ORION PHARMA LIMITED AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

AS AT AND FOR NINE MONTH PERIOD ENDED 31 MARCH 2022

(THIRD QUARTER)
 ORION PHARMA LIMITED AND ITS SUBSIDIARIES
Condensed Consolidated Statement of Financial Position (Unaudited)
As at 31 March 2022

Amount In BDT
Particulars
31-Mar-22 30-Jun-21
Assets
Non-Current Assets 29,005,140,453 26,110,018,103
Property, Plant and Equipment 6 14,021,194,389 14,219,821,108
Right of use Assets 7 47,164,251 50,811,429
Construction Work in Progress 8 8,596,113,968 5,584,939,176
Investment in Associates 10 382,309,000 303,455,000
Other Investments 11 5,958,358,845 5,950,991,390

Current Assets 13,635,458,372 16,223,065,351

Inventories 12 1,575,391,158 1,364,387,400
Trade and Other Receivables 13 9,397,398,348 12,401,457,500
Advances, Deposits & Prepayments 14 2,505,373,051 2,018,609,949
Fixed Deposit with Banks 15 31,360,925 23,616,354
Cash and Cash Equivalents 16 125,934,890 414,994,148

Total Assets 42,640,598,824 42,333,083,454

Shareholders' Equity and Liabilities

Shareholders' Equity 19,179,772,326 18,662,734,883
Share Capital 17 2,340,000,000 2,340,000,000
Share Premium 8,016,892,026 8,016,892,026
Reserves 18 1,977,747,597 1,904,852,372
Retained Earnings 19 6,845,132,703 6,400,990,484
Non - Controlling Interest 20 1,450,576,925 1,411,671,307
Total Equity 20,630,349,251 20,074,406,190
Non-Current Liabilities 18,022,594,580 16,251,126,042
Provision for Decommissioning of Assets 143,405,563 143,405,563
Long Term Loan 21 17,692,929,962 15,929,537,566
Lease Obligation 22 38,430,291 39,898,633
Deferred Tax Liability 23 147,828,764 138,284,281
Current Liabilities 3,987,654,994 6,007,551,222
Current portion of Long Term loan 21.1 341,341,201 274,326,280
Current Portion of Lease Obligation 22.1 28,145,919 36,415,462
Short term loans 24 564,797,598 564,317,167
Trade and Other Payables 25 2,328,566,405 4,544,004,961
Employee Benefits 26 115,211,809 97,229,950
Unclaimed/Unpaid Dividend 13,775,902 57,261,392
Accrued Expenses 27 595,816,159 433,996,009

Total Equity & Liabilities 42,640,598,824 42,333,083,454

Number of Shares Used to Compute NAV 234,000,000 234,000,000

Net Asset Value (NAV) Including Revaluation Surplus 32 81.96 79.76

Net Asset Value (NAV) Excluding Revaluation Surplus 74.03 71.79

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 ORION PHARMA LIMITED
Condensed Statement of Financial Position (Unaudited)
As at 31 March 2022

Amount In BDT
Particulars
31-Mar-22 30-Jun-21
Assets
Non-Current Assets 19,778,415,905 16,851,710,644
Property, Plant and Equipment 6a 7,578,969,841 7,746,013,649
Right of use Assets 7 47,164,251 50,811,429
Construction Work in Progress 8 8,596,113,968 5,584,939,176
Investment in Subsidiaries 9 1,017,000,000 1,017,000,000
Investment in Associate 10 382,309,000 303,455,000
Other Investments 11a 2,156,858,845 2,149,491,390
Current Assets 10,176,868,088 9,810,320,511
Inventories 12a 567,717,928 344,345,275
Trade and Other Receivables 13a 7,563,030,983 7,563,464,801
Advances, Deposits & Prepayments 14a 1,910,765,771 1,678,287,378
Fixed Deposit with Banks 15 31,360,925 23,616,354
Cash and Cash Equivalents 16a 103,992,482 200,606,704
Total Assets 29,955,283,992 26,662,031,155

Shareholders' Equity and Liabilities

Shareholders' Equity 12,786,196,594 12,412,193,719
Share Capital 17 2,340,000,000 2,340,000,000
Share Premium 8,016,892,026 8,016,892,026
Reserves 18a 1,610,076,553 1,536,805,467
Retained Earnings 19a 819,228,015 518,496,227
Non-current Liabilities 15,336,914,545 12,651,282,936
Long term loan 21a 15,150,655,490 12,473,100,022
Lease obligation 22 38,430,291 39,898,633
Deferred tax liability 23 147,828,764 138,284,281
Current Liabilities 1,832,172,854 1,598,554,500
Current portion long term loan 21a.1 341,341,201 274,326,280
Current portion of finance lease obligation 22.1 28,145,919 36,415,462
Short term loans 24 564,797,598 564,317,167
Trade and other payables 25a 347,805,913 301,960,481
Employee benefits 26a 46,095,290 28,113,432
Unclaimed/Unpaid Dividend 13,775,902 57,261,392
Accrued expenses 27a 490,211,031 336,160,285
Total Equity & Liabilities 29,955,283,992 26,662,031,155

Number of Shares Used to Compute NAV 234,000,000 234,000,000

Net Asset Value (NAV) Including Revaluation Surplus 32a 54.64 53.04

Net Asset Value (NAV) Excluding Revaluation Surplus 48.79 47.16

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 ORION PHARMA LIMITED AND ITS SUBSIDIARIES
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income ( Unaudited)
For Nine Month Period Ended 31 March 2022
Amount In BDT
Particulars July 2021 to July 2020 to January to January to
March 2022 March 2021 March 2022 March 2021

Revenue from Net Sales 28 3,079,930,212 7,762,266,210 1,137,882,920 2,438,546,717

Cost of Goods Sold (1,021,103,365) (894,270,582) (362,489,294) (295,981,647)
Cost of Power Generation (726,553,249) (4,987,331,678) (246,193,951) (1,501,871,600)
Gross Profit 1,332,273,598 1,880,663,949 529,199,675 640,693,469
Operating Expenses (877,533,803) (781,184,578) (353,122,574) (290,809,973)
General & Administrative Expenses (333,691,957) (301,077,836) (131,535,703) (106,797,465)
Selling & Distribution Expenses (543,841,847) (480,106,742) (221,586,871) (184,012,507)
Profit from Operation 454,739,795 1,099,479,371 176,077,101 349,883,496
Financial Expenses 29 (121,776,855) (254,895,872) (36,460,128) (100,777,919)
Non Operating Profit/ (Loss) 616,133,631 29,910,237 181,475,301 29,137,139
Net Profit from Operation 949,096,571 874,493,735 321,092,274 278,242,717
Workers Profit Participation Fund (36,531,256) (41,642,559) (10,100,736) (13,249,653)
Net Profit before Tax 912,565,314 832,851,176 310,991,538 264,993,064

Income Tax (161,944,184) (67,311,783) (44,640,557) (18,107,666)

Current Tax (Expenses)/Income 30 (152,121,258) (66,328,650) (42,170,098) (16,236,274)
Deferred Tax (Expenses)/Income (9,822,926) (983,133) (2,470,459) (1,871,392)

Net Profit after Tax 750,621,130 765,539,394 266,350,981 246,885,398

Share of Profit from Associate 6,334,900 4,961,600 1,993,500 1,461,900
Net Profit 756,956,030 770,500,995 268,344,481 248,347,298

Less: Non Controlling Interest (share of operating profit) (38,905,618) (74,204,897) (22,893,694) (26,043,942)

Net Profit after Tax before Other Comprehensive Income 718,050,413 696,296,098 245,450,787 222,303,355
Other Comprehensive Income 79,865,144 (8,983,136) 486,265 (29,905,101)
Fair Value Gain of Marketable Securities 7,067,602 (8,631,077) 4,756,263 (12,963,463)
Fair Value Gain on Investment in Associate 72,296,450 (891,337) (4,696,822) (17,414,284)
Share of Other Comprehensive Income 222,650 359,737 45,322 4,384
Deferrred tax Income (Expenses) on Revaluation Surplus of PPE &
278,443 179,541 381,503 468,262
Fair Value Changes of Mkt. securities

