half yearly 2012-13 report - marico · april'12 to sept.'12 april'1 1 to...
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Uttara, Dhaka-1230,Tel : + 88(02)8931202 Fax : + 88(02)8932322www.maricobd.com
Marico Bangladesh LimitedHouse # 01, Road # 01, Sector # 01(4th Floor)
Marico Bangladesh LimitedStatement of Financial Position
as at 30 September 2012
30 September 2012 Taka
31 March 2012 Taka
325,642,856 16,275,280
62,500 88,282,527
430,263,163
286,799,911 569,764,751
- 92,045,200
948,609,862
Property, plant and equipmentCapital work in progressIntangible assetsDeferred tax assetsNon-current assets
Assets
InventoriesAccrued interestAdvance income taxAdvances and deposits Fixed depositsCash and cash equivalentsCurrent assetsTotal assets
1,165,193,164 31,887,303
824,342,726 189,379,122
1,394,878,000 249,360,150
3,855,040,464 4,803,650,326
1,777,938,918 30,632,603 717,730,520 464,859,208 610,000,000 171,207,070 3,772,368,319 4,202,631,482
Equity and Liabilities
Share capitalShare premiumRetained earningsTotal equity
Equity
315,000,000 252,000,000
2,411,072,989 2,978,072,989
315,000,000 252,000,000
2,036,194,216 2,603,194,216
LiabilitiesProvision for gratuityProvision for leave encashmentNon-current liabilities
12,388,093 6,399,181 18,787,274
12,388,093 6,419,607
18,807,700
Short term financeLiability for expensesProvision for income taxTrade creditorsPayable to holding companyOther liabilitiesCurrent liabilitiesTotal liabilitiesTotal equity and liabilities
- 209,713,682
986,826,139 378,582,777
209,232,599 22,434,866
1,806,790,063 1,825,577,337 4,803,650,326
100,000,000 228,696,411 826,822,981 215,678,285 177,772,739 31,659,150
1,580,629,566 1,599,437,266 4,202,631,482
Dhaka, 22 October 2012
be more. every day.
Company Secretary Director Managing Director
As per our annexed report of same date
A. Qasem & Co.Chartered Accountants
Apr
il'12
to S
ept.'
12
Apr
il'11
to S
ept.'
11
Jul
y'12
to S
ept.'
12
Jul
y'11
to S
ept.'
11
Taka
Taka
Rev
enu
eC
ost o
f sal
esG
ross
pro
fit
Mar
ketin
g, s
ellin
g an
d di
strib
utio
n ex
pens
esG
ener
al a
nd a
dmin
istr
atio
n ex
pens
esP
rofi
t fr
om
op
erat
ion
Oth
er in
com
eF
inan
ce (
cost
s)/in
com
eP
rofi
t b
efo
re in
com
e ta
xIn
com
e ta
x ex
pens
eP
rofi
t fo
r th
e p
erio
d
Ear
nin
gs
per
sh
are
Bas
ic e
arni
ngs
per
shar
e (p
ar v
alue
Tk
10)
(26
0,62
5,12
8)
(14
7,47
2,99
0)
(
2,28
4,88
6)
25
6,44
6,46
6
291,
250,
699
202,
077,
425
(15
4,08
7,18
2)
(
186,
512,
509)
(
11,5
64,7
22)
458,
580,
873
575,
623,
517
429,
902,
108
(44
7,50
0,05
3)
(
261,
594,
512)
1
,655
,232
470,
429,
707
531,
119,
258
374,
878,
773
A. Q
asem
& C
o.
Cha
rter
ed A
ccou
ntan
ts
Com
pany
Sec
reta
ry
D
irect
or
M
anag
ing
Dire
ctor
A
s pe
r ou
r an
nexe
d re
port
of s
ame
date
Dha
ka, 2
2 O
ctob
er 2
012
Hal
f ye
ar f
rom
2
nd
Qu
arte
r
Ma
rico
Ba
ngla
des
h Li
mite
dIn
com
e st
atem
ent
for
the
half
year
end
ed 3
0 S
epte
mbe
r 20
12
be more. every day.
