Sanima Large Cap Fund

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(Sanima Large Cap Fund)
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Email: info@sanimabank.com Email: sanimacapital@sanimabank.com
Website: www.sanimabank.com Website: www.sanima.capital
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o; ljj/0f k'l:tsfdf pNn]v ul/Psf ljj/0fx? :ki6 tyf kof{Kt dfqfdf /flvPsf] 5 / nufgLstf{x?nfO{
nufgL ;DaGwL ;';"lrt lg0f{o lng cfjZos s'g} ljj/0f, ;"rgf tyf hfgsf/Lx? n'sfPsf 5}gf}+ .
$= of]hgf ;DaGwL ;+lIfKt hfgsf/L M
$=! s of]hgfsf] gfd ;flgdf Nffh{ Sofk km08 (Sanima Large Cap
Fund)
v of]hgfsf] cfsf/ ?= !,)),)),)),))).– -Ps ca{ _
u of]hgfsf] k|sf/ aGbd'vL (Close-end)
$=@ s lgisfzg ug{ nfluPsf] OsfO{ ;+Vof !),)),)),))) -bz s/f]8_
v k|lt OsfO{ d"No ?= !).– -cIf/]kL bz_
u Go"gtd laqmL x'g'kg]{ OsfO{ ;+Vof %,)),)),))) -kfFr s/f]8_
3 clwstd ;sfl/g] OsfO{ ;+Vof !@,%),)),))) -afx| s/f]8 krf; nfv OsfO{_
ª of]hgfsf] cjlw & jif{
r of]hgf kl/kSj x'g] ldlt of]hgfsf] OsfO{ afF8kmfF8 ePsf] ldltn] & jif{ .
5 OsfO{ laqmL s]Gb|x? cf:jf (ASBA) ;b:o a}+s tyf ljQLo ;+:yfx? /
ltgsf tf]lsPsf zfvf sfof{nox? .
h cfj]bsn] vl/b ug'{kg]{ Go"gtd OsfO{ ;+Vof !)) -Ps ;o_ OsfO{
em cfj]bsn] vl/b ug{ ;Sg] clwstd OsfO{ !,)),)),)))÷– -Ps s/f]8_ OsfO{
;+Vof
` OsfO{ laqmL tyf afF8kmfF8 ;DaGwL Joj:yf OsfO{ ljlqmsf nflu cfj]bg lng] sfo{ ;dfKt eP
kZrft\ lwtf]kq afF8kmFf8 lgb]{lzsf, @)&$
4
adf]lhd OsfO{sf] afF8kmfF8 ul/g] .
6 ;"lrs/0f tyf bf];|f] ahf/ sf/f]jf/sf] OsfO{ g]kfn :6s PS;r]~h lnld6]8df ;"lrs/0f
Joj:yf u/fO{ sf/f]jf/sf] Joj:yf ul/g] .
$=# of]hgfsf] d'gfkmf ljt/0fsf] nIo of]hgfsf] n]vf k/LIf0f kZrft\ cfPsf] v'b ljt/0f
of]Uo d'gfkmfsf] lx;fjn] OsfO{sf] c+lst d"Nosf]
cfwf/df x/]s cfly{s aif{df Ps jf ;f] eGbf a9L
k6s d'gfkmf ljt/0f ul/g] . ;l~rt d'gfkmf
(Retained Earning) k'gM nufgL ul/g] .
$=$ OsfO{ vl/b ug{ ;Sg] JolQm tyf ;+:yfx? lgodfjnL Pj+ lgb]{lzsfsf] cwLgdf /xL g]kfnL
gful/s, u}/cfjf;Lo g]kfnL, k|rlnt sfg"g
adf]lhd btf{ ePsf g]kfnL kmd{, ;+3 ;+:yf, a}+s
tyf ljQLo ;+:yf, aLdf sDkgL, s'g} klg ju{ jf
;d"xn] v8f u/]sf] sf]ifx? h:t} ;~rosf]if,
sNof0fsf/L sf]if, u'7L, cIfo sf]if cflbn] o;
ljj/0f k'l:tsf cg';f/ hf/L ul/g] OsfO{ vl/b ug{
cfj]bg lbg ;Sg] .
$=% of]hgf Joj:yfkssf] ;flgdf Soflk6n lnld6]8, j8f g+=@* z]o/
gfd tyf 7]ufgfM dfs]{6\; sdlz{on sDKn]S;,k'tnL;8s sf7df8f}F .
:yflkt P]gM sDkgL P]g, @)^# / lwtf]kq ;DaGwL P]g, @)^# .
btf{ ldltM sDkgL /lhi6«f/sf] sfof{nodf btf{ ldltM
@)&@÷)*÷@# -btf{ g+= !$@$@*÷)&@÷)&#_ .
af]8{af6 of]hgf Joj:yfkssf] cg'dlt k|fKt
ldltM @)&$÷)@÷!$ .
$=^ of]hgf Joj:yfkssf] n]vfk/LIfssf] gfd P;=cf/=kf08] P08 sDkgL, gljn uNnL
tyf 7]ufgf dxf/fhu~h, sf7df08f} .
$=& of]hgfsf] n]vf k/LIfssf] gfd tyf 7]ufgf P; P cf/ Pzf]l;P6\; rf6{8{ PsfpG6]G;, ljzfn
j:tL æsÆ ljzfn gu/, sf7df08f} .
$=* sf]if ;'kl/j]Ifssf] gfd tyf 7]ufgf != al/i7 l;=P lty{ /fh pkfWofo—n]vfk/LIf0f,
ljQ tyf Aoa:yfkgsf] If]qdf ## aif{ eGbf
al9sf] sfo{ cg'ej . 7]ufgfM nfnsf]nf]lg dfu{,
nfnb/af/, sf7df08f}+ .
@= 8f= x]dGt s'df/ bjfl8– g]kfn pBf]u afl0fHo
dxf;+3df gfoa k|aGws kbdf nfdf] ;do sfo{
u/]sf] cg'ej, ;/sf/sf] cy{, afl0fHo tyf pBf]u
dGqfno;Fu ;DalGwt cfly{s lglt lgwf{/0fdf
;Nnfxsf/sf] e'ldsf . 7]ufgf M /fdsf]6, km:s',
gfufh{'g gu/kflnsf, sf7df08f} .
#= >L Vofd gf/fo0f 9sfn – g]kfn /fi6« a}+sdf
@& aif{ eGbf al9sf] sfo{cg'ej xfl;n ul/
sfo{sf/L lgb]{zs kbaf6 ;]jf lgj[t . 7]ufgfM
;fgf]e¥ofË, sf7df08f}+ .
$= >L nlnt axfb'/ a:g]t– k|]l;8]G6 n kmd{sf]
;+:yfks, g]kfn a}s lnld6]8, g]kfn OGe]i6d]G6
a}+s lnld6]8, Unf]an cfOPdO{ a}+s, /]l8of] g]kfn,
cflb ;+:yfdf sfg'gL ;Nnfxsf/, k'j{ /fi6«klt
/fda/0f ofbjsf] dlGq:tl/o sfg'gL ;Nnfxsf/
tyf lglh ;lrj . 7]ufgf M wfkfl;, sf7df08f}+ .
%= >L dfwa k|;fb 9sfn – cy{dGqfno cGtu{t
a}b]lzs ;xfotf ;dGjo dxfzfvfdf !% aif{eGbf
5
al9sf] cg'ej, pRr:tl/o s/ k|0ffnL
k'g/fjnf]sg cfof]udf ;b:o, nf]s ;]jf cfof]u,
ko{6g tyf gful/s p•og dGqfnodf
;x;lrjsf] ¿kdf sfo{cg'ej .
7]ufgfM >L/fd dfu{, aQL;k'tnL, sf7df08f},
g]kfn .
$=( /]l6Ë sDkgL tyf of]hgfsf] /]l6Ë ;+s]t /]l6Ë sDkgLM >L Oqmf g]kfn lnld6]8 .
ICRA NP issuer Rating A@. "[ICRANP-IR] A@"
o;n]
Adequate Degree of Safety Regarding Timely
Servicing of Financial Obligations nfO{ ;+s]t ub{5 . of]
;g\ 2020 November 30 df k|fKt ePsf] xf] / o;sf] a}wtf
Ps aif{ /xg]5 .
of]hgf Joj:yfkssf] /]l6Ë M Oqmf g]kfnaf6

of]hgf Aoj:yfkssf] nfuL /]l6Ë "ICRA NP Asset
Management Company Quality Three" [ICRANP]
AMC Quality 3 (AMC3) k|fKt . pQm /]l6Ën]
Adequate Assurance on the Management Quality nfO{
hgfpF5 . of] ;g\ @)@) l8;]Dj/ @@ df k|fKt
ePsf] / o;sf] a}wtf Ps aif{ /xg]5 .
$=!) nufgLsf If]qx? lgodfjnLsf] lgod #$ Pj+ lgb]{lzsfsf] cwLgdf
/xL of]hgfsf] OsfO{ laqmLaf6 p7]sf] jf ;+sng
ePsf] /sd b]xfo adf]lhd s'g} jf ;a} If]qdf
nufgL x'g]5 M
!= af]8{df btf{ ePsf] lwtf]kq .
@= ;fj{hlgs lgisfzg ePsf] lwtf]kq .
#= lwtf]kq ljlgod ahf/df ;"rLs[t lwtf]kq .
$= g]kfn ;/sf/n] hf/L u/]sf] jf g]kfn ;/sf/sf]
hdfgt jf k"0f{ ;'/lIft x'g] u/L ;/sf/L :jfldTj
jf lgoGq0fdf /x]sf] s'g} ;+:yf jf g]kfn /fi6«
a}+sn] hf/L u/]sf] C0fkq, 6«]h/L ljn tyf d'b|f
ahf/sf cGo ;fwgx? .
%= a}+s lgIf]k .
^= d'b|f ahf/ pks/0f .
&= af]8{n] tf]lslbPsf] cGo If]q .
$=!! of]hgfsf] btf{ tyf x:tfGt/0f ug{ lgo'Qm of]hgf Joj:yfks sDkgL ;flgdf Soflk6n
l8kf]lh6/Lsf] gfd / 7]ufgf lnld6]8, k'tnL;8s, sf7df8f}+}n] g} l8kf]lh6/Lsf]
sfo{ ug]{] .
$=!@ v'b ;DklQ d"No u0fgf tyf ;f]sf] k|sfzg lgb]{lzsfn] Joj:yf u/] adf]lhd v'b ;DklQ d"No
;DaGwL Joj:yf u0fgf ul/g] / ;f] ljj/0f lgodfjnLn] Joj:yf u/]
adf]lhd ;fj{hlgs ul/g] 5 . ;f] ;DaGwL lj:t[t
ljj/0f o; ljj/0f k'l:tsfsf] a'Fbf *=(-s_ / -v_
df pNn]v ul/Psf] 5 .
%= sf]if k|j4{s ;DaGwL hfgsf/L M

%=! sf]if k|j4{ssf] gfd M >L ;flgdf a}+s lnld6]8 .
%=@ of]hgf Joj:yfks sDkgLdf z]o/ :jfldTjsf] k|ltzt M
of]hgf Joj:yfks sDkgLdf sf]if k|a4{s >L ;flgdf a}+s lnld6]8sf]] zt\k|ltzt z]o/ :jfldTj /x]sf] .
%=# sf]if k|j4{s :yflkt ePsf] P]g÷lgod;DaGwL ljj/0f M
6
k|rlnt sDkgL P]g cGtu{t ;+:yflkt / ;~rflnt Pj+ a}+s tyf ljQLo ;+:yf ;DaGwL P]g, @)&# cg';f/
sf/f]af/ ug{ Ohfht k|fKt .
%=$ sf]if k|j4{ssf] ;+lIfKt Oltxf; M

s= u}x| cfjf;Lo g]kfnLx? ;d]tsf] nufgLdf lghL If]qaf6 a}+s :yfkgf u/L b]zsf ljleGg 7fpFdf a}+lsË ;]jf
pknAw u/fpg] clek|fon] o; a}+ssf] :yfkgf ePsf] xf] . ;f] d'tfljs o;n] cfˆgf] sfo{If]qnfO{ lj:tf/ ub}{
:jb]zsf ljleGg 7fpFdf a}+lsË ;]jf k'¥ofpb} cfPsf] 5 . o; a}+ssf] ;+:yfks tyf ;+rfnsx? a}+lsË tyf
ljQLo If]q tyf Joj:yfkgdf nfdf] ;dob]lv cfj4 /x]sf JolQmTjx? x'g'x'G5 .
v= ;flgdf a}+s lnld6]8, sDkgL /lhi6«f/sf] sfof{nodf ldlt @)^! cfiff9 !^ ut] btf{ eO{ g]kfn /fi6« a}+s
åf/f ldlt @)^! dfu{ !! ut] /fli6«o :t/sf] ævÆ ju{sf] ljsf; a}+ssf] :jLs[lt k|fKt ul/ ldlt @)^! dfu{ @!
ut] b]lv a}lsË sf/f]jf/ ub}{ cfPsf] o; a}+sn] g]kfn /fi6« a}+saf6 ldlt @)^* kmfNu'0f ! ut] æsÆ ju{sf]
afl0fHo a}+ssf] ?kdf a}+lsË sf/f]jf/ ug{ Ohfhtkq k|fKt ul/ ldlt @)^* kmfNu'0f # ut]b]lv cfˆgf] ;]jf
;+rfng ub}{ cfPsf] 5 . o; a}+sdf %!=)!% z]o/ :jfldTj ;+:yfks z]o/wgLx?sf] / $*=((Ü z]o/ :jfldTj
;j{;fwf/0f z]o/wgLx?sf] /x]sf] 5 . a}+lsË If]qdf o; a}+sn] Ps cu|0fL a}+ssf] e"ldsf lgjf{x ul//x]sf] 5 .
%=% sf]if k|j4{ssf k|d'v p2]Zox? M

sDkgLsf] k|aGwkq cg';f/ sDkgLsf d'Vo p2]Zox? b]xfo adf]lhd /x]sf 5g\ M
g]kfn /fi6« a}+s P]g, @)%*, a}+s tyf ljQLo ;+:yf ;DjGwL P]g, @)&#, / sDkgL P]g, @)^# tyf cGo k|rnLt
sfg"gsf] clwgdf /xL ljQLo sf/f]jf/ -a+}lsË Joj;fo_ ug]{ o; a}+ssf] d'Vo p2]Zox? b]xfo jdf]lhd /x]sf] 5 .
-!_ hn>f]t, l;+rfO{, s[lif, pBf]u, ;]jf Jofkf/ tyf cGo Jofj;flos ?kn] ;DefJo b]lvPsf pTkfbgzLn
Joj;fosf] nflu l:y/ rfn" k"FhLsf] lgldQ C0f pknAw u/fpg] .
-@_ s'g} a}+s jf ljQLo ;+:yfaf6 cfˆgf] u|fxsnfO{ C0f pknAw u/fpg hdfgL a:g] .
-#_ Aofh jf ljgf Jofhdf lgIf]k :jLsf/ ug]{ tyf To:tf] lgIf]ksf] e'QmfgL lbg] .
-$_ /fi6« a}+sn] tf]lslbP adf]lhd shf{ lbg] .
-%_ k|rlnt sfg"gsf] cwLgdf /xL ljb]zL ljlgdo sf/f]af/ ug]{ .
-^_ xfo/kr]{h, xfOkf]lys]zg, lnlhË, xfplhË tyf ;]jf Joj;fosf] nflu shf{ lbg] .
-&_ /fi6« a}+sn] lbPsf] lgb]{zgsf] cwLgdf /xL dr]{06 a}+lsË sf/f]jf/ ug]{ .
-*_ cGo Ohfhtkq k|fKt ;+:yfx?;+u ldnL ;xlaQLos/0fsf] cfwf/df lwtf] ljefhg -kf/Lkf;'_ ug]{ u/L
cfk;df ePsf] ;Demf}tf cg';f/ ;+o'Qm ?kdf shf{ lbg], lbnfpg] Joj:yf ug]{ .
-(_ :jb]zL a}+s jf ljQLo ;+:yfsf] hdfgtdf shf{ lbg] .
-!)_ cfˆgf] u|fxssf] tkm{af6 hdfgtkq hf/L ug]{ / ;f] jfkt u|fxs;+u cfjZos zt{ u/fpg], ;'/If0f lng],
lghsf] rn crn ;DklQ lwtf]aGws lng] jf t];|f] JolQmsf] h]yf hdfgt lng] .
-!!_ ljlgdo–kq, k|lt1fkq, r]s, ofq' r]s, 8«fˆ6 jf cGo ljQLo pks/0f lgisf;g ug{], :jLsf/ ug{], e'QmfgL
lbg], l8:sfpG6 ug{] jf v/Lb laqmL ug{] .
-!@_c6f]d]6]8 6]n/ d]lzg / Sof; l8:k]lG;Ë d]lzgsf] dfWodaf6 lgIf]k lng], e'QmfgL lbg] / shf{ lbg] .
!#_ cfk"mn] kTofPsf] JolQmnfO{ clwljsif{ shf{ lbg] .
-!$_ cfˆgf] rn crn hfoh]yf lwtf] /fvL shf{ lng] .
-!%_ cfk"msxfF klxn] g} lwtf] /lx;s]sf] rn crn ;DklQsf] d"Non] vfd];Ddsf] /sd k'gM Ps}k6s jf
k6sk6s u/L shf{ lbg] jf cGo Ohfht–kq k|fKt ;+:yfdf lwtf] /lx;s]sf] rn crn ;DklQsf] k'gM lwtf]df
To;sf] d'Non] vfd];Ddsf] /sd k'gM Ps}k6s jf k6s k6s u/L shf{ lbg] .
-!^_ k|lttkq lgisf;g tyf :jLsf/ ug]{ .
-!&_ g]kfn /fHoleq jf ljb]zdf ljlgdokq, r]s jf cGo ljQLo pks/0fåf/f /sd k7fpg] jf rnfg ug{], ;'g
rfFbL, z]o/, l8a]~r/, a08 cflb vl/b, laqmL ug{] / z]o/sf] nfef+z tyf k|lt1fkq, l8a]~r/, a08 cflbsf]
Jofh c;'npk/ ug]{ .
-!*_ u|fxssf] lgldQ sldzg Ph]06 eO{ z]o/, l8a]~r/ jf ;'/If0fsf] lhDdf lng], vl/b ljqmL ul/lbg], z]o/sf]
nfef+z, l8a]~r/ jf ;'/If0fsf] Aofh cflb p7fO{ lbg] / ;f]sf] nfef+z, d'gfkmf jf Jofh g]kfn/fHoleq jf
ljb]zdf ;d]t k7fpg] .
7
-!(_ cfˆgf] u|fxssf] tkm{af6 hdfgtkq hf/L ug]{ / ;f] jfkt u|fxs;+u cfjZos zt{ u/fpg], ;'/If0f lng],
lghsf] rn crn ;DklQ lwtf]aGws lng] jf t];|f] JolQmsf] h]yf hdfgt lng] .
-@)_ g]kfn ;/sf/ jf /fi6« a}+sn] hf/L u/]sf] C0f kqsf] vl/b ljqmL ug]{ jf ;sf/ ug]{ .
-@!_ ;]km l8kf]lh6 eN6sf] Joj:yf ug]{ .
-@@_ /fi6« a}+sn] tf]lslbPsf] zt{df jf;nft aflx/sf] sf/f]jf/ ug]{ .
-@#_ ljkGg ju{, Go"g cfo ePsf kl/jf/, b}lj k|sf]k kLl8t tyf b]zsf] s'g} If]qsf jfl;Gbfsf] cfly{s
pTyfgsf] nflu JolQmut jf ;fd'lxs hdfgLdf /fi6« a}+sn] tf]s] jdf]lhdsf] /sd ;Dd shf{ lbg] .
-@$_ cfk"m tyf cGo s'g} Ohfhtkqk|fKt ;+:yfaf6 shf{ jf s'g} k|sf/sf] ;'ljwf lng] C0fL jf u|fxssf] ljj/0f
;"rgf jf hfgsf/L /fi6« a}+s jf s'g} cGo Ohfhtkq k|fKt ;+:yf aLr lng]lbg] .
-@%_ cGo s'g} Ohfhtkq k|fKt ;+:yfaf6 cfˆgf] u|fxsnfO{ shf{ pknAw u/fpg hdfgL a:g] .
-@^_ /fi6« a}+sn] tf]lslbPsf] ;Ldfleq /xL z]o/, l8a]~r/, a08, C0fkq, artkq jf cGo laQLo pks/0fsf]
dfWodaf6 k"F+hL kl/rfng ug]{ .
-@&_ cfjZostfg';f/ /fi6« a}+saf6 k'gs{hf{ lng] jf cGo Ohfhtkq k|fKt ;:yfaf6 shf{ lng] lbg] .
-@*_ kl/of]hgfsf] k|j4{gsf nflu g]kfn ;/sf/ jf cGo :jb]zL jf ljb]zL lgsfoaf6 k|fKt ePsf] /sd shf{sf]
?kdf k|jfx ug]{ jf shf{sf] Joj:yfkg ug]{ .
-@(_ kl/of]hgf :yfkgf, ;+rfng / d"NofÍg ;DjGwL cWoog, cg';Gwfg, ;e]{If0f ug]{ u/fpg] tyf tfnLd,
k/fdz{ / cGo hfgsf/L pknAw u/fpg] .
-#)_ ;ldltn] agfPsf] ljlgodsf] cwLgdf /xL shf{ ckn]vg ug]{ .
-#!_ s'g} JolQm jf ;+:yfnfO{ shf{ lbbf jf lgh;Fu s'g} sf/f]af/ ubf{ cfˆgf]] lxtsf] ;F/If0fsf nflu
cfjZostf cg';f/ zt{ u/fpg] .
-#@_ s'g} klg JolQm, kmd{, sDkgL jf ;+:yfnfO{ ;jf/L ;fwg, d]lzg, cf}hf/, pks/0f, 3/fo;L l6sfp ;fdfg
jf To:t} cGo rn ;DklQsf] nflu ls:tfaGbL jf xfo/kr]{h shf{ pknAw u/fpg] .
-##_ /fi6« a}+sn] tf]s]sf cGo sfd ug]{ .
-#$_ kl/of]hgfx?sf] k|a4{gsf nflu g]kfn ;/sf/ jf cGo :jb]zL jf lab]zL lgsfox?af6 k|fKt ePsf] /sd
;Demf}tf cg';f/ C0fsf] ?kdf lat/0f ug]{ .
-#%_ kl/of]hgf :yfkgf, ;+rfng / d"NofÍg ;DaGwL cWoog, cg';Gwfg ;a]{If0f ug]{ u/fpg] tyf tflnd,
k/fdz{ / cGo hfgsf/L pknAw u/fpg] .
-#^_ s'g} JolQm;Fu s'g} sf/f]af/ ubf{ jf C0f n]gb]g ubf{ a}+ssf] lxt ;+/If0f x'g] u/L cfjZostfg';f/ zt{
/fVg] / ;Demf}tf ug]{ .
-#&_ cfˆgf] hfo h]yfsf] plrt k|aGw jf laqmL ug{] .
-#*_ a}+saf6 lnPsf] shf{ h'g sfdsf] lgldQ lnOPsf] xf] ;f] sfddf nufPsf] 5÷5}g hfFra'em ug]{ .
-#(_ a}+saf6 C0f jf s'g} k|sf/sf] ;'lawf lng] C0fL jf u|fxssf] ljj/0f, ;"rgf jf hfgsf/L g]kfn /fi6« a}+s,
cGo a}+s tyf ljQLo ;+:yfx?;+u lng] lbg] .
-$)_ u|fld0f If]qdf lasf;sf] k"jf{wf/ tof/ ug{ ;xof]u k'¥ofpg] x]t'n] hgzlQm ljsf;, k|ljlw lasf;, tflnd
cg';Gwfg cflb ;+rfng ug]{ tyf To:tf] ;+rfng u/fpg cfjZos sfo{x? ug]{ .
-$!_ k|rlnt sfg"gsf] kl/lwleq /xL ;–;fgf phf{ tyf jftfj/0fLo k|lalw lasf; ;DaGwL sfo{x? ug]{ .
-$@_ a}+ssf] tkm{af6 d'2f dfldnf ug'{ kg]{ eP d'2f dfldnf ug]{ / a}+s pk/ nfu]sf] d'2f dfldnfsf] k|lt/Iff
ug]{, ldnfkq ug]{ tyf a}+ssf] tkm{af6 d'2f dfldnf Pj+ ;DalGwt ;Dk"0f{ sfo{ ug]{ .
-$#_ k|rlnt sfg"g / ;DalGwt lgsfosf] :jLs[lt lnO{ a}+sn] cfˆgf]] cfo;|f]t clej[l4sf] nflu u}/ ljQLo ;]jf
cGt/ut cfˆgf u|fxsx?sf nflu dfq jLdf sDkgLx?sf] clestf{ eO{ sfo{ ug{ ;Sg]5 .
-$$_ k|rlnt sfg"g tyf gLltut Joj:yf adf]lhd ;DaGwLt lgsfosf] :jLs[lt lnO{ /]ld6\ofG; -lak|]if0f_
;DaGwL sfo{ ug{] .
-$%_ /fi6« a}+sn] lbPsf] lgb{]zgsf] clwgdf /xL 6]lnkmf]g, 6]n]S;, ôfS;, sDKo'6/, DofUg]l6s 6]k jf cGo To:t}
k|sf/sf ljB'lto pks/0f jf ;fwgsf] dfWodaf6 lgIf]k lng], e'QmfgL lbg], /sdfGt/ ug{] .
-$^_ /fi6« a}+sn] lbPsf] lgb{]zgsf] clwgdf /xL qm]l86 sf8{, 8]la6 sf8{, rfh{ sf8{ nufotsf cGo ljQLo
pks/0fx? hf/L ug{], :jLsf/ ug{] / ;f] ;DaGwL sfo{ ug{ Ph]G6 lgo'Qm ug{] .
-$&_ /fi6« a}+sn] tf]s]sf] zt{df /fi6« a}+ssf] Ph]G6 eO{ g]kfn ;/sf/sf] tkm{af6 ;/sf/L sf/f]af/ nufot cGo
sf/f]af/ ug{] .
-$*_ ljleGg ;fdflhs sfo{df ;xof]u ug{] .
8
%=^ sf]if k|j4{ssf] ljut tLg jif{sf] ljQLo ljj/0f
;flgdf a}+s ln= sf] ljut tLg jif{sf] jf:tljs jf;nft, gfkmf gf]S;fg lx;fa, gfkmf gf]S;fg afF8kmfF8 lx;fa tyf gub
k|jfx ljj/0f tyf ljut tLg jif{sf] k|lt z]o/ cfDbfgL -clg{Ë k/ z]o/_ / k|lt z]o/ g]6jy{ ;DaGwL ljj/0f b]xfo adf]lhd
/x]sf] 5 M
s=jf;nft - /sd ?=_

