PRIVATE AND CONFIDENTIAL NIALCO ALLOYS LIMITED Plot: 28/B, Block: A, BISIC Industrial Area Sagorika Road, Pahartali, Chittagong For the year ended 30 June, 2020 G. KIBRIA & CO. CHARTERED ACCOUNTANTS Head Office: SADHARAN BIMA SADAN (STH FLOOR} 24-25, DILKUSHA COMMERCIAL-AERA DHAKA-1000, BANGLADESH Branch Office: Plot 51, Floor-2, Road 14, Block-G Niketon Gulshan-1, Dhaka-1212 TELOFF : 488029568071, 9570717, 9575324, 9553630 E-mail : kibria03@hot Scanned with CamScannerNIALCO ALLOYS LIMITED Plot: 28/B, Block: A, BISIC Industrial Area For the year ended 30 June, 202 Scanned with CamScannerCHARTERED ACCOUNTANTS member, iesalbindependent counting me partnering or sucess -” G.KIBRIA & CO. “>gmni Independent Auditor’s Report To the shareholders of NIALCO ALLOYS LIMITED Report on the Audit of the Financial Statements Opinion ‘We have audited the financial statements of NALCO ALLOYS LIMITED (the Company), which comprise the Statement of Financial Position as at 30 June 2020, and Statement of profit or loss & other Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory information. In our opinion, the accompanying financial statements give true and fair view, in all material respects, of the financial position of the company as at 30 June 2020, and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRS), the Companies Act 1994, the securities and Exchange Rules 1987 and other applicable laws and regulations. Basis for Opinion ‘We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA code) together with the ethical requirements that are relevant to our audit ofthe financial statements in Bangladesh, and we have fulfiled our other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statement of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide opinion on these matters. Risk (Our response to the risk | Revenue-Export ‘At year end the reported total revenue of Tk] We have tested the design and operating 324,709,673)- effectiveness of key controls focusing on the ‘The company generates revenue from sale of goods to| fOOwing: export customers. The timing ofthe revenue recognised” Obtaining an understanding of and assessing and realised increases the risk of exposure of revenue the design and operating effectiveness of controls designed to ensure that revenue is to foreign exchange fluctuations. recognised in the appropriate accounting period “There is also a risk that revenue may be overstated due to fraud through manipulation of the timing of the| > Segregation of duties in invoice creation and ‘opening of letter of credit and timing of goods exported. ‘modification and timing of revenue recognition. We identified revenue cecognition as key audit matter| > Assessing the appropriateness of the as it is one of the key performance indicators of the Company's accounting policies for revenue Company, which give rise to an inherent risk of the recognition and compliance of those policies existence and the accuracy of the revenue. with applicable accounting standards. GKC/20-21/A/083 Page i Ret Aeon Bima Sadan (Sth Floor) 24-25, Dilkusha Commercial-area Dhaka-10000, Bangladesh TEL : +88-02-+9568071, +88-02-9570717, +88-02-9575324 E-mail: [email protected], kibriaos@hotmailcom, Web : http://gkibriaandco.com Scanned with CamScanner> Obtain supporting documentation for sale transaction recorded either side of year end to determine whether revenue was recognized in the current period. > Comparing a sample of revenue transactions recognised during the year with the sale invoices and other relevant underlying documentation. > Critically assessing manual journals posted to revenue to identify unusual or irregular items, and finally assessed the appropriateness and presentation of disclosures against relevant ‘accounting standards. ‘See note no 15,00 to the statement of profit or loss & other comprehensive income. Valuation of inventory The inventory of Tk 288,038,349 at 30 June, 2020 held in warehouses and across multiple product lines in factory. Inventories are carried at the lower of cost and net realizable value. As a result, the Directors apply judgment in determining the appropriate values for slow-moving or obsolete items, We challenged the appropriateness of management's assumplions applied in calculating the value of the inventory provision by: > Evaluating the design and implementation of key inventory controls operating across the factory and warehouse. > Attending inventory counts and reconciling the ‘count results to the inventory listing to test the completeness of data. > Reviewing the historical accuracy of inventory provisioning and the level of inventory write-offs during the year; and challenging the completeness of inventory provisions through assessing actual and forecast sales of inventory lines to assess whether provisions for slow- moving/obsolete stock are valid and complete. > Comparing the net realizable value obtained through a detailed review of sales subsequent to the year-end, to the cost price of a sample of inventories and comparison to the associated provision to assess whether inventory provisions. are complete; > Opening and closing inventory were properly checked along with purchase of raw materials and consumption determined as balancing figure which seems more rationale, ‘Gee note no, 5.00 to the financial position KC 120-2 VA/083 Page it Scanned with CamScannerMeasurement of deferred tax lability The net deferred tax labilty totaling ‘Tk. 377,688 as at 30 June, 2020. Significant judgment is required in relation to deferred tax liabilities as it is dependent on forecasts of future Profitability over a number of years. We additionally carried out the following substantive testing for this item: > We obtained an understanding, evaluated the design and tested the operational effectiveness ‘of the company's key controls over the recognition and measurement of deferred tax fiabilties and the assumptions used in estimating the company's future taxable income, > We also assessed the completeness and accuracy of the data used for the estimations of future taxable income. > We involved tax specialists to assess key assumptions, controls, recognition and measurement of deferred tax liabilities. > We also assessed the appropriateness of presentation of disclosures against IAS-12 income tax. ‘See note no. 17.00 to the financial statements Valuation of Property, Plant and Equipment The carrying value of the PPE amounted to Tk. 22,161,335 at 30 June, 2020. The valuation of PPE was identified as a key audit matter due to the significance of this balance to the financial statements. Expenditures are capitalized if they create new or enhance the existing assets, and expensed if they telale to repair or maintenance of the assets Classification