30.06.2013 30.06.2012 39 Long Term Borrowings 194,842,351 196,414,602 A. A long term loan of Taka.134,714,226 was secured from Al- Arafah Islami Bank Ltd against Land,Building and Other Assets both present & future depositing the Title deeds of properties B. Long term loan for Unit No - 2 from Union Capital Ltd amounting to Taka. 60,128,125 have been secured against personal property of the Directors. 40 Term Borrowings 149,744,416 180,600,726 Term loan amounting to Taka. 30,049,048 was borrowed from Premier Bank Ltd. Against Director's personal Land and Tk.119,695,368, from Al Arafah Islami Bank Ltd. against Finished goods, Imported Raw & Packing materials. 41 Associates and Others Current Account 42 Deferred Tax Liability 43 Other Liabilities This consists of - Opening balance 78,950,815 26,341,000 Received during the ye 2,115,598 53,863,235 81,066,413 80,204,235 Refunded / Adjusted d (5,289,789) (1,253,420) 75,776,624 78,950,815 This represents provision is made for deferred income tax to pay future income tax liability for temporary difference which is arrived at as follows: Opening balance - - Provision made 1,907,431 - Closing balance 1,907,431 - Unpaid Dividend 25,624,374 21,390,262 Employees, Provident Fund 9,836,109 9,204,254 Workers' Profit Participation & We 3,354,326 3,161,268 38,814,809 33,755,784 44 Short Term Borrowings 109,241,172 84,286,136 Short term Loan of Taka. 109,241,172 was taken from Al - Arafah Islami Bank Ltd. against Finished goods, Raw & Packing materials which are payable currently. repaya b 30.06.2013 30.06.2012
45 Long Term Borrowings - Curren 31,330,338 14,562,352 This represents current portion of long term loans from financial institutions which are repayable currently as follows : Al - Arafah Islami Bank Union Capital Ltd, Dha 23,980,338 7,350,000 14,562,352-31,330,338 14,562,352 46 Term Borrowings- Current Porti 167,199,000 96,532,564 Term loan amounting to Taka. 167,199,000 was borrowed from Al -Arafah Islami Bank Ltd. which are payable currently against Finished goods, Imported Raw and Packing materials. 47 Creditors and Other Payables This consists of - A. For goods This represents amount payable to regular suppliers of packing materials, promotional materials etc. All suppliers were paid on a regular basis. This is made - up as follows- Packing materials 2,629,017 2,942,614 Promotion Material,Printing & Stat 1,546,788 1,854,639 4,175,805 4,797,253 B. For Services These are falling due within one year and arrived at as follows- Telephone & fax 6,993 12,344 Gas & electricity 906,796 647,167 Insurance 156,345 142,359 Audit fee 60,000 50,000 Salary and wages 4,865,759 6,369,280 Travelling expenses - field forces 2,230,853 2,071,125 C & F charges 745,260 1,947,654 Others 1,403,396 2,000,852 10,375,402 13,240,781 30.06.2013 30.06.2012 C. For Other Current Liabilities This is arrived at as follows -
Dividend Payable 567,930 460,550 Refund warrant Payable 2,000 2,000 Income tax payable (up to assessm 1,400,625 1,400,625 Sundry Liabilities 610,792 2,867,548 2,581,347 4,730,723 Grand Total ( A+B+C ) 17,132,554 22,768,757 48 Taxation Payable This is arrived at as follows - Balance 1 July 2012 8,554,098 8,115,927 Add: Current Tax 1,354,701 958,811 9,908,799 9,074,738 Income Tax Paid during this year (825,200) (520,640) Balance at 30 June 2013 9,083,599 8,554,098 49 Net Sales Revenue This is arrived at as follows - Sales 263,223,522 288,939,379 Less: VAT (35,903,807) (14) (40,347,205) Net Sales revenue 227,319,715 248,592,174 Sales represent: I. V Fluids Bag 4,783,006 5,135,696 Mineral Water Bottles - 767,162 Pharma Items Pack - 74,752 50 Cost of Goods Sold This is made - up as follows - Work in process -ope n Raw materials consum 51 6,042,577 13,152,829 9.37 6,143,042 14,919,692 Packing materials cons 52 97,202,074 69.27 104,222,404 Work in process -closing (6,153,275) (6,042,577) Direct materials consumed 110,244,205 78.57 119,242,561
