=-- EISRM *.-- il building a safer natin Trade Receivables In Taka BSRM Steels Limited BSRM Lgistics Limited BSRM Steel Mills Limited H. Akberali & C. Limited Other Parties Less: Prvisin fr dubtful debt Iulv'18- Sept'18 30 lune , ,1._90 673,483 I,067,966 8,576,O0L 2,599,020,126 2,082,401,267 2,609,475,095 2,082,724,457 (1,091,002) [1,091,002) 2,608,384,093 2,087,633,455 Other Receivables In Taka fuly'l8- Sept'18 30 June 2018 Interest Receivables 127,222,080 69,625,880 DuW draw back 67,575, ,429, ,055,651 Cnslidated trade and ther receivableb In Taka Iuly'18- Sept'18 30 lune 2018 Bangladesh Steel Re-Rlling Mills Limited BSRM Steel Mills Limited Less: Intra grup receivables 2,897,961,726 2,356,392,380 7,274,552,433 5,837,890,746 (560,424,3491 [1,139,525] 9,6t2,Oa9,8LO 8,193,L43,607 L2.0O Share capital In Taka July'18- Sept'18 30-fun-18 Authrized capital Issued, Subscribed and Paid-up capital 64,345,49L Ordinary Tk. 10 each issued in cash 64,345,491 Ordinary Tk. 10 each fully 27,1,60,056 Ordinary Tk. 10 each fully 17,500,000 Ordinary Tk. 10 each issued 4,070,523 Ordinary Tk. 10 each issued 77,736,756 Ordinary Tk. 10 each fully 19,509,77L 0rdinary Tk. 10 each fully 643,4s4, ,454,910 27t,600, ,000,000 40,LO',230 L77,36L,560 t95,097,7to 643,454, ,454, ,,600, ,000,000 40,1,05,230 1,77,361,, ,097,71.0 I Bangladesh Steel Re-Rlling Mills Limited CIplate 0ffice: AIi Mansin, , Sadarghat Rad, Chittagng, Bangladesh. -:-/ Phne: ,635382, , Fax: , mail@bsrm.cm; Website: Factry : Steel Melting Wrks : 78179, asirabad l/a, Baizid Bstami Rad, Chittagng; Phne: +BB , ; Fax: RllingMill : , asirabad l/a, Baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax: t:/

15 13.00 Deferred tax liability f BSRM Ltd HO RM safen natin Opening balance Prvided/ fadiusted) during the year: Investments in assciates Unabsrbed depreciatin Adjusted fr gratuity 720/ Cnvertible cupn bnd Sale/ derecgnitin f revalued assets Fr temprary difference f PPE and sftware fexcluding land) Adjusted fr impact f excess depreciatin n revaluatin surplus Deferred tax fverseas branch L,323,809,318 47,425,416 (2,901,;SS) L5,422,7L7 (3,458,592) ( ,331,863,088 t202,828,31,8.) 1,67,956,825 (e,756,e1.6) (2,158,736) (69,782) 53,481,,496 (74,81,7,9+9) 233,61.0 Clsins balance , Cnslidated deferred tax liability In Taka Iuly'18- Sept'18 30 lune 2018 Bangladesh Steel Re-Rlling Mills Limited BSRM Steel Mills Limited 1,380,063,860 1.,323,809,31.8 1,741,225,584 7,64L,B12,900 3,121,289,445 2,965,622,2'.J, Trade payables In Taka Iuly'18- Sept'18 30 lune 2018 Bangladesh Steel Re-Rlling Mills Limited-HO 3,740,966,912 7,0+3,408,784 Bangladesh Steel Re-Rlline Mills Limited-Klkata E 80,57O,7t9 72,870, r L 1,716,279,307 Bangladesh Steel Re-Rlling Mills Limited-HO In Taka July'18- Sept'18 30 lune 2018 BSRM Steels BSRM Wires BSRM Lgistics BSRM Steel Mills Limited BSRM Recycling Labr Cst Gds & supplies 3,L59,762,L12 8,026, ,356,384 (95,000) 3,600 s,924, ,789,+25 8,093,238 8,558,091 1,,139, , ,368,28L Payables fr stres and spares 7,948,694 80,485,181 3,740,966,9L2 1.,043,408,784 Cnslidated trade payables In Taka July'18- Sept'18 30 Iune 2018 Bangladesh Steel Re-Rlling Mills Limited 3,82t,537,631 1.,',1.1.6,279,307 BSRM Steel Mills Limited 272,961, ,413,591 Less: Intra srun eliminatin (560,424,3491 {1,,1,39,525) Bangladesh Steel Re-Rlling Mills Limited Crprate 0flice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax: , mail@bsrm.cm; Website: Factry:Steel MeltingWrks:78lTg,asirabadl/A,BaizidBstami Rad,Chittagng; Phne: ,683536; Fax: RllingMill : , asirabad l/a,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