Total Comprehensive Income Attributable to Ordinary

797,915,557 687,312,961 245,937,052 192,398,254
Shareholders

Number of Shares Used to Compute EPS 234,000,000 234,000,000 234,000,000 234,000,000

Earnings Per Share (EPS) 31 3.07 2.98 1.05 0.95

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 ORION PHARMA LIMITED
Condensed Statement of Profit or Loss and Other Comprehensive Income ( Unaudited)
For Nine Month Period Ended 31 March 2022

Amount In BDT
Particulars July 2021 to July 2020 to January to January to
March 2022 March 2021 March 2022 March 2021

Revenue from Net Sales 28.a 2,253,535,910 1,956,510,067 790,312,115 662,794,466

Cost of Goods Sold (1,021,103,365) (894,270,582) (362,489,294) (295,981,647)
Gross Profit 1,232,432,545 1,062,239,484 427,822,820 366,812,819
-
Operating Expenses (841,314,211) (737,393,437) (342,151,826) (279,309,843)
General & Administrative Expenses (297,472,364) (257,286,695) (120,564,956) (95,297,336)
Selling & Distribution Expenses (543,841,847) (480,106,742) (221,586,871) (184,012,507)
Profit from Operation 391,118,334 324,846,047 85,670,994 87,502,976
Financial Expenses 29.a (52,731,173) (65,730,813) (12,576,040) (39,168,209)
Non Operating Profit/ (Loss) 428,769,223 29,910,237 139,020,498 29,137,139
Net Profit from Operation 767,156,384 289,025,471 212,115,452 77,471,906
Workers Profit Participation Fund (36,531,256) (13,763,118) (10,100,736) (3,689,138)
Net Profit before Tax 730,625,127 275,262,353 202,014,716 73,782,768

Income Tax (161,944,184) (67,311,783) (44,640,557) (18,107,666)

Current Tax (Expenses)/Income 30 (152,121,258) (66,328,650) (42,170,098) (16,236,274)
Deferred Tax (Expenses)/Income (9,822,926) (983,133) (2,470,459) (1,871,392)

Net Profit after Tax 568,680,944 207,950,571 157,374,159 55,675,102

Share of Profit from Associates 6,334,900 4,961,600 1,993,500 1,461,900
Net Profit after Tax before Other Comprehensive
575,015,844 212,912,171 159,367,659 57,137,002
Income
Other Comprehensive Income 79,865,144 (8,983,136) 486,265 (29,905,101)
Fair Value Gain of Marketable Securities 7,067,602 (8,631,077) 4,756,263 (12,963,463)
Fair Value Gain on Investment in Associate 72,296,450 (891,337) (4,696,822) (17,414,284)
Share of Other Comprehensive Income 222,650 359,737 45,322 4,384
Deferrred tax Income (Expenses) on Revaluation Surplus of PPE
278,443 179,541 381,503 468,262
& Fair Value Changes of Mkt. securities
Total Comprehensive Income attributable to Ordinary
654,880,988 203,929,034 159,853,924 27,231,900
Shareholders
Number of Shares Used to Compute EPS 234,000,000 234,000,000 234,000,000 234,000,000

Earnings Per Share (EPS) 31a 2.46 0.91 0.68 0.24

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 ORION PHARMA LIMITED AND ITS SUBSIDIARIES
Condensed Consolidated Statement of Changes in Equity (Unaudited)
For Nine Month Period Ended 31 March 2022
Amount in BDT

Ordinary Share Retained Non controlling

Particulars Reserves Total Total
Share Capital Premium Earnings Interest
Balance at 01 July 2021 2,340,000,000 8,016,892,026 1,904,852,372 6,400,990,484 18,662,734,883 1,411,671,307 20,074,406,190
Net Profit after Tax - - - 718,050,413 718,050,413 38,905,618 756,956,030
Cash Dividend for the year 2020-2021 (280,800,000) (280,800,000) (280,800,000)
Fair Value Gain /(Loss) on Investment in Associate 72,296,450 - 72,296,450 - 72,296,450
Fair Value Gain /(Loss) on Marketable Securities 7,067,602 - 7,067,602 - 7,067,602
Adjustment for sale of Mkt. Securities (78,114) - (78,114) - (78,114)
Share of Other Comprehensive Income 222,650 - 222,650 - 222,650
Adjustment of Deferred tax on Revaluation Surplus 278,443 - 278,443 - 278,443
Depreciation on Revaluation Surplus (6,891,806) 6,891,806 - - -
Balance at 31 March 2022 2,340,000,000 8,016,892,026 1,977,747,597 6,845,132,703 19,179,772,326 1,450,576,925 20,630,349,251

For Nine Month Period Ended 31 March 2021

Amount in BDT

Ordinary Share Retained Non controlling

Particulars Reserves Total Total
Share Capital Premium Earnings Interest
Balance at 01 July 2020 2,340,000,000 8,016,892,026 1,936,593,119 5,670,236,252 17,963,721,396 1,225,990,411 19,189,711,808
Net Profit after Tax - - - 696,296,098 696,296,098 74,204,897 770,500,995
Cash Dividend for the year 2019-2020 (234,000,000) (234,000,000) (234,000,000)
Fair Value Gain /(Loss)on Investment in Associate (891,337) - (891,337) - (891,337)
Fair Value Gain /(Loss) on Marketable Securities (8,631,077) - (8,631,077) - (8,631,077)
Adjustment for sale of Mkt. Securities 17,886,495 - 17,886,495 - 17,886,495
Share of Other Comprehensive Income 359,737 - 359,737 - 359,737
Adjustment of Deferred tax on Revaluation Surplus 179,541 - 179,541 - 179,541
Depreciation on Revaluation Surplus (19,267,527) 19,267,527 - - -
Balance at 31 March 2021 2,340,000,000 8,016,892,026 1,926,228,951 6,151,799,876 18,434,920,853 1,300,195,308 19,735,116,161

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 ORION PHARMA LIMITED
Condensed Statement of Changes in Equity (Unaudited)
For Nine Month Period Ended 31 March 2022
Amount in BDT

Particulars Ordinary Share Capital Share Premium Reserves Retained Earnings Total

Balance at 01 July 2021 2,340,000,000 8,016,892,026 1,536,805,467 518,496,227 12,412,193,719

Net Profit after Tax - - - 575,015,844 575,015,844
Cash Dividend for the year 2020-2021 (280,800,000) (280,800,000)
Fair Value Gain /(Loss)on Investment in Associate - - 72,296,450 - 72,296,450
Fair Value Gain /(Loss) on Marketable Securities - - 7,067,602 - 7,067,602
Adjustment for sale of Mkt. Securities - - (78,114) - - 78,114
Share of Other Comprehensive Income - - 222,650 - 222,650
Adjustment of Deferred tax on Revaluation Surplus - - 278,443 - 278,443
Depreciation on Revaluation Surplus - - (6,515,944) 6,515,944 -
Balance at 31 March 2022 2,340,000,000 8,016,892,026 1,610,076,553 819,228,015 12,786,196,594

For Nine Month Period Ended 31 March 2021

Amount in BDT

Particulars Ordinary Share Capital Share Premium Reserves Retained Earnings Total

Balance at 01 July 2020 2,340,000,000 8,016,892,026 1,552,679,134 457,550,939 12,367,122,099

