OLYMPIC INDUSTRIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2021
Amount in Taka
Particulars Notes
30 September 2021 30 June 2021
ASSETS Taka Taka
Non-current Assets:
Property, Plant & Equipment 03 3,112,150,689 3,203,655,631 (2.86)
(at cost less accumulated depreciation )
Intangible Assets 1 1 -
Capital Work-in-progress 1,468,734,611 1,444,130,271 1.70
Right-of-Use Asset (RoU), Net 04 24,453,691 29,344,429 (16.67)
4,605,338,992 4,677,130,332 (1.53)
Current Assets:
Inventories 05 2,142,309,965 1,948,500,098 9.95
Trade & Other Receivables 06 341,560,145 463,390,701 (26.29)
Advances, Deposits & Pre-payments 990,871,170 891,386,021 11.16
Investments 07 4,378,530,412 4,385,446,920 (0.16)
Cash & Cash Equivalents 08 673,739,700 768,925,893 (12.38)
8,527,011,392 8,457,649,633 0.82
Total Assets 13,132,350,384 13,134,779,965 (0.02)
EQUITY & LIABILITIES
Shareholders' Equity:
Share Capital 09 1,999,388,860 1,999,388,860 -
Retained Earnings 7,652,589,554 7,239,860,546 5.70
(As per Statement of Changes in Shareholders' Equity)
9,651,978,414 9,239,249,406 4.47
Non-current Liabilities:
Long-term Loan - Non- Current Portion 306,717,974 338,530,721 (9.40)
Lease Finance - Non- Current Portion 5,515,926 10,909,581 (49.44)
Deferred Tax Liability 10 168,075,295 178,241,283 (5.70)
480,309,195 527,681,585 (8.98)
Total Equity & Non - current Liabilities 10,132,287,609 9,766,930,991 3.74
Current Liabilities & Provisions:
Short-term Loans and Overdraft 1,038,617,477 1,358,356,167 (23.54)
Long-term Loans-Current Portion 212,167,260 258,503,969 (17.92)
Lease Finance-Current Portion 21,251,648 20,789,078 2.23
Interest Payable 1,043,697 1,119,809 (6.80)
Trade Payable 594,953,597 663,663,597 (10.35)
Liabilities for Services 522,275 6,446,460 (91.90)
Liabilities for Expenses 188,242,617 61,021,398 208.49
Advance against Sales 334,681,657 313,535,229 6.74
Liabilities for Other Finance 240,627,649 157,148,047 53.12
Provision for Current Tax 12 3,099,202 37,555,119 (91.75)
Unclaimed Dividend 11 148,534,464 311,917,777 (52.38)
Employee Benefit Obligations 216,321,232 177,792,324 21.67
3,000,062,775 3,367,848,974 (10.92)
Total Liabilities 3,480,371,970 3,895,530,559 (10.66)
Total Equity & Liabilities 13,132,350,384 13,134,779,965 (0.02)

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

Mubarak Ali Tanveer Ali Rokeya Quader Begum Sakwat Banu Md. Harun-Al-Rashid Md. Nazimuddin
Managing Director Director Independent Director Independent Director Chief Financial Officer Company Secretary

Dated, Dhaka
14 November 2021

1
 OLYMPIC INDUSTRIES LIMITED
STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME
For the Period From 01 July 2021 To 30 September 2021

Notes 30 September 2021 30 September 2020

Revenue 13 4,965,504,895 4,658,668,374

Cost of Sales 14 (3,666,448,479) (3,294,486,807)

Gross Profit 1,299,056,416 1,364,181,567

Operating Expenses (780,913,849) (658,688,006)

Administrative expenses (92,310,651) (88,135,028)
Selling expenses (688,603,198) (570,552,978)

Profit from Operations 518,142,567 705,493,562

Finance cost 15 (25,699,789) (27,686,701)

492,442,778 677,806,861

Other income 16 76,001,569 125,670,061

568,444,347 803,476,921

Net changes during the period in fair value of Investment in Shares 07.01 (234,148) 2,689,575

568,210,199 806,166,496

Contribution to Workers Profit Participation & Welfare Fund (27,057,629) (38,388,881)