;DkQL cf=j @)&#÷&$ cf=j @)&$÷&% cf=j @)&%÷&^ cf=j @)&^÷&&
gub tyf gub ;dfg 2,948,780,102 4,530,152,334 4,636,422,437 5,190,299,845
g]kfn /fi6« a}+sdf /x]sf] df}Hbft tyf lng' kg{] 5,265,301,643 5,608,171,848 2,781,194,462 5,325,683,135
a}+s tyf ljQLo ;+:yfdf /x]sf] df}Hbft 982,243,177 649,156,510 827,701,829 2,827,086,670
8]l/e]l6e ljQLo pks/0f 17,734,529 - 85,066,888 40,221,461
cGo Aofkfl/s ;DklQx? 406,239,582 478,048,147 484,421,811 443,453,005
a}+s tyf ljQLo ;+:yf nfO{ lbOPsf] shf{ tyf ;fk6 603,938,195 1,645,223,405 2,020,420,376 2,844,211,678
u|fxsnfO{ lbPsf] shf{ tyf ;fk6 51,038,471,540 67,598,133,761 81,418,860,580 90,850,351,390
lwtf]kqdf nufgL 6,429,154,180 9,413,443,775 13,611,190,018 15,018,419,486
o; aif{sf] cfos/ ;DkQL 17,139,730 - - 4,201,081
;xfos sDkgLdf nufgL 110,000,000 250,000,000 250,000,000 250,000,000
;Da4 sDkgLdf nufgL - - - -
;DkQLdf nufgL - - - -
;DkQL tyf pks/0f 713,080,633 881,846,292 1,150,520,679 1,177,211,496
VoftL / cd't{ ;DkQL 3,315,403 56,550,539 70,319,347 60,545,750
:yug s/ ;DkQL - 50,151,213 14,774,571 25,565,110
cGo ;DkQL 946,304,967 661,074,779 1,713,594,966 2,253,731,045
s'n ;DkQL 69,481,703,681 91,821,952,603 109,064,487,965 126,310,981,152
bfloTj
a}+s tyf ljQLo ;+:yfx?nfO{ ltg{ afFsL 2,103,519,307 1,346,959,039 3,694,458,442 3,275,974,837
g]kfn /fi6« a}+snfO{ ltg{ afFsL 611,009,105 358,950,008 1,018,919,629 86,292,488
8]l/e]l6e ljQLo pks/0f - 18,851,134 - -
u|fxssf] lgIf]k 56,161,055,860 77,849,380,056 89,373,729,162 107,250,202,687
;fk6L - - - -
o; jif{sf] cfos/ bfloTj - 66,294,857 24,771,881 -
Aoj:yf 43,355,931 11,817,943 27,174,446 32,428,917
:yug s/ bfloTj 30,923,343 - - -
cGo bfloTj 1,013,927,072 1,011,814,065 1,211,174,346 1,122,765,289
hf/L ul/Psf] C0fkq 370,000,000 370,000,000 1,724,712,000 1,724,712,000
;'/If0f g/flvPsf] ;xfos cfjlws bfloTj - - - -
s'n bfloTj 60,333,790,619 81,034,067,102 97,074,939,906 113,492,376,218
OlSj6L
z]o/ k"FhL 6,897,634,000 8,001,255,440 8,001,255,440 8,801,380,984
9
z]o/ lk|ldod - - - -
;+lrt d'gfkmf 1,280,242,935 1,136,681,538 1,751,506,637 1,197,037,733
hu]8f sf]ifx? 970,036,128 1,649,948,523 2,236,785,982 2,820,186,217
z]o/wgLx?nfO{ afF8kmfF8 of]Uo s'n OlSj6L 9,147,913,063 10,787,885,501 11,989,548,059 12,818,604,934
u}x| lgoGqLt :jfy{ - -
s'n OlSj6L 9,147,913,063 10,787,885,501 11,989,548,059 12,818,604,934
s'n OlSj6L tyf bfloTj 69,481,703,681 91,821,952,603 109,064,487,965 126,310,981,152
-v_= gfkmf–gf]S;fg lx;fj - /sd ?=_

cf=j
ljj/0f @)&#÷&$ @)&$÷&% @)&%÷&^ @)&^÷&&
Aofh cfDbfgL 5,126,693,380 8,107,978,846 10,757,980,831 11,495,493,751
Aofh vr{ 2,818,180,505 5,092,454,648 6,549,283,717 7,280,030,928
v'b Aofh cfDbfgL 2,308,512,875 3,015,524,197 4,208,697,114 4,189,694,300
z'Ns tyf sldzg cfDbfgL 455,743,812 706,389,342 785,119,601 698,255,710
z'Ns tyf sldzg vr{ 32,044,769 50,152,348 73,254,193 78,530,474
v'b z'Ns tyf sldzg cfDbfgL 423,699,044 656,236,994 711,865,408 619,725,237
v'b Aofh, z'Ns tyf sldzg cfDbfgL 2,732,211,918 3,671,761,191 4,920,562,522 4,809,419,537
v'b Aofkfl/s cfDbfgL 236,999,326 298,410,710 392,824,856 420,657,825
cGo ;~rfng cfDbfgL 10,932,182 38,961,666 44,231,715 59,729,789
hDdf ;~rfng cfDbfgL 2,980,143,427 4,009,133,567 5,357,619,093 5,289,807,151
shf{ hf]lvd Aoj:yf÷lkmtf{ tyf cGo gf]S;fgL 134,882,142 239,217,543 218,238,049 797,024,603
v'b ;~rfng cfDbfgL 2,845,261,285 3,769,916,024 5,139,381,043 4,492,782,548
;~rfng vr{
sd{rf/L vr{ 558,087,735 865,555,664 1,259,767,735 1,234,689,274
cGo ;~rfng vr{ 289,913,667 383,730,300 515,552,094 572,705,791
x|f; sl§ tyf kl/iff]wg 81,845,041 105,455,444 139,165,799 155,534,569
;~rfng d'gfkmf 1,915,414,843 2,415,174,616 3,224,895,415 2,529,852,914
u}/ ;~rfng cfDbfgL] 41,207,401 895,458 2,087,168 1,409,962
u}/ ;~rfng vr{ 280,973 734,365 6,826,064 1,520,491
cfo s/ cl3sf] d'gfkmf 1,956,341,270 2,415,335,708 3,220,156,519 2,529,742,385
cfos/ vr{
rfn' vr{ 562,158,566 774,250,990 957,816,576 751,726,953
:yug s/ 17,119,971 -56,418,506 4,272,437 1,750,908
o; calwsf] d'gfkmf 1,377,062,733 1,697,503,224 2,258,067,506 1,776,264,524
gfkmf afF8kmfF8
a}+ssf] z]o/wgL 1,377,062,733 1,697,503,224 2,258,067,506 1,776,264,524
u}x| lgolGqt :jfy{ - -
10
cfwf/e't k|lt z]o/ cfDbfgL 21.12 21.22 28.22 20.18
8fOn'6]8 k|lt z]o/ cfDbfgL 21.12 21.22 28.22 20.18
u_ gub k|jfx ljj/0f - /sd ?=_

cf=j
ljj/0f @)&#÷&$ @)&$÷&% @)&%÷&^ @)&^÷&&
sf/f]jf/ ;~rfngaf6 gub k|afx
Aofh cfDbfgL 4,797,928,723 8,002,273,251 10,481,920,342 10,880,956,054
z'Ns tyf cfDbfgL 342,010,425 701,473,377 789,276,131 695,298,092
nfef+z k|fKtL - - - -
sf/f]jf/ ;~rfngaf6 k|flKt 301,979,944 312,307,411 415,482,631 423,536,083
Aofh vr{ (2,834,569,936) (5,092,440,963) (6,350,195,161) (7,285,999,579)
sldzg tyf z'Ns vr{ - (50,152,348) (73,254,193) (78,530,474)
sd{rf/L vr{ (339,098,895) (728,799,274) (1,288,926,416) (1,184,176,256)
cGo vr{ (340,193,986) (383,765,844) (506,799,351) (560,732,861)
;~rfng ;DklQ / bfloTjsf] kl/jt{g

cl3sf] ;~rfng gub k|jfx 1,928,056,274 2,760,895,608 3,467,503,983 2,890,351,060
;~rfng ;DalGw rfn' ;DklQdf

yk÷-36_
g]kfn /fi6« a}+sdf /x]sf] df}Hbft (2,690,513,662) (342,870,204) 2,826,977,386 (2,544,488,673)
a}+s tyf ljQLo ;+:yfx?df /x]sf]
df}Hbft 1,812,420,202 333,086,667 (178,545,318) (1,999,384,842)
cGo Aofkfl/s ;DklQ (71,808,565) (4,706,575) 47,169,477
a}+s tyf ljQLo ;+:yfx?nfO{ lbOPsf]

shf{ tyf ;fk6L (1,051,307,909) (375,196,972) (823,791,302)
u|fxsnfO{ lbOPsf] shf{ tyf ;fk6L (10,518,959,375) (16,788,980,230) (14,038,964,869) (10,228,515,413)
cGo ;DklQ (1,206,978,904) 367,753,361 (826,149,945) 78,486,903
;~rfng ;DalGw rfn' bfloTjdf

yk÷-36_
a}+s tyf ljQLo ;+:yfx?nfO{ lbg' kg{]
afFsL /sd (221,460,000) (756,560,268) 2,347,499,402 (418,483,605)
g]kfn /fi6« a}+snfO{ lbg' kg]{ afFsL
/sd (2,449,470,473) (252,059,097) 659,969,622 (932,627,141)
u|fxssf] lgIf]k 11,358,662,524 21,688,324,196 11,524,349,106 17,876,473,526
C0f ;fk6L - - - -
cGo bfloTj 1,185,088,209 (24,059,093) 111,235,705 (134,033,674)
cfos/ cufl8sf] sf/f]af/

;~rfngaf6 v'b gub k|jfx (1,357,697,813) 5,862,414,465 5,513,971,524 3,811,156,316
cfos/ e'QmfgL (780,552,184) (916,293,600)

11
(782,450,823)
sf/f]af/ ;~rfngaf6 v'b gub k|jfx 5,081,862,281 4,597,677,924 3,028,705,493
nufgL sf/f]af/df gub k|jfx

lwtf]kq nufgL vl/b 899,415,189 (3,095,055,409) (4,197,746,243) (1,407,229,468)
lwtf]kq nufgL ljlqmaf6 k|fKt - - -
;DklQ tyf pks/0f vl/b (140,692,611) (274,221,103) (415,830,648) (187,834,785)
;DklQ tyf pks/0f ljlqmaf6 k|fKt - 16,189,423 5,609,399
cd"t{ ;DklQ vl/b (53,235,136) (21,967,769) -
cd"t{ ;DklQ ljqmLaf6 k|fKt - - 9,773,597
;DklQdf ul/Psf] nufgL - - -

;DklQdf ul/Psf] nufgL ljqmLaf6
k|fKt - - -
Jofh cfDbfgL 245,361,436 - - -
nfef+z cfDbfgL 6,332,956 4,208,435 21,994,020 52,060,821
nufgL sf/f]af/df v'b gub k|jfx 1,010,416,970 (3,418,303,213) (4,597,361,217) (1,527,620,436)
ljQLo sf/f]jf/df gub k|jfx

C0fkq lgisfzgaf6 k|fKt - 1,354,712,000 -
C0fkqdf vr{ - - -
c;'/lIft bfloTjsf] lgisfzgaf6 k|fKt - - -
c;'/lIft bfloTjdf ePsf] vr{ - - -
z]o/ lgisfzgaf6 k|fKt 2,160,162,000 1,103,621,440 - -
nfef+z vr{ - - (884,349,285)
Aofh vr{ - (192,353,655) -
cGo cfDbfgL vr{ (1,185,808,276) (1,056,404,948) (62,858,364)
ljQLo sf/f]af/af6 v'b gub k|afx 2,160,162,000 (82,186,836) 105,953,397 (947,207,650)
gub tyf gub ;dfgdf ePsf]

sdL÷-j[l4_ 1,812,881,157 1,581,372,232 106,270,103 553,877,407
>fj0f ! @)&$,&%,&^,&& df gub

tyf gub ;dfg df}Hbft 1,128,456,564 2,948,780,102 4,530,152,334 4,636,422,437
ljlgdo b/df ePsf] km/saf6 gub

tyf gub ;dfgdf c;/ 7,442,380 - -
cfiff9 d;fGt @)&%,&^,&& df gub

;dli6s[t ljQLo ljj/0f
12
;dli6s[t jf;nft - /sd ?=_
cfly{s jif{
ljj/0f
@)&#÷&$ @)&$÷&% @)&%÷&^ @)&^÷&&
;DklQ
gub tyf gub ;dfg 2,952,471,513.49 4,531,900,641.14 4,779,994,808.36 5,255,810,829
g]kfn /fi6« a}+sdf /x]sf] df}Hbft tyf lng'
kg]{ 5,265,301,643.36 5,608,171,847.51 2,781,194,461.58 5,325,683,135
a}+s tyf ljQLo ;+:yfdf /x]sf] df}Hbft 982,243,176.96 649,156,510.24 827,701,828.71 2,896,086,670
8]l/e]l6e ljQLo pks/0f 17,734,528.87 - 85,066,888.42 40,221,461
cGo Jofkfl/s ;DklQx? 433,970,678.26 494,859,452.20 572,651,015.17 531,492,829

a}+s tyf ljQLo ;+:yfnfO{ lbPsf] shf{ tyf
;fk6L 603,938,194.57 1,645,223,404.54 2,020,420,376.17 2,844,211,678
u|fxsnfO{ lbPsf] shf{ tyf ;fk6L 51,038,471,540.45 67,598,133,216.04 81,418,905,928.20 90,566,104,231
lwtf]kqdf nufgL 6,444,154,179.91 9,615,731,842.45 13,642,937,699.68 15,051,957,196
;xfos sDkgLdf nufgL - - -
;Da4 sDkgLdf nufgL - - -
;DklQdf nufgL - - -
;DklQ tyf pks/0f 722,470,711.15 889,501,756.58 1,157,047,778.88 1,182,156,083
VoftL / cd't{ ;DklQ 4,367,320.05 58,140,309.02 71,489,745.87 61,286,608
:yug s/ ;DklQ - 50,605,017.73 15,595,266.93 24,629,090
cGo ;DklQ 968,870,818.27 689,951,808.75 1,656,746,809.75 2,174,412,368
s"n ;DklQ 69,440,728,168.80 91,831,375,806.21 109,029,752,607.72 126,244,040,615
bfloTj
a}+s tyf ljQLo ;+:yfnfO{{ ltg{ jfFsL 2,103,519,307.33 1,346,959,039.37 3,694,458,441.55 3,275,974,837
g]kfn /fi6« a}+snfO{ ltg{ jfFsL 611,009,104.67 358,950,007.65 1,018,919,629.30 86,292,488
8]l/e]l6e ljQLo pks/0f - 18,851,133.83 - -

u|fxssf] lgIf]k 55,686,614,339.88 77,805,318,202.84 89,229,715,732.03 107,076,174,929
;fk6L - - - -
rfn' cfos/ bfloTj - 69,570,852.12 22,537,584.45 -
Joj:yf 43,636,196.55 12,572,748.17 27,401,006.55 32,478,077
:yug s/ bfloTj 31,035,758.43 - - -
cGo bfloTj 1,441,628,551.97 1,040,306,882.48 1,287,811,265.80 1,204,391,821
hf/L ul/Psf] C0fkq 370,000,000.00 370,000,000.00 1,724,712,000.00 1,724,712,000
;'/If0f g/flvPsf] ;xfos cfjlws bfloTj - - - -
s"n bfloTj 60,287,443,258.82 81,022,528,866.47 97,005,555,659.69 113,400,024,152
OlSj6L
13
z]o/ k"FhL 6,897,634,000.00 8,001,255,440.00 8,001,255,440.00 8,801,380,984
z]o/ lk|ldod - - - -
;+lrt d'gfkmf 1,285,614,782.64 1,156,659,737.15 1,785,963,624.45 1,218,215,653
hu]8f sf]ifx? 970,036,127.50 1,650,931,762.64 2,236,977,883.68 2,824,419,826
z]o/ wgLx?nfO{ jfF8kmfF8 of]Uo s"n OlSj6L 9,153,284,910.14 10,808,846,939.79 12,024,196,948.12 12,844,016,463
u}/ lgolGqt :jfy{

s"n OlSj6L 9,153,284,910.14 10,808,846,939.79 12,024,196,948.12 12,844,016,463
s"n bfloTj / OlSj6L 69,440,728,168.96 91,831,375,806.26 109,029,752,607.81 126,244,040,615
;+efljt bfloTj tyf k|lta4tf 20,837,946,201.81 29,004,329,134.86 21,935,734,477.86 27,316,773,904
k|lt z]o/ v'b ;DklQ 132.7 135.09 150.27 145.93
;dli6s[t Gffkmf–gf]S;fg lx;fj - /sd ?=_

cfly{s jif{
ljj/)f @)&#÷&$ @)&$÷&% @)&%÷&^ @)&^÷&&
Jofh cfDbfgL 5,152,432,203 8,129,035,230 10,769,806,579 11,483,569,745
Jofh vr{ 2,794,576,846 5,090,072,370 6,546,642,459 7,275,228,305
v'b Jofh cfDbfgL 2,357,855,356 3,038,962,860 4,223,164,120 4,208,341,440
z'Ns tyf sldzg cfDbfgL 459,334,622 727,684,423 823,224,244 732,367,210
z'Ns tyf sldzg vr{ 32,044,769 50,152,348 74,987,742 79,809,476
v'b z'Ns tyf sldzg cfDbfgL 427,289,854 677,532,075 748,236,502 652,557,734
v'b Jofh, z'Ns tyf sldzg cfDbfgL 2,785,145,210 3,716,494,935 4,971,400,622 4,860,899,174
v'b Jofkfl/s cfDbfgL 238,229,707 293,415,099 415,633,736 419,886,042
cGo ;+rfng cfDbfgL 8,666,525 15,537,850 25,588,656 28,854,789
hDdf ;+rfng cfDbfgL 3,032,041,442 4,025,447,884 5,412,623,014 5,309,640,005
shf{ tyf cGo gf]S;fgL Joj:yf÷lkmtf{ 134,882,142 239,217,543 218,238,049 797,024,603
v'b ;+rfng cfDbfgL 2,897,159,300 3,786,230,340 5,194,384,965 4,512,615,402
;+rfng vr{
sd{rf/L vr{ 564,648,398 879,064,446 1,275,258,347 1,247,906,254
cGo ;+rfng vr{ 293,993,268 390,683,713 521,747,039 578,349,731
x|f; s§L tyf kl/iff]wg 83,892,700 107,533,605 141,045,082 157,333,449
;+rfng d'gfkmf 1,954,624,935 2,408,948,577 3,256,334,497 2,529,025,968
u}/ ;+rfng cfDbfgL 41,208,786 914,061 3,361,023 1,409,962
u}/ ;+rfng vr{ 280,973 734,365 6,999,259 1,766,238
cfo s/ cl3sf] d'gfkmf 1,995,552,747 2,409,128,273 3,252,696,261 2,528,669,692
14
cfos/ vr{
rfn' s/ 572,657,812 777,526,986 974,884,742 758,890,029
:yug s/ 17,136,911 (56,493,106) 4,244,691 2,793,586
o; cjlwsf] d'gfkmf 1,405,758,024 1,688,094,393 2,273,566,828 1,766,986,077
a}+ssf] z]o/wgL 1,405,758,024 1,688,094,393 2,273,566,828 1,766,986,077
u}/ lgolGqt :jfy{ - - -
o; jif{ d'gfkmf 1,405,758,024 1,688,094,393 2,273,566,828 1,766,986,077
k|lt z]o/ cfDbfgL

cfwf/e't k|lt z]o/ cfDbfgL 21.56 21.1 28.42 20.08
8fOn'6]8 k|lt z]o/ cfDbfgL 21.56 21.1 28.42 20.08
;dli6s[t gub k|jfx - /sd ?=_

cf=j
ljj/0f @)&#÷&$ @)&$÷&% @)&%÷&^ @)&^÷&&
Aofh cfDbfgL 4,824,523,673 8,002,273,251 10,497,673,151 10,892,589,020
z'Ns tyf cfDbfgL 342,933,527 754,957,589 830,800,086 730,708,952
nfef+z k|fKtL - 319,619 2,308,438
sf/f]jf/ ;~rfngaf6 k|flKt 301,979,944 312,307,411 415,482,631 423,544,758
Aofh vr{ (2,810,966,277) (5,092,440,963) (6,351,480,965) (7,281,196,956)
sldzg tyf z'Ns vr{ (50,152,348) (74,987,742) (81,001,852)
sd{rf/L vr{ (345,209,152) (722,689,017) (1,297,991,116) (1,198,160,676)
cGo vr{ (344,710,176) (376,854,190) (516,100,343) (566,241,905)
;~rfng ;DklQ / bfloTjsf] kl/jt{g

cl3sf] ;~rfng gub k|jfx 1,968,551,539 2,827,401,732 3,503,715,322 2,922,549,780
;~rfng ;DalGw rfn' ;DklQdf yk÷-

