BEDL Annual Report 15-16

Nation’s dream,
our promise...
Achieved Highest Credit Rating in Power Sector

Baraka Power Limited has been awarded AA2 (Double A Two) Credit Rating by the reputed rating
agency, Credit Rating Agency of Bangladesh (CRAB) Ltd. This is the highest rating for a power
plant of the country so far achieved. AA2 indicate very strong capacity, sound credit profile,
comfortable cash flow, stable profitability and satisfactory solvency of the country.
Contents
2 COMPANY INFORMATION
4 CORPORATE ETHOS
5 COMMITMENT TO GREEN ENERGY
6 Success Milestones
8 Corporate Directory
10 Director’s Profile
16 Message from the Chairman
18 Message from the Managing Director
20 Profile of the Senior Team Members
24 Directors’ Report to the Shareholders
40 ANNEXTURE - i- Status of Compliance with the Corporate Gevernance Guideline (CGC)
45 ANNEXTURE - ii- Board Meeting and Attendance
46 ANNEXTURE - iii -Pattern of Shareholding
47 ANNEXTURE - iv - FINANCIAL SUMMARY
48 ANNEXTURE - v - COMPLIANCE Report
49 Corporate Governance
51 Audit Committee Report
53 Financials
89 Directors' report & financials of SubsidiAry Company
97 Events
100 CSR Activities
102 notice of the 9th agm
Annexed proxy form & attendance slip
Annual Report 2015-16 1

INFORMATION
COMPANY
2 B ara k a P o w e r L i m i t e d
B
araka Power Limited is a joint collaboration of
a group of local and Non Resident Bangladeshi
(NRB) entrepreneurs. Baraka Power is the
only private sector power generating company
developed by a group of NRB sponsors. The
company was incorporated in Bangladesh on
26 June 2007 as a Private Limited Company.
On 25 September 2008, the Company was
converted into Public Limited Company
under the Company Act 1994. On January
12, 2015 the company was renamed from
Barakatullah Electro Dynamics Limited to
Baraka Power Limited.
Baraka Power Limited took part in a tender
initiated by Bangladesh Power Development
Board (BPDB) and won the bid to implement,
generate & supply electricity from a 51MW
power plant at Fenchuganj, Sylhet for
a period of 15 years on a Build, Own &
Operate (BOO) basis. Baraka Power signed
an agreement for the supply of power to
the Bangladesh Power Development Board
on 28 April 2008. The 51MW Power plant
at Fenchuganj, Sylhet was commissioned
successfully on 10 October 2009 and started
commercial operation on 24 October 2009.
The company listed on 16 May 2011 with
both the Dhaka and Chittagong Stock
Exchange of Bangladesh and started share
trading on 19 May 2011.
Nature of Business In the year 2011, Baraka Power Limited was
awarded a 50 MW IPP HFO based power
The Principal activity of the Company is to set up plant at Patenga under the open tendering
power plants for the generation of electricity. method. Accordingly, Baraka Power Limited
formed a subsidiary company named Baraka
Patenga Power Limited (BPPL) to design,
Principal Products and Service
finance, insure, construct, own, commission,
Electricity is the principal product of the Company. operate and maintain a 50 MW, HFO-fired
Under the private sector power generation policy power generating facility at South Patenga,
of Bangladesh, Baraka Power Limited supplies Chittagong for a term of 15 years. The BPPL
electricity to the Bangladesh Power Development plant started commercial operation on 04
May 2014 and since then has been providing
Board (BPDB) through the National Grid.
an uninterrupted supply of the electricity to
the National Grid.

To ensure uninterrupted supply of
electricity to the Nation through
effective utilization of capital,
machinery, human resources, OBJECTIVE
continuous improvement of services,
customer satisfaction and resource
management. MISSION Our mission is to become
the largest power generating
To develop the socio-economic company in the private sector by
condition of Bangladesh by developing more power plants
providing uninterrupted
VISION
across Bangladesh.
electricity at an affordable price.
CORPORATE
4
ETHOS
B ara k a P o w e r L i m i t e d
COMMITMENT
TO GREEN ENERGY
The Baraka Power ethos places a
special emphasis on environmental and
ecological conservation. We are committed
to preserving and regenerating the
environment during the process of project
implementation and operation of our
power plants. A focus area, in this context,
is the global warming issue. Baraka
Power as working on projects that include
experiencing green cover, maintaining
local ecological balance and improving
long term sustainability.
The Company has adopted and
implemented policies which ensure
emission control through initiatives such
as Flue Gas Desulfurization (FGD).

Success Milestones
2012
24 January
Sub Station Equipment Supply
Contract with Siemens
Bangladesh Limited for BPPL
15 February
Exhaust Gas Secondary Power
Plant Supply Contract with Greens
Power Ltd, UK for BPPL
2010
03 April
2011
2008
Formal Inauguration by
Honorable Prime Minister
01 February
01 September
Publication of Prospectus
Awarded ISO 9001:2008
21 January Certification for Quality 06 April
Notification of Award Management System
Drawn of IPO Lottery
issued by BPBD 06 September
16 May
28 April Accomplished Credit Rating by
CRAB (Rating Long Term AA2) Listing of Shares with Stock
Signed Project ExchangeS
Agreement with BPDB 14 October
19 May
22 June Submitted Draft Prospectus
to Securities & Exchange Started trade of Shares
Gas-Supply Agreement
with Jalalabad Gas Commission for approval of 31 July
Transmission and Initial Public Offering (IPO)
Signed an agreement with
Distribution System Ltd 28 December BPDB to build a 50 MW Power
(JGTDSL) Plant at Patenga, Chittagong
Approval of Prospectus for
12 August IPO by formation of new company
named Baraka Patenga Power
Gen-Set Supply Contract Limited (BPPL)
with GE Jenbacher,
Jenbach, Austria 19 Oct
2009
25 September Gen Set Supply Contract with
Rolls Royce Marine AS, UK for BPPL
Conversion from Private
to Public Limited Company
29 September 22 January
Sub Station Equipment Signed syndicated term loan
Supply Contract facility of BDT 1,250 million
24 November 10 October
GAS RMS Supply Contract Started Commissioning
24 October
Started Commercial Operation
2007
26 June
Incorporated as Private
Limited Company
2016
20 October 2016
Signed Strategic
Partpership Agreement
with UCEP
2015
20 January 2015
2014 Achieved ICMAB Best

Corporate Award – 2014
10 April 2015
21 January 2014 Successful Commissioned
of Steam Turbine
Signed Term Loan of USD Generation (STG) of BPPL
21.975 million funded by
the World Bank for BPPL
2013
27 April 2014
Achieved ICMAB Best
Corporate Award – 2013
04 May 2014
12 January
Started Commercial
Achieved Best Corporate Operation of BPPL
Award – 2012 from ICMAB
31 August 2014
20 March
Successful
Signed Syndicated Term Commissioned of Flue
Loan facility of BDT 2,205 Gas Desulferization
million for BPPL System of BPPL
29 August
Sanctioned Term Loan of
USD 04 million by IDCOL
01 November
Signed Flue Gas
Desulferization (FGD)
Equipment purchased
contract for BPPL

51 MW Gas fired Power Plant, Fenchuganj, Sylhet 50 MW HFO Fired Power Plant, South Patenga, Chittagong
Board of Directors
Chairman
Mr. Faisal Ahmed Chowdhury
Corporate
Vice Chairman
Directory
Engr. Md. Ahsanul Kabir
Mr. Abdul Bari
Managing Director
Mr. Gulam Rabbani Chowdhury
Directors
Mr. Robin Chowdhury
Mr. Nanu Kazi Mohammed Miah
Independent Directors
Dr. Tofayel Ahmed Ph. D
Mr. Abdus S Majid
Mr. Mohammed Ahmed Ali
Company Secretary
Mohammed Monirul Islam
Statutory Auditors
Malek Siddiqui Wali
Chartered Accountants
9-G, Motijheel C/A, 2nd Floor
Dhaka-1000, Bangladesh
Legal Advisor
Law Concept
Room # 802 (7th floor),
27 Dilkusha C/A, Dhaka-1000
P & H Associates
123, New Kakrail Road,
Suite– 01 (2nd floor)
Shantinagar, Dhaka-1000
Management Team
Mr. Faisal Ahmed Chowdhury
Chairman and Head of Planning & Business Development
Mr. Gulam Rabbani Chowdhury
Managing Director
Engr. Md. Ahsanul Kabir
Vice Chairman & Head of Administration
Mr. Fahim Ahmed Chowdhury
Deputy Managing Director & Head of Finance
Mr. MOnzur Kadir Shafi
Deputy Managing Director & Head of Finance (BPPL)
Company Name
Mr. Nazmul Hassan Choudhury Baraka Power Limited
Chief Operating Officer (COO)
Mr. Jalal Ahmed Chowdhury
Technical Consultant Company Registration No.
C-67429 (4921)/07 dated June 26, 2007
Mr. Mohammed Monirul Islam
Company Secretary
Mr. Md. Shariful Alam
Legal Form
The Company was incorporated in Bangladesh on 26 June
General Manager (Operation & Maintenance)
2007 as a Private Limited Company. On 25 September, 2008
Mr. Monowar Ahmed the Company registered itself as a Public Limited Company
Deputy General Manager–Commercial under the Companies Act 1994. On January 12, 2015 the
company changed its name from Barakatullah Electro
Dynamics Limited to Baraka Power Limited.
Bankers &
Financial Institutions Registered Office
Infrastructure Development Co. Ltd. (IDCOL) 102-Azadi, Mirboxtola
Trust Bank Limited Sylhet-3100.
United Commercial Bank Limited Phone: +880-821-726760
Prime Finance & Investment Limited Fax: +880-821-712154
IPDC of Bangladesh Ltd. E-mail: info@barakapower.com
Web: www.barakapower.com
Location
of Power Plants Corporate Office
Fenchuganj, Sylhet 6/A/1 (1st & 2nd floor), Segunbagicha, Dhaka-1000
South Patenga, Chittagong Phone: +880-2-9572305, 9560339
Fax: +880-2-9559015
E-mail: info@barakapower.com
Web ; www.barakapower.com
Sylhet Office
Khairun Bhaban (6th floor)
Mirboxtola, Sylhet – 3100
Phone : +880-821-711815
Fax: +880-821-722089
E-mail: info@barakapower.com
Web : www.barakapower.com

Director’s Profile
Faisal Ahmed Chowdhury

Chairman
F
aisal Ahmed Chowdhury is a visionary business aim of leaving a legacy for the future generation to build
leader and possessing over twenty six years of and improve our nation, Bangladesh.
highly successful leadership in the area of fiscal, Along with NRB’s and local entrepreneurs, Mr. Faisal
strategic, and operational management. He is Chowdhury established Baraka Power Limited previously
a dynamic & result oriented businessman with called Barakatullah Electro Dynamics Limited in 2007. This
a strong track record in a number of industrial venture had helped to resolve the national power shortage
sectors. His excellent analytical, interpersonal, in Bangladesh. Remarkably, his unique entrepreneurial
and motivational skills have made him a and leadership skills had made Baraka Power Limited fully
prominent and respected business leader in operational and created a valuable organization within a
Bangladesh. very short span of time. Then he went on to establish a
After completing his graduation, during the mid 1990’s he second power plant named Baraka Patenga Power Limited
relocated to the UK and started his own business founding (BPPL) in Chittagong. BPPL is the first power plant
Apex Printing and Publications Ltd and then went on to to be funded by the World Bank foreign currency loan
established Imprint Trading Ltd making it successful. under IPFF facility. BPPL maintains high environmental
With the ambition of establishing business in Bangladesh standards by introducing a Flue Gas Desulfurization (FGD)
and for the development of the socio-economic standard system to minimize the environmental impact.
of the nation, he successfully started an internationally Mr. Faisal Chowdhury is also involved in several community
recognized real estate company in Bangladesh named and social interest activities and organizations. He is an
Royal City, (300 acres) , situated at the gateway of Sylhet. active member of Foreign Investors Chamber of Commerce
The vision established a modern independent residential & Industry (FICCI), Executive Member of the Bangladesh
town with a diverse range of world-class civic facilities. Red Crescent Society, Sylhet Unit and Mujib-Jahan Blood
With strong entrepreneurial and leadership skills, he was Bank. He has a deep interest and passion in participating in
able to encourage the NRB’s (Non Resident Bangladeshi) social and community interest projects that help improve
unfamiliar with the commercial landscape of Bangladesh to the socio-economic prosperity of Bangladesh as a whole.
invest in their home nation of origin. Mr. Faisal Chowdhury is well travelled with a good
Recently he has established an international standard understanding of the diversity of culture. He has visited
educational organization, by the name of Royal Educare several countries including India, China, Thailand,
Limited (REL) in Bangladesh. Currently REL includes Singapore, Hong Kong, Malaysia, Saudi Arabia, Canada,
Eurokids Kindergarten and Royal Institute of Smart Austria, Germany, UK and USA. He regularly attends
Education (RISE) primary & secondary school. RISE School business seminars and international exhibitions throughout
incorporates the world renowned Cambridge University the world and has built high level international networks to
Curriculum. The future vision of REL is to develop the take Bangladeshi businesses into global level.
educational standards of the youth of Bangladesh with the
Engr. Md. Ahsanul Kabir Abdul Bari
Vice Chairman Vice Chairman
E A
ngr. Md. Ahsanul Kabir has vast experience of lhaj Abdul Bari is a prominent businessman. He
30 years in civil Engineering technology and started his business career in the tourism sector
whole civil construction of Baraka Power Limited in the early 1970’s. Later he entered into the
(Fenchugong 51 MW) is completed under his Garments business and has also invested in other
technical assistance and related additional other business sectors such as Medical College &
drawing & design. He is the CEO and Director of Hospital, Pharmaceuticals, Property Business etc.
Syltop Associate Pvt. Limited, a leading property He also has other business interests in UK.
developer in Sylhet. A project of Syltop is ‘Rong
Mohol Tower’ at Bandar Bazar, Sylhet. He is also
the Chief Engineer of Architects and Builders.
He has been awarded in national science fair at Dhaka at
his early age. He was also a Hawain Guiter Radio artist in
his student life. He innovate different technical knowhow
in the civil engineering construction work. Now-a-days he
is working with alternative source of energy for power. He
continuous to succeed in business.

Nanu Kazi Mohammed Miah Dr. Tofayel Ahmed Ph. D

Director Independent Director
N P
anu Kazi Mohammed Miah was born in Sylhet, rofessor Dr. Tofayel Ahmed was appointed
Bangladesh. At a very early age, he settled in to the Board as an Independent Director on
England, where he completed his education August 13, 2011. He is the Head of the Dept. of
in Business Management. After completing Business Administration at North East University
his education, he decided to devote himself in Bangladesh. He has 35 years of knowledge and
business. In 1984, he started his first restaurant experience of teaching and writing on Business
business in Henley-in-Arden which became Administration. He has contributed 23 research
very successful. From there he was able to articles on different issues of business to both
establish a successful restaurant business hub national and international journals. He has
in UK. Moreover, he engaged himself in various visited a number of countries and has attended
businesses in Bangladesh such as the Airlines and varrious foreign conferences. He holds a PhD
the Power Sectors. from the University of Chittagong on the
thesis topic of “Productivity and Profitability
of the private Sector Cotton Spinning Mills of
Bangladesh.”
Abdus S Majid
Independent Director
A
bdus S Majid was born in Sylhet in 1963. He
completed his education on Bachelor of Business
Administration. He started his career in the
service sector. He was a licensed stockbroker
and Sales Executive of Life Insurance Company
of USA and also a Real Estate agent. Thereafter,
he started business and became Director of a
local reputed Insurance Company. Moreover,
he engages himself in various businesses such
as Investment and Assets Management, power
sector and financial sector etc.

Gulam Rabbani Chowdhury

Director & Managing Director
G
ulam Rabbani Chowdhury was born in 1966 established an innovative and unique large scale townscape
& brought up in a respectable family. He vision by the name of “Royal City” in Sylhet, on 2006 which
successfully completed his Graduation in Science is a project of Royal Homes Limited. It has made a significant
at MC College, Sylhet under the Chittagong impact in the future of Sylhet as a fast developing city,
University. As a natural visionary entrepreneur providing world class residential and commercial facilities.
with high ambitions, he has built several Developing his entrepreneurial vision further afield, he
successful businesses across a variety of business ventured into the power generation sector. Combined with
sectors with a specialist focus in the Industrial huge capital intensive investment, high risk and extremely
Sector. complex industrial processes he established Baraka Power
Mr. Chowdhury started his Business career as Managing Limited (formerly Barakatullah Electro Dynamics Limited).
Director by establishing Alim Industries Ltd. (An agricultural The Company profitably supplies power to the Government
machinery manufacturing company) in the early 1990’s. His of Bangladesh. Situated in Fenchuganj, Sylhet, the plant
enthusiasm, hard word, dedication, dynamism, foresight is powered by General Electric (GE) installed generators
and skilled leadership took the company into one of the top producing 51 MW of power and has been operational
rated company in the Agro Machinery Manufacturing sector. since 2007. With the first power plant in profitability, Mr.
As a result, the company achieved a Presidential Award Chowdhury successfully took the private company to IPO
as a leading Agricultural Machinery Manufacturer of the flotation, listing it on both Dhaka and Chittagong Stock
company in the Bengali year 1395. Exchanges in Bangladesh.
He undertook overseas training, specializing in metallurgy With the efforts of Mr. Chowdhury, the success story of
& manufacturing process, gaining a deep understanding and Baraka Power set a new milestone for NRB investors,
knowledge of industrial manufacturing and development. encouraging them to make further investment in the power
Under his prudent and entrepreneur leadership, he has taken sector. In 2011 Baraka Power signed a second PPA & IA to
business from start up to profitable growth over the many build a 50 MW power plant at Patenga, Chittagong which has
years since completing his studies. His business successes been continuously supplying electricity to the national grid
have had a significant impact on the socio-economic since the 4th May 2014. This has helped to support the socio-
prosperity of Bangladesh. As a result of the numerous economic development of the nation.
business successes across a variety of sectors, Mr. Chowdhury During his career, Mr. Chowdhury identified the lack of
has received many accolades and corporate awards. high international standard educational facilities in Sylhet.
With a group of NRB investors Mr. Chowdhury successfully Along with a consortium of NRB investors, he has been a
key figure in establishing a leading educational organization
by the name of Royal Educare Limited which aims to raise
children with the highest standards of education. REL
currently comprises of educational facilities from Eurokids
Kindergarten, a European model kindergarten up to and
including primary and secondary schooling in RISE (Royal
Institute of Smart Education). RISE school has incorporated
the world respected and renowned Cambridge Curriculum.
The Cambridge body has approved RISE as one of the best
technology based premium international schools in the
country, located in the heart of Sylhet.
Mr. Rabbani is a reputable business leader and is highly
respected in the Bangladesh financial markets. He has
developed a strong and high level international network
of business relations with the aim of develop businesses in
Bangladesh to enter the global market place.
Whilst he continues to establish successful business, Mr.
Rabbani holds dear to his heart the most important work
which needs to be done to enhance the education and health
and living standards of the poor and needy throughout
Bangladesh. He contributes significantly in many ways to
these major and most important issues that Bangladesh is
facing.
He has visited many countries for business purpose
attending seminars and international conferences and
exhibitions in India, China, Thailand, Maldives, Malaysia,
Singapore, UAE, Denmark, Germany, France, UK, Morocco,
Turkey, USA, Canada and Australia.

Message from the Chairman
...we are seeking to diversify our business

interests, as we venture in to the
global garments industry. We are aiming to
build a world class Leeds Gold
Certified Ready Made Garments factory
that will house nearly 3000 employees
and serve the global market with high
quality garments.
Faisal Ahmed Chowdhury
Dear Shareholders
It is my pleasure to welcome you to the 9th Annual has been an overall great achievement for our
General Meeting (AGM) of Baraka Power Limited. company as it is for the first time in Bangladesh
As always and on behalf of the Board, I would like that we have established such a high environ-
to offer my innermost appreciation and gratitude mental standard set by the World Bank. We have
to you, our esteemed shareholders, for your con- praised by a various onlookers for demonstrating
tinued support and cooperation. innovation as a leading power generation supplier.
The Company has completed another year of over- With an ambitious and entrepreneurial spirit, we
all good performance, which is the best ever result are now at the cusp of advancing further as we ex-
of the Company in very challenging circumstances. plore new opportunities for the profitable growth
It is to the great credit of our people, our Board of of the company. We are seeking out more power
Directors, our Executive Committee Members and plant projects to expand our portfolio. In addition,
especially our talented work force that led the busi- we are seeking to diversify our business interests,
ness to deliver such a desirable result. as we venture in to the global garments industry.
We are aiming to build a world class Leeds Gold
This annual report sets out a full overview of our Certified Ready Made Garments factory that
vision, aims and achievements as a company and will house nearly 3000 employees and serve the
I hope you will take the time to review the report global market with high quality garments. We
carefully so you can see how we are succeeding have already secured land and we are in the midst
and implementing our vision for Baraka Power. of the construction ophase of the project. This is a
Baraka Power’s Fenchuganj plant has been op- new sector where we are confident of success and
erational and profitable for many years now and we look forward to seeing this new business arm
continues to deliver profitable returns for our in our portfolio flourish.
company. We have established a safe and stable We are truly a forward thinking and pioneering
operation, a highly skilled and expert workforce, company with a clear vision set on profitability as
and we operate this plant to an excellent standard. well as improving the socio-economic prosperity
By the grace of Almighty Allah, our subsidiary com- our beloved nation, Bangladesh.
pany, Baraka Patenga Power Limited, 50 MW HFO On that positive note, I would like to thank all
fired power plant in to full swing operation through- my colleagues on the Board for their continued
out the year. It has been a tremendous challenge to support and encouragement. I would also like to
run smoothly such a complicated project and again I convey my sincere gratitude to related govt. insti-
am sincerely thankful to the dedicated Baraka Power tutions, suppliers & customers for their continu-
team and to our honorable shareholders. ous support.
Baraka Patenga Power Ltd’s 50 MW Power plant Finally, my most sincerest and heartfelt gratitude
is successfully generating and supplying the to the shareholders of our company who have
required electricity to the national grid of Bang- helped us achieve business success.
ladesh. The plant is operating extremely well and
we are pleased with what we have been able to Thank you.
achieve in a very short space of time.
I feel honor to inform you that we are committed
to keep our plant ambience with green energy and
environment friendly. In this connection, We are
continuing to operate the environmentally ben-
eficial Desulphurization System (FGD) in Baraka Faisal Ahmed Chowdhury
Patenga 50 MW Power Plant in operation. This Chairman

Message from the Managing Director
... another successful year with

earnings per share of BDT 2.00, an increase
of 24% over last year. However,
the year 2015-2016 has been tough for us
due to many external challenges.
It is to the credit of our Board,
Executive Committee Members, excellent
Team members and distinguished
shareholders who have led the business
to deliver a positive result.
D ear D isting u ished S hareholders ,
It is my great pleasure and honor to welcome you all to the We have developed a good training and development scheme to
9thAnnual General Meeting of Baraka Power Limited. On behalf ensure we are set for development and growth of the company
all of the Board of Directors, and myself I would like to share my as we begin to expand our business portfolio in the ever-chang-
views with all stakeholders of our Company. ing business landscape. Our ambitions are high and our future
The Company Management is proud to report another success- is planning for further growth and expansion.
ful year with earnings per share of BDT 2.00, an increase of You may be aware that Bangladesh is now a leading force in the
24% over last year. However, the year 2015-2016 has been tough global garments industry. Global insutry experts are expecting
for us due to many external challenges. It is to the credit of our Bangladesh to be the leading manufacture of RMG in the world
Board, Executive Committee Members, excellent Team mem- by 2020. We have therefore widened our business portfolio to
bers and distinguished shareholders who have led the business achieve even greater success for our shareholders by venturing
to deliver a positive result. in to the garments industry. We have designed unique world
Our Subsidiary company, Baraka Patenga Power Plant also con- class, Leeds Gold Standard RMG factory. The factory is based
tinues to deliver strong financial results and is performing excel- in Habiganj, Sylhet; an up and coming industrial zone. We ex-
lently. As you will see for the consolidated financial statements pect to see the factory open in December of 2017 with all being
presented to you, we have surpassed our previous year’s finan- well. We have recruited the best talent to oversee and operate
cial performance. Net Asset Value Per Share (NAVPS) of Baraka the factory and we are looking forward to seeing good results in
Power and its subsidiaries stands to BDT 19.86, an increase of this booking industry,. We are also continuing to seek out new
2.42% over last year. Despite the fixed tariff rate, company is opportunities to develop more power plants with our high level
increasing earnings and maximizing wealth which clearly shows of skill, expertise and experience in this sector.
the outstanding performance of management team. We have As a company we continue to strengthen our financial status. We
learnt much from the whole experience of constructing and are highly respected as a successful and reputable business with
operating the two power plants effectively. As a result, consoli- the Dhaka and Chittagong Stock Exchange, banks and other
dated cost of sales and general & administration expenses are financial institutions. This is a testament to the way we have
decreased 35% and 06% respectively over the last year. established our organization and the management team that
After the World Bank extended their hand to finance the drive the company forward. We always operate with Honesty
Patenga power plant through Bangladesh Bank, our company and Integrity will always continue to do so.
is benefitting from a term finance of USD 21.975 million at an We are proud that our Company is a law-abiding entity which
much lower finance cost than the cost applicable in the Country. displays an unwavering commitment to the country, setting the
As part of our philosophy, we believe in environmentally and Company apart from other business. The Company will con-
socio-economically beneficial projects. Our plants and projects tinue to support Government proposals that establish a sustain-
are built with a focus on reducing effluents and emission, as well able development for the power sector in Bangladesh.
as maintaining an ecological balance. Finally, I express my heartfelt thanks to all the stakeholders
We are now looking forward to taking our successful and of the Company for their confidence in us and their valuable
profitable power plant company, Baraka Patenga Power Plant contribution to the Company throughout the year. We believe
Limited to IPO and listing it on the Dhaka and Chittagong Stock passionately in building value for the Government of Bangla-
Exchanges soon. This will be extremely beneficial to all of our desh and Shareholders.
shareholders and we look forward to updating you further on Thank you all.
developments. Asslamualaikum
You will be delighted to know that we are a highly experience,
skilled and expert organization. We have invested in develop-
ing the most important element of our company; our people.
Our people are the keystone of our success and we are always Gulam Rabbani Chowdhury
seeking ways to improve and enhance their skills and expertise. Managing Director