Profit Before Tax 541,152,570 767,777,616

Current Tax 12.01 (138,589,550) (200,079,016)

Deferred Tax (Expenses) / Income 10 10,165,988 2,385,601

(128,423,562) (197,693,415)

Profit after Taxation TK. 412,729,008 570,084,200

Other Comprehensive Income - -

412,729,008 570,084,200

Basic & Diluted Earnings Per Share (EPS) 2.06 2.85

(Par value Tk.10/- )

Number of Shares used to Compute EPS 199,938,886 199,938,886

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

Mubarak Ali Tanveer Ali Rokeya Quader Begum Sakwat Banu Md. Harun-Al-Rashid Md. Nazimuddin
Managing Director Director Independent Director Independent Director Chief Financial Officer Company Secretary

Dated, Dhaka
14 November 2021

2
 OLYMPIC INDUSTRIES LIMITED
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
For the Period From 01 July 2021 To 30 September 2021

Amount in Taka

Share Capital Retained Earnings Total

Taka Taka

Balance as on 01 July 2020 1,999,388,860 6,242,179,551 8,241,568,411

Net Profit for the 1st quarter Ended September 30,2020 570,084,200 570,084,200

Balance as on 30 September 2020 Tk. 1,999,388,860 6,812,263,751 8,811,652,611

Number of shares 199,938,886

Net Asset Value (NAV) Per Share 44.07

Balance as on 01 July 2021 1,999,388,860 7,239,860,546 9,239,249,406

Net Profit for the 1st quarter Ended September 30,2021 - 412,729,008 412,729,008

Balance as on 30 September 2021 Tk. 1,999,388,860 7,652,589,554 9,651,978,414

Number of shares 199,938,886

Net Asset Value (NAV) Per Share 48.27

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

Mubarak Ali Tanveer Ali Rokeya Quader Begum Sakwat Banu Md. Harun-Al-Rashid Md. Nazimuddin
Managing Director Director Independent Director Independent Director Chief Financial Officer Company Secretary

Dated, Dhaka
14 November 2021

3
 OLYMPIC INDUSTRIES LIMITED
STATEMENT OF CASH FLOWS
For the Period From 01 July 2021 To 30 September 2021

30 September 2021 30 September 2020 Changes(%)

A. Cash Flows from Operating Activities : Taka Taka

Cash received from Customers & Others 5,130,160,069 4,759,062,698 7.80
Cash paid to Suppliers & Employees (4,530,362,708) (3,986,696,650) 13.64

Cash Generated from Operation 599,797,361 772,366,048 (22.34)

Bank Charges (1,094,638) (1,593,224) (31.29)

Income Taxes paid (173,045,467) (181,903,539) (4.87)
Net Cash generated from Operating Activities 20.01 425,657,256 588,869,285 (27.72)

B. Cash Flows from Investing Activities :

Acquisition of Capital Assets (20,041,117) (22,169,904) (9.60)
Capital Work in Progress (24,604,340) (11,790,969) 108.67
Advance for Commercial Space (30,000,000) (30,000,000) -
Investments 8,435,662 (2,105,398) (500.67)
Interest Received 52,770,551 87,152,420 (39.45)
Net Cash Used in Investing Activities (13,439,244) 21,086,149 (163.73)

C. Cash Flows from Financing Activities:

Short-term loans (319,738,690) 245,485,259 (230.25)
Long-term loans (78,149,456) (99,494,999) (21.45)

Interest Paid (24,681,263) (26,202,772) (5.81)

Lease finance (4,931,085) (4,508,186) 9.38
Liabilities for other finance 83,479,602 34,658,657 140.86
Dividend Paid & transferred to Capital Market Stabilization Fund (163,383,313) (876,067) 18,549.64

Net Cash Used in Financing Activities (507,404,205) 149,061,892 (440.40)

Increase/(Decrease) in Cash & Cash Equivalents (A+B+C) (95,186,193) 759,017,326 (112.54)

Cash & Cash Equivalents at Opening 768,925,893 675,271,818 13.87

D. Effects of foreign exchange rate changes

on the balance of cash held in foreign
currencies - -
Cash & Cash Equivalents at Closing 673,739,700 1,434,289,144 (53.03)

Number of shares used to compute Net Operating Cash Flow per share 199,938,886 199,938,886