36_
g]kfn /fi6« a}+sdf /x]sf] df}Hbft (2,690,513,662) (342,870,204) 2,826,977,386 (2,544,488,673)
a}+s tyf ljQLo ;+:yfx?df /x]sf] df}Hbft 1,812,420,202 333,086,667 (8,545,318) (2,068,384,842)
cGo Aofkfl/s ;DklQ 609,467,888 (90,126,962) (53,635,213) 40,877,100
a}+s tyf ljQLo ;+:yfx?nfO{ lbOPsf]

shf{ tyf ;fk6L (1,051,307,909) (375,196,972) (823,791,302)
u|fxsnfO{ lbOPsf] shf{ tyf ;fk6L (10,518,959,375) (16,788,980,230) (14,038,916,012) (10,228,468,429)
cGo ;DklQ (1,229,690,977) 367,753,361 (826,657,744) 78,625,759
;~rfng ;DalGw rfn' bfloTjdf yk÷-

36_
15
a}+s tyf ljQLo ;+:yfx?nfO{ lbg' kg{]
afFsL /sd (221,460,000) (756,560,268) 2,347,499,402 (418,483,605)
g]kfn /fi6« a}+snfO{ lbg' kg]{ afFsL /sd (2,449,470,473) (252,059,097) 659,969,622 (932,627,141)
u|fxssf] lgIf]k 10,914,221,004 21,241,939,572 11,380,335,676 17,846,459,197
C0f ;fk6L (221,460,000) - - -
cGo bfloTj 1,415,247,131 420,917,477 267,986,219 (75,452,348)
cfos/ cufl8sf] sf/f]af/ ;~rfngaf6

v'b gub k|jfx 9,437,077,662 5,909,194,139 5,683,532,368 3,796,815,497
cfos/ e'QmfgL 555,986,127 (781,995,703) (924,705,484) (788,912,511)
sf/f]af/ ;~rfngaf6 v'b gub k|jfx (1,167,632,850) 5,127,198,436 4,758,826,884 3,007,902,985

lwtf]kq nufgL vl/b 946,839,517 (3,151,470,593) (4,197,746,243) (1,407,229,468)
lwtf]kq nufgL ljlqmaf6 k|fKt 11,356,071 - -
;DklQ tyf pks/0f vl/b (144,855,919) (278,384,411) (416,155,545) (188,238,260)
;DklQ tyf pks/0f ljlqmaf6 k|fKt 16,189,423 6,094,836
cd"t{ ;DklQ vl/b (53,235,136) (21,967,769) 9,773,597
cd"t{ ;DklQ ljqmLaf6 k|fKt - -
;DklQdf ul/Psf] nufgL - -
;DklQdf ul/Psf] nufgL ljqmLaf6 k|fKt 11,356,071 - -
Jofh cfDbfgL 247,216,649 1,855,212 - 2,641,479
nfef+z cfDbfgL 6,420,905 4,296,384 2,994,020 24,578,501
nufgL sf/f]af/df v'b gub k|jfx 1,066,977,223 (3,465,582,473) (4,616,686,114) (1,552,379,315)
ljQLo sf/f]jf/df gub k|jfx

C0fkq lgisfzgaf6 k|fKt - 1,354,712,000 -
C0fkqdf vr{ - - -
c;'/lIft bfloTjsf] lgisfzgaf6 k|fKt - - -
c;'/lIft bfloTjdf ePsf] vr{ - - -
z]o/ lgisfzgaf6 k|fKt 2,160,162,000 1,103,621,440 - -
nfef+z vr{ - - (916,849,285)
Aofh vr{ (192,353,655) -
cGo cfDbfgL vr{ (2,284,042,862) (1,185,808,276) (1,056,404,948) (62,858,364)
ljQLo sf/f]af/af6 v'b gub k|afx (123,880,862) (82,186,836) 105,953,397 (979,707,650)

gub tyf gub ;dfgdf ePsf] sdL÷-
j[l4_ (224,536,489) 1,579,429,127 248,094,167 475,816,020
>fj0f ! @)&%,&^,&& df gub tyf

gub ;dfg df}Hbft 3,169,565,623 2,952,471,513 4,531,900,641 4,779,994,808
ljlgdo b/df ePsf] km/saf6 gub tyf

gub ;dfgdf c;/ 7,442,380 - - -
16
cfiff9 d;fGt @)&%,&^,&& df gub
ª_ ljut tLg jif{sf] k|lt z]o/ cfDbfgL -clg{Ë k/ z]o/_ / k|lt z]o/ g]6jy{ ;DaGwL ljj/0fM
jf:tljs -;dli6s[t_
ljj/0fx? cf= j= cf= j= cf= j= cf= j=
@)&#÷)&$ @)&$÷&% @)&%÷&^ @)&^÷&&
r'Qmf k"FhL 6,897,634,000.00 8,001,255,440.00 8,001,255,440.00 8,801,380,984
sN; Og P8efG; - - - -
;+lrt d'gfkmf 1,285,614,782.64 1,156,659,737.15 1,785,963,624.45 1,218,215,653

k|:tfljt af]g; z]o/ -
hu]8f tyf sf]]ifx? 970,036,127.50 1,650,931,762.64 2,236,977,883.68 2,824,419,826
hDdf v'b ;DkQL (Total Networth) 9,153,284,910.14 10,808,846,939.79 12,024,196,948.12 12,844,016,463
z]o/ ;+Vof 68,976,340 80,012,554.40 80,012,554.40 80,012,554.40
v'b gfkmf÷gf]S;fg 1,405,758,024 1,688,094,393 2,273,566,828 1,766,986,077
k|ltz]o/ g]6jy{ 132.70 135.09 150.28 145.93
k|lt z]o/ cfDbfgL (EPS) 21.56 21.10 28.42 20.08
*a}+ssf] g]6jy{df k|ltkmn k|ltzt -Ü_ 14.39 18.67 23.20 16.09

*o;sf] u0fgfdf ;di6Ls[t tYofªs ;dfj]z gul/ a}+ssf] tYofªs dfq lnOPsf] ;fy} u0fgfdf lgDg ;'q k|of]u ul/Psf] .
g]6jy{df k|ltkmn k|ltzt = s/ kl5sf] v'b gfkmf÷-hDdf v'b ;DkQL– s/ kl5sf] v'b gfkmf_
^= of]hgf Joj:yfks ;DaGwL ljj/0fM

^=! of]hgf Joj:yfkssf] kl/roM
-s_ of]hgf Joj:yfkssf] gfd M ;flgdf Soflk6n lnld6]8 .
-v_ of]hgf Joj:yfks :yflkt ePsf] P]g÷lgod;DaGwL ljj/0fM
of]hgf Joj:yfks sDkgLM ;flgdf Soflk6n lnld6]8 sDkgL P]g, @)^# / lwtf]kq ;DaGwL P]g, @)^#
cGtu{t lwtf]kq Joj;foL dr]{G6 a}+s/sf] ?kdf :yfkgf ePsf] xf] .
-u_ of]hgf Joj:yfkssf] /lhi68{ 7]ufgfM
afUdtL c~rn, sf7df8f}+ lhNnf, sf7df8f}+ dxfgu/kflnsf j8f g+ @*, k'tnL;8s .
-3_ of]hgf Joj:yfkssf] :yfkgfsfnb]lv xfn;Ddsf] ;+lIfKt Oltxf;M
>L ;flgdf Soflk6n lnld6]8 sDkgL P]g, @)^# cGtu{t ldlt @)&@÷)*÷@# df g]kfn ;/sf/, pBf]u
dGqfno, sDkgL /lhi6«f/sf] sfof{nodf btf{ ePsf] ;+:yf xf] . sDkgLn] lwtf]kq ;DaGwL P]g, @)^#
cGtu{t lwtf]kq Joj;foL dr]{06 a}+s/sf] ?kdf sfo{ ug{ af]8{af6 ldlt @)&#÷)%÷!^ df cg'dltkq
k|fKt u/L ;]fxL ldltaf6 dr]{06 a}+ls+u ;]jf k|bfg ub}{ cfPsf] 5 . sDkgLn] cfkm\gf] :yfkgf jif{df lwtf]kq
lgisfzg tyf laqmL k|aGwssf] ?kdf ljleGg ;+3 ;+:yfx?sf] lwtf]kqsf] ;fj{hlgs lgisfzg sfo{
u/]sf]df xfn sDkgLn] ;f]sf] cnfjf cfkm"n] k|bfg ug]{ ;]jfnfO{ ljljwLs/0f ub}{ z]o/ k|Tofe"tL ;]jf, z]o/
/lhi6«f/ ;]jf, nufgL Joj:yfkg ;]jf tyf ljQLo k/fdz{ ;]jf;d]t k|bfg ub}{ cfO{/x]sf] 5 .
-ª_ of]hgf Joj:yfkssf k|d'v p2]Zox? M

k|aGwkqdf pNn]v eP adf]lhd of]hgf Joj:yfkssf k|d'v p2]Zox? b]xfo adf]lhd /x]sf 5g\ M
!= sDkgLsf z]o/wgLsf] xs lxtsf] ;+/If0f / ;Da4{g ug{] .
@= nufgLstf{x?nfO{ lwtf]kq Joj;foLsf] ¿kdf u'0f:t/Lo tyf e/kbf{] ;]jf pknAw u/fpg] .
#= nufgLstf{x?sf] k"F'hL ahf/tkm{sf] ljZj;lgotf clea[l4 ug{ cfjZos sfo{ ;~rfng ug{] .
$= gofF tyf xfn sfod k"FhL ahf/;Fu ;DalGwt ;]jfsf] ljsf;÷lj:tf/ ug{ g]kfn lwtf]kq af]8{;Fu
cfjZos ;dGjo ug{] tyf cfjZostfg';f/ :jLs[lt kf|Kt u/L pRr:t/Lo ;]jf k|bfg ug{] .
%= pknAw zLk, >d tyf k"FhLnfO{ plrt kl/rfng u/L u|fdL0f tyf zx/L If]qdf k"FhL ahf/;Fu ;Da4
;'ljwfx? pknAw u/fpg cfjZos ljQLo ;fwg, k|fljlws tyf Joj:yfksLo k/fdz{ ;]jf, tflnd
17
tyf k|ljlw pknAw u/fO{ b]zdf kF"hL ahf/sf] ;du| ljsf;sf nflu ;lqmo ?kdf ;+nUg eO{ ;xof]u
k'¥ofpg] .
^=@ of]hgf Joj:y.kssf] e.jL o.]hgf tyf /0.gLlt

-s_ Joj;fo÷ ;]jf a[l4sf nflu of]hgf Joj:yfkssf] efjL of]hgf / To:tf] of]hgfsf] k|flKtsf nflu rflng]
;doj4 /0fgLltM
sDkgLn] ahf/sf] cj:yf x]/L cfk\mgf] klxnf] / o; of]hgfsf cltl/Qm cGo ljleGg of]hgfx? ;d]t
;~rfngdf Nofpg]5. sDkgLn]] aGbd''vL of]hgfsf] ;~rfng ;Fu} v''nfd'vL of]hgfx?df klg hf]8 lbg]5
;fy} cfufdL lbgx?df ;j{;fwf/0f nufgLstf{x?nfO{ nlIft gljgtd of]hgfx?sf] z'?jft ug{]5 .
sDkgLn] lwtf]kq af]8{af6 lwtf]kq Joj;foL -dr]{G6 a}+s/_ sf] ?kdf lgisf;g tyf laqmL k|aGw, lwtf]kq
k|Tofe"lt, z]o/ /lhi6«]zg / nufgL Joj:yfkgsf] sfo{ ug{ cg'dltkq klg k|fKt u/]sf] x'gfn] of]hgf
Aoj:yfkgsf ;fy} cfufdL lbgx?df u|fxsju{dfemdf ljZj;gLotfsf ;fy dr]{G6 a}+ls+u ;DalGw ;]jfnfO{
;zQm ?kdf la:tf/ ub}{ nfg] /0flglt lnPsf] 5 . ;fy} sDkgLn] ;+:yfut k/fdz{bftfsf] ?kdf sfo{ ug{]
of]hgf ;d]t agfPsf] 5 . sDkgLn] ;do ;fk]If cfkmgf] k|ljlw ;'wf/ u/L g]kfn e/ cfkmgf] ;]jf lj:tf/
ug]{ tyf OGe]i6d]G6 a}+ls+u If]qdf ljljw gofF ;]jf k|bfg ub}{ hfg] /0fgLlt lnPsf] 5 .
-v_ k|lt:kwf{, ljBdfg cfly{s l:ylt / ;dfg lsl;dsf] pBf]usf] l:yltsf] cfwf/df of]hgf Jo:yfkssf]
Joj;fosf] eljio M
g]kfnL k"FhL ahf/df ;fd"lxs nufgL sf]ifsf] cjwf/0ff xfn;fn} ljsf; ePsf] xf] . o; k|sf/sf] ;]jf k|bfg
ug{ :yflkt sDkgLx? ;]jfsf] kf|ylds r/0fd} /x]sf 5g\ . o; sDkgLn] cfˆgf] If]]qdf k|lt:kwL{ /xg
cfjZos /0fgLlt tof/ u/]sf] 5 . sDkgLn] cfˆgf] nufgLdf /x]sf hf]lvdx? sd u/L eljiodf k"FhL
ahf/df dxTjk"0f{ :yfg lng] ljZjf; lnPsf] 5 .
^=# of]hgf Joj:y.kssf] ;~r.ns ;ldltsf] ;+/rgf / k|ltlglwTj;DaGwL Joj:yf M

sDkgLsf] ;~rfns ;ldltsf] ;+/rgf tyf k|ltlglwTj b]xfo adf]lhd /x]sf] 5 M
qm=;+= ljj/0f ;+Vof
! ;+:yfks ;d"xsf] z]o/wgL >L ;flgdf a}+s lnld6]8af6 k|ltlglw $ hgf
@ :jtGq Jofj;flos ;~rfns @ hgf

hDdf ^ hgf
:jtGq Joj;flos ;~rfnssf] lgo'lQm ;~rfns ;ldltn] ug]{ k|fjwfg /x]sf] 5 .
^=$ of]hgf Joj:y.kssf] k"FhL ;+/rgf -clws[t k"FhL, hf/L k"FhL tyf r'Qmf k"FhL_ ;DaGwL hfgsf/L
s_ clws[t k"FhL M sDkgLsf] clws[t k"FhL ?=@%,)),)),))).– -klRr; s/f]8_ /x]sf] 5 . ;f] k"FhLnfO{ k|lt
z]o/ ?=!)).– b/sf @%,)),))) -klRr; nfv_ lsQf ;fwf/0f z]o/df laefhg ul/Psf] 5 .
v_ hf/L k"FhL M sDkgLsf] hf/L k"FhL ?=@%,)),)),))).– -klRr; s/f]8_ /x]sf] 5 . ;f] k"FhLnfO{ k|lt z]o/
?=!)).– b/sf @%,)),))) -klRr; nfv_ lsQf ;fwf/0f z]o/df laefhg ul/Psf] 5 .
u_ r'Qmf k"FhL M sDkgLsf] tTsfn r'Qmf k"FhL ?=@%,)),)),))).– -klRr; s/f]8_ /x]sf] 5 . ;f] k"FhLnfO{ k|lt
z]o/ ?=!)).– b/sf @%,)),))) -klRr; nfv_ lsQf ;fwf/0f z]o/df laefhg ul/Psf] 5 .
^=% of]hgf Joj:y.kssf] ;+:yfks tyf ;~rfns ;DaGwL hfgsf/L
-s_ ;+:yfks z]o/wgLx?sf] gfd, 7]ufgf, /fli6«otf, z]o/ :jfldTj -r'Qmf k"FhLsf] cfwf/df_, z}lIfs of]Uotf / cg'ej M
18
z}lIf
z]o/ :jfldTj
s cg'ej
qm=;+= Gffd 7]ufgf /fli6«otf -r'Qmf k"FhLsf]
of]Uo
cfwf/df_
tf
a}+lsË If]qdf !% aif{ eGbf a9L
;flgdf a}+s gf/fo0frf}/ gS;fn, nfu"
! g]kfnL !))Ü ;dob]lv ;]jf lbO/x]sf] æsÆ au{sf]
lnld6]8 sf7df08f} . gx'g]
Ohfhtk|fKt afl0fHo a}+s
-v_ ;~rfnsx?sf] gfd, kb, pd]/, 7]ufgf, /fli6«otf, z}lIfs of]Uotf / cg'ej M
pd]/ z}lIfs cg'ej
qm=;+= Gffd kb 7]ufgf /fli6«otf
-jif{_ of]Uotf
;g\ !(*( h'g b]lv !((!
clk|n ;Dd g]kfn cfon
lguddf n]vf ;xfossf]
?kdf sfo{cg'ea, ;g\ !((!
d] b]vL !((% clk|n ;Dd
tTsflng g]kfn lu|G8n]h a}+s
ln= df ;xfos tyf al/i7
;xfos kbsf] sfo{cg'ea,;g\
!((% l8;]Da/ b]lv @))!
l8;]Da/ ;Dd shf{ clws[t,
cfGtl/s n]vfkl/If0f clws[t,
>L t]h axfb'/ rGb lgIf]k, ljk|]if0f tyf lx;fj
e}+;]kf6L j8f g+=
!= -;flgdf a}+s ln= sf] cWoIf %# g]kfnL Pd=la=P ldnfg clws[t, zfvf
!), nlntk'/ .
tkm{af6_ k|aGws sf] ?kdf g]kfn
P;=lj=cfO{ a}+sdf
sfo{cg'ea, ;g\ @))!
hgj/L b]lv @))% h'g
;Dd gfoa k|aGws tyf
al/i7 zfvf k|aGwssf] ?kdf
tTsflng Pg=cfO{=lz a}+sdf
sfo{cg'ea,
;g\ @))^ gf]e]Dj/ b]lv
;flgdf a}+sdf gfoa k|d'v
sfo{sf/L clws[tsf] ?kdf
sfo{/t .
glan a}sdf ;g\ @))!
;]K6]Dj/ b]lv @)!# ;Dd
slgi7 ;xfos, ;xfos,
al/i7 ;xfos, slgi7
clws[t,al/i7 clws[t,;xfos
>L lgZrn /fh kf08]
k|aGws, gfoa k|jGws kbdf
@= -;flgdf a}+s ln= sf] ;~rfns $^ sf=d=g=kf ## g]kfnL Pd=la=P
sfo{cg'ej .
tkm{af6_
;g\ @)!# cui6 !* b]lv
;flgdf a}sdf k|d'v hf]lvd
Aoa:yfkg clws[t x'Fb} k|d'v
shf{ clws[t -;xfos k|d'v
sfo{sf/L clws[t_ sf] ?kdf
19
sfo{/t .
;g\ @))^ hgj/L b]lv
@))* h'nfO{ ;Dd /fli6«o
jfl0fHo a}+sdf 6«]h/L ljefu
sf] pkk|d'v tyf k|d'vsf]
?kdf sfo{cg'ea, tTsfnLg
Pg=cfO=;L a}+sdf laQ ahf/,
a:t' ahf/ tyf nufgL
>L ;/f]h u'/fufO{+ ljefusf] k|d'v, 6«]h/L tyf
;'gfsf]7L l;=P tyf
#= -;flgdf a}+s ln= sf] $# g]kfnL s/]:kf]lG8Ë a}lsË ljefudf
;~rfns nlntk'/ Pd=la=P
tkm{af6_ k|aGwssf] sfo{cg'ea, ;g\
@)!@ dfr{ )$ b]vL ;flgdf
a}sdf k|aGws, k|d'v ljQLo
clws[t nufot k|d'v
kl/of]hgf nufgL clws[t x'Fb}
xfn k|d'v lgIf]k clws[t -
;xfos dxf k|jGws_ sf]
?kdf sfo{/t .
;g\ !((& dfr{b]lv @))!
h'nfO{;Dd g]kfn afog{
On]S6«Ls k|fOe]6 lnld6]8df
Production Engineer sf]
?kdf sfo{ cg'ej,
;g\ @))# cui6b]lv @))*
>L kjg s'df/ cfrfo{ d];Dd sf7df08f} sn]h ckm
Dffgejg %÷(* Pd=la=P
$= -;flgdf a}+s ln=sf] ;~rfns $* g]kfnL Dofg]hd]G6 / P; OlGi6Ro'6
3 nlntk'/ tyf la=O{
tkm{af6_ ckm Dofg]hd]G6df Visiting
Faculty sf] ?kdf sfo{
cg'ej / ;g\ @))$ dfr{b]lv
;flgdf a}sdf ljleGg kbdf
/lx xfn k|d'v ;"rgf clws[t
-;xfos k|d'v sfo{sf/L
clws[t_ sf] ?kdf sfo{/t .
g]kfn /fi6« a}+sdf ljleGg
kbdf sl/a #) jif{ ;]jf u/L
sfo{sf/L lgb]{zs kbaf6
@)&$ r}q ! af6 ;]jf lgj[t
. g]kfn sdz{ SofDk;,
:jtGq
6f]vf g=kf & z+s/b]j, la|l6; sn]h,
%= 8f= uf]kfn k|;fb e§ Joj;foLs %@ g]kfnL Pd=lj=P
sf7df08f} o'gLUnf]j, Pk]S; nufotsf
;~rfns
sn]h tyf SofDk;df ljQ,
nufgL Aoj:yfkg, ahf/zf:q
nufotsf Aoj:yfkgsf
ljifox?df nfdf] lzIf0f
cg'ea .
g]kfn /fi6« a}+sdf lj=;+
:jtGq sf=d=g=kf
@)$^ ;fndf ;xfos kb
^= >L ;'lgn pbf; Joj;foLs %! d}ltb]aL, hgtf g]kfnL Pd=la=P
af6 ;]jf k|j]z ul/ lj=;+
;~rfns dfu{,sf7df08f} .
@)&^ ;fndf sfo{sf/L
20
lgb]{zs kbaf6 ;]jf lgj[t .
-u_ ;+:yfksx? s'g} sDkgL÷ ;+:yf ePdf To:tf] sDkgL÷ ;+:yfsf] gfd tyf 7]ufgf, sDkgLn] ug]{ Joj;fo tyf pQm
sDkgL÷;+:yfsf ;~rfnsx?sf] gfd, 7]ufgf, -k|fs[lts JolQm gv'n];Dd_M
l;=g+ ;+:yfks sDkgLsf] gfd ;~rfnsx?sf]