Profile of the Senior Team Members
a b
c d e
a. Fahim Ahmed Chowdhury

Deputy Managing Director & Head of Finance
b. MOnzur Kadir Shafi
f g Deputy Managing Director & Head of Finance (BPPL)
c. Nazmul Hassan Choudhury
Chief Operating Officer (COO)
d. Jalal Ahmed Chowdhury
Technical Consultant
e. MOhammed Monirul Islam
Company Secretary
f. Md. Shariful Alam
General Manager (Operation & Maintenance)
g. Monowar Ahmed
Deputy General Manager –Commercial
Fahim Ahmed Chowdhury He belongs to a Muslim family in Sylhet. His father,
Deputy Managing Director & Head of Finance Late Muhibur Rahman Chowdhury and his family also
Fahim A Chowdhury is a reputed businessman. He is a influenced him to be a successful business entrepreneur.
person with strong vision and management skills. After But his desire to enter into Hospitality industry from a
completion of his graduation he began his career at simple life in Sylhet to United States of America and to gain
Birmingham airport, GAP flagship & TFL in order to gain recognition in the society was purely because of his hard
experience in customer service. He then started different diligent work and his persistent in becoming successful.
businesses such as a fast food takeaway restaurant, money Mr Shafi believes in calculated risk taking, self-confidence,
transfer & travel agent and real estate business etc. in persuasion, innovation, the capacity to cope with
London. He completed his MBA in Human Resources challanges, hard work and commitment. These are the
Management and also achieved BTEC qualification in factors which contribute to the success of Mr. Shafi as an
customer service while working for the City Council of entrepreneur. He gives maximum importance to good
London. This has helped him achieve vast knowledge in judgement, time, cost & quality management of the project
building community relationships as well as enhansing his he gets involved in. After obtaining diversity knowledge and
managerial skills. experience in different field of business, he joined Baraka
In the spirit of contributing to the development of the Patenga Power Limited (BPPL) as Project Director. He has
motherland, he moved to Bangladesh in 2008 and joined excelled and is now Deputy Managing Director & Head of
as a Project Director to Baraka Power and subsequently Finance of BPPL.
he took the responsibility of Deputy Managing Director &
Head of Finance. Nazmul Hassan Choudhury
He is the EC member of RISE & Eurokids school and also BEng (Hons) Civil engineering, MBA (Cranfield)
serving as the Managing director of Queens Healthcare Ltd. Chief Operating Officer (COO)
Fahim A Chowdhury is also involved in many charitable Naz Choudhury is the Baraka Group’s Chief Operating
organizations. He is the PP of the Rotary club of Sylhet Officer (COO) in charge of corporate strategy, planning
Sunshine and President of Nirjar Shahitta Shongcriti and operations for the Baraka Group of Businesses. He
Crira Shongtha. He is also a life member of Sylhet Ideal is responsible for overseeing and directing business
Society,Baraka Foundation & Baraka Arabic Learning Centre. interests in not only the Power and Garment sectors, but
also developing new business ventures and exploring
diversification opportunities.
MOnzur Kadir Shafi
Best described as a multi-disciplined corporate
Deputy Managing Director & Head of Finance (BPPL)
entrepreneur, Naz Choudhury excels at building powerful
Mr. Manzur Kadir Shafi is a first generation entrepreneur high-level winning teams to deliver results. Coordinating
who partnered with two other young business professionals all functions including finance, sales and marketing,
at a young age to start a hospitality business in Hamtramck, operations, HR and administration across a corporate
Michigan, in 1998. structure, he has an entrepreneurial spirit and a particular
Mr Shafi, graduated in 1991. To sharpen his skills, he eye for innovation, creativity, branding and marketing.
obtained multiple training in hospitality business on a Naz has worked across the business spectrum working
global scale. His first venture into the business started in in both private and public sectors as well as owning and
New York City where he quickly turned marketing skills running several businesses.   
into new business entrepreneurship and his ‘experiment’
After completing a BEng (Hons) as a Civil engineer,
in Michigan earned him credits and accolades from all
he started his career as a Civil Engineer working on a
including the Better Business Bureau of Michigan and
variety of major public and private sector projects. These
Detroit News. His interest in US politics also allowed him to
include London Underground/Jubilee Line Extension
be known by notable politicians in Michigan, like Senator
project, Thames Water Flood Alleviation Schemes and
Carl Levin, Senator Gary Peters and US Congressmen
for Southwark Council, Regeneration and Environment
Hansan Clark, John Conyers and others. His success in the
department in the UK. He moved on in his career as an
restaurant business, earned him an interview with CNN,
entrepreneur, developing business interests in retail and
which was telecasted globally.

To reduce any chance of
disturbances the company has enter a
spare parts supply contract for a
period of 15 years with GE
Jenbacher. Furthermore the
management of the company is very
serious about timely maintenance
of the machineries.
Profile of the Senior Team Members
land and property development in the UK and abroad. MOhammed Monirul Islam
In 2000, Naz completed his MBA at the globally reputed Company Secretary
Cranfield School of Management and was commended for Mr. Mohammed Monirul Islam is a professional in
leading a high-level team of professional to victory at the Finance & Accounting , having specialization on financial
Oxford University’s VentureFest Business Plan of the Year feasilibilty, portfolio management, company law and project
in 2001. He was also runner up in the European Business management. Mr. Monir was born and brought up in a noble
schools, Business Plan of the Year in the same year. familyin Comilla in 1973. He completed his Bachelor of
Following his MBA, Naz set up and developed businesses Commerce under University of Dhaka in 1992 and Masters
in the retail and property sectors. In 2005 he was awarded of Commerce under University of Dhaka in 1994. He also
the Wandsworth Business of the Year prize for successfully completed his Chartered Accountancy Course in 1998 from
launching a new retail food concept. B. Alam & Co. , one of the leading Chartered Accountancy
firms in Bangladesh. Furthermore, he obtained a MBA
Naz has also worked with the globally respected M&C
degree in finance in 2007. Mr. Monir has accumulated
SAATCHI on creative marketing and advertising strategies
more than 19 years experience in different large private
for super brands such as Porsche, Ribena and Orange
organizations namely Rangs Group, Summit Power Limited.
telecom. Naz was also the Operations Director at the
Currently he is working with Baraka Power Limited as
Association for Consultancy and Engineering (ACE), a
Company Secretary.
representative body and trade association for the £9Billion
engineering consultancy industry.
He currently holds non-exec directorial roles with a variety Md. Shariful Alam
of charities, NGO and projects, which he is passionate General Manager (Operation & Maintenance)
about. Notably, Naz was a board member of ADVANCE UK Engineer Md Shariful Alam has vast experience in Merchant
who support more than 5,000 people including disabled Marine and in HFO & Gas based Power plants. He has obtained his
people and people mental health conditions and learning Marine engineering from Bangladesh Marine Academy, a branch
disabilities to live the life they choose, however varied or of Swedish Malmo University. He then studied in UK and achieved
complex that life may be. Class -1 Certificate of Competency. He did Master in Business
Naz is keen on supporting causes, which positively embrace Administration from a renowned university in Bangladesh. Mr.
disability, diversity, and equal opportunities. He is married Shariful started his career with Bangladesh Shipping Corporation
and with children and enjoys travelling having visited. more and continued with Neptune Orient Lines, a government
than 40+ countries. His other personal interests include shipping lines of Singapore, until he completed his sea career, he
cycling and reading history and culture.   has worked with Covanta Bangladesh Operating Ltd., 110MW
barge mounted power plant, an US based power company . Mr.
Shariful has worked with Clarke Energy & Orient Energy as head
Jalal Ahmed Chowdhury of service/product support. An authorized distributor & service
Technical Consultant provider of GE Jenbacher Gas Engines to provide technical
Mr. Jalal Uddin Ahmed Choudhury, Ex. Member- support to customer in respect of commissioning, operation &
Generation of BPDP, was born and brought up in Sylhet. maintenance and parts supply.
He earned his Bachelor Degree (BSc Engg. in Mechanical)
from Chittagong Engineering College in 1978. From the Monowar Ahmed
beginning of his career he had worked in BPDB at different Deputy General Manager –Commercial
power stations like Ghorasal, Sikalbaha, Siddhirganj etc.
Later, he also worked as Project Director at Fenchuganj Mr. Ahmed achieved his Commonwealth Executive MBA
90MW Combined Cycle Power Plant and Karnaphuli Hydro (CEMBA) degree from the Bangladesh Open University
Power Station Rehabilitation Project. He also won Best (BOU). He gathered 17 years of working experience in
Project Director Award in year 2008-2009 from Ministry the field of Planning, Business Development and Project
of Power. Since September 2014 he has been engaged with Implementations. He spent 9 years in Summit Power
Baraka Power as Consultant. Limited and then joined Baraka Power Limited where he is
now Deputy General Manager, Commercial.

Directors’
Bismillahir Rahmanir Rahim
Dear Shareholders,
Assalamualykum,
Report to the O
n behalf of the Board of the Directors and
Management, I delightfully welcome you
all to the 9th Annual General Meeting of
Baraka Power Limited. We are pleased to
present herewith the Directors’ Report on
operational activity of the company and
Shareholders
the Auditors’ Report along with the Audited
Financial Statements of the Company for the
year ended June 30, 2016 thereon, for your
valued consideration, approval and adoption.
For the year ended June 30, 2016 Corporate Governance

The Corporate Governance refers to the processes,
structures, and information used for directing and
overseeing the management of the company. The
Corporate governance framework establishes the
mechanisms for achieving accountability between the
Board, senior management and shareholders, while
protecting the interests of relevant stakeholders. It also
sets out the structure through which the division of
power in the organization is determined.
It clearly defines the responsibility of the management to the shareholders and also to the employees of the company. A
separate chapter of Corporate Governance has been reported in Annexure-1.
Corporate Social Responsibility

Corporate social responsibility is described as the body of management systems and tools that help companies minimize
their environmental impact, adhere to labor standards, contribute to the communities and manage toward a more
economically sustainable society.
Additional Directors’ Responsibilities towards Shareholders

In compliance with the requirements of the SEC’s Notification No. SEC/CMRRCD/2006-158/134/Admin/44 dated August
07, 2012, the Directors are responsible for the governance of the Company and in that capacity, the Directors confirm, to the
best to their knowledge that-
(i) Industry Outlook and future development:
The Board is pleased to inform you that the existing plant located at Fenchugonj, Sylhet is running excellently. It has
generated 381,678 MwH of electricity and supplied 368,486 MwH to the national grid during the year 2015-2016. By
selling of above units the revenue earned stood at Tk. 841,125,119 in the year 2015-2016.
It is my pleasure to inform you that the 50 MW HFO fired IPP power plant at Patenga, Chittagong, owned 51% equity
by your company named Baraka Patenga Power Limited (BPPL) started its commercial operation on May 04, 2014
and started commercial operation of its secondary Steam Turbine & Generator (STG) having capacity of 3.20 MW
from April 10, 2015. The STG plant runs by heat recovery from 08 nos. of Rolls Royce gensets exhaust gas without
burning any fuel and will reduce the fuel cost by 6.40% annually. The plant has shown excellent performance and
generated 301,508 MwH of electricity and supplying 288,126 MwH to the national grid during the year 2015-2016
with revenue of Tk. 2,119,185,034 during the period ended June 30, 2016.
The company has the plan to expand its business by participating in tender opportunities as offered by Bangladesh Power

Directors’ Report to the Shareholders
For the year ended June 30, 2016
Development Board (BPDB) in the future or any other process set by Ministry of Power, Energy and Mineral Resources.
(ii) Segment wise or Product wise performance:
Licensed Installed Plant Factor (% on Licensed capacity Energy

to the unit of energy sold) Energy Sold
Location of the Plant Capacity Capacity Generation
(MWh)
(MwH) (MwH) Average Maximum (MWh)
Fenchugonj, Sylhet 446,760 483,026 82.10% 96.76% 381,678 368,486
Patenga, Chittagong 438,000 489,421 58.01% 93.56% 301,508 288,126
(iii) Risks and concerns

Interest rate risks
Volatility of money market may influences the overall interest rate structure of the country. On June 30 2016, as the
company has about Tk. 31.19 crore of outstanding loans, any unfavorable change in interest rate structure may affect
the company’s business adversely.
Management perception
The management of the company believes that a rise in interest rates will not substantially affect the company. On
the other hand, if interest rate falls, the company will go for alternative investment schemes to utilize its funds.
Exchange rate risks
The taka has been devalued significantly against dollar and it is very unlikely to appreciate in the near future. However,
the devaluation of local currency against major international currencies will not affect the company’s business.
Since all dues relating to import of machineries and equipments from abroad has been settled, exchange rate risk is
not going to hamper business of the company.
Industry risks
The Company is operating in an industry where there is a huge gap between demand and supply. Although the power
sector is a highly demanding and complecated sector in our country, chances are that excessive competition may
hamper the company’s business.
Currently there is a huge gap between demand and supply of electricity in our country. However, demand for
electricity is increasing drastically day by day. In this situation the chance of excessive competition is low. Moreover
BPDB purchases 100% of the electricity produced by the company at a rate predetermined in the Power Purchase
Agreement which is also adjusted as per consumer price index. Hence, the company is protected against any sort of
loss due to competition or inflation.
Market and technology-related risks
Capacity of generating power is dependent to a great extent on the capacity of its generators. Should there be any
disturbance in the technology used by the company; operation of the company may face major turbulence.
The company is using state of the art technology and modern machines. The plant is comprised of 19 units of
generator sets from the world renowned gas fuelled reciprocating engine manufacturer GE Jenbacher, Austria. Total
not possible. Hence, As far as
national policy is concerned, the
power sector is not going to face
any adverse effect. On the other
hand, chances of global policies
hampering the power sector of
our country is very negligible.
History of non-
operation
If a company becomes non-
operative for some period in its
operating life then the risk of
becoming non-operative in the
future for the same reasons or
other probable reasons should
installed capacity of the plant to providing affordable and be considered carefully.
is 55.14 MW where contracted reliable electricity to all citizens Management perception
capacity is 51 MW of electricity. by 2020 for economic and
To ensure uninterrupted supply social development. Hence, The Company does not have
of electricity the project has management of the company is any history of non- operation
8.11% of reserve margin in confident enough that regarding so no risk should arise in this
production. To reduce any government policy Baraka respect. Moreover the Company
chance of disturbances the Power will not have to face any is trying to expand its business
company has agreed a spare unfavorable situation. by installing more power plants.
parts supply contract for a Thus, chance of becoming non-
Potential changes in operative in the future is very low.
period of 15 years with GE global or national
Jenbacher. Furthermore the policies Operations risks
management of the company Operational risk covers
is very serious about timely Changes in government policy
as well as policy of foreign the ability of the project to
maintenance of the machineries. achieve the performance as
countries may affect adversely
Potential or the business of the company. envisaged. Technology used,
existing government Any structural change in fuel supply arrangement,
regulations power generation industry may operation & maintenance (O&M)
Although existing government adversely affect the business and arrangement and political
rules and regulations are very may have a negative impact on condition are major sources of
favorable for the company, the profitability of the Company. operational risk for the company.
chances are there that the Management perception Management perception
government might take any To mitigate fuel supply problems
policy that may adversely affect Modern life is totally dependent
on electricity. Without Baraka Power Limited has
profitability and operation of the signed a gas supply agreement
company. electricity modern life cannot
be sustained. Without an with Jalalabad Gas Transmission
Management perception uninterrupted flow of electricity, and Distribution Systems Ltd.
The Government is committed development of a country is (JGTDSL) on 22 June 2008

for a term of 15 years in general has operational risk and for this project is
to supply gas in the quite high considering 15 years of operation. However
required quantity and technical expertise availability in the country, supply
specification throughout contract with the vendor as well as reserve margin
the agreement period. of around 8.11% (installed capacity) mitigates the
For O&M of the plant, operational risk to a great extent.
Baraka Power Limited Project duration
has appointed local risk
The company
entered an
agreement with
Bangladesh
Power
Development
Board (BPDB)
with a condition
that the
agreement shall
become effective
upon signing and shall terminate
fifteen (15) years after the
commercial operations date, unless
extended or earlier terminated
pursuant to the provisions of this
agreement.
Management perceives
that there are no
possibilities of early
qualified engineers termination of the
and technicians who agreement as there
have experience to are huge demands for
work in power plants. power in our country.
Moreover the plant The Government
vendor GE Jenbacher of Bangladesh is
GmbH & Co. will supply all necessary spare encouraging more local
parts for a period of 15 years with 1 year entrepreneur to invest in this sector to
warranty period from the date of delivery. meet up demand and supply gap. Moreover, at present
During major overhaul, Baraka Power Limited the scarcity of power suggests that the power crisis
will engage GE Jenbacher GmbH & Co. to provide will remain as the economy of Bangladesh is growing
overhaul services. As the company installed 19 units and demand for power and electricity is increasing. So
of generators, electricity supply will not be hampered there is scope of extension of the term of the current
to a great extent even at the time of scheduled agreement subject to approval of BPDB.
maintenance or any minor problem. Power project
(iv) Cost of Goods Sold, Gross Margin and Net Profit Margin:
Deviation
Particulars June 30, 2016 June 30, 2015
Amount Percentage
Revenue 841,125,119 822,474,971 18,650,148 2.27%
Cost of Sales 350,850,772 372,185,207 (21,334,435) (5.73%)
Gross Profit 490,274,347 450,289,764 39,984,583 8.88%
Net Profit After Tax 331,664,596 266,056,013 65,608,583 24.66%
Gross Profit Margin (%) 58.28% 54.75% 6.45%
Net Profit Margin (%) 39.43% 32.35% 21.88%
Above chart shows that Net profit margin is increased by 21.88% whereas revenue increased by 2.27% in the year
2015-2016 to 2014-2015.
(v) Other income of Tk. 4,790,357 is generated by the company from receivables with the related parties.
(vi) Related Party Transaction
A. During the year, the Company carried out a number of transactions with related parties in the normal course
of business. The names of the related parties and nature of these transactions have been set out in accordance
with the provisions of BAS 24 : Related Party Disclosures.
Transactions with key management personnel:
30-06-16 (Taka) 30-06-15 (Taka)
Employee Benefits 20,451,270 18,222,000
Total 20,451,270 18,222,000
Key management personnel includes Chairman & Head of Planning & Business development, vice Chairman & Head
of Administration, Managing Director, Director-Finance, Company Secretary, GM-O&M and DGM-Commercial.
B. Other Related Party Transactions
Transactions during the year Receivables/(Payables)
Name of the Related Nature of
Nature of Relationships 30-06-16 30-06-15 30-06-16 30-06-15
Party Transactions
Taka Taka Taka Taka
Baraka Patenga Power
Subsidiary Company Short Term Loan 195,491,226 518,208,299 - 99,591,438
Limited
Advance for
Royal Homes Limited Common Management 14,400,000 8,900,000 - -
Commercial Space
Royal Educare Limited Common Management Short Term Loan 36,031,908 - 36,031,908 -
Karnaphuli Power Limited Common Management Short Term Loan 406,731 - 406,731 -
Baraka Apparels Limited Common Management Short Term Loan 80,683,242 - 80,683,242 -
(vii) Utilization of IPO Proceeds:
By utilizing the Net IPO proceeds, the company has paid off its term loan of Tk. 740 million and another 400 million was
invested in the subsidiary company which generates net profit of Tk. 286 million from during the period ended June 30, 2016.
(viii) After the company goes for Initial Public Offering (IPO), there is no significant variation shown in the financial results.
(ix) Quarterly performance of the company in line with the Annual Audited Financial Statements.

(x) Director’s Remuneration (xv) The system of internal control is sound in design and
Payment to Directors during the year ended June 30, 2016 has been effectively implemented and monitored;
Name Designation Period 30-06-2016 30-06-2015 (xvi) There are no significant doubts upon the company’s
Chairman & Head of ability to continue as a going concern;
July’15 to
Mr. Faisal Ahmed Chowdhury Planning & Business
June ‘16
4,305,000 3,960,000 (xvii) Significant deviations from last year in operating
Development
July’15 to
results of the company has been highlighted and
Mr.Gulam Rabbani Chowdhury Managing Director 4,305,000 3,960,000 reasons thereof have been explained in financial
June ‘16
Vice-Chairman
July’15 to results & profit appropriation;
Mr. Md. Ahsanul Kabir & Head of 2,340,000 2,112,000
Administration
June ‘16 (xviii) Key operating and financial data of last five years has
Total 10,950,000 10,032,000 been annexed;
In Addition to the above, directors who attend the board (xix) The board of directors of the company has
meeting, have drawn board meeting attendance fee recommended 15% cash and 5% stock dividend for
@ Tk.5,000 per director per meeting. The total board the year ended June 30, 2016;
meeting attendance fee during the year is Tk. 218,750. (xx) The number of Board meetings held during the year
(xi) The financial statements prepared by the and attendance by each director has been disclosed in
management of the company present fairly its state Annexure II.
of affairs, the result of its operations, cash flows and (xxi) The pattern of shareholding has been reported in Annexure-
changes in equity; III to disclose the aggregate number of shares;
(xii) Proper books of account of the company have been (xxii) No changes have been made to the Board of Directors
maintained; during the year 2015-2016.
(xiii) Appropriate accounting policies have been
consistently applied in preparation of the financial Financial Results & Profit Appropriation:
statements and the accounting estimates are based on In the year 2015-2016, financial performance of your
reasonable and prudent judgment; company shows tremendous results from previous year.
(xiv) International Accounting Standards, as applicable in
The Directors take pleasure in reporting the financial
Bangladesh, have been followed in preparation of the
results of the company for the year ended June 30, 2016 and
financial statements and any departure therefrom has
recommended apportion of retained earnings as mentioned
been adequately disclosed;
below:
Amount in BDT
June 30, 2016 June 30, 2015
Profit available for appropriation
Profit after tax 331,664,596 266,056,013

Prior year’s adjustment - -
Add: Undistributed profit brought forward from previous year 298,834,480 255,674,987
Total amount Available for Appropriation 630,499,076 521,731,000
Appropriation
Final dividend for the year 2013-2014 (@ 17% stock ) - (222,896,520)
Final dividend for the year 2014-2015 (@ 08% stock & 08% cash) (245,448,402) -
Closing Retained Earnings at year end (before proposed dividend) 385,050,674 298,834,480
Proposed dividend for the year 2015-2016 (@ 05% stock & @ 15% Cash) (331,355,344) -
Retained Earnings after Proposed Dividend 53,695,330 298,834,480
Dividend:
Your Board has recommended 15% cash (Tk 1.5 per share of Tk. 10 each) and 5% stock dividend (5 shares for every 100
shares held) on 165,677,672 ordinary shares of Tk. 10 each for the year ended June 30, 2016 subject to approval by the
shareholders at its 9th Annual General Meeting.
Board Meeting & Attendance:

During the year ended June 30, 2016, a total of 08 meetings were being held by the Board of Directors. Directors who have
attended the Board meeting are shown in Annexure II of this report.
Directors’ appointment & re-appointment:

As per Article No. 112 of the Article of Association of the company following Directors shall retire in the 9th Annual General
Meeting by rotation and being eligible, offer them for re-election:
01. Nanu Kazi Mohammed Miah
02. Robin Choudhury
Auditors:
M/S Malek Siddiqui Wali Chartered Accountants, 9-G, Motijheel C/A, 2nd Floor, Dhaka-1000 was appointed as the auditor
of the company in its 8th AGM held on December 31, 2015. They have carried out the audit for the year 2015-2016 and will
retire in the 9th AGM. M/S Malek Siddiqui Wali Chartered Accountants have expressed their willingness for reappointment
for the year 2016-2017. As recommended by the Board, the resolution to reappoint M/S Malek Siddiqui Wali Chartered
Accountants as auditor for the year 2016-2017 will be placed at the forthcoming Annual General Meeting of the company.
Audit Committee
An Audit Committee has been formed by the Board of Directors at its meeting held on August 13, 2011, which consists
of three members from the board including an Independent Director and company secretary of the company to act as a
member secretary of the committee. The Audit Committee is responsible for reporting to the Board. The committee assists

the Board in discharging its supervisory
responsibilities with respect to Internal
Control, Financial Reporting, Risk
management and Auditing matters.
Acknowledgement:
Finally, the Board of Directors would like
to place on record its deep gratitude to the
humble shareholders for their kind co-
operation and support towards the business
of the company.
The Board would like to express their
grateful appreciation for the assistance and
co-operation received from Bangladesh
Power Development Board (BPDB),
Power Cell of the Power Division,
MPEMR, Jalalabad Gas T&D System
Ltd., Banks & Financial Institutions,
Insurance Companies, Service Providers,
the Bangladesh Securities & Exchange
Commission (BSEC), Registrar of Joint
Stock Companies & Firms, Dhaka Stock
Exchange Limited (DSE), Chittagong
Stock Exchange Limited (CSE), various
Government Authorities, Individual and
Agencies.
The Board of Directors would like to put
on record its deep appreciation of the
efforts made by the employees of the
company. Their commitment and passion,
both individually and through teamwork
have helped to the company to achieve the
success that it is today.
We look forward to even better days ahead.
On behalf of the Board of Directors