Net Profit after Tax - - - 212,912,171 212,912,171
Cash Dividend for the year 2019-2020 - - - (234,000,000) (234,000,000)
Fair Value Gain /(Loss)on Investment in Associate - - (891,337) - (891,337)
Fair Value (Loss)/Gain on Marketable Securities - - (8,631,077) - (8,631,077)
Adjustment for sale of Mkt. Securities - - 17,886,495 - 17,886,495
Share of Other Comprehensive Income - - 359,737 - 359,737
Adjustment of Deferred tax on Revaluation Surplus - - 179,541 - 179,541
Depreciation on Revaluation Surplus - - (7,367,218) 7,367,218 -
Balance at 31 March 2021 2,340,000,000 8,016,892,026 1,554,215,276 443,830,327 12,354,937,628

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 ORION PHARMA LIMITED AND ITS SUBSIDIARIES
Condensed Consolidated Statement of Cash Flows ( Unaudited)
For Nine Month Period Ended 31 March 2022

Amount In BDT
Particulars July 2021 to March July 2020 to March
2022 2021

A. Cash Flows from Operating Activities :

Cash Received from Customers 5,941,798,904 7,080,442,856
Cash Paid to Suppliers (4,101,968,871) (4,141,530,537)
Cash Payment for Operating Expenses (1,000,698,539) (1,132,379,179)
Cash Generated from Operation 839,131,495 1,806,533,140
Income Taxes Paid (34,715,817) (47,689,344)
Net Cash Generated/(Used) from Operating Activities 804,415,677 1,758,843,795

B. Cash Flows from Investing Activities :

Acquisition of Property, Plant & Equipment (61,475,466) (678,366,757)

Capital Work in Progress (3,011,174,791) (1,899,137,673)
Investment in Subsidiaries, Associate & Others 17,863,760 (1,236,435,325)
Interest, Dividend & Other Income 428,769,223 29,910,237
Net Cash Received/(Used) from Investing Activities (2,626,017,275) (3,784,029,518)

C. Cash Flows from Financing Activities :

Long Term Loan Received/ (Repaid) 1,830,407,317 2,229,181,154

Short Term Loan Received/ (Repaid) 158,177,285 32,468,483
Lease obligation (9,737,885) (4,783,710)
Financial expenses paid (122,018,887) (259,208,292)
Dividend paid (324,285,490) (356,927,538)
Net Cash Received/(Used) from Financing Activities 1,532,542,339 1,640,730,097

Net Increase /(Decrease) in Cash & Cash Equivalents

(289,059,258) (384,455,625)
(A+B+C)
Cash & Cash Equivalents at the beginning of the period 414,994,148 1,034,178,328
Cash & Cash Equivalents at the end of the period 125,934,890 649,722,703

Number of Shares Used to Compute NOCFPS 234,000,000 234,000,000

Operating Cash Flow Per Share 33.1 3.44 7.52

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 ORION PHARMA LIMITED
Condensed Statement of Cash Flows ( Unaudited)
For Nine Month Period Ended 31 March 2022

Amount In BDT
Particulars July 2021 to July 2020 to
March 2022 March 2021

A. Cash Flows from Operating Activities :

Cash Received from Customers 2,227,983,429 1,958,888,275

Cash paid to Suppliers (1,021,981,894) (693,092,360)
Cash Payment for Operating Expenses (1,000,698,539) (1,132,379,179)
Cash Generated from Operation 205,302,997 133,416,736
Income Taxes Paid (34,715,817) (47,689,344)
Net Cash Generated/(Used) from Operating Activities 170,587,179 85,727,391

B. Cash Flows from Investing Activities :

Acquisition of Property, Plant & Equipment (60,955,864) (675,337,727)

Capital Work in Progress (3,011,174,791) (1,899,137,673)
Investment in Subsidiaries, Associate, Securities & Others 17,863,760 (1,236,435,325)
Interest, Dividend & Other Income 428,769,223 29,910,237
Net Cash Received/(Used) from Investing Activities (2,625,497,673) (3,781,000,488)

C. Cash Flows from Financing Activities :

Long Term Loan Received/ (Repaid) 2,744,570,389 3,686,947,236

Short Term Loan Received/ (Repaid) 480,431 (2,043,554)
Lease obligation (9,737,885) (4,783,710)
Dividend paid (324,285,490) (356,927,538)
Interest Paid (52,731,173) (65,730,813)
Net Cash Received/(Used) from Financing Activities 2,358,296,271 3,257,461,621

Net Increase /(Decrease) in Cash & Cash Equivalents (A+B+C) (96,614,222) (437,811,475)
Cash & Cash Equivalents at the beginning of the period 200,606,704 630,358,211
Cash & Cash Equivalents at the end of the period 103,992,482 192,546,736

Number of Shares Used to Compute NOCFPS 234,000,000 234,000,000

Operating Cash Flow Per Share 33a.1 0.73 0.37

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 ORION PHARMA LIMITED AND ITS SUBSIDIARIES
Selected Explanatory Notes to the Condensed Consolidated Financial Statements
For Nine Month Period Ended 31 March 2022 (Third Quarter)

1 Reporting Entity
1.1 Background of the Entity
Orion Pharma Limited, earlier called Orion Laboratories Limited was incorporated in 1965 as a private limited
company. The Company was converted into a public limited company on 24 July 2010. The registered office of
the company is at 153-154, Tejgaon I/A, Dhaka-1208, Bangladesh.
The Company is listed both with Dhaka Stock Exchange Limited (DSE) and Chittagong Stock Exchange Limited
(CSE) on 20 March 2013.
1.2 Nature of Business

Orion Pharma Limited is engaged in the creation and discovery, development, manufacturing and marketing of
pharmaceutical products including vaccines and health- related consumer products.
1.3 Subsidiary Companies

1.3.1 Orion Power Meghnaghat Limited

Orion Power Meghnaghat Ltd. was incorporated on 30 June 2010 as a public limited company under the
Companies Act, 1994 with authorized share capital of Tk. 4,000,000,000 divided into 400,000,000 Ordinary shares
of Tk. 10 each. The company implemented a 100 MW HFO Power based Plant on quick rental basis in
Meghnaghat, Dhaka with machineries and equipment supplied by Wartsila OY, Finland. The generated output of
105 MW electricity is being regularly supplied to national grid. Orion Pharma Ltd. holds 95% of equity share of
this company directly.

1.3.2 Dutch Bangla Power & Associates Limited

Dutch Bangla Power & Associates Ltd. was incorporated on 1 July 2010 as a public limited company under the
Companies Act, 1994 with authorized share capital of Tk. 1,000,000,000 divided into 100,000,000 ordinary shares
of Tk. 10 each. The Company was awarded by the Government of Bangladesh and BPDB to implement 100 MW
HFO Power Plant on quick rental basis in Siddhirganj, Narayanganj with machineries and equipment supplied
by Wartsila OY, Finland. The generated output of 105 MW electricity is being regularly supplied to national grid.
Orion Pharma Ltd. holds 67% of equity share of this Company.
1.4 Associate Company
Orion Infusion Limited
Orion Infusion Limited is a public limited company incorporated in Bangladesh on May 05, 1983 and is now
operating under the banner of Orion Group. Other shareholders of the company are sponsor shareholders,
foreign investors, financial institutions and general public.
The Company was listed with Dhaka Stock Exchange Limited (DSE) on 05 October 1994 and Chittagong Stock
Exchange Limited (CSE) on 22 September 1996. Orion Pharma Ltd. holds 21.76 % of equity share of this company
directly.

2 Basis of Preparation

2.1 Statement of Compliance

These Condensed Interim Financial Statements of the company comprised the company’s and its subsidiaries
(together referred to as the 'Group' and individually as 'Group entities') and the Group’s interest in associates
have been prepared in accordance with International Financial Reporting Standards (IFRSs) adopted by the
Institute of Chartered Accountants of Bangladesh (ICAB), in particular International Accounting Standard (IAS)
34: Interim Financial Reporting , the Companies Act 1994, Securities and Exchange Rules 1987 and other
applicable laws and regulations.