1,
814,
618,
459
(1
,150
,073
,875
)
6
64,5
44,5
84
3,52
2,39
3,46
6
(
2,72
3,21
2,90
1)
799
,180
,565
3
,460
,144
,199
(2,
280,
619,
926)
1
,179
,524
,273
59,0
34,3
19
128,
607,
365
37,0
89,1
18
(156
,240
,485
)(1
45,7
21,4
09)
(89,
173,
274)
6.9
3 11
.90
13.6
56.
42
(51
,962
,620
)
(
98,6
76,5
41)
(
7,85
0,34
6)
28
1,24
5,17
5
218,
366,
883
1,
802,
043,
899
(1,
425,
251,
489)
376
,792
,410
226,
153,
248
62,
942,
273
(
62,8
78,2
92)
Taka
Taka
Ma
rico
Ba
ngla
des
h Li
mite
d
S
tate
men
t o
f C
han
ges
in E
qu
ity
for
the
half
year
end
ed 3
0 S
epte
mbe
r 20
12
Bal
ance
at
1 A
pri
l 201
1 N
et p
rofit
for
the
half
year
end
ed 3
0 S
epte
mbe
r 20
11
Div
iden
d C
hang
e in
the
fair
valu
e of
av
aila
ble
for
sale
fina
ncia
l ass
ets
(net
)
Def
erre
d ta
x on
cha
nges
of f
air
valu
e of
fina
ncia
l ass
ets
Bal
ance
at
30 S
epte
mb
er 2
011
Bal
ance
at
1 A
pri
l 201
2 N
et p
rofit
for
the
half
year
end
ed 3
0 S
epte
mbe
r 20
12
Bal
ance
at
30 S
epte
mb
er 2
012
2
,462
,597
,327
4
29,9
02,1
08
(63
,000
,000
)
(
2,50
7,43
2)
(381
,827
)
2,82
6,61
0,17
6
2,6
03,1
94,2
16
3
74,8
78,7
73
2,97
8,07
2,98
9
1,8
78,5
74,4
27
4
29,9
02,1
08
(
63,0
00,0
00)
-
-
2,
245,
476,
535
2,0
36,1
94,2
16
374,
878,
773
2,41
1,07
2,98
9
17,0
22,9
00
-
-
(2,
507,
432)
(38
1,82
7)
14
,133
,641
-
-
-
25
2,00
0,00
0
-
-
-
-
25
2,00
0,00
0
25
2,00
0,00
0
-
252,
000,
000
31
5,00
0,00
0
-
-
-
-
31
5,00
0,00
0
31
5,00
0,00
0
-
3
15,0
00,0
00
To
tal
equ
ity
Ta
ka
Ret
ain
ed
ear
nin
gs
Tak
a
Fai
r va
lue
re
serv
e
Taka
Sh
are
p
rem
ium
T
aka
Sh
are
ca
pit
al T
aka
be more. every day.
Marico Bangladesh LimitedStatement of cash flows
for the half year ended 30 September 2012
Cash flows from operating activities
Collection from customersPayment to suppliers and operating expensesNet finance (costs)/incomeOther income receivedIncome tax paid
Net cash from operating activities
Cash flows from investing activities
Acquisition of fixed assetsEncashment of fixed deposits - at costEncashment of investment in GP sharesInvestment in fixed deposits
Net cash (used in)/ from investing activities
Cash flows from financing activities
Dividend paid Gratuity paidShort term finance
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalentsOpening cash and cash equivalentsClosing cash and cash equivalents
3,522,393,467 (3,278,290,498) (8,954,646) 95,245,063 (212,375,196)
118,018,190
(179,628,539) 540,000,000
13,168,950 -
373,540,411
(63,000,000) (137,675) (509,029,613)
(572,167,288)
(80,608,687) 266,612,848 186,004,161
Half year fromApril'11 to Sept.'11
Taka
Half year fromApril '12 to Sept.'12
Taka
be more. every day.