Net Operating Cash Flow per share 2.13 2.95

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

Mubarak Ali Tanveer Ali Rokeya Quader Begum Sakwat Banu Md. Harun-Al-Rashid Md. Nazimuddin
Managing Director Director Independent Director Independent Director Chief Financial Officer Company Secretary

Dated, Dhaka
14 November 2021 4
 OLYMPIC INDUSTRIES LIMITED
Notes to the financial statements
For the Period From 01 July 2021 To 30 September 2021
01. Company information
a) Legal form of the enterprise
Olympic Industries Limited (here-in-after referred to as 'Company') is a company incorporated and domiciled as a public limited
company. The company was originally incorporated in Bangladesh in the name of 'Bengal Carbide Limited' on 26 June 1979, bearing
registration number C-7096/826 of 1978-1979.
Subsequently in June 1996, the company's name was changed to 'Olympic Industries Limited'.
It commenced commercial operation in 1982 and went for public issue of shares in 1984. The shares of the company are
now listed with Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd. in Bangladesh.

b) Nature of business activities and significant events

The company is engaged in manufacturing and marketing of dry cell batteries, biscuits, candies, confectionery items,. The
products are sold in local market as well as in abroad.

However, plastic products and cartons are also produced by the company, which are mainly used for its own
consumption.

c) Address of Registered Office, Corporate Office and Factories.

The Registered Office of the company is at Lolati, Kanchpur, P.S. Sonargaon in the district of Narayanganj.
The Corporate Office of the Company is at 62-63 Motijheel Commercial Area, Dhaka-1000.
The factories of the company are located at Kanchpur and Lolati respectively under P.S. Sonargaon & Bondar both in the
district of Narayanganj.
02. Disclosure of compliance with IFRSs
Accounting period and applicable reporting on accounting policies & methods of computation :
* These financial statements cover the period from 01 July 2021 to 30 September 2021.
* The interim financial report is in compliance with IAS 34: Interim Financial Reporting.
* In the preparation of these statements, the same accounting policies and methods of
computation as were adopted for the financial statements for the year ended 30 June 2021,
have been followed for the same for the period under review.
* The Accounting & Financial Reporting Standards that are applicable for the financial
statements of the company, include the following:
IAS 1: Presentation of Financial Statements
IAS 2: Inventories
IAS 7: Statement of Cash Flows
IAS 8: Accounting Policies, Changes in accounting Estimates and Errors
IAS 10: Events after the Reporting Period
IAS 12: Income Taxes
IAS 16: Property, Plant and Equipment
IAS 19: Employee Benefits
IAS 20: Accounting for Government Grants and Disclosure for Government Assistance
IAS 21: The Effects of Changes in Foreign Exchange Rates
IAS 23: Borrowing Costs
IAS 24: Related Party Disclosures
IAS 26: Accounting and Reporting by Retirement Benefit Plans
IAS 32: Financial Instruments: Presentation
IAS 33: Earnings per Share
IAS 36: Impairment of Assets
IAS 37: Provisions, Contingent Liabilities and Contingent Assets
IAS 38: Intangible Assets
IAS 39: Financial Instruments: Recognition and Measurement
IFRS 5: Non-Current Assets Held for Sale and Discontinued Operations
IFRS 7: Financial Instruments: Disclosures
IFRS 8: Operating Segments
IFRS 9: Financial Instruments
IFRS 13: Fair Value Measurement
IFRS 15: Revenue from Contracts with Customers
IFRS 16: Leases

5
 Amount in Taka
30 September 30 June
03. Non-current assets : 2021 2021
A) Tangible fixed assets at 30 September 2021 (Book Value)
Land & Land development 529,311,051 529,311,051
Factory buildings & civil constructions 1,118,086,190 1,146,506,319
Plant & machinery 1,385,107,089 1,443,113,137
Office equipment 9,925,769 10,156,460
Furniture & fixtures 18,596,746 19,215,705
Transport & vehicles 51,123,844 55,352,959
3,112,150,689 3,203,655,631
Capital Work-in-progress 1,468,734,611 1,444,130,271
4,580,885,300 4,647,785,902