Direct labour 3,102,160 2.21 4,996,703 Manufacturing overhea 53 23,077,180 16.45 25,682,658 Depreciation 6,017,615 3,773,097 Cost of production (Material & Manufacturi 142,441,160 153,695,019 Finished goods opening 16,543,302 18,815,563 158,984,462 172,510,582 Finished goods closing (17,815,563) (16,543,302) 141,168,899 155,967,280 Cost of sample (852,643) (1,870,205) Cost of Goods Sold 140,316,256 61.73 154,097,075 Item wise quantity and value of Finished Goods Stock are as follows : Item Unit Quantity Value Stock as at 30.06.2013 I.V Fluids Bag 709,218 17,815,563 Capsule & Vial Pack - - Mineral Water Bottles - - Taka 17,815,563 Unit Quantity Value Stock as at 30.06.2012 I.V Fluids Bag 627,153 15,754,093 Capsule & Vial Pack 9,983 739,294 Mineral Water Bottles 5,218 49,915 51 Raw Materials Consumed Taka 16,543,302 This is made -up as follows - Opening stock 9,141,138 9,580,569 Add: Purchase 13,564,325 14,480,261 22,705,463 24,060,830 Less: Closing stock (9,552,634) (9,141,138) Raw materials consumed 13,152,829 9.37 14,919,692 Out of total raw materials consumption in values 99.54% are imported. 52 Packing Materials Consumed This consists of as follows - Opening stock 29,862,768 23,215,489 Add: Purchase 95,463,869 68 110,869,683 125,326,637 134,085,172 Less: Closing stock (28,124,563) (29,862,768) Packing materials consumed 97,202,074 69 104,222,404 a. Out of total packing materials consumption in value 47.75% are imported.
b. in respect of quantity of packing materials as well as value of each items of packing materials are not given as the number of items as well as classes of items are numerous. 53 Manufacturing Overhead This consists of as follows - Salary,wages and benefits 10,174,502 12,483,573 Indirect materials 1,393,410 1,051,444 Overtime 990,583 933,010 Travelling & conveyance 446,805 300,426 Printing & stationery 112,837 162,233 Repairs & maintenance 315,299 558,332 Telephone, telex & fax 89,160 72,458 Gas & electricity 7,041,944 7,574,938 Insurance 530,861 546,497 Automobile operating expenses 413,776 585,783 Canteen expenses 1,127,842 1,016,147 Municipal tax 210,621 203,700 Trade licence fee 229,540 194,118 23,077,180 16.45 25,682,659 16.67 a. Salary and wages includes Provident Fund contribution of Taka. 506,040 for the workers. b. The number of employees during the year were 216 who received annual salaries and allowances of Taka. 36,000 and above. 54 Administrative Expenses This consists of as follows - Salary and allowances 3,239,848 4,775,425 Directors remuneration 1,861,500 1,861,500 Directors fees 36,000 30,000 Office rent 240,000 240,000 Repairs and maintenance 358,292 604,879 Travelling & conveyance 444,761 482,384 Bank Charges 118,294 104,506 Office expenses 99,427 104,569 Fooding expenses 386,512 402,758 Automobile Operating expenses 231,648 337,573 Printing, stationery 115,480 208,757 Postage, telephone and telex 154,170 257,830 Electricity, gas and water 200,852 457,408 Insurance 105,311 83,475 Legal, professional & other service 133,230 120,450 Membership fee 116,525 60,000 Audit fee 60,000 50,000 AGM expenses 200,743 220,354
Depreciation 198,882 215,767 Total 8,301,475 10,617,635 a. Audit fee represents Auditos' remuneration for auditing the accounts of the Company for the year ending 30 June 2013. b. The number of employees during the year were 36 who received annual salaries and allowance of Taka 36,000 and above. c. Salary and allowances includes Provident Fund contribution of Taka. 854,764. d. Break up of AGM expenses are as follows- Report and dividend warrant printi 124,614 119,310 Report and dividend warrant desp 6,013 5,346 AGM notice and others ( advertise 24,667 60,272 Decoration and others 45,449 35,426 200,743 220,354 55 Selling, Marketing and Distribution Expenses This consists of as follows - Salary,allowances and benefits 17,482,160 20,406,683 Office rent 1,555,200 1,555,200 Repairs and maintenance 685,623 1,316,952 Travelling & conveyance 4,525,751 7,865,479 Casual wages 852,634 1,225,678 Office expenses 514,264 812,855 Printing & stationery 323,006 612,200 Postage, telephone and telex 340,854 415,348 Electricity, gas and water 409,353 482,647 Insurance 354,184 325,478 Training & conference 65,324 18,540 Promotional materials expenses 1,556,615 4,337,704 Other promotional expenses 840,378 820,174 Sample expenses 852,643 1,870,205 Distribution expenses 4,599,874 6,670,221 Automobile operating expenses 539,194 842,780 Depreciation 795,794 1,249,726 Total 36,292,851 50,827,870 a. Salary and allowances includes Provident Fund contribution of Taka 1,326,025.. b. The number of employees in marketing department during the year were 328 who received annual salaries and allowances of Taka.36,000 and above. 56 Other Income Operating Income - Sales of Fish F 5,062,358 4,833,585 Less: Operating Expenses - Purchase o (625,436) (620,345) Operating Expenses - Purchase o (602,639) (589,743) 57 Finance Cost This is made - up as follows - 3,834,283 3,623,497
