BSRM Steels Ltd
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Transcript of BSRM Steels Ltd
Serial Subject Matter NotesNo. On
1 APPLICATION OF FUNDS:Fixed Assets - at cost 4Less: Accumulated DepreciationNet non-current assetsInvestment 7Capital Work-in-Progress 5Total non-current assets
2 CURRENT ASSETSInventories 8Accounts receivables 9Due from affiliated company 10Advances, deposits and pre-payments 11Cash and Bank balances 12Total Current AssetsTotal assets
3 CURRENT LIABILITIES:Trade creditors- subsidiary 15Short term liabilities 16Liabilities for expenses 17Advance against sales 18Current portion of Syndicated Term Loan (Long Term Loan) 19Liability against Share Application Money 20Provision for Income Tax 21Provision for WPPFOther Liabilities 22Total Current Liabilities
4 SOURCES OF FUNDS:Shareholders' funds:Share Capital 13Less: Accumulated Loss
Syndicated Term Loan (Long term loan) 14Total EquityTotal liabilities and equity
Figures As At Figures As At Figures As At31.12.2011 31.12.2010 31.12.2009
4,526,023,580 4,315,018,100 3,884,923,821 (692,703,783) (502,020,346) (316,428,223)
3,833,319,797 3,812,997,754 3,568,495,598 1,045,000,000 1,045,000,000
179,256,651 10,210,801 1,655,150 5,057,576,448 4,868,208,555 3,570,150,748
6,452,929,268 3,649,002,576 3,303,134,020 3,438,356,670 846,869,584 762,047,139 3,298,025,756 1,779,420,958 893,362,894 2,823,948,039 911,966,595 1,178,434,542
539,260,326 178,629,227 188,235,147 16,552,520,059 7,365,888,940 6,325,213,742 21,610,096,507 12,234,097,495 9,895,364,490
2,634,260,710 945,009,702 14,002,198,271 7,020,143,339 7,272,573,290
125,085,018 81,579,348 67,127,022 225,388,457 311,952,056 348,124,235 597,401,002 468,758,657 415,346,724
7,901,815 8,026,815 8,581,826 12,872,260 5,000 50,637,933 50,930,202 30,215,223 29,711,058 15,198,734 22,145,074
17,736,310,918 8,901,598,853 8,164,118,394
3,255,000,000 2,712,500,000 1,450,000,000 (280,919,354) (577,624,404) (1,325,010,389)
124,989,611 872,704,943 1,197,623,046 1,606,256,485
2,975,080,646 2,134,875,596 1,731,246,096 21,610,096,507 12,234,097,495 9,895,364,490
Figures As At Percentage change in 200931.12.2008
3,714,156,022 4.60%(134,212,754) 135.77%
3,579,943,268 -0.32%#DIV/0!#DIV/0!
3,579,943,268 -0.27%#DIV/0!#DIV/0!
2,615,913,391 26.27%377,728,509 101.74%387,356,311 130.63%307,082,700 283.75%
1,439,357,882 -86.92%5,127,438,793 23.36%8,707,382,061 13.64%
#DIV/0!#DIV/0!#DIV/0!
5,721,109,289 27.12%48,614,146 38.08%46,548,082 647.88%
370,344,383 12.15%960,549,736 -99.11%
#DIV/0!#DIV/0!
15,742,045 40.67%7,162,907,681 13.98%
#DIV/0!#DIV/0!#DIV/0!
1,450,000,000 0.00%1,899,094,620 -169.77%(449,094,620) -127.83%
1,993,569,000 -19.43%1,544,474,380 12.09%8,707,382,061 13.64%
Percentage change in 2010 Percentage change in 2011
11.07% 4.89%58.65% 37.98%
6.85% 0.53%#DIV/0! 0.00%
516.91% 1655.56%36.36% 3.89%#DIV/0! #DIV/0!#DIV/0! #DIV/0!10.47% 76.84%11.13% 306.01%99.18% 85.34%
-22.61% 209.65%-5.10% 201.89%16.45% 124.72%23.63% 76.64%#DIV/0! #DIV/0!#DIV/0! #DIV/0!#DIV/0! 178.75%-3.47% 99.46%21.53% 53.33%
-10.39% -27.75%12.86% 27.44%-6.47% -1.56%
-100.00% #DIV/0!68.56% -0.57%
-31.37% 95.48%9.03% 99.25%
#DIV/0! #DIV/0!#DIV/0! #DIV/0!#DIV/0! #DIV/0!87.07% 20.00%
-56.41% -51.37%-100.00% #DIV/0!