Joj;fo
= tyf 7]ufgf gfd kb 7]ufgf÷s}lkmot
>L ljgos'df/ >]i7 uf]/vsfnL=–!, uf]/vf, xfn M rknL–$,
-;+:yfks ;d"xaf6 cWoIf sf7df08f} .
>L t'sk|;fb kf}8]n ;f}l8of/–!, bfª
-;+:yfks ;d"xaf6_ ;~rfns xfn M sf7df08f} .
>LdtL ufoqL yfkf v}/xgL–^, lrtjg .
>L ;flgdf a}+s lnld6]8 -;+:yfks ;d"xaf6_ ;~rfns xfn M sf7df08f} .
!= Gff/fo0frf}/, gS;fn, a}+lsË
sf7df08f} >L e/ts'df/ kf]v/]n
sf=d=kf=–#$, gofFjfg]Zj/, sf7df08f} .
-;j{;fwf/0f ;d"xaf6_ ;~rfns
>L dx]z l3ld/] lj/f6gu/–$, df]/ª
-;j{;fwf/0f ;d"xaf6_ ;~rfns xfnM dWok'/ l7dL, eQmk'/ .
>L an/fd k/fh'nL
-Aoa;flos ljz]if1_ ;~rfns a'9flgns07, sf7df08f} .
-3_ ;Ful7t ;+:yfsf] ;~rfns cGo s'g} sDkgL÷;:+yf;+u cfj4 eP To:tf] ;~rfns / cfj4 ePsf] sDkgL÷;+:yfsf] gfd tyf
7]ufgf M
qm=;+ ;~rfnssf] gfd cfj4 cGo ;+:yfsf] gfd tyf 7]ufgf kb

!= >L t]h axfb'/ rGb ;flgdf a}+s lnld6]8, sf7df8f}F, g]kfn gfoa k|d'v sfo{sf/L clws[t
@= >L lgZrn /fh kf08] ;flgdf a}+s lnld6]8, sf7df8f}F, g]kfn k|d'v shf{ clws[t
#= >L ;/f]h u'/fufO{+ ;flgdf a}+s lnld6]8, sf7df8f}F, g]kfn k|d'v lgIf]k clws[t
$= >L kjg s'df/ cfrfo{ ;flgdf a}+s lnld6]8, sf7df8f}F, g]kfn k|d'v ;'\"rgf clws[t
%= 8f= uf]kfn k|;fb e§ ;f] gePsf] . –
^= >L ;'lgn pbf; ;f] gePsf] . –
-ª_ ;~rfnsx?nfO{ lbOPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M

;~rfnsx?nfO{ lbOg] eQf tyf kfl/>lds ;DaGwdf sDkgLsf] lgodfjnLsf] lgod % df b]xfo cg';f/sf] Joj:yf
/x]sf] 5 M
-!_ ;~rfns ;ldlt jf cGo pk;ldltsf] a}7sdf pkl:yt eP jfkt k|lt a}7s k|To]s ;~rfns tyf
cfdlGqtnfO{ ¿ &,)))÷— eQf k|bfg ul/g]5 . t/ To:tf cfdlGqt JolQm sDkgLsf] sd{rf/L ePdf lghnfO{ ;f]
eQf k|bfg ul/g] 5}g .
gf]6MM ;flgdf a}ssf] tkm{af6 k|ltlglwTj ug'{x'g] ;~rfnsx?n] xfn;Dd a}7s eQf lng'ePsf] 5}g . sDKfgLsf]
;~rfns ;ldltsf kbflwsf/Lx?nfO{ cGo s'g} k|sf/sf] ;'ljwf k|bfg ug]{ ul/Psf] 5}g .
^=^ of]hgf Joj:y.kssf] sd{rf/L ;DaGwL hfgsf/L
21
-s_ of]hgf Joj:yfkssf] pRr Joj:yfksLo txsf sd{rf/Lx?sf] gfd, kb, pd]/, z}lIfs of]Uotf, Joj;flos cg'ej ;DaGwL
ljj/0f M
qm=;+ pd]/ z}lIfs

Gffd kb cg'ej -;DalGwt jf cGo_
= -jif{_ of]Uotf
!= æuÆ au{sf] /lhi68{ n]vfkl/Ifssf] ?kdf
;g\ !(*( h'nfO{ !% b]lv xfn;Dd sfo{/t .
@= tTsflng P; kmfOgfG; lnld6]8df ;xfos
dxfk|aGws tyf sDkgL ;lrasf] ?kdf ;g\
!& h'nfO{ !((% b]vL # gf]e]Dj/ @))& ;Dd
sfo{/t .
#= tTsflng sfi7d08k 8]enkd]06 a}+sdf
k|d'v ;~rfng clws[t tyf sDkgL ;lrasf]
?kdf ;g\ @))& gf]e]Da/ b]lv !# hgj/L
@))( ;Dd sfo{/t .
$= l;len Soflk6n dfs]{6 lnld6]8df k|d'v
k|d'v sfo{sf/L Pd=lj=P; - sfo{sf/L clws[tsf] ?kdf ;g\ @))( hgj/L
!= >L leid/fh rfln;] %# kmfOgfG;_ !$ b]lv !# d] @)!^ ;Dd sfo{/t .
clws[t
%= ljcf]s] Soflk6n dfs]{6 lnld6]8df k|d'v
sfo{sf/L clws[tsf] ?kdf ;g\ @)!^ d] !$
b]lv !$ hgj/L @)!* ;Dd sfo{/t .
^= l;l6 PS;k|]; kmfOGffG; lnld6]8df k|d'v
sfo{sf/L clws[tsf] ?kdf ;g\ @)!* hgj/L
!% b]lv !^ gf]e]Dj/ @)@) ;Dd sfo{/t .
&= ;flgdf a}+sdf al/i7 k|aGws /lx ;flgdf
Soflk6n lnld6]8df k|d'v sfo{sf/L clws[tsf]
?kdf ldlt ;g\ @)@) gf]e]Da/ !$ b]vL
sfo{/t .
Pd=la=P,- ;flgdf Soflk6n lnld6]8df OGe]i6d]06 a}+lsË

kmfOgfG;_ k|d'v sf] ?kdf ljut #=% aif{ b]vL sfo{/t
Pd=O{- /x]sf] .
k|d'v–OGe]i6d]06
@= >L dlGbk n'O{6]n #$ On]Sl6«sn cfO{l;=cfO{l;=cfO{ a}+s d'DaO{df sl/a !*
a}lsË kfj/ dlxgf k|aGwssf] ?kdf sfo{ cg'ej .
OlGhlgol/Ë, sf7df08f} OlGhlgol/Ë sn]hdf b'O{ aif{
s]o' cWofkgsf] cg'ej .
;flgdf Soflk6n lnld6]8df dr{]06 a}+lsË
k|d'v sf] ?kdf ljut $ jif{ b]vL sfo{/t
/x]sf] .
tTsflng P; Soflk6n lnld6]8 -xfn
#= >Ldlt /ZdL l/hfn k|d'v–dr{]06 a}+lsË #* Pd=la=P; PgcfOlaPn P; Soflk6n_ df sl/a !)
aif{sf] sfo{ cg'ej .
tTsflng Pg=cfO=l8=l;=Soflk6n dfs]{6\;
lnld6]8 -xfn ;g/fOh Soflk6n_ df sl/a !
aif{sf] sfo{ cg'ej .
-v_ of]hgf Joj:yfkssf] pRr Joj:yfksLo txsf clws[tnfO{ lbPsf] eQf tyf kfl/>lds ;DaGwL ljj/0f M
>fj0f !, @)&^ b]lv cfiff9 d;fGt,@)&&

qm=;+= Gffd kb
;Ddsf] Ps cfly{s jif{sf] tna tyf eQf -¿=_
22
!= >L leid/fh rfln;]* k|d'v sfo{sf/L clws[t
@= >L dlGbk n'O{6]n k|d'v – OGe]i6d]06 a}lsË 14,15,138/-

#= >Ldlt /ZdL l/hfn k|d'v – dr{]06 a}+lsË 10,58,250/-
* o; sDkgLsf] k|d'v sfo{sf/L clws[tsf] ?kdf >L leid/fh rfln;] ldlt @)&&÷)*÷)# ut] af6 lgo'Qm x'g'ePsf] .
^=& of]hgf Joj:y.kssf] ;~r.ng cjlw tLg jif{ Joltt e};s]sf] eP ljut tLg jif{sf] / tLg jif{ Joltt e}g;s]sf] eP
;~rfng cjlwe/sf] n]vfk/LIf0f ePsf] -n]vfk/LIf0f gePsf] eP Joj:yfkgaf6 k|dfl0ft_ jf;nft, gfkmf gf]S;fg lx;fa tyf
gub k|jfxsf] ljj/0f M
jf;nft -/sd ?=df_

k"FhL tyf bfloTj cf=a 2073÷74*
z]o/ k"FhL 110,000,000

hu]8f sf]ifx? 5,615,886
:yug s/ 112,415
cGo bfloTj tyf Joj:yf 427,644,328
hDdf k"FhL tyf bfloTj 543,372,629
;DklQ
a}+s tyf ljQLo ;+:yfdf /x]sf] df}Hbft 448,132,932
u}x| rfn' ;DklQ -
l:y/ ;DklQ 10,441,995
nufgL 72,731,096
cGo ;DklQ 12,066,606
hDdf ;DklQ 543,372,629
-/sd ?=df_
cf=j cf=j cf=j
ljj/0f @)&$÷&% @)&%÷&^ @)&^÷&&
;DkQL
gub tyf gub ;dfg 45,810,161 287,585,801 239,538,743
g]kfn /fi6« a}+sdf /x]sf] df}Hbft tyf lng' kg{] - - -
a}+s tyf ljQLo ;+:yfdf /x]sf] df}Hbft 170,000,000 - 69,000,000
8]l/e]l6e ljQLo pks/0f -
cGo Aofkfl/s ;DklQx? 16,811,305 88,229,204 88,039,824
a}+s tyf ljQLo ;+:yfnfO{ lbPsf] shf{ tyf ;fk6 - - -
u|fxsnfO{ lbPsf] shf{ tyf ;fk6 88,646 45,348 -
lwtf]kqdf nufgL 32,288,068 31,747,682 33,537,710
o; aif{sf] cfos/ ;DkQL 10,890,580 2,234,297 1,540,196
23
;xfos sDkgLdf nufgL - - -
;Da4 sDkgLdf nufgL - - -

;DkQLdf nufgL - - -
;DkQL tyf pks/0f 7,655,465 6,527,100 4,944,587
VoftL / cd't{ ;DkQL 1,589,770 1,170,399 740,858
:yug s/ ;DkQL 453,805 820,696 -
cGo ;DkQL 14,610,952 15,113,192 14,286,159

s'n ;DkQL 300,198,752 433,473,719 451,628,077
bfloTj
a}+s tyf ljQLo ;+:yfnfO{ ltg{ afFsL - - -
g]kfn /fi6« a}+snfO{ ltg{ afFsL - - -
8]l/e]l6e ljQLo pks/0f - - -
u|fxssf] lgIf]k - - -
;fk6L - - -
o; jif{sf] cfos/ bfloTj - - -
Aoj:yf 191,509 226,561 49,160
:yug s/ bfloTj - - 936,020
cGo bfloTj 29,066,339 148,598,270 175,231,368
hf/L ul/Psf] C0fkq - - -
;'/If0f g/flvPsf] ;xfos cfjlws bfloTj - - -
s'n bfloTj 29,257,848 148,824,831 176,216,548
OlSj6L
z]o/ k"FhL 250,000,000 250,000,000 250,000,000
z]o/ lk|ldod - - -
;+lrt d'gfkmf 22,088,017 36,587,339 23308271
hu]8f sf]ifx? (1,147,113) (1,938,451) 2103258
z]o/wgLx?nfO{ afF8kmfF8 of]Uo s'n OlSj6L 270,940,904 284,648,888 275,411,529
u}x| lgoGqLt :jfy{ - - -
s'n OlSj6L 270,940,904 284,648,888 275,411,529
s'n OlSj6L tyf bfloTj 300,198,752 433,473,719 451,628,077
v= gfkmf gf]S;fg lx;fa -/sd ? df_

ljj/0f cf=j 2073÷74*
cfDbfgL
dr]{G6 a}lsË cfDbfgL 47,803,095
nufgL Aoa:yfkgaf6 cfDbfgL 214,247
Aofh cfDbfgL 7,612,850
cGo cfDbfgL 2,101,109
hDdf cfDbfgL 57,731,301
vr{ -
24
sd{rf/L vr{ 6,110,257
;fwf/0f ;~rfng vr{ 6,889,490
x|f;s§L vr{ 2,047,659
Aofh vr{ -
hDdf vr{ 15,047,406
;~rfng d'gfkmf 42,683,895
lgoldt sf/f]af/af6 ePsf] d'gfkmf 42,683,895
z]o/sf] k'gd'{Nofªsg af6 gf]S;fg -
z]o/sf] d'Nofªsg -
sd{rf/L af]g; Joj:yf -
sd{rf/L af]g; Aoa:yf cufl8sf] gfkmf 42,683,895
sd{rf/L af]g; Joj:yf -
s/ cufl8sf] gfkmf 42,683,895
cfos/ Joj:yf 10,609,565
o; jif{sf] 10,592,625
:yug s/ 16,939
v'b gfkmf÷-gf]S;fg_ 32,074,330
-/sd ? df_
cf=j cf=j cf=j
ljj/0f
@)&$÷&% @)&%÷&^ @)&^÷&&
Aofh cfDbfgL 23,953,100 15,752,809 18,647,140
Aofh vr{ - 1,285,803 -
v'b Aofh cfDbfgL 23,953,100 14,467,006 18,647,140

z'Ns tyf sldzg cfDbfgL 23,251,731 39,947,345 36,142,771
z'Ns tyf sldzg vr{ 1,127,586 1,733,549 1,279,003
v'b z'Ns tyf sldzg cfDbfgL 22,124,145 38,213,796 34,863,768
v'b Aofh, z'Ns tyf sldzg cfDbfgL 46,077,246 52,680,802 53,510,908
v'b Aofkfl/s cfDbfgL (3,309,705) 22,808,880 (771,782)
cGo ;~rfng cfDbfgL 22,022 356,941
hDdf ;~rfng cfDbfgL 42,789,563 75,846,624 52,739,126
shf{ hf]lvd Aoj:yf÷lkmtf{ tyf cGo gf]S;fgL - -
v'b ;~rfng cfDbfgL 42,789,563 75,846,624 52,739,126

;~rfng vr{
25
sd{rf/L vr{ 13,508,782 15,490,612 13,216,980
cGo ;~rfng vr{ 7,410,188 8,037,647 7,675,211
x|f;sl§ tyf kl/iff]wg 2,078,161 1,879,283 1,798,881
;~rfng d'gfkmf 19,792,432 50,439,082 30,048,054
u}/ ;~rfng cfDbfgL] 304,641 1,273,856 -
u}/ ;~rfng vr{ 179,508 173,195 245,747
cfo s/ cl3sf] d'gfkmf 19,917,565 51,539,742 29,802,307

cfos/ vr{
rfn' s/ 3,275,995 17,068,166 7,163,076
:yug s/ (74,600) (27,746) 1,042,678
o; calwsf] d'gfkmf 16,716,170 34,499,322 21,596,553

gfkmf afF8kmfF8
a}+ssf] z]o/wgL 15,569,057 33,707,984
u}x| lgolGqt :jfy{ - -
o; cjlwsf] d'gfkmf 15,569,057 33,707,984
cfwf/e't k|lt z]o/ cfDbfgL 6.69 13.80 8.64
8fOn'6]8 k|lt z]o/ cfDbfgL 6.69 13.80 8.64
u= gub k|jfx ljj/0f -/sd ? df_

cf=j
ljj/0f
2073÷74*
-s_ sf/f]jf/ ;+rfngaf6 gub k|jfx 419,586,919
! gub k|flKt 53,484,212
!=! dr]{G6 a}+lsË af6 cfDbfgL 3,034,733
!=@ nufgL Aoa:yfkg af6 cfDbfgL 214,247
!=# Aofh cfDbfgL 50,198,610
!=$ cGo cfDbfgL 36,623
@ gub e'QmfgL 14,432,466
26
@=! sd{rf/L vr{ 6,110,257
@=@ sfof{no ;+rfng vr{ 6,878,690
@=# Aofh vr{ -
@=$ cfos/ e'Qmfg 1,443,519
ut cfly{s jif{ ;Ddsf] d'gfkmfdf ;dfof]hg -
sfo{ut k"FhL -Working Capital_ ultljlw cl3sf] gub k|jfx 380,568,136
!= cNksflng sfo{ut ;fk6Ldf -sdL_÷a[l4 398,886,533
@= cNksflng sfo{ut ;fk6Ldf sdL÷-a[l4_ (18,318,396)
cGo ;dfof]hg (32,964)
-v_ nufgL sf/f]af/df gub k|jfx (47,279,259)
! lwtf]kq ljlqmafkt k|flKt 11,356,071)
@ lwtf]kq v/Lbafkt e'QmfgL (11,415,184)
# d'2tL artdf nufgL (45,000,000)
$ nufgLaf6 Aofh k|flKt 1,855,212
% nfefFz k|fKtL 87,950
^ l:y/ ;DkQLdf sdL÷-a[l4_ (4,163,308)
-u_ ljQLo >f]t sf/f]jf/af6 gub k|jfx (3,300,000)
! z]o/ k"FhLdf a[l4÷-sdL_ -
@ nfef+z e'Stfg (3,300,000)
3_ gub tyf a}+s df}Hbftsf] lalgdo b/df ePsf] km/saf6 cfDbfgL÷vr{ -
-ª_ o; aif{sf] ;Dk"0f{ ultljlwaf6 gub k|jfx 369,007,660
-r_ gub tyf a}+sdf /x]sf] z'? df}Hbft 79,125,272
-5_ gub tyf a}+sdf /x]sf] clGtd df}Hbft 448,132,932
-/sd ? df_
cf=j cf=j cf=j
ljj/0f
@)&$÷&% @)&%÷&^ @)&^÷&&
Aofh cfDbfgL 2,173,650 15,752,809 16,435,589
z'Ns tyf cfDbfgL 24,023,619 41,523,955 37,442,131
nfef+z k|fKtL 1,496,006 319,619 2,308,438
- -
sf/f]jf/ ;~rfngaf6 k|flKt 8,675
-
Aofh vr{ (1,285,803) -
-
sldzg tyf z'Ns vr{ (1,733,549) (2,471,378)
(11,295,174) (9,064,700)
sd{rf/L vr{ (13,984,420)
cGo vr{ (8,648,070) (9,300,992)
27
(7,540,315)
;~rfng ;DklQ / bfloTjsf] kl/jt{g cl3sf] ;~rfng gub
k|jfx 7,750,031 36,211,340 32,198,720
;~rfng ;DalGw rfn' ;DklQdf yk÷-36_

- -
g]kfn /fi6« a}+sdf /x]sf] df}Hbft -
a}+s tyf ljQLo ;+:yfx?df /x]sf] df}Hbft 170,000,000 (69,000,000)
cGo Aofkfl/s ;DklQ 6,239,977 (48,928,638) (6,292,377)
a}+s tyf ljQLo ;+:yfx?nfO{ lbOPsf] shf{ tyf ;fk6L -
u|fxsnfO{ lbOPsf] shf{ tyf ;fk6L 48,857 46,984
cGo ;DklQ (12,448,897) (507,798) 138,856
;~rfng ;DalGw rfn' bfloTjdf yk÷-36_ -
a}+s tyf ljQLo ;+:yfx?nfO{ lbg' kg{] afFsL /sd -
g]kfn /fi6« a}+snfO{ lbg' kg]{ afFsL /sd -
u|fxssf] lgIf]k -
C0f ;fk6L 27,706,326
cGo bfloTj (372,747,951) 113,688,661 (15,201,491)
(371,206,840) 270,512,421
cfos/ cufl8sf] sf/f]af/ ;~rfngaf6 v'b gub k|jfx (6,461,688)
(8,411,884)
cfos/ e'QmfgL (21,663,179)
(371,206,840) 262,100,537
sf/f]af/ ;~rfngaf6 v'b gub k|jfx -
nufgL vl/b (158,926,800) - -
nufgL ljlqm - -
l:y/ ;DklQsf] vl/b (207,912) (324,897) (403,475)
l:y/ ;DklQsf] ljlqm - - 485,437
cd'{t ;DklQsf] vl/b (881,400) - -
cd'{t ;DklQsf] ljlqmaf6 k|flKt - - -
nufgLdf j[l4 - - -
nufgLsf] ;DklQsf] ljlqm - - -
Aofh cfDbfgL 16,400,181 - 2,641,479
28
nfef+z cfDbfgL - - 3,392,680
(143,615,931) (324,897)
nufgL sf/f]af/df v'b gub k|jfx 6,116,121
ljlQo sf/f]jf/df gub k|jfx