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 2.2 Components of the Condensed Financial Statements
According to IAS-34 'Interim Financial Reporting,', these interim financial statements include the following
components-
i. Condensed Consolidated Statement of Financial Position
ii. Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
iii. Condensed Consolidated Statement of Changes in Equity
iv. Condensed Consolidated Statement of Cash Flows
v. Selected Explanatory Notes to the Condensed Consolidated Financial Statements

2.3 Basis of Measurement

The financial statements have been prepared on historical cost basis except for certain assets which are stated
either at revalued amount or fair market value.
2.4 Functional and Presentation Currency
The financial statements are prepared and presented in Bangladesh Taka (Taka/Tk./BDT), which is the
company’s functional and presentation currency. All amounts have been rounded off to the nearest integer.

2.5 Reporting Period

These Condensed Interim Financial Statements of the company cover period from 1 July 2021 to 31 March 2022.

2.6 Events after the reporting period

Information regarding subsidiary companies

Orion Power Meghnaghat Limited and Dutch Bangla Power & Associates Limited are the subsidiary Companies
of Orion Pharma Limited. The contract between Bangladesh Power Development Board and Orion Power
Meghnaghat Limited for supplying electricity to the national grid has expired in May 2021 and Dutch Bangla
Power & Associates Limited was expired in July 2021.

The companies applied to the Government of Bangladesh to extend the contract period for supplying electricity
and both companies recently got permission to generate electricity for further two years.

3 Accounting Policies and Methods of Computations

The accounting policies and methods of computations followed in preparing these financial statements are same
as those used in the annual financial statements prepared and published for the year ended 30 June 2021.

4 Subsequent Events
No material events occurred after the reporting date, non-disclosure of which could affect the ability of the users
of the financial statements to make proper evaluation and decision.

5 Acquisition of Property, Plant & Equipments of Orion Pharma Ltd. and its subsidiaries during the Period.

Discloser as per BSEC Notification No. BSEC/CMRRCD/2006-158/208/Admin/81, Dated: 20 June 2018.

Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
i Land & Land Development 18,936,000 230,046,930
ii Factory & Office Building - 5,218,137
iii Furniture & Fixtures 10,266,055 14,292,384
iv Office Equipment 18,476,804 27,174,024
v Vehicles - 2,350,000
Total 47,678,859 279,081,475

11
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
6. Property, plant and equipment
Opening balance 14,219,821,108 14,930,942,237
Add: Addition during the period 47,678,859 279,081,475
14,267,499,967 15,210,023,712
Less: Depreciation charged during the period (246,305,578) (990,202,605)
Written down value 14,021,194,389 14,219,821,108

6a. Property, plant and equipment

Opening balance 7,746,013,649 7,860,572,660
Add: Addition during the period 47,159,257 275,726,745
7,793,172,907 8,136,299,405
Less: Depreciation charged during the period (214,203,065) (390,285,756)
Written down value 7,578,969,841 7,746,013,649

7. Right of use assets

Opening Balance 106,698,236 77,807,019

Add: Addition during the period 13,796,607 31,689,566
120,494,843 109,496,585
Less: Disposal/ adjustment 2,798,349
120,494,843 106,698,236

Opening balance 55,886,807 27,459,166

Less: Depreciation charged during the period 17,443,785 28,427,641
73,330,592 55,886,807

Written down value 47,164,251 50,811,429

8. Construction work in progress
Opening balance 5,584,939,176 1,651,460,156
Add: Addition during the period 3,011,174,791 3,933,479,021
8,596,113,968 5,584,939,176

9. Investment in subsidiaries
Share holding Amount in Taka
Number of
Name of the subsidiary company (%)
shares 31-Mar-22 30-Jun-21
Orion Power Meghnaghat Ltd. 95,000,000 95.00 950,000,000 950,000,000
Dutch Bangla Power & Associates Ltd. 6,700,000 67.00 67,000,000 67,000,000
Total 1,017,000,000 1,017,000,000

Investment in subsidiaries are stated at cost.

10. Investment in associate

Orion Infusion Limited

Opening balance 303,455,000 319,403,000
Add: Share of profit during the period 6,334,900 6,069,100
Less: Dividend during the period - (4,430,000)
Add: Share of other comprehensive income 222,650 647,072
Add: Fair value adjustment 72,296,450 (18,234,172)
382,309,000 303,455,000

12
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
11. Other investment
Investment in marketable securities (Note 11.1) 36,618,169 29,250,714
Investment in non-Quoted Shares (Note 11.2) 5,921,740,676 5,921,740,676
5,958,358,845 5,950,991,390
11.1 Investment in marketable securities
AB Investment Limited. 19,848,464 16,564,154
Bank Asia Securities Limited. 7,346,215 5,358,524
LankaBangla Securities Ltd. 9,423,490 7,328,036
36,618,169 29,250,714
11.2 Investment in non-quoted shares
Orion Power Khulna Limited. 500,000 500,000
Orion Power Dhaka Limited. 500,000 500,000
ICB Islami Bank Limited 246,000 246,000
Orion Infrastructure Limited. 2,117,209,676 2,117,209,676
Energon Renewable (BD) Ltd. 1,500,000 1,500,000
Orion Power Unit - 2 Dhaka Ltd. 3,801,785,000 3,801,785,000
5,921,740,676 5,921,740,676
11a Other investment
Investment in marketable securities (Note 11a.1) 36,618,169 29,250,714
Investment in non-Quoted Shares (Note 11a.2) 2,120,240,676 2,120,240,676
2,156,858,845 2,149,491,390
11a.1 Investment in marketable securities
AB Investment Limited. 19,848,464 16,564,154
Bank Asia Securities Limited. 7,346,215 5,358,524
LankaBangla Securities Ltd. 9,423,490 7,328,036
36,618,169 29,250,714

11a.2 Investment in non-quoted shares

Orion Power Khulna Limited. 500,000 500,000
Orion Power Dhaka Limited. 500,000 500,000
ICB Islami Bank Limited 246,000 246,000
Orion Infrastructure Limited. 2,117,209,676 2,117,209,676
Orion Power Unit - 2 Dhaka Ltd. 1,785,000 1,785,000
2,120,240,676 2,120,240,676
12. Inventories
Raw materials 305,013,143 153,608,779
Packing materials 95,288,804 43,386,793
Work-in-process 26,836,895 31,834,113
Finished goods 115,145,081 92,875,945
Printing Stationeries 15,696,901 8,316,971
Promotional materials 9,737,104 14,322,674
Spare parts 611,585,463 613,524,380
Inventory HFO & LFO 396,087,767 406,517,746
1,575,391,158 1,364,387,400
12.a Inventories
Raw materials 305,013,143 153,608,779
Packing materials 95,288,804 43,386,793
Work-in-process 26,836,895 31,834,113
Finished goods 115,145,081 92,875,945
Printing Stationeries 15,696,901 8,316,971
Promotional materials 9,737,104 14,322,674
567,717,928 344,345,275

13
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
13. Trade & other receivables
Trade receivables 1,081,279,354 3,943,148,046
Other receivables (Note-13.1) 8,316,118,993 8,458,309,454
9,397,398,348 12,401,457,500

Trade receivables are unsecured, considered good and recoverable within one year. Classification schedules as
required by schedule XI of Companies Act 1994 are as follows:
Ageing of the above balance is as follows:
Below 180 days 1,081,279,354 3,943,148,046
Above 180 days - -
1,081,279,354 3,943,148,046

Amount in Taka
SL. No. Particulars
31-Mar-22 30-Jun-21
I Trade receivables considered good in respect of which the company is 1,081,279,354 3,943,148,046
II fully
Tradesecured
receivables considered good in respect of which the company holds
no security other than the debtor personal security - -

III Trade receivables considered doubtful or bad - -

IV Trade receivables due by any director or other officer of the company - -
V Trade receivables due by common management - -
VI The maximum amount of receivable due by any director or other officer - -
of the company Total 1,081,279,354 3,943,148,046

