BEXIMCO PHARMACEUTICALS LTD.

THIRD QUARTER FINANCIAL STATEMENTS
We are pleased to present the un-audited Financial Statements of Beximco Pharmaceuticals Ltd.
for the third quarter ended September 30, 2011 as per Securities and Exchange Commission
Notification No. SEC/CMRRCD/2008-183/Admin/03-34 dated September 27, 2009.

Beximco Pharmaceuticals Ltd.
Statement of Financial Position (Un-audited)
As at September 30, 2011
As at
September 30, 2011

Taka '000
As at
December 31, 2010

15,845,371
15,710,839
128,233
6,299

15,180,732
15,123,306
51,127
6,299

6,791,092
2,122,763
309,764
992,404
801,728
2,479,345
85,088

6,191,667
1,983,809
276,520
821,356
779,130
859,404
1,471,448

22,636,463

21,372,399

16,891,046
2,517,678
5,269,475
1,689,637
294,951
1,465,930
5,653,375

15,974,087
2,098,065
5,269,475
1,689,637
294,951
1,534,646
5,087,313

Non-Current Liabilities
Long Term Borrowings-Net off Current Maturity (Secured)
Liability for Gratuity & WPPF
Deferred Tax Liability

3,059,086
1,834,634
411,559
812,893

2,885,156
1,902,151
335,886
647,119

Current Liabilities and Provisions
Short Term Borrowings
Long Term Borrowings-Current Maturity
Creditors and Other Payables
Accrued Expenses
Dividend Payable
Income Tax Payable

2,686,331
1,660,673
350,494
531,191
98,414
1,064
44,495

2,513,156
1,639,961
348,860
432,315
90,512
1,508
-

22,636,463

21,372,399

ASSETS
Non-Current Assets
Property, Plant and Equipment-Carrying Value
Intangible Assets
Investment in Shares
Current Assets
Inventories
Spares & Supplies
Accounts Receivable
Loans, Advances and Deposits
Short Term Investment
Cash and Cash Equivalents
TOTAL ASSETS
EQUITY AND LIABILITIES
Shareholders' Equity
Issued Share Capital
Share Premium
Excess of Issue Price over Face Value of GDRs
Capital Reserve on Merger
Revaluation Surplus
Retained Earnings

TOTAL EQUITY AND LIABILITIES

Nazmul Hassan
Managing Director

Ali Nawaz
Chief Financial Officer

146.844) (378.559) (357. Statement of Comprehensive Income (Un-audited) For the Third Quarter Ended September 30.750) 1.217) (2.463) (1.475 (127.025 (1.588) 461.761) (153.005 (56.780.136.767.000) (131.293 932.24 251.828) (456.079.427) 312.067.000.186) (1.141) 968.306) (795.810 3.322) 520.675 2.513) (951.416.667) (351.087) (82.524.762 (21.762 312.788.314 (356.277 (411.320 396.417 1.489) 1.767.892 4.448 Contribution to WPPF Profit Before Tax Income Tax Profit After Tax (63.Beximco Pharmaceuticals Ltd.558) (163.949 Cost of Goods Sold Materials Factory Overhead Depreciation (3.264.974) (176.098) 539.842) 1.593) (1.206 79. Marketing and Distribution Expenses Other Comprehensive Income Total Comprehensive Income Nazmul Hassan Managing Director Ali Nawaz Chief Financial Officer .146 (310.859 402.820 (296.810 1.850) (2.811.053 1.000 (146.320 (25.087) (879.907) 1.810 1.076 (412.407) 2.193.169 (146. 2011 January September 2011 January September 2010 July September 2011 Taka '000 July September 2010 Net Sales Revenue 5.036 88.342.34 251.58 251.048 EPS / Restated EPS of 2010 Tk.539) (330.243) 606.500) 840.364.767.209) (194.767.069.835) 396.788.84 Number of Shares Used to Compute EPS 251.048 968.973) 439.810 Gross Profit Operating Expenses Administrative Expenses Selling.114.005 840.278.034) (269.746) (1.680) 513.924) (643.212.662 (461.045) Profit from Operations Other Income Finance Cost Preference Share Dividend Profit Before Contribution to WPPF 1.599 1.737.989) (60.245) (107.517) (105.301. 3.466 230.597 (116.603 2.