of the expenditures involves judgment. The useful lives of PPE items ae based on management's estimates regarding the period during Which the asset or its significant components will be Used. The estimates are based on historical experience and market practice and take into consideration the physical condition of the assets. ‘Our audit included the following procedures: > Weassessed whether the accounting policies in relation to the capitalization of expenditures are in compliance with IFRS and found them to be consistent > We evaluated whether the useful lives determined and applied by the management were jn line with historical experience and the market practice. > We checked whether the depreciation of PPE items was commenced timely, by comparing the date of the reclassification from capital in progress to ready for use, with the date of the act of completion of the work. See note no. 3.00 to the financial statements jorkers Profit participation Fund ‘Workers Profi Paricipation Fund (WPPF) provisioy| Our audit included the following procedures: totaling Tk. 1,008,791 as at 30 June, 2020. Management of the company has opened a separate bank account for the WPPF. Management has created provision for WPPF as per respective law. ‘See note no. 14.02 to the financial statements Ref; GKCI20-21/N083 Page it > We assess whether adequate provision has been created against profit as per regulatory requirement BRAS S i Scanned with CamScannerOther Information Management is responsible forthe other information. The other information comprises all of the information other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. ‘Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit ofthe financial statements, our responsibility is to read the other information and , doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact. We have nothing to report in this regard. Responsibilities of Management and Those Charged with Governance for the Financial Statements and Internal Controls Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs, the Companies Act 1994, the Securities and Exchange Rules 1987 and other applicable laws and regulations and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The companies Act, 1994 require the management to ensure effective intemal audit, internal control and risk management functions of the company In preparing the financial statements , management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ‘of accounting untess management either intends to fiquidate the company or to cease operations, or has no realistic alternative but to do so. ‘Those charged with governance are responsible for overseeing the company's financial reporting process. /’s Responsibilities for the Audit of the Financial Statements Au Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material i, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Ref: GKC/20-21/A/083 Page iv Scanned with CamScannerAs part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: ‘+ Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher then for one resulting from error, as fraud may involve collusion, forgery, intentional omissions , misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in circumstances. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management's use of the going concern basis accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's abiity to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosers are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern. ‘+ Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and event in a manner that achieves fair presentation. © Obtain suticient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the financial statement we are responsible for the direction, supervision and performance of the group audit. We solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable , related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the Key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in cour report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Ref: GKC/20-21/A/083 Page v Scanned with CamScannerReport on other Legal and Regulatory Requirements In accordance with the Companies Act 1994, and the Securities and Exchange Rules 1987 and relevant notifications issues by Bangladesh Securities and Exchange Commission, we also report that: @) We have obtained all the information and explanations which to the best of cur knowledge and beliaf were necessary for the purpose of our audit and made due verification thereof, ) In our opinion, proper books of accounts , records and other statutory books as required by law have been keptby the company so fa a i appeared irom our examinations of those books and proper returns adequate fos the purpose of our audit have been received by us; ‘¢) The information and explanations required by us have been recelved and found satisfactory; 4) The statement of Financial Position, Statement of profi or loss & other Comprehensive Income and Statement ‘of Changes in Equity and Statement of Cash Flows of the Company dealt with by the report are in agreement with the books of account and returns; ©) The expenditure was incurred for the purpose of the Company's business. Dated, Dhaka Sultan Moheuddin, FCA 14 September, 2020 Partner G. KIBRIA & Co. Chartered Accountants Ref: GKC/20-21/A/083 Page vi Scanned with CamScannerNIALCO ALLOYS LIMITED Statement of Financial Position As at 30 June 2020 [elberahad bee 30 June 2029 30 June 2019 ASSETS, meeerntaege see [a [wars ‘Capital Work In Progress. 4.00 9,285,500 ba (31,446,835, 14,284,725 hee betes too | “tte || Ste Cash & Cash Equivalents 8.00 30,862,945 39,781,423 Sines a TOTAL assets ne Share Capital 9.00 150,000,000 20,000,000 fanael ean sow | ‘worse|| ote ee trae : : Seana nor [sn] roi enneeeaec : : cae 20 | aursas|| samen Ca ea iteo dept ||__ Sauna Net Asset Value (NAV) Per Share 23.00 12.47 20.96, ee ee Dated: 14 September, 2020 Place: Dhaka Ref GKC20-21/A/083 Paget Signed as per our annexed report of even date. Geeky Chartered Accountars Scanned with CamScannerNIALCO ALLOYS LIMITED Statement of Profit or Loss and other Comprehensive Income For the year ended 30th June 2020 “Amount in Taka Notes) 019.2020 2018-2019 Revenue 15.00 324,709,673 387,277,040 Less: Cost of Goods Sold 16.00 285,023,873. __340.317,529 Gross Profit 39,685,800 46,959,511 Less: Operating Expenses 16,814,889 18,002,195 ‘Administrative Expenses 17.00 4,687,177 5,499,431 Selling & Distributing Expenses 18.00 123127.712 12,502,764 Profit from Operation 22,870,911 28,957,316 Less: Financial Expenses 19.00 5.011.319 5,092,125 ‘Add: Non operating Income 20.00 1,350,969 1,812,758 Profit{Loss) before Contribution to WPPF 19,210,562 25,677,949 Less: Contribution to WPPF 914,789 1,222,759 Profit/(Loss) before Tax 18,295,773 24,455,190 Less: Income Tax 3.149.208 4,873,465 Current Tax 21.01 3,048,093 4,596,891 Deferred Tax 11.00 101,114 276,574 Profit after tax for the period 15,146,565 19,581,725 Other Comprehensive Income : : ‘Total Comprehensive Income 15,146,565. 