-25.44% -27.13%23.31% 39.36%23.63% 76.64%
Vertical analysis of 2009 Vertical analysis of 2010
39.26% 35%-3.20% -4%36.06% 31%
0.00% 9%0.02% 0%
36.08% 40%0.00% 0%0.00% 0%
33.38% 30%7.70% 7%9.03% 15%
11.91% 7%1.90% 1%
63.92% 60%100.00% 100%
0.00% 0%0.00% 0%0.00% 8%
73.49% 57%0.68% 1%3.52% 3%4.20% 4%0.09% 0%0.00% 0%0.31% 0%0.22% 0%
82.50% 73%0.00% 0%0.00% 0%0.00% 0%
14.65% 22%-13.39% -5%
1.26% 0%16.23% 10%17.50% 17%
100.00% 100%
Vertical analysis of 2011
21%-3%18%
5%1%
23%0%0%
30%16%15%13%
2%77%
100%0%0%
12%65%
1%1%3%0%0%0%0%
82%0%0%0%
15%-1%0%4%
14%100%
Serial Details Notes Figures As AtNo No 31.12.2011
Revenue 24 31,234,710,327 Less: Cost of goods sold 25 (29,320,135,355)Gross Profit/(Loss) 1,914,574,972
Selling and distribution costs 26 (356,778,132)Administrative costs 27 (188,841,722)
(545,619,854)Trading Profit/(Loss) 1,368,955,118 Add: Other income 28 740,712 Results from operating activities 1,369,695,830
Finance costs 29 (403,745,379)Finance income 30 46,808,218 Share issue expenses
(356,937,161)Net profit before tax and WPPF and Welfare Fund 1,012,758,669
Contribution to WPPF and Welfare fund (50,637,933)Net Profit before income tax 962,120,735
Income tax expenses:Current tax:Current yearPrevious year
(122,915,685)Net profit after tax for the year 839,205,050 Other comprehensive income
839,205,050 Earnings per share:Basic earnings per share 31
Figures As At Figures As At Figures As At31.12.2010 31.12.2009 31.12.2008
22,007,682,247 15,843,586,337 5,483,534,721 (20,077,963,771) (14,260,296,021) 6,794,902,299
1,929,718,476 1,583,290,316 (1,311,367,578)
(229,990,861) (134,073,279) 77,173,729 (149,192,340) (82,846,763) 38,428,537 (379,183,201) (215,264,042) (115,602,266)
1,550,535,275 1,366,370,274 (1,426,969,844)1,002,724 678,716 59,727,771
1,551,537,999 1,367,048,990 (1,367,242,073)
(534,730,126) (769,713,119) (515,362,252)1,796,175 8,359,685
(1,391,102) (16,490,295)(532,933,951) (762,744,536) (531,852,547)
1,018,604,048 604,304,454 (1,899,094,620)
(50,930,202) (30,215,223)967,673,846 574,089,231 (1,899,094,620)
(493,948) (5,000)(2,293,913)(2,787,861) (5,000)
964,885,985 574,084,231 (1,899,094,620)
964,885,985 574,084,231 (1,899,094,620)
53.12 34.43 (153)
Percentage change in 2009 Percentage change in 2010
189% 39%-310% 41%-221% 22%
#DIV/0! #DIV/0!-274% 72%-316% 80%
86% 76%-196% 13%
-99% 48%-200% 13%
#DIV/0! #DIV/0!#DIV/0! #DIV/0!
49% -31%#DIV/0! -79%
-92% -100%43% -30%
-132% 69%#DIV/0! #DIV/0!#DIV/0! 69%
-130% 69%#DIV/0! #DIV/0!#DIV/0! #DIV/0!#DIV/0! #DIV/0!#DIV/0! 9779%#DIV/0! #DIV/0!#DIV/0! 55657%
-130% 68%#DIV/0! #DIV/0!
-130% 68%#DIV/0! #DIV/0!