13.1 Other receivables

Claim receivables, insurance & others 5,256,516 4,709,338
Divided receivable - 4,430,000
Interest on FDR 658,185 289,684
Other receivables 1,151,669,195 816,658,511
Current account with other related companies (Note. 13.1.1) 7,158,535,097 7,632,221,921
8,316,118,993 8,458,309,454
13.1.1 Current account with other related companies

Noakhali Gold Food Ltd. 10,859,928 10,859,928

Orion Properties Ltd. 22,101,089 22,101,089
Orion Gas Limited 49,200,000 49,200,000
Orion Power Khulna Ltd. 986,021,913 986,021,913
Orion Power Dhaka Ltd. 2,249,900,784 2,261,945,784
Jafflong Tea Company 2,408,371 2,408,371
Orion Agro Product 251,418,758 240,118,758
Interior Accom Consortium Limited 74,838,459 74,838,459
Digital Power & Associate Ltd. 681,979,662 678,701,956
Orion Footwear Ltd. 108,662,162 108,662,162
Orion Oil & Shipping Ltd. - 156,023,852
Orion Power Unit 2 Dhaka Ltd. 1,386,147,677 1,518,974,228
Orion Home Appliance Ltd. 117,807,496 117,848,000
Orion Hospitals Ltd. 17,700,000 17,500,000
Orion Power Rupsha Ltd. 265,822,069 264,322,069
Energon Renewable (BD) Ltd. 725,231,730 914,260,353
Orion Quaderia Textiles Limited 130,000,000 130,000,000
Orion Natural Care Ltd. 78,435,000 78,435,000
7,158,535,097 7,632,221,921

14
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
13.a Trade & other receivables
Trade receivables 186,579,265 161,026,784
Other receivables (Note - 13a.1) 7,376,451,718 7,402,438,017
7,563,030,983 7,563,464,801

Trade receivables are unsecured, considered good and recoverable within one year. Classification schedules as
required by schedule XI of Companies Act 1994 are as follows:

Ageing of the above balance is as follows:

Below 180 days 186,579,265 161,026,784
Above 180 days - -
186,579,265 161,026,784

Amount in Taka
SL No Particulars
31-Mar-22 30-Jun-21
I Trade receivables considered good in respect of which the company is 186,579,265 161,026,784
II fully secured
Trade receivables considered good in respect of which the company holds -
no security other than the debtor personal security
III Trade receivables considered doubtful or bad -
IV Trade receivables due by any director or other officer of the company -
V Trade receivables due by common management -
VI The maximum amount of receivable due by any director or other officer -
of the company Total 186,579,265 161,026,784

13a.1 Other receivables

Claim receivables, insurance & others 5,256,516 4,709,338

Divided receivable - 4,430,000
Interest on FDR 658,185 289,684
Other receivables 1,151,669,195 726,658,511
Current account with subsidiaries (13a.1.1) 372,395,908 369,895,908
Current account with other related companies (13a.1.2) 5,846,471,914 6,296,454,575
7,376,451,718 7,402,438,017
13a.1.1 Current account with subsidiaries

Dutch Bangla Power & Associates Limited. 372,395,908 369,895,908

372,395,908 369,895,908

13a.1.2 Current account with other related companies

Orion Properties Ltd. 20,331,532 20,331,532
Orion Power Khulna Ltd. 986,021,913 986,021,913
Orion Power Dhaka Ltd. 2,176,293,707 2,176,293,707
Interior Accom Consortium Ltd. 107,995,459 107,995,459
Orion Agro Product Ltd. 243,565,920 232,265,920
Orion Power Unit -2 Dhaka Ltd. 1,086,454,738 1,358,708,776
Orion Power Rupsha Ltd. 186,800,000 186,800,000
Digital Power & Associates Ltd. 97,341,915 97,341,915
Orion Hospitals Ltd. 12,700,000 12,700,000
Energon Renewables (BD) Ltd. 740,531,730 929,560,353
Orion Home Appliances Ltd. 110,000,000 110,000,000
Orion Natural Care Ltd. 78,435,000 78,435,000
5,846,471,914 6,296,454,575

15
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
14. Advances, deposits and prepayments
Advances:
Advance income tax (Note-14.1) 201,383,449 166,583,988
Advance imprest money 133,000 85,000
Advance motor cycle 9,363,355 13,884,063
Advance - car loan 1,388,599 2,230,896
Collection advance 484,728 4,188,731
Advance to C&F agents 8,346,889 3,864,512
Advance office rent 5,140,061 5,560,830
Advance against land purchase 107,260,635 34,814,360
Advance for Impoted machinery - 364,119,356
Advance to employee 114,067,476 89,589,470
Other advance 251,470,627 94,206
Advance against Cash Purchase - 2,289,827
Import related expenses 1,060,716,553 46,344,248
Advance to Supplier 149,304,578 105,694,390
1,909,059,950 839,343,877
Deposits:
Earnest money 9,781,938 9,740,000
Security deposit 46,070,285 54,833,244
Bank guarantee 112,770,676 117,809,191
L/C Margin & Balance 384,404,651 938,347,076
Lease deposit 2,530,527 14,694,360
555,558,077 1,135,423,871
Prepayments:
Insurance premium 125,435 479,668
Bank guarantee,commission & charge 40,629,588 43,362,532
40,755,023 43,842,200

2,505,373,051 2,018,609,949

14.1 Advance income tax

Opening balance 166,583,988 133,033,784

Add: Addition during the year 34,799,461 33,550,204
Closing balance 201,383,449 166,583,988

14.a Advances, deposits & prepayments

Advances:
Advance income tax (Note -14a.1) 199,744,383 165,028,566
Advance imprest money 133,000 85,000
Motor cycle advance 9,363,355 13,884,063
Advance - car loan 1,388,599 2,230,896
Collection advance 484,728 4,188,731
Advance to C&F agents 8,346,889 3,864,512
Advance office rent 5,140,061 5,560,830
Advance against land purchase 107,260,635 34,814,360
Advance for machinery - BHF Bank - 364,119,356
Advance to Employee 106,193,660 87,353,357
Others Advance 94,206 94,206
Advance against Cash Purchase - 2,289,827
Import related expenses 1,060,716,553 46,344,248
Advance Paid to Suppliers 130,710,970 90,790,049
1,629,577,039 820,648,001

16
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
Deposits
Earnest money 9,781,938 9,740,000
Security deposit 46,070,285 54,833,244
Lease deposit 2,293,027 14,236,960
L/C Margin & Balance 223,043,482 778,829,173
281,188,731 857,639,377
1,910,765,771 1,678,287,378
14a.1 Advance income tax
Opening balance 165,028,566 131,716,484
Addition during the period 34,715,817 33,312,082
Closing balance 199,744,383 165,028,566

15. Fixed deposit with banks

Social Islami Bank Limited., Principal Branch, Dhaka. 9,292,803 8,961,570
Agrani Bank Ltd. 22,068,122 14,654,784
31,360,925 23,616,354
16. Cash & cash equivalents

Cash in hand (Note -16.1) 16,170,397 14,500,869

Cash at B/O account (Note -16.2) 9,030 16,834
16,179,427 14,517,703
Balance with banks on account
Current account 87,757,861 366,528,823
Short term deposit account 21,997,602 33,947,623
109,755,463 400,476,446

125,934,890 414,994,148

16.1 Cash in hand

Head office 9,442,414 7,678,508
Depot office 6,727,983 6,822,361
16,170,397 14,500,869
16.2 Cash at B/O account

Bank Asia Securities Limited. 3,202 -

Jahan Securities Limited. 1,974 2,424
LankaBangla Securities Ltd. 3,854 14,410
9,030 16,834

16.a Cash and cash equivalents

Cash in hand (Note -16a.1) 12,777,694 11,028,322
Cash at B/O account (Note -16a.2) 9,030 16,834
12,786,724 11,045,156
Cash at Bank:
Current account 69,208,156 155,613,926
Short term deposit account 21,997,602 33,947,623
91,205,758 189,561,548