B) Intangible assets
Represent Software (ERP ) and arrived at as follows:
At Cost 32,264,325 32,264,325
Accumulated amortization (considering life to be 5 year)
Upto 30 June 2018 (32,264,324) (32,264,324)
1 1

Total of 'A' & 'B' 4,580,885,301 4,647,785,903

03.01 Tangible fixed assets of Tk.4,580,885,300 (30 June 2021: Tk.4,647,785,902) as stated above has been
arrived at as follows :
Book value at 01 July 2021 (including Capital-work-in-progress) 4,647,785,902 3,917,114,376
Acquisition during the period 44,645,457 1,156,260,075
4,692,431,359 5,073,374,451
Disposal during the period ( Book Value ) - (133)
4,692,431,359 5,073,374,318

Less : Depreciation for the period (111,546,059) (425,588,416)

Book value at 30 September 2021 (including Capital-work-in-progress) Tk 4,580,885,300 4,647,785,902

03.02 Intangible assets represent Software (ERP) and were acquired at a total cost of Tk.32,264,325. Those were
amortized taking their life to be 5 (five) years. Amortization to the assets upto 30 June 2018 was
Tk.32,264,324, thus leaving a book value of Tk.1.
04. Right of Use Asset (RoU), Net:
Balance as at 1st July 2021 29,344,429 48,907,381
Add: Addition During the Period -
Less: Amortization Charged During the period (4,890,738) (19,562,952)
Written Down Value as at 30 September 2021 24,453,691 29,344,429

04.01 Lease Liability arising from Right of Use (RoU) Asset

Opening Balance as at 1st July 2021 31,314,818 49,970,064

Add: Addition During the Period -
Add: Interest Accrued 626,105 3,573,518
Less: Payments (5,557,190) (22,228,764)
Closing Balance as at 30 September 2021 26,383,733 31,314,818

Lease Liability Comprises:

Lease Finance- Non Current Portion 5,515,926 10,909,581
Lease Finance- Current Portion 20,867,807 20,405,237
Total Lease Liability at 30 September 2021 26,383,733 31,314,818

Statement of Comprehensive Income :

(i) Interest expense for the period under review arising from the Lease Liability 626,105 3,573,518
(ii) Amortization charge for the period under review for the Right-of-use asset :

Charged to Administrative expenses 2,680,479 10,721,916

Charged to Selling expenses 2,210,259 8,841,036
Total Amortization Charge 4,890,738 19,562,952

6
 Amount in Taka
30 September 2021 30 June 2021
05. Inventories :
(Valued at lower of cost and net realizable value)
Materials 1,723,619,656 1,487,110,913
In-transit 96,313,391 146,467,996
Work-in-process 15,789,038 13,664,465
Finished goods 114,420,149 129,257,876
Stores & spares 192,167,731 171,998,848
2,142,309,965 1,948,500,098

06. Trade & other receivables :

Trade receivables 187,802,088 320,375,980
Other receivables being accrued interest on :
Fixed and Short-term deposits 146,256,433 131,243,605
Zero Coupon Bonds issued by IPDC Finance Ltd. 7,501,624 11,771,116
153,758,057 143,014,721
341,560,145 463,390,701

6.01.
Trade receivables include Tk.22,784,432 ( at 30 June 2021: Tk.17,856,199) being the amount receivable from
overseas customers.

07. Investments :
( i ) Investment in fixed deposits with banks & other financial institutions 4,336,778,690 4,336,778,690
(maturity period of which is more than 3 months )
(ii) Shares of Listed Companies - as at fair value through
Profit or Loss account ( note # 07.01 ) 18,158,000 12,579,000

(iii) Zero Coupon Bonds issued by IPDC Finance Ltd. 23,593,722 36,089,230
4,378,530,412 4,385,446,920

07.01 Shares of Listed Companies ( as at fair value )

At 30 September 2021 Fair Value

Particulars Quantity Book Value Fair Value Gain / ( Loss )
No. of shares
* Baraka Patenga Power Ltd. 20,000 1,031,598 1,028,000 (3,598)
* Lanka Bangla Finance 200,000 8,870,940 9,140,000 269,060
* National Bank Ltd. 940,000 8,489,610 7,990,000 (499,610)

Total 18,392,148 18,158,000 (234,148)

At 30 June 2021 Fair Value

Particulars Quantity Book Value Fair Value Gain / ( Loss )
No. of shares
* Brac Bank Limited 100,000 4,916,608 4,950,000 33,392
* Beximco Pharma Ltd. 30,000 5,358,211 5,319,000 (39,211)
* Prime Bank Ltd. 100,000 2,257,875 2,310,000 52,125
Total 12,532,694 12,579,000 46,306

Note: Fair Values represent quoted prices as at Balance Sheet dates of Dhaka stock Exchange.