Managing Director

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2. wefvM Abymv‡i A_ev Drcv`b Abyhvqx Kvh©µg:
Licensed Installed Plant Factor (% on Licensed capacity Energy
to the unit of energy sold) Energy Sold
Location of the Plant Capacity Capacity Generation
(MWh)
(MwH) (MwH) Average Maximum (MWh)
Fenchugonj, Sylhet 446,760 483,026 82.10% 96.76% 381,678 368,486
Patenga, Chittagong 438,000 489,421 58.01% 93.56% 301,508 288,126
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4. wewµZ c‡Yï LiP, †gvU jvf gvwR©b Ges bxU jvf gvwR©b
Deviation
Amount Percentage
Revenue 841,125,119 822,474,971 18,650,148 2.27%
Cost of Sales 350,850,772 372,185,207 (21,334,435) (5.73%)
Gross Profit 490,274,347 450,289,764 39,984,583 8.88%
Net Profit After Tax 331,664,596 266,056,013 65,608,583 24.66%
Gross Profit Margin (%) 58.28% 54.75% 6.45%
Net Profit Margin (%) 39.43% 32.35% 21.88%
Dc‡iv³ QK wb‡`©k K‡i †h 2015-2016 A_©eQ‡i bxU gybvdv e„w× †c‡q‡Q 21.88% ‡hLv‡b weµq e„w× cvIqvi cwigvY 2.27%
5. mvewmwWqvix †Kv¤úvbxi †`bv †_‡K D³ A_©eQ‡i Ab¨vb¨ Avq eve` 47,90,357 UvKv Avq n‡q‡Q|
6. Ab¨vb¨/mswkó c‡¶i m‡½ †jb‡`bt
(K) eQi Ry‡o eëmvi LvwZ‡i †Kv¤úvbx Ab¨vb¨ c‡¶i mv‡_ AmsL¨ †jb‡`b K‡i‡Q | weGmG-24 Abyhvqx †jb‡`bK…Z c‡¶i bvg I †jb‡`‡bi cÖK…wZ
wb‡gœ ewb©Z njt
30-06-16 (Taka) 30-06-15 (Taka)
Total 20,451,270 18,222,000
Key management personnel includes Chairman & Head of Planning & Business development, vice Chairman & Head of Administration, Managing
Director, Director-Finance, Company Secretary, GM-O&M and DGM-Commercial.
(L) Other Related Party Transactions

Name of the Related Party Nature of Relationships Nature of Transactions 30-06-16 30-06-15 30-06-16 30-06-15
Taka Taka Taka Taka
Baraka Patenga Power Limited Subsidiary Company Short Term Loan 195,491,226 518,208,299 - 99,591,438
Advance for
Royal Homes Limited Common Management 14,400,000 8,900,000 - -
Commercial Space
Royal Educare Limited Common Management Short Term Loan 36,031,908 - 36,031,908 -
Karnaphuli Power Limited Common Management Short Term Loan 406,731 - 406,731 -
Baraka Apparels Limited Common Management Short Term Loan 80,683,242 - 80,683,242 -
7. AvBwcI ‡_‡K cÖvß A‡_©i eënvit

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8. AvBwcI†Z hvIqvi ci †Kv¤úvbxi Avw_©K djvd‡j †Zgb †Kvb ¸iZ¡c~b© cwieZ©b nqwb|
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10. cwiPvjK gÛjxi cvwikªwgKt

Ryb 30, 2016 Bs ch©šÍ cwiPvjKgÛjxi cvwikªwg‡Ki cwigvYt
Name Designation Period 30-06-2016 30-06-2015
Mr. Faisal Ahmed Chowdhury Chairman & Head of Planning & Business Development July’15 to June ‘16 4,305,000 3,960,000
Mr.Gulam Rabbani Chowdhury Managing Director July’15 to June ‘16 4,305,000 3,960,000
Mr. Md. Ahsanul Kabir Vice-Chairman & Head of Administration July’15 to June ‘16 2,340,000 2,112,000
Total 10,950,000 10,032,000
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UvKv wn‡m‡e me©‡gvU 218,750/- UvKv cÖ`vb Kiv n‡q‡Q|
11. †Kv¤úvbx eë¯’vcbv gÛjxi Øviv ˆZixK…Z †Kv¤úvbxi Avw_©K weeibx †Kv¤úvbxi Kvh©µg, †jb‡`b I `vq ‡`bv m¤ú‡K© cwi®‹vi aviYvi cÖwZdjb N‡U|
12. †Kv¤úvbx h‡_vchy³ wnmvei¶b c×wZ Abymib K‡i|
13. evwl©K cÖwZ‡e`b ˆZix‡Z †Kv¤úvbx Dchy³ wnmvei¶b c×wZ wbqwgZ Abymib K‡i G‡m‡Q| wnmve ˆZix‡Z, wnmve Abyaveb Ki‡Z h‡_vchy³ I
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cÖKvk Kiv n‡q‡Q|
15. Avf¨šÍixY wnmve wbqš¿b LyeB cÖwµqv gvwdK Ges mdjZvi mv‡_ Zv ev¯Íevqb I ch©‡e¶b Kiv n‡q‡Q|
16. †Kv¤úvbxi Pjgvb cÖwµqvi m¶gZvi wel‡q we›`ygvÎ m‡›`n †bB |
17. weMZ eQ‡i †Kv¤úvbxi Kg©cwiPvjbvi ¸iæZ¡c~Y© wePz¨wZ Zz‡j aiv n‡q‡Q Ges Zvi hyw³hy³ e¨vL¨v Avw_©K djvd‡j I gybvdv wba©vi‡b Zz‡j aiv n‡q‡Q|
18. weMZ cuvP eQ‡ii ¸iæZ¡c~Y© cwiPvjb I Avw_©K Z_¨ GLv‡b mshy³ Kiv n‡q‡Q|
19. †Kv¤úvbxi cwiPviKgÛjx Ryb 30, 2016 Bs Avw_©K eQ‡ii Rb¨ 15% bM`Ges 5% óK jf¨vsk †`qvi mycvwik K‡i‡Qb|
20. cwiPvjK gÛjxi mfvi msL¨v I cÖ‡Z¨K cwiPvj‡Ki mfvq Dcw¯w’Zi Z_¨ G‡b·vi- 2 G †`qv n‡q‡Q|
21. †kqvi †nvìvi‡ì aiY I †kqv‡ii cwigvb G‡b·vi- - 3 †Z Zz‡j aiv n‡q‡Q|
22. 2015-2016 A_©eQ‡i cwiPvjK cl©‡` †Kvb cwieZ©b nqwb|
Avw_©K djvdj Ges jf¨vsk e›Ubt
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Amount in BDT
June 30, 2016 June 30, 2015
Profit available for appropriation
Profit after tax 331,664,596 266,056,013
Prior year’s adjustment - -
Add: Undistributed profit brought forward from previous year 298,834,480 255,674,987
Total amount Available for Appropriation 630,499,076 521,731,000
Appropriation
Final dividend for the year 2013-2014 (@ 17% stock ) - (222,896,520)
Final dividend for the year 2014-2015 (@ 08% stock & 08% cash) (245,448,402) -
Closing Retained Earnings at year end (before proposed dividend) 385,050,674 298,834,480
Proposed dividend for the year 2015-2016 (@ 05% stock & @ 15% Cash) (331,355,344) -
Retained Earnings after Proposed Dividend 53,695,330 298,834,480
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ANNEXTURE - i
Status of Compliance with the Corporate Gevernance Guideline (CGC)
For the year ended 30th June 2016
Status of compliance with the condition imposed by the Commission’s Notification No. letter SEC/CMRRCD/2006-158/134/Admin/44,
dated 07 August, 2012 issued under section 2CC of the Securities and Exchange Ordinance, 1969
( R eport u nder C ondition N o . 7. 0 0 )
Condition No. Title Complied Not Complied Remarks (If any)

1 Board of Directors
1.1 Boards size
The BPL Board is comprised
The number of the board members of the company shall not be less than 5 (five)
√ of 9 Directors including 03
and more than 20 (twenty).
Independent Director.
1.2 Independent Directors
At least one fifth (1/5) of the total number of directors in the company’s board There are Three independent
(i) √
shall be independent directors. Directors in the BPL Board.
(ii) For the purpose of this clause ‘Independent directors’ means a director-
The Independent Directors
Who either does not hold any share in the company or holds less than one per-
a) √ have declared their compli-
cent (1%) shares of the total paid-up shares of the company;
ances.
Who is not a sponsor of the company and is not connected with the company’s
any sponsor or director or shareholder who holds one percent (1%) or more
b) shares of the total paid-up shares of the company on the basis of family relation- √
ship. His/her family members also should not hold above mentioned shares in the
company :
Who does not have any other relationship, whether pecuniary or otherwise, with
c) √
the company or its subsidiary/ associated companies;
d) Who is not a member, director. or officer of any stock exchange; √
Who is not a shareholder, director or officer of any member of stock exchange or
e) √
an intermediary of the capital market;
Who is not a partner or an executive or was not a Partner or an executive during
f) √
the preceding 3 (three) years of the concerned company’s statutory audit firm;
Who shall not be an independent director in more than 3 (three) listed compa-
g) √
nies;
Who has not been convicted by a court of competent jurisdiction as a defaulter in
h) √
payment of any loan to a bank or a Non-Bank Financial Institution (NBFI);
i) Who has not been convicted for a criminal offence involving moral turpitude. √
The independent director(s) shall be appointed by the board of directors and ap-
(iii) √
proved by the shareholders in the Annual General Meeting (AGM).
The post of independent director(s) can not remain vacant for more than
(iv) √
90(ninety) days.
The Board shall lay down a code of conduct of all Board members and annual
(v) √
compliance of the code to be recorded.
The tenure of office of an independent director shall be for a period of 3(three)
(vi) √
years, which may be extended for 1(one) term only.
1.3 Qualification of Independent Director (ID)
Independent director shall be a knowledgeable individual with integrity who is
(i) able to ensure compliance with financial, regulatory and corporate laws and can √
make meaningful contribution to business.
The person should be a Business Leader/ Corporate Leader/ Bureaucrat/University
Teacher with Economics or Business Studies or Law background/Professionals like
(ii) Chartered Accountants, Cost & Management Accountants, and Chartered Secre- √
taries. The independent director must have a least 12(twelve) years of corporate
management /professional experiences.
In special cases the above qualifications may be relaxed subject to prior approval
(iii) Not Applicable
of the Commission.
1.4 Chairman of the Board and Chief Executive Officer
The position of the chairman of the Board and the Chief Executive Officer of the
Different persons hold
companies shall be filled by different individuals. The chairman of the company
the positions with specific
(i) shall be elected from among the directors of the company. The Board of Directors √
responsibilities set by the
shall clearly define respective roles and responsibilities of the chairman and the
Board.
chief executive officer.
1.5 Directors Report to the Shareholders
The Director’s report com-
(i) Industry outlook and possible future developments in the industry. √
plies with the guideline.
(ii) Segment-wise or product-wise performance. √
(iii) Risks and concerns. √
(iv) A discussion on Cost of Goods sold, Gross Profit Margin and Net Profit Margin. √
(v) Discussion on continuity of any Extra-Ordinary gain or loss. Not Applicable
Basis for related party transactions-a statement of all related party transactions
(vi) √
should be disclosed in the annual report.
Utilization of proceeds from public issues, rights issues and/or through any others
(vii) Not Applicable
instruments.
An explanation if the financial results deteriorate after the company goes for
(viii) Initial Public Offering (IP0), Repeat Public Offering (RPO). Rights Offer, Direct List- Not Applicable
ing, etc.
If significant variance occurs between Quarterly Financial Performance and An-
(ix) nual Financial Statements the management shall explain about the variance on Not Applicable
their Annual Report.
(x) Remuneration to directors including independent directors. √
The financial statements prepared by the management of the issuer company
(xi) present fairly its state of affairs, the result of its operations, cash flows and √
changes in equity.
(xii) Proper books of account of the issuer company have been maintained. √
Appropriate accounting policies have been consistently applied in preparation of
(xiii) the financial statements and that the accounting estimates are based on reason- √
able and prudent judgment.
International Accounting Standards (IAS)/Bangladesh Accounting Standards
(BAS)/International Financial Reporting Standard (IFRS)/Bangladesh Financial
(xiv) Reporting Standards (BFRS), as applicable in Bangladesh, have been followed in √
preparation of the financial statements and any departure there-from has been
adequately disclosed.
The system of internal control is sound in design and has been effectively imple-
(xv) √
mented and monitored.
There are no significant doubts upon the issuer company’s ability to continue as a
(xvi) going concern. If the issuer company is not considerer to be a going concern, the √
fact along with reasons thereof should be disclosed.
Significant deviations from the last year’s operating results of the issuer company
(xvii) Not Applicable
shall be highlighted and the reasons thereof should be explained.
Key operating and financial data of at least preceding 5 (five) years shall be sum-
(xviii) √
marized.
if the issuer company has not declared dividend(cash or stock) for the year, the
(xix) Company Declared Dividend
reasons thereof shall be given.
The number of Board meetings held during the year and attendance by each
(xx) √
director shall be disclosed.
The Pattern of shareholding shall be reported to disclose the aggregate number
(xxi) √
of shares (along with name wise details where stated below) held by:
Parent/Subsidiary/Associated Companies and other related parties (name wise
(xxi) a) √
details);

ANNEXTURE - i

No share held except
Directors, Chief Executive Officer, Company Secretary, Chief Financial Officer,
(xxi) b) √ Directors, CEO & CS (as per
Head of Internal Audit and their spouses and minor children (name wise details);
notification)
(xxi) c) Executives;
Shareholders holding ten percent (10%) or more voting interest in the company
(xxi) d) Not Applicable
(name wise details).
In case of the appointment/re-appointment of a director the company shall
(xxii)
disclose the following information to the shareholders:
(xxii) a) a brief resume of the director √
(xxii) b) nature of his/her expertise in specific functional areas; √
Names of companies in which the person also holds the directorship and the
(xxii) c) √
membership of committees of the board.
2.0 Chief Financial Officer (CFO), Head of Internal Audit and Company Secretary (CS)
The company has appointed
CFO, CS and Chief of Internal
The company shall Appoint a Chief Financial Officer (CFO), a Head of Internal Audit. There are clearly
2.1
Audit (Internal Control and Compliance) and a Company Secretary (CS). The Board defined roles, responsibilites
Appoint- √
of Directors should clearly define respective roles,responsibilites and duties of the and duties which have been
ment
CFO, the Head of internal Audit and the CS. approved by Board as per
requirement of BSEC notifica-
tion.
2.2 Require-
The CFO and the Company Secretary of the companies shall attend the meetings
ment to
of the Board of Directors, provided that the CFO and/or the Company Secretary
attend the √ In practice
shall not attend such part of a meeting of the Board of Directors which involves
Board Meet-
consideration of an agenda item relating to their personal matters.
ings
3.0 Audit Committee
The company shall have an Audit Committee as a sub-committee of the Board of
(i) √ Already in place
Directors.
The Audit Committee shall assist the Board of Directors in ensuring that the finan-
(ii) cial statements reflect true and fair view of the state of affairs of the company and √ In practice
in ensuring a good monitoring system within the business.
The Audit Committee shall be responsible to the Board of Directors. The duties of
(iii) √ In practice
the Audit Committee shall he clearly set forth in writing
3.1 Constitution of the Audit Committee
(i) The Audit Committee shall be composed of at least 3 (three) members. √
The Board of Directors shall appoint members of the audit committee who shall be
(ii) √
directors of the company and shall include at least 1 (one) independent director.
All members of the audit committee should be “financially literate” and at least
(iii) I (one) member shall have accounting or related financial management experi- √
ence,
When the term of service of the Committee members expires or there is any
circumstance causing any Committee member to be unable to hold office
until expiration of the term of service, thus making the number of the Com-
mittee members to be lower than the prescribed number of 3 (three) persons,
(iv) √ No such Incidence arose
the Board of Directors shall appoint the new Committee member(s) to fill up
the vacancy(ies) immediately or not later than 1 (one) month from the date of
vacancy(ies) in the Committee to ensure continuity of the performance of work of
the Audit Committee.
(v) The company secretary shall act as the secretary of the Committee. √ In practice
The quorum of the Audit Committee meeting shall not constitute without at least
(vi) √ In practice
1 (one) independent director.
3.2 Chairman of the Audit Committee
The Board of Directors shall select 1 (one) member of the Audit Committee to be
(i) √
Chairman of the Audit Committee, who shall be an independent director.
Chairman of the Audit Committee shall remain present in the Annual General
(ii) √
Meeting (AGM).
3.3 Role of Audit Committee
(i) Oversee the financial reporting process. √
(ii) Monitor choice of accounting policies and principles. √
(iii) Monitor Internal Control Risk management process. √
(iv) Oversee hiring and performance of external auditors. √
Review along with the management, the annual financial, statements before
(v) √
submission to the board for approval.
Review along with the management, the quarterly and half yearly financial state-
(vi) √
ments before submission to the board for approval.
(vii) Review the adequacy of internal audit function. √
Review statement of significant ‘related party transactions submitted by the There was no such transec-
(viii) √
management. tion during the year.
Review Management Letters/ Letter of Internal Control weakness issued by statu- Statutory Auditors didn’t is-
(ix) √
tory auditors. sue any Menagement Letter
When money is raised through Initial Public Offering (IPO)/Repeat Public Offering
(RPO)/Rights Issue the company shall disclose to the Audit Committee about
the uses/applications of funds by major category (capital expenditure, sales and
(x) marketing expenses, working capital, etc), on a quarterly basis, as a part of their Not Applicable
quarterly declaration of financial results. Further, on an annual basis, the company
shall prepare a statement of funds utilized for the purposes other than those
stated in the offer document/prospectus.
3.4 Reporting of Audit Committee
(i) The Audit Committee shall report on its activities to the Board of Directors. √
The Audit Committee shall immediately report to the Board of Directors on the
(ii) √
following findings, if any:-
3.4.1 (ii) a) report on conflicts of interests; No such Incidence arose
suspected or presumed fraud or irregularity or material defect in the internal
b) √ No such Incidence arose
control system;
suspected infringement of laws, including securities related laws, rules and
c) √ No such Incidence arose
regulations;:
d) any other matter which shall be disclosed to the Board of Directors immediately. √ No such Incidence arose
If the Audit Committee has reported to the Board of Directors about anything
which has material impact on the financial condition and results of operation
3.4.2 andhas discussed with the Board of Directors and the management that anyrec-
Reporting to tification is necessary and if the Audit Committee finds that such rectificationhas
√
the Authori- been unreasonably ignored, the Audit Committee shall report such finding tothe
ties Commission, upon reporting of such matters to the Board of Directors for three
times or completion of a period of 6 (six) months from the date of first reporting
to the Board of Directors, whichever is earlier.
3.5 Reporting to the Shareholders and General Investors
Report on activities carried out by the Audit Committee, including any report
made to the Board of Directors under condition 3.4.1 (ii) above during the year,
√
shall be signed by the Chairman of the Audit Committee and disclosed in the an-
nual report of the issuer company.
4 External/ Statutory Auditors
The issuer company should not engage its external/statutory auditors to perform the following services of the company; namely:-
(i) Appraisal or valuation services or fairness opinions. √

ANNEXTURE - i

(ii) Financial information system design and implementation √
Book-keeping or other services related to the accounting records or financial
(iii) √
statement
(iv) Broker –dealer services √
(v) Actuarial services √
(vi) Internal audit services √
(vii) Any other services that the audit committee determines. √
No partner or employees of the external audit firms shall possess any share of the
(viii) company they audit at least during the tenure of their audit assignment of that √
company.
Audit/ Certifiaction services on compliance of corporate governance as required
(ix) √
under clause (i) of condition o. &
5 Subsidiary Company
Provisions relating to the composition of the Board of Directors of the holding
(i) company shall be made applicable to the composition of the Board of Directors √
of the subsidiary company.
At least 1 (one) independent director of the Board of Directors of the holding
(ii) √
company shall be a director on the Board of Directors of the subsidiary company.
The minutes of the Board meeting of the subsidiary company shall be placed for
(iii) √
review at the following Board meeting of the holding company.
The minutes of the respective Board meeting of the holding company shall state
(iv) √
that they have reviewed the affairs of the subsidiary company also.
The. Audit Committee of the holding company shall also review the financial
(v) √
statements, in particular, the investments made by the subsidiary company.
6.0 Duties of Chief Executive Officer (CEO) and Chief Financial Officer(CFO)
The CEO and CFO shall certify to the Board that:-
They have reviewed financial statements for the year and that to the best of their
(i) √
knowledge and belief:
These statements do not contain any materially untrue statement or omit any
a) √
material fact or contain statements that might be misleading;
These statements together present a true and fair view of the company’s affairs
b) √ In practice
and are in compliance with existing accounting standards and applicable laws.
There are, to the best of knowledge and belief, no transactions entered into by
(ii) the company during the year which are fraudulent illegal or violation of the √ In practice
company’s code of conduct.
7.0 Reporting and Compliance of Corporate Governance
Required certification has
The company shall obtain a certificate from a practicing Professional Accountant/
been obtained from ‘’POD-
Secretary (Chartered Accountant/Cost and Management Accountant/Chartered
DER & ASSOCIATES” Cost &
(i) Secretary) regarding compliance of conditions of Corporate Governance Guide- √
Management Accountants
lines of the Commission and shall send the same to the shareholders along with
for the year ended 30th June
the Annual Report on a yearly basis.
2016.
The directors of the company shall state, in accordance with the Annexure at-
(ii) tached, in the directors’ report whether the company has complied with these √
conditions.
ANNEXTURE - II
Board Meeting and Attendance
Board Meeting and Attendance during the year ended June 30, 2016
Number of meetings held whilst

Name of Directors Meeting attendance Remarks
Board Members
Mr. Faisal Ahmed Chowdhury 8 7

Engr. Md. Ahsanul Kabir 8 8
Mr. Abdul Bari 8 6
Mr. Gulam Rabbani Chowdhury 8 8
Mr. Robin Choudhury 8 0
Mr. Nanu Kazi Mohammed Miah 8 4
Dr. Tofayel Ahmed Ph.D 8 8
Mr. Abdus S Majid 8 6
Mr. Mohammed Ahmed Ali 8 1

ANNEXTURE - iii
pattern of Shareholding
The pattern of Shareholding as on June 30, 2016
Sl No. of Shares Percentage (%) of

Name of Shareholders Status
# Held Share Holding
a) Parents/ Subsidiary/ Associate Companies

b) Directors, Chief Executive Office, Chief Financial Officer, Company Secretary, Head of Internal Audit and their spouse and minor Children
Mr. Faisal Ahmed Chowdhury Chairman 3,443,589 2.08
Engr. Md. Ahsanul Kabir Vice-Chairman 4,132,308 2.49
Mr. Abdul Bari Vice-Chairman 3,316,950 2.00
Mr. Gulam Rabbani Chowdhury Managing Director 3,443,589 2.08
Mr. Robin Choudhury Director 12,183,529 7.35
Mr. Nanu Kazi Mohammed Miah Director 3,314,159 2.00
Dr. Tofayel Ahmed Ph.D Independent Director Nil Nil
Mr. Abdus S Majid Independent Director 1,620,066 0.98
Mr. Mohammed Ahmed Ali Independent Director 1,531,845 0.92
Mr. Fahim Ahmed Chowdhury DMD & Head of Finance 1,344,095 0.81
Mr. Mohammed Monirul Islam Company Secretary 30,198 0.02
MS. Rushaina Ahmed Chowdhury Spouse of Mr. Faisal Ahmed Chowdhury 396,593 0.24
MS. Momtaz Chowdhruy Spouse of Mr. Gulam Rabbani Chowdhury 407,196 0.25
MS. Shaheda Begum Shanti Spouse of Mr. Robin Choudhury 2,022,952 1.22
MS. Mohibun Bari Chowdhury Spouse of Mr. Abdul Bari 155,400 0.09
MS. Tohmina Khatun Spouse of Mr. Nanu Kazi Mohammed Miah 556,241 0.34
MS. Abeda Khanom Chowdhury Spouse of Mr. Fahim Ahmed Chowdhury 247,014 0.15
MS. Rukshana Jahan Jolly Spouse of Mr. Abdus S Majid 514,080 0.31
MS. Sultana Jesmin Chino Spouse of Mr. Mohammed Monirul Islam 125,232 0.08
c) Executives *
d) Shareholders holding 10% or More Voting interest
* The expression “ executives” means top five salaried employees of the company, other than the Directors, Chief Executives Officer, Company Secretary,
Chief Financial Officer and Head of Internal Audit
ANNEXTURE - iv
FINANCIAL SUMMARY
Particulars June 30,2016 30-Jun-15 30-Jun-14 30-Jun-13 30-Jun-12
FINANCIAL POSITION
Non-Current Assets 5,980,581,835 6,173,495,917 5,520,375,957 4,394,110,726 2,027,726,528
Current Assets 2,273,735,211 2,168,132,816 2,110,210,043 599,431,940 958,690,312
TOTAL ASSETS 8,254,317,046 8,341,628,734 7,630,586,000 4,993,542,666 2,986,416,840
Share Capital 1,656,776,720 1,534,052,520 1,311,156,000 1,248,720,000 1,032,000,000
Share Premium 970,000,000 970,000,000 970,000,000 970,000,000 970,000,000
Retained Earnings 663,882,068 470,274,630 269,065,674 207,008,692 232,278,833
Non-Controlling Interest 726,278,701 632,203,906 488,139,110 305,300,685 197,185,092
Non-Current Liabilities 3,109,918,629 3,229,911,000 3,092,389,073 249,945,242 354,375,779
Current Liabilities 1,127,460,928 1,505,186,678 1,499,836,143 2,012,568,047 200,577,136
TOTAL EQUITY & LIABILITIES 8,254,317,046 8,341,628,734 7,630,586,000 4,993,542,666 2,986,416,840
OPERATING RESULTS
Revenue 2,960,310,153 3,844,108,738 1,573,361,307 675,390,784 731,781,707
Gross Profit 1,125,957,975 1,042,093,141 516,846,359 364,819,171 390,433,560
Operating Profit 966,601,907 869,743,885 412,876,844 288,119,861 321,101,712
Income Tax Expenses 53,804,430 51,536,442 31,160,857 30,526,119 32,440,756
Non Controling Interest 140,379,795 144,064,796 30,240,850 -3,249,376 -2,462,647
Net Profit after tax 439,055,840 424,105,477 249,364,982 187,510,848 198,104,450
FINANCIAL RATIOS
Gross Profit Margin (%) 38.04% 27.11% 32.85% 54.02% 53.35%
Net Profit Margin (%) 14.83% 11.03% 15.85% 27.76% 26.73%
Return on Capital Employed (%) 13.56% 12.72% 6.73% 8.32% 10.08%
Debt Equity Ratio 52:48 55:45 62:38 87: 13 83:17
OTHER INFORMATION
Face value per share 10 10 10 10 10
Proposed Dividend 5% stock and 15% cash 8% stock and 8% cash 17% stock 5% stock and 10% cash 21.00% stock
Earnings Per share (EPS) 2.65 2.56 1.90 1.48 1.90
Net Assets value (NAV) per Share 19.86 19.39 19.45 19.43 21.65
Net Operating Cash Flows Per Share
5.08 5.76 -6.61 1.23 2.11
(NOCFPS)