C0fkq lgisfzgaf6 k|fKt - -
C0fkqdf vr{ - -
c;'/lIft bfloTjsf] lgisfzgaf6 k|fKt - -
c;'/lIft bfloTjdf ePsf] vr{ - -
z]o/ lgisfzgaf6 k|fKt 140,000,000 -
nfef+z vr{ (27,500,000) (20,000,000) (32,500,000)
Aofh vr{ - -
cGo cfDbfgL vr{ - -
ljlQo sf/f]af/af6 v'b gub k|afx 112,500,000 (20,000,000) (32,500,000)
gub k|afxdf ePsf] v''b 36÷-a9_ (402,322,771) 241,775,640 (48,047,058)
gub tyf gub ;dfgdf /x]sf] z'?jftL df}Hbft 448,132,932 45,810,161 287,585,801
gub tyf gub ;dfgdf ljlgdo b/df ePsf] km/saf6
cfDbfgL÷vr{ - -
gub tyf gub ;dfgdf /x]sf] clGtd df}Hbft 45,810,161 287,585,801 239,538,743
*of]hgf Aoj:yfkssf] cf=j @)&#÷&$ sf] ljQLo ljj/0f NFRS adf]lhd g/x]sf] .
^=* of]hgf Joj:y.kssf] n]vf gLlt ;DaGwL Joj:yf M

of]hgf Joj:y.ksn] g]kfn rf6{8{ PsfpG6]G6\; ;+:yfaf6 lgwf{l/t Nepal Accounting Standard (NAS) cg'?ksf] n]]vf gLlt
kfngf u/]sf] 5 .
^=( of]hgf Joj:y.kssf] n]vfk/LIfssf] gfd tyf 7]ufgf M
of]hgf Joj:yfkssf] cf=j=@)&%÷&^ sf] x/lx;fa n]vfk/LIf0f ug{ sDkgLsf] t]>f] aflif{{s ;fwf/0f ;efn] >L P;=P=cf/
P;f]l;P6\; rf6{8{ Psfp06]06\;, lazfn a:tL -s_ ^$ lazfngu/, sf7df08f}+nfO{ lgo'Qm u/]sf] 5 .
^=!) of]hgf Joj:y.kssf] sf/f]af/df c;/ kg{] s'g} ljjfb÷d'2f dfldnf eP ;f] sf] ljj/0f tyf d'2f dfldnf clGtd ?kdf
km};nf eO{ hl/jfgf a'emfPsf] eP ;f];DaGwL ljj/0fM ;f] gePsf] .
^=!! of] of]hgfeGbf cufl8sf] of]hgfsf] v'b ;DklQ d"No (NAV) ;DaGwL ljj/0f M
;flgdf Do'r'cn km08 cGtu{t o; cl3 & jif{ cjlwsf] ;flgdf OSjL6L km08 ;~rfngdf /x]sf] 5 .
;flgdf OSjL6L km08 sf] v'b ;DklQ d"No ;DaGwL ljj/0f M
ldlt k| l t OsfO{ v' b ;DkQL d' N o -?=_
d+ l ;/ @)&& !$=*&
sflt{ s @)&& !@=*@
cflZjg @)&& !@=&
efb| @)&& !@=%@
>fj0f @)&& 1 1. 7 1
cfiff9 @)&& 1 1. 3 9
h] i 7 @)&& 10 . 1 1
a} z fv @)&& 10 . 1 1
r} q @)&^ 10 . 4 3
kmfNu' 0 f @)&^ 1 1. 19
29
df3 @)&^ 11 . 0 0
kf} i f @)&^ 10 . 5 6
d+ l ;/ @)&^ 9.84
sflt{ s @)&^ 9.69
cflZjg @)&^ 9.59
efb| @)&^* 9.58
>fj0f @)&^ 10 . 9 2
cfiff9 @)&^ 1 1. 0 3
Ho] i 7 @)&^ 1 1. 15
a} z fv @)&^ 1 1. 3 4
r} q @)&% 10 . 8 6
kmfNu' 0 f @)&% 10 . 6 6
df3 @)&% 10 . 5 3
kf} i f @)&% 10 . 5 8
dfu{ @)&% 10 . 2
sflt{ s @)&% 10 . 3 2
cflZjg @)&% 10 . 3 8
efb| @)&% 10 . 3 8
>fj0f @)&% 10 . 2 3
cfiff9 @)&% 10 . 1 5
Ho] i 7 @)&% 10 . 1
a} z fv @)&% 10 . 1 4
r} q @)&$ 9.93
kmfNu' 0 f @)&$ 9.88
df3 @)&$ 9.96
kf} i f @)&$ 9.96
*gub nfef+; ljt/0f kl5sf] ;dfof]lht k|lt OsfO{ v'b ;DkQL d'No
;flgdf OSjL6L km08n] ljt/0f u/]sf] nfef+z ;DalGw ljj/0f tn tflnsfdf k|:t't ul/Psf] 5 M
cfly{s jif{ @)&^÷)&& @)&%÷)&^ @)&$÷)&%
gub nfef+z k|ltzt &Ü !)Ü –
^=!@ of]hgf Joj:yfkssf] /]l6Ë u/]sf] eP /]l6Ë ug]{ sDkgL tyf /]l6Ë ;ª\s]t M
of]hgf Joj:yfkssf] /]l6Ë ;DaGwL ;+s]t b]xfo adf]lhd /x]sf] 5 .
/]l6Ë sDkgL M >L Oqmf g]kfn lnld6]8, l8lNnahf/, sf7df08f}+ .
"ICRA NP Asset Management Company Quality Three" [ICRANP] AMC Quality 3 (AMC3) k|fKt . pQm /]l6Ën] Adequate
Assurance on the Management Quality nfO{ hgfpF5 . of] ;g\ @)@) l8;]Da/ @@ df k|fKt ePsf] / o;sf] a}wtf Ps aif{ /xg]5 .
&= sf]if ;'kl/j]Ifs tyf sf]if ;'kl/j]Ifs;Fusf]] ;Demf}tf ;DaGwL ljj/0fM
&=! sf]if ;'kl/j]Ifssf] gfd, 7]ufgf, pd]/ tyf of]Uotf
qm=;+= Gffd 7]ufgf pd]/ of]Uotf

 l;=P –OlG:6Ro'6 ckm rf6{8{
al/i7 l;=P= lty{/fh nfnsf]nf]lg dfu{, nfnb/af/,
! ^( PsfpG6]G;, OlG8of
pkfWofo sf7df08f} .
 :gfts, sd;{ -lqe'jg ljZjljBfno_
/fdsf]6, km:s', gfufh{'g
@ 8f= x]dGt s'df/ bjfl8
gu/kflnsf, sf7df08f} .
^@  lk=Pr=l8 l/hgn KnflgË tyf
30
k|f]u|fdLË
 Pd=P;=l; cfly{s of]hgf ,d'Vo
laifoMcfly{s l;4fGt, of]hgf, ul0ft,
tYofÍzf:q -d:sf]_
# >L Vofd gf/fo0f 9sfn ;fgf]e¥ofË, sf7df08f} . %(  Pd=la=P -lqe'jg ljZjljBfno_
$ >L nlnt axfb'/ a:g]t wfkfl;, sf7df08f} . $^  Pn=Pn=Pd -;+a}wflgs sfg'g_
Pd=lk=P, Pd=P
% >L dfwa k|;fb 9sfn
>L/fd dfu{, alQ;k'tnL,
^^  :gftsf]Q/– cy{zf:q, :gfts– sfg"g
sf7df08f} . -lqe'jg ljZjljBfno_
&=@ sf]if ;'kl/j]Ifssf] Joj;flos cg'ej, d'Vo k]zf÷Joj;fo tyf xfn sfod /x]sf] lhDd]jf/L
qm=;+= Gffd Jofj;flos cg'ej d'Vo xfn sfod /x]sf] lhDd]jf/L

k]zf÷Joj;fo
n]vfk/LIf0f, ljQ tyf Aoa:yfkgsf] l6=cf/ pkfWofo P08
al/i7 l;=P rf6{8{
!= If]qdf ## aif{ eGbf al9sf] sfo{ sDklg rf6{8{ PsfpG6\;
lty{/fh pkfWofo PsfpG6]G6;\
cg'ej . kmd{sf] k|d'v ;fem]bf/
g]kfn pBf]u afl0fHo dxf;+3df
gfoa k|aGws kbdf nfdf] ;do
sfo{ u/]sf] cg'ea . ;/sf/sf] cy{,
afl0fHo tyf pBf]u dGqfno;Fu
8f= x]dGt s'df/ ;DalGwt cfly{s lglt lgwf{/0fdf ;d[l4 kmfpG8];gdf l;lgo/
@= cy{lab\
bjfl8 ;Nnfxsf/sf] e'ldsf . ;d[l4 km]nf] sf] ¿kdf sfo{/t
kmfpG8]zgdf l;lgo/ km]nf]sf] ¿kdf
sfo{/t, jN8{ a}+sdf ;Nnfxsf/sf]
cg'ej, /fli6«o of]hgf cfof]udf
;Nnfxsf/sf] cg'ej .
g]kfn /fi6« a}+sdf @& aif{eGbf
>L Vofd gf/fo0f ;]jf lgj[t tyf
#= al9sf] sfo{ cg'ej, sfo{sf/L a}lsË
9sfn ;dfh;]jfdf ;+nUg
lgb]{zs kbaf6 xfn ;]jf lgj[t .
k|]l;8]G6 n kmd{sf] ;+:yfks, sfg'gL
;Nnfxsf/ g]kfn a}s lnld6]8,
g]kfn OGe]i6d]G6 a}+s lnld6]8,
>L nlnt axfb'/ sfg'g
$= Unf]an cfOPdO{ a}+s, /]l8of] g]kfn, Aoj;flos clwjQmf
a:g]t Aoa;fo
k'j{ /fi6«klt /fda/0f ofbjsf]
dlGq:tl/o sfg'gL ;Nnfxsf/ tyf
lglh ;lrj .
cy{dGqfno cGtu{t a}b]lzs
;xfotf ;dGjo dxfzfvfdf !%
aif{eGbf al9sf] cg'ea, pRr:tl/o lghfdlt ;]jf
>L dfwa k|;fb k/fdz{bftf
%= s/ k|0ffnL k'g/fjnf]sg cfof]udf af6 casfz
9sfn
;b:o, nf]s;]jf cfof]u, ko{6g tyf k|fKt
gful/s p•og dGqfnodf
;x;lrjsf] ¿kdf sfo{ cg'ej .
&=# of]hgf ;DaGwdf sf]if ;'kl/j]Ifssf] e"ldsf

k|rlnt sfg'gsf] cwLgdf /xL of]hgf ;~rfng ug{ of]hgfsf] ljj/0f k'l:tsfsf] cWoog u/L l:js[ltsf nflu k7fpg
cg'df]bg ug]{, of]hgf Joj:yfksn] k|rlnt sfg'g tyf ;D´f}tf adf]lhd sf]ifsf] Joj:yfkg u/]sf] 5 eGg] s'/f
31
;'lglZrt ug]{, ;xefuLsf] lxt ;+/If0f ug]{, of]hgf Joj:yfks tyf l8kf]lh6/Lsf] sfd sf/jfxLsf] ;'kl/j]If0f ug]{,
of]hgfsf] v'b ;DklQ d"Nosf] hfFr ug]{, of]hgf cGtu{tsf ;DklQ tyf sfuhftx? ;'/lIft;fy /flvP g/flvPsf]
;'kl/j]If0f ug]{, af]8{af6 :jLs[t of]hgf adf]lhd of]hgf ;~rfng eP gePsf] ;'kl/j]If0f ug]{, of]hgf Joj:yfksn]
/fv]sf] clen]v b'?:t /x] g/x]sf] ;'kl/j]If0f ug]{, of]hgf ;DaGwdf k|fKt u'gf;fx? ;dfwfg eP gePsf] ;'kl/j]If0f
ug]{, of]hgf Joj:yfkg ;DaGwL k|ltj]bg tof/ u/L ;do ;dodf af]8{df k]z ug]{, of]hgf Joj:yfks;Fu of]hgf
Joj:yfksn] u/]sf] sfd sf/jfxLaf/] s'g} ljj/0f jf hfgsf/L dfu ug{ ;Sg], dfu ul/Psf] ljj/0f jf hfgsf/Laf6 jf
cGo s'g} >f]taf6 of]hgf Joj:yfkssf] sfd sf/jfxLdf clgoldttf b]lvPdf jf sfd sf/jfxL ;Gtf]ifhgs gb]lvPdf
To:tf] sfd sf/jfxL /f]Sg jf ;Gtf]ifhgs ?kdf ;Dkfbg ug{ of]hgf Joj:yfksnfO{ lgb]{zg lbg ;Sg], lbOPsf] lgb]{zg
of]hgf Joj:yfksn] kfngf gu/]df ;f]sf] hfgsf/L af]8{nfO{ lbg], of]hgf Joj:yfksn] P]g jf lgodfjnLsf] pNnª\3g
u/]df jf cfkm\gf] lgb]{zg af/Daf/ pNnª\3g u/]df of]hgf Joj:yfks kl/jt{g ug]{ cfb]z hf/L ug{ af]8{nfO{ cg'/f]w ug{
;Sg] nufotsf] e"ldsf sf]if ;'kl/j]Ifsaf6 lgjf{x x'g]5 .
&=$ sf]if k|a4{s / sf]if ;'kl/j]IfsaLrsf] ;Demf}tfsf d'Vo d'Vo a'Fbfx? M

!= sf]if k|a4{snfO{ of]hgf Aoa:yfks tyf lgIf]ks -Depository_ lgo'Qm ug{ ;xdlt k|bfg ug]{ .
@= OsfO{wgLx?sf] lxtnfO{ ;af]{kl/ /fvL sfo{ ug]{ .
#= sf]if k|a4{s tyf sf]if ;'kl/j]Ifsn] lgodfjnLsf] cwLgdf /xL Jofj;flos 9Ën] cfkm\gf] bfloTj lgjf{x ug]{ .
$= of]hgf Aoa:yfksn] k|rlnt sfg'g tyf ;Demf}tfsf] kl/lwleq /x]/ sf]ifsf] k|of]u u/]sf] 5 5}g ;'lgZrttf ug]{ .
%= of]hgf Aoa:yfks tyf lgIf]kssf] ;'kl/a]If0f ug]{ .
^= OsfO{sf] v'b g]6jy{sf] kl/If0f ug]{ .
&= OsfO{ cGtu{tsf] ;DklQ tyf dxTjk'0f{ sfuhftsf] ;'/Iffsf] ca:yfsf] af/]df ;'kl/a]If0f ug]{ .
*= lwtf]kq jf]8{af6 kfPsf] cg'dlt cg';f/ OsfOsf] ;~rfng ePsf] 5 5}g ;'kl/a]If0f ug]{ .
(= of]hgf Aoa:yfksn] cBfjlws ¿kdf clen]v /fVg] u/]sf] 5 5}g ;'kl/a]If0f ug]{ .
!)= OsfO{ xf]N8/x?af6 cfPsf] u'gf;f]x? oyf;So ;dodf ;dfwfg ePsf] 5 5}g To;sf] af/]df cg'udg ug]{ .
!!= sf]if Aoj:yfkg ;DaGwdf ;do ;dodf k|lta]bg k]; ug]{ .
!@= sf]if ;'kl/j]Ifsn] o; of]hgfnfO{ ;'kl/j]If0f u/] jfkt of]hgfsf] v'b ;DklQ d"Nosf] clwstd )=!)Ü ;]jf
z'Ns jflif{s ?kdf lgodfjnLdf ePsf] Joj:yf jdf]lhd k|fKt ug]{ / To:tf] k|fKt z'Nssf] %Ü /sd sf]if
;'kl/j]Ifsn] af]8{df cfkm'n] k|fKt u/]sf] b'O{ dlxgfleq hDdf ug'{kg]{ .
!#= ;fd'lxs nufgL sf]if lgodfjnL @)^&, ;f]sf] ;do ;dodf x'g] ;+zf]wg tyf g]kfn lwtf]kq af]8{n] tf]lslbP
adf]lhd cGo bfloTj lgaf{x ug]{ .
!$=sf]if ;'kl/a]Ifsn] k|fKt ug]{ ;]jf z'Ns x/]s cf=a sf] ^ dlxgf sf] cGtdf u0fgf ePsf] OsfO{sf] v'b ;DklQ
d'Nosf] cfwf/df lgwf{/0f x'g]5 . cyjf o;sf] ljsNksf] ¿kdf cfkl; ;xdltdf l:y/ ;]jf z'Ns klg lgwf{/0f ug{
;lsg]5 . o:tf] l:y/ ;]jf z'Ns sf]if k|a4{sn] lgwf{/0f ug]{5 .
!%= sf]if ;'kl/a]Ifsn] k|fKt ug]{ ;]jf z'Nsdf k|rlnt lgodcg';f/ s/ nfUg]5 .
!^= ;Demf}tfsf] cjlw ;Demf}tf ePsf] ldlt af6 of]hgf sfod ePsf] jif{;Dd /xg]5 t/ Ps kIfn] csf]{ kIfnfO{
tf]lsPsf] ;dofjlweGbf klxn] ;Demf}tf vf/]h ug{ #% lbgsf] lnlvt k"j{ hfgsf/L u/fPdf ;Demf}tf /2 ug{
;Sg]5 .
!^= sf]if ;'kl/j]Ifsn] #% lbgsf] k"j{ lnlvt hfgsf/L sf]if k|a4{snfO{ lbO{ ;Demf}tf /2 ug{ ;Sg] . t/ cfˆgf] k'j{
sfdsf] lhDd]jf/Lsf] hjfkmb]lxtf sfod /xg]5 .
!&= b'a} kIfn] of]hgf;Fu ;Dj4 ;"rgf tyf hfgsf/Lsf] uf]kgLotf k|rlnt lgod sfg'gn] dfu u/]adf]lhd afx]s
uf]Ko /fVg'kg]{5 .
!*= ;Demf}tfkqdf pNn]v ePsf zt{x? af]8{sf] k"j{:jLs[lt lnP/ dfq b'j} kIfsf] cfk;L ;dembf/Ldf ;+zf]wg x'g
x'g;Sg]5 . ;Demf}tfsf] ;Gbe{df s'g} ljjfb pTkGg ePdf cfk;L ;xdltdf lg/f]k0f ul/g]5 . olb cfk;L
;xdltdf lg/f]k0f x'g g;s]df dWo:ytf P]g @)%%-!(((_ cg'';f/ dWo:ytf lgo'Qm ul/ lg/f]k0f ul/g]5 .
* of]hgf ;DaGwL hfgsf/L M
*=! of]hgf ;DaGwL ljj/0f
s of]hgfsf] gfd ;flgdf Nffh{ Sofk km08 (Sanima Large Cap Fund)
v of]hgfsf] cfsf/ ?= !,)),)),)),))).– -Ps ca{ _
!=
u of]hgfsf] k|sf/ aGbd'vL (Close-end)
32
s lgisfzg ug{ nfluPsf] OsfO{ ;+Vof !),)),)),))) -bz s/f]8_
v k|lt OsfO{ d"No ?= !).– -cIf/]kL bz_
u Go"gtd laqmL x'g'kg]{ OsfO{ ;+Vof %,)),)),))) -kfFr s/f]8_
3 clwstd ;sfl/g] OsfO{ ;+Vof !@,%),)),))) -afx| s/f]8 krf; nfv_ OsfO{
ª of]hgfsf] cjlw & jif{
@= r of]hgf kl/kSj x'g] ldlt of]hgfsf] OsfO{ afF8kmfF8 ePsf] ldltn] & jif{ .
5 ;"lrs/0f tyf bf];|f] ahf/ sf/f]jf/ OsfO{x? g]kfn :6s PS;r]~h lnld6]8df ;"lrs[t u/L
Joj:yf sf/f]jf/sf] Joj:yf ul/g] .
h of]hgfsf] btf{ tyf x:tfGt/0f ug{ of]hgf Joj:yfks sDkgLn] g} l8kf]lh6/Lsf] sfo{ ug]{ . ;f]
lgo'Qm l8kf]lh6/Lsf] gfd / 7]ufgf sfo{ sDkgLsf] k'tnL;8s l:yt sfof{noaf6 k|bfg ul/g] .
*=@ of]hgfsf] p2]Zo M

OsfO{ laqmLaf6 ;+slnt /sd of]hgf Joj:yfksn] bIftfk"j{s of]hgfn] tf]s]sf] nufgLsf If]qx?df nufgL u/L
cfj]bsx?nfO{ pRr k|ltkmn lbO{ lwtf]kq ahf/sf] lbuf] ljsf;df ;d]t Ps ;+:yfut nufgLstf{sf] x}l;otdf ;3fp
k'¥ofpg] p2]Zon] o; of]hgfsf] OsfO{x? lgisfzg ul/Psf] xf] .
*=# of]hgfn] nufgL ug]{ If]q M