-123% 54%
Percentage change in 2011 Vertical analysis 2009
42% 100%45% -90%
-78% 10%0%
55.13% -1%26.58% -1%43.89% -1%
-11.71% 9%-26.13% 0%-11.72% 9%#DIV/0! 0%#DIV/0! 0%-24.50% -5%
2505.99% 0%#DIV/0! 0%-33.02% -5%
-0.57% 4%#DIV/0! 0%-0.57% 0%-0.57% 4%
#DIV/0! 0%#DIV/0! 0%#DIV/0! 0%
-100.00% 0%-100.00% 0%4308.96% 0%
-13.03% 4%#DIV/0! 0%-13.03% 4%#DIV/0! 0%-41.64% 0%
Vertical analysis of 2010 Vertical analysis of 2011
100.00% 100%-91.23% -94%
8.77% 6%0.00% 0%
-1.05% -1%-0.68% -1%-1.72% -2%7.05% 4%0.00% 0%7.05% 4%0.00% 0%0.00% 0%
-2.43% -1%0.01% 0%0.00% 0%
-2.42% -1%4.63% 3%0.00% 0%
-0.23% 0%4.40% 3%0.00% 0%0.00% 0%0.00% 0%0.00% 0%
-0.01% 0%-0.01% 0%4.38% 3%0.00% 0%4.38% 3%0.00% 0%0.00% 0%
Details Share CapitalTk
Balance at 01 January 2008 568,125,000 Ordinary Shares issued during the year 2008 881,875,000 Net loss after tax for the periodBalance as at 31 December 2008 1,450,000,000
Balance at 01 January 2009 1,450,000,000 Net Profit after tax for the year 2009Balance as at 31 December 2009 1,450,000,000
Balance as at 01 January 2010 1,450,000,000 Issue of Bonus Share during 2010 217,500,000 Issue of Ordinary Share on acqusition of BISCO 1,045,000,000 Net profit after tax for the year 2010Balance as at 21 December 2010 2,712,500,000
Balance as at 01 January 2011 2,712,500,000 Issue of Bonus Share during 2011 542,500,000 Net Profit after tax for the year 2011Balance as at 31 December 2011 3,255,000,000
Share Money Deposit Accumulated Loss TotalTk Tk Tk
675,860,000 1,243,985,000 (675,860,000) 206,015,000
(1,899,094,620) (1,899,094,620)(1,899,094,620) (449,094,620)
(1,899,094,620) (449,094,620)574,084,231 574,084,231
(1,325,010,389) 124,989,611
(1,325,010,389) 124,989,611 217,500,000
1,045,000,000 964,885,985 964,885,985
(577,624,404) 2,134,875,596
(577,624,404) 2,134,875,596 (542,500,000)839,205,050 839,205,050
(280,919,354) 2,974,080,646
Details
a OPERATING ACTIVITIES:Paid against revenue expenditureReceipts from customers for sales
Paid to suppliers against procurement of raw material and finished goodsPaid to suppliers against procurement of consumablesAdvance received against salesAdvances madePayment for share issue expensesPreliminary expensesSecurity DepositsVAT PaidPre-paymentsReceipt against other incomePayment of interestShort term loan paid to Bangladesh Steel Re-Rolling Mills Ltd-netIncome Tax PaidNet cash used in Operating Activities
b INVESTING ACTIVITIES:Acquisition of Fixed assetsDisposal of fixed assetsCapital Work-in-progressNet cash used in Investing Activities
c FINANCING ACTIVITIES:Short term loan paid to group companiesTerm Loan- BMREShare issued during the yearRepayment/Receipt of Syndicated Term LoanShort term loan receivedShare application money refund/receiptNet cash provided by Financing Activities
Total (a+b+c)
Opening cash and bank balancesClosing cash and bank balances
Figures as at Figures as at Figures as at31.12.2011 31.12.2010 31.12.2009
(808,132,671) (648,524,617) (585,221,668)28,334,151,540 21,564,972,420 15,412,719,625
(28,536,511,433) (17,453,808,223) (13,838,944,385)(632,842,035) (469,417,526) (237,354,349)225,388,457 311,952,056 348,124,235
(2,708,931,694) (806,084,550) (1,108,627,971)(1,391,102)
(790,325) 40,000 (23,633,518)(3,509,171) (1,678,230) (3,151,346)
(2,477,544)47,560,010 2,943,209 9,038,401
(480,770,785) (648,891,703) (822,966,545)(771,896,487) (452,753,157)
(116,528,124) (41,792,742) (29,246,379)(4,680,316,231) 1,037,813,607 (1,335,885,703)
(213,905,995) (431,792,408) (170,767,799)2,570,000 1,135,000
(169,045,850) (8,555,651) (1,655,150)(380,381,845) (439,213,059) (172,422,949)
(1,180,755,654) (771,896,487)258,094,904 56,224,000
(454,370,662) (411,445,506) (342,310,174)6,799,085,587 (252,429,951) 1,551,464,001
(125,000) (555,011) (951,967,910)5,421,929,175 (608,206,468) 257,185,917
360,631,099 (9,605,920) (1,251,122,735)
178,629,227 188,235,147 1,439,357,882 539,260,326 178,629,227 188,235,147 360,631,099 (9,605,920) (1,251,122,735)
Figures as at31.12.2008
(462,181,919)5,105,806,212
(8,998,726,972)(55,469,507)46,548,082
(178,462,001)(16,490,295)
(302,846)(557,461)(923,627)
(2,454,334)32,787,771
(407,314,724)(380,785,462)
(9,406,694)(5,327,933,777)
(467,949,892)
(467,949,892)
206,015,000 339,455,957
5,721,109,289 960,549,736
7,227,129,982
1,431,246,313
8,111,569 1,439,357,882 1,431,246,313