2008 2007 2006

Net income 545,341,273 353,067,878 470,658,563

Total Asset 14,819,665,441 11,953,418,940 11,912,512,487
ROA 0.0368 0.0295 0.0395

Net income 545,341,273 353,067,878 470,658,563

preferd dividend Avg.total asset
0 0 0
Avarage common equity 9350570896 8100430036 7385422738.5
ROCE 14000000000 0.0583 0.0436 0.0637

12000000000
Net income 545,341,273 353,067,878 470,658,563
preferd dividend 10000000000 0 0 0
Total asset 14,819,665,441 11,953,418,940 11,912,512,487
8000000000
Further disaggregation of ROA 0.0368 0.0295 0.0395
Avg.total asset
6000000000
Sales 4,010,167,059 3,597,024,812 3,702,317,159
EBIT 4000000000 714,121,010 399,677,667 523,243,669
Avg.total asset 2000000000
EBIT profit margin
Asset turnover
13386542190.5 11932965713.5 Interest Burden
11428996233.5
interest exp 249,654,298 254,742,392 253,318,784
Avg.total asset0.18 0.4
0 13386542190.5 0.03
11932965713.5 11428996233.5
Income before tax0.16 2008 2007 2006 2005 2004 2003
714,121,010 2002 2001 523,243,669
399,677,667
0.35 0.025
Income Tax Expense
0.14 168,779,737 46,609,789 52,585,106
Avarage common 0.12equity 0.3 9350570896 4,165,791,144 4303443668
0.02
EBIT profit margin 0.17807762108 0.11111340285 0.14132869944
0.1 0.25
Asset turnover 0.29956705787 0.3014359463 0.3239407104
EBIT profit
0.015 margin
Interest Burden 0.08 0.2 0.01864964787 0.02134778546 0.02216456973 Asset turnover
Leverage 0.06 0.15 1.43162832937 2.86451367844
0.01 2.655779212
Retained Rate 0.04 0.76365387009 0.88338155256 0.89950168704
0.1 0.005
Further disaggregation
0.02 of ROCE 0.0379 0.0307 0.0564
0.05
0 0
0
2008 2007 2006 2005 2004 2003 2002 2001 2008 2007 2006 2005 2004 2003 2002
2008 2007 2006 2005 2004 2003 2002 2001
 2005 2004 2003 2002 2001
489,261,764 294,302,934 207,140,366 341,680,048 401,779,808
10,945,479,980 8,560,380,432 8,012,857,866 6,762,691,200 6,360,267,868
0.0447 0.0344 0.0259 0.0505
Retained Rate
0.0632

489,261,764 294,302,934 207,140,366 1

341,680,048 401,779,808
0 0 0 0.9 0 0
5827836356.5 4715584319 Leverage
4518758584.5 0.8
4303443668 4,165,791,144
0.0840 0.0624 0.0458 0.7 0.0794 0.0964
3 0.6
489,261,764 294,302,934 207,140,366 341,680,048
0.5 401,779,808 Retaine
2.5
0 0 0 0 0
0.4
10,945,479,980 8,560,380,432 8,012,857,866 6,762,691,200
0.3 6,360,267,868
2
0.0447 0.0344 0.0259 0.2 0.0505 0.0632
Avg.total asset
1.5 0.1 Leverage
3,327,022,574 2,402,700,962 2,183,829,795 2,522,942,523
0 2,401,241,111
485,366,670 1 318,588,184 263,618,533 362,232,463
2008 2007 430,420,451
Interest Burden
9752930206 8286619149 7387774533
2006 2005 2004 2003 2002 2001
6561479534 6,360,267,868
0.5
221,949,324 172,054,306 156,601,506 170,994,495 179,520,085
9752930206 8286619149 7387774533 6561479534 6,360,267,868
0
485,366,670 318,588,184 263,618,533 362,232,463 430,420,451
2008 2007 2006 2005 2004 2003 2002 2001
3,895,094 24,285,250 38,975,206 20,552,415 28,640,643
4518758584.5 4715584319 4518758584.5 4342274864 4,165,791,144
0.1458861968 0.1325958532 0.12071386406 0.1435753925 0.17924915954
0.3411305632 0.2899494859 0.29560049312
Interest Burden0.3845081753 0.37753773282
Asset0.02275719392
turnover 0.0207629074 0.02119738567 0.0260603564 0.02822523968
2.15832070327 1.7572836341 1.63491242005 1.5110695981 1.52678510471
0.99197494546 0.9237722828 0.85215301232 0.9432618081 0.9334589169
0.0578 0.0287 0.0202 0.0415 0.0562