08. Cash & cash equivalents :

Components of cash and cash equivalents are as under :
( i ) Cash in hand 35,260,141 69,056,719
( ii ) Cash at banks in Current , STD & FC Accounts 629,293,288 686,623,058
(iii) Fixed deposits of maturity period 3 months or less periods 7,675,754 7,675,754
(iv) Current account balance with brokerage house, City Bank Capital Resources L 1,510,517 5,570,362
673,739,700 768,925,893

7
 Amount in Taka
30 September 2021 30 June 2021
09. Share Capital
Authorised Capital
200,000,000 Ordinary Shares of Tk.10 each 2,000,000,000 2,000,000,000

Issued, Subscribed and Paid up Capital

199,938,886 Ordinary Shares of Tk.10 each - (Note 09.01) 1,999,388,860 1,999,388,860

09.01 Issued, Subscribed and Paid up Capital

i) 7,948,070 Ordinary Shares of Tk.10 each paid up in cash 79,480,700 79,480,700
ii) 2,054,720 Ordinary Shares of Tk.10 each issued on Merge 20,547,200 20,547,200
iii) 189,936,096 Ordinary Shares of Tk.10 each issued as Bonus Shares 1,899,360,960 1,899,360,960
199,938,886 Ordinary Shares of Tk.10 each 1,999,388,860 1,999,388,860

10. Deferred tax liability

This has been calculated as under, based on the deductible/taxable temporary difference arising from the difference
between the carrying amounts of the assets or liabilities and their tax bases in accordance with the provision of IAS 12 :
Income Taxes

30 September 2021 30 June 2021

Taxable Taxable
temporary temporary
Carrying Carrying
difference difference
Particulars amount on Tax Base
/(Deductible
amount on Tax Base
/(Deductible
reporting date reporting date temporary
temporary
difference) difference)

Deferred tax relating to items of

profit or loss

Property, plant & equipment 2,582,839,638 (1,783,577,183) 799,262,455 2,674,344,580 (1,836,900,163) 837,444,417
(Depreciable items)
Temporary difference for IFRS 16: Lease 1,930,042 1,930,042 (1,970,389) (1,970,389)

Provision for gratuity (54,191,184) - (54,191,184) (43,290,547) - (43,290,547)

Net taxable temporary difference 2,530,578,496 (1,783,577,183) 747,001,313 2,629,083,644 (1,836,900,163) 792,183,481

Applicable tax rate 22.5% 22.5%

Deferred tax relating items of Profit
or loss at the end of the period (a) 168,075,295 178,241,283

Deferred tax relating items of Profit

or loss at the beginning of the period (b) 178,241,283 185,897,673
Deferred tax income/(expense ) recognized in profit or loss account 10,165,988 7,656,390

11. Unclaimed Dividend

This has been arrived as follows:

Opening Balance at 01 July 2021 311,917,777 255,625,820
Add : Gross dividend for the Year 2020 - 1,039,682,207
311,917,777 1,295,308,027
Less: Transferred to Capital Market Stabilization Fund (157,302,477) -
Less : Paid during the Period (6,080,836) (983,390,250)
148,534,464 311,917,777

Tk. 157,302,477 has been transferred, on 29 August 2021, from company's bank account to Capital Market Stabilization Fund (CMSF) SND
A/C No. 001031 1521301, Community Bank Bangladesh Ltd., Gulshan Corporate Branch, Dhaka in compliance with a Directive of
Bangladesh Security Exchange Commission vide the Commission's letter no.SEC/SRMIC/165-2020/part-1/182 dated 19 July 2021.
12. Provision for Current Tax
Represents :
Provision for the assessment year 2020-2021 687,082,055 687,082,055
Provision for the assessment year 2021-2022 630,315,592 630,315,592
Provision for the period (note 12.01) 138,589,550 -