103,992,482 200,606,704
16a.1 Cash in hand
Head office - central cash & main cash 6,049,711 4,205,961
Depot office - petty cash 6,727,983 6,822,361
12,777,694 11,028,322

17
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
16a.2 Cash at B/O account
Bank Asia Securities Limited 3,202 -
Jahan Securities Limited 1,974 2,424
LankaBangla Securities Ltd. 3,854 14,410
9,030 16,834
17. Share capital
Authorized capital
500,000,000 ordinary shares of Tk. 10 each 5,000,000,000 5,000,000,000

Issued, subscribed and paid-up capital

234,000,000 ordinary shares of Tk. 10 each 2,340,000,000 2,340,000,000

Shareholding position of the company

Number of Number of % of holding
Range of Shareholding
Shareholders Shares 31-Mar-22 30-Jun-21
Up to 500 Shares 23,758 3,022,826 1.29% 1.24%
501 to 5,000 Shares 6,496 12,499,622 5.34% 6.06%
5001 to 10,000 Shares 1,122 8,395,703 3.59% 4.00%
10,001 to 20,000 Shares 668 9,853,344 4.21% 4.04%
20,001 to above 759 200,228,505 85.57% 84.66%
Total 32,803 234,000,000 100% 100%

Number of Number of % of holding

Categories of shareholders
Shareholders Shares 31-Mar-22 30-Jun-21
Sponsors 5 74,841,600 31.98% 31.98%
Foreign Investor 789 2,702,288 1.15% 1.21%
Financial institutions 465 57,645,841 24.63% 37.87%
General public 31,544 98,810,271 42.23% 28.94%
Total 32,803 234,000,000 100% 100%

Number of Face Value % of holding

Orion Power Meghnaghat Limited
Shares in BDT 31-Mar-22 30-Jun-21
Orion Pharma Limited 95,000,000 950,000,000 95.00% 95.00%
Integral Energy Limited 3,000,000 30,000,000 3.00% 3.00%
Jafflong Tea Company Limited 500,000 5,000,000 0.50% 0.50%
Mr. Mohammad Obaidul Karim 500,000 5,000,000 0.50% 0.50%
Mr. Salman Obaidul Karim 600,000 6,000,000 0.60% 0.60%
Mrs. Arzuda Karim 350,000 3,500,000 0.35% 0.35%
Haarhuis Generation B.V. 50,000 500,000 0.05% 0.05%
Total 100,000,000 1,000,000,000 100% 100%

Dutch Bangla Power & Associates Number of Face Value % of holding

Limited Shares in BDT 31-Mar-22 30-Jun-21
Orion Pharma Limited 6,700,000 67,000,000 67.00% 67.00%
Shenzhen Nanshan Power Co. Ltd. 50,000 500,000 0.50% 0.50%
Mohammad Obaidul Karim 100,000 1,000,000 1.00% 1.00%
Salman Obaidul Karim 3,087,500 30,875,000 30.88% 30.88%
Orion Tea Company Ltd. 50,000 500,000 0.50% 0.50%
Jafflong Tea Co. Ltd. 2,500 25,000 0.03% 0.03%
Mrs. Arzuda Karim 10,000 100,000 0.10% 0.10%
Total 10,000,000 100,000,000 100% 100%

18
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
18. Reserves

Fair value gain/(loss) on investment in associate (Note -18.1) 291,238,219 218,941,769

Fair value gain /(loss) on marketable securities (Note -18.2) (5,736,574) (12,027,113)
Share of other comprehensive income of associate (Note - 18.3) 6,617,850 6,395,201
Revaluation surplus on property, plant and equipment (Note -18.4) 1,685,628,101 1,691,542,515
1,977,747,597 1,904,852,372

18.1 Fair value gain on investment in associate

Opening balance 218,941,769 237,175,941

Fair value gain/ (loss) during the period 72,296,450 (18,234,172)
291,238,219 218,941,769

18.2 Fair value gain/(loss) on marketable securities

Opening balance (12,027,113) (22,090,059)
Adjustment of sale of marketable securities (78,114) 5,925,574
Fair value gain/(loss) on marketable securities (Note - 18.2.1) 7,067,602 5,255,477
Transferred to deferred tax assets/(liabilities) (698,949) (1,118,105)
(5,736,574) (12,027,113)

18.2.1 Fair value gain/(loss) on marketable securities during the period

Unrealized gain/(loss) position (closing) (6,373,970) (13,363,458)
Unrealized gain/(loss) position (opening) (13,363,458) (24,544,509)
Total change during the period 6,989,488 11,181,051
Fair value adjustment for sale of securities (realized loss) 78,114 (5,925,574)
Unrealized gain/(loss) during the period 7,067,602 5,255,477

18.3 Share of other comprehensive income

Opening balance 6,395,201 5,748,129
Add: Addition during the period 222,650 647,072
6,617,850 6,395,201

18.4 Revaluation surplus on property, plant & equipment

Opening balance 1,691,542,515 1,715,759,107

Adjustment during the period to retained earnings for depreciation (6,891,806) (25,690,036)
Adjustment of deferred tax on revaluation surplus 977,392 1,473,444
1,685,628,101 1,691,542,515

18.a Reserve

Fair value gain on investment in associates (Note - 18a.1) 291,238,219 218,941,769

Fair value gain/(loss) on marketable securities (Note - 18a.2) (5,736,573) (12,027,112)
Share of other comprehensive income (Note - 18a.3) 6,617,850 6,395,201
Revaluation surplus on property, plant & equipment (Note - 18a.4) 1,317,957,056 1,323,495,609
1,610,076,553 1,536,805,467

18a.1 Fair value gain on investment in associates

Opening balance 218,941,769 237,175,941
Fair value gain/(loss) during the period 72,296,450 (18,234,172)
291,238,219 218,941,769

19
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
18a.2 Fair value gain/(loss) on marketable securities
Opening balance (12,027,112) (22,090,058)
Adjustment of sale of marketable securities (78,114) 5,925,574
Fair value gain/(loss) on marketable securities DP (Note - 18a.2.1) 7,067,602 5,255,477
Transferred to deferred tax assets/(liabilities) (698,949) (1,118,105)
(5,736,573) (12,027,112)
18a.2.1 Fair value gain/(loss) on marketable securities during the period
Unrealized gain/(loss) position (closing) (6,373,970) (13,363,458)
Unrealized gain/(loss) position (opening) (13,363,458) (24,544,509)
Fair value adjustment for sale of securities realized 78,114 (5,925,574)
Unrealized gain/(loss) during the period 7,067,602 5,255,477

18a.3 Share of other comprehensive income

Opening balance 6,395,201 5,748,128
Add: Addition during the period 222,650 647,072
6,617,850 6,395,201

18a.4 Revaluation surplus on property, plant & equipment

Opening balance 1,323,495,609 1,331,845,122
Adjustment during the year to retained earnings for depreciation (6,515,944) (9,822,957)
Adjustment of deferred tax on revaluation surplus 977,392 1,473,444
1,317,957,056 1,323,495,609
19. Retained earnings
Opening balance 6,400,990,484 5,670,236,252
Net profit after tax 718,050,413 939,064,196
Dividend for the period (280,800,000) (234,000,000)
Adjustment for depreciation on revaluation surplus 6,891,806 25,690,036
6,845,132,703 6,400,990,484
19.a Retained Earnings
Opening balance 518,496,227 457,550,939
Net profit after tax 575,015,844 285,122,331
Dividend for the period (280,800,000) (234,000,000)
Adjustment for depreciation on revaluation surplus 6,515,944 9,822,957
819,228,015 518,496,227
20. Non-controlling interest
Opening balance 1,411,671,307 1,225,990,411
Share of operating profit 38,905,618 185,680,896
Closing balance 1,450,576,925 1,411,671,307
21 Long term loans
Meridian finance & Investment Ltd. - 2,528,812
Phoenix Finance & Investment Ltd. 181,262,373 204,083,029
Agrani Bank Ltd. -BMRE 3,831,323,011 3,659,628,747
Social Islami Bank Ltd 1,588,928,181 1,550,425,073
Term Loan -SBLC Agrani Bank Ltd 2,536,109,550 2,536,109,550
Term Loan Capital Machinery 2,208,839,686 1,128,730,942
AL-Arafa Islami Bank Ltd. 1,997,102,400 1,902,022,581
ODDO BHF AG Finance 978,606,639 735,203,573
Rupali Bank Ltd. 2,169,824,851 1,028,693,995
Mashreq bank PSC 2,542,274,472 3,456,437,544
18,034,271,163 16,203,863,846
Less: Current portion of long term loan (Note 21.1) (341,341,201) (274,326,280)
17,692,929,962 15,929,537,566