;fd'lxs nufgLsf]if lgodfjnL @)^& sf] cwLgdf /xL of]hgfsf] /sd b]xfo adf]lhd nufgL x'g]5 M
!= af]8{df btf{ ePsf] lwtf]kq, ;fj{hlgs lgisfzg ePsf lwtf]kq, lwtf]kq ljlgdo ahf/df ;'lrs[t ePsf
lwtf]kqx?df M () k|ltzt;Dd .
@= g]kfn ;/sf/n] hf/L u/]sf] jf g]kfn ;/sf/sf] hdfgt jf k"0f{ ;'/lIft x'g] u/L ;/sf/L :jfldTj jf lgoGq0fdf
/x]sf] s'g} ;+:yf jf g]kfn /fi6« a}+sn] hf/L u/]sf] C0fkq, 6«]h/L ljn tyf d'b|f ahf/sf pks/0fx? tyf a}+s d'4tL
lgIf]kdf M !% k|ltzt;Dd .
#= af]8{af6 :jLs[tL lnO{ nufgL ul/g] cGo If]qx?df M af]8{af6 :JfLs[tL k|fKt eP cg'?ksf k|ltztdf .
b|i6JoM pNn]lvt If]qdf nufgL ubf{ lgodfjnLsf] Joj:yfnfO{ dWogh/ u/L k|ltkmnsf] cfwf/df Ps If]qsf] nufgLnfO{
cGo If]qsf] nufgLdf ;fg{ ;lsg]5 .
ljb]zdf nufgL ug]{ eP ;f] ;DaGwL Joj:yf M

o; of]hgfsf] /sdnfO{ xfn ljb]zdf nufgL ug]{ s'g} of]hgf g/x]sf] ePtfklg eljiodf pknAw cj;/sf] cWoog
u/L lgofds lgsfoaf6 cfjZos :jLs[lt lnO{ lgodfjnLsf] Joj:yf adf]lhd ljb]zdf nufgL ug{ ;lsg] .
*=$ of]hgfsf] laQLo k|If]k0f;DaGwL ljj/0fM

s= jf;nft - /sd ?=_
ljj/0f aif{ ! aif{ @ aif{ # aif{ $ aif{ % aif{ ^ aif{ &
;DklQ
nufgL 848,470,350 1,021,465,295 1,217,874,158 1,372,475,980 1,597,201,102 1,837,788,937 1,870,345,421
rfn' ;DklQ 284,452,269 283,888,434 188,090,343 170,248,854 148,104,420 121,403,351 105,652,357
s'n ;DklQ 1,132,922,619 1,305,353,729 1,405,964,501 1,542,724,835 1,745,305,522 1,959,192,288 1,975,997,779
bfloTj
OsfO{ k'\"FhL 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000
hu]8f sf]if 121,939,586 192,655,959 272,234,178 387,689,963 568,288,981 760,211,364 956,985,127
Rffn' bfloTj 10,983,034 112,697,770 133,730,323 155,034,872 177,016,541 198,980,924 19,012,652
s'n bfloTj 1,132,922,619 1,305,353,729 1,405,964,501 1,542,724,835 1,745,305,522 1,959,192,288 1,975,997,779
33
v= gfkmf gf]S;fg lx;fa - /sd ?=_
aif{ ! aif{ @ aif{ # aif{ $ aif{ % aif{ ^ aif{ &
laj/0f
cfo
Aofh cfo
15,896,400.00 12,741,770.83 13,626,564.00 14,542,791.84 10,542,581.53 11,799,607.94 23,775,577.39
gub nfef+;
20,864,025.00 29,730,798.60 34,066,410.00 36,356,979.61 42,170,326.12 44,248,529.77 39,625,962.32
jf]g; z]o/ lalqmaf6 cflh{t
11,922,300.00 14,865,399.30 12,774,903.75 36,356,979.61 42,170,326.12 44,248,529.77 39,625,962.32
gfkmf÷lalqmdf gf]S;fg÷lkmtf{
44,708,625.00 66,894,296.84 85,166,025.01 109,070,938.83 147,596,141.43 132,745,589.32 126,803,079.41
sn vftfsf] lgIf]kaf6 k|fKt Aofh
4,740,240.09 8,692,078.09 6,820,259.25 5,834,706.42 5,665,001.99 6,976,615.70 9,316,707.61
hDdf cfo
98,131,590.09 132,924,343.65 152,454,162.02 202,162,396.31 248,144,377.20 240,018,872.50 239,147,289.04
vr{
aflif{s Aoa:yfkg z'Ns

16,678,982.94 19,216,887.40 20,697,237.53 22,710,950.89 25,693,096.84 28,843,578.25 29,092,940.43
aflif{s ;'kl/a]Ifs z'Ns
1,111,932.20 1,281,125.83 1,379,815.84 1,514,063.39 1,712,873.12 1,922,905.22 1,939,529.36
lgIf]ks z'Ns
2,223,864.39 2,562,251.65 2,759,631.67 3,028,126.78 3,425,746.25 3,845,810.43 3,879,058.72
lwtf]kq bnfln z'Ns
2,980,575.00 3,716,349.82 4,258,301.25 4,544,622.45 5,271,290.77 5,531,066.22 4,953,245.29
n]vfkl/Ifs z'Ns
150,000.00 150,000.00 150,000.00 165,000.00 165,000.00 165,000.00 181,500.00
;'rLs/0f tyf l8Dof6 z'Ns
450,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
l:sd btf{ z'Ns
1,000,000.00 - - - - - -
;'rgf k|sfzg tyf k|rf/k|;f/
z'Ns 250,000.00 275,000.00 302,500.00 332,750.00 366,025.00 402,627.50 442,890.25
sfg'gL z'Ns
72,000.00 79,200.00 87,120.00 95,832.00 105,415.20 105,415.20 105,415.20
lgisfzg z'Ns
4,925,000.00 - - - - - -
s'n vr{
29,842,354.52 27,480,814.70 29,834,606.28 32,591,345.52 36,939,447.17 41,016,402.82 40,794,579.26
v'b art÷-Go'g_
68,289,235.57 105,443,528.95 122,619,555.73 169,571,050.80 211,204,930.02 199,002,469.68 198,352,709.78
v'b pknAw art 68,289,235.57 105,443,528.95 122,619,555.73 169,571,050.80 211,204,930.02 199,002,469.68 198,352,709.78
nfefFz ljt/0f÷gub ljt/0f - 100,000,000.00 120,000,000.00 140,000,000.00 160,000,000.00 180,000,000.00 -
v'b art÷-Go'g_ 68,289,235.57 5,443,528.95 2,619,555.73 29,571,050.80 51,204,930.02 19,002,469.68 198,352,710
v'b gfkmf ÷-gf]S;fg_ ;lGrtL

68,289,235.57 73,732,764.52 76,352,320.25 105,923,371.05 157,128,301.07 176,130,770.75 374,483,481
nfefF; ljt/0f k|ltzt
0.00% 10.00% 12.00% 14.00% 16.00% 18.00% 0%
u= gub k|jfx ljj/0f - /sd ?=_

laj/0f aif{ ! aif{ @ aif{ # aif{ $ aif{ % aif{ ^ aif{ &
;~rfng ultlalwaf6 k|fKt gub
k|afx
98,131,590.09
cfDbflgaf6 k|fKt gub 132,924,343.65 152,454,162.02 202,162,396.31 248,144,377.20 240,018,872.50 239,147,289.04
(29,842,354.52)
gub e'Qmflg (27,480,814.70) (29,834,606.28) (32,591,345.52) (36,939,447.17) (41,016,402.82) (40,794,579.26)
cfos/ e'Qmflg - - - - - - -
sfo{lzn k'FhLdf kl/at{g x'g'cl3
;~rfng ultlalw af6 k|fKt gub 68,289,235.57 105,443,528.95 122,619,555.73 169,571,050.80 211,204,930.02 199,002,469.68 198,352,709.78
k|afx
34
(9,133,260.02)
rfn' ;DklQdf a[l4÷-sld_ 589,355.09 25,558.12 (211,725.71) 2,042,531.27 (956,416.63) (6,573,007.70)
10,983,033.51
rfn' bfloTjdf a[l4÷-sld_ 1,714,736.38 1,032,552.94 1,304,548.82 1,981,669.20 1,964,383.34 31,727.76
sfo{ ;~rfngaf6 k|fKt gub k|jfx 70,139,009.06 107,747,620.42 123,677,666.79 170,663,873.90 215,229,130.49 200,010,436.38 191,811,429.84
-s_
nuflg ultlalw af6 k|fKt gub
k|jfx
(794,820,000.00)
lwtf]kqdf nfuflg a[l4÷-sld_ (107,722,100.23) (119,450,199.84) (68,717,088.22) (95,331,033.94) (67,667,921.34) (34,135,431.71)
l:y/ ;DklQdf a[l4÷-sld_ - - - - - - -
nuflg ultlalw af6 k|fKt gub

k|jfx -v_ (794,820,000.00) (107,722,100.23) (119,450,199.84) (68,717,088.22) (95,331,033.94) (67,667,921.34) (34,135,431.71)
laQLo ultlalw af6 k|fKt gub

k|jfx
z]o/ k'FhLdf a[l4÷-sld_ 1,000,000,000.00 - - - - - -
(140,000,000.0 (160,000,000.00 (180,000,000.00
nfefFz lat/0f - - (100,000,000.00) (120,000,000.00) 0) ) )
laQLo ultlalw af6 k|fKt v'b gub 1,000,000,000.00 - (100,000,000.00) (120,000,000.00) (140,000,000.00) (160,000,000.00) 180,000,000.00
k|jfx -u_
275,319,009.06 25,520.19 (95,772,533.06) (18,053,214.32) (20,101,903.45) (27,657,484.96) (22,324,001.87)
rfn' aif{sf] v'b gub k|jfx
-
gub tyf a+}sdf /x]sf z'? df}Hbft 275,319,009.06 275,344,529.24 179,571,996.19 161,518,781.87 141,416,878.42 113,759,393.46
gub tyf a}sdf /x]sf]] clGtd 275,319,009.06

df}Hbft 275,344,529.24 179,571,996.19 161,518,781.87 141,416,878.42 113,759,393.46 91,435,391.59
jf;nftdf ePsf] gub df}Hbft 275,319,009.06 275,344,529.24 179,571,996.19 161,518,781.87 141,416,878.42 113,759,393.46 91,435,391.59
3= k|lt OsfO v'b ;DklQ d"Nosf] u0fgf tyf ljQLo cg'kft ;DaGwL ljj/0f - /sd ?=_
laj/0f aif{ ! aif{ @ aif{ # aif{ $ aif{ % aif{ ^ aif{ &
nuflg 848,470,350 1,021,465,295 1,217,874,158 1,372,475,980 1,597,201,102 1,837,788,937 1,870,345,421

Rffn' ;DklQ 284,452,269 283,888,434 188,090,343 170,248,854 148,104,420 121,403,351 105,652,357
s'n ;DklQ 1,132,922,619 1,305,353,729 1,405,964,501 1,542,724,835 1,745,305,522 1,959,192,288 1,975,997,779
rfn' bfloTa 975,644 101,167,637 121,311,980 141,408,301 161,600,683 181,674,777 1,556,888
sf]if
Joj:yfkg
z'Ns,
;'kl/j]Ifs
z'Ns tyf
l8kf]hL6/L
z'Nscl3sf]
v'b ;DklQ
d"No 1,131,946,975 1,204,186,091 1,284,652,520 1,401,316,534 1,583,704,839 1,777,517,511 1,974,440,891
aflif{s sf]if
Joa:yfkg
z'Ns 16,678,983 19,216,887 20,697,238 22,710,951 25,693,097 28,843,578 29,092,940
aflif{s
;'kl/a]Ifs
z'Ns 1,111,932 1,281,126 1,379,816 1,514,063 1,712,873 1,922,905 1,939,529
aflif{s
l8kf]hL6/L
z'Ns 2,223,864 2,562,252 2,759,632 3,028,127 3,425,746 3,845,810 3,879,059
cw{aflif{s
sf]if
Joa:yfkg
z'Ns 8,339,491 9,608,444 10,348,619 11,355,475 12,846,548 14,421,789 14,546,470
35
cw{aflif{s
;'kl/a]Ifs
z'Ns 555,966 640,563 689,908 757,032 856,437 961,453 969,765
cw{aflif{s
l8kf]hL6/L
z'Ns 1,111,932 1,281,126 1,379,816 1,514,063 1,712,873 1,922,905 1,939,529
OsfO{ ;+Vof 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000
v'b ;DklQ
d"No 1,121,939,586 1,192,655,959 1,272,234,178 1,387,689,963 1,568,288,981 1,760,211,364 1,956,985,127
k|lt OsfO{
v'b ;DklQ
d"No 11.22 11.93 12.72 13.88 15.68 17.60 19.57
k|lt PsfO v'b ;DklQ d'No 11.22 11.93 12.72 13.88 15.68 17.60 19.57
nfefFz k|ltzt 0.00% 10.00% 12.00% 14.00% 16.00% 18.00% 0.00%
aflif{s nufgL k|ltkmn (ROI) 12.19% 16.30% 18.67% 23.08% 29.01% 30.24% 11.18%
;lGrt k'Flhut nfe 12.19% 19.27% 27.22% 38.77% 56.83% 76.02% 95.70%
aflif{s k'FhLut nfe -nfefFz afx]s_ 12.19% 6.30% 6.67% 9.08% 13.01% 12.24% 11.18%
z'? nuflgdf k|fKt aflif{s k|ltkmn 12.19% 29.27% 39.22% 52.77% 72.83% 94.02% 95.70%
of]hgf Joj:yfksn] tof/ u/]sf] dflysf] k|If]k0f lh=lk=/fhafxs P08 sDklg rf6{8{ Psfp06]06sf l;=P=cz]if /fhafxs
af6 k|dfl0ft ePsf] 5 .
ª= ljQLo k|If]k0fsf cfwf/x? M
!= of]hgfsf] ;DklQsf] afF8kmfF8
ljj/0f jif{ ! jif{ @ jif{ # jif{ $ jif{ % jif{ ^ jif{ &

l:y/ cfo x'g] If]q* 20.00% 15.00% 15.00% 15.00% 10.00% 10.00% 18.00%
;fwf/0f z]o/ 60.00% 70.00% 75.00% 75.00% 80.00% 75.00% 60.00%
a}+s rNtL vftf 20.00% 15.00% 10.00% 10.00% 10.00% 15.00% 22.00%
hDdf 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

* l:y/ cfo If]q eGgfn] a}+s tyf ljQLo ;+:yfsf] d'2tL lgIf]kdf ul/g] nufgL, s]lGb|o a}saf6 hf/L ul/g] cNksfnLg tyf lb3{sfnLg
k|s[tLsf] C0fkqdf ul/g] nufgL, ;+ul7t ;+:yfn] lgisfzg ug]{ C0fkq tyf af]08df ul/g] nufgL nfO{ ;Demg'kb{5 .
** nufgL] If]qsf] klxrfg lwtf]kqaf]8{n] hf/L u/]sf] lgodfjnL tyf lgb]{lzsf adf]lhd x'g]5 .
@= z'Ns tyf vr{x? -of]hgf lgisfzg tyf lgoldt_

 of]hgf btf{ z'Ns -of]hgfsf] )=)!Ü jf Go'gtd ¿ %,)),)))_ M ?=!),)),))) .
 lgisfzg tyf laqmL k|aGws z'NsM of]hgfsf] s'n lgisflzt /sdsf]] )=@%Ü cyf{t ¿
@%,)),))).–
 of]hgf lgisfzgsf] qmddf ul/g] lj1fkg M !&,%),))) .
 a|f]s/ z'Ns M sf/f]af/ ul/g] lwtf]kq d'Nosf] )=%)Ü cg'dflgt jf k|rlnt lgodfg';f/ x'g]ul/ .
 n]vfk/LIf0f z'Ns M klxnf] jif{ ?=!,%),)))÷— / x/]s ltg jif{df !)Ü n] a[l4 ul/g] .
36
 lgoldt ;"rgf k|sfzg z'Ns M aflif{s ?=@,%),)))÷— / x/]s jif{df !)Ü n] a[l4 ul/g] .
 sfg'gL k/fdz{ z'Ns M klxnf] jif{ ?=&@,)))÷— / x/]s jif{df !)Ü n] a[l4 ul/g] .
 ;ˆ6j]o/ nufot cGo vr{ M !,)),)))÷–
#= k|If]lkt k|ltkmn
ljj/0f jif{ ! jif{ @ jif{ # jif{ $ jif{ % jif{ ^ jif{ &
l:y/ cfo* 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00%
z]o/M 5.50% 6.00% 5.50% 8.00% 8.00% 8.00% 8.00%
gub nfef+z 3.50% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
Aff]gz z]o/ 2.00% 2.00% 1.50% 4.00% 4.00% 4.00% 4.00%
sn lgIf]kdf Aofh cfDbfgL M 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
cflh{t k"FhLut gfkmf÷-gf]S;fg_ 15% 18% 20% 24% 28% 30% 32%
;+lrt (Cumulative) cflh{t
x'g afFsL k"FhLut gfkmf÷
-gf]S;fg_ 18% 32% 46% 62% 78% 88% 98%
* l:y/ cfo eGgfn] a}+s tyf ljQLo ;+:yfsf] d'2tL lgIf]kdf ul/g] nufgL, s]lGb|o a}saf6 hf/L ul/g] cNksfnLg tyf lb3{sfnLg
k|s[tLsf] C0fkqdf ul/g] nufgL, ;+ul7t ;+:yfn] lgisfzg ug]{ C0fkq tyf af]08df ul/g] nufgL nfO{ ;Demg'kb{5 .
$= kfpg'kg]{ tyf e'QmfgL ug'{kg{]
 rfn' ;DklQ M dfu tyf cNk ;"rgfdf k|fKt x'g] Aofh cfDbfgL q}dfl;s ¿kdf u0fgf ul/Psf] tyf l:y/ nufgLdf
k|fKt Jofh cfDbfgL cw{ jflif{s ¿kdf u0fgf ul/Psf] .
 rfn' bfloTj M of]hgf Joj:yfkg z'Ns, l8kf]hL6/L z'Ns tyf ;'kl/j]If0f z'Ns cw{jflif{s ¿kdf e'QmfgL ul/g] tyf
laljw ;fx' -qm]l86;{_ sfg'gL ;]jf z'Ns tyf bnfnL z'Ns q}dfl;s ?kdf e'QmfgL ul/g] .
%= s/ ;DaGwL Joj:yf
;fd"lxs nufgL sf]ifnfO{ s/ 5'6sf] Joj:yf eP cg';f/ of]hgfn] cfh{g u/]sf] d'gfkmfdf s/ gnfUg] .
*=% of]hgfsf] vr{;DaGwL ljj/0f

of]hgfsf] vr{ ;DaGwL ljj/0f b]xfo cg';f/ /x]sf] 5 M
-s_ of]hgf lgisfzgsf nflu ul/g] vr{ M
lgodfjnLsf] Joj:yf jdf]lhd af]8{df of]hgf btf{ ug]{ z'Ns of]hgf /sdsf] )=)! k|ltzt jf Go"gtd !) nfv
x'g], qm]l86 /]l6Ë, ;"rgf k|sfzg, cfj]bg ;+sng, k|zf]wg tyf lkmtf{ e'QmfgL, z]o/sf] l8Dof6, OsfO{sf] afF8kmfF8,
of]hgfsf] k|rf/ k|;f/ tyf lgisfzg;Fu cfj4 cGo vr{ .
-v_ of]hgfsf] lgoldt vr{ M
!=nufgL Joj:yfkg z'NsM v'b ;DklQ d"Nosf] aflif{s !=% k|ltzt .

@=sf]if ;'kl/j]Ifs -;d"x_ z'NsM ljj/0f k'l:tsfsf] a'Fbf &=$-*_ df tf]lsPsf] z'Nssf] clwgdf /lx o; of]hgfsf
nflu v'b ;DklQ d"Nosf] aflif{s )=!) k|ltzt .
#=l8kf]lh6/L z'NsM v'b ;DklQ d"Nosf] aflif{s )=@) k|ltzt .
$=;"rLs/0f tyf gljs/0f z"Ns M g]kfn :6s PS;r]~h lnld6]8n] tf]s] jdf]lhd .
%=n]vf kl/If0f, k|rlnt sfg"g adf]lhdsf] ;"rgf k|sfzg, sfg"gL vr{, z]o/ sf/f]af/df a|f]s/ sldzg, cGo
hfgsf/L tyf k|ltj]bg k|sfzg -jf:tljs cfwf/df_ .
^=of]hgfn] s/ ltg'{kg]{ cj:yfdf To:tf] s/ tyf l;l8P; (CDS) df btf{ z"Ns .
&=of]hgf;+u ;DjlGwt cGo e}k/L cfpg] vr{ .
af]8{n] tf]s]sf] cj:yfdf jfx]s pko'{Qm lzif{ssf cltl/Qm cGo zLif{sdf vr{ hgfO{g] 5}g . vr{ hgfpg'kg]{
cj:yf cfPdf af]8{sf] k"j{ :jLs[lt lnO{g]5 .
37
*=^ of]hgfsf] d'gfkmf ljt/0fsf] nIoM
of]hgfsf] n]vfk/LIf0f kZrft\ cfPsf] v'b ljt/0fof]Uo d'gfkmfsf] lx;fjn] OsfO{sf] cª\lst d"Nosf] cfwf/df x/]s
cfly{s aif{df Ps jf ;f] eGbf a9L k6s d'gfkmf ljt/0f ul/g]5 . ;l~rt d'gfkmf (Retained Earning) k'gM
nufgL ul/g]5 .
*=& nufgL tyf nfef+zsf ;DaGwdf nfu" x'g] s/ ;DaGwL Joj:yf M

k|rlnt sfg'gn] lgwf{/0f u/] adf]lhd x'g]5 .
*=* of]hgfsf O{sfO csf]{ of]hgfdf x:tfGt/0f x'g]÷gx'g] s'/f / x'g] ePdf ;f]sf] k|lqmof M
of]hgfsf OsfO{x? of]hgfsf] cjlw ;dfKt x'Fbf ahf/ k|lts'n ePsf] cj:yfdf afx]s cGo cj:yfdf s'g} csf]{
of]hgfdf x:tfGt/0f x'g] 5}g . of]hgfsf] cjlw ;dfKt x'g' eGbf s]xL ;do cl3b]lvg} of]hgfsf] ;DklQ ljqmL ug]{
sfo{ z'? u/L gubdf kl/0ft ul/g]5 / of]hgfsf] cjlw ;dfKt ePkl5 OsfO{wgLx?nfO{ ;dfg'kflts lx;fan]
k|rlnt sfg"g adf]lhd ljt/0f ul/g]5 . s'g} sf/0fa; jf of]hgfsf] cjlw ;dfKtx'Fbf ahf/ k|lts'n ePsf]
cj:yfdf of]hgfsf] ;DklQ gubdf kl/0ft x'g g;Sg] cj:yf cfPdf of]hgf Aoj:yfksn] af]8{ / sf]if
;'kl/j]Ifssf] l:js[lt lnO{ o; of]hgfnfO{ gofF of]hgfdf kl/0ft u/L ;xefuLx?nfO{ gofF of]hgfsf] OsfO{ ljt/0f
ug{ ;lsg]]5 . obL sf]xL ;xefuLn] gofF of]hgfsf] OsfO{ lng grfx]df of]hgf Joj:yfksn] To:tf] ;xefuLnfO{
lghsf] OsfO{sf] :jfldTjsf] cg'kftdf gub e'QmfgL ug]{ Joj:yf ldnfpg ;lsg]5 .
*=( v'b ;DklQ d"No u0fgf tyf ;f]sf] k|sfzg;DaGwL Joj:yfM
-s_ v'b ;DklQ d"No u0fgf ug{] ljlw M
k|lt OsfO{ v"b ;DklQ d"No -g]6 P;]6 EofNo'_ sfod ubf{ of]hgfsf] d"NofÍg ug]{ ldltdf sfod /x]sf] ;Dk"0f{
;DklQnfO{ s'n OsfO{ ;ª\Vofn] efu u/L k|lt OsfO{ v"b ;DklQ d"No sfod ul/g]5 . v"b ;DklQ d"NofÍg ug]{
;"q b]xfo adf]lhd x'g]5 M
d"NofÍg ldltdf nufgLsf] d"No ± k|fKt x'g afFsL k|ltkmn jf cfo tyf cGo /sdx? —
ltg{ afFsL bfloTj tyf cGo /sdx?
k|lt OsfO{ v'b ;DklQ d"No Ö ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
d"NofÍg ldltdf of]hgf cGtu{tsf] s'n OsfO{ ;ª\Vof
-v_ v'b ;DklQ d"No k|sfzg ;DaGwL Joj:yf M

