Import Local Closing balance

Transcription

1 8.03 Raw materials reconciliation : ! At Cement plant Particulars Purchase Opening balance Import Local Closing balance Consumption Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value M. Ton M. Ton M. Ton M. Ton M. Ton Clinker 31, , , , ,857 1, ,352 Gypsum , ,239 4,102 13, r ly dan C ,082 12, , ,839,524 Lime stone 17,939 36,366,488 50, , , ,823,245 Slags ,727,693 9,813 30,935, , Grinding Aid 10 1, , , Total 194,578, , ,367, ,948 H. At Readv-mix Dlant Particulars Purchase Opening balaice Import Local Closing balance Consumption Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value M. Ton M. Ton M. Ton M. Ton M. Ton Cement , , Chemicals 17 2, , , , Stone Chips ( 20 mm) B I f ,321 36, Stone Chips ( 10 mm) 1, , ,581 2, ,386 50, Sylhet sands , ,465 Total 43,f ,397, ,676,081 38,671, ,945,643 Raw materials reconciliation : Particulars Opening balance Purchase Import Local Closing balance Consumption Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value M. Ton M. Ton M. Ton M. Ton M. Ton Clinker 27, , , , ,456 1,557,103,636 Gypsum 3,463 8.L , ,242 18, ,029 Fly ash 13, , Lime stone ,964, , , Grinding Aid 50 7, , Total 177,704,800 1,764,184, , ,578,244 1,892,331,641 Particulars Purchase Closing balance Consumption Opening balance Import Local Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value M. Ton M. Ton M. Ton M, Ton M. Ton Cement ,443 95, Chemicals a ,021,300 Stone Chips (3/4)" , ,944 16,993,895 Stone Chips (1/2)" , ,045 Stone Chips (20 mm) ,812 5, , ,676 88,683,838 Stone Chips (10 mm) , , ,387 12,577,846 Sylhet sands , Total , ,408, ,301,192 4X ,725, Packing materials reconciliation At Cement plant Opening balance Local purchase Closing balance Consumpti Dn Particulars Quantity Value Quantity Value Quantity Value Quantity Value ( Pes) (Pes) (Pes) (Pes) Jul/ 17-June' ,680 10,713,335 10,581, ,097, , ,220, ,700,015 Jul/ 16-June' ,144,871 10, ,135, , ,566, Work -in-process As on 30 June, 2018 Work-in-process cf cement was M Ton which included consumption of clinker M Ton Gypsum 371 M Ton, Fly ash M Ton Slags 792 M T and Lime Stone 610 M Ton

2 Trade receivables Against local sales 9.01 Against export Note(s) 972,985, ,028,662 49,028,514 21,556,564 1,022,013, ,585,226 Against local sales Dealers Corporate Individual 491,265, ,717,330 4,473, ,421, ,151,310 4,415, ,457, ,988,140 Corporate Individual 65,858,926 5,669,386 60,037,114 1,003,408 71,528,312 61,040,522 Grand total (i+ih VI Ul IU IV lu 1 II III 972,985, ,028,662 Ageing of trade receivables Up to 3 months Over 3 months but up to 6 months Over 6 months 672,568, ,399, ,045, ,941,228 72,654,581 76,989,417 1,022,013, ,585,226 The directors have estimated that the above receivables are good and realizable. No provision has been kept against these receivables. Advances, deposits and prepayments Advances Deposits Prepayments ,837, ,807,264 63,267,494 43,312,549 9,389,123 7,321,180 1,025,494, ,440,993 Advances Income tax ,882, ,916,423 Against expenses Share money deposits ,050, ,574,682 11,801, ,650,000 VAT Current Account Against purchase Contractors Employees Other advances ,438,541 7,092, ,000 11,765,977 11,354,639 2,020,550 90,727,795 11, ,940, ,389,954 Income tax Against expenses Against purchase Employees 26,511,442 44, , ,736 13,345,513 41, ,321 48,165 26,897,483 14,417,310 Grand total (i+ii) 952,837, ,807, Income tax ( For Cement Plant) Opening balance Add: Paid during the year Less: Adjusted during the year 244,916, ,054, ,633, ,365, ,970, ,999,091 (42,087,553) (158,082,668) 350,882, ,916,423 21