20
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
21.1 Current portion of long term loan

Meridian Finance & Investment Ltd. - 2,528,812

Phoenix Finance & Investment Ltd. 61,739,304 61,739,304
ODDO BHF AG Finance 279,601,897 210,058,164
341,341,201 274,326,280

21.a Long term loan

Meridian Finance & Investment Ltd. - 2,528,812
Phoenix Finance & Investment Ltd. 181,262,373 204,083,029
Agrani Bank Ltd. -BMRE 3,831,323,011 3,659,628,747
Social Islami Bank Ltd 1,588,928,181 1,550,425,073
Term Loan -SBLC Agrani Bank Ltd. 2,536,109,550 2,536,109,550
Term Loan Capital Machinery - UPAS L/C 2,208,839,686 1,128,730,942
AL-Arafa Islami Bank Ltd. 1,997,102,400 1,902,022,581
ODDO BHF AG Finance 978,606,639 735,203,573
Rupali Bank Ltd. 2,169,824,851 1,028,693,995
15,491,996,691 12,747,426,302
Less: Current portion of long term loan (Note 21.a.1) (341,341,201) (274,326,280)
15,150,655,490 12,473,100,022

21.a.1 Current portion long term loan

Meridian Finance & Investment Ltd. - 2,528,812

Phoenix Finance & Investment Ltd. 61,739,304 61,739,304
ODDO BHF AG Finance 279,601,897 210,058,164
341,341,201 274,326,280

22 Lease obligation

Phoenix Finance & Investment Ltd. 14,254,419 21,836,091

Lease obligation (Office rent) 52,321,791 54,478,004
66,576,210 76,314,095
Current portion of lease obligation (22.1) (28,145,919) (36,415,462)
38,430,291 39,898,633

22.1 Current portion of lease obligation

Phoenix Finance & Investment Ltd. 13,035,912 15,457,560
Lease obligation (Office rent) 15,110,007 20,957,902
28,145,919 36,415,462

23 Deferred tax liability

Opening balance 138,284,281 142,611,072

Adjustment for deferred tax expenses /(income) (Note-23.1) 10,983,372 (3,971,453)
Adjustment for deferred tax on revaluation surplus (Note-23.2) (278,443) (355,339)
Adjustment for deferred tax on Lease (Note-23.3) (1,160,447) -
147,828,764 138,284,281

23.1 Adjustment during the period on deferred tax on PPE

Deferred tax liability on PPE (closing) 99,908,498 88,925,125
Deferred tax liability on PPE (opening) 88,925,125 92,896,578
Deferred tax expenses/(income) 10,983,372 (3,971,453)

21
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
WDV as at 31.03.2022 Amount in Taka
Particular Deferred Tax (Assets)/ Liability
Tax Base Accounting Base
31-Mar-22 30-Jun-21
Written down value of property, plant
2,918,289,997 3,362,327,765 (99,908,498) (88,925,125)
and equipment

23.2 Adjustment of deferred tax on revaluation Surplus

Deferred tax liability on revaluation surplus (Closing) (Note-23.2.1) 49,080,712 49,359,155
Deferred tax liability on revaluation surplus (Opening) 49,359,155 49,714,494
Deferred tax expenses/(income) (278,443) (355,339)

23.2.1 Adjustment of deferred tax on revaluation surplus

WDV as at 31.03.2022 Amount in Taka
Particular Deferred Tax (Assets)/ Liability
Tax Base Accounting Base
31-Mar-22 30-Jun-21
Revaluation reserved on land & land
- 1,298,728,729 (38,961,862) (38,961,862)
development
Revaluation reserved
- 56,345,695 (8,451,854) (9,137,140)
factory & office building
Revaluation reserved plant & machinery - 15,362,622 (2,304,393) (2,596,499)
Revaluation reserve on marketable
- (6,373,970) 637,397 1,336,346
securities
Total - 1,364,063,076 (49,080,712) (49,359,155)

23.3 Adjustment during the period on deferred tax on Lease

Deferred tax liability on PPE (closing) (1,160,447) -
Deferred tax liability on PPE (opening) - -
Deferred tax expenses/(income) (1,160,447) -

WDV as at 31.03.2022 Amount in Taka

Particular Deferred Tax (Assets)/ Liability
Tax Base Accounting Base
31-Mar-22 30-Jun-21
Lease-Impact of IFRS 16 - (5,157,540) 1,160,447 -

24. Shot term loans

Cash credit (Hypo) Agrani Bank Ltd. 357,541,224 357,589,783
LTR Agrani Bank Ltd.,WASA Corporate Branch 141,507,829 141,033,011
Loan against marketable securities 65,748,545 65,694,373
564,797,598 564,317,167

25 Trade and other payables

Goods suppliers & manufacturer 1,911,852,083 4,231,207,322
Other payable 318,642,658 253,373,319
Current account with inter companies (Note -25.1) 98,071,663 59,424,320
2,328,566,405 4,544,004,961

25.1 Current account with inter companies

Orion Capital Ltd. 18,420,000 18,420,000
Orion Oil & Shipping Ltd. 8,811,148 -
Orion Power Sonargaon Ltd. 70,840,515 41,004,320
98,071,663 59,424,320

22
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
25.a Trade and other payables
Goods suppliers & manufacturer 276,353,951 212,441,775
Other payables 71,451,961 89,518,706
347,805,913 301,960,481
26 Employee benefits

Workers welfare fund (Note -26.1) 12,902,723 11,104,537

Bangladesh workers welfare foundation (Note -26.2) 18,481,193 14,828,067
Workers profit participation fund (Note -26.3) 83,827,893 71,297,346
115,211,809 97,229,950
26.1 Workers welfare fund
Opening balance 11,104,537 6,567,966
Add: Addition for the period 3,653,126 5,935,950
Less: Payment during the period (1,854,940) (1,399,378)
12,902,723 11,104,537
26.2 Bangladesh workers welfare foundation
Opening balance 14,828,067 8,892,117
Add: Addition for the period 3,653,126 5,935,950
18,481,193 14,828,067

26.3 Workers profit participation fund

Opening balance 71,297,346 36,404,154
Add: Addition for the period 29,225,005 47,487,592
Less: Payment during the period (16,694,458) (12,594,400)
83,827,893 71,297,346
26.a Employee benefits
Workers welfare fund (Note -26.a.1) 5,991,071 4,192,885
Bangladesh workers welfare foundation (Note -26.a.2) 11,569,541 7,916,415
Workers profit participation fund (Note -26.a.3) 28,534,678 16,004,131
46,095,290 28,113,432

26.a.1 Workers welfare fund

Opening Balance 4,192,885 3,854,428
Addition during the period 3,653,126 1,737,835
Payment during the period (1,854,940) (1,399,378)
5,991,071 4,192,885
26.a.2 Bangladesh workers welfare foundation
Opening balance 7,916,415 6,178,580
Add: Addition for the period 3,653,126 1,737,835
11,569,541 7,916,415

26.a.3 Workers profit participation fund

Opening Balance 16,004,131 14,695,849
Addition during the period 29,225,005 13,902,682
Payment during the period (16,694,458) (12,594,400)
28,534,678 16,004,131

WPPF is charged @ 5% of net profit before tax as per labour law Act 2006 (Amended in 2018 ), whereas 80% is
allocated to "Workers profit participation fund", 10% to "Workers welfare fund" and 10% to "Bangladesh workers
welfare foundation''.