2007 2006 2005 2004 2003 2002 2001

01
d Rate

Retained Rate

003 2002 2001

Year 2008 2007
ROA 0.037 0.030

ROA
ROA

0.045
0.037 0.040
0.03
0.030

2008 2007 2006 2005 200

Year 2008 2007

ROCE 0.058 0.044

ROCE
ROCE

0.084

0.064 0.06
0.058
0.044

2008 2007 2006 2005 200

 0.064 0.06
0.058
0.044

2008 2007 2006 2005 200

Year 2008 2007

Disaggregation of ROA 0.0368 0.0295

Disaggregation of
Disaggregation of ROA

0.0447
0.0368 0.0395
0.0344
0.0295

2008 2007 2006 2005 2004

Year 2008 2007

Further disaggregation of ROCE 0.0533 0.0335

Further disaggregation
Further disaggregation of RO

0.0533
0.0498
0.0458
 Further disaggregation
Further disaggregation of RO

0.0533
0.0498
0.0458
0.0384
0.0335

2008 2007 2006 2005 2004

 2006 2005 2004 2003 2002 2001
0.040 0.045 0.034 0.026 0.051 0.063

ROA
ROA
0.063

0.051
0.045
0.040
0.034
0.026

2006 2005 2004 2003 2002 2001

2006 2005 2004 2003 2002 2001

0.064 0.084 0.062 0.046 0.079 0.096

ROCE
ROCE

0.096
0.084 0.079
0.064 0.062
0.046

2006 2005 2004 2003 2002 2001

 0.064 0.062
0.046

2006 2005 2004 2003 2002 2001

2006 2005 2004 2003 2002 2001

0.0395 0.0447 0.0344 0.0259 0.0505 0.0632

Disaggregation of ROA
Disaggregation of ROA

0.0632

0.0505
0.0447
0.0395
0.0344
0.0259

2006 2005 2004 2003 2002 2001

2006 2005 2004 2003 2002 2001

0.0458 0.0498 0.0384 0.0357 0.0552 0.0677

rther disaggregation of ROCE

Further disaggregation of ROCE

0.0677

0.0552
0.0498
0.0458
rther disaggregation of ROCE
Further disaggregation of ROCE

0.0677

0.0552
0.0498
0.0458
0.0384 0.0357

2006 2005 2004 2003 2002 2001

ASSETS 2008
Non-Current Assets 11957773787
Property, Plant and Equipment - Carrying Value 8992942392
Pre-Production Expenses
Investment in Shares. 36701090
Current Assets 2861891654
Inventories 1505288093
Spares & Supplies 234530326
Accounts Receivable 503916401
Loans, Advances and Deposits 544509106
Current Account with Related Parties
Cash and Cash Equivalents 73647728
TOTALASSETS 14819665441
EQUITYAND LIABILITIES
Shareholders’ Equity 10450202145
Issued Share Capital 1259577470
Share Premium 1489750000
Excess of Issue Price over Face Value of GDRs 1689636958
Capital Reserve on Merger 294950950
Revaluation Surplus 1711174747
Tax-Holiday Reserve
Retained Earnings 4005112020
Non-Current Liabilities 1767431029
Long Term Borrowing (Secured) 1446600500
Deferred Liability - Provision for Gratuity 274419253
Deferred Tax Liability 46411276
Current Liabilities and Provisions 2602032267
Customs Debentures
Short Term Borrowing from Banks 1461666227
Long Term Borrowing-Current Maturity 648165841
Creditors and Other Payables 263176822
Accrued Expenses 81776450
Dividend Payable 3169568
Provision for Income Tax 144077359
TOTAL LIABILITIES AND SHAREHOLDERS’EQUITY 14819665441

Revenue (Turnover) from Net Sales 4010167059

Cost of Goods Sold -2002871181
Gross Profit 2007295878
Operating Expenses : -1008501030
Administrative Expenses -153464243
Selling and Distribution Expenses -855036787
Profit from Operations 998794848
Other Income 686510
Finance Cost -249654298
Net Profit Before Contribution to WPPF 749827060
Contribution to Workers’ Profit Participation / Welfar -35706050
Net Profit Before Tax 714121010
Income Tax Expense -168779737
Current Tax 173720430
Deferred Tax Income/(Expense) 4940693
Net Profit After Tax 545341273
Transfer to Tax-Holiday Reserve
Surplus for the Year
Surplus brought forward
Appropriation of Dividend declared for 2001
Available Surplus Carried Forward
Earnings Per Share (Par value Tk. 10/-) 4.33
Number of Shares used to Compute EPS 125957747
 2007
9029643482
11921072697