ANNEXTURE - v
COMPLIANCE Report
Corporate Governance
T
he Corporate Governance refers to the processes, the board are aware about their responsibilities and du-
structures and information used for directing ties;
and overseeing the management of the company.
Corporate governance framework establishes That the internal control system is sound to avoid error
the mechanisms for achieving accountability and omission of information and risk management is
between the Board, senior management and effective to minimize risk in different level of operation;
shareholders, while protecting the interests
of relevant stakeholders. It also sets out the That all material information is timely flow to the board
structure through which the division of power in and other committees to ensure efficiency of decision
the organization is determined. making;
It provides the company to utilize its resources at That all material information concerning to the capital
optimum level. It also provides the Board to do their market will flow to the shareholder as well as to the
responsibility with integrity, reliability and transpar- stakeholders to determine their investment decision;
ency which give accountability to the stakeholders.
That all transactions are transparent and accountable;
BOARD COMMITTEES That all regulatory and statutory rules and regulations
To maintain good and sound governance within the are complied with.
organization, the Board of Directors formed some
special purpose committee, namely BOARD ORGANIZATION & STRUCTURE
Audit Committee, includes a) Role of the Board and its composition

1. Dr. Tofayel Ahmed Ph. D, Chairman The Directors of the Board are appointed by the
2. Mr. Nanu Kazi Mohammed Miah , Member shareholders at Annual General Meeting consist of
3. Mr. Mohammed Monirul Islam, 09 Directors including three Independent Direc-
Member Secretary tors, whose are appointed by the Board. They are
responsible for guiding the company to accomplish
Purchase & Procurement Committee, includes its ultimate goal set by the shareholders. Roles of the
1. Mr. Faisal Ahmed Chowdhury, Chairman Board are-
2. Mr. Engr. Md. Ahsanul Kabir, Member
To ensure proper guidance to the company to
3. Mr. Fahim Ahmed Chowdhury, Member
achieve its goal;
4. Mr. Nazmul Hassan Choudhury, Member
5. Mr. Monowar Ahmed, Member To ensure maintaining good governance through-
out the company;
Operation & Maintenance Committee, includes
To monitor the effectiveness of Internal Control
1. Mr. Gulam Rabbani Chowdhury, Chairman
System and risk management;
2. Mr. Fahim Ahmed Chowdhury, Member
3. Mr. Manzur Kadir Shafi, Member To ensure the optimum utilization of company’s
4. Mr. Nazmul Hassan Choudhury, Member resources to achieve maximum profit and also
5. Mr. Md. Shariful Alam, Member concentrate on minimize cost;
The main goal is to form those committees to assess how To make sure transparency, accountability and
minimize the risk in various sector of operation and how timely flow of accounting information;
maximize the performance and how to achieve the ultimate To protect the interest of shareholders and stake-
objective of the company. To govern the objectives, govern- holders as well as the employees of the company;
ance framework is based on the following principals: To comply with all regulatory and statutory rules
That the Board size is appropriate and the members of & regulations.

Corporate Governance
b) Board Meeting
In pursuant with the Articles of Association of the company, the Board to meet at least four times in a year and at
least once in a quarter when duly called for in writing by a Board member. Dates for Board Meeting in the ensuring
year are decided in advance and notice of each Board Meeting is served in writing well in advance.
MANAGEMENT TEAM
The management team is the executive committee of the company who managing the company. The team is lead by the
Managing Director of the company and other members are directors of executive committee and key managers throughout
the organization. Management team endeavors to achieve the goal of the company set by the Board of Directors.
Baraka Power Limited believes in integrity, reliability and transparency to the nation by following good, effective and sound
corporate governance within the organization. The company also believes, corporate governance can play role as a bridge
among the management, the shareholders and the statutory bodies.
Audit Committee Report
The Audit Committee of Baraka Power Limited, a subcommittee of Board of Directors, was formed and its charter approved
by the BOD at its meeting held on August 13, 2011 to assist the board in ensuring that the financial statements reflects true
and fair view of the state of affairs of the company and in ensuring a good monitoring system within the business.
Committee’s Composition and Meeting

The committee comprises-
1. Dr. Tofayel Ahmed Ph. D, Independent Director act as Chairman
2. Mr. Nanu Kazi Mohammed Miah , Director act as Member
3. Mr. Mohammed Monirul Islam, Company Secretary act as Member Secretary
Total of 04 meeting were held during 2015-2016. Permanent invites to the meetings were Company Secretary who acts as
the secretary of the Audit Committee and others are Director & Independent Director, a chairman of the committee. Special
invitee was Chairman and Managing Director of the Company.
Major Responsibilities of the Audit Committee

The Purpose, authority, composition, duties and responsibilities of the Audit Committee are defined in its charter.
Some of the major responsibilities of the committee, among others, include:
Review the annual, half-yearly and quarterly financial statements and other financial results and upon its satisfac-
tion of the review, recommend same to the board for approval;
Monitor and review the financial reporting process, application of accounting policies and principles to the finan-
cial statements and effectiveness & adequacy of Company’s Internal Control System and Risk management Process;
Recommended appointment, reappointment or removal and evaluating performance of external auditor;
Review the internal audit function and related party transaction;
Monitor and review the utilization of Initial Public Offering (IPO) proceeds whether the fund utilize for the pur-
poses those stated in the prospectus.
Major Activities of the Audit Committee

Reviewed and recommended to the Board the quarterly and annual financial statements for the year ended June 30,
2016;
Considered and made recommendation to the Board on the appointment and remuneration of external auditors,
Malek Siddiqui Wali, Chartered Accountants for the year 2016-2017
Reviewed the activities of the Compliance function, incidence reporting and actions, and the status of enforcement
of the Codes of Conduct.
Reviewed the Board Audit Committee Charter and Internal Audit Charter
Reviewed and received report on the matters as per requirement from the Securities and Exchange Commission
(SEC). The above matters are significant recommendations for continuous improvement and therefore duly noted.
Dr. Tofayel Ahmed Ph. D

Chairman
Audit Committee

Financials
iTs suBsidiary
limiTed and
ka Power
Bara STATEmEnTS
FInAnCIAL 30, 2016
nOTES TO ThE
year ended
June
For The
For the year ended

ry June 30, 2016
idia Amount (Tk.)
suBs TS Amount (Tk.)
iTs
Ted
and
AT EmEn
limi A L ST , 20 16 Particulars
49,348,498
AnCI
er 50,467,507
Pow 30 2015 85,622
ka FIn de d Ju ne June
30,
61,403,839 45,630
Bara ThE en 6
As at
t (Tk.
)
34.00 Income
Tax Expenses: Tk.
9,639,000
-
S TO e ye ar June
30, 201 Amoun s on Revenue 8,200,845
nOTE Fo r Th As at
t (Tk.
) Income tax expense s on Financial Income 1,251,702
Bara
Amoun Income tax expense s on Dividend Income 57,634,965 ka Pow
,019 61,403,839 COnS
45,740 785 Baraka Power limiTed and iTs suBsidiary Income tax expense s on Income from Other Sources OLIDA er lim
iTed an
5,531, 3 Income tax expense TED STA d iTs
,352 ,80 TEmEnT suBsid
46,234 567 51,271
nOTES TO ThE FInAnCIAL STATEmEnTS 57,634,965 iary
5,109, 9 Total 61,403,839 as aT OF FIn
,91
For The year ended June 30, 2016 30 2,005,949 Jun e AnCIA
51,343 ,191 Expenses: Tk. 53,804,4 2,093,704 30, 201 L POSIT
ated Income Tax 6
IOn
27,963 ,612 34.A Consolid 59,640,914
23,308 iary Limited 63,497,543
Particulars
,719 - suBsid Baraka Power 8,104,472
,919 51,219 ,200 S d iTs Power Ltd. 9,693,113
iTed an Baraka Patenga
51,343 124 ,803 mEnT 51,536,442
es: Tk. er lim L STATE
- ASS
Payabl 51,271 ka Pow 53,804,4
A Non 30 ETS
ounts 9 For the year ended endedra
For the year Ba AnCIA 30, 201
6 -Cur
d Acc
51,343
,91Particulars
June 30, 2016 ThE FIn ed Jun e Less: Inter compan
y adjustment Property, rent Assets
lidate
TES TOThe yea r end
June 30, 2015
Conso ited . Intangible Plant & Equi Notes
27.A wer LimPower Ltd 48,000 Amount (Tk.) nO
Amount (Tk.) Assets pme
266,056,013 nt As at June
a Po Total
ended Capital
Barak Patenga 4,906 For
For the year 2015 331,664 ,596 Work-in-p
Inves ,672
rogress
30, 2016
As at June
a 48,000
30.01 Lubricants and Chemical Consumption: Tk. 19,572,861 ended June 30, tment in 165,677 Amount 30, 2015
Barak le 9 52,906 For the year 2016 (EPS) : Tk. 2.00 165,677 ,672
Inves Subsidiary (Tk.)
al ts Payab 11,45 June 30, Earnings Per Share
(Tk.) 35.01) tmen
IPO Expe t in Associate 1.61 Amount
Tot co un Opening Balance Amount
35.00
inary Shareholde
rs
ing during the
year (Note 2.00 nses (Tk.)
of Ac 04.A
59,459 Add: Purchase during the year 27,292,457 11,016,392
Amount
(Tk.) Profit Attributabl
e to Ord Shares Outstand Pre-O perating
Aging s 28,505,979 36,982,019
Number of Ordinary Expenses 05.A
day s Weighte77 d Average 06.A
5,922,03
1,270
0-30 day 32,061,7 7 (EPS) B Curr 5,761,44
30-180 days 52,906 55,798,436 24 1,08 Earnings Per Share ent
InventorieAssets 424,105,477
07.A 44,2
33,208,3 08 3,935
ceeds.
47,998,411 33,118,1 9 1,18
Basic 08.00
over
180 pro Less: Closing Balance ,438 2,652,22 10,032,0 0
00 439,055
Accounts ,840
s ,672
42 132,
378,941, 459
of IPO 99,591 36,225,575 27,292,457 Tk. 2.65 Receivabl 165,677 09.A
nts 59,459 ,344 the year 10,950,0 5
00 1,099,01 ated Earnings Per Share (EPS): 165,677
Othe ,672 - 386
Total 59,459 applica Consumption
- during
99,644 ulars 3,772
r Rece
Advances ivables
es 10.A 960,000
es: Tk. ceeds nse A/C of 04 Partic
19,572,861 20,705,954 : Tk. 94,314,645 1,115,13 35.A 2,84Consolid
inary Shareholde
rs year (Note 35.01) 2.56 -
Payabl money
8 ing during the Cash & 2.65 , Deposits 24,338,0 -
510,000
Other IPO pro spe
iption 459 591,43 consists e Expenses 1,544,56
3 504,292tributable to Ord of Ordinary Shares Outstand
Profit At & Pre-p 5,209,56
e for ividend Su 59,Lubricants and99,chemical of Diesel,Lube oil, Caustic Soda, Grease, Coolnet water, Maxi Guard etc. inistrativ ,777d Average Number
Cash Equivalen ayments 5,980,58
15
27,258,5 0
28.00 payabl r D subscr - 52,906 ral & Adm 887,287 862
Weighte ts 11.A 1,835
Other payable fo ts of 32.00 Gene & Allowances 4 C TOTA 77
consis 874,880 4,500,57 L ASSETS 12.A 6,173,49
5,917
Other ceeds 459 Salary
Expenses
7 Total7,915 856,472,
IPO pro 30.02 59, Gratuity Remuneration 4,388,32 4,89 EQU (A+B) 13.A
894,899, 211
Total e for 59,459
Spare Parts Consumption:
year end
edTk.25,283,596 2 1,449,68
7 D Equi ITY & LIABILITIing at the beginning 15.A 877,796,
4,062,33 ing 779
payabl es: Tk. For the 30, 2015 Director’s
ication
Expenses 796,407 of Ordinary Shares
Outstand ty Attrioutstand ES
shares
Share Capi butaThe 16.A 117,462, 949,516, 031
Other Payabl Opening ed Balance June 971,766 d Average Number is the number of
ordinary bletime-wei
to Own ghted
factor
264,970, 066 228
other r end ) Commun & Con233,423,866
268,588,692 veyance 1,93 3 ing during the year ghted factor.tal ers in 258 27,284,9
d yea
Add: Purchase during t (Tk. 901,104 1,29
35.01 Weighte outstand d by a Shar
time-wei e days of year).
athe 139, 50
For the 30, 2016 Amoun the year
lidate Prem ing 360 Company
ited Travelling nses64,345,926
92,624,741 216,584 weighted average number of
ordinary shares
issued during the
year multiplie Reta year ium
(consider 930,897 192,262,
Conso wer LimPower Ltd
. June 467,985 of days in theined
2,273,73 121,272, 829
28.A a Po ) Utility Expe ates & Taxes 29,261
The8 of ordinary shares
as a proportion
of the total number Earnings 5,211
t (Tk. 1,299,76 by the number Share 778
Weighted No. of
Barak Patenga Amoun 361,213,433 nt, R297,769,792 of the year, adjusted are outstanding 8,254,31 2,168,13
Office Re nses 4 328,217 number of days that the shares n
Barak
a Less : Closing Balance ,060,024 EGM Expe nses 1,097,98 Calculatio
Non- 7,046 2,816
ustme
nt
362 26 AGM &
335,929,837 ing Expe tenances is the- Weighted No. of
Share Controllin
153,405,252 8,341,62
y adj ,003,2 21 Runn268,588,692 461,467 Ordinary Share Total Equi g Interest 17.A 8,734
Consumption 1,139 during129 Vehicle & Main 115,000
compan the year1,7 Repair 231,000 Date of Allotment E
ty
12,272,420 18.A
Inter 367,00 1,523 331,41 25,283,596
General Others
29,181,100
277,069 153,405,252
Non-Cur
20 * 360/360
1,656,77
Less: 71 ment & nses 230,000 Term Loanrent Liabilitie
19.A
970,000, 0
6,72
30.A Consolidated 136,68 Cost 2,4of57Sales: Tk.822 ,474,9 Entertain Development Expe sultancy 276,806 360 12,272,4
s 165,677,672 1,534,05
1,834,352,178
nal Con 292,789 15 12,272,420 Finance -Long Term Porti 663,882, 000 2,52
Total 337,44 Busi ness
& Professio 172 43,2
01-07-20
05 @ 08% Leas 068 970,000, 0
Baraka Power Limited 5,119 Legal Fees & Lodging
357,
320 for the year
2014-15
165,677,672
Provision e Liabi
for Grat lity-Long Term
on 20.00 3,290,65 470,274, 000
841,12 350,850,772 Fooding 372,185,207 45,918 433,Bonus uity Portion
8,788 630
Baraka Patenga Power Ltd. 4,9 71 Staff Publicity 1 726,278, 2,974,32
822,47 ,767
1,483,501,406 men & t
2,429,830,390 259,936 3,013,17Total F Current 701 7,150
633 Advertise nses 5 3,837,82
6 Liabilitie has been 4,016,93 632,203,
Total
5,119 3,021, 8 er Expe 2,850,33 Term Loan
no potentias l ordinary shares 21.A
7,489 906
841 ,12 4 108,73
1,834,352,178 Tend 2,802,015,597 4,389,65
7 42,210 there was-Sho
d asFinan rt Term 3,606,53
1,056
5,119 ds 185,03 Audit Feesy & Stationeries Per Share d for the year presente Shor ce Lease Liabi Portion
841,12 Procee 3,844, 8,600 4,900 of Earnings to be calculate
3,100,29
e: Tk. nance 2,119, 3 Photocop
35.02 Dilution t term lity-short 22.A 3,87
Revenu ,15 dicals 47,181 2,303 per share is required for dilution during the year. Liabilities Liabilities Term Porti 1,918,09 3 3,219,51
ceeds & Mainte 31.00 Other Income: Tk. 2,960,
310
52,333,629 Uniform er, Books & Perio
1,17No diluted earnings no scope Provision for Expenses on
7,706,65 7 4,99
29.00 ity Pro al
0,513 939,378 334,460 by the company, as such 4,848,32 7
Capac le Operation 259,76 ,954 Newspap issued00 Paya for Tax
3,10
9 7
Variab Proceeds
Gain on disposal of Assets Expenses 106,332 14,5 ble
Accountsfor WPPF 21.B 9,918,62 5,547,67
y 1,686 20,705 ,100 - Printing 1,132,691 - 977,376
9
3,229,91
6
Energ ,153 Foreign Exchange Gain /(Loss) Fees
(1,050,699) Annual (747,201) Other PayaPayable 1,000
60,310 Dividend Income from 227,07 ,861 29,181 ,713
e Premium 980,876 320,000 bles 23.A 453,159,
214
Total Tk. 2,9 19,Subsidiary
572
,596 54,821 927 48,195,000 Insuranc & Train - ing
9,261,53
4 2,928,51 387,975,
enue: Gain/(loss) on providing O & M Service 218,750 G TOTA
24.A
484,716, 9 613
d Rev 25,283 ,317 7,715, 216,452 Educ
ation nses nses 3 20 25.A 2,554,23
lidate Interest Income earned on146 ening Expe - & Cultural Expe 8,218,37 12,698,6 L EQUITY 916
74, Loan312 5,207 975,485, 4
ited from Related Party 33 750,
Conso . 4,790,357 Gard32,417,889 & LIAB 26.A
29.A wer LimPower Ltd Bank Interest 4,776, 372,18 al Religious 11,615,9
04
96,188,1
00 Net Asse
ts Value ILITIAnnual
ES (D+E
Report 2015-16 114,849, 306 556
a Po Annu 342,487 Per Shar +F) 27.A 173 4,503,59
Barak Patenga 0,772
182,519 tings
94,314,6
45 The acco 19,653,4 67,158,4 9
a Total Gift & Gree tion Expensesnses unting po e (NAVPS) 28.A
51,343,9 22
Barak 350,85 52,333,629 Certifica The Finan licies and 16,1 18
ISO 33,145,866 ing Expe 00 cial State other not 19 84,5
Total 0,772 30.01) se Keep 96,188,1 ments were es form a 59,459 51,271,8 49
350,85 (Note:
31.A Consolidated Other Income: Tk. 8,518,484 Rest Hou ce Fee 45 82,620,4
20 approved n integra 1,127,46 03
es : Tk. Attendan nses 94,314,6 Baraka and autho l part of t 0,928 52,906
of Sal mption Meeting 07 520 Power rized for hese finan
Cost tion l Consu 30.02) Baraka Power Limited tion Expe 73,559,9 178,808, limiTed issue by cial statem 8,254,31 1,505,18
30.00 nsump Chemica (Note: Amortiza Expenses 167,874,
552
552 nOTESCom and iTs the Board ents. 7,046 6,678
Gas
Co y y Baraka Patenga Power Ltd. 52,333,629 33,145,866
Deprecia
tion nses: Tk. 167,874, TOpany ThE Secretar suBsidia of Directors
19.86
8,341,62
nts and nsumption chiner chiner 4,596,307 5,731,287 rative Expe FIny AnCIAL ry on the date
of October
8,734
LubricaParts Co Plant & Ma Plant & Ma Total & Administ 43,088,1 -
19 For The
year ende STATEmEnT 27, 2016 19.39
Spare ciation on on 56,929,936 General 29 S and signe
nances olidated
38,877,153 31,945,3 7
d June
30, 2016 d for and
Depre & Mainte Less: Inter company adjustment 32.A Cons ted 60,158 Signed Head of on beha
Power Limi er Ltd. 1,374,19 Fina lf of the board
r 48,411,452 in term nce
Repai Baraka
32,417,889 Pow 104,580 4,223,72
6 s of our
separate Managing Dire
.
Total Patenga Dated:
Baraka Dhaka
PORT
8,518,484 8 03 report of ctor
Total 6,459,264 2,147,36 47,372,0 October even date
RS’ RE
Total sid iar y: Tk. 35,571,474 74 27, 2016 . Director
nses 35,571,4
iTs suB ncial Expe
O
AUDIT
d and33.00 Fina nses 03 36.A Conso Chairma
Limite iTe d nce Expe nses Consolidated 47,372,0 lidated Contin 4 n
wer er lim Term Fina ncial Expe 74 508 Baraka
ka Po
Pow prise theion ve income, 35,571,4 218,898, Baraka Power
gent Liabili
ty: Tk.419,112,3 Power 30-06-2016
Bara oF Bar
aka r Finah comCompreh
y, whic
Othe missensi 946 511 Limited 87
Limited
30-06-2016
old ers subsidiar rge &r com nses summary of
Chaothe 278,136, 266,270, 89 Baraka Pateng Taka
30
sha reh and its Bankand e Expe
ranteende d and a ka Power 708, 420 32,4 17,8 a Power Ltd. Malek Sidd
Limited t or Loss Guathen 313, Total
Taka
Chartere iqui Wali
ka Power
To The Bank 420 -
nt of Profi /period nt of Bara : Tk. ve 708,
313, 622
eme nt of Bara ated Stateme s for the yearTota l ncial Stateme l Expe prehensi
nses 233,852, d Accounta
nts
ncial Stat solid
the Con ments ofAnnual cash flowReport 2015-16 nying 31 Fina ted Fina other com
andncia unting 313,708,
420 37.00 Comm
itment of Capita 199,112,387
nying Fina 30, 2016 and accompa of Cons t or Loss Limisign
olida ificant acco
the accompa at June solid ated state also audited the eme nt Profi ka Pow
33.A marery of ted Ltd. l Expenditure
: Tk. Nil 220,000,000 199,112,387
audited tion as and Con have the Stat Bara
and a sum Power 220,000,000
We have of Financial Posi in equity notes. We June 30, 2016 and iod then ended, Baraka Patenga 419,112,387
eme nt nt of changes r expl anatory as at /per nt Name of be 419,112,387
Stat eme othe l Position for the year adjustme sh neficiary
ated Stat ng policies and Financia ts of cash flows company with Banglade
Consolid unti ement of men Less: Inter ce and GE Jenbacher L/C Number
nt acco Stat rdan law Currency Value
significa prise the ty and state ts in acco r applicable GMBH and as at 30-06
-2016
which com of changes in equi Total
statemen and othe of these finan
cial Total Co. Ltd.
2365140200 Value as at
Limited, nt s. financial in FCY 30-06-2015
Stateme ory note l Stateme
nts: of these es Act 1994 aration 38.00 Remitt
04 EURO in BDT
income, r explanat Financia entation S), the Compani enable the prep er Limi
ted
ance of Foreig in FCY
and othe y for the fair pres y to Baraka Pow in BDT
policies onsibilit on and dard (BFR is necessar32 n Currency:
Tk. 58,239,323
preparati Reporting Stan which 557,542
ment’s Resp for the ncial rmines, audit in
- 50,139,738
Manage is resp onsible sh Fina ent dete or erro r. d our - 557,542
agement )/ Banglade managem re due to fraud t. We cond
ucte
plan and Name of be
neficiary
50,139,738
The Man Standards (BAS nal control as t, whe on our audi requirements and
ng inter tate men base d al GE Jenbacher L/C N umber
Accounti and for such material
miss Company comply with ethic misstatement. GMBH and Currency Value as at
30-06-2016
ns
regulatio that are free from ts of the
statemen s require that we free from mat
erial ments. The GE Jenbacher Co. Ltd.
Value
ts cial state financial GMBH and 2365140200 in FCY as at 30-06
statemen bility e financial dard ts are in the finan the Transocean Co. Ltd. 02 EURO in BDT -2015
s Responsi ion on thes (BSA). Those stanfinancial statemen losures misstatement of the entities’ Energy Servic 2365140100 in FCY
Auditor’ ess an opin iting the and disc to Hydraulic stud es Pte Ltd 13 EURO - in BDT
is to expr Standards on Aud e about whether amount of material relevant nces, tensioner kit. 2365140100 -
onsibility sh about the ent of the risks internal control in the circumsta the GE Jenbacher 12 USD - 704,427.00
68,042,567
Our resp with Banglade le assuranc evidence ssm iders ate n GMBH and 2365140100 -
ce reasonab in audit the asse tor cons that are appropri includes evaluatio GE Jenbacher Co. Ltd. 14 USD - 92,596.92
accordan audit to obtain es to obta including the audi es audit also as well as eval
uating GMBH and
Co. Ltd. 2365140200 - 14,573.00
10,898,497
orm the ing procedur tors’ judgment, risk assessments audit procedur rol. An SYSTEMAIR
SDN BHD 2365140100
03 EURO -
1,135,966
perf perform audi those design nal cont by management, Forain S.r.l, 16 - 10,356.00
t involves depend on the error. In making order to ies’ inter e Italy EURO -
ments in 2365140100 - 807,768
An audi
es selected or of the entit estimates mad GE Jenbacher 17 - 704,427.00
to fraud the financial state effectiveness ng GMBH and 2365150100 USD 64,186,825
procedur whether due tion of ion on the onableness of
accounti t opinion. Motwane Mfg Co. Ltd. 01 -
- 96,984.80
ts, our audi Co. Pvt. Ltd EURO 9,806,205
statemen and fair presenta essing an opin reas ide a basi s for
GE Jenbacher
2365150100
07 -
- 3,250.00
on expr and the ate to prov l Reporting GMBH and EURO
preparati the purpose of ies used appropri Ningbo Demy Co. Ltd. 236515FTT0 - 6,010.00
253,013
for ng polic
cient and sh Financia its 07 USD -
but not of accounti financial. Banglade its operation and le 2365150100 - 136,432.94 553,873
s ateness the ined is suffi s (BAS)/ lts of
GE Jenbacher 11 EURO -
appropri presentation of have obta ng Standard of the resu r applicab GMBH and 236515FTT0 12,420,282
menT ence we and othe Turbo Intern Co. Ltd. 14 65,272.75 - 1,496.00
l sTaTe sh Accounti 30, 2016 and
all ational USD 5,787,735
the over audit evid Banglade s Rules 1987 2365150200 895.00 118,412
audiT
ed ancia ve that the rdance withpany’s affairs as
of June Exchange GE Jenbacher
GMBH and
01 EURO 69,989 -
Ted Fin We belie rities and Co. Ltd. 23651 50100 433,57 -
are in acco , the Secu Symtec 12 2.00
olida ARy com
ments prep the state of the panies Act 1994 2365150200 USD 39,051,830 -
cons SUBSIDI Opinion cial state of Com purp oses SYSTEMAIR
SDN BHD
04 EURO
21,485.00
1,695, -
-
D ITS ion, the
finan
and fair
view
ply with
the y for the 236515FTT0 121,952.97 167 -
ITED An necessar Total 20 -
LIm In our opin S), give a true ended and com belief were 2365160100 USD
1,180.00
11,369,675
-
OF wE R (BFR
Standard for the period then ledge and ination 39.00 Value
01 USD -
kA PO
93,102
of our know our exam of Imports 2,175.00 -
BARA cash flow
s
regulatio
ns. the best ared from Calculated
on CIF 171,825 -
laws and which to far as it appe Spare Parts Basis: Tk. 58,239,323 646,533 -
-
rt that:
anations panies so nt with 58,239,323
-
repo mat ion and expl
kept by the com rt are in agreeme Total 1,770,554
168,223,408
We also the infor cation thereof; have been by the repo
ined all ired by law dealt with 40.00 Relate
have obta due verifi ve income
a) We audit and made unt as requ prehensi
d Party Transa
ctions
of our ks of acco nt of Com A. During 58,239,323
proper boo Stateme . the year, the 168,223,408
opinion, tion and es’ business of the related Company 58,239,323
b) In our e books; ncial Posi Compani parties and carried out 168,223,408
of thos nt of Fina oses of the Disclosures. nature of these a number of transa
’s Stateme for the purp transactions ctions with
Company Transaction have been related
c) The unts ; made were with key mana set out in accordparty in the normal
ks of acco payments Employee Be gement perso ance with course
the boo rred and nefits nnel: Tk. 20,451 the provisions of business. The names
ure incu ,270 of BAS 24:
expendit Related Party
d) The