Interest on Short Term Loan 1,533,759 1,549,375 Interest on Cash Credit 24,355,368 18,529,067 Interest on LTR 9,977,377 7,846,556 Interest on loan from P.F and Welf 1,608,745 1,825,532 Total 37,475,249 29,750,530 The Company is paying interest @ 11.50% on the balance of Workers' Profit Participation & Welfare Fund and @ 14.00% on Provident Fund for utilizing the amount. 58 Contribution to Workers' Profit Participation & Welfare Fund This represents 5% of operating profit before tax after charging the contribution provided as per provisions of the Companies Profit (Workers Participation ) Act. 1968. 59 Current Tax This represents estimated Income Tax Liability as follows: 24.75 % Income Tax on Taxable P 1,162,987 777,637 5 % Income Tax on Taxable Profit 191,714 181,175 1,354,701 958,812 60 Appropriation During the Year In accordance with BAS-1 " Presentation of Financial Statements", the appropriations for the year have been reflected in the "Statement of Changes in Equity" A. Dividend - Proposed The proposed dividend @ 20% i.e, Taka. 2.00 per share of Taka. 10 each has been recommended by the Board of Directors subject to approval of shareholders. During the year under review, a part of the balance of net profit though carried forward in the Statement of Financial Position will be applied for payment of this year's cash dividend proposed by the Board of Directors @ Taka. 2.00 per share and will be recognised as liability in the accounts as and when approved by the shareholders in the Annual General Meeting. Total amount of proposed cash dividend for the year 2012-2013 is calculated to Taka.25,03,200.00 61 Earnings Per Share (EPS) Earning per share and its components have been defined in notes 12.2.10 The computation of EPS is given below - a. Earning attributable during the y 5,271,088 5,806,652 b. Number of ordinary shares outs 1,251,600 1,251,600 c. Earnings per share 4.21 4.64 62 Payment / Perquisites to Directors / Managers (A) The aggregate amounts paid to / provided for the officers of the company as defined in the Securities
and Exchange Rules 1987 are disclosed below : Managing Director 631,500 631,500 Directors Remuneration 1,230,000 990,000 Managers : Salary 2,142,345 2,618,373 Other benefits: Bonus 157,248 192,189 House rent 1,258,411 1,538,030 Utilities & others 655,129 800,698 Total 6,074,634 6,770,790 a. No compensation was allowed to the Managing Director of the Company except as stated above. b. No money was spent by the Company for compensating any member of the Board for special services rendered. 63 Production Capacity and Utilisation [ Quantity in million, unit of Bag ] Year Products Installed Capacity Production Utilised 2012-2013 I.V. F 4.58 45.80% 2011-2012 I.V. F 5.17 51.70% 64 Capital Expenditure Commitment a. There was no capital expenditure contracted but not incurred or provided for at 30 June 2013. b. There was no material capital expenditure authorised by the Board but not contracted for at 30 June 2013. 65 Claim not Acknowledged as Debt. There was no claim against the Company not acknowledged as debt as on 30 June 2013. 66 Contingent Liabilities There was no sums for which the Company is contingently liable at 30 June 2013. 67 Dividend Paid to the Shareholders During the year under review cash dividend amounting to Taka. 901,400 has been paid to the shareholders. 68 Credit Facilities There was no credit facility available to the company under the contract but not availed of as on 30 June 2013 other than bank credit facility and trade credit available in the ordinary course of business.
69 Raw and Packing Materials Consumption Value Taka. Percentage Imported 58,653,631 53.15% Local 51,701,272 46.85% 110,354,903 100.00% 70 Receivable from Directors None