36701090
2923775458
1470152242
182328049
499680792
685915465

85698910
13386542190.5 11953418940 11932965713.5

9350570896 8250939647 8100430036

1145070430
1489750000
1689636958
294950950

442354953
3189176356
2074506357
1776449778
246704610
51351969
1627972936

907582327
343604498
271814118
60052739
3285324
41633930
11953418940

3597024812
-1967509975
1629514837
-974736690
-145544701
-829191989
654778147
19625795
-254742392
 419661550
-19983883
399677667
-342500167 -46609789
-57661278
168779737 11051489
168779737 353067878

2.8
125957747
 2006 2005
8555119221 7449630817
8513136381 7412474567

41982840 37156250
3357393266 3495849163
1754440288 1683722059

430240095 779798943
591613938 603764931

581098945 428563230
11912512487 11428996233.5 10945479980

7949920425 7385422738.5 6820925052

1040973120 959215620
1489750000 1489750000
1689636958 969175305
294950950 294950950

394834828 394834828
3039774569 2693284178
1435171264 1622730360
1159409947 1387455909
213357859 190053550
62403458 45220901
2527420798 2501824568

1302816980 1062011192
712122930 1066030957
365255938 216660743
117936620 101859834
13012146 830440
16276184 54431402
11912512487 10945479980

3702317159 3327022574
-1971231333 -1768522363
1731085826 1558500211
-984562332 -834148493
-150285977 -119006535
-834276355 -715141958
746523494 724351718
56201142 7232609
-253318784 -221949324
549405852 509635003
-26162183 -24268333
523243669 485366670
-52585106 3895094
-35402549 -46169026
-17182557 50064120
470658563 489261764

4.67 6.36
100737415 76878446
 2004
6088867207
6043243087

45624120
2471513225
1394794907

600028183
468680833

8009302
9752930206 8560380432 8286619149

5827836356.5 4834747661 4715584319

559762500
1489750000

445355048
2339880113
2066372169
1864767749
158595611
43008809
1659260602
1758387
1121910904
256179379
170176125
81230153
1065437
26940217
8560380432

2402700962
-1430590446
972110516
-470837493
-88095645
-382741848
501273023
5298876
-172054306
334517593
-15929409
318588184
-24285250
-28469983
4184733
294302934

5.26
55976250
 2003 2002
5940092996 4780464825
5895916746 4649544673
…… 90376402
44176250 40543750
2072764870 1982226375
1143710812 1113539289

499677576 447307967
424464615 258562676
157898170
4911867 4918273
8012857866 7387774533 6762691200

4596420977 4518758584.5 4441096192

508875000 442500000
1489750000 1489750000

1090052509 998690522
1507743468 1510155670
2186575901 812591999
1996908089 757115841
142474270 55476158
47193542
1229860988 1509003009
1758387 1758387
939872641 1171975598
39313860
139591269 155928586
81568363 129682896
1206751 1750944
26549717 47906598
8012857866 6762691200

2183829795 2522942523
-1355748848 -1620493149
828080947 902449374
-397998572 -357339989
-84329332 -79926759
-313669240 -277413230
430082375 545109385
3318590 7266435
-156601506 -170994495
276799459 381381325
-13180926 -19148862
263618533 362232463
-38975206 -20552415
-38975206
-17502961
207140366 341680048
-125524431
216155617
1360375053
-66375000
1510155670
3.7 7.72
55976250 44250000
 2001
4576093546
4454495125
81054671
40543750
1784174322
1144320036

333884395
167044720
95903770
43021401
6561479534 6360267868

4303443668 4165791144
442500000
1489750000

873166091
1360375053
704155151
656646364
47508787

1490321573
1758387
1081904675

250693220
115690840
2880935
37393516
6360267868

2401241111
-1459108308
942132803
-322483320
-76595834
-245887486
619649483
11812076
-179520085
 451941474
-21521023
430420451
-28640643

401779808
-108489817
293289991
1067085062
-
1360375053
9.08
44250000
Year 2008
Actual More than expected
Sales BDT 4,010,167,059
COGS BDT 2,002,871,181 -19%
GP BDT 2,007,295,878 19%
Operating expense BDT 1,008,501,030 22%
Profit from operations BDT 998,794,848 16%
Net Profit Before Tax BDT 714,121,010 26%
Net Profit After Tax BDT 545,341,273 10%
 2007
Expected in 2008 Actual More than expected Expected in 2007
BDT 3,597,024,812
BDT 2,387,690,675 BDT 1,967,509,975 -13% BDT 2,233,077,988
BDT 1,622,476,384 BDT 1,629,514,837 16% BDT 1,363,946,824
BDT 785,839,368 BDT 974,736,690 33% BDT 655,550,511
BDT 836,637,017 BDT 654,778,147 -8% BDT 708,396,313
BDT 531,731,523 BDT 399,677,667 -9% BDT 434,210,764
BDT 491,198,842 BDT 353,067,878 3% BDT 341,184,573