iqui Wali Total 20,451,270

Malek SiddAccountants 20,451,270
18,222,000
d
Chartere 18,222,000
3
-16
rt 2015
Annual Repo Annual Report
2015-16
35
Dhaka
Dated:
27, 2016
October
AUDITED
Consolidated FINANCIAL STATEMENTS
OF
Baraka Power Limited and its Subsidiary
AUDITORS’ REPORT
To t he sha r e hol de r s of B a r a ka P ow e r L i m i ted a n d i ts s ub s i d i a ry
We have audited the accompanying Financial Statement of Baraka Power Limited and its subsidiary, which comprise the Consolidated
Statement of Financial Position as at June 30, 2016 and the Consolidated Statement of Profit or Loss and other comprehensive income,
Consolidated Statement of changes in equity and Consolidated statements of cash flows for the year/period then ended and a summary of
significant accounting policies and other explanatory notes. We have also audited the accompanying Financial Statement of Baraka Power
Limited, which comprise the Statement of Financial Position as at June 30, 2016 and the Statement of Profit or Loss and other comprehensive
income, Statement of changes in equity and statements of cash flows for the year/period then ended, and a summary of significant accounting
policies and other explanatory notes.
Management’s Responsibility for the Financial Statements:
The Management is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh
Accounting Standards (BAS)/ Bangladesh Financial Reporting Standard (BFRS), the Companies Act 1994 and other applicable law and
regulations and for such internal control as management determines, which is necessary to enable the preparation of these financial
statements that are free from material misstatement, where due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements of the Company based on our audit. We conducted our audit in
accordance with Bangladesh Standards on Auditing (BSA). Those standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amount and disclosures in the financial statements. The
procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments the auditor considers internal control relevant to the entities’
preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of the entities’ internal control. An audit also includes evaluation the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating
the overall presentation of the financial.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements prepare in accordance with Bangladesh Accounting Standards (BAS)/ Bangladesh Financial Reporting
Standard (BFRS), give a true and fair view of the state of the company’s affairs as of June 30, 2016 and of the results of its operation and its
cash flows for the period then ended and comply with the Companies Act 1994, the Securities and Exchanges Rules 1987 and other applicable
laws and regulations.
We also report that:
a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes
of our audit and made due verification thereof;
b) In our opinion, proper books of account as required by law have been kept by the companies so far as it appeared from our examination
of those books;
c) The Company’s Statement of Financial Position and Statement of Comprehensive income dealt with by the report are in agreement with
the books of accounts ;
d) The expenditure incurred and payments made were for the purposes of the Companies’ business.
Dated: Dhaka Malek Siddiqui Wali

October 27, 2016 Chartered Accountants

Consolidated Statement of Financial Position
As at J u n e 30, 2 01 6
As at June 30, 2016 As at June 30, 2015

Particulars Notes
Amount (Tk.) Amount (Tk.)
ASSETS
A Non-Current Assets
Property, Plant & Equipment 04.A 5,922,031,270 5,761,443,935
Intangible Assets 05.A 44,208 132,459
Capital Work-in-progress 06.A 33,208,342 378,941,386
Investment in Subsidiary 07.A - -
Investment in Associate 08.00 960,000 510,000
IPO Expenses 09.A - 5,209,560
Pre-Operating Expenses 10.A 24,338,015 27,258,577
5,980,581,835 6,173,495,917
B Current Assets
Inventories 11.A 856,472,211 877,796,031
Accounts Receivables 12.A 894,899,779 949,516,228
Other Receivables 13.A 117,462,066 27,284,950
Advances, Deposits & Pre-payments 15.A 264,970,258 192,262,829
Cash & Cash Equivalents 16.A 139,930,897 121,272,778
2,273,735,211 2,168,132,816
C TOTAL ASSETS (A+B) 8,254,317,046 8,341,628,734
EQUITY & LIABILITIES
D Equity Attributable to Owners of the Company
Share Capital 17.A 1,656,776,720 1,534,052,520
Share Premium 18.A 970,000,000 970,000,000
Retained Earnings 19.A 663,882,068 470,274,630
3,290,658,788 2,974,327,150
Non-Controlling Interest 20.00 726,278,701 632,203,906
Total Equity 4,016,937,489 3,606,531,056
E Non-Current Liabilities
Term Loan-Long Term Portion 21.A 3,100,293,873 3,219,514,997
Finance Lease Liability-Long Term Portion 1,918,097 4,848,327
Provision for Gratuity 22.A 7,706,659 5,547,676
3,109,918,629 3,229,911,000
F Current Liabilities
Term Loan-Short Term Portion 21.B 453,159,214 387,975,613
Finance Lease Liability-short Term Portion 2,928,519 2,554,234
Short term Liabilities 23.A 484,716,916 975,485,556
Liabilities for Expenses 24.A 750,306 4,503,599
Provision for Tax 25.A 114,849,173 67,158,418
Payable for WPPF 26.A 19,653,422 16,184,549
Accounts Payable 27.A 51,343,919 51,271,803
Other Payables 28.A 59,459 52,906
1,127,460,928 1,505,186,678
G TOTAL EQUITY & LIABILITIES (D+E+F) 8,254,317,046 8,341,628,734
Net Assets Value Per Share (NAVPS) 19.86 19.39
The accounting policies and other notes form an integral part of these financial statements.
The Financial Statements were approved and authorized for issue by the Board of Directors on the date of October 27, 2016 and signed for and on behalf of the board.
Company Secretary Head of Finance Director
Managing Director Chairman

Signed in terms of our separate report of even date.
56 Baraka Power Limited

Consolidated Statement of Profit or Loss and Other Comprehensive Income
F or t he y e a r e n ded J u n e 30, 2 01 6
For the year ended For the year ended

Particulars Notes June 30, 2016 June 30, 2015
Revenue 29.A 2,960,310,153 3,844,108,738

Cost of Sales 30.A (1,834,352,178) (2,802,015,597)
Gross Profit 1,125,957,975 1,042,093,141
Other Income 31.A 8,518,484 6,459,264
General & Administrative Expenses 32.A (167,874,552) (178,808,520)
Operating Profit 966,601,907 869,743,885
Financial Expenses 33.A (313,708,420) (233,852,622)
Profit before WPPF 652,893,487 635,891,263
Contribution to WPPF (19,653,422) (16,184,549)
Profit before Tax 633,240,065 619,706,714
Income Tax Expenses 34.A (53,804,430) (51,536,442)
Net Profit after Tax 579,435,635 568,170,272
Other Comprehensive Income - -
Total Comprehensive Income For The Year 579,435,635 568,170,272
Profit Attributable To:
Owners of the company 439,055,840 424,105,477
Non controlling interest 140,379,795 144,064,796
579,435,635 568,170,272
Total Comprehensive Income Attributable To:
Owners of the company 439,055,840 424,105,477
Non controlling interest 140,379,795 144,064,796
579,435,635 568,170,272
Earnings per Share:
Basic Earnings per Share (par value Tk. 10 each) 35.A 2.65 2.56


Consolidated Statement of Changes in Equity
Amount in Taka
Equity Attributable to Owners of the Company
Non
Particulars Controlling Total Equity
Retained
Share Capital Share Premium Total Interest
Earnings
Balance as on 01-07-2015 1,534,052,520 970,000,000 470,274,630 2,974,327,150 632,203,906 3,606,531,056
Net Profit/(Loss) during the year - - 439,055,840 439,055,840 140,379,795 579,435,635
Payment of Cash Dividend @ 8% (2014-2015) - - (122,724,202) (122,724,202) (122,724,202)
Issue of Bonus Share @ 8%(2014-2015) 122,724,200 (122,724,200) - - -
Interim Cash Dividend of Subsidiary @ 10% (2015-16) - - - - (46,305,000) (46,305,000)
Balance as on 30-06-2016 1,656,776,720 970,000,000 663,882,068 3,290,658,788 726,278,701 4,016,937,489
Amount in Taka
Equity Attributable to Owners of the Company Non
Particulars Retained Controlling Total Equity
Share Capital Share Premium Total Interest
Earnings
Balance as on 01-07-2014 1,311,156,000 970,000,000 269,065,674 2,550,221,674 488,139,110 3,038,360,784
Net Profit/(Loss) during the year - - 424,105,477 424,105,477 144,064,796 568,170,272
Issue of Bonus Share @ 17% (2013-2014) 222,896,520 - (222,896,520) - - -
Balance as on 30-06-2015 1,534,052,520 970,000,000 470,274,630 2,974,327,150 632,203,906 3,606,531,056


Consolidated Statement of Cash Flows

Cash Flow from Operating Activities:

Cash Receipts from Customer 2,933,042,289 4,072,816,913
Cash Paid to Suppliers & Others (1,757,623,410) (2,998,350,715)
Cash Generated from operating Activities 1,175,418,879 1,074,466,198
Income Tax paid (62,160,367) (22,227,441)
Financial Expenses (272,082,776) (168,820,081)
Net Cash from Operating Activities 841,175,736 883,418,676
Cash Flow from Investing Activities:
Payment against PPE (65,779,177) (51,225,453)
Capital Work-in-Progress - (751,831,267)
Disposal of PPE 850,001 2,569,684
Investment in Associate (450,000) (510,000)
Net Cash Used in Investing Activities (65,379,176) (800,997,036)
Cash Flow from Financing Activities:
Finance Lease (2,555,945) (2,003,353)
Short term liabilities (490,768,640) (252,779,069)
Term Loan (94,784,654) 271,852,360
Interim Dividend paid to Monority shareholders (46,305,000) -
Dividend paid for the year 2014-2015 (122,724,202) -
Net Cash Generated from Financing Activities (757,138,441) 17,069,938
Net Cash Inflow/(Outflow) for the year 18,658,119 99,491,578
Opening Cash & Cash Equivalents 121,272,778 21,781,200
Closing Cash & Cash Equivalents 139,930,897 121,272,778
Net Operating Cash Flows Per Share (NOCFPS) 5.08 5.76
The above balance consists of the following:
Cash in Hand 4,656,648 2,597,526
Cash at Bank 45,270,249 94,442,252
FDR 90,004,000 24,233,000
139,930,897 121,272,778


Consolidated Schedule of Property, Plant & Equipments
As o n J u n e 30, 2 01 6
Schedule-A
Amount in Taka
Cost Depreciation Written Down Value

Sl.
Particulars Addition Adj. made Balance as Charged Adj. made Balance as
No. Balance as at Balance as at As at As at
during the during the Rate (%) at 01-07- during the during the at 30-06-
01-07-2015 30-06-2016 30-06-2016 30-06-2015
year year 2015 year year 2016
01 Land & Land Development 237,111,395 19,478,738 - 256,590,133 - - - - 256,590,133 237,111,395
02 Furniture & Fixtures 5,125,005 200,122 - 5,325,127 10 1,961,979 518,469 2,480,448 2,844,679 3,163,026
03 Office & Electrical Equipment 13,662,421 1,864,608 - 15,527,029 20 9,243,607 1,909,147 11,152,754 4,374,275 4,418,814
04 Office Decoration 11,203,040 32,000 - 11,235,040 20 6,162,061 1,831,455 7,993,516 3,241,524 5,040,979
05 Motor Vehicles 14,762,543 4,232,513 2,675,653 16,319,403 20 10,602,040 2,623,039 2,051,333 11,173,746 5,145,657 4,160,503
06 Building & Civil Construction 483,836,142 46,293,724 - 530,129,866 6.67 56,600,695 34,073,081 90,673,776 439,456,090 427,235,447
07 Maintenance Equipment 13,061,678 2,032,469 - 15,094,147 20 8,716,816 1,868,257 10,585,073 4,509,074 4,344,862
Sub-Total 778,762,224 74,134,174 2,675,653 850,220,745 93,287,198 42,823,448 2,051,333 134,059,313 716,161,432 685,475,026
08 Plant & Machinery 5,483,798,257 316,974,993 - 5,800,773,250 3 414,786,481 184,380,981 - 599,167,462 5,201,605,788 5,069,011,776
Sub-Total 5,483,798,257 316,974,993 - 5,800,773,250 414,786,481 184,380,981 - 599,167,462 5,201,605,788 5,069,011,776
09 Motor Vehicles (Leased Assets) 10,772,336 - - 10,772,336 25 3,815,202 2,693,084 - 6,508,286 4,264,050 6,957,134
Sub-Total 10,772,336 - - 10,772,336 3,815,202 2,693,084 - 6,508,286 4,264,050 6,957,134
Grand Total 6,273,332,817 391,109,167 2,675,653 6,661,766,331 511,888,881 229,897,513 2,051,333 739,735,061 5,922,031,270 5,761,443,936
Allocation of Depreciation:
Cost of Sales 184,380,981
General & Administrative Expenses 45,516,532
Total 229,897,513
Schedule-A
Consolidated Schedule of Intangible Assets

As o n J u n e 30, 2 01 6
Amount in Taka
Cost Amortization Written Down Value

Sl.
No. Balance as at Balance as at No. of As at 30-06- As at 30-06-
during the during the at 01-07- during the during the at 30-06-
01-07-2015 30-06-2016 years 2016 2015
01 IT Software-Tally Acc. Software 140,000 - - 140,000 5 113,249 26,751 - 140,000 - 26,751
02 Share Management Software 200,000 - - 200,000 5 130,417 40,000 - 170,417 29,583 69,583
03 Website Development 107,500 - - 107,500 5 71,375 21,500 - 92,875 14,625 36,125
Grand Total 447,500 - - 447,500 315,041 88,251 - 403,292 44,208 132,459

Baraka Power Limited
Statement of Financial Position
As at J u n e 30, 2 01 6

Particulars Notes
ASSETS
A Non-Current Assets
Property, Plant & Equipment 04.00 1,985,620,579 1,684,560,138
Intangible Assets 05.00 44,208 132,459
Capital Work in Prrogress 06.00 - 361,744,756
Investment in Subsidiary 07.00 481,950,000 481,950,000
IPO Expenses 09.00 - 5,209,560
Pre-Operating Expenses 10.00 24,338,015 27,258,577
2,491,952,802 2,560,855,490
B Current Assets
Inventories 11.00 372,155,411 295,881,149
Accounts Receivables 12.00 249,801,941 178,847,611
Other Receivables 13.00 117,446,066 107,331
Subsidiary Compay Balance 14.00 - 99,591,438
Advances, Deposits & Pre-payments 15.00 240,167,888 177,171,225
Cash & Cash Equivalents 16.00 80,520,062 82,947,406
1,060,091,368 834,546,160
C TOTAL ASSETS (A+B) 3,552,044,170 3,395,401,651

D Total Equity
Share Capital 17.00 1,656,776,720 1,534,052,520
Share Premium 18.00 970,000,000 970,000,000
Retained Earnings 19.00 385,050,674 298,834,480
3,011,827,394 2,802,887,000
E Non-Current Liabilities
Term Loan-Long Term Portion 21.00 204,844,497 292,503,957
Provision for Gratuity 22.00 7,706,659 5,547,676
212,551,156 298,051,633
F Current Liabilities
Term Loan-Short Term Portion 21.00 107,108,577 105,800,000
Short term liabilities 23.00 - 47,609,058
Subsidiary Company Balance 14.00 20,097,645 -
Liabilities for Expenses 24.00 309,622 122,105
Provision for Tax 25.00 134,202,543 78,954,381
Payable for WPPF 26.00 19,653,422 16,184,549
Accounts Payable 27.00 46,234,352 45,740,019
Other Payables 28.00 59,459 52,906
327,665,620 294,463,018
G TOTAL EQUITY & LIABILITIES (D+E+F) 3,552,044,170 3,395,401,651


Statement of Profit or Loss and Other Comprehensive Income

Particulars Notes June 30, 2016 June 30, 2015
Revenue 29.00 841,125,119 822,474,971

Cost of Sales 30.00 (350,850,772) (372,185,207)
Gross Profit 490,274,347 450,289,764
Other Income 31.00 52,333,629 33,145,866
General & Administrative Expenses 32.00 (94,314,645) (96,188,100)
Financial Expenses 33.00 (35,571,474) (47,372,003)
Profit before WPPF 412,721,857 339,875,527
Contribution to WPPF (19,653,422) (16,184,549)
Income Tax Expenses 34.00 (61,403,839) (57,634,965)
Net Profit after Tax 331,664,596 266,056,013
Total comprehensive income for the year 331,664,596 266,056,013
Earnings per Share:
Basic Earnings per Share (par value Tk. 10 each) 35.00 2.00 1.61


Statement of Changes in Equity
f or t he y e a r e n ded J u n e 30, 2 01 6
Amount in Taka
Particulars Share Capital Share Premium Retained Earnings Total
Balance as on 01-07-2015 1,534,052,520 970,000,000 298,834,480 2,802,887,000
Net Profit/(Loss) during the year 331,664,596 331,664,596
Transactions with the shareholders:
Payment of Cash Dividend @ 8% (2014-2015) (122,724,202) (122,724,202)
Issue of Bonus Share @ 8%(2014-2015) 122,724,200 (122,724,200) -
Balance as on 30-06-2016 1,656,776,720 970,000,000 385,050,674 3,011,827,394
Amount in Taka
Particulars Share Capital Share Premium Retained Earnings Total
Balance as on 01-07-2014 1,311,156,000 970,000,000 255,674,987 2,536,830,987
Net Profit/(Loss) during the year 266,056,013 266,056,013
Issue of Bonus Share @ 17% (2013-2014) 222,896,520 (222,896,520) -
Balance as on 30-06-2015 1,534,052,520 970,000,000 298,834,480 2,802,887,000


Statement of Cash Flows


Cash Receipts from Customer 776,659,766 1,082,029,533
Cash Paid to Suppliers & Others (434,835,923) (486,373,474)
Cash Generated from operating Activities 341,823,843 595,656,059
Income Tax paid (62,023,177) (19,370,740)
Payment against PPE (39,045,906) (44,236,039)
Capital Work-in-Progress - (314,129,698)
Disposal of PPE - 2,569,684
Dividend from Subsidiary 48,195,000 -
Net Cash Used in Investing Activities 9,149,094 (355,796,053)
Short term liabilities (47,609,058) (10,150,788)
Payment of Term Loan (87,659,460) (78,919,424)
Dividend paid for 2014-2015 (122,724,202)
Net Cash Generated from Financing Activities (257,992,720) (89,070,212)
Net Cash Inflow/(Outflow) for the year (2,427,344) 84,047,051
Opening Cash & Cash Equivalents 82,947,406 (1,099,645)
The above balance consists of the following:
Cash in Hand 1,464,752 1,839,605
Cash at Bank 41,605,310 81,107,801
FDR 37,450,000 -
80,520,062 82,947,406


Schedule of Property, Plant & Equipment
As o n J u n e 30, 2 01 6
Schedule-B
Amount in Taka
Cost Depreciation Written Down Value

Sl.
Particulars Addition Adj. made Balance as Charged Adj. made Balance
No. Balance as at Balance as at As at As at
during the during the Rate (%) at 01-07- during the during the as at
01-07-2015 30-06-2016 30-06-2016 30-06-2015
year year 2015 year year 30-06-2016
01 Land & Land Development 109,362,515 18,501,238 127,863,753 - - - - 127,863,753 109,362,515
02 Furniture & Fixtures 3,116,569 25,194 3,141,763 10 1,613,199 313,967 1,927,166 1,214,597 1,503,370
03 Office & Electrical Equipment 8,790,133 763,000 9,553,133 20 7,862,246 841,572 8,703,818 849,315 927,887
04 Office Decoration 6,634,375 32,000 6,666,375 20 4,574,816 917,722 5,492,538 1,173,837 2,059,559
05 Motor Vehicles 7,664,287 4,232,513 11,896,800 20 7,226,687 1,292,574 8,519,261 3,377,539 437,600
06 Building & Civil Construction 82,176,991 46,293,724 128,470,715 6.67 30,221,632 7,282,416 37,504,048 90,966,667 51,955,359
07 Maintenance Equipment 9,838,428 - 9,838,428 20 8,492,015 967,653 9,459,668 378,760 1,346,413
Sub-Total 227,583,298 69,847,669 - 297,430,967 59,990,595 11,615,904 - 71,606,499 225,824,468 167,592,703
08 Plant & Machinery 1,827,390,449 316,974,993 - 2,144,365,442 3 310,423,014 74,146,317 - 384,569,331 1,759,796,111 1,516,967,435
Sub-Total 1,827,390,449 316,974,993 - 2,144,365,442 310,423,014 74,146,317 - 384,569,331 1,759,796,111 1,516,967,435
Grand Total 2,054,973,747 386,822,662 - 2,441,796,409 370,413,609 85,762,221 - 456,175,830 1,985,620,579 1,684,560,138
Allocation of Depreciation:
Cost of Sales 74,146,317
General & Administrative Expenses 11,615,904
Total 85,762,221
Schedule-B
Schedule of Intangible Assets