19,581,725, GSS, __19, 581,725 Earnings per share (EPS) 22.00 Ta iat ‘The accounting policies and annexed notes form an integral part of the financial statements. ae ‘Chief Financial Officer Dated: 14 September, 2020 Place: Dhaka Ref: GKC/20-21/A/083 hihen #- SE ‘Company Secretary Director ‘Managing Director Signed as per our annexed report of even date, GIA Y G. KIBRIA & CO. Chartered Accountants Scanned with CamScannerNIALCO ALLOYS LIMITED Statement of Changes in Equi For the year ended 30 June 2020 (Amount in Taka) Particulars Share Capital ae Total Equity Balance as af 01 Fly 3019 20,000,000 21,927,985 | 41,927,983 New share Issued 150,000,000 |__—_—-—_‘| 130,000,000 [Net Profit for the Year - 15,146,565, 15,146,565, Balance as on 30 June 2020 150,000,000 ‘37,074,547 | 187,074,547 NIALCO ALLOYS LIMITED Statement of Changes in Equity For the year ended 30 June 2019 (Amount in Taka) Particulars Share Capital - [Balance as at 01 July 2018 | 20,000,000 2,346,258 | 22,346,258 Net Profit for the Year : 19,581,725 | _ 19,381,725 [Balance as on 30 June 2019 20,000,000 21,927,983 | 41,927,983 Me Oaile ee Sr Chief Financial Officer ‘Company Secretary Director Managing Director Dated: 14 September, 2020 Place: Dhaka Ref: GKC/20-21/4/083 Page 3 Scanned with CamScannerNIALCO ALLOYS LIMITED Statement of Cask Flows For the year ended 30th June 2020 ; 7 ‘Amount in Taka rticulars fote ame 2019-2020 2018-2019 ‘A. Cash Flows from Operating Act Receipts from customers 279,019,344 388,019,382 Receipts from others Income 1,350,969 1,812,758 Payment to Suppliers 29.00 (520,780,153) (373,860,034) Operating expenses paid 30.00 (30,814,300) (25,503,236) Finance expenses paid (5,011,319), (5,092,125) Cash Generate from Operation (276,235,459) (64,623,255) Payment against Income Tax (1,642,941 1,097,446) Net Cash Generate from Operating Activities (@77,878,400) (5,720,701) B. Cash Flows from Investing Act ‘Acquisition of Property, Plant and Equipment (18,629,500) Net Cash used in Investing Activities (18,629,500) + C. Cash Flows from Financing Activities Increase/(Decrease) Share Capital 130,000,000 - {ncrease/(Decrease) Short Term Borrowing 157,589,421 53,187,033, Tncrease/(Decreases) Loan Liabilities (Long term) - - Net Cash Provided by Financing Activities 287,589,421 33,187,033 D. Netincreasl{Decrease) in Cash and Cash Equivalent (A*B4C) 918,479) 37,466,330 E. Cash and Bank Balances at beginning the period (30-06-2019) 39,781,423, 2,315,093 F. Cash and Bank Balances at end of the period (D+E) 30,862,945 39,781,423 Net Operating Cash Fiows (NOCF) Per Share 24 GH (ES) ‘Chief Financial Officer ‘Company Secretary Director “Mianaging Director Dated: 14 September, 2020 Place: Dhaka Ref: GKC20-21/A/083 Page 4 Scanned with CamScannerNIALCO ALLOYS LIMITED. Notes, summary of significant accounting policies and other explanatory information For the year ended June 30, 2020 1.00 REPORTING ENTITY: 1.01 Background of the Company The company “NIALCO ALLOYS LIMITED” as “NIALCO” or “The Company” was incorporated on 215T June, 2011 vide registration No.CH-8784 as a public limited company in Bangladesh under the Companies Act 1994. 1.02 Registered Office of the Company The registered office & factory of the Company are located at House No. 01, Road No. 02, Lane No. 01, Block No. £., Halishahar H/E, Chittagong, and Jahanabad, Bhatiary Shitakunda, Chittagong respectively. The corporate office of the company located at Plot: 28/B, Block: A, BISIC Industrial Area, Sagorika Road, Pahartali, Chittagong. 1.03 Nature of the Business ‘The principal activities of NIALCO ALLOYS LIMITED are to manufacture of high grade Bronze and Brass Ingots including Gun Metal, Phosphorus Bronze, Leaded Bronze, Aluminum Bronze, Manganese Bronze, Sand Cast Brass (SCB), High Tensile Brass (HTB), Die Cast Brass (DCB), Master Alloys, Phosphorus Copper ete. confirming to BS, IS, JIS, DIN, ASTM, UNI and as per all other International Standards. 2.00BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS: 2.01 Statements of Compliance: ‘The Financial Statements of the Company are prepared on a going concer basis under historical cost convention and in accordance with the International Accounting Standards (ASs) and International Financial Reporting Standards (IFRSs), the Companies Act 1994, the Securities and Exchange Rules 1987 and other applicable laws & regulation in Bangladesh. 2.02 Going Concern: The company has adequate resources to continue its operation for the foreseeable future. As such, the directors intended to adopt the going concem basis in preparing the financial statements, The current credit facilities and resources of the company provides sufficient fund to meet the present requirements of its existing business. 2.03. Accrual Basis: The financial statements have been prepared, except cash flow information, using the accrual basis of accounting. Ref: GKC/20-21/A/083 Page 5 Scanned with CamScanner2.04 2.05 2.06 2.07 2.08 Ref: GKC/20-21/A/083 ‘Components of the Financial Statement . According to IAS-1 “presentation of the Financial Statements” the complete set of financial statement includes the following components a) Statement of Financial Position as at June 30, 2020; b) Statement of Profit or Loss and other Comprehensive Income for the year ended June 30, 2020; ¢) Statement of Changes in Equity for the year ended June 30, 2020; d) Statement of Cash Flows for the year ended June 30, 2020; and ©) Notes, summary of significant accounting policies and other explanatory information Accounting Policies & Estimates: The preparation of these financiaf statements is in conformity with IASS/IFRSs which require management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Estimates and underlying assumptions are reviewed on an ongoing basis and used for accounting of certain terms such as provision for expenses and depreciation. Responsibility for Preparation and Presentation of Financial Statements: The Board of Directors is responsible for the preparation of financial statements under section 183 of the Companies Act, 1994 and as per the provision of “the Framework for the preparation and Presentation of Financial Statements” issued by the International Accounting Standards (IASs). Statement of Cash flows: Statement of Cash flows have been prepared in accordance with IAS-7 "Statement of Cash Flows" and the cash flows from the operating activities have been presented under direct method