Sales
BDT 4,500,000,000 BDT 2,500,000,000
BDT 4,000,000,000
BDT 3,500,000,000 BDT 2,000,000,000
BDT 3,000,000,000
BDT 2,500,000,000 BDT 1,500,000,000
BDT 2,000,000,000
BDT 1,500,000,000
BDT 1,000,000,000
BDT 1,000,000,000
BDT 500,000,000
BDT - BDT 500,000,000
2008 2007 2006 2005 2004 2003 2002 2001
Sales BDT -
200

BDT 2,500,000,000

BDT 2,000,000,000

BDT 1,500,000,000

BDT 1,000,000,000

BDT 500,000,000

BDT -
08
20
 2006 2005
Actual More than expected Expected in 2006 Actual
BDT 3,702,317,159 BDT 3,327,022,574
BDT 1,971,231,333 -17% BDT 2,298,444,794 BDT 1,768,522,363
BDT 1,731,085,826 19% BDT 1,403,872,365 BDT 1,558,500,211
BDT 984,562,332 31% BDT 674,739,829 BDT 834,148,493
BDT 746,523,494 2% BDT 729,132,536 BDT 724,351,718
BDT 523,243,669 15% BDT 446,921,010 BDT 485,366,670
BDT 470,658,563 25% BDT 351,171,750 BDT 489,261,764

COGS
BDT 2,500,000,000 BDT 2,500,000,000

BDT 2,000,000,000 BDT 2,000,000,000

BDT 1,500,000,000 BDT 1,500,000,000

COGS
BDT 1,000,000,000 BDT 1,000,000,000

BDT 500,000,000 BDT 500,000,000

BDT - BDT -
2008 2007 2006 2005 2004 2003 2002 2001
2008 2007 2

Expected COGS Expe

BDT 2,500,000,000
BDT 1,800,000,000

BDT 2,000,000,000 BDT 1,600,000,000

BDT 1,400,000,000
BDT 1,500,000,000 BDT 1,200,000,000
Expected COGS BDT 1,000,000,000
BDT 1,000,000,000
BDT 800,000,000
BDT 600,000,000
BDT 500,000,000
BDT 400,000,000
BDT - BDT 200,000,000
08 07 06 05 04 03 02 BDT -
20 20 20 20 20 20 20
2008 2007 200
 2004
More than expected Expected in 2005 Actual More than expected
BDT 2,402,700,962
-21% BDT 2,136,956,050 BDT 1,430,590,446 -8%
24% BDT 1,190,066,524 BDT 972,110,516 12%
44% BDT 471,226,831 BDT 470,837,493 28%
1% BDT 718,839,693 BDT 501,273,023 -4%
2% BDT 477,678,572 BDT 318,588,184 -8%
8% BDT 450,575,953 BDT 294,302,934 -11%

GP
DT 2,500,000,000

DT 2,000,000,000

DT 1,500,000,000
GP
DT 1,000,000,000

BDT 500,000,000

BDT -
2008 2007 2006 2005 2004 2003 2002 2001

Expected GP
DT 1,800,000,000
DT 1,600,000,000
DT 1,400,000,000
DT 1,200,000,000
DT 1,000,000,000
Expected GP
BDT 800,000,000
BDT 600,000,000
BDT 400,000,000
BDT 200,000,000
BDT -
2008 2007 2006 2005 2004 2003 2002
 2003
Expected in 2004 Actual More than expected Expected in 2003
BDT 2,183,829,795
BDT 1,543,261,653 BDT 1,355,748,848 2% BDT 1,326,998,852
BDT 859,439,309 BDT 828,080,947 -3% BDT 856,830,943
BDT 340,309,431 BDT 397,998,572 26% BDT 293,285,285
BDT 519,129,878 BDT 430,082,375 -31% BDT 563,545,659
BDT 344,968,734 BDT 263,618,533 -48% BDT 391,449,655
BDT 325,395,831 BDT 207,140,366 -76% BDT 365,402,171
 2002 2001
Actual More than expected Expected in 2002 Actual
BDT 2,522,942,523 BDT 2,401,241,111
BDT 1,620,493,149 5% BDT 1,533,059,874 BDT 1,459,108,308
BDT 902,449,374 -10% BDT 989,882,649 BDT 942,132,803
BDT 357,339,989 5% BDT 338,827,649 BDT 322,483,320
BDT 545,109,385 -19% BDT 651,054,999 BDT 619,649,483
BDT 362,232,463 -25% BDT 452,235,327 BDT 430,420,451
BDT 341,680,048 -24% BDT 422,143,098 BDT 401,779,808
Sales
Expected COGS
Expected GP
Expected Operating expense
Expected Profit from operation
Expected Net profit before tax
Expected Net profit after tax