As o n J u n e 30, 2 01 6
Amount in Taka
Cost Amortization Written Down Value

Sl.
No. Balance as at Balance as at No. of As at 30-06- As at 30-06-
during the during the at 01-07- during the during the at 30-06-
01-07-2015 30-06-2016 years 2016 2015
01 IT Software-Tally Acc. Software 140,000 - - 140,000 5 113,249 26,751 - 140,000 - 26,751
02 Share Management Software 200,000 - - 200,000 5 130,417 40,000 - 170,417 29,583 69,583
03 Website Development 107,500 - - 107,500 5 71,375 21,500 - 92,875 14,625 36,125
Grand Total 447,500 - - 447,500 315,041 88,251 - 403,292 44,208 132,459

Notes to the Financial Statements
1.00 Reporting Entity:
1.01 Background of the Company:

Baraka Power Limited previously known as Barakatullah Electro Dynamics Ltd. (hereinafter referred to as the Company) was incorporated in
Bangladesh on June 26, 2007 as a Private Limited Company. On September 25, 2008 the Company was converted as Public Limited Company
under the Companies Act, 1994.
The Company is listed with both Dhaka Stock Exchange Limited (DSE) & Chittagong Stock Exchange Limited (CSE) on May 16, 2011 and trading
of the share of the company has been started from May 19, 2011.
The registered office of the Company is situated at 102 Azadi, Mirboxtola, Sylhet-3100.
1.02 Nature of Business

The principal activity of this Company is to set up power plants for generation and supply of electricity. The plant capacity is 51 MW located
at Fenchugonj, Sylhet, has successfully commissioned on 10 October, 2009 and started its commercial operation from 24 October, 2009 and
supplying to the National Grid uninterruptedly.
1.03 Environmental Commitment:

The Company ethos places a special emphasis on environmental and ecological issues. Its efforts to preserve and regenerate the environment
and expression in the slew of projects and programs it has undertaken in and around its facilities and operations. A Focus area, in this context,
is the climate change crisis. The Company beliefs on sustainability have led to a company policy that emphasizes environment preservation.
Baraka Power Limited work on projects that include experiencing green cover, reducing effluents and emission, maintaining local ecological
and improving long term coronate sustainability.
2.00 Basis of Preparation and Presentation of the Financial Statements:

2.01 Statement of Compliance:
The financial statements have been prepared in accordance with Bangladesh Accounting Standards (BAS), Bangladesh Financial Reporting
Standards (BFRS), the Companies Act, 1994 and other laws and regulations applicable in Bangladesh.
The following Bangladesh Accounting Standards were applied for the preparation of the financial statements for the period under review:
BAS - 1 Presentation of Financial Statements
BAS - 2 Inventories
BAS - 7 Statement of Cash Flows
BAS - 8 Accounting Policies, Changes in Accounting Estimates and Errors
BAS - 10 Events after the reporting period
BAS - 12 Income Taxes
BAS - 16 Property, Plant and Equipment
BAS - 18 Revenue
BAS - 21 The effects of changes in foreign exchange rates
BAS - 23 Borrowing Costs
BAS - 24 Related Party Disclosures
BAS - 28 Investments in associates and Joint Ventures
BAS - 33 Earnings per Share
BAS - 36 Impairment of Assets
BAS - 37 Provisions, Contingent Liabilities and Contingent Assets.
BAS - 39 Financial instruments: Recognition & Measurement
2.02 Other regulatory compliances

In addition to the aforesaid, the Company is also required to comply with the following in addition to the Companies Act 1994 and other
applicable laws and regulations:
The Income Tax Ordinance, 1984
The Income Tax Rules, 1984
The Value Added Tax Act, 1991
The Value Added Tax Rules, 1991
Bangladesh Labor Act, 2006
Securities & Exchange Ordinance, 1969
Securities & Exchange Rules, 1987

2.03 Date of authorization

The Board of Directors authorized the financial statements for issue on October 27, 2016.
2.04 Reporting Period:

The financial period of the Company covers one year from July 01, 2015 to June 30, 2016.
2.05 Accrual Basis of Accounting

These financial statements have been prepared under the accrual basis of accounting.
2.06 Basis of Measurement:

All the elements of financial statements have been measured on “Historical Cost” basis which is one of the most commonly adopted basis as
provided in “The Framework for the Preparation and Presentation of Financial Statements” issued by the Bangladesh Accounting Standards
(BAS).
2.07 Responsibility for Preparation and Presentation of Financial Statements:

The Board of Directors is responsible for the preparation of financial statements under section 183 of the Companies Act, 1994 and as per the
provision of “The Framework for the Preparation and Presentation of Financial Statements” issued by the Bangladesh Accounting Standard
(BAS).
2.08 Use of Estimates and Judgment:

The preparation of financial statements in conformity with BASs requires management to make judgments, estimates and assumptions that
affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ
from these estimates.
Estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognized in the period in
which the estimates are revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both
current and future periods.
In particular, information about significant areas of estimation uncertainty and critical judgments in applying accounting policies that have
the most significant effect on the amount recognized in the financial statements are described in the following notes:
Note 04: Property, Plant & Equipment (considering useful life of assets);
Note 05: Intangible Assets (considering useful life of assets);
Note 09: IPO Expenses (considering period of amortization of assets);
Note 10: Pre-operating Expenses (considering period of amortization of assets);
Note 11: Inventories
Note 12: Accounts Receivable
Note 22: Provision for Gratuity
Note 24: Liabilities for expenses;
Note 25: Provision for Tax.
2.09 Functional and Presentational Currency and Level of Precision:

The financial statements are prepared in Bangladeshi Taka (Taka/Tk./BDT) which is the Company’s both functional currency and presentation
currency. All financial information presented in Taka and have been rounded off to the nearest Taka.
3.00 Significant Accounting Policies:
The accounting policies set out below have been applied consistently through out the period presented in these financial statements.
3.01 Basis of Consolidation

The company has been complied BFRS 10, BAS 27 & BAS 28 in times of preparing consolidated financial statement. Baraka Power Limited
has held shares 51 % as well as management control over as per BAS 28 Para 13 or held share more than 50%, the companies are treated
as subsidiary companies. Baraka Power Limited has held shares more than 20% or equivalent to 50% along with significant influence, the
companies are treated as associate companies and consolidation has been done under “Equity Method”. Controls exist when Baraka Power
Limited has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control,
potential voting rights that presently are exercisable are taken into account. The accounting policies of subsidiaries have been changed when
necessary tie align them with the policies adopted by Baraka Power Limited.

Subsidiaries
Name of Subsidiary Controlling interest Non-controlling interest
Baraka Patenga Power Limited 51% 49%
3.02 Property, Plant and Equipment:

a. Recognition and Measurement:
In compliance with BAS-16 (Property, Plant & Equipment) items of property, plant and equipment (PPE), excluding land, are initially
measured at cost less accumulated depreciation and accumulated impairment losses, if any. Land is measured at cost. The cost of an
item of PPE comprises its purchase price, import duties and non-refundable taxes, after deducting trade discount and rebates and
any costs directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the
intended manner.
b. Capitalization of Borrowing Cost:
Finance costs that are directly attributable to the construction of plants are included in the cost of those plants in compliance with BAS-
23: Borrowing Cost, allowed alternative treatment. Capitalization of borrowing costs cease from the date of the report submitted by
commercial test witness committee which, in accordance with Power Purchase Agreement, confirms the availability of plants for use.
c. Subsequent Costs:
The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable
that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The cost
of the day to day maintaining cost on PPE are recognized in the Statement of Comprehensive Income as incurred.
d. Depreciation:
No depreciation is charged on land and land development.
Depreciation is recognized in the Statement of Comprehensive Income on a straight line basis over the estimated useful lives of each
item of property, plant & equipment.
Each item of PPE are depreciated from the month in which the assets comes into use or capitalized. In case of disposals, no depreciation
is charged in the month of disposal.
Depreciation of Power Plant has been charged considering 30 years of useful life and residual value as 10% of original cost, on straight
line basis on the ground that management intends to continue with operation after completion of 15 years as stated in the Power
Purchase Agreement (PPA).
The rate of depreciation on PPE for the current period as follows:
Name of the Assets As at June 30, 2016
Land & Land development -
Furniture & Fixtures 10.00%
Office & Electrical Equipment 20.00%
Office Decoration 20.00%
Motor Vehicles 20.00%
Maintenance Equipment 20.00%
Building & Civil Construction 6.67%
Plant & Machineries 3.00%
e. Retirements and Disposals:
An asset is derecognized on disposal or when no future economic benefits are expected from its use and subsequent disposal. Gains
or losses arising from the retirement or disposal of an asset is determined as the difference between the net disposal proceeds and
the carrying amount of the asset and is recognized as gain and loss from disposal of asset under other income in the Statement of
Comprehensive Income.
f Impairment
If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset should be reduced to its
recoverable amount. That reduction is an impairment loss. An impairment loss is recognized as an expense in the income statement.
3.03 Intangible assets:

Intangible assets includes IT software which is used to maintain Company’s accounts. It also includes Share Management Software and
Website.

a. Recognition and Measurement:

Intangible assets are measured at cost less accumulated amortization and accumulated impairment loss, if any. It is recognized if it
is probable that future economic benefits that are attributable to the asset will flow to the enterprise and cost of the assets can be
measured reliably as required by BAS 38: Intangible assets. The cost of the Intangible assets comprises its purchase price and any costs
directly attributable to the assets.
b. Subsequent Costs:
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it
relates. All other expenditures are recognized in the Statement of Comprehensive Income when incurred.
c. Amortization:
Amortization is recognized in the Statement of Comprehensive Income on a straight line basis over the estimated useful lives of the
assets, from the month that they are available for use.
The estimated lives of the IT software (Tally.ERP 9), Share Management Software & Website Development are recognized 5 (five) years
from the month of its recognition as per management decision.
3.04 Financial Instruments

A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Financial assets and financial liabilities are recognized when the company becomes a party to the contractual provisions of the instruments.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition
or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are
added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs
directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately
in statement of comprehensive income.
3.05 Advances, deposits & prepayments

Advances are initially measured at cost. After initial recognition advances are carried at cost less deductions, adjustments or charges to other
account heads such as PPE or inventory etc.
3.06 Cash and Cash Equivalents:

For the purpose of Statement of Financial Position and Statement of Cash Flows, Cash in hand and Bank balances represent cash and cash
equivalents considering the BAS-1 “Presentation of Financial Statements” and BAS-7 “Statement of Cash Flows”, which provide that Cash and
Cash equivalents are readily convertible to known amounts of Cash and are subject to an insignificant risk of changes in value and are not
restricted as to use.
3.07 Statement of Cash Flows:

Statement of Cash Flows is prepared principally in accordance with BAS-7 “Statement of Cash Flows” and the cash flow from the operating
activities have been presented under direct method as prescribed by the Securities and Exchange Rules, 1987 and considering the provision
of paragraph 19 of BAS-7 which provides that “Enterprises are Encouraged to Report Cash Flow from Operating Activities Using the Direct
Method”.
3.08 Accounts Receivables:

Accounts receivables consists of unpaid bills receivables from Bangladesh Power Development Board (BPDB) and unbilled revenue recognized
at the Statement of Financial Position date.
3.09 Inventories:
Inventories consisting of lube oil, alternator grease, coolnet water, spare parts etc. These are for use in the operation and maintenance of
power plant. Cost of inventories include expenditure incurred in acquiring the inventories and other costs incurred in bringing them to use.
Inventories are valued at cost or net realized valued which ever is lower.
3.10 Provisions:
A provision is recognized on the Statement of Financial Position date if, as a result of past events, the Company has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the
obligation.

3.11 Employee Benefits

The group maintains both defined benefit plan and defined contribution plan for its eligible permanent employees. The eligibility is
determined according to the terms and conditions set forth in the respective deeds.
a. Defined benefit plan (gratuity)
The Company, for its present eligible permanent employees, operates a gratuity scheme. This gratuity scheme is not recognized by
the National Board of Revenue. The entitlement is equal to one month last basic salary per employee per year. Although no actuarial
valuation was done to quantify actuarial liabilities as per BAS 19: Employment Benefits, such valuation is not likely to yield a result
significantly different from the current provision.
b. Defined contribution plan (provident fund)
The group contributes to a registered provident fund scheme (defined contribution plan) for employees of the group eligible to
be members of the fund in accordance with the rules of the provident fund constituted under an irrevocable trust. All permanent
employees contribute 10% of their basic salary to the provident fund and the group also makes equal contribution. The fund is
recognized by the National Board of revenue.
c. Workers’ profit participation fund
Allocation for workers’ profit participation funds has been made @ 5% of profit before charging such expenses as per provisions of
the Bangladesh Labor Act -2006.
d. Employees’ Life Insurance
The company has introduced employees’ life insurance policy for its permanent employees with insurance coverage effect from July
01, 2015. The amount of premium is calculated based on employees latest basic salary. Premium is charged as expenses in Statement
of Comprehensive Income.
e. Employees’ Car Loan
The Company provides car facility in the form of car loan to its senior management, which the concern employee will pay back in
monthly installment.
f. Leave Encashment
The Company has leave encashment policy for its permanent employee who served at least one year and can avail at the time of
leaving the company.
3.12 Income Tax:

Income tax expenses comprises current tax and deferred tax. Income tax expense is recognized in the Statement of Comprehensive Income
except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity.
a. Current Tax:
Current tax is the expected tax payable on the taxable income for the year, using tax rates applicable in Bangladesh. As per section 52N
of Income Tax Ordinance, 1984, tax at sources shall be deducted from revenue income of the company which will be treated as final
discharge of tax liability. Also current tax is payable in the year for interest on financial & other income.
b. Deferred Tax:
In compliance with BAS-12: Income tax, there are no temporary difference is accrued as yet between the carrying amount of assets and
liabilities for financial reporting purpose and amounts used for taxation purpose. As no deferred tax is accrued.
3.13 Revenue Recognition:

Revenue is initially recognized in the Statement of Comprehensive Income upon supply of electricity based on net energy output on a monthly
basis. Net energy output is determined by the Joint meter reading and verification committee consisting of Baraka Power Limited personnel’s
and BPDB representatives. After initial recognition, adjustment is made on actual bill paid by the BPDB.
3.14 Financial Income and Expenses:

Financial income comprise interest income received from bank on FDR and STD A/C.
Financial expenses comprises interest expenses on term loan. All borrowing costs are recognized in the Statement of Comprehensive Income
using effective interest method except to the extent that they are capitalized during construction period of the plants in compliance with
BAS-23: Borrowing Cost.

3.15 Earnings per Share:

The Company presents basic and diluted (when applicable) earnings per share (EPS) data for its ordinary shares.
a. Basic Earnings per Share:
Basic earnings per share is calculated by dividing the profit and loss attributable to the ordinary shareholders of the Company by the
weighted average number ordinary share outstanding during the period.
b Weighted average number of ordinary shares outstanding during the year:
This represents the number of ordinary shares outstanding at the beginning of the year plus the number of ordinary shares issued
during the year multiplied by a time weighting factor. The time weighting factor is the number of days the specific shares are
outstanding as a proportion of the number of days in the year.
c. Diluted Earnings per Share:
As there were no potential ordinary shares issued by the company, so no dilution is taken into effect.
3.16 Foreign Currency Translation:

Foreign currency transactions are translated into Bangladeshi taka at the rates ruling on the transaction date. All monetary assets and liabilities
at the balance sheet date are translated using rates prevailing on that day. Gain/Loss arising from translation of foreign currency is recognize
as Income/Expenses in the Statement of Comprehensive Income.
3.17 Contingencies:
Contingencies arising from claim, litigation assessment, fines, penalties etc. are recorded when it is probable that a liability has been incurred
and the amount can reasonably be measured.
3.18 Impairment
At each reporting date indications of impairment are reviewed. We assessed Financial & Non-financial assets whether there is objective
evidence that in impaired. As on June 30, 2016 the assessment of indicators of impirement reveals that impirement testing is not required for
the company.
3.19 Related party disclosure:

As per Bangladesh Accounting Standard (BAS -24) the parties are considered to be related if one of the party has the ability to control the other
party or exercise significant influence over the other party in making financial and operating decisions. The company carried out transactions
in the ordinary course of business on an arm’s length basis with its related parties.
3.20 Events after Reporting Period:

Events after reporting period that provide additional information about the Company’s position at the Statement of Financial Position date
are reflected in the financial statements. Events after reporting period that are not adjusting event are disclosed as off Statement of Financial
Position items.
3.21 Going concern

The company has adequate resources to continue the operation for foreseeable future and hence, the financial statements have been prepared
on going concern basis. Assessed by the management, there are no material uncertainties relating to events or conditions which may cause
significant doubt upon the company’s ability to continue as a going concern.


04.00 Property, Plant & Equipment: Tk. 1,985,620,579

Cost
Opening Balance 2,054,973,747 2,015,137,028
Add: Addition during the year 386,822,662 44,236,039
2,441,796,409 2,059,373,067
Less: Adjustment during the year - 4,399,320
Closing Balance of Cost 2,441,796,409 2,054,973,747
Accumulated Depreciation
Opening Balance 370,413,609 305,855,603
Add: Charged during the year 85,762,221 67,520,333
456,175,830 373,375,936
Closing Balance of Depreciation 456,175,830 370,413,609
Written Down Value 1,985,620,579 1,684,560,138
Details of Property, Plant & Equipment is stated in “Schedule - B”.
Hypothecation of all fixed assets on first ranking pari passu basis creating present and future charge with the RJSC against the Term loan that
sanctioned by the IDCOL & Trust Bank Limited.
04.A Consolidated Property, Plant & Equipment: Tk. 5,922,031,270

Baraka Power Limited 1,985,620,579 1,684,560,138
Baraka Patenga Power Ltd. 3,954,491,678 4,094,964,784
5,940,112,257 5,779,524,922
Less: Inter company adjustment 18,080,987 18,080,987
Total 5,922,031,270 5,761,443,935
Details of Consolidated Property, Plant & Equipment is stated in Schedule-A
05.00 Intangible Assets: Tk. 44,208

Cost
Opening Balance 447,500 447,500
Addition during the year - -
Adjustment during the year - -
Closing Balance of Cost 447,500 447,500
Accumulated Depreciation
Opening Balance 315,041 225,541
Charged during the year 88,251 89,500
Adjustment during the year - -
Closing Balance of Depreciation 403,292 315,041
Written Down Value 44,208 132,459

Details of Intangible Assets is stated in Schedule-B
05.A Consolidated Intangible Assets: Tk. 44,208

Baraka Power Limited 44,208 132,459
Baraka Patenga Power Ltd. - -
Total 44,208 132,459
Details of Consolidated Intangible Assets is stated in Schedule-A


06.00 Capital work in progress: Tk. Nil
Plant and Machinery - 316,974,993

Building and Civil Construction - 44,769,763
(Note: 06.01) - 361,744,756
06.01 Closing balance of Capital WIP: Tk. Nil
Particulars
Opening Balance 361,744,756 -
Add: Addition during the year - 361,744,756
361,744,756 361,744,756
Less: Accounted for as PPE 361,744,756 -
Closing Balance - 361,744,756
06.A Consolidated capital work in progress: Tk. 33,208,342
Baraka Power Limited - 361,744,756

Baraka Patenga Power Ltd. 33,208,342 17,196,630
Total 33,208,342 378,941,386
07.00 Investment in subsidiary: TK. 481,950,000

Investment as share capital in BPPL (51%) 481,950,000 481,950,000
Total 481,950,000 481,950,000
Baraka Patenga Power Limited (BPPL) is a Public Company limited by shares has been awarded by the Bangladesh Power Development Board (BPDB)
to implement 50 MW HFO based IPP power plant on BOO (Build Own Operate) basis for a term of 15 years located at Patenga, Chittagong. Baraka
Power Limited (BPL) has been owned 51% shares of BPPL.
07.A Consolidated Investment in Subsidiary: Nil

Baraka Power Limited 481,950,000 481,950,000
481,950,000 481,950,000
Total - -
08.00 Consolidated Investment in Associate: Tk.960,000

Baraka Power Limited - -
Baraka Patenga Power Ltd. 960,000 510,000
960,000 510,000
Less: Inter company adjustment - -
Total 960,000 510,000
Karnapuli Power Limited, being a 48.57% associate company of Baraka Patenga Power Ltd., incorporated as private limited company on November
17, 2014 for the purpose of submitting proposal to Power Division, Ministry of Power, Energy & Mineral Resources (MPEMR) to implement 100MW IPP
power plant on BOO basis. The proposal was submitted and waiting for decision of MPEMR.
Baraka Apparels Limited, a Private Limited company incorporated on October 01, 2015, is in under construction of RMG factory where BPPL has 45%
equity investment.


09.00 IPO Expenses: Tk. Nil

Original cost
Beginning Balance 31,257,360 31,257,360
Add: Addition during the year - -
Ending Balance (A) 31,257,360 31,257,360
Amortization expenses
Ending Balance (B) 31,257,360 26,047,800
Total (A-B) - 5,209,560
Amortization expenses charged to IPO Expenses from the months of it’s recognition through 05 years on a straight line basis as per management
decision of the Company in compliance with Para-M & N, Part -1, Schedule-XI of Companies Act, 1994.
09.A Consolidated IPO Expenses: Tk. Nil
Total - 5,209,560
10.00 Pre-operating Expenses: Tk. 24,338,015
Original cost
Add: Addition during the year - -
Ending Balance (A) 43,808,428 43,808,428
Amortization expenses
Ending Balance (B) 19,470,413 16,549,851
Total (A-B) 24,338,015 27,258,577
Amortization expenses charged to the pre-operating expenses throughout 15 years of contractual life of the project on a straight line basis as per
management decision in compliance with Para-M & N, Part -1, Schedule-XI of Companies Act, 1994.
10.A Consolidated Pre-operating Expenses: Tk. 24,338,015
Total 24,338,015 27,258,577
11.00 Inventories: Tk. 372,155,411
Opening Balance 295,881,149 244,440,258
Add: Purchase during the period 121,130,719 101,327,945
417,011,868 345,768,203
Less: Consumption during the period 44,856,457 49,887,054
Closing Balance (Note-11.01) 372,155,411 295,881,149
11.01 Closing Balance of Inventories: Tk.372,155,411

Particulars Quantity
Spare Parts 25079 pcs 335,929,837 268,588,692
Lube Oil 114574 ltr 36,090,795 27,131,446
Other Lubricants 171 ltr 134,779 161,011
Total 372,155,411 295,881,149


11.A Consolidated Inventories: Tk. 856,472,211

Closing Balance 856,472,211 877,796,031
The balance of inventories are verified and reconciled by the management team at the year end.
12.00 Accounts Receivables: Tk. 249,801,941

Bangladesh Power Development Board (BPDB) 249,801,941 178,847,611
Total 249,801,941 178,847,611
This balance represents the arrear bill from BPDB and considered good and collectable.
Aging of Accounts Receivables
Invoiced 0-30 days 75,113,593 83,683,436
Invoiced 30-180 days 94,780,832 74,413,928
Invoiced over 180 days 79,907,516 20,750,247
Total 249,801,941 178,847,611
12.A Consolidated Accounts Receivables: Tk. 894,899,779

Total 894,899,779 949,516,228
Aging of Accounts Receivables
Invoiced 0-30 days 333,386,611 323,079,444
Invoiced 30-180 days 344,207,866 502,280,904
Invoiced over 180 days 217,305,302 124,155,880
Total 894,899,779 949,516,228
13.00 Other Receivables: Tk. 117,446,066

Mr. Nazmul Hassan Chowdhury 250,000 -
Pathmark Associates Limited - 107,331
Greenland Equities Limited 12,652 -
Podder & Associates Limited 61,533 -
Baraka Apparels Limited 80,683,242 -
Karnaphuli Power Limited (KPL) 406,731 -
Royal Educare Ltd. 36,031,908 -
Total 117,446,066 107,331
13.A Consolidated Others Receivables: Tk. 117,462,066

Baraka Power Limited 117,446,066 107,331
Baraka Patenga Power Ltd. 16,000 27,177,619
Total 117,462,066 27,284,950
14.00 Subsidiary Company Balance: Tk. (20,097,645)

Baraka Patenga Power Limited (20,097,645) 99,591,438
Total (20,097,645) 99,591,438


15.00 Advances, Deposits & Pre-payments: Tk. 240,167,888

Advances:
Advance Income Tax 117,983,132 62,115,632
Advance against Inventory & PPE ( Note : 15.01) 25,983,281 12,136,560
Advance against Employees’ Car Loan* 4,194,608 7,721,888
Advance against rent of Vehicle 2,400,000 4,800,000
Sub Total 150,561,021 86,774,080

Deposits:
Deposit for Bank Guarantee 84,060,806 84,060,806
Sub Total 84,060,806 84,060,806
Prepayments:
Prepayment for Office Rent 1,606,440 1,505,840
Prepayment for Financial Expenses 2,636,144 3,514,656
Prepayment against Insurance Premium 1,303,477 1,315,843
Sub Total 5,546,061 6,336,339
Grand Total 240,167,888 177,171,225
*Employees’ car loan is considered as good and collectable/adjustable against monthly salary. The loan will be adjusted within one year of Tk.
11,43,984/= and more than one year of Tk. 3,050,624/=
15.01 Advance against Inventory & PPE :Tk. 25,983,281