3 Share money deposits Confidence Electric Limited Confidence Power Holdings Limited Confidence Cement Dhaka Limited Other advances Sayeman Beach Resort, Cox's Bazar Note(s) 132,650, ,000,000 50,924, ,574, ,650, ,650, The above amount paid as advance against purchase of 1,002 sft Studio Apartment Registration of the said apartment has not yet been completed and accordingly it has not been considered as Investment Property as per BAS 40: Investment Property. Note(s) Income tax ( For Ready-mix Plant) Ooenina balance 13,345,513 5,562,243 1 *w' V V * Ml I H t J V i V 1 w Add: Paid during the year 13,165,929 7,783,270 26,511,442 13,345,513 1 Lcbo. oc*c MUjUblcu A rln ictorl UUMIH fit inri/i tkia woor Lllc ycal OC CA A A A*) ZD,5n,44Z A1 1/E M4 1 10,340,01 0 Deposits i.at Cement plant Margin/ Guarantee deposit 8,250,253 10,406,059 Rental 14,322,460 a A A A A f A A 14, Statutory authorities 40,694,781 18,302,742 63,267,494 43,312,549 ii At Rpariv-mix Plant II. r» L ItuaUTIHIA i ICU II iviai UII i ucfjuou Suh tntal M. A A A r\ A f\ oranu loiai ti+iij Prepayments Insurance premium 9 R7ft 9A9 0,0/ 0.O4O ft ftin **"ia Prepaid expenses 0,0 IU, o / en /en 9,248,630 /,1Z0,oUJ Insurance premium 140, , , ,377 Grand total (i+ii) 9,389,123 7,321, Other receivables Delta Life Insurance Co. Ltd. 18,047,025 15,431,280 Accrued interest on FDR 46,673, ,451,718 Receivable from Asian Paints (BD) Limited 2,748,750 Receivable from IIDFC Securities Limited 1,156,148 2,960,930 Receivable from A.B Ispahani Securities Limited 9,088, Receivable from Globe Securities Limited 376, Receivable from others 970,035 1,807,962 79,060, ,653,834 Delta Life Insurance Co. Ltd. 957, ,513 Receivable from Pragati Insurance Co.Ltd. 14, , ,933 Grand total (i + ii) 80,017, ,391,767

4 Receivable from Delta Life Insurance Company Limited represent Group Term Life Insurance with 100% refund of premium (GTR/100-10) with Accidental Death and Dismemberment (AD & D) plus Permanent Partial Disability (PPD) benefit. Short term investments in Fixed Deposits Name of the Banks Purpose Interest Rate Lanka Bangla Finance Limited Cash Deposit 8.75% ,000 - LankaBangla Finance Limited Cash Deposit 8.75% 50,000,000 - Prime Bank Limited Lien against CC Hypo 5%-8.75% 10,000,000 10,000,000 LankaBangla Finance Limited Cash Deposit 7.25%-8% 10,000,000 10,000,000 LankaBangla Finance Limited Cash Deposit 7.25% 4,000,000 4,000,000 City Bank Limited Cash Deposit 7.50% 50,000,000 - Brae Bank Limited Cash Deposit 7.50% 36,000,000 - United Finance Limited Cash Deposit 8.25% 20,000,000 - Union Capital Limited Cash Deposit 8.75% 20,000,000 - Prime Bank Limited Cash Deposit 4.50%-5% - 50,000,000 Prime Bank Limited Cash Deposit 4.50%-5% 50,000,000 Trust Bank Limited LC Margin 5.50% - 2,124,000 Trust Bank Limited LC Margin 5.50% - 2,281,000 Trust Bank Limited LC Margin 5.50% 2,208, ,000, ,613, casn in nana I. At Cement plant ii. At Ready-mix plant Note(s) Cash and cash equivalents Cash in hand ftfig QQ4 /"''jell jf k^nifc A 1 no UV9 VV"t 862,987,557 casn at uanxs TU,WV, 49,425, \J 863,557,551 Cash at banks 350, ,128 85, , ,994 Name of the Banks Branch Account Type AB Bank Limited Agrabad CD 1,077, ,426 AB Bank Limited CDA Avenue CD 7,010 8,275 Agrani Bank Limited Laldighi CD 106, ,344 Agrani Bank Limited Madambibirhat CD 12,452 12,452 Agrani Bank Limited CEPZ CD 12,543 12,543 Bank Asia Limited Agrabad CD 186,608 2,371,761 Bank Asia Limited Agrabad ^. SND (90,863) 163,371 Bank Asia Limited Agrabad SND 593,751 96,194 The City Bank Limited Agrabad CD 2.449,667 5,127,578 The City Bank Limited Agrabad SND 675,265 A A A it r r~ A 1,148,551 Dhaka Bank Limited Halishahar SND (1,029,591) 1,557,171 Dutch Bangla Bank Limited Agrabad CD 506, Eastern Bank Limited Agrabad CD 274,841 ~~7 A A f*\f\a 714,004 Eastern Bank Limited Agrabad STD 432, ,802,828 Eastern Bank Limited Agrabad CD 9,451 ft 99R EXIM Bank Limited Halishahar SND 2,612, ,417 First Security Islami Bank Ltd Agrabad SND 1,833,213 1,770,685 HSBC Agrabad CD 56, ,347 IFIC Bank Limited Agrabad CD 129, ,271 IFIC Bank Limited Motijheel STD 482, ,764 Islami Bank Bangladesh Ltd. Agrabad CD 2,243,375 2, Mercantile Bank Limited Madambibirhat CD 88, ,718 Midland Bank Limited Agrabad SND /gpis J^V223,617 18,660 Sew x's