3,460,144,199 (1,895,226,960)
1,655,232 57,779,619 (106,612,206)
1,517,739,885
(554,708,805) - -
(784,878,000)
(1,339,586,805)
- -
(100,000,000)
(100,000,000)
78,153,080 171,207,070 249,360,150
Marico Bangladesh LimitedNotes to the Interim Financial Statements
as at and for the half year ended 30 September 2012
Marico Bangladesh Limited (MBL) was incorporated on 6 September 1999 in Bangladesh under the Companies Act 1994 as a private company limited by shares. Subsequently, the Company was converted to "Public Company" limited by shares vide special resolution passed in the extra ordinary general meeting held on 21 September 2008. The company is a subsidiary of Marico Limited, India and also a listed entity enlisted with Dhaka Stock Exchange Limited (DSE) and Chittagong Stock
The company is engaged in manufacturing of branded Fast Moving Consumer Goods under the brand name of Parachute, Beliphool, Nihar, Cooling Oil, Saffola Gold etc. The company sells its products with its own managed depot from Gazipur, Chittagong, Bogra, Jessore, and Comilla. The
The six months period financial statements have been prepared in accordance with Bangladesh Accounting Standard (BAS) 34 "Interim Financial Reporting", Securities and Exchange Rules 1987, Bangladesh Financial Reporting Standards (BFRSs), the Companies Act, 1994 and other applicable laws and regulations. Board of Directors is of the view that the six months period financial statements fairly represent the Company's position for the period. Prudent estimates have been employed for the preparation of these interim financial statements. Future results could differ from these estimates.
The financial statements of the Company covers one year from 1 April to 31 March. These financial statements cover six months period from 1 April 2012 to 30 September 2012.
The accounting policies and methods of computations followed in preparing these six months financial statements are same as those used in preparation for financial statements of last financial
Reporting entity
Nature of business activities
3.1 Statement of compliance
3.2 Reporting period
Accounting policies
Exchange Limited (CSE).
company started its commercial operations from 30 January 2000.
year ended 31 March 2012.
31 March 2012 Taka
30 September 2012 Taka
Authorised:
40,000,000 ordinary shares of Tk 10 each
Issued, subscribed and paid up:
Issued for cashIssued for consideration other than cash
Share capital
400,000,000
41,500,000 273,500,000
315,000,000
Property, plant and equipment
Property, plant and equipment - at costAccumulated depreciation
517,321,418 (191,678,562) 325,642,856
400,000,000
41,500,000 273,500,000
315,000,000
518,540,754 (231,740,842)
286,799,911
be more. every day.
1.
2.
3. Basis of preparation
4.
5.
6.
Inventories
Raw materialsPacking materials Finished goodsRaw materials in transit
1,241,885,840 108,864,923
224,018,376 203,169,779 1,777,938,918
780,085,756 70,270,395 214,449,555 100,387,458 1,165,193,164
Fixed deposits
Bank Asia LimitedBRAC Bank limitedCitibank N.A.Dhaka Bank LimitedCommercial Bank of Ceylon PLCDelta Brac Housing Finance Corporation LimitedIDLC Finance LimitedHSBCIFIC Bank LimitedPrime Bank LimitedState Bank of IndiaStandard Chartered BankSoutheast Bank Limited
50,000,000 -
- -
50,000,000 50,000,000
170,000,000 150,000,000
- 60,000,000 40,000,000 40,000,000 -
610,000,000
- 51,000,000
250,000,000 50,000,000
- -
250,000,000 573,208,000 10,088,750
- 40,000,000
120,581,250 50,000,000
1,394,878,000
be more. every day.
31 March 2012 Taka
30 September 2012 Taka
Cash and cash equivalents
Cash on hand
Cash at banks and financial institution:Citibank N.A.Standard Chartered BankCommercial Bank of CeylonHSBCDutch Bangla Bank LimitedIDLC Finance LimitedBRAC Bank Limited
108,037,156 2,133,045 1,268,573 27,304,408 1,506,464 2,146 29,319,195 169,570,987 171,207,070
1,636,083 2,428,010
109,687,867 94,403,341 1,267,998 28,712,068 2,587,893
- 10,272,973 246,932,140 249,360,150
Payable to holding company
RoyaltyBank guarantee commission
168,878,753 8,893,986
177,772,739
200,338,613 8,893,986
209,232,599
Comparative figures
Comparative figures have been re-arranged wherever necessary to facilitate comparison.
Subsequent events
No material events occurred after the reporting date, non-disclosure of which could affect the ability of the users of these financial statements to make appropriate decision.
7.
8.
9.
10.
11.
12.
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