Inventory Sofware 100,000 90,000
Commercial Space 14,400,000 8,900,000
Advance against Vehicle 8,500,000 -
Radialink Tower Installation - 42,000
Land and Land Developments 2,550,000 2,550,000
Spare Parts 433,281 554,560
Total 25,983,281 12,136,560
* Baraka Power Limited has agreed to purchase 3,200 sft. @ 4,500/= (total value of Tk. 1,44,00,000) commercial space at 5th floor of Royal Mark,
Sylhet from Royal Homes Limited, which is a related party under common management.
15.A Consolidated Advances, Deposits & Pre-payments:Tk. 264,970,258

Total 264,970,258 192,262,829


16.00 Cash & Cash Equivalents: Tk.80,520,062
Cash in Hand 1,464,752 1,839,605

Sub Total 1,464,752 1,839,605
Cash at Bank & NBFI
Trust Bank Ltd., Sylhet Cor. Br. 2,676,378 2,692,525
Trust Bank Ltd., SND A/C, Sylhet Cor. Br. 132,099 67,265,714
Trust Bank Ltd., IB A/C, Sylhet Cor. Br. 39,985,694 15,491,194
EXIM Bank Ltd., Fenchugonj Br. 23,756 24,502
BRAC Bank Ltd., Gulshan Br. 213,056 214,706
Shahjalal Islami Bank Ltd., Dhaka Main Br. 172,646 174,296
UCBL, Principal Br., Dhaka (2,453,561) (1,621,465)
One Bank Ltd., Kakrail Br. 65,457 66,757
Eastern Bank Limited 789,785 (3,200,428)
Sub Total 41,605,310 81,107,801
FDR 37,450,000 -
Grand Total 80,520,062 82,947,406
The bank balances have been confirmed and reconciled with respective bank statements.
Cash in hand has been verified by the management at the close of the year.
16.A Consolidated Cash & Cash Equivalents: Tk.139,930,897

Total 139,930,897 121,272,778
17.00 Share Capital: Tk. 1,656,776,720
Authorized:
300,000,000 Ordinary Shares of Tk. 10 each 3,000,000,000 3,000,000,000
(300,000,000 Ordinary shares of Tk. 10 each in the year ended June 30, 2015)
Issued, Subscribed and Paid-up:
(153,405,252 Ordinary Shares of Tk. 10 each in the year ended June 30. 2015)
17.A Consolidated Share Capital: Tk. 1,656,776,720

Authorized:
(300,000,000 Ordinary shares of Tk. 10 each in the year ended June 30, 2015)
Issued, Subscribed and Paid-up:
(153,405,252 Ordinary Shares of Tk. 10 each in the year ended June 30. 2015)

Shareholding Position is as follows:

Percentage of Shareholdings Amount in Taka
Sl. No. Name of shareholders
30-06-2016 30-06-2015 30-06-2016 30-06-2015
01 FAISAL AHMED CHOWDHURY 2.08 2.08 34,435,890 31,885,090
02 MD. AHSANUL KABIR 2.49 2.49 41,323,080 38,262,120
03 GULAM RABBANI CHOWDHURY 2.08 2.08 34,435,890 31,885,090
04 NANU KAZI MOHAMMED MIAH 2.00 2.00 33,141,590 30,686,660
05 ROBIN CHOUDHURY 7.35 7.35 121,835,290 112,810,460
06 ABDUL BARI 2.00 2.00 33,169,500 30,712,500
07 ABDUS S MAJID 0.98 0.98 16,200,660 15,000,620
08 MD. AHMED ALI 0.92 0.92 15,318,450 14,183,750
09 OTHER SHAREHOLDERS 80.09 80.09 1,326,916,370 1,228,626,230
Total 100.00 100.00 1,656,776,720 1,534,052,520
Details of the Shareholding is given below:

The distribution schedule showing the number of Shareholders and their shareholding in percentage has been disclosed below:
No. of Shareholders Holding%
Range of holdings in number of Shares
30-06-2016 30-06-2015 30-06-2016 30-06-2015
Less than 500 shares 24,726 31,661 3.92 5.21
500 to 5,000 shares 3,386 6,669 3.56 7.87
5,001 to 10,000 shares 568 1,031 2.47 5.09
10,001 to 20,000 shares 322 567 2.80 5.45
20,001 to 30,000 shares 130 218 1.92 3.56
30,001 to 40,000 shares 61 101 1.28 2.32
40,001 to 50,000 shares 47 66 1.30 2.00
50,001 to 100,000 shares 82 122 3.44 5.67
100,001 to 1,000,000 shares 148 149 28.41 30.73
1,000,001 to 10,000,000 shares 31 22 50.90 32.10
Total 29,501 40,606 100 100

18.00 Share Premium: Tk. 970,000,000

Share premium 1,000,000,000 1,000,000,000
Less: Tax deducted at source (TDS) 30,000,000 30,000,000
Total 970,000,000 970,000,000
The Company has been issued 20,000,000 ordinary shares of Tk. 60 each (including premium of Tk. 50) through Initial Public Offering (IPO) and
according TDS @ 3% on Share Premium has been deducted as per section 53L of Income Tax Ordinance, 1984. Income Tax expenses has been adjusted
against the Value of Share Premium in compliance with section 57 of the Companies Act, 1994.
18.A Consolidated Share Premium: Tk. 970,000,000

Total 970,000,000 970,000,000


19.00 Retained Earnings: Tk. 385,050,674

Opening Balance 298,834,480 255,674,987
Add: Net profit during the year 331,664,596 266,056,013
630,499,076 521,731,000
Less: Payment of cash dividend 122,724,202 -
Less: Issue of stock dividend 122,724,200 222,896,520
Total 385,050,674 298,834,480
19.A Consolidated Retained Earnings: Tk. 663,882,068

Opening Balance 470,274,630 269,065,674
Add: Profit/(Loss) during the year 439,055,840 424,105,477
909,330,470 693,171,150
Less: Cash dividend 122,724,202 -
Less: Stock dividend 122,724,200 222,896,520
Total 663,882,068 470,274,630
20.00 Consolidated Non Controlling Interest: Tk. 726,278,701
Opening balance 632,203,906 488,139,110
Add: Non-controlling interest for the year 140,379,795 144,064,796
772,583,701 632,203,906
Less: Interim Cash Dividend @ 10% (2015-16) 46,305,000 -
Total 726,278,701 632,203,906
21.00 Term Loan : Tk. 311,953,074
Long Term Portion: Tk.204,844,497
Infrastructure Development Company Ltd. (IDCOL) 128,499,740 179,899,844
Trust Bank Ltd. 76,344,757 112,604,113
Sub Total 204,844,497 292,503,957
Short Term Portion: Tk. 107,108,577
Infrastructure Development Company Ltd. (IDCOL) 51,400,000 51,400,000
Trust Bank Ltd. 54,400,000 54,400,000
Interest Payable 1,308,577 -
Sub Total 107,108,577 105,800,000
Grand-Total 311,953,074 398,303,957
On July 17, 2013, Trust Bank Limited has approved term loan facility of BDT 350.00 million at interest rate of 15.5% p.a. for tenor of 06 years and
payable quarterly an amount of Tk. 13,600,000 to pay off existing Syndicated Term Loan Facility with different lenders and accordingly the company
has already pay off Syndicated Term Loan facility on August 19, 2013. Now, the interest rate is reduced at 10.50% p.a and the no. of outstanding
installment is 13 (Thirteen).
Infrastructure Development Company Limited (IDCOL) has approved a Term Loan facility of USD 04 million on August 29, 2013 at interest rate of 6
months LIBOR + 5% for tenor of 06 years and payable quarterly an amount of USD 1,66,667 plus interest as regard to partially pay off the existing high
cost bearing term loan of TBL. Now the no. of outstanding installment is 14 (Fourteen).
The security package for the term loan is as follows:
-Mortgage of project land;
-Hypothecation of all fixed and floating assets including but not limited to machinery, book debts, furniture, fixture and equipment on first ranking
pari passu basis creating present and future charge with the RJSC;
-Establishment of Escrow Account and Debt Service Account with appropriate cashflow;
-Directors’ Personal Guarantee;
-Co-payee of benefits under all insurance policies insuring the relevant moveable and immoveable assets of the issuer.


21.A Consolidated Term Loan (Long Term): Tk. 3,100,293,873

Total 3,100,293,873 3,219,514,997
21.B Consolidated Term Loan (Short Term): Tk. 453,159,214
Total 453,159,214 387,975,613
22.00 Provision for Gratuity: Tk. 7,706,659
Opening Balance 5,547,676 4,366,589
Add: Provision made during the year 2,652,229 1,181,087
8,199,905 5,547,676
Less: Payment made during the year 493,246 -
Closing Balance 7,706,659 5,547,676
22.A Consolidated Provision for Gratuity: Tk. 7,706,659
Total 7,706,659 5,547,676
23.00 Short term liabilities: Tk. Nil
Bank Overdraft, Trust Bank Limited - (6,000)
L/C liability - Trust Bank Limited - 47,615,058
Total - 47,609,058
Trust Bank Limited has been sanctioned overdraft facility of Tk. 3.00 million at interest rate of 10.50% p.a. for the purpose to meet day to day operational
requirement of the Company.
23.A Consolidated Short term liabilities: Tk. 484,716,916
Total 484,716,916 975,485,556
24.00 Liabilities for Expenses: Tk. 309,622
Audit Fees 230,000 115,000
Utility Expenses 79,622 4,265
Office Rent - 2,840
Total 309,622 122,105
24.A Consolidated Liabilities for Expenses: Tk. 750,306
Baraka Patenga Power Ltd. 440,684 4,381,494
Total 750,306 4,503,599
25.00 Provision for Income Tax: Tk. 134,202,543
Opening balance 78,954,381 56,930,104
140,358,220 114,565,069
Less: Adjustment during the year 6,155,677 35,610,688
Closing balance 134,202,543 78,954,381


25.A Consolidated Provision for Income Tax: Tk. 114,849,173

138,371,976 81,204,560
Total 114,849,173 67,158,418
25.01 Provision for Income Tax on Revenue: Tk. 114,979,744

Opening balance 64,512,237 50,398,354
114,979,744 99,746,852
Closing balance 114,979,744 64,512,237
25.01.A Consolidated Provision for Income Tax on Revenue: Tk. 114,979,744

Total 114,979,744 64,512,237
26.00 Payable for WPPF: Tk. 19,653,422

Opening Balance 16,184,549 13,344,371
Add: Addition made during the year 19,653,422 16,184,549
35,837,971 29,528,920
Less: Payment made during the year
Participation Fund 12,947,639 10,675,497
Welfare Fund 3,236,910 2,668,874
Closing Balance 19,653,422 16,184,549
The balance represents contribution to Workers’ Profit Participation Fund formed by the Company in accordance with the Section-3 of The Companies
Profits (Workers’ Participation) Act, 1968 for the year ended June 30, 2016.
26.A Consolidated Payable for WPPF: Tk.19,653,422

Total 19,653,422 16,184,549
27.00 Accounts Payable: Tk. 46,234,352
Jalalabad Gas T & D Co. Limited 46,110,152 45,740,019

Clarke Energy 124,200 -
Total 46,234,352 45,740,019
Aging of Accounts Payable
0-30 days 46,110,152 23,989,274
30-180 days 124,200 21,750,745
over 180 days - -
Total 46,234,352 45,740,019



27.A Consolidated Accounts Payables: Tk. 51,343,919

Total 51,343,919 51,271,803
Aging of Accounts Payable
0-30 days 51,219,719 27,963,191
30-180 days 124,200 23,308,612
over 180 days - -
Total 51,343,919 51,271,803
28.00 Other Payables: Tk. 59,459

Other payable for IPO proceeds 48,000 48,000
Other payable for Dividend Suspense A/C 11,459 4,906
Total 59,459 52,906
Other payable for IPO proceeds consists of subscription money of 04 applicants of IPO proceeds.
28.A Consolidated other Payables: Tk. 59,459

Baraka Patenga Power Ltd. - 99,591,438
59,459 99,644,344
Less: Inter company adjustment - 99,591,438
Total 59,459 52,906

June 30, 2016 June 30, 2015
29.00 Revenue: Tk. 841,125,119

Capacity Proceeds 367,001,139 362,060,024
Variable Operational & Maintenance Proceeds 136,681,523 129,003,226
Energy Proceeds 337,442,457 331,411,721
Total 841,125,119 822,474,971
29.A Consolidated Revenue: Tk. 2,960,310,153

Total 2,960,310,153 3,844,108,738
30.00 Cost of Sales : Tk. 350,850,772

Gas Consumption 227,071,686 259,760,513
Lubricants and Chemical Consumption (Note: 30.01) 19,572,861 20,705,954
Spare Parts Consumption (Note: 30.02) 25,283,596 29,181,100
Depreciation on Plant & Machinery 74,146,317 54,821,713
Repair & Maintenances on Plant & Machinery 4,776,312 7,715,927
Total 350,850,772 372,185,207


June 30, 2016 June 30, 2015
30.01 Lubricants and Chemical Consumption: Tk. 19,572,861

Opening Balance 27,292,457 11,016,392
Add: Purchase during the year 28,505,979 36,982,019
55,798,436 47,998,411
Less: Closing Balance 36,225,575 27,292,457
Consumption during the year 19,572,861 20,705,954
Lubricants and chemical consists of Diesel,Lube oil, Caustic Soda, Grease, Coolnet water, Maxi Guard etc.
30.02 Spare Parts Consumption: Tk.25,283,596

Opening Balance 268,588,692 233,423,866
Add: Purchase during the year 92,624,741 64,345,926
361,213,433 297,769,792
Less : Closing Balance 335,929,837 268,588,692
Consumption during the year 25,283,596 29,181,100
30.A Consolidated Cost of Sales: Tk. 1,834,352,178

Total 1,834,352,178 2,802,015,597
31.00 Other Income: Tk. 52,333,629

Gain on disposal of Assets - 1,132,691
Foreign Exchange Gain /(Loss) (1,050,699) (747,201)
Dividend Income from Subsidiary 48,195,000 -
Gain/(loss) on providing O & M Service 216,452 -
Interest Income earned on Loan from Related Party 4,790,357 32,417,889
Bank Interest 182,519 342,487
Total 52,333,629 33,145,866
31.A Consolidated Other Income: Tk. 8,518,484

56,929,936 38,877,153
Total 8,518,484 6,459,264


June 30, 2016 June 30, 2015
32.00 General & Administrative Expenses: Tk. 94,314,645
Salary & Allowances 33,118,124 32,061,777
Gratuity Expenses 2,652,229 1,181,087
Director’s Remuneration 10,950,000 10,032,000
Communication Expenses 1,115,135 1,099,010
Travelling & Conveyance 1,544,563 2,843,772
Utility Expenses 887,287 504,292
Office Rent, Rates & Taxes 874,880 862,777
AGM & EGM Expenses 4,388,327 4,500,574
Vehicle Running Expenses 4,062,332 4,897,915
General Repair & Maintenances 971,766 1,449,687
Entertainment & Others 901,104 796,407
Business Development Expenses 467,985 1,291,933
Legal Fees & Professional Consultancy 29,261 216,584
Staff Fooding & Lodging 1,097,984 1,299,768
Advertisement & Publicity 461,467 328,217
Tender Expenses 231,000 -
Audit Fees 230,000 115,000
Photocopy & Stationeries 292,789 277,069
Uniform 357,172 276,806
Newspaper, Books & Periodicals 45,918 43,205
Printing Expenses 259,936 433,320
Annual Fees 2,850,335 3,013,171
Insurance Premium 4,389,657 3,837,826
Education & Training 8,600 42,210
Gardening Expenses 47,181 4,900
Annual Religious & Cultural Expenses 939,378 1,172,303
Gift & Greetings 106,332 334,460
ISO Certification Expenses - 14,500
Rest House Keeping Expenses 980,876 977,376
Meeting Attendance Fee 218,750 320,000
Amortization Expenses 8,218,373 9,261,534
Depreciation Expenses 11,615,904 12,698,620
Total 94,314,645 96,188,100
32.A Consolidated General & Administrative Expenses: Tk. 167,874,552
Total 167,874,552 178,808,520
33.00 Financial Expenses: Tk. 35,571,474
Term Finance Expenses 31,945,329 43,088,119
Other Financial Expenses 1,374,197 -
Bank Charge & Commission 104,580 60,158
Bank Guarantee Expenses 2,147,368 4,223,726
Total 35,571,474 47,372,003
33.A Consolidated Financial Expenses: Tk. 313,708,420
313,708,420 266,270,511
Less: Inter company adjustment - 32,417,889
Total 313,708,420 233,852,622


June 30, 2016 June 30, 2015
34.00 Income Tax Expenses: Tk. 61,403,839

Income tax expenses on Revenue 50,467,507 49,348,498
Income tax expenses on Financial Income 45,630 85,622
Income tax expenses on Dividend Income 9,639,000 -
Income tax expenses on Income from Other Sources 1,251,702 8,200,845
Total 61,403,839 57,634,965
34.A Consolidated Income Tax Expenses: Tk. 53,804,430

63,497,543 59,640,914
Total 53,804,430 51,536,442
35.00 Earnings Per Share (EPS) : Tk. 2.00

Profit Attributable to Ordinary Shareholders 331,664,596 266,056,013
Weighted Average Number of Ordinary Shares Outstanding during the year (Note 35.01) 165,677,672 165,677,672
Basic Earnings Per Share (EPS) 2.00 1.61
35.A Consolidated Earnings Per Share (EPS): Tk. 2.65

Profit Attributable to Ordinary Shareholders 439,055,840 424,105,477
Weighted Average Number of Ordinary Shares Outstanding during the year (Note 35.01) 165,677,672 165,677,672
Total 2.65 2.56
35.01 Weighted Average Number of Ordinary Shares Outstanding
The weighted average number of ordinary shares outstanding during the year is the number of ordinary shares outstanding at the beginning
of the year, adjusted by the number of ordinary shares issued during the year multiplied by a time-weighted factor. The time-weighted factor
is the number of days that the shares are outstanding as a proportion of the total number of days in the year (considering 360 days in a year).
Date of Allotment Ordinary Share Weighted No. of Share Calculation Weighted No. of Share
01-07-2015 153,405,252 153,405,252
Bonus for the year 2014-15 @ 08% 12,272,420 360 12,272,420 * 360/360 12,272,420
Total 165,677,672 165,677,672
35.02 Dilution of Earnings Per Share

No diluted earnings per share is required to be calculated for the year presented as there was no potential ordinary shares has been
issued by the company, as such no scope for dilution during the year.

36.00 Contingent Liability:TK. 199,112,387
Consolidated and separate contingent liability existed for the Company is Tk. 419,112,387 and 199,112,387 respectively as at June 30, 2015 in relation to issue of
bank guarantee in favor of Bangladesh Power Development Board, JGT&DCL, Commissioner of Customs, Customs House (Import)-Dhaka, Chittagong & Benapole.
The company has been filed few petition involving an amount of Tk. 10,11,76,307 (writ # 868/2009, 2100/2009, 2788/2009, 3272/2009, 3807/2009,
5641/2009) against BPDB, NBR, Custom and other parties for taking the exemption facility of import duty, VAT, Supplementary duty etc.
2016 2015
Nature of Contingent Liability BG No. Expiry date
Amount (Tk) Amount (Tk)
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Dhaka 77/2011, UCBL Open ended 591,537 591,537
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Dhaka 35/09, TBL Open ended 55,356 55,356
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 30/2011, UCBL Open ended 120,615 120,615
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 32/2011, UCBL Open ended 6,526,384 6,526,384
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 06/2013, TBL Open ended 5,775,934 5,775,934
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 07/2013, TBL Open ended 664,022 664,022
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 10/2013, TBL Open ended 207,146 207,146
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 05/2013,TBL Open ended 421,806 421,806
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Ctg. 04/2013,TBL Open ended 8,257,227 8,257,227
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Benapole 64/2011, UCBL Open ended 1,530,870 1,530,870
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Benapole 66/2011, UCBL Open ended 900,512 900,512
Bank Guarantee-Commissioner of Customs, Customs House (Import) - Benapole 68/2011, UCBL Open ended 33,196 33,196
Bank Guarantee-Jalalabad Gas Transmission & Distribution Co. Ltd. -Sylhet 15/2013, TBL Nov.30, 2016 60,886,080 60,886,080
Bank Guarantee-Bangladesh Power Development Board, Dhaka** 062/2011, ONE 04-02-2012 37,050,000 37,050,000
Total 199,112,387 199,112,387
** Bangladesh Power Development Board (BPDB) has not released the original bank guarantee yet.

30-06-2016 30-06-2016
Taka Taka
36.A Consolidated Contingent Liability: Tk.419,112,387

Total 419,112,387 419,112,387
37.00 Commitment of Capital Expenditure: Tk. Nil
Value as at 30-06-2016 Value as at 30-06-2015

Name of beneficiary L/C Number Currency
in FCY in BDT in FCY in BDT
GE Jenbacher GMBH and Co. Ltd. 236514020004 EURO 557,542 50,139,738
Total - - 557,542 50,139,738
38.00 Remittance of Foreign Currency: Tk. 58,239,323
Value as at 30-06-2016 Value as at 30-06-2015

Name of beneficiary L/C Number Currency
in FCY in BDT in FCY in BDT
GE Jenbacher GMBH and Co. Ltd. 236514020002 EURO - - 704,427.00 68,042,567
Transocean Energy Services Pte Ltd 236514010012 USD - - 14,573.00 1,135,966
Hydraulic stud tensioner kit. 236514010014 USD - - 10,356.00 807,768
SYSTEMAIR SDN BHD 236514010017 USD - - 3,250.00 253,013
Forain S.r.l, Italy 236515010001 EURO - - 6,010.00 553,873
Motwane Mfg Co. Pvt. Ltd 236515FTT007 USD - - 1,496.00 118,412
GE Jenbacher GMBH and Co. Ltd. 236515010011 EURO 65,272.75 5,787,735 - -
Ningbo Demy 236515FTT014 USD 895.00 69,989 - -
Turbo International 236515010012 USD 21,485.00 1,695,167 - -
Symtec 236515FTT020 USD 1,180.00 93,102 - -
SYSTEMAIR SDN BHD 236516010001 USD 2,175.00 171,825 - -
Total 646,533 58,239,323 1,770,554 168,223,408
39.00 Value of Imports Calculated on CIF Basis: Tk. 58,239,323

Spare Parts 58,239,323 168,223,408
Total 58,239,323 168,223,408
40.00 Related Party Transactions

A. During the year, the Company carried out a number of transactions with related party in the normal course of business. The names
of the related parties and nature of these transactions have been set out in accordance with the provisions of BAS 24: Related Party
Disclosures.
Transaction with key management personnel: Tk. 20,451,270
Total 20,451,270 18,222,000

Key management personnel includes Chairman & Head of Planning & Business Development, Vice Chairman & Head of Administration,
Managing Director, Director-Finance, Company Secretary, GM- O&M and DGM-Commercial.
B. Other Related Party Transactions
Name of the Related Party Nature of Relationship Nature of Transaction 30-06-2016 30-06-2015 30-06-2016 30-06-2015
Taka Taka Taka Taka
Baraka Patenga Power Limited Subsidiary company Short term loan 195,491,226 518,208,299 . 99,591,438
Royal Homes Limited Common Management Advance for Commercial Space 14,400,000 8,900,000 - -
Royal Educare Limited Common Management Short term loan 36,031,908 - 36,031,908 -
Karnaphuli Power Limited Common Management Short term loan 406,731 - 406,731 -
Baraka Apparels Limited Common Management Short term loan 80,683,242 - 80,683,242 -
Short term loan to/from related party is interest bearing and interest rate is now @13% p.a.
41.00 Capacity & Generation
Licensed Plant factor (% on Licensed Capacity) Energy

Installed considering the unit of energy sold Generation Energy
Plant Particulars Capacity
Capacity (MwH) Sold (MwH)
(MwH) Average Maximum (MwH)
Fenchugonj, Sylhet - Gas Fired 51MW 446,760 483,026 82.10% 96.76% 381,678 368,486
Patenga, Chittagong - HFO Fired 50MW 438,000 489,421 58.01% 93.56% 301,508 288,126
42.00 Disclosure as per Requirement of Schedule XI, Part II of Companies Act, 1994
a. Disclosure as per Requirement of Schedule XI, Part II Para 4:
Payment to Directors during the year ended June 30, 2016
Name Designation Period 30-06-2016 30-06-2015
Mr. Faisal Ahmed Chowdhury Chairman & Head of Planning & Business Development July’15 to June ‘16 4,305,000 3,960,000
Mr. Gulam Rabbani Chowdhury Managing Director July’15 to June ‘16 4,305,000 3,960,000
Mr. Md. Ahsanul Kabir Vice-Chairman & Head of Administration July’15 to June ‘16 2,340,000 2,112,000
Total 10,950,000 10,032,000
In Addition to the above, directors who attend the board meeting, have drawn board meeting attendance fee @ Tk.5,000 per director per
meeting. The total board meeting attendance fee during the year is Tk. 218,750.
43.00 General Disclosures:
43.01 Number of regular employees receiving remuneration of Tk 36,000 or above per annum was 111 (one hundred eleven) as at June 30,
2016 and was 109 as at June 30, 2015 as disclosure required by the Schedule XI, Part II, note 5 of Para 3 of The Companies Act,
1994.
43.02 Comparative figures have been rearranged wherever considered necessary to conform to the current year’s presentation.
43.03 Figures are rounded off to the nearest Taka.
44.00 Events after reporting period:

a. The board of the directors of the company in their meeting held on October 27, 2016 has proposed cash dividend @ 15% (i.e. Tk.
1.50 per share of Tk. 10 each) and Stock dividend @ 5% (i.e. 05 shares for every 100 shares) for the year ended June 30, 2016.
Dividend is subject to approve by the shareholders at the forthcoming Annual General Meeting (AGM) of the company.