23
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
27. Accrued expenses

Salary and wages payable 77,575,389 74,421,103

Director remuneration payable 18,101,244 8,925,000
Depot expenses payable 1,791,369 2,660,352
Telephone & mobile bill payable 3,539,933 3,677,907
Payable for final settlement of employee 7,467,962 7,970,837
Utilities payable 6,042,351 6,449,775
Provision for income tax (Note 27.1) 414,869,398 262,748,141
Corporate governance audit fees - 69,000
Statutory Audit fees - 1,265,000
Interest payable on Mashreq Dubai 6,324,441 6,566,474
Retention money 3,618,657 3,618,656
Provision for gratuity 22,307,848 22,445,133
Interest payable on Phonix Finance and Investment Ltd. 30,008 795,325
Withholding VAT 20,855,154 20,206,771
Withholding tax 13,292,406 12,176,535
595,816,159 433,996,009

27.1 Provision for income tax

Opening balance 262,748,141 197,862,877

Add: Addition during the period 152,121,258 72,485,264
414,869,398 270,348,141
Less: Payment during the period - (7,600,000)
414,869,398 262,748,141

27.a Accrued expenses

Salary and wages payable 56,200,018 51,709,274
Director remuneration payable 300,000 300,000
Depot expenses payable 1,791,369 2,660,352
Telephone & mobile bill payable 3,539,933 3,677,907
Payable for final settlement of employee 7,467,962 7,970,837
Utilities payable 6,042,351 6,449,775
Provision for income tax (Note - 27.a.1) 414,869,398 262,748,140
Corporate governance audit fees - 69,000
Statutory Audit fees - 575,000
490,211,031 336,160,285

27.a.1 Provision for income tax

Opening balance 262,748,140 197,862,877

Add: Addition during the period 152,121,258 72,485,264
414,869,398 270,348,140
Less: Payment during the period - (7,600,000)
Closing balance 414,869,398 262,748,140

28. Revenue from net sales

Local sales 2,144,331,134 1,778,339,676
Export sales 109,204,776 178,170,391
Revenue from power generation (Note-28.1) 826,394,302 5,805,756,143
3,079,930,212 7,762,266,210

24
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21
28.1 Revenue from power generation
Reference rental price 71,122,581 1,984,413,601
Reference energy price (variable - O&M) 116,996,218 152,172,503
HFO received from OOSL & BPDB 644,159,171 3,685,187,111
Foreign exchange gain /(loss) (5,883,668) (16,017,071)
826,394,302 5,805,756,143
28.a Revenue from net sales

Local sales 2,144,331,134 1,778,339,676

Export sales 109,204,776 178,170,391
2,253,535,910 1,956,510,067

29 Financial expenses
Agrani Bank Limited, Cash Credit ( Hypo.) 23,612,347 23,635,923
Agrani Bank Limited, LTR 9,570,094 10,101,738
Phoenix Finance & Investments Ltd. 15,056,000 27,806,441
Meridian Finance & Investment Ltd. 1,321,666 1,117,527
Finance cost on lease obligation (Office rent) 3,197,625 3,231,262
Interest on Long Term Borrowing 57,723,985 128,193,025
Bank Charge ,commission & Fees 11,295,138 60,809,956
121,776,855 254,895,872

29a Financial expenses

Agrani Bank Limited, Cash Credit ( Hypo. ) 23,612,347 23,635,923
Agrani Bank Limited, LTR 9,570,094 10,101,738
Phoenix Finance & Investments Ltd. 15,029,441 27,644,363
Meridian Finance & Investment Ltd. 1,321,666 1,117,527
Finance cost on lease obligation (Office rent) 3,197,625 3,231,262
52,731,173 65,730,813

30. Current tax

Profit before tax 730,625,127 275,262,353
Add: Accounting depreciation 231,646,850 396,450,426
Less: Tax depreciation (268,390,601) (393,015,739)
Taxable income 693,881,376 278,697,040

Income tax provision

Taxable Amount
Particulars Taxable Income
31-Mar-22 31-Mar-21
22.5% income tax on taxable profit 657,718,849 147,986,741 58,871,690
Half of 22.5% Income tax on net profit of export sales 35,405,583 3,983,128 3,133,360
Cash Incentive from Export Sales - - 3,474,600
20% income tax on dividend received 756,944 151,389 849,000
Total 693,881,376 152,121,258 66,328,650

31 Earnings per share (EPS)

The computation is given below:
Net profit after tax 718,050,413 696,296,098
Ordinary shares outstanding during the period 234,000,000 234,000,000
Earning per share 3.07 2.98

31a Earnings per share

The computation is given below:
Net profit after tax 575,015,844 212,912,171
Ordinary shares outstanding during the period 234,000,000 234,000,000
Earnings per share 2.46 0.91

25
 Amount in Taka
SL No. Particulars
31-Mar-22 30-Jun-21

32. Net Assets Value (NAV) Per Share

Total Assets 42,640,598,824 42,333,083,454
Total Liabilities 23,460,826,498 23,670,348,571
Net Assets 19,179,772,326 18,662,734,883
No of shares 234,000,000 234,000,000
Net Assets Value (NAV) Per Share 81.96 79.76

32a Net Assets Value (NAV) Per Share

Total Assets 29,955,283,992 26,662,031,155
Total Liabilities 17,169,087,399 14,249,837,436
Net Assets 12,786,196,594 12,412,193,719
No of shares 234,000,000 234,000,000
Net Assets Value (NAV) Per Share 54.64 53.04

33. Clause No. 5 (2) (e) of Notification No. BSEC/CMRRCD/2006-158/208/Admin/81, Dated: 20 June 2018:
Reconciliation of Net operating cash flow under Indirect Method:
Particulars 31-Mar-22 31-Dec-20
Net profit before tax 725,200,906 832,851,176
Workers profit participation fund 36,531,256 41,642,559
Interest & other income (428,769,223) (29,910,237)
Financial expenses 121,776,856 254,895,873
Depreciation 263,749,362 846,669,037
Increase/(Decrease) in inventory (211,003,757) (377,172,008)
Increase/(Decrease) in receivables 2,871,889,372 (449,800,350)
Increase/(Decrease) in advance deposit & prepayments (272,047,284) (424,578,399)
Increase/(Decrease) in payable (2,343,688,922) 1,083,224,174
Increase/(Decrease) in accrued expenses 75,492,928 28,711,314
Income taxes paid (34,715,817) (47,689,344)
Net cash flow from operating Activities 804,415,677 1,758,843,795

33.1 Net operating cash flow per share 3.44 7.52

Particulars 31-Mar-22 31-Dec-20

Net profit before tax 730,625,127 275,262,353
Workers profit participation fund 36,531,256 13,763,118
Interest & other income (428,769,223) (29,910,237)
Financial expenses 52,731,173 65,730,813
Depreciation 231,646,850 396,450,426
Increase/(Decrease) in inventory (223,372,653) (75,494,505)
Increase/(Decrease) in receivables (25,552,481) 2,378,208
Increase/(Decrease) in advance, deposit & prepayments (197,762,575) (472,561,974)
Increase/(Decrease) in payable 45,845,432 (51,312,999)
Increase/(Decrease) in accrued expenses (16,619,910) 9,111,532
Income taxes paid (34,715,817) (47,689,344)
Net cash flow from operating activities 170,587,179 85,727,391

33a.1 Net operating cash flow per share 0.73 0.37

Sd/- Sd/- Sd/- Sd/- Sd/-

Chairman Managing Director Director Chief Financial Officer Company Secretary

26