considering the provisions of Paragraph 19 of [AS-7 which provides that "Enterprises are Encouraged to Report Cash Flows from Operating Activities Using the Direct Method”. Applicable accounting standards: ‘The following IASs and IFRSs are applicable for the financial statements for the year under review: IASs: IAS-1 Presentation of Financial Statements; TAS-2 Inventories; IAS-7 Statements of Cash flows; IAS-8 ‘Accounting Policies, Changes in Accounting Estimates and Errors; TAS 10 _Events after the reporting Period TAS 12 _ Income Taxes TAS 16 Property, Plant and Equipment IAS 19 Employee Benefits TAS21 The Effects of Changes in Foreign Exchange Rates IAS 23 _ Borrowing Costs JAS 24 _ Related Party Disclosures IAS33. _Eamings per Share IAS 36 _ Impairment of Assets JAS 37 _ Provisions, Contingent Liabilities and Contingent Assets Page 6 Scanned with CamScannerIERSs: 2.09 2.10 2.10.1 2.10.2 2.10.3 2.10.4 Ref: GKC/20-21/A/083 IERS7 Financial Instruments: Disclosures IFRS 9 Financial Instruments IFRS 13 Fair Value Measurement IFRS 15 Revenue from Contracts with Customers Reporting Period ‘The financial period of the Company under audit covers 12 months period from 01 July 2019 to 30 June 2020. Property, Plant and Equipment: Recognition and Measurement All Property, Plant and Equipment are stated at cost less accumulated depreciation as per TAS-16 “Property, Plant and Equipment”. The cost of acquisition of an asset comprises of its purchase price and any directly attributable cost of bringing the asset to its working condition for its intended use inclusive of inward freight, duties and non- refundable taxes. ‘The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if itis probable that the future economic benefits embodied the part will flow to the Company and its costs can be measured reliably. The cost of the day to day maintaining cost on PPE is recognized in the Statements of Profit or Loss and other Comprehensive Income as incurred. Depreciation: Depreciation on Property, Plant and Equipment other than Land and Land development has been computed during the year using the reducing balance method. Depreciation has been charged on addition of assets when the related Property, Plant and Equipment are available for use as per management intention, Depreciation has charged as following rate: Name of Assets Rate = 2020 2019 Plant & Machinery 10% 10% Computer and Printer 10% 10% Furniture & Fixtures 10% 10% Retirement and Disposals: ‘An asset is derecognized on disposal or when no future economic benefits are expected from its use and subsequent disposal. Gain or loss arising from the retirement or disposal of an asset is determined as the difference between the net disposal proceeds and the carrying amount of the assets and is recognized as gain or loss from disposal of asset under other income in the statement of profit or loss and other comprehensive income. Impairment: In accordance with the provision of IAS - 36, the carrying amount of non-financial assets other than inventories of the company involved in the manufacturing of the products. If any such indication exists, then the asset’s recoverable amount is estimated and impairment losses are recognized in the statement of comprehensive income. No such indication of impairment has been observed till the end of the year. Scanned with CamScanner2 Borrowing, Cost: Interest and other cost incurred in the company in connection with the borrowing of fund are recognized as expenses ir the year in which they are incurred unless such borrowings cost related to acquisition/construction of assets in progress that are required to capitalized as per JAS-23: Borrowing Cost. 212 Revenue Recognition: The Company has applied IFRS 15: . (a) Under IFRS 15, revenue is measured based on the consideration specified in a contract, with a customer. | (b) The company recognizes revenue when it satisfies a performance obligation by transferring control over goods or services to a customer. ; ; (c) The company considers the terms of the contract and its customary business practices to determine the transaction price, The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, 2.13 Valuation of Current Assets: Trade and Other Receivable: ‘These are carried forward at their original invoiced value amount and represents net realizable value. Management considered the entire bills receivable as good and is collectable and therefore, no amount has been provided for as bad debt in the current period’s account. Inventories: In compliance with the requirements of IAS-2 Inventories, the Inventories have been valued at Cost or Net Realizable value whichever is lower, which is consistent with the previous petiod’s practice. Net realizable value is based on estimated selling price in the ordinary course of business less any further cost expected to be incurred to make the sale. 2.14 Provisions: A provision is recognized on the balance sheet date if, as a result of past event, the Company has a present legal or constructive obtigation that can be estimated reliably, and itis probable that an outflow of economic benefits will be required to settle the obligation. 215 Employees’ Benefit The company maintains defined benefit plan for its eligible permanent employees. The eligibility is determined according to the terms and conditions set forth in the respective deeds. The company has accounted for and disclosed employee benefits in compliance with the provisions of IAS 19: Employee Benefits. The cost of employee benefit is charged off as revenue expenditure in the petiod to which the contributions relate. ‘The company’s employee benefits include the following: Reft GKC/20-21/A/083 Page 8 Scanned with CamScanner2.16 247 2.18 2.19 Ref: GKC/20-21/A/083 Page 9 a) Short Term Employee Benefits : Short-term employee benefits include wages, salaries, festival bonuses etc. Obligations for such benefits are measured on an undiscounted basis and are expensed as the related service is provided. b) Contribution to Workers’ Profit Participation and Welfare Funds This represents 5% of net profit before tax, contributed by the company as per provisions of the Bangladesh Labor (amendment) Act, 2013. Advances, Deposits and Prepayments Advances are initially measured at cost. After initial recognition advances are carried at cost less deductions, adjustments or charges to other account heads such as PPE or inventory etc. Functional and Presentational Currency: ‘The financial statements are prepared in Bangladeshi Taka which is the Company's functional currency. Income Tax: Current Tax: Current tax is the expected tax payable on the taxable income for the financial year, using tax rates enacted or subsequently enacted aller the reporting date and any adjustment to tax payable in respect of previous years. Provision for taxation is calculated on the basis of applicable current tax rate incompliance with Finance Act, 2021. Provision for corporate income tax is made in accordance with the income tax laws. Deferred Tax: ‘The company recognized deferred tax as per JAS 12 Income Tax. Deferred tax is recognized for all temporary timing difference arising between the carrying value of assets and liabilities and its tax base values. The rate prevailing at the Financial Position date is used for determine the deferred tax. Earnings per share: “The company calculates Eamings per Share (EPS) in accordance with [AS-33 “Eamings per Share” which has been shown on the face of the Profit or Loss and other Comprehensive Income. Basic Earnings This represents profit or loss at the end of the period attributable to ordinary shareholders of the entity Basic Earnings Per Share This has been calculated by dividing profit or loss attributable to ordinary shareholders of the entity by the weighted average number of ordinary shares outstanding during the period. Diluted Earnings Per Share Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and weighted average number of ordinary shares outstanding, for the effect of all dilutive potential ordinary shares. However, no dilution of EPS is applicable for these financial statements as there were no potential ordinary shares during the relevant peri Scanned with CamScanner2.20 2.21 2.22 2.23 2.24 Ref: GKC/20-21/A/083 Page 10 Financial Instruments: A financial instrument is any contract that gives financial liability or equity instrument to another entity as per [AS-39 Recognition and Measurement.” toa financial asset to one entity and a “Financial Instruments Financial Assets: | Financial assets of the company include cash and cash equivalents, equity instrament fo another entity, Trade receivables and other receivables. The company initially recognize a financial asset in its statement of financial position when, and only when, the company becomes a party to the contractual provision of the instrument. The company derecognize a financial asset when, and only when; the contractual rights to the cash flows from the the cash flows of the financial financial asset expire or transfer the contractual rights to receive asset. Financial Liabilities: ; ‘The company intially recognize a financial liability in its statement of financial position ty to the contractual provision of the when, and only when, the company becomes a part ‘ instrument, The company derecognize a financial liability from its statement of financial position when, and only when, i is extinguished, that is when the obligation specified in the contract is discharged or cancelled or expires. Cash and Cash Equivalents: ‘According to IAS 7 Statement of Cash Flows, cash and highly liquid investments that are readily co which are subject to an insignificant risk of changes in values. ‘comprises cash in hand, short term deposit mnvertible to known amounts of cash and. Events after the Reporting Period: Events after the reporting period are those events, favorable and unfavorable, that occur between the end of the reporting period and the date when the financial statements are authorized for issue. Two types of events can be identified: Adjusting Events - those that provide evidence of conditions that existed at the end of the reporting period. Non adjusting Events- those that are indicative of conditions that arose after the reporting period. Management of the company has taken close look whether any events after the reporting period exist that need to take into account during the preparation of Financial Reports. No Event after the reporting period exists and management of the company has prepared the financial reports in accordance. ‘Authorization date for issuing Financial Statements ‘The financial statements were authorized by the Board of Directors on September 13, 2020. Comparative Information Comparative information has been disclosed in the respect of previous year for all numeric information in the financial statements and also the narrative and descriptive information where it is relevant for understanding of the current year’s financial statement, fr Scanned with CamScanner2.25 Segmental Reportin : ; 7 As required by IFRS-8 "Operating Segments", if an entity operates business activities that ‘may eam revenues or incur expenses, Whose operating results are regularly reviewed by the chief operating decision maker and for which discrete financial information is available The company considers the operation on aggregate basis and manages the operations as @ single operating segment. Hence itis felt that such segment reporting is not cequired to be disclosed. 2.26 Related Party Disclosure i The company carried out a number of transactions with related parties in the normal course of business and on arms’ length basis. The information as required by IAS-24: Related Party Disclosures has been disclosed in a separate note to the accounts. 2.27 General: i) The figure has been rounded off to the nearest taka. Ref: GKC/20-21//083 Page 11 Scanned with CamScanner300 400 S00 6.00 61 Ref: GKC/20-21/A083 Amouat in Taka ‘30 Sune 2020 ]] 30 Sune 2019] Property, ant and Equipment A. AtCost Opening Balance 20,087,395 |f 20,097,395 Add: Adition during the period 9,344,000 - Les: Disposal during the period e : Total Cost 29au39S ___20,097395, B. Accumulated Depreciation Opening Balance 5812670 aasaT7 ‘Ada: Depecition charged for he period 1,467,390 1,587,193, Less: Adjustment on disposal 2 : Total Charge 780000 352,670 ‘Written down value (AB) 22.A61,335 __14284,72 Details are shown ia Annexure-A Capital Workin Progress Opening Balance Ada: Addition during the Less: Transferred to appropriate asst category Closing Balance Capital wor in progress represents cots incurred to date for land development purposes whichis stil at the balance sheet date, Capital workin progress willbe transfered to appropriate aset category afer completion of Inventories Raw Material Note- too [259087868 || 2.771019 Work in Progress Note- too] 14,265,350 2164874 Finished Goods Note- 600 |_14.685.635, 3245715, 258,038.34) __ 48,181,608, Inventories increased due to purchase in bulk quantity of various items. Inventories are valued at lower of eost price and ‘et realizable value. Inventory count of the above stock and stores was conducted petiod. The valuation of inventory was done and eetfied bythe management. Dea Accounts Receivables ‘Trade Receivables Note- 601 FDR Interest Receivables Note: 6m Trade Receivable Opening Balance ‘Add: Sales Duting the Year Less: Received From Customer Closing Balance ‘Ageing of Trade Receivables ‘More than sb months under constrction by the management ils are given in Annexure ~B at the end ofthe ‘Less than six months Page 12 Bre571 7 252.558 : 30,021,929, : 351,000 || 5,073,982.00 324,709,673 |) 387,277,000 279,271,902 || _ 388,019,382 9.169371 431,600 49,769,371 4,331,600 9.169.371 4.331.600 Scanned with CamScanneror 7.00 701 Ref: GKC?2021/N1083 Amouat in Taka ‘0sFune 2020 30 June 2019 ‘The classification of receivables as required bythe Schedule X1 ofthe Companies Act, 1994 are given below: i) Receivables considered good and In vespect of which the company 1 Fb] secured, ii) Receivables considered good for which the company holds no security ote nan the debior’s personal security. 49,769,371, 4,331,600 i) Receivables considered doubifl or bad iv) Receivable de by dirctors or other officers of te company or any of the] ether severally o jimly with any ether person or receivables duc by fms private comparzsrexpetvely i which any dete ia partes or a director ot member. [Receivables Ge by companies under We see manapenent fri The maximum amouat du by dizer reer offices ofthe company at my lime during he pti [Fotat BIG 37 331,600 Details areas follows: Nameof theanstomers Amount ISONTZRVUSHU CORPORATION, JAPAN [OHGITANT CORPORATION, OSAKA, JAPAN 41,525,508 7.943.463 Total B769371 EDR Interest Receivables ‘Accured Intereston FDR, F558 Advance, Deposit & Prepayments 255 ‘Advance Income Tax Note- 701 Advance to Employees LIC Margin in MTB 186,635 7,962,804 150,000 286938, 3,149,439 36935, ‘Advance Income Tax Tneome Tax deduction at source - opening ‘Add: Advance income tx daring the period Less: Adjustment during the period 164,948 1,642,941 1.097.446 losure as per Schedule XI, Part, Para dof the Companies Act, 1994 1,097,446 1,097 446 iy Advance, deposits & prepayment considered good and in respect of which th] company is fully secured. 7,962,804 286938 fi Advance, deposits prepay’ conse good for whch he ora Rl no secur. ) Advanos, deposits & prepayment considered doubtful or bad ‘advance, deposits & prepayment due by dicctors oF other offices of Ua leompany or any of them ether severally or jointly with any other person cr] Advance, depasis & prepayment due by firms or private companies respectively in lori any decor i partner or adiector or member. 186,635 150,000 iv) Advance, deposits & prepayment duo by companies under te Same jv) The maximum amount due by directors or other offices of the company at any] time during te period. Page 12 Scanned with CamScannerAmount in Taka BFane 2020 []_30June 2019, ea 310.09 | 436938) 8.00 Cash and ash equates (cad ner Tana a (Cun atb Mot Te Baki CN, -02 102020 snl) om ‘Mutual Trust Bank Lid. A/C No. 0005-0260001264 158,747 43 Cay an AN eLHST LOL 32 Pa Eatom Baa At No.0 10678567 ral] a9 Midland Bank Ltd. A/c No. 0003-1090001613 7975 - Mot Tet Baki, ACN 005-0200 a : Gio FoR Eason kL - |) aaron Metal Tat nk Le ysnide||_saansne Tot Siaces, 97a “The shove anc spore wh uk stent nt sh ls as en psy courte an tidy mange 9.0 Share Capital 4, Authored Capit $0 0 0 Ona Shars oT 1 ech LT — Ta 1 lowed Sbserbed Paid. Capita 150090 Orin Sas of 1h ly pip aoe amo C.Sharehlingosion Sponsor Ba TART THR Cpls Fini non oa : tu Shacholer 91500 1350000 [Tota Too.00% — 15,000,000 750,000,008. Deis are sown in Annexure 120 Resned Barings Opening Balas TBAB | aa Na pet ftp 15ags6s ||__wosanas SATS, — 21927983, 11.00 Detered Tx Linkity Opening Bese aes al Abt Addon Dsing te od vaLiis||__ asin sas, 16574 1240 shor Tem Borrowings Bark Lon weal ioznesse 5307033 Hues Sa 1201 BankLean ‘erp billy aonsnsse Trot Rit 3008836 tao Ref: GKC2021/N083 Page 4 Scanned with CamScannerArwount in Taka (Giidune2020 TT 30.tune 2015 Se Terms and Cond Naneof Bark ia Trt a Nature Shot Tem Seton Ha ‘ONTO “To impor fous ad on eros ens Uke alanina EC Purpose of Loan acu lcopper, bronze, brass crap, zinc and other permissible items. tan ioe Rate oe on Mode of Agjuinar Ta DITG = 1390 Accounts Payable Intercompany payable 13.01 5,687,305, 6.243.941 3651305 sana 130 tatercompany payable = Opening Balance eaaoa]] 7737310 Ads: Adon uring the prod rooseist || iazass Les Adjustment ding de eid c2s76n||_ 0.05339] 5651305, 626,941 1400 Linbties for Expenses Salary & Allowance RIT SIT Income Tax povon wor waosise|] —aas9ass weer 1402 Koos'ai |] 1222159 Sci guard salary 35000 20,000 Uitiy it 35.00 I9ass ‘it Fes, 120000 72,000 Other Expenses anas3 15.26 PaybleAzsinst Capital WorklnProgess(CWIP) 1403 1288500 seoNSOL. SSIS 1401 tecome Tax provision Opening Balance saa : ‘Add: Aton ring the prod 3048093 |) 4s96sn ss: Ausent ing the prod _Siee6||__ roots LAS S2, A 8 24.02 Workers profit participation fund(WPPF) Opening Blane Tams > [A Aditon daring the prog ‘1a789 |] azn2759 ‘Ads Interest cred on enfistibted amount of hs year 94,002 Les Ajsnen uring the prod 1ams9 : 1908791, 1D 1403 aye Agnnst Capital Workto-Propress (CWI) pening Balance 5 : ‘Ad Adon dsing the period 9.285500 : Les: Adjustment ring the prod «00,000 : ka. ‘30,fene2020 [] 30aune2019 Ref, GKCI202U/A083 Page 15 Scanned with CamScannerAmount in Taka ‘30June 2020 |] 30 June 2019 15.00 Revenue Gross Sales (Export) 324,709,673 387,277,040 Less: VAT. one EE ae Details are shown in Annexure-D 16.00 Cost of Goods Sold Raw Materials Consumption 1601 301,724,757 338,125,003 Manufacturing overhead 1602 8839512 _7,603,095_ Cost of Manufacturing passat ie sae Workin Progress-Opening 2,164,874 - ‘Work in Progress-Closing 265,350) _(2,164,874) Costof goods Manufactured 296463,793 343,563,044 Finished goods-Opening 3,245,715 : Finished goods-Closing 004.685.6535) _G.245,715) 255 R873 _H0317 529 1601 Raw Materials Consumption Opening Balance 2270019 6,809,983, ‘Add: Purchase during the period S1R048,102, 374,086,059 560,812,121 380,896,032 Less: Purchase discount Raw materia available for production So0si2,1aT 380,896,082 Raw Material Closing (259,087364) __ (42,771,019) ‘Less: Consumption during the period 301,724,757. 338,125,023 Ref GKC20-21/A083 Page 16 Scanned with CamScannerAmount in Taka 30une 2020 |] 30 June 2019 16.02 Manufacturing overhead Wages Salary & Allowance [tase] Conveyance 205,150 245367 “ous & Travel 304,854 383471 CCarnge Ivand 322380 383,672 silty Bill Expenses rig |] ass Enerinnent 104,616 nentsinnent ; Internet Expenses 24,000 License & Reneval 203672 Laan & Unoaing Exess mas mga Medical Expenses ¥ Mobi Teme & Fax Bess nes ssa ring & Stationery . 8 Repairs & Maintenance 252685 273,582 Store & Spares 254122 184.930 Curing Expenses 678.954 665,522 Seale charge 45244 36,362 Uniform & Gioves 10.132 Ban Miscellaneous Expenses 64.135 23868 Depreciation Ansexure-A) 1.422381, 1,580,424 6,839,512 7,603,095 17.00 Administrative Expenses Salary & Allowance Tass TORT SHE Conveyance s12914 1,463,819 Paper & Periodiest 24158. 12938 Entertainment 110024 210,837 Printing & Stationery 36,500 Fees and Renewals 156,888, 127,080 Usity Bi 180,495 128,881 Adit Fee 80,000 70,000 Telephone, Mobile & Internet ill 58,644 54188. Busines Development expenses 342,362, 40394 Postage & Courier 33,522 28992 Repairs & Maintenance 45,965 40,930 Photocopy charges 16241 Preliminary expense writen of : Medial Expenses 31,685 Miscellaneous Expenses 28,255 Depreciation (Annexute-A) ‘5009 || og7,177 53,61 Ret GKCRO-2UANSS Pope 17 Scanned with CamScanner19.00 20.00 2001 2002 21.00 Ref: GKCI20-21/A/083 Amount in Taka s0,une2020 |] 20 Jone2019 Selig & Diviutig apes Sat Alowene THRE] Tae Ca Fexpenese 2p96300|] 2494000 Cones 1283862 183632 Entrant i322 92388 Peking apes ssn] az Sales Promotion Expense ‘ese0|] saan Casings Osta yawsau] — 1ar9sis Expr expen toes200 |] tesase Frag cps Ziasacs|] 2238578 Postage & Courier 102,750 93,732 Leading & Unig 20755] 363 Mietancous Epes 17900 raat Moi, Teepone ac Expenses veaes nam Sane Ene soa9ss|] same Depcion sex) a, a Financial Expenses Dank Chg end test 4omsis——sonaas Inert on WEPF ond eno fr th PY 2018-19) 40 ae es Non operating tacome PDRinerest aam2u 1214556 Reali panos) noo (676) 38a Uneaied ganas) Noe dom (628 135096. 137 eae grin os) Yate expr colecion on teng ses bokng we USD 322722572@H4TE 7I9OSY TEI 385530502 Valucofexporeaiecionen awcugereaned a USD343093055@) 8460 __278525020.__38728,25 (2676, sam Unread gia) ‘Valu inpot Payable on veg: ate USD 2444,69.640) 8495 2on76388 . alc of taport Bil Peet en verge te USD 24841 6808512 28.092.186 a Valu of sing esac ones ooking rte TOT. = Vac cls eccvableo ear end rae Soorso4 SIH 383 Income Tax Cuneat Ta rior 3048053 4596801 Detaed Tex dar arn 2¢374 3a ——aarsass Page 18 Scanned with CamScanner2101 2102 22.00 23.00 Ref. GRCR0-2UAN083 (Current Tax Profit before tax as per account Profit from business export) Profit fom Non-busness source (other income) “Tax on profit rom business (export) @50% exclusion fom total income unde: par 28, PartA, 6th schedule of ITO, 1984, ‘Tax on profit from non-business source in regular ate @32.5% Current Tax @ 325% Minimo Ta: Gross Receipts . Minimum Tax @ 0.6% - TDS at Source ‘Whichever is Higher ftom above calculation (A, B & C) Deferred Tax \Weiten down value as pe 3d schedule of ITO 1984 Wiriten down value as pr financial statements Unealized Gain'Loss) ‘Temporary difference Curren Tax rate on Export Business Income (2.52216.25%) Deferred Tax during the period Barnings per share (Basie) A.Net Profitafer Tax B, Weighted average numer of Share oustanding Parnings per Share (A/B) Earnings per share (Adjusted) 30 June 2020 |] 30 June2019 18,295,773 24,455,190 16,055,559 | __22,642,432 2240214 1.812758 2,609,028 3,962,426 439,065 634.465 3.048.093 4556991 324,709,673 387,277,080 1,948,258 2,323,662 1,642,941 1,097,446 308,093 Ea t9474s1s 12,704,302 22161335 14,284,725 (362,483) 2.324237 15800 16.25%. 750% S768 216574 146,565 19,581,725 90.411 1a ‘net Prater 1656s g.szas Total mumbo Sha oustanding \sc000i0, 15000000 arias per Shae (Adoted) cn iat Weed |] Weahea Partials Namberot] weigh | aseagenoot [| average vet ares || Sear oping No of Sie 2aroew0 | 96065 | 2000900 |” — 2000000 erator af sae Gang ETEIOTTS | von ooo | aa ooan052020 oon | aaanes | sesnatt : Taal T5000 Taaeeat | S000 Net Ase Vals (NAV) er Share Tel Ast 4ossiv4s7—wotsa9s tess: To Lites aaiaee3s0__es8313 [A Net set Valu (NAY) 450 ——asron. 3. Tt Numer of Shae oustntog 15001000. ——20mn 00 ar 2036 [Net Asset Value (NAV) Per Share (A/B) Pave 19 Scanned with CamScanner2400 25.00 2600 27.00 Ref: GRC0-21/A083 Amount in Taka 30sune2020 |} 30 June 2019 ‘Net Operating Cash Plows Per Share (NOCFPS) [Net Operating Cath Flows (Numerator) Number of Ordinary Shares (Denominator) [Net Operating Cash Flow Per Share (NOCFPS) 277,878,400) (15,720,701), Tossoant____2000,000_ 25.99 786) Disclosure as pr requirement of Schedule XI, Part Ml, Note Sof Para 3: Employee position ofthe company a June 30,7070: es Officer & Sart = lary (Mont orker eo 2 Factory | Head Office Number of employees whox ala below TE 13,000 per month 2 2 : umber of employes whose sear above Tk 13,000 per month 2 a = Teal z a a Besides these mentioned above nthe schedule the company hire 10 to 15 daily payment bass casual worker as on Fequirment to whom paid cash ll these casual worker are hired from Local area in eference of intemal and extemal source without making any fixed contact Payment information to Directors a per requirement of schedule XI, part If, Para 4 [No Payment has been pai to directors within the period ending 30 June, 2020 in any ofthe following id or payable during the financial period to the directors, ineluding managing dector, [Managerial Remuneration |nanaging agent or manager (}) [Expenses reimbursed to the managing age (| Comamission or other remuneration payable separately t a managing agent or his ssocate; [Commission received o eceivableby the managing agent or his associate as selling or buying agent of ether Jeoncems in respect of contacts entered into by such eoncerns withthe company; @ o (o [Memonsy value of th contacts fo the slo purchase of goods and mato supply of serves, entered into by the company with the managing agent or his associate during the financial period, (0 [Any other perquisites or benefits in cash or in kind stating, approximate money value where practicable; Te) [Other allowances and commission ncloding goaraniee commission. (h) [Pensions et. [@ Pensi [i Gratuits i) Payers Tom a provident funds, excess of own subscription and intaest thereon iv) Compensation for loss of office (o) Consideration in connection with reirenent from ofhoe. Related Party Transaction: ‘As per IAS 24: Related party disclosure and as defined in the Securities & Exchange Rules 1987 the related pany transaction areas follows “The Company caried out a number of transactions with related parties inthe normal course of business, The nature of transactions and thei values ae shown below: Name Nature of transaction | Received | Payment Balance Marine Safety System lnvercompany loan [129,034,131 | 129,590,767 || _ 5,687,305 Page 20 Scanned with CamScanner28.00 Cash tow generated from operating acti Particulars Profit before Tax ‘Add: Depreciation (nereaseyDecreaseinlaventores (UncreaseyDecrease in Trade Receivable (IncteaseyDecreasein Advance, Deposit & Prepayments Increase/Decrease)in Creditors & Accruals ‘Cash payment against Income Tax Net Cash Generate from Operating A¢ 23.00 Payment to Sup; coas Increase decrease) in inventory (increase decrease in Accounts payable and labiliies fr expenses Less: Manufacturing overhead Paid to Suppliers 30.00. Operating expenses paid Office & administrative expenses Selling & dsteibution expenses ‘Add: Worker profit participation Fund(WPPF) ‘Add: Factory overhead Inerease/(Decrease) In Prepaid exp.