16 15.00 Calculatin f AV, EPS and OCFPS Calculatin f AV (Separate) fshares et Asset Value et Asset Value Per share Calculatin f AV (Separate) fshares et Asset Value (n-cntrllingj et Asset Value Per share Earning Per share (Separate) fshares et Prfit after tax Earning per share fury,l'- Sept,l' H"FRM 274,607, ,607,488 t4,0+5,395,415 1,3,677,408, fuly'18- Sept'18 luly'17- Sept'17 214,607, ,607,488 L4,045,395,415 13,671,408, uly'18- Sept'18 luly'17- Sept'17 21,4,607, ,607,+BB 370,528, ,086,799 L Earning per share (cnslidated) fshares et Prfit after tax Earning per share fuly'18- Sept'18 luly't7- Sept'17 214,607, ,607, ,528,284 t65,086, et Operating Cash flws per shares (Separate) f Shares et Operating Cash flws et Operating Cash flws per shares fseparatej fuly'18- Sept'18 luly'17- Sept'17 2t+,607,4BB 214,607, ,969,51.0 [8,084,887, {37.67) et Operating Cash flws per shares (cnslidated) fshares uly'18- Sept'18 luly'17- Sept'17 274,607, ,607,+88 et Operating Cash flws (4,356,824,531) (8,+20,577,600) et Operating Cash flws per shares (Separate) Bangladesh Steel Re-Rlling Mills Limited Crprate Office:Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382,613282,637758; Fax: "10101, mail@bsrm.cm; Website: Factry : Steel MeltingWrks:78179, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: , ; Fax: Rlling Mill : , asirabad l/a,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683164; Fax:

17 #:BsRM -\ t building a safen natin Adjustment f net prfit with cash flws frm 16'00 peratingactivities Iulv'18- Sent'18 Iulv'17- Sent'17 Cperatine Prfit 773,706, ,242,693 Depreciatin 182,000, ,072,L05 Other incme zg,zsg,93 IncreaseJ/decrease in - Trade Receivable (s41,s69,346) 362,1,39,295 Advance against Sales s53,817,343 46,274,542 nventries (2,888,629,033) (3,448,996,628) Advances, depsits and pre-payments (243,574,8851 (339,L61,L54) e asset 845, ,835 ncrease/fdecreasel in- Trade payables 2,705,258,324 7,284,874,836 Liabilities fr expenses 297,0L2 [6,752,246,31,5' Prvisin fr gratuity t7,450,375 Prvisin fr incme tax 66,494,695 Other liabilities L,264,883 1,6,6'].6,587 Incme tax paid (66,494,695 nterest paid (480,497, ,969,510 [8,084,887,8341 h) Bangladesh Steel Re-Rlling Mills Limited Crprate 0ffice: Ali Mansin, 1207/1099, Sadarghat Rad, Chittagng, Bangladesh. Phne: ,635382, ,637758; Fax: 'l, mail@bsrm.cm; Website: Factry: Steel MeltingWrkstTS/79, asirabad l/a,baizid Bstami Rad, Chittagng; Phne: ,683536; Fax: RllingMill t , asirabad l/a,baizid Bstami Rad, Chittagng, Bangladesh. Phne: ,683't64; Fax: