Balance Sheet 2014 2015

Property Plant & Equipment 2,390.93 2,335.29

L.T. Investments 89.08 89.67
- -
Total Non Current Assets 2,480.01 2,424.96
Inventory 378.03 272.45
Trade & other receivables 576.57 530.14
Advance and deposits 114.42 169.60
Cash & cash equivalents 61.11 31.24
Total Current Assets 1,130.13 1,003.42
Total Assets 3,610.13 3,428.38
Stated capital 382.00 382.00
Share Premium 382.00 382.00
Tax holiday reserve 139.88 139.88
Revaluation Reserve 1,207.13 1,149.73
Retained Earnings 12.79 16.36
Total Equity 2,123.80 2,069.98
Long term loans 34.76 20.72
Defferred Tax Liabilities 2.14 2.57
Provision for gratuity - -
Total Non Current Liabilities 36.90 23.29
Trade & other payables 173.46 104.50
- -
Short term loans 1,077.58 1,046.01
Current portion of interest bearing borrowings - 0.10
Other current liabilities 198.39 184.50
Total Current Liabilities 1,449.43 1,335.11
Total Owners Equity & Liabilities 3,610.13 3,428.38

Income Statement 2014 2015

Revenue 2,021.19 1,714.84
Costs of Sales 1,736.63 1,472.55
Gross Profit 284.56 242.29
Distribution expenses 14.04 10.05
Administrative expenses 57.54 46.72

Operating Profit/ (loss) 212.99 185.52

Employee benefits expenses 2.70 (2.45)
Finance Expenses 158.07 (135.62)
Finance Income - -
Other revenues and profits 4.89 4.14
Other expenses 3.03 (2.64)
Profit / (loss) Before Tax 54.07 48.96
Income Tax Expense 9.56 7.77
Profit / (loss) for the Period 44.51 41.19
Dividend paid (37.61)
(Purchase) Disposal of Property, Plant & Equipment (83.53)
Depreciation Expense 81.77
(Acquisition)/ Disposal of Investments (0.59)
(Investment) Sale of Intangible Assets -
long term loan /(repaid) (13.94)
Short term loans/(Repaid) (31.57)
tax rate 0.1588

Net Income 41.19

After tax net interest expense (income) 114.09
Net CF from (investment in) operating WC 13.98
Items not affecting cash
Cumulative effect of accounting change
Depreciation 81.77
Deferred Income taxes & Other operating accruals 0.43
Amortization and others

Cash Flow from Operations 251.45

(Purchase ) Sale of Short term Investments
(Purchase) Sale of LT Investments (0.59)
Net (investment in) liquidation of operating LT Assets (83.53)
Free CF available to debt and equity 167.33
After-tax net interest (expense) or income (114.09)
Net debt (repayment) or issuance (45.51)

Free CF available to equity 7.74

Dividend (payment) (37.61)
Net stock (repurchase) or issuance
Net increase (decrease) in cash balance (29.87)
Beginning Cash Balance 61.11
Ending Cash Balance 31.23

Cash received from customers 2,007.69 1,765.41

Payment to suppliers, employees and others (2,124.21) (1,489.22)
Income tax paid (21.59) (10.70)
Interest Paid (152.20) (132.01)
Net Cash Generated from Operating Actvities (290.31) 133.48
Purchase of Property, Plant & Equipment (0.07) (83.53)
(Acquisition)/ Disposal of Other Investments (111.59) -
Investment in Intangible Assets - -
- -
Net Cash Flow from Investing Activities (111.66) (83.53)
Interest and bank charges paid (long term) (5.87) (3.61)
long term loan paid (52.19) (13.94)
Loan repayment - -
Short term loans/Investments 515.22 (31.57)
Dividend paid to equity holders of parent (30.39) (30.71)
Net Cash Flow Financing Activities 426.77 (79.83)
Increase (decrease) in Cash 24.80 (29.87)
Cash at the begning of the period 36.31 61.11
Cash at the end of the period 61.11 31.24
 Balance Sheet 2015 2016
Property Plant & Equipment 3,226.50 4,063.34
Intangible Assets 56.28 56.28
Total Non Current Assets 3,282.78 4,119.63
Inventory 1,915.08 1,737.97
Trade & other receivables 2,289.54 1,644.72
Short term investments 38.04 -
Advance and deposits 459.25 568.83
Cash & cash equivalents 709.07 1,278.77
Total Current Assets 5,410.98 5,230.29
Total Assets 8,693.76 9,349.92
Paid up capital 1,478.62 1,626.49
Retained Earnings 5,028.38 5,733.09
Total Equity 6,507.00 7,359.58
Defferred Tax Liabilities 204.79 223.83
Total Non Current Liabilities 204.79 223.83
Accounts Payables 87.35 65.24
Tax Paybale 389.94 328.99
Other current liabilities 283.94 237.96
Short Term bank loan 1,220.74 1,134.32
Total Current Liabilities 1,981.97 1,766.51
Total Owners Equity & Liabilities 8,693.76 9,349.92

Income Statement
Revenue 8,109.79 12,670.51
Costs of Sales 6,829.68 10,882.28
Gross Profit 1,280.10 1,788.23
Admin & Distribution expenses 219.70 335.41

Operating Profit/ (loss) 1,060.41 1,452.82

Employee benefits expenses 48.80 67.82
Finance Expenses 38.41 28.94
Other revenues and profits 2.71 0.26
Profit / (loss) Before Tax 975.91 1,356.33
Income Tax 166.36 208.03
Profit / (loss) for the Period 809.55 1,148.30
Dividend paid (443.59)
(Purchase) Disposal of Property, Plant & Equip. (1,303.27)
(Acquisition)/ Disposal of Other Investments 38.04
Depreciation 466.43
Short term loans/(Repaid) (86.43)
Stock Issuance 147.86
Tax Rate 0.15338

Net Income 1,148.30

After tax net interest expense (income) 24.50
Net CF from (investment in) operating WC 583.33
Other Items
Cumulative effect of accounting change
Depreciation 466.43
Deferred Income taxes & Other op. accruals 19.03
Amortization and others

Cash Flow from Operations 2,241.59

(Purchase ) Sale of Short term Investments 38.04

Net (investment in) liquidation of PPE (1,303.27)

Free CF available to debt and equity 976.36
After-tax net interest (expense) or income (24.50)
Net debt (repayment) or issuance (86.43)
Free CF available to equity 865.43
Dividend (payment) (443.59)

Net stock (repurchase) or issuance 147.86

Net increase (decrease) in cash balance 569.70

Beginning Cash Balance 709.07

Ending Cash Balance 1,278.77

0.00

2015 2016
Cash received from customers 8,332.27 13,315.33
Payment to suppliers, employees and others (6,878.35) (8,255.08)
Income tax paid - (222.50)
Payment for operating expense - (2,526.12)
WPPF - (53.32)
Interest Paid - (29.70)
Other receipts 0.12 0.26
Other payments - -
Net Cash Generated from Operating Actvities 1,454.04 2,228.87
Purchase of Property, Plant & Equipment (650.48) (1,303.27)
(Acquisition)/ Disposal of Other Investments - -
Net Cash Flow from Investing Activities (650.48) (1,303.27)
Amount due to related parties - -
Interest and bank charges paid (long term) - -
Other Cash flows - 69.04
Bank overdraft (repaid)/increase (454.77) -
Loan repayment - -
Commercial loan - -
Short term loans/Investments 122.89 (129.21)
Dividend paid to equity holders of parent (268.84) -
Dividends Paid - Preference Shares - (295.72)
Net Cash Flow Financing Activities (600.72) (355.90)
Increase (decrease) in Cash 202.85 569.70
Cash at the begning of the period 506.22 709.07
Cash at the end of the period 709.07 1,278.77
 2011 2012
9,680 12,190
169 169
9,848 12,359
5,745 5,214
6,869 6,934
114 -
1,378 1,706
2,127 1,239
16,233 15,094
26,081 28,050
4,436 4,879
15,085 16,602
19,521 21,482
614 671
614 671
262 196
1,170 987
852 714
3,662 3,403
5,946 5,300
26,081 27,453
- -
- -
- -
24,329 38,012
20,489 32,647
3,840 5,365
659 1,006

3,181 4,358
146 203
115 87
8 1
2,928 4,069
878 1,221
2,049 2,848
(1,331)
(3,910)
114
1,399
(259)
444
0.30

2,848.29
60.78
(250.02)
-
-
1,399.29
57.10
-
-
4,115.44
 114.12
-
(3,909.81)
319.74
(60.78)
(259.28)
(0.32)
(1,330.77)
-
443.59
(887.51)
-
2,127.21
1,239.70

0.39
2195.798 3444.901

597
 2014 2015
Fixed Assets 22,550,409,994 27,458,927,028
Investment in Subsidiary 8,314,827,766 14,944,655,977
Total Non Current Assets 30,865,237,760 42,403,583,005
Cash and Cash Equivalents 58,952,845 314,001,654
Inventory 2,406,572,933 2,820,676,850
Account Receivable 26,259,344,971 27,398,224,199
Advance Deposits & Prepayment 35,889,780,788 43,898,468,391
Total Current Assets 64,614,651,537 74,431,371,094
Total Assets 95,479,889,297 116,834,954,099

Share Capital 6,010,185,690 6,890,239,690

General Reserves 26,829,839,240 36,535,229,928
Retained Earnings 17,601,951,003 15,891,870,130
Total Equity 50,441,975,933 59,317,339,748
Long Term Loan 9,342,983,696 31,865,609,537
Deferred Liability 0 1,171,728,688
Minority Interest 0 2,064,427,771
Total Non Current Liabilities 9,342,983,696 35,101,765,996
Accounts Payable 6,727,100,043 8,052,553,685
Short Term Loan 28,967,829,625 14,363,294,671
Total Current Liabilities 35,694,929,668 24,480,276,127
Total Liablities 45,037,913,364 57,517,614,352
Total Shareholders Equity & Liabilities 95,479,889,297 116,834,954,100

Sales 22,161,145,166 34,490,102,247

Cost of Goods Sold 15,154,970,086 22,517,256,154
Gross Profit 7,006,175,080 11,972,846,093
Operating Expenses 883,777,674 1,374,063,818
Operating Profit 6,122,397,406 10,598,782,275
Financial Expenses 5,432,991,535 9,275,954,255
Contribution to Welfare Funds 32,828,851 66,738,772
Profit Before Tax 656,577,020 1,256,089,248
Income Tax 17,556,274 174,408,240
Net Profit 639,020,746 1,081,681,008

Dividend paid -
(Purchase) Disposal of PPE -490,065,063
Depreciation Expense 1,256,389,654
(Acquisition)/ Disposal of Investments (6,629,828,211)
Net Stock Issuance 8,875,363,815
long term loan /(repaid) 22,522,625,841
Short term loans/(Repaid) (14,604,534,954)
tax rate

4,908,517,034
4,418,451,971

Net Income
After tax net interest expense (income)
Net CF from (investment in) operating WC
Items not affecting cash
Cumulative effect of accounting change
Depreciation
Deferred Income taxes & Other op. accruals
Amortization and others

Cash Flow from Operations

(Purchase ) Sale of Short term Investments

Net (investment in) liquidation of PPE

Free CF available to debt and equity
After-tax net interest (expense) or income
Net debt (repayment) or issuance
Free CF available to equity
Dividend (payment)

Net stock (repurchase) or issuance

Net increase (decrease) in cash balance

Beginning Cash Balance

Ending Cash Balance

Cash Received from Customers 20,550,234,540 33,508,909,675

Payment for Costs and Expenses -- -39,079,258,882
Paid to suppliers, employees and others -23,439,031,928 --
Net Cash Generated from Operating Actvities -2,888,797,388 -5,570,349,207
Purchase of Fixed Assets- Equipment -37,924,611 -490,065,063
Gain on Sales of Assets -- 690,000
Net Cash Flow from Investing Activities -37,924,611 -489,375,063
Interest on Loan Received -- 6,293,141,992
Long Term Loan Increased/ (Decrease) 2,905,314,584 --
Net Cash Flow Financing Activities 2,905,314,584 6,293,141,992
Net Cash inflow/ (outflows) for the year -21,407,415 233,417,722
Opening Cash and Bank Balance 80,360,260 80,583,932
Closing Cash and Bank Balance 58,952,845 314,001,654
22,550 27,459
8,315 14,945
30,865 42,404
59 314
2,407 2,821
26,259 27,398
35,890 43,898
64,615 74,431
95,480 116,835

6,010 6,890
26,830 36,535
17,602 15,892
50,442 59,317
9,343 31,866
- 1,172
- 2,064
9,343 35,102
6,727 8,053
28,968 14,363
35,695 24,480
45,038 57,518
95,480 116,835

22,161 34,490
15,155 22,517
7,006 11,973
884 1,374
6,122 10,599
5,433 9,276
33 67
657 1,256
18 174
639 1,081.68

-
(490.07)
1,256.39
(6,629.83)
8,875.36
22,522.63
(14,604.53)
 0.1389

1,081.68
7,987.99
(8,236.22)

1,256.39
1,171.73

3,261.57
(6,629.83)

(490.07)
(3,858.32)
(7,987.99)
7,918.09
(3,928.22)
-

8,875.36
4,947.14

58.95

5,006.10

-489,375,063
233,417,722