( Advance) Less: Non cash Dep. Less: Preliminary expenses writen off 31.00 Events after reporting period Amount in Taka lies wader Indirect Method: 30,June 2020 |} 30 Zune2019 Amount (Tk) 1829873 1,467,390 9,763,163. 239.856.741) (45,690,329) (0.712300) 2,739,050 276.235,459) 1.642.941 (277,873,400 235023873 340,317,529 239856741 41,371,625 2,739,051 (@26,025) (63839.512) ___ (7,603,095) Sn, asus 4687177 5499431 12127,712 12,302,768 ‘914789 1322759 639512 703.095 34,569,190 26878.049, 7,112,500 378080 (1467,390) (1,587,193) 115,700) Sao 5.503.236, ‘Thetis no significant events between financial statements closing date and auditors report signing date. 32.00 Production Capacity ‘The production capacity and utilization ofthis reporting period (12 months) ae as follows: Particulars Quantity in Nt Ton Installed Capacity 335 [Actual Production 7a Capacity Uization >) 14 Production Capacity is significantly unused due o lower quantity of export onde. 33.00 Bank Guarantee ‘The company have no Bank Guarantee on the reporting dat. 34.00 Claim Acknowledgement ‘There was no claim agains the Company not acknowledged a deb as on June 30,2020, 3500. Foreign currency earned ‘The company ha earned he entire sales proceeds inthe form of foreign cuency against export sales, 36.00 Foreign currency payment ‘The company incurred foreign currency expenses through import of raw materials. Ref, OKC2021/A083 Page 21 Scanned with CamScannerzzabed E80/V/IZ-OZONO FU jam hau) $e Auesse00u JOU 919m Sasso] juaUU!eCL 19 40 saya] Aq painoes ove sajqenieoed sjuncose Out, ‘Amp pozees 210m saiqqoay00 ey pua poued o} wanbasqng "2/9820 ‘ue jo wogluBooa1 ‘Auedwoo ou) 0} Suipsoooy “yueg $yewoysn pans: sesso juouujeduy (2 oosteey, ezez005 . : syquow x16 UeUy ex0NY ooo'tee'y 6z6'1z0'08 ssuguow xs veu} $537 -mojog se pabe ayem aigentooau sjunosoy 9094 Jo BuroBy (q we aes 897 err as ‘Bee oy ere squwskedaid 9 ysodag ‘soueapy ooe'tee's 6z6'1z0'0s. ‘ajgeniaoau syunoooy BRL er roc oun OF ‘ocor Unt OF ‘sem ayep Bunsodas 0} ainsodka wnwpew a4j “einsodxa ypar wnuinew 2 sjuasaidal sjesse je:oUeUY Jo junoWe BuueD BY) su aIpau9 0} aunsodx3 (e "jue sJeworsng Aq panss} say" Aq paungas ose 5] oly S9lqenje0a sjunosoe s} sjep Bursodan aig ye Ystsjpa19 0} aunsodxe wnuwixew $AuediOg su TOHEW © 98u Aypinbry « ‘suownyisu epueuy Jo asn sy bu moe seu / 6 1 woy sys Bumoyo} ay ©} ansodko sey KuedwoD u vowswen wowebevew su 6 fueduoo oJ sono pLe juaUusygese exh Jy AnysUOdse!yetano Sey wouleBeueUl 24, juowebeuew ysu jeoueULy 2020100 Scanned with CamScannereco'ser'es wor'eus'o1z, ga of Los Uy eroz aun OF ozoz aun OF 09 tee» sz6'1z0'0s sroz unr og | Ozoz URE OF JoyeWW joqUoD pue sbeUeW oj s} weWaBeUEW ys11J2HJeUN Jo anyo2! ez abeq E8O/V/IZ-OCOND FU FOTO eS ysis ayes ysouaqu (q (14a u wunowe) vod isuiebe aigenlsoay ‘smoyo} $8 21 0202 ‘OE aun ye Hsu Aave.uNo UB|810} 0} eunsodxe s fuedWOD UL SU ayes eBueyoxe UByex04p4sys Koueung (e ‘uunyas 94 Gurzundo jajowresed axqeidaoce lym seunsodxa Ys NYA Ou} 40 BLUCOUE S fueduio aun yoaye jum sajes WSalequ! pue sajed @Bueuoxo ublel0} Se Yons ‘seoud owseW WI aBueYD Aue TEM ¥SH Bul S| HSL 1OXLEYH su IONE [—seozereseeoveres “to veres = “eeoueres ___ecouar es ec0 Zar es suo] Suyeag sere wiio! uoUs| 6402 eunr o¢ ve sy| [-verezroie _ssreurole “ssverroie #5 e101 vey ect olz ‘sueo| Buuesd ysarequ! wre, yous} BRL BRL Per OL ozoz eunp o¢ ye sy| ua 404 § onogy seek | ord smoyyseg — noUe BuakueD ‘sueinonied 94) 0} aBewep Burst 10 sesso} aiqerdeaneun 64 y2au oj Aupinby waroyins axey shee peosdde s (uedwog aus ‘onp je} Aayy, :Smoyo} $e axe Auedwoo aig jo sequigey leoUeUY Jo saquMeW jenypeUOD BY eins: s {uedwos Scanned with CamScannerEYO-WIIT-OZDNO JH | Tara mo, —— unnqunsicr 9 Bumas . olreasuupy nee _uoqpependoq go voneDonty Taran [aves [rrr [arse seruaae TerLOOT GIOE sang OF woe DITA weet weve [ee Roo f : ay sag rd WUE oer Toe sara ca we core Teas ¥ PindND) cece | eaweRds —_[eFORTT [as sor [orn [= Sor SEEnenan) croravoe | storv00e | pepadam | storz010 | ang | ator9n4 s10rt0'10 oe aT OE |ucessuetey [Supp psaueya] ese souejea] “yo! | uose aseeen pesesneneg ee uwoa wana amt { wonepsadaq wep 6107 sup of es OceLOrT L Goose penstusupy sear Suumisesaueyy :wonepsasdag Jo wone30uV seer eoooRT | O6e LOFT OLF Tes SOC EL | OOOFFES ‘Oz0z var Of 40 se DURE] 9STLS ral oy OLS, [oos'se “aanaxty 3p sanaruing| Lrg OKe se “itor ‘ove GOs ERL Buna 3p BInswOD| ‘zertorel | eocoree | raceert | casas : SEUMPEN y wtId| (000'%es8 z 9 = 0, overs Tesado|SC PUP PR PRT] exorov0e | oxorsvor | pomdea | Giorzoto | dq | oror900e popad | uosvanjus [uo se asueed [2unp patieyo| ese aoucied| jo | voseasuewa | sy uojppy aqmnieg Mog Man AS wonepardha ami OD, Yarnny ozoz unr or esy wuowdeaba yy woyy “sadazg 0 2]np24>s AB.LUNIT SAOTIV ODTVIN Scanned with CamScannerszsted S80VZ-000%0 Fu “aeaese 104, LevLese BA SOVSHL — [TOTSHTTS se eeeor [rem eseIs [Exo aceani [em LseT [SHOU TIEr “al worecit —Suveseree [rev sero [FA rostio9s | TeoTOTIIe MorvELIes | ovwRTT —_[FHOOVTIE aS pH] VI Faso TOA 919 SUNG POS —_JaK DP Fung UoTINPOAT Faiado p05 PaUSTTA | SoS Groot PAceo _[ ores seocotee ocr Sucre pe NSIC | ers Pe a B9CEIL Buisrecs | Toscorer [Sxaoceorer | @reverar [SNeponsser | prcaOT [nese camo] | GIST NDTIS [Ree seve SHES ELEN | wT TONER [SALON | eloTey MEP VEIT ansaea] al Ser sass [NIT eoore | OLLOLw ea [SH avecceey | FETSOTELT [SHLESRERDE | FLOTETT Tegece_|_ eensstonv ndtv] TROD Tonpoig pausibia or PanaysUeIE| seat aia BuLnp paniaory quedo TaeaTORTAA Bese 1 66r'e sx ecwverct | eLrest9c [eucrovoore [ieseores [SNovopsise| visvoLy _|SHooeseLe eens eT) Ga] “a B9ERSOTT SH icesess — [eorresst [FNaronsser | sso Lsss¢ |Sxecoseorc | oss eere _ |[SWov errr eng unum] | TECTLE DE Aico oO ey FA Lo eco! | ys TELL [SUI LoRIIc | cecoNs’s __[FAIcvaINT aasua] “al ssrists!_ [iceccesy | socoreecr Fuce sever | Teasoeoe EXeoTecee | cer Core — PNDO GEL | Ree MoV RUS] | POE L80EST TEE APA T Turowy—| —TaaRN TROY aT TaRomy | ATER Tammy — [AAR THRO. woRDAPOR OL parapsueL RTA aed waaay aimpayag A1oyuaauy 5 n0q (0202 2ung o€ pepus pousd ayy soy ALUN SAOTIV OOTVIN Scanned with CamScannerNIALCO ALLOYS LIMITED For the period ended 30 June. 2020 Name wise Shareholding position st ae [Amount Subseribed] [Name of Subscriber Poston | No.of Sh carry 1 |Gaai Motawam Al Chowdhury [Chaiaman 0,000 166,400,000, 2 [kamal Uddin Ahmed [Managing Director | 7,405,000 74,050,000 3 [Matin Uddin ahmed Director $00,000, 5,000,000 4]. ual Amin Shareholder 700,000. 3,000,000, ‘5 |e. Bela uaain Shareholder 45.000, 430,000, ‘5 |Farhana ilar Shareholder 700,000 7,000,000 7 _|satvajit Sha [Shareholder 10,000 100,000 Tout 15,000,000, 750,000,000 ane28 Ref GRC0-21/4/085, Scanned with CamScanner