lgodfjnLsf] Joj:yf adf]lhd k|To]s xKtf v'b ;DklQ d"No of]hgf Joj:yfkssf] j]j;fO{6
www.sanima.capital df ;fj{hlgs ul/g]5 . ;fy} of]hgf Joj:yfksn] of]hgfn] lwtf]kqdf u/]sf] nufgLsf]
/sd, nufgL u/]sf] lwtf]kqx?sf] ahf/ d"No, of]hgfsf] cfDbfgL tyf vr{x?, of]hgfsf] k|lt OsfO{ v'b ;DklQ
d"No / ;f] u0fgfsf] cfwf/ cfbL ;DaGwL ljj/0fx? k|To]s g]kfnL dlxgf ;dfKt ePsf] kGw| lbgleq sf]if
;'kl/j]Ifs / af]8{nfO{ hfgsf/L u/fO{ /fli6«o :t/sf] klqsfdf sDtLdf Ps k6s k|sfzg ug]{5 / ;f] k|sflzt
ljj/0f cfKfm\gf] j]a;fO{6df ;d]t /fVg]5 .
*=!) of]hgfdf cGt{lglxt hf]lvd tyf ;f]sf] Joj:yfkgsf] nflu Joj:yfkgsf] wf/0ff
-s_ ;fdfGo hf]lvd tTjx? M
-!_;fd"lxs nufgL sf]ifdf ul/g] nufgL lwtf]kq ahf/sf] hf]lvd;Fu e/kg]{ x'Fbf gfkmf x'g] tyf ;xefuLn] lnPsf]
p2]Zo k"/f x'g] s'/fsf] s'g} lglZrttf gx'g] ;DaGwdf M
;fd"lxs nufgL sf]if cGtu{t of]hgfsf] nufgL lwtf]kq ahf/ nufot cGo ljleGg If]qdf k|jfx ul/g] x'Fbf lwtf]kq
ahf/ tyf To:tf] nufgLdf lglxt hf]lvdn] of]hgfsf] nufgLsf] k|ltkmndf k|ToIf c;/ kb{5 .
-@_ lwtf]kqdf x'g] nufgL h:t} of]hgfsf] OsfO{x?sf] v'b ;DklQ d"No ahf/ d"Nosf] cfwf/df 36j9 x'g] ;DaGwdf M
38
of]hgfsf] v'b ;DklQ d"No of]hgfn] u/]sf] nufgLsf] d"NofÍgaf6 u0fgf ul/Psf] x'G5 . o;sf] nufgL dWo] lwtf]kq
ahf/df ;"lrs[t lwtf]kqx?df u/]sf] nufgLsf] ;DklQ d"Nodf To:tf lwtf]kqsf] d"Nodf x'g] ptf/ r9fjn] k|efj kfg]{
x'Fbf of]hgfsf] v'b ;DklQ d"Nodf ;d]t To;sf] k|ToIf k|efj /xg] ub{5 / ;f]xL adf]lhd 36a9 x'g] ub{5 .
-#_sf]if k|j4{s, ;'kl/j]Ifs jf of]hgf Joj:yfkssf] lautsf] sfo{n] lghx?sf] eljiosf] sfdsf] nflu lgb]{zg jf
;ª\s]t ub}{g eGg] ;DaGwdf M
of]hgf Joj:yfksn] ahf/sf] ljBdfg cj:yfsf] ljZn]if0f u/L :jtGq ?kdf of]hgfsf] ;~rfng tyf Joj:yfkg ug]{
/ k|rlnt sfg"g adf]lhd o;sf] lx;fj lstfj ;d]t 5'§} ?kdf /fVg] / ;f]sf] lgoldt l/kf]l6{Ë ug]{ ub{5 . of]hgfsf]
/sd nufgL ubf{ of]hgf Joj:yfkssf] bIftfn] of]hgfsf] sfo{;Dkfbgsf] :t/ (Performance Level) lgwf{/0f ug]{ eP
tfklg sf]if k|j4{s, of]hgf Joj:yfks tyf sf]if ;'kl/j]Ifssf] ljutsf] sfo{n] o; of]hgfsf] glthfnfO{ ;ª\s]t jf
lgb]{zg ub}{g .
-$_ sf]if k|j4{sn] of]hgfdf s'g} xfgL gf]S;fgL ePdf ;f]sf] lhDd]jf/L lng] 5}g eGg] ;DaGwdf M
of]hgfsf] ;~rfng tyf Joj:yfkg k|rlnt sfg'gsf] clwgdf /xL of]hgf Joj:yfksn] g} ub{5 . of]hgfdf s'g}
k|sf/sf] xfgL gf]S;fgL ePdf ;f]sf] lhDd]jf/L sf]if k|j4{sn] ln+b}g .
-%_o; of]hgfn] eljiodf /fd|f] ug]{ / d'gfkmf lbg] s'/fsf] ;'lglZrttf ub}{g eGg] ;DaGwdf M
o; of]hgf cGt{ut OsfO{x? lgisfzg u/L ;+sng ul/Psf] /sd ljleGg If]qdf nufgL ul/G5 . of]hgf Joj:yfksn]
cfkm\gf] bIftfsf] pkof]u u/L nufgL hf]lvd sd ug]{ tyf d'gfkmf a[l4 ug]{ ljifonfO{ b[li6ut u/L sf]ifsf]
;'Joj:yfkg ug]{ ePtfklg of]hgfn] eljiodf /fd|f] ug]{ jf d'gfkmf lbg] s'/fsf] ;'lglZrttf eg] ub}{g .
-v_ vf; hf]lvd tTjx? M
-!_k|:t't of]hgf lglZrt ?kdf d'gfkmf lkmtf{ lbg] jf s'g} a}+s jf ladfaf6 d'gfkmfsf] ;'lglZrttf eP gePsf] s] xf]
;f] ;DaGwdf M
o; of]hgf cGtu{t nufgL ug]{ nufgLstf{x?n] OsfO{sf] c+lst d"Nodf nufgL u/]sf] cg'kftdf of]hgfn] sdfPsf] v'b
d'gfkmfsf] cfwf/df gub nfef+z kfpg] 5g\ . o:tf] nfef+z of]hgfn] cfˆgf] nufgL jfkt k|fKt ug]{ k"FhLut d'gfkmf,
Jofh, nfef+z, z]o/ k|Tofe"lt sldzg jf ;DklQsf] d"No j[l4 (Capital Gain) jf cGo ljQLo sf/f]jf/af6 k|fKt ePsf]
cfDbfgLaf6 lbg]5 . k|To]s cfly{s jif{df of]hgfn] v'b d'gfkmfaf6 nfef+z lbg] lg0f{o ug{ ;Sg]5 . nfef+z ljt/0f ug]{
cj:yfdf v'b d'gfkmfaf6 nfef+z s§f u/L afFsL /x]sf] /sd ;l~rt d'gfkmf (Retained Earning) sf] ?kdf /xg]5 . s'g}
jif{ of]hgfsf] cfDbfgLn] nfef+z ljt/0f ug{ g;Sg] cj:yf cfPdf ;l~rt d'gfkmfaf6 nfef+z lbg ;lsg]5 . of]hgfn]
x/]s jif{ nfef+z lbg] ;'lglZrttf eg] x'Fb}g .
-@_of]hgf cGtu{tsf] nIo k|fKt ug{sf nflu c;/ kg]{ tTjx?df ;/sf/L gLltx?, ahf/sf] cj:yf, ahf/nfO{ c;/
kfg]{ tTjx?, ahf/df kl/jt{g e}/xg] Jofh b/, Joj;fo u/Lg] lwtf]kqsf] ;ª\Vof, /fkm;fkm u/Lg] k2lt cflbn] c;/
kfg]{ ;DaGwdf M
;fd"lxs nufgL sf]if;DaGwL sfg"gL Joj:yf tyf gLltx?df s'g} kl/jt{g ePdf of]hgf ;~rfng tyf ;f]sf]
k|ltkmndf ;d]t ;f]xL cg'?k c;/ kg]{ x'G5 . ;fy} ahf/sf] cj:yf, ahf/nfO{ c;/ kfg]{ tTjx?n] ;d]t of]hgfdf
c;/ kfg]{ x'G5 . of]hgfn] lwtf]kq ahf/df ;"lrs[t lwtf]kqdf nufgL ug]{ / ahf/sf] cj:yf x]/L of]hgfsf] gfddf
lwtf]kq v/Lb laqmL ug]{ x'Fbf ;f]sf] /fkm;fkm k|s[ofn] of]hgfsf] /sd k|fKt ug{ nfUg] ;do lge{/ x'G5 . l9nf] u/L
/sd k|fKt x'g] cj:yfdf pQm /sdaf6 cfh{g x'g ;Sg] Aofh cfDbfgLdf 36a9 x'g uO{ of]hgfsf] cfDbfgLdf c;/
kb{5 . lwtf]kqsf] v/Lb laqmLdf x'g] l9nfOn] ahf/ hf]lvd;d]t cfslif{t x'g;Sb5 . ;fy} ;fdfGotof ljQLo If]qdf
sfod x'g] Jofhb/ / lwtf]kqsf] nufgLaLr ljkl/t ;DaGw (Inverse relation) x'g] x'Fbf ;f]sf] c;/ of]hgfsf] v'b
;DklQ d"Nodf ;d]t kg{ ;Sb5 .
-#_/]l6Ë sDkgLn] lbPsf] /fon] v'b ;DkQL d"Nosf] :yL/tfsf] ;'lglZrttf gug]{ s'/f ;DaGwdf M
o; of]hgf;+u cfj4 sf]if k|j4{s tyf o; of]hgf ;+rfng ug]{ of]hgf Joj:yfkssf] /]l6Ë >L Oqmf g]kfn
lnld6]8af6 ePsf] 5 . pQm /]l6Ë sDkgLn] s'g} ;dosf] ljj/0fsf] cfwf/df /]l6Ë ug]{ x'Fbf pQm ;dodf lbOPsf]
/fon] of]hgfsf] v'b ;DklQ d"Nosf] l:y/tfsf] ;'lglZrttf ub}{g .
-$_ Jofhb/ kl/jt{gaf6 x'g] hf]lvd ;DaGwdf M
of]hgfsf] s'n /sd dWo] s]xL /sd a}+s lgIf]k tyf a08÷l8j]Gr/x?df ;d]t nufgL ul/g] x'Fbf lgIf]kdf k|fKt x'g]
Aofhb/df kl/jt{g x'Fbf of]hgfsf] cfodf ;d]t c;/ kb{5 . ;DklQsf] d"Nofª\sg (Valuation) k|rlnt Jofhb/nfO{
cfwf/ dfgL ul/g] x'Fbf k|rlnt Jofhb/df x'g] kl/jt{gn] of]hgf cGtu{tsf] ;DklQsf] d"Nofª\sgdf ;d]t kl/jt{g x'G5
.
-%_of]hgf z'? ug]{ a]nfdf ePsf] vr{ tyf aflif{s vr{ cflbn] v'b ;DklQ d"Nodf k|efj kfg]{ ;DaGwdf M
39
of]hgf cGtu{tsf OsfO{x? laqmLsf nflu af]8{df btf{ u/fpg], ljj/0f k'l:tsf :jLs[t u/L laqmL v'Nnf ug]{, laqmL aGb
ug]{, afF8kmfF6 ug]{, g]kfn :6s PS;r]~hdf ;"lrs[t u/fO{ bf];|f] ahf/df sf/f]jf/sf] Joj:yf u/fpg], ;"rLs/0f tyf
jflif{s gjLs/0f ug]{, of]hgfsf] n]vfk/LIf0f u/fpg], of]hgfsf] lj1fkg ug]{, sfg'gL ;]jf lng], lgodfjnLsf] Joj:yf
jdf]lhd of]hgf ;DaGwL ;"rgf k|sflzt ug]{ cflb sfo{sf nflu nfUg] vr{x? of]hgfsf] s'n ;DklQ d"Noaf6 s§f u/L
of]hgfsf] v'b ;DklQ d"No u0fgf ul/g] x'Fbf o:tf vr{x?n] of]hgfsf] v'b ;DklQ d"Nodf s]xL k|efj kfb{5 .
-^_Nffh{ Sofk ;DaGwL hf]lvddf o;sf pks/0fx?n] sDkgL / ahf/ b'a}sf hf]lvd af]ls/x]sf x'G5g\ eGg] s'/f pNn]v
ug]{ M
of]hgfn] Nffh{ Sofkdf cfwfl/t pks/0fdf u/]sf] nufgLsf] ;'/Iff / k|ltkmn sDkgLsf] cj:yf / ahf/sf] l:yltdf
lge{/ /xg] x'Fbf o:tf pks/0fx?df ePsf] nufgLdf oL b'a} lsl;dsf hf]lvdx? cGtlg{lxt /x]sf x'G5g\ .
-&_C0f hf]lvdleq csf]{ kIfsf] C0f lkmtf{ ug]{ Ifdtf tyf OR5fdf lge{/ ug]{ s'/f h:tf] sL ;/sf/L lwtf]kqdf s'g}
hf]lvd g/xg] s'/f M
of]hgfn] ;/sf/L C0fkqsf cltl/Qm cGo If]qn] hf/L ug]{ C0fkqx?df ;d]t nufgL ug{ ;Sg] / o:tf] C0fkqdf
ePsf] nufgL lkmtf{ x'g] ljifo C0fkq hf/L ug]{sf] dg;fo / Ifdtfdf ;d]t lge{/ /xg] x'Fbf o:tf] C0fkqdf u/]sf]
nufgL ;/sf/L C0fkqdf u/]sf] nufgL ;/x ;'/lIft / hf]lvd /lxt x'Fb}g .
-*_t/ntf hf]lvd ;DaGwdf ;f] lwtf]kq slt laqmL ug{ of]Uo jf ;xh 5 Toltg} t/ntf cfpg] af/] pNn]v ug]{ M
of]hgfn] lwtf]kqdf u/]sf] nufgLnfO{ t/n ;DklQdf kl/0ft ug]{ laifo nufgL ul/Psf] lwtf]kqs} t/ntfdf lge{/ /xg]
x'Fbf of]hgfsf] t/ntfdf lwtf]kqdf ePsf] nufgLsf] hf]lvd ljBdfg /xG5 .
-(_Aofhb/df x'g] hf]lvd o;sf] ultljlwdf lge{/ u5{ eGg] s'/f h:tf] sL ;/sf/n] C0f lnPdf, d'b|f:kmLtL ePdf
cflb af/] M
Aofhb/df kl/jt{g x'g] hf]lvd cy{tGqdf x'g] ultljlwdf lge{/ ub{5 . ljleGg cfly{s ptf/r9fjsf] c;/ Aofhb/df
;d]t kg{ ;S5 / o; cj:yfdf Aofhb/sf] kl/jt{gaf6 x'g] hf]lvd of]hgfdf ;d]t kg{ ;Sb5 .
-!)_k'gn{ufgL hf]lvd oyfjt /xg] sf/0fdf Aofh b/df ePsf] clglZrttfsf sf/0f tyf C0fkqsf] ;§fdf s'kg
k|fKt x'g] / ;f]xL s'kg k'gn{ufgLdf k|of]u x'g] x'Fbf k'g{nufgL hf]lvd af/] v'nfpg] M
C0fkqdf tyf a}+s lgIf]kdf u/]sf] nufgLaf6 k|fKt Aofh cfDbfgL k'g nufgL ug{ ;lsg]5 . olb Aofhb/df kl/jt{g
ePdf o;/L k|fKt Aofh /sd k'gn{ufgL ubf{ plQs} k|ltkmn k|fKt ug{ g;lsg] hf]lvd /xg ;Sb5 .
-!!_of]hgf cGtu{t nufgL ul/g] laleGg k|sf/sf lwtf]kqx?n] laleGg k|sf/sf hf]lvd axg ug]{ s'/f h:tf] sL
;/sf/L C0fkqeGbf Jofkfl/s sDkgLn] hf/L u/]sf C0fkqx?df a9L hf]lvd /xg] s'/f M
of]hgfn] laleGg k|sf/sf] lwtf]kqdf nufgL ug]{ x'G5 . oL lwtf]kqx?df z]o/, cu|flwsf/ z]o/, l8j]Gr/, ;/sf/L
C0fkq cflb x'G5g\ . oL lwtf]kqsf] k|s[ltsf] cfwf/df z]o/sf] t'ngfdf cu|flwsf/ z]o/ To;kl5 ;+:yfut l8j]Gr/
sd hf]lvdk"0f{ x'G5g\ eg] ;/sf/L C0fkqnfO{ hf]lvd/lxt lwtf]kq dflgG5 . of]hgfn] o:tf lwtf]kqdf u/]sf]
nufgLdf nufgL cg'kft cg'?ksf] hf]lvd /xG5 .
-!@_of]hgfn] nufgL ug]{ cGo pks/0fx? h:t} 8]l/e]l6K;\, ô'r/, cK;g cflbdf lglxt hf]lvdx? af/] pNn]v ug]{ M
of]hgfn] o:tf pks/0fx?df nufgL ug]{ p2]Zo /fv]sf] 5}g . eljiodf o:tf pks/0fx?df nufgL ug]{ cj;/ pknAw
ePdf af]8{sf] :jLs[ltdf nufgL ug{ ;lsg]5 . To:tf] cj:yfdf o:tf pks/0fx?df lglxt hf]lvd tTjsf] c;/
of]hgfsf] hf]lvd tyf k|ltkmndf ;d]t kg{ ;S5 .
-!#_of]hgfsf] nufgL kl/jTo{ ljb]zL d'b|f jf ;f]df cfwfl/t pks/0fx?df nufgL ug]{ ePdf ljb]zL d'b|f ljlgdo b/df
cfpg] kl/jt{gaf6 x'g] hf]lvd af/] pNn]v ug]{ M
of]hgfn] xfn o; k|sf/sf] pks/0fx?df nufgL ug]{ p2]Zo /fv]sf] 5}g . o:tf pks/0fdf nufgL ug]{ cj;/ k|fKt
ePsf] cj:yfdf af]8{sf] :jLs[lt lnO{ nufgL ul/g]5 . To;/L nufgL ul/Psf] cj:yfdf ljb]zL d'b|f kl/jt{gaf6 x'g]
hf]lvd of]hgf / o;sf] k|ltkmndf ;d]t /xG5 .
-!$_of]hgfsf] cjlwe/ ;f]sf] d"No a[l4sf] cj;/ /xg] t/ ;f]sf] af]gz gkfpg] af/] M
of]hgfsf] sfo{;Dkfbgsf] cfwf/df of]hgf cGtu{tsf OsfO{x?sf] d"No a[l4 x'g] ;Defjgf /xG5 . of]hgfn] k|fKt u/]sf]
k|ltkmnsf] cfwf/df OsfO{wgLx?nfO{ of]hgfn] gub nfef+z ljt/0f ug{ ;Sg] cj:yf x'G5 . tyflk of]hgfn] s'g}
k|sf/sf] af]gz eg] ljt/0f ug]{ 5}g .
-u_ hf]lvd Joj:yfkgsf] nflu Joj:yfkg -sf]if Joj:yfks_ sf] wf/0ff M
40
-!_ of]hgfsf] nufgLdf x'g] hf]lvd Joj:yfkgsf nflu sf]if Joj:yfks ;b}j ;r]t /xL ahf/df pTkGg x'g]
hf]lvdx?sf] lg/Gt/ cWoog u/L ;do;fk]If lx;fan] ;f]r]eGbf a9L hf]lvd ePsf] nufgLnfO{ oyf;Sbf] rfF8f]
laqmL u/L ;f] af6 ;+slnt /sd cGo ;f]r] cg'?ksf] hf]lvd ePsf pks/0fx?df nufgL ul/g]5 .
-@_ ;jn tYofª\s k|0ffnLsf] ljsf; u/L kof{Kt cWoog cg';Gwfgsf cfwf/df af]8{n] nufgLsf nlfu tf]s]sf]
pks/0fx?sf] Ps cfGtl/s /]l6Ë ul/g]5 h;sf] cfwf/df dfq of]hgf Joj:yfksn] ;";'lrt lx;fan] nufgLsf]
lg0f{o ul/g] k|s[ofsf] ljsf; ul/g]5 .
-#_ lwtf]kqdf nufgL ug'{k"j{ pQm lwtf]kq / ;DalGwt sDkgLsf] ;DaGwdf cg';Gwfg ljefuaf6 k|fKt cfwf/e"t
ljZn]if0f k|ltj]bg (Fundamental Analysis Report) / k|fljlws ljZn]if0f k|ltj]bg (Technical Analysis
Report) sf] cfwf/df ahf/sf] cj:yf x]/L kof{Kt ljZn]if0f u/]/ nufgL ;DaGwL lg0f{o ul/g]5 .
-$_ahf/sf] cj:yf tyf hf]lvd kIfnfO{ Wofgdf /fvL lwtf]kqdf ul/Psf] nufgLnfO{ pko'Qm ;dodf t/n ;DklQdf
kl/0ft ug]{ tyf t/n ;DklQnfO{ nufgLdf kl/0ft ug]{ k|ls|of lg/Gt/ cjnDag ul/g]]5 .
-%_ nufgLdf hf]lvd Go"gLs/0f ug{ / nufgLdf ;dofg'lrt k|ltkmn k|fKt ug{ cfjZostf / cj;/ cg'?k If]qut
nufgLsf cj;/x?sf] lg/Gt/ cWoog cg';Gwfg cg';Gwfg ljefuaf6 ul/g]5 / ;f] sf] cfwf/df nufgL
ljljwLs/0f ul/g]5 .
-^_ t/ntf Joj:yfkgdf ;b}j pRr ;ts{tf ckgfOg]5 .
( OsfO{ lgisfzg ;DaGwL ljj/0f
(=! OsfO{ laqmL v'nf ul/g] ldlt tyf cjlw M

o; ljj/0f k'l:tsf dfkm{t\ lgisfzg ul/g] OsfO{x?sf] nflu cfj]bg lbg] cjlw clwstd !% lbgsf] x'g]5 .
cfjZostf eGbf a9L OsfO{sf] nflu cfj]bg kg{ cfPdf s'g} klg avt OsfO{x?sf] laqmL aGb ug{ ;lsg]5 . t/
ljj/0f k'l:tsfdf ul/Psf] Aoj:yf cg';f/ $ sfo{ lbg eGbf cuf8L OsfO{ vl/bsf] cfj]bg lng] sfo{ aGb ul/g]
5}g .
(=@ cfj]bg ;Íng s]Gb| -laqmL s]Gb|_ ;DaGwL hfgsf/LM
g]kfn lwtf]kq af]8{af6 lwtf]kq vl/b -;fj{hlgs lgisfzg_ ;DalGw lgb]{lzsf @)&# (ASBA) nfu" ePsf] / @)&$
>fj0f ! b]lv ;fj{hlgs lgisfzgdf ;f]lx lgb]{lzsfsf] Joj:yf adf]lhddfq cfj]bg ug{ kfO{g] ePsf]n] pQm
lgb]{lzsf adf]lhd g]kfn lwtf]kq af]8{af6 ;xeflu a}+ssf] Ohfht k|fKt a}+s tyf ljQLo ;+:yfsf tf]lsPsf b]z
el/sf zfvf sfof{non] cfj]bg ;+sng s]Gb|sf] sfo{ ug]{5g\ .
(=# lgj]bg lbg ;Sg] JolQm tyf ;+:yfx? M
s'g} klg g]kfnL gful/s o; ljj/0f k'l:tsf cg';f/ hf/L ul/g] OsfO{ vl/b ug{ cfj]bg lbg ;Sg]5g\ . ;fy}
k|rlnt sfg"g adf]lhd btf{ ePsf kmd{x?n] klg kmd{sf] gfdaf6 o; of]hgfdf nufgL ug{ ;Sg]5g\ . ;fy} a}+s,
ljQLo ;+:yf, OG:of]/]G; sDkgL, ;+:yfut nuflgstf{x?, s'g} klg ju{ jf ;d"xn] v8f u/]sf] sf]if h:t} ;+rosf]if,
sNof0fsf/L sf]if, u'l7, cIfosf]if cflb sf]ifx?sf] /sd o; km08df nufgL ug{ ;Sg]5 . lwtf]kqsf] s]lGb|o lgIf]k
;]jf lgodfjnL, @)^& adf]lhd lxtu|fxL vftf vf]n]sf JolQm tyf ;+:yfx?n] dfq o; lgisfzgdf cfj]bg ug{
;Sg]5g\ .
(=$ vl/b ug{ ;lsg] Go"gtd tyf clwstd OsfO{ ;+VofM

cfj]bsn] Go"gtd !)) -Ps ;o_ OsfO{ tyf ;f]eGbf dfly !) n] efu hfg] u/L clwstd !,)),)),)))÷–
- Ps s/f]8_ OsfO{ ;Dd vl/b ug{sf nflu cfj]bg lbg ;Sg]]5g\ .
(=% OsfO{sf] afF8kmfF8, lkmtf{ e'QmfgL tyf ;"rLs/0f ;DaGwL Joj:yf M