5 Name of the Banks Branch Account Tvpe Mutual Trust Bank Limited Agrabad SND 2,099, ,853 Natonal Bank Limited Halishahar SND 1,528, ,803 NCC Bank Limited Halishahar SND 901, ,754 One Bank Limited Agrabad SND (1,292,188) 2, Premier Bank Limited Agrabad SB 117, ,525 Premier Bank Limited Agrabad SND 423,496 (47,670) Premier Bank Limited Motijheel SND 33, ,281 Premier Bank Limited Agrabad CD - 9 Prime Bank Limited Motijheel SND 479,158 ( ) Prime Bank Limited Agrabad CD 13,796,520 4,285,362 Prime Bank Limited Agrabad USD 7,622,806 7,554,450 Prime Bank Limited Agrabad SND 240, ,486 Prime Bank Limited Agrabad SND 384, Southeast Bank Limited Agrabad CD (1,907,389) 2, Southeast Bank Limited Madambibirhat CD 1,823, ,267 Standard Chartered Bank Agrabad CD 14,220 1,112,622 Standard Chartered Bank Kolkata CD 486, ,748 State Bank of India Chittagong CD 5,850 1,233,287 Standard Bank Limited Agrabad STD 2,053,753 2,887,379 Trust Bank Limited CDA Avenue CD 32, ,329 Trust Bank Limited CDA Avenue SND 107, United Commercial Bank Ltd Agrabad CD 451,042 1,634,301 United Commercial Bank Ltd Halishahar SND 2,932, ,226, ,122,005 Prime Bank Limited Agrabad CD o 700 f\g1 ft 7ftft 771 Trust Bank Limited CDA Avenue CD o,/zo,uyi 35,189 2,108,781 3,763,280 7,865,552 Grand total (i+ii) AR QQn 1 70 Rfi7 QR7 Rft7 Negative balances shown in the bank book represent book overdraft Share capital Authorized capital 100,000,000 Ordinary shares of Tk 10 each 1,000,000,000 A nnn nnn AAA 1,000,000,000 Issued, Subscribed and Paid-up capital 44,993,520 Ordinary shares of Tk 10 each 449,935, ,935,200 8,998,704 Bonus shades oftk. 10 each 89,987,040 Total 53,992,224 ordinary shares of Tk 10 each 539,922, ,935,200 The Company issued 20% bonus shares (8,998,704 shares) as declared in 26th annual general meeting for the year