128.592 (383.588) (28.712 Preference Share Dividend Ordinary Share Dividend (444) Net Cash Generated from Financing Activities (45.880) 393.941) (2.415 (356.485.011 85.399.321.187 (146.761) (133.630) Net Increase/(Decrease) in Long Term Borrowings (65.27 1.622 419.883) Net Increase/(Decrease) in Short Term Borrowings 20.125) (1.448 Cash and Cash Equivalents at End of Period 85.847.386.491 1.832 (146.355) (20.088 25.501) (6.300) 1.983 (1.058.181 1.076 (510.684) 831.319) (43.471. 5.269 (313) 12.183) 1.923) 1.160) (1.268 (3.477. Statement of Cash Flows (Un-audited) For the Period Ended September 30.370.495 (153.887) 4.106) (1.633 (1.962.729 (412.360) Cash and Cash Equivalents at Beginning of Period 1.250 (30.920 (4.721) 136.619.342 200.650.677 1.20 Ali Nawaz Chief Financial Officer .617) 758.615) Increase/(Decrease) in Cash and Cash Equivalents (1.254) 568.832) 571.968 2.240.375) 831.122) (15) (4.088 52.113) (77.808.473. Plant and Equipment Intangible Assets Short Term Investment Net Cash Used in Investing Activities Cash Flows from Financing Activities : Net Operating Cash Flow per Share (Restated for 2010) Nazmul Hassan Managing Director Tk.640.983.521.30 2.743) (513.835.012.477.925 3.087 4. 2011 Cash Flows from Operating Activities : January September 2011 January September 2010 July September 2011 Taka '000 July September 2010 Cash Receipts from Customers and Others Cash Paid to Suppliers and Employees Cash Generated from Operations 5.321.489) (113.434 1.299) (1.117 1.925 11.098) (40.309.261 (953.734 (1.744 1.Beximco Pharmaceuticals Ltd.56 Interest Paid Income Tax Paid Net Cash Generated from Operating Activities Cash Flows from Investing Activities : Acquisition of Property.750) (465) 98.833) 1.963) (419.

678 5.046) (51.475 Total Comprehensive Income 419.787. 2010 Share Excess of Issue Price Capital Revaluation Retained Premium over Face Value of GDRs Reserve Surplus Earnings 1.707 840.637 - 294.661 2.951 - - - - . 2010 Share Capital Opening Balance on January 01.597.046) 1.514 10.951 294.670 (51.005 . 2011 Net Asset Value (NAV) per Share Nazmul Hassan Managing Director 1.661) (20.951 Total 1.Beximco Pharmaceuticals Limited Statement of Changes in Equity (Un-audited) Taka '000 For the Period Ended September 30.005 .089 .(273.951 312.689.282.09 Ali Nawaz Chief Financial Officer .86 For the Period Ended September 30.087.065 5.320 840.930 5.320 - - 312.613) (17. 2010 Total Comprehensive Income Preference Shares Converted into Ordinary Shares Premium on Conversion of Preference Shares net off Expenses Stock Dividend for 2009 Adjustment for Depreciation on Revalued Assets Closing Balance on September 30.839 1.617.968.689.911 . 2011 2.375 16.(419.027 Tk. 67.534.637 1. 2011 Share Capital Share Excess of Issue Price Capital Revaluation Retained Premium over Face Value of GDRs Reserve Surplus Earnings Opening Balance on January 01.046 Tk.269.108 1.3.465.637 294.911 Net Asset Value (NAV) per Share (Restated) Total 1.098.653.670) 17.787.689.869.517.646 5.089 273.3. 62.098.511.276.087 968.689.826.974.108) 20.613 Stock Dividend for 2010 Adjustment for Depreciation on Revalued Assets Adjustment for Deferred Tax on Revalued Assets 2.269.750 - 1.362 4.475 Closing Balance on September 30.254 4.891.637 294.065 5.493 1.885.489.313 15.281 15.

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