!= of]hgfsf] ;Dk"0f{ OsfO{ laqmLsf nflu lgj]bg k|fKt ePdf laqmL v'nf /fVg'kg]{ Go"gtd cjlw Joltt ePkl5 of]hgf
Joj:yfks÷lgisfzg tyf laqmL k|aGwsn] h'g;'s} ;dodf ;"rgf k|sfzg u/L OsfO{ laqmL aGb ug{ ;Sg]5 .
@= laqmL v'Nnf ePsf] lgj]bg lbg] cjlw tyf af]8{af6 yk ePsf] cjlwleq slDtdf krf; k|ltzt OsfO{ v/Lb ug{
lgj]bg k|fKt ePdf OsfO{sf] afF8kmfF8 ul/g]5 .
#= o; ljj/0f k'l:tsfcg';f/ OsfO{ laqmL v'Nnf cjlw;Dd klg cfx\jfg u/]sf] Go"gtd krf; k|ltzt OsfO{ vl/b
ug{sf] nflu cfj]bg k|fKt gePdf of]hgf vf/]h u/L kGw| lbgleq lgj]bsx?sf] /sd lkmtf{ ul/g]5 .
41
$= OsfO{ afF8kmfF8 ubf{ o; ljj/0f k'l:tsfdf pNn]lvt clwstd l;df;Ddsf] dfq OsfO{ afF8kmfF8 ul/g]5 . t/ o;
ljj/0f k'l:tsf dfkm{t lgisfzg ul/Psf] eGbf a9L ;ª\Vofdf OsfO{ dfu ePdf lgisfzg ul/Psf] OsfO{ ;ª\Vofsf]
kRrL; k|ltzt;Dd yk u/L OsfO{ afF8kmfF8 ul/g]5 .
%= lwtf]kqsf] s]lGb|o lgIf]k ;]jf lgodfjnL, @)^& sf] lgod @$ sf] pklgod & sf] Joj:yf adf]lhd OsfO{sf]
afF8kmfF8 cef}lts?kdf dfq ul/g] 5 . OsfO{sf] afF8kmfF8 ;DaGwL cGo Joj:yf lwtf]kq lgisfzg tyf afF8kmfF8
lgb]{lzsf, @)&$ adf]lhd x'g]5 .
^= o; of]hgfsf OsfO{ g]kfn :6s PS;r]~h lnld6]8df ;'rLs/0f u/L bf];|f] ahf/ sf/f]jf/sf] Joj:yf ul/g]5 .
(=^ cfj]bg lbbf Wofg lbg'kg]{ s'/fx?M
-s_= OsfO{wgLx?n] of]hgf Joj:yfkssf] sfo{;Dkfbg ;DaGwdf jf of]hgf vf/]hLsf ;DaGwdf cfkm\gf] dt /fVg
;Sg]5g\ t/ of] afWosf/L x'g]5}g .
-v_= of]hgf Aoj:yfkssf] lg0f{o adf]lhd OsfO{wgLx?nfO{ gub nfefFz ljt/0f ug{ ;lsg]5 . o;/L ljt/0f ug]{
gub nfefF; OsfO{wlgx?sf] a}+s vftfdf ;f]em} hDdf ug]{ Aoj:yf ldnfOg]5 .
-u_= OsfO{wgLx?sf] of]hgf cGtu{tsf cfkmgf gfddf /x]sf OsfO{x? cfkm\gf] ;DklQ ;/x bf];|f] ahf/df laqmL ug]{ tyf
bf];|f] ahf/df vl/b ul/Psf OsfO{x? cfkm\gf] gfddf gfd;f/L u/fpg ;lsg]5 .
-3_ of]hgf Aoj:yfkssf] lgodfjnL tyf k|jGwkq ;flgdf Soflk6nsf] /lhi68{ sfof{no z]o/ dfs]{6\; sdlz{on
sDKn]S;, k'tnL;8s, sf7df08f} af6 tf]lsPsf] z'Ns a'emfO{ k|fKt ug{ tyf x]g{ ;lsg]5 .
-ª_ s'g} klg g]kfnL gful/s tyf g]kfnL ;+3 ;+:yfn] o; ljj/0f k'l:tsf cg';f/ hf/L ul/g] OsfO{ vl/b ug{
cfj]bg lbg ;Sg]5g\ . cfa]bg cf:jf (ASBA) sf] ;b:o /x]sf ;Dk'0f{ a}+s tyf ljQLo ;+:yfx? / ltgsf
tf]lsPsf zfvf sfof{nox? af6 a'emfpg ;lsg]5 .
-r_= cfa]bsn] lxtu|flx vftf pknAw u/fpFbf lgIf]k ;b:osf]df ePsf] jf:tlas gfd, y/, / ltg k':tf x'ax' pNn]v
ug{'kg]{5 . km/s k/L afF8kmfF8df gk/] cfa]bs :jod\ lhDa]af/ x'g]5 .
-5_= ?=%,)),)))÷– ;Ddsf] nflu cfj]bg lbg] cfj]bsn] :j]lR5s ?kdf / ;f]eGbf a9L /sdsf] nflu cfj]bg lbg]
cfj]bsn] clgjfo{ ?kdf cfj]bg kmf/ddf cfkm\gf] :yfoL n]vf gDa/ (PAN) v'nfpg'kg]{5 .
-h_= cfj]bg lbFbf cf:jf ;b:o /x]sf a}+s÷ljQLo ;+:yfx?n] tf]s]sf] lglb{i6 9fFrfdf cfkm"n] vl/b ug{ rfx]sf] OsfO{
;ª\Vof / To;sf] /sd v'nfO{ cfj]bg lbg'kg]{5 .
-em_= Ps JolQmn] cfkm"n] lng rfx]sf] ;Dk"0f{ OsfO{sf] nflu PseGbf a9L cfj]bg lbg kfOg] 5}g . olb Ps} JolQmn]
PseGbf a9L cfj]bg lbPdf ;Dk"0f{ cfj]bg /2 ul/g]5 .
-~f_= cfj]bsn] sDtLdf !)) -Ps ;o_ OsfO{ tyf ;f]eGbf a9L OsfO{ vl/bsf nflu cfj]bg lbg rfx]df !) n] efu
hfg] u/L clwstd !,)),)),))) -Ps s/f]8_ OsfO{ vl/bsf nflu cfj]bg lbg ;Sg]5 . o:tf] OsfO{sf nflu
cfj]bg lbFbf cfkm"n] vl/b ug{ rfx]sf] k|lt OsfO{ jfkt ?= !).— -bz_ sf b/n] Psd'i7 /sd cfj]bg;fy
a'´fpg' kg]{5 .
-6_= o; ljj/0f k'l:tsf adf]lhd lgisfzg ul/g] OsfO{x?df ;Ílnt /sd ljljw lgwf{l/t If]qdf nufgL ul/g] /
ljBdfg kl/l:yltdf pQm nufgLjf6 cfh{g ul/g] d'gfkmfjf6 k|rlnt sfg'g jdf]lhd OsfO{wgLx?df k|ltkmn
ljt/0f ul/g]5 .
-7_= cfj]bsn] ljj/0f k'l:tsf /fd|f];Fu cWoog u/]/ dfq cfj]bg lbg' pko'Qm x'Gf]5 .
!)= OsfO{wgL -of]hgfsf ;xefuL_ nfO{ k|fKt x'g] clwsf/ tyf ;]jfM
OsfO{wgL -of]hgfsf ;xefuL_ nfO{ k|fKt x'g] clwsf/

-s_ of]hgfsf] nufgL gLlt, p2]Zo tyf ljQLo cj:yfjf/] hfgsf/L k|fKt ug]{ .
-v_ of]hgfn] ljt/0f u/]sf] k|ltkmn k|fKt ug]{ .
-u_ of]hgfcGtu{tsf cfkmgf gfddf /x]sf OsfO{x? cfkm\gf] ;DklQ ;/x bf];|f] ahf/df laqmL ug]{ tyf
bf];|f] ahf/df vl/b ul/Psf OsfO{x? cfkm\gf] gfddf gfd;f/L u/fpg] .
-3_ of]hgf Joj:yfkssf] sfo{;Dkfbg ;DaGwdf jf of]hgf vf/]hLsf ;DaGwdf cfkm\gf] dt /fVg] .
42
-ª_ of]hgf ;~rfng;DaGwdf s'g} u'gf;f] eP of]hgf Joj:yfks, sf]if ;'kl/j]Ifs tyf af]8{df u'gf;f
/fvL ;dfwfg u/fpg] .
-r_ of]hgfsf] sfo{;Dkfbg;Fu ;DalGwt v'b ;DklQ d"No, nufgLsf] cj:yf tyf of]hgfsf] ljQLo ljj/0f
lgodfjnLn] Joj:yf u/] adf]lhd k|fKt ug]{ .
OsfO{wgL -of]hgfsf ;xefuL_ nfO{ k|fKt x'g] ;]jf

-s_ vl/b u/]sf] OsfO{nfO{ OsfO{wgLn] pknAw u/fPsf] lxtu|fxL vftfdf hDdf ul/g] Aoa:yf ldnfOg]5 .
!!= u'gf;f] ;'Gg] / ;dfwfg ug{] k|s[of

of]hgf lgisfzgsf jvt pTkGg x'g;Sg] u'gf;fx?nfO{ ;DalGwt cf:jf ;b:o a}+s tyf ljlQo ;+:yf tyf
of]hgf Joj:yfkssf] sfof{noaf6 ;dfwfg ug]{ Joj:yf ldnfOg]5 . ;fy} of]hgf Joj:yfksn] of]hgf
;~rfngsf] qmddf ;xefuLx?sf] aLrdf jf of]hgf / ;xefuLx?sf aLrdf s'g} ljjfb p7]df To;sf]
;dfwfgsf nflu dr]{G6 a}lsË k|d'v /ZdL l/hfnnfO{ lgod kfngf clws[tsf] ?kdf lgo'Qm u/]sf] 5 . lgod
kfngf clws[tn] k|fKt u'gf;f]x? ;'Gg], ;f]sf] ;dfwfgsf pkfox? klxrfg ug]{ / ;fdfGo k|sf/sf u'gf;f]x?nfO{
sfg'g;Ddt tl/sfn] cfkm\g} txaf6 ;dfwfg ug]{5 . o;/L ;dfwfg x'g g;Sg] tyf hl6n k|s[ltsf u'gf;f
k|fKt ePdf ;Dej eP;Dd of]hgf Joj:yfksaf6 / ;Dej gePdf sf]if ;'kl/j]Ifs ;dIf /fvL ;f]sf] ;dfwfg
ul/g]5 . nufgLstf{x?n] b]xfo adf]lhdsf] dfWod dfkm{t cfˆgf] u'gf;f] tyf ;'emfj k|]lift ug{ ;Sg]5g\M kmf]g
g+= )!$@@(!@$÷)!$@@(!@% / E-mail: sanimacapital@sanimabank.com
lgisfzg a}+s M
o; lgisfzgsf] nflu lgisfzg j}+s lgo'Qm ul/Psf] 5}g t/ cfjZostf cg';f/ lgisfzg aGb ePsf] tLg
lbgleq af]8{nfO{ hfgsf/L lbO{ æsÆ au{sf afl0fHo a}+sx?nfO{ lgisfzg a}+ssf] ?kdf lgo'Qm ug{ ;lsg]5 .
43
!@= of]hgf Joj:yfkssf] k|lta4tf–kq -8\o' 8]lnh]G;\ ;l6{lkms]6_
ldlt M @)&&÷)*÷!^
>L g]kfn lwtf]kq af]8{

hfjnfv]n, nlntk'/ .
dxfzo,
ljifo M k|lta4tf kq .
o; ;flgdf Soflk6n lnld6]8n] ;flgdf Do'r'cn km08 cGtu{t ;flgdf Nffh{ Sofk km08 sf] OsfO{ lgisfzg tyf
laqmL ug]{ k|of]hgsf nflu tof/ u/]sf] ljj/0f k'l:tsfsf ;DaGwdf o; sDkgLsf] tkm{af6 b]xfo cg';f/sf]
k|lta4tf k]z ub{5' .
!= OsfO{ laqmL k|:tfj lwtf]kq ;DaGwL P]g, @)^#, ;fd"lxs nufgL sf]if lgodfjnL, @)^& tyf ;fd"lxs nufgL
sf]if lgb]{lzsf, @)^( jdf]lhd cufl8 a9fOPsf x'g\ .
@= of]hgf z'? ug{ cfjZos ;a} sfg'gL k|fjwfg, ;/sf/ tyf cGo lgofds lgsfoaf6 hf/L lgb]{zgx?sf] kfngf
ul/Psf] 5 .
#= ljj/0f k'l:tsfdf v'nfOPsf ljj/0fx? ;xefuLnfO{ k|:tfljt gofF of]hgfdf nufgL ug{ ;To tyf kof{Kt /x]sf
5g\ .
ejbLo,
leid /fh rfln;]

k|d'v sfo{sf/L clws[t
44
!#= o; ljj/0f k'l:tsfdf k|sflzt tYo tyf ljj/0fx? 7Ls b'?:t 5g\, ;f]df s'g} km/s k/]df xfdL ;~rfnsx? k"0f{
?kdf lhDd]jf/ x'g]5f}F egL ;xL5fk ug{] ;~rfnsx?sf] gfd tyf b:tvt
b:tvt
qm=;+= ;~rfnsx?sf] gfd kb
>L t]h axfb'/ rGb

!= -;flgdf a}+s ln= sf] tkm{af6_ cWoIf
>L kjg s'df/ cfrfo{
@= -;flgdf a}+s ln= sf] tkm{af6_ ;~rfns
>L lgZrn /fh kf08]

#= -;flgdf a}+s ln= sf] tkm{af6_ ;~rfns
>L ;/f]h u'/fufO{+

$= -;flgdf a}+s ln= sf] tkm{af6_ ;~rfns
8f=uf]kfn k|;fb e§
%= -:jtGq ;~rfns_ ;~rfns
>L ;'lgn pbf;

^= -:jtGq ;~rfns_ ;~rfns
45

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lwtf]kq ;DaGwL P]g, @)^# / ;fd"lxs nufgL sf]if lgodfjnL, @)^& adf]lhd

;flgdf a}+s lnld6]8 ;flgdf Soflk6n lnld6]8

ljj/0f k'l:tsf k|fKt ug]{ :yfg M

@=# cfj]bg kmf/d k|fKt ug]{ / a'emfpg] :yfgx?M

qm= ;+ sDkgLsf] gfd 7]ufgf

#=! lgodg lgsfosf] hjfkmb]lxtf g/xg] pb\3f]if0fM

#=@ sf]if k|j4{ssf] pb\3f]if0fM

#=# of]hgf Joj:yfkssf] pb\3f]if0fM

#=$ sf]if ;'kl/j]Ifssf] pb\3f]if0fM

of]hgf Joj:yfkssf] /]l6Ë M Oqmf g]kfnaf6

%= sf]if k|j4{s ;DaGwL hfgsf/L M

%=$ sf]if k|j4{ssf] ;+lIfKt Oltxf; M

%=% sf]if k|j4{ssf k|d'v p2]Zox? M

s=jf;nft - /sd ?=_

8]l/e]l6e ljQLo pks/0f 17,734,529 - 85,066,888 40,221,461

cGo Aofkfl/s ;DklQx? 406,239,582 478,048,147 484,421,811 443,453,005

u|fxsnfO{ lbPsf] shf{ tyf ;fk6 51,038,471,540 67,598,133,761 81,418,860,580 90,850,351,390

lwtf]kqdf nufgL 6,429,154,180 9,413,443,775 13,611,190,018 15,018,419,486

o; aif{sf] cfos/ ;DkQL 17,139,730 - - 4,201,081

;xfos sDkgLdf nufgL 110,000,000 250,000,000 250,000,000 250,000,000

;Da4 sDkgLdf nufgL - - - -

;DkQL tyf pks/0f 713,080,633 881,846,292 1,150,520,679 1,177,211,496

VoftL / cd't{ ;DkQL 3,315,403 56,550,539 70,319,347 60,545,750

:yug s/ ;DkQL - 50,151,213 14,774,571 25,565,110

cGo ;DkQL 946,304,967 661,074,779 1,713,594,966 2,253,731,045

s'n ;DkQL 69,481,703,681 91,821,952,603 109,064,487,965 126,310,981,152

g]kfn /fi6« a}+snfO{ ltg{ afFsL 611,009,105 358,950,008 1,018,919,629 86,292,488

8]l/e]l6e ljQLo pks/0f - 18,851,134 - -

u|fxssf] lgIf]k 56,161,055,860 77,849,380,056 89,373,729,162 107,250,202,687

o; jif{sf] cfos/ bfloTj - 66,294,857 24,771,881 -

Aoj:yf 43,355,931 11,817,943 27,174,446 32,428,917

:yug s/ bfloTj 30,923,343 - - -

cGo bfloTj 1,013,927,072 1,011,814,065 1,211,174,346 1,122,765,289

hf/L ul/Psf] C0fkq 370,000,000 370,000,000 1,724,712,000 1,724,712,000

;'/If0f g/flvPsf] ;xfos cfjlws bfloTj - - - -

s'n bfloTj 60,333,790,619 81,034,067,102 97,074,939,906 113,492,376,218

;+lrt d'gfkmf 1,280,242,935 1,136,681,538 1,751,506,637 1,197,037,733

hu]8f sf]ifx? 970,036,128 1,649,948,523 2,236,785,982 2,820,186,217

z]o/wgLx?nfO{ afF8kmfF8 of]Uo s'n OlSj6L 9,147,913,063 10,787,885,501 11,989,548,059 12,818,604,934

u}x| lgoGqLt :jfy{ - -

s'n OlSj6L 9,147,913,063 10,787,885,501 11,989,548,059 12,818,604,934

s'n OlSj6L tyf bfloTj 69,481,703,681 91,821,952,603 109,064,487,965 126,310,981,152

-v_= gfkmf–gf]S;fg lx;fj - /sd ?=_

u_ gub k|jfx ljj/0f - /sd ?=_

z'Ns tyf cfDbfgL 342,010,425 701,473,377 789,276,131 695,298,092

sf/f]jf/ ;~rfngaf6 k|flKt 301,979,944 312,307,411 415,482,631 423,536,083

Aofh vr{ (2,834,569,936) (5,092,440,963) (6,350,195,161) (7,285,999,579)

sldzg tyf z'Ns vr{ - (50,152,348) (73,254,193) (78,530,474)

sd{rf/L vr{ (339,098,895) (728,799,274) (1,288,926,416) (1,184,176,256)

cGo vr{ (340,193,986) (383,765,844) (506,799,351) (560,732,861)

;~rfng ;DklQ / bfloTjsf] kl/jt{g

;~rfng ;DalGw rfn' ;DklQdf

cGo Aofkfl/s ;DklQ (71,808,565) (4,706,575) 47,169,477

a}+s tyf ljQLo ;+:yfx?nfO{ lbOPsf]

u|fxsnfO{ lbOPsf] shf{ tyf ;fk6L (10,518,959,375) (16,788,980,230) (14,038,964,869) (10,228,515,413)

cGo ;DklQ (1,206,978,904) 367,753,361 (826,149,945) 78,486,903

;~rfng ;DalGw rfn' bfloTjdf

u|fxssf] lgIf]k 11,358,662,524 21,688,324,196 11,524,349,106 17,876,473,526

cGo bfloTj 1,185,088,209 (24,059,093) 111,235,705 (134,033,674)

cfos/ cufl8sf] sf/f]af/

cfos/ e'QmfgL (780,552,184) (916,293,600)

sf/f]af/ ;~rfngaf6 v'b gub k|jfx 5,081,862,281 4,597,677,924 3,028,705,493

nufgL sf/f]af/df gub k|jfx

lwtf]kq nufgL ljlqmaf6 k|fKt - - -