DIRECTORS’ REPORT
AND
AUDITED FINANCIAL STATEMENTS
OF
THE SUBSIDIARY COMPANY

Directors’ Report
to the Shareholders of Baraka Patenga Power Limited
F o r the y ear en ded J u n e 3 0, 2016
Bismillahir Rahmanir Rahim
Distinguished Shareholders,
Assalamualykum,
On behalf of the Board of the Directors and Management, I delightfully Credit Risk
welcome you all to the 6th Annual General Meeting of Baraka Patenga Credit Risk is the risk that one party to a financial instrument will cause a
Power Limited (BPPL). We are pleased to present herewith the Directors’ financial loss for the other party by falling to discharge an obligation. The
Report on operational activity of the company and the Financial Statements company’s sales is made to Bangladesh Power Development Board under
of the Company for the year ended June 30, 2016 thereon, for your valued the conditions of the Power Purchase Agreement (PPA). Credit Risk does
consideration, approval, and adoption. not arise in respect of any other receivables.
Industry Outlook and Future Development The maximum exposure to credit risk is represented by the carrying amount
of each financial asset in the statement of financial position at the reporting
The Board has the pleasure to inform you that the 50 MW HFO fired date was :
IPP power plant at Patenga, Chittagong has been generating electricity
smoothly from its commercial operation on May 04, 2014 to till date . The 30-06-16 30-06-15
Exposure to Credit Risk
plant has showed excellent performance by contributing 288,125,856 units Taka Taka
(kWh) of electricity to the National Grid with revenue of Tk. 2,119,185,034
during the year ended June 30, 2016. Accounts Receivable 645,097,838 770,668,617
The board also informs you that the Co-generation exhaust gas secondary Advances, Deposits & Prepayments 24,802,370 15,091,604
power plant having capacity of 3.20 MW has been running successfully Other Receivable 16,000 27,177,619
throughout the year. The STG plant runs by heat recovery from 08 nos. Cash & Cash Equivalents 59,410,835 38,325,372
of Rolls Royce gensets exhaust gas without burning any fuel and will
reduce the fuel cost by 6.40% annually. In addition, a Desulfurization plant 729,327,043 851,773,212
of our project is also playing a great role to reduce sulfur emission at an
acceptable low level. 30-06-16 30-06-15
Aging of Accounts Receivable
Segment wise or Product wise Performance Taka Taka
Invoiced 0-30 days 258,273,018 239,396,008
Invoiced 30-180 days 249,427,034 427,866,976
Plant Factor (% on Licensed
Licensed Installed
Capacity) considering the Invoiced over 180 days 137,397,786 103,405,633
Capacity Capacity Energy Energy
Plant unit of Energy Sold Generation Sold 645,097,838 770,668,617
Location
(MwH) (MwH)
(MwH) (MwH) Average Maximum
Liquidity Risk
Patenga,
Chittagong
438,000 489,421 58.01% 93.56% 301,508 288,126 Liquidity risk is the risk that the Company will not able to meet its financial
obligations as they fall due. The Company ensures that it has sufficient cash
and cash equivalent to meet expected operational expenses, including the
Risks and Concerns
servicing of financial obligation through preparation of the cash forecast,
BPPL operates in an industry which is exposed to a number of internal and prepared based on time line of payment of the financial obligation and
external risk factors over which our company has little or no control. The accordingly arrange for sufficient fund to make the expected payment
occurrence of the risk factors as delineated hereunder can have significant with due date. Moreover, the company seeks to maintain short term line of
bearing on the operational and financial performance of the Company. credit with scheduled commercial banks to ensure payment of obligations
Therefore, it is imperative to thoroughly understand the risk profile of the in the event that there is insufficient cash to make the required payment. In
company along with management’s perception of the risks so that you are extreme stresses situations, the Company may get support from the group
aware that your company is in safe hands. in the form of inter-company loan.
Financial Risk Management
Company’s financial risk management is governed by Accounting Policies Market Risk
as approved by the Board of Directors. Company’s principal financial assets Market risk is the risk that any change in market conditions, such as interest
include trade and other receivables, cash and short term deposits that arise rates that will affect the company’s income or the value of its holdings of
directly from its operations. Company’s financial liabilities mainly include financial instruments. The objective of market risk management is to
trade and other payables, finance lease obligation, loans and borrowings. manage and control market risk exposures within acceptable parameters,
The Company is exposed to credit risk, liquidity risk and market risk in while optimizing the return.
relation to its financial instruments.

a) Currency Risk : there from has been adequately disclosed;
Your Company is exposed to currency risk as it imports HFO and spare v. The system of internal control is sound in design and has been effectively
parts as raw materials against payment of international currencies (USD implemented and monitored;
and EURO). Currency fluctuations may increase import cost which affects vi. There are no significant doubts upon the company’s ability to continue as
adversely on the profit of the company. The management of your company a going concern;
is fully aware of the risks associated with currency fluctuations. The
management continuously monitors the procurement policy and takes Dividend
effective and corrective measures to avoid currency risks. Major imported
machinery and equipment purchased from abroad has been settled. Your Board has recommended 05% final stock dividend in addition 10% interim
Therefore, You company’s management believes that currency risk is not cash dividend (which has already been paid) for the year ended June 30, 2016
going to hamper business of the Company. subject to be approved by the shareholders at its 6th Annual General Meeting.
b) Interest Rate Risk : Directors’ appointment & re-appointment
Interest rate risk refers to the likely changes in the cash flows or future
value of a firm because of changes in the interest rates in the market. As per Article No. 129 of the Articles of Association of the company following
Increase in the interest rate burdens the company with additional financial Directors shall retire in the 6th Annual General Meeting by rotation and being
charges and squeezes the profit of the company. The Management of eligible, offer them for re-election:
the company is well aware of the volatility in the money market of our 01. Mr. Monzur Kadir Shafi
company. We monitor interest rates regularly and borrow money from the 02. Mr. Shirajul Islam Chowdhury
Bank/NBFI for the long term when interest rates are low. The Company
has not entered into any type of derivative instrument in order to hedge Auditors
interest rate risk as at the reporting date.
M/S Malek Siddiqui Wali Chartered Accountants, 9-G, Motijheel Com. Area (2nd
Capital Risk Management Floor), Dhaka-1000 was appointed as the auditor of the company to carry out
Capital risk refers to a investor faces that he or she may lose all or part of the the audit for the year 2015-2016. They have carried out the audit for the year
principal amount invested. Dear Shareholders, it is for your kind information that 2015-2016 and will retire in the 6th AGM and being eligible for re-appointment
your management have keen eyes to protect investor’s interest and to maximize they expressed their intention for re-appointment for the year 2016-2017. The
the company’s wealth day by day. All major investments and operational Board has recommended M/S Malek Siddiqui Wali Chartered Accountants
decisions are taken by the approval of Board members by considering related to appoint as Auditor for the year 2016-2017 which will be placed before the
risks. Your management has also taken a decision to declare proposed dividend shareholders at 6th AGM for approval.
(subject to the approval of respective shareholders) for the first time of the
company’s history. Acknowledgement
Operational Risk Management Finally, the Board of Directors would like to place on record its deep gratitude
Operational risk refers as the risk of loss resulting from inadequate or failed to the humble shareholders for their kind co-operation and support towards the
internal processes, people, and systems or from external events. Limitations business of the company.
of technology used, fuel supply agreement, operational & maintenance The Board would like to express their grateful appreciation for the assistance
arrangement, political or force majeure in the form of natural disasters like and co-operation received from Bangladesh Power Development Board (BPDB),
cyclone, tsunami , earthquake may hamper normal electricity generation of Power Cell of the Power Division, MPEMR, Banks & Financial Institutions,
the power plant. The management of your company believes that prudent Insurance Companies, Service Providers, the Bangladesh Securities &
rehabilitation schemes and quality maintenance will lessen the damages caused Exchange Commission (BSEC), Registrar of Joint Stock Companies & Firms,
by such natural disasters. Most importantly , all the above risks are covered various Government Authorities, Individual and Agencies.
under the insurance agreement with Pioneer Insurance Company Limited, City
The Board of Directors would like to put on record its deep appreciation of the
General Insurance Company Limited, Bangladesh General Insurance Company
efforts made by the employees of the company. Their commitment and passion,
Limited and Janata insurance Company Limited to compensate all operational
both individually and through teamwork have help the company to achieve the
risk and damages caused in such situations.
success that it is today.
Directors Responsibility to Shareholders
In line with the applicable laws in Bangladesh, the Directors confirms, to the We look forward to even better days ahead.
best of their knowledge that- On behalf of the Board of Directors
i. The financial statements prepared by the management of the company
present fairly its state of affairs, the result of its operations, cash flows and
changes in equity;
ii. Proper books of account of the company have been maintained;
iii. Appropriate accounting policies have been consistently applied in
preparation of the financial statements and that the accounting estimates Gulam Rabbani Chowdhury
are based on reasonable and prudent judgment; Managing Director
iv. International Accounting Standards, as applicable in Bangladesh, have
been followed in preparation of the financial statements and any departure

AUDITORS’ REPORT
To t he sha r e hol de rs o f B a r a ka Paten g a P ow e r L i m i ted
We have audited the accompanying Financial Statement of Baraka Patenga Power Limited, which comprise the Statement of
Financial Position as at June 30, 2016 and the Statement of profit or loss and other comprehensive income, Statement of changes
in equity and statements of cash flows for the year/period then ended and a summary of significant accounting policies and other
explanatory notes.
Management’s Responsibility for the Financial Statements:

The Management is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh
Accounting Standards (BAS)/ Bangladesh Financial Reporting Standard (BFRS), the Companies Act 1994 and other applicable laws
and regulations and for such internal control as management determines, which is necessary to enable the preparation of these
financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance
with Bangladesh Standards on Auditing (BSA). Those standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about where the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amount and disclosures in the financial statements.
The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error. In making those risk assessments the auditor considers internal control relevant
to the entities’ preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entities’ internal control. An audit
also includes evaluation the appropriateness of accounting policies used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements prepare in accordance with Bangladesh Accounting Standards (BAS)/ Bangladesh Financial
Reporting Standard (BFRS), give a true and fair view of the state of the company’s affairs as of June 30, 2016 and of the results of
its operation and its cash flows for the period then ended and comply with the Companies Act 1994, the Securities and Exchanges
Rules 1987 and other applicable laws and regulations.
We also report that:
a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit and made due verification thereof;
b) In our opinion, proper books of account as required by law have been kept by the companies so far as it appeared from our
examination of those books;
c) The Company’s Statement of Financial Position and Statement of comprehensive income dealt with by the report are in
agreement with the books of accounts ;
d) The expenditure incurred and payments made were for the purposes of the Companies’ business.


Baraka Patenga Power Limited
Statement of Financial Position
As at J u n e 30, 2 01 6

Particulars Notes
ASSETS
Non-Current Assets
Property, Plant & Equipment 04 3,954,491,677 4,094,964,784
Capital Work in Progress 05 33,208,342 17,196,630
Investment in Associate 06 960,000 510,000
Total Non-Current Assets 3,988,660,019 4,112,671,414
Current Assets
Inventories 07 484,316,800 581,914,882
Advances, Deposits & Pre-payments 08 24,802,370 15,091,604
Accounts Receivables 09 645,097,838 770,668,617
Other Receivables 10 16,000 27,177,619
Cash & Cash Equivalents 11 59,410,835 38,325,372
Holding Company Balance 19 20,097,645 -
Total Current Assets 1,233,741,488 1,433,178,094
TOTAL ASSETS 5,222,401,507 5,545,849,508
Shareholders’ Equity
Share Capital 12 945,000,000 945,000,000
Retained Earnings 536,618,278 344,628,900
Total Shareholders’ Equity 1,481,618,278 1,289,628,900
Non-Current Liabilities
Term Loan: Non-current maturity 13 2,895,449,376 2,927,011,040
Finance Lease Liability: Non-current maturity 14 1,918,097 4,848,327
Total Non-Current Liabilities 2,897,367,473 2,931,859,367
Current Liabilities
Term Loan: Current maturity 13 346,050,637 282,175,613
Finance Lease Liability: Current maturity 14 2,928,519 2,554,234
Short Term Liabilities 15 484,716,916 927,876,498
Provision for Income Tax 16 4,169,433 2,250,179
Liabilities for Expenses 17 440,684 4,381,494
Accounts Payables 18 5,109,567 5,531,785
Holding Company Balance 19 - 99,591,438
Total Current Liabilities 843,415,756 1,324,361,241
TOTAL EQUITY & LIABILITIES 5,222,401,507 5,545,849,508

Signed in terms of our report of even date annexed.

Statement of Profit or Loss and Other Comprehensive Income

Particulars Notes June 30, 2016 June 30,2015
Revenue 20 2,119,185,034 3,021,633,767

Cost of Sales 21 (1,483,501,406) (2,429,830,390)
Gross Profit 635,683,628 591,803,377
General & Administrative Expenses 22 (73,559,907) (82,620,420)
Other Income 23 4,596,307 5,731,287
Financial Expenses 24 (278,136,946) (218,898,508)
Income Tax Expenses 25 (2,093,704) (2,005,949)
Profit after Tax 286,489,378 294,009,787
Total Comprehensive Income for the year 286,489,378 294,009,787
Earnings per Share:
Basic Earnings Per Share 26 3.03 3.11
(par value of Tk. 10 each)
The Financial Statements were approved and authorized for issue by the Board of Directors on the date of October 27, 2016 and signed for and
on behalf of the board.



Statement of Changes in Equity
Amount in Taka
Particulars Share Capital Share Money Deposit Retained Earnings Total
Balance as on 01-07-2015 945,000,000 - 344,628,900 1,289,628,900

Net Profit/(Loss) during the year - - 286,489,378 286,489,378
Issue of Ordinary Share - - - -
Payment of Interim Cash Dividend @ 10% for the year - (94,500,000) (94,500,000)
Balance as on 30-06-2016 945,000,000 - 536,618,278 1,481,618,278
Amount in Taka
Particulars Share Capital Share Money Deposit Retained Earnings Total
Balance as on 01-07-2014 945,000,000 - 50,619,113 995,619,113

Net Profit/(Loss) during the year - - 294,009,787 294,009,787
Issue of Ordinary Share - - -
Balance as on 30-06-2015 945,000,000 - 344,628,900 1,289,628,900
The Financial Statements were approved and authorized for issue by the Board of Directors on the date of October 27, 2016 and signed for and
on behalf of the board.


Statement of Cash Flows

Particulars June 30, 2016 June 30,2015

Cash Receipts from Customer & others 2,246,965,421 3,060,775,086
Cash Paid to Suppliers (1,283,287,656) (2,485,185,419)
Cash Paid to others (44,425,885) (51,462,813)
Cash Generated from operating Activities 919,251,880 524,126,854
Income Tax Paid (353,641) (2,229,044)
Acquisition of PPE (21,823,217) (420,647,650)
Disposal of Assets 850,000 -
Investment in Associate (450,000) (510,000)
Short Term Loan to Related Party 27,177,619 (27,177,619)
Net Cash Used in Investing Activities 5,754,402 (448,335,269)

Term Loan (7,125,194) 415,804,325
Short term loan (443,159,582) (242,628,280)
Lease Finance (2,555,945) (2,003,353)
Transaction with Baraka Power (117,528,065) (15,166,516)
Dividend Paid (94,500,000) -
Net Cash Generated from Financing Activities (664,868,786) 156,006,176
Net Cash Inflow/(Outflow) for the period 21,085,463 15,444,527
Opening Cash & Cash Equivalents 38,325,372 22,880,845
The above balance consists of the followings:
Cash in hand 3,191,896 757,921
Cash at bank 3,664,939 13,334,451
FDR 52,554,000 24,233,000
Total 59,410,835 38,325,372


Strategic Partnership with UCEP
Mr. Faisal Ahmed Chowdhury, Chairman of Baraka Power signed strategic partnership agreement with UCEP
Bangladesh on October 20, 2016. Among others, Engr. Md. Ahsanul Kabir, Vice Chairman – Baraka Power
& Mr. Shirajul Islam Chowdhury, Director – Baraka Patenga Power were also attended the ceremony. The
purpose of the agreement is to provide support to the under privileged children.
Events
5th Power & Energy Camp - 2016

Mr. Gulam Rabbani Chowdhury, Managing Director of Baraka Power is
delivering speech as Chief Guest on the 5th Power & Energy Camp – 2016
organized by Bangladesh Scouts, Sylhet.

Annual Sports & Cultural Program-2015
Baraka Power Family celebrated Annual Sports and Cultural Program – 2015 for getting warm
interaction among its members.
Events
CSR ACtivites
As a part of Corporate Social Responsibility, Mr. Faisal Ahmed
Chowdhury, Chairman-Baraka Power is handing over a cheque to
Kashem Ali Model High School, Fenchuganj, Sylhet as Donation to
Infrastructure Development of the School in presence of Mr. Gulam
Rabbani Chowdhury, Managing Director & others.
Mr. Gulam Rabbani Chowdhury, Managing Director is handing

over a cheque to Liza Moni as donation for admission fee of Dhaka
University in presence of Engr. Md. Ahsanul Kabir, Vice Chairman
& Mr. Fahim Ahmed Chowdhury, Deputy Managing Director of
Baraka Power & others.
Engr. Md. Ahsanul Kabir, Vice Chairman
& Mr. Fahim Ahmed Chowdhury, Deputy
Managing Director of Baraka Power are
handing over warm cloths to mass in
presence of others.
Mr. Fahim Ahmed Chowdhury, Deputy

Managing Director of Baraka Power is
handing over a cheque as donation to
Anthropology Department of Shahjalal
University of Science & Technology, Sylhet
(SUST) in the occasion of International
Conference on “Critical Engagement
in Anthropological Landscape in
Bangladesh”.
Mr. Fahim Ahmed Chowdhury, Deputy

Managing Director-Baraka Power is
handing over a cheque to Zimkhana Sports
Club, Sylhet as Donation in presence of
others.

NOTICE OF THE 9th ANNUAL GENERAL MEETING
Notice is hereby given that the 9th Annual General Meeting of the Shareholders of Baraka Power Limited will be held on the 22nd day of
December 2016 at Rose View Hotel, Shahjalal Uposhahar, Sylhet-3100 at 12.00 P.M.to transact the following business:
Agenda:
1. To receive, consider and adopt the Directors’ Report and the Audited Financial Statements for the year ended June 30, 2016
together with the Auditors’ Report thereon.
2. To declare dividend for the year ended 30 June 2016 as recommended by the Board of Directors.
3. To elect Directors in place of those retiring under Article No. 112 of the Articles of Association of the Company.
4. To appoint auditors for the year ended June 30, 2017 and to fix up their remuneration.
By order of the Board
Dated, Dhaka Mohammed Monirul Islam

December 07, 2016 Company Secretary
Notes:
1. The record date of the company was 17th day of November 2016 for closing of share transfer book. Members whose name was
appear in the members Register on that date will be eligible to attend and vote in the Annual General Meeting.
2. The Board of Directors have recommended dividend as follows:
a. Cash Dividend : @ 15%
b. Stock Dividend : @ 05%
3. Members entitled to attend and vote at the Annual General Meeting may appoint a Proxy to attend and Vote on his/her behalf.
The Proxy Form must be affixed with requisite revenue stamp and must be submitted to the Registered Office of the company
not less than 48 hours before the time fixed for the Annual General Meeting.
4. Admission into the meeting venue will be allowed on production of the Attendance Slip attached with the Proxy.
Special Note :
No benefit or gift in cash or kind shall be given to the shareholders for attending the 9th Annual General Meeting as per Bangladesh Secu-
rities and Exchange Commission’s Circular No. SEC/CMRRCD/2009-193/154 dated October 24, 2013.
m¤§vwbZ †kqvi‡nvìvi‡ì m`q AeMwZi Rb¨ Rvbv‡bv hv‡”Q †h, Avmbœ evwl©K mvaviY mfvq †Kvb cÖKvi Dcnvi/Kycb cÖ`v‡bi eë¯’v _vK‡e bv|
Registered Office: 102 Azadi, Mirboxtola, Sylhet-3100
Corporate Office: 6/A/1 (1st & 2nd floor), Segunbagicha, Dhaka-1000
Proxy Form
I/We ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... of ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... being a member of Baraka Power Limited hereby appoint
Mr./MS ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...... ... ... ... ... .
of ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... as my proxy to attend and vote for me on my behalf at the 9th Annual General Meeting of the
company to be held on Thursday, the 22nd day of December 2016 at Rose View Hotel, Shahjalal Uposhahar, Sylhet-3100 at 12.00 P.M. and at
any adjournment thereof.
As witness my hand this ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... day of ... ... ... ... ... ... ... 2016 signed by the said in presence of... ... ... ... ... ... ... ... ... ... ... ...
... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenue
....................................................................... Stamp
(Signature of the Proxy)
Date ............................................................. Tk. 20.00
......................................................................................................................................................
........................................................................................ Signature of the Shareholder(s)
(Signature of witness) Register BO ID.........................................................................................................................
Dated ........................................................................................................................................
NOTE : A member entitled to attend and vote at the Annual General Meeting may appoint at Proxy to attend and vote in his/her stead. The Proxy
Form, duly stamped, must be deposited at the Registered Office/Corporate Office of the company not later than 48 hours before the time
appointed for the meeting.
Signature verified
........................................................................................
Authorized Signatory

Registered Office: 102 Azadi, Mirboxtola, Sylhet-3100
Corporate Office: 6/A/1 (1st & 2nd floor), Segunbagicha, Dhaka-1000
Shareholders’ Attendance Slip

I/We herby record my attendance at the 9th Annual General Meeting being held on Thursday, the 22nd day of December 2016 at Rose View Hotel,
Shahjalal Uposhahar, Sylhet-3100 at 12.00 P.M.
Name of Member/Proxy ... ... ... ... ... ... ... ...... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Register BO ID .. ... ... ... ... ... .... ... ... ... ... ... ... ... ... ... .. ... ... .. ... ... .. ... ...... ... ... ... ... ... ... holding of ... ... ... ... ... ... ... ... ordinary Shares of Baraka Power Limited.
........................................................................................
Signature of Shareholder(s)
N. B. 1. Please note that AGM can only be attended by the honorable shareholder or properly constituted proxy. Therefore, any friend or children
accompanying with honorable shareholder or proxy cannot be allowed into the meeting.
2. Please present this slip at the reception desk.
No gift, food and conveyance shall be given for attending the 9th Annual General Meeting of the Company as per rules.
www.barakapower.com
a McCoy Multi Media production : 9671014 email: mccoygdp@gmail.com
Scan code with a QR code Dhaka Office

reader-enable mobile phone 6/A/1 (1st & 2nd Floor), Segunbagicha
to find out more about the Dhaka 1000, Bangladesh
company Phone : +880 2 9572305, 9560339
Fax : +880 2 9559015
email : info@barakapower.com
Sylhet Office
Khairun Bhaban (6th Floor)
Mirboxtola, Sylhet 3100, Bangladesh
Phone : +880 821 711815
Fax : +880 821 722089
email : info@barakapower.com

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Nation’s dream,

Achieved Highest Credit Rating in Power Sector

Annual Report 2015-16 1

Annual Report 2015-16 3

Annual Report 2015-16 5

2014 Achieved ICMAB Best

Annual Report 2015-16 7

Annual Report 2015-16 9

Faisal Ahmed Chowdhury

Annual Report 2015-16 11

Nanu Kazi Mohammed Miah Dr. Tofayel Ahmed Ph. D

Annual Report 2015-16 13

Gulam Rabbani Chowdhury

Annual Report 2015-16 15

...we are seeking to diversify our business

Faisal Ahmed Chowdhury

Annual Report 2015-16 17

... another successful year with

Annual Report 2015-16 19

a. Fahim Ahmed Chowdhury

Annual Report 2015-16 21

Annual Report 2015-16 23

For the year ended June 30, 2016 Corporate Governance

Corporate Social Responsibility

Additional Directors’ Responsibilities towards Shareholders

Annual Report 2015-16 25

Licensed Installed Plant Factor (% on Licensed capacity Energy

(iii) Risks and concerns

Annual Report 2015-16 27

Annual Report 2015-16 29

Profit after tax 331,664,596 266,056,013

Board Meeting & Attendance:

Directors’ appointment & re-appointment:

Annual Report 2015-16 31

Gulam Rabbani Chowdhury

Annual Report 2015-16 33

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Annual Report 2015-16 35

(L) Other Related Party Transactions

Transactions during the year Receivables/(Payables)

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Annual Report 2015-16 37

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Annual Report 2015-16 39

Condition No. Title Complied Not Complied Remarks (If any)

Annual Report 2015-16 41

Condition No. Title Complied Not Complied Remarks (If any)

Annual Report 2015-16 43

Condition No. Title Complied Not Complied Remarks (If any)

Number of meetings held whilst

Mr. Faisal Ahmed Chowdhury 8 7

Annual Report 2015-16 45

The pattern of Shareholding as on June 30, 2016

Sl No. of Shares Percentage (%) of

a) Parents/ Subsidiary/ Associate Companies

Particulars June 30,2016 30-Jun-15 30-Jun-14 30-Jun-13 30-Jun-12

Annual Report 2015-16 47

Audit Committee, includes a) Role of the Board and its composition

Annual Report 2015-16 49

Committee’s Composition and Meeting

Major Responsibilities of the Audit Committee

Major Activities of the Audit Committee