6 14.01 Composition of shareholders Name of shareholders Sponsors Non-resident shareholders Financial Institutions Investment Corporation of Bangladesh Mutual Fund(s) Investors Discretionary Account General Public As at 30 June 2018 As at 30 June 2017 No. of Shares 16,133, , ,791, , , ,252, Holding a No. of Shares Holding (%) 11,472, , ,920, ,190, ,480, ,068, ,860, , ,993, Classification of shares by holding Class by Number of Shares No. of Holders No. of Shares Holding (%) Up to 5,000 10,498 4,925, From to , From 50,001 to ,464, From 100,001 to 200, , From 200,001 to 300, ,785, From 300,001 to 400, From 400,001 to 500, From 500,001 to 1,000, , From 1,000,001 to 10,000, ,245, ,038 53,992, Reserves General reserve 371,862, ,862, ,862, ,862,754 The general reserve is created from time to time to transfer profits from retained earnings for appropriation purposes and to meet future known or unknown requirements There is no policy of regular transfer As the general reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income, items included in the general reserve will not be reclassified subsequently to profit or loss Revaluation reserve 537,636, ,705, ,636, ,705,317 Revaluation reserve relates to the revaluation of property, plant and equipment. Long term loans Note(s) i) Cement Plant Syndication of term Loan ,641,795 Total 89,641,795

7 16.01 a ) Lenders : The Company entered in to a syndication term loan agreement for expansion project (Unit* 3) on 10 August 2016 with Eastern Bank Limited the lead arranger and nine other banks and financial institution. b) Loan Facilities: c) Interest Rate: d) Disbursement: e) Securities : BD 1,707 million 11.50% per p.a. First disbursement made on 17 May, 2018 i) Registered Mortgage on 640 decimals of land of the factory premises located at Madambibirhat, Sitakunda, Chattogram. ii) iii) Fixed and floating charges over Fixed Assets Irrevocable general power of attorney iv) Demand promissory note for full loan amount f) Repayments : This term loan is repayable in 24 equal quarterly installments after 1 ( one ) year of grace period. g) Purpose : For capital expenditure on expansion project M.T per day. Unit-3) with an additional capacity of Note(s) Defined benefit obligations (gratuity) i. At Cement Plant Opening balance 55,355,460 48,671,000 Add: Provided during the year ,910 8,653,985 77,709,370 57,324,985 Less: Paid during the year (15,541,940) (1,969,525) 62,167,430 55,355,460 Opening balance 1,409,380 1,025,235 Add: Provided during the year , ,010 2,029,435 1,450,245 Less: Paid during the year (110,390) (40,865) 1,919,045 1,409,380 Grand Total (i+ii) 64,086,475 56,764, Provided during the year i. At Cement Plant Factory overhead ,783,905 5,093,085 Administrative expenses ,494,645 2,187,010 Selling and distribution expenses ,075,360 1,373,890 22,353,910 8,653,985 Factory overhead , , , ,010 26

8 18.00 Deferred tax liability Deferred tax liability has been calculated below at the applicable tax rate on the difference between the carrying value of property, plant and equipment as per financial statements and tax written down value and financial position liability method for gratuity obligation. Opening balance Add/(Less): Provision / adjustment made during the year Against temporary difference Adjusted during the year against impact of depreciation on revaluation surplus Closing Balance 210,536, ,734,977 12,477,243 (13,227,958) (750,714.92) 209,785,503 (1,590,654) (13.608,105) (15,198,759) 210,536,218 Reconciliation of Deferred tax libilities /(assets) are as follows : As at 30 June 2018 Carrying Amount Tax Base Taxable/ (Deductible) Temporary Difference Property, Plant and Equipment Gratuity 3,264,562,555 (64.086,475) 2,361,334, , (64,086,475) Net taxable temporary difference Applicable rate Deferred tax liability ,018 25% 209,785, Trade payables Payable to suppliers Payable to contractors Salaries, wages and other benefits Auditors' remuneration Power and gas Other expenses Payable to suppliers Payable to contractors Salaries, wages and other benefits Electricity bill Other expenses Grand total (i+ii) Note(s) 170,563, ,077, ,509, , , ,500 6,219,791 9,967, ,301, ,473, ,984, ,822,714 75,343,380 44, , , ,168 81,222 9,660,001 2,668,443 88,097,905 48,664, ,082, ,486, Short term loans Deferred payment of LC Loan against Trust Receipt ( LATR ) Time/Demand Loan/ General/Short Term Loan Cash Credit (Hypothecation )/OD General Short Term/Express loan (for working capital loan) Short Term/Express loan (Expansion project unit-3) ,262,543, ,336, ,304,217 76, , , ,776, ,019,093 1,496, ,069,653,003 3,186,091, t