1,455,987,197 1,317,397,647
Less: Advance Income Tax (1,452,887,995) (1,279,842,528)
3,099,202 37,555,119

8
 Amount in Taka
30 September 2021 30 September 2020

12.01 Current Tax Provision .

This has been computed at as follows :
Profit for the Period 541,152,570 767,777,616
Add: Provision for Inadmissible Items and Possible Add-backs 20,827,650 21,296,201
Add: Provision for Gratuity 10,900,637 11,027,943
Accounting Depreciation 111,546,059 105,552,227
Amortization of Right of Use Asset 4,890,738 -
Less: Tax Base Depreciation (73,364,097) (105,337,920)
Taxable Income 615,953,557 800,316,067

Effective Rate 22.5% 138,589,550 200,079,016

13. Revenue
This comprises :
Domestic sales (net of VAT ) 4,919,034,331 4,589,543,066
Export sales 46,470,564 69,125,308
4,965,504,895 4,658,668,374

14. Cost of Sales

This has been arrived at as follows:
Work-in-process (Opening) 13,664,465 14,102,791
Materials consumed 3,122,498,006 2,735,097,994
Stores consumed 50,591,776 42,299,496
Factory overhead 369,099,484 332,364,308
Depreciation 111,546,059 105,552,226
Work-in-process (Closing) (15,789,038) (13,625,995)
Cost of goods manufactured 3,651,610,752 3,215,790,820
Finished goods (Opening) 129,257,876 145,456,552
Finished goods (Closing) (114,420,149) (66,760,565)
3,666,448,479 3,294,486,807
15. Finance cost
Bank charges 1,094,638 1,593,224
Interest 24,605,151 26,093,477
25,699,789 27,686,701
16. Other income
Export Promotion Benefits (Cash incentives) 8,935,000 19,653,000
Interest on fixed & short-term deposits 63,278,887 99,331,997
Interest on Zero Coupon Bonds issued by IPDC Finance Ltd. 235,000 3,413,523
Exchange Gain / (Loss) 82,433 (88,718)
Gain / (Loss) arising from Offshore banking transaction (200,474) 1,126,716
Income/(Loss) on investment in shares 1,753,302 -
Sale of by-products (net of VAT Tk.83,871) 1,677,421 1,302,483
Others 240,000 931,060
76,001,569 125,670,061

9
17. Disclosure on Related Party Transactions (under IAS 24)
The nature of related party transactions and their values are as under:
Transactions during the period
Opening Closing
Nature of Balance Balance
Name of the related party transactions at 1 July 2021 Debit ( Credit ) at 30 September

2021
Debit/(Credit) (Debit/(Credit)

(i) Directors' (meeting fees) Board meeting (2,355,475) - (70,000) (2,425,475)

fees
(ii) Directors (Loan) Loan from (1,967,088) - (1,967,088)
Directors
(iii) Directors' Remuneration & House Accommodation - 5,650,000 (7,350,000) (1,700,000)

(iv) Lucerne Cocoa & Chocolate Products Ltd. Processing (2,036,822) 7,203,851 (6,390,347) (1,223,318)

Charges

(v) Ludwig Industrial Solutions Ltd. Supplier (648,251) 2,244,194 (3,225,684) (1,629,741)

(vi) Short-term benefits to the Directors during the period.

Name of Director Remuneration Accommodation Total

Mr. Mubarak Ali Managing Director 4,500,000 2,250,000 6,750,000

Begum Sakwat Banu Independent Director 600,000 - 600,000

5,100,000 2,250,000 7,350,000

(vii) Board meeting attendance fee of Tk. 70,000 paid during the period to the Directors was as under :

Mr. Mubarak Ali, Managing Director 10,000

Mr. Tanveer Ali Director 20,000
Mrs. Rokeya Quader Independent Director 20,000
Begum Sakwat Banu Independent Director 20,000
70,000

(viii) Post employment benefits, other long-term benefits, termination benefits, share based payments :
No payment has been made during the period under review and in the preceding period as post
employment and other benefits.