9 Deferred payment of LC Note(s) 30 June 2017 Bank Asia Limited 153,109, ,457,535 City Bank Limited 191,429, ,443,894 Eastern Bank Limited 131,780,328 - Mutual Trust Bank Limited 171,495,377 51,527,560 ONE Bank Limited 11,824,409 Prime Bank Limited 165,463, ,221,670 Pubali Bank Limited 112,650,827 99,892,223 Trust Bank Limited 284,897, ,793,418 1,222,651, ,336,300 Trust Bank Limited Grand total (i+ii) Loan against Trust Receipt ( LATR ) Bank Asia Limited City Bank Limited Mutual Trust Bank Limited One Bank Limited Prime Bank Limited Trust Bank Limited Trust Bank Limited Grand total (i+ii) 39,892,355 39,892, ,543, ,336,300 16,772,578 8, ,279 4,881,480 50,709,136 12,879,467 20,019,318 5,634,855 21,642, ,304,217 48,719,855 27,699,339 27,699, , , Time/Demand Loan/ General/Short Term Loan Bank Asia Limited 34,047,007 3,496,800 City Bank Limited 105,894,688 43,296,978 Eastern Bank Limited 64,096,023 Mutual Trust Bank Limited 52,128,140 21,991,135 ONE Bank Limited 4,950,819 44,723,766 Prime Bank Limited 206,986,406 96,734,578 Pubali Bank Limited 197,502,037 Trust Bank Limited 80,860, ,638, ,465, ,882,032 Trust Bank Limited Grand total (i+ii) Cash Credit (Hypothecation )/OD General Bank Asia Limited City Bank Limited Eastern Bank Limited Mutual Trust Bank Limited One Bank Limited Prime Bank Limited Pubali Bank Limited Trust Bank Limited 12,544,600 18,393,036 12,544,600 18,393, , ,572,161 22,803,638 10,284, ,108,962 44,531,507 49,614,029 78,085,264 91,438, ,045, ,691,767 85,745,763 86,900,337 99,402,010 44,939, ,776, ,387,328

10 20.05 Short Term/Express loan (for working capital loan Note(s) ONE Bank Limited 310,019, ,019, Short Term/Express loan ( for Expansion project unit-3) Bank Asia Limited City Bank Limited IPDC Prime Bank Limited Pubali Bank Limited 504,222, ,518, ,888,889 78,953,968 ; 251,090,278 1,496,673, Nature of Security i) Personal guarantee of all directors' and post dated cheques. ii) Corporate Guarantee of Confidence Steel Limited iii) Mortgage of 268 decimal of land with Prime Bank Limited, Agrabad Branch, Chattogram Rate of Bank Interest Rate of interest is ranging from 9.00% to 13% Bank facilities The company is currently availing the following facilities from different banks:- Limit ( in crore ) Bank Name Branch LC LTR Time/ Demand/ Import Duty Loan OD/CC Short Term Loan Bank Asia Limited Agrabad The City Bank Limited Agrabad Eastern Bank Limited Agrabad HSBC Agrabad Mutual Trust Bank Limited Agrabad ONE Bank Limited Agrabad Prime Bank Limited Agrabad Pubali Bank Limited Agrabad Trust Bank Limited Agrabad United Commercial Bank Ltd. Agrabad Current portion of long term loans At Readv-mix Plant Prime Bank Limited Provision for WPPF and welfare fund Opening balance Add: Provided during the year Less: Paid during the year Note(s) ,149,813 4,149,813 5,218,933 28,775,767 5,218,933 5,218,933 33,994,700 5,218,933 28,775,767 5,218,933 29