18. Earnings Per Share (EPS) (referred to Statement of Profit or Loss and Other Comprehensive Income) 1st quarter ended
Basic Earnings Per Share & Diluted Earnings Per Share are the same as there was no 30
30 September
potential dilutive claims outstanding during the periods and have been calculated as under 2019September
2021
: 2020
a) Earnings attributable to the Ordinary Shareholders (Net Profit After Tax) 412,729,008 570,084,200
b) Number of Ordinary Shares of Tk.10 each at Balance Sheet date 199,938,886 199,938,886
c) Earnings Per Share (EPS) 2.06 2.85

19. Net Asset Value (NAV) Per Share (referred to Statement of Changes in Shareholders' Equity)
Total Assets 13,132,350,384 12,657,505,835
Total liabilities (3,480,371,970) (3,845,853,224)
a) Net Asset Value (NAV) 9,651,978,414 8,811,652,611
b) Number of Ordinary Shares of Tk.10 each at Balance Sheet 199,938,886 199,938,886
c) Net Asset Value (NAV) Per Share 48.27 44.07

20. Net Operating Cash Flow Per Share (referred to Cash Flow Statement)
a) Cash Flows from Operating Activities as per Statement of Cash Flows 425,657,256 588,869,285
b) Number of Ordinary Shares of Tk.10 each at Balance Sheet date 199,938,886 199,938,886
c) Net Operating Cash Flow Per Share 2.13 2.95

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20.01 Reconciliation of Net Profit with Cash Flows from Operating Activities
making adjustments for Non-cash items, for Non-operating items
and for the Net changes in Operating Activities
Amount in Taka
30 September 2021 30 September 2020

Net Profit before tax as per Profit or Loss and Other Comprehensive Income 541,152,570 767,777,616
Adjustments for Non-cash items
Depreciation 111,546,059 105,552,226
Amortization 4,890,738 4,890,739
657,589,367 878,220,581
Adjustments for:
Bank charges (1,094,638) (1,593,224)
Income taxes paid (173,045,467) (181,903,539)
483,449,262 694,723,818

Adjustments for Non Operating Items :

Finance Cost 25,699,789 27,686,701
Net Changes in Fair Value of Investment in Shares 234,148 (2,689,575)
Interest Income (63,513,887) (102,745,520)
Gain on Investment in Shares (1,753,302) -
(39,333,252) (77,748,394)

Adjustments for Net changes in Operating Activities :

(Increase) / Decrease in :
Inventories (193,809,867) 155,901,172
Advances, Deposits & Prepayments (69,485,149) (241,280,044)
Trade Receivables 132,573,892 (36,696,411)
(130,721,124) (122,075,283)
Increase / (Decrease ) in :
C
Trade Payables (68,710,000) (100,848,484)
C
Liabilities for Services (5,924,185) (4,094,350)
Accrued
Advence Against Sales 21,146,428 114,166,194
Ad
Employee Benefit Obligations 38,528,908 35,769,811
O
Liabilities for Expenses 127,221,219 48,975,973
112,262,370 93,969,144
Net Cash Flows from Operating Activities Tk. 425,657,256 588,869,285

21. Post Balance Sheet Events - Disclosure under IAS - 10 : Events after Reporting Period :
Neither any 'Non-adjusting Events' nor any "Adjusting Events' took place after the reporting period.
22. Reasons for major variances of items in financial statements :
* Advance against sales represents advances received from the company's distributors during the month of
September 2021, against order placed by them, which liability has subsequently been liquidated.

* Increase in advances is mainly due to advance payment on account of acquisition of land and payment against
purchase of commercial place.

* Decrease in Loan and Lease liabilities is due to timely repayments to the banks and other financial
institutions in terms of the repayment schedules of the agreements executed between them and the
company.
* Changes in fair value of investments and Deferred tax liability have been disclosed in respective notes to
the accounts.
* Interest payable at period-end has subsequently been paid to the banks / financial institutions.
* Increase in Liabilities for expenses is due to the fact that certain liabilities (e.g. Salaries, rent etc.) originated
in September 2021, were paid subsiquently.

23. Prior Period's figures have been re-arranged, re-classified and re-stated, wherever considered necessary, to
conform to current period's presentation.
24. Figures have been rounded off to the nearest Taka.

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