Annual Report 2017 of National Tea Company Limited

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2| 2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ wbixwÿZ wnmve Ges G m¤ú‡K© cwiPvjKgÛjx I wbixÿK‡ì
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wefv‡M Rgv w`‡Z n‡e|
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Z_¨vw` I Qwe
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Z_¨vw` I Qwe
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15
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17
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19
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Kiv n‡q‡Q| AvMvgx‡Z ¯^í mg‡qi g‡a¨ †Kv¤úvbxi Drcv`b AviI e„w×mn Pv‡qi ¸YMZ gv‡biI Dbœqb Kiv m¤¢e n‡e e‡j Avkv
Kiv hvq | D‡jøL¨ †h, †Kv¤úvbxi me© †ÿ‡ÎB ¯^”QZv, Revew`wnZv Ges ï×vPvi cÖwZôvi j‡ÿ¨ †evW© KZ…©K me©vZ¥K cÖ‡Póv Ae¨vnZ
i‡q‡Q| Avgvi `„p wek¦vm - G cÖ‡Póvi d‡j †Kv¤úvbxi gybvdvI µgvš^‡q e„w× cv‡e|
Avcbv‡ì‡K AviI Rvbvw”Q †h, M„nxZ Dbœqb Kvh©µ‡g cyivZb Pviv DrcvUb K‡i bZzb Rv‡Zi Pviv †ivcY I Pv Pvlvev` GjvKv e„w×
Kivi d‡j †Kv¤úvbxi Drcv`b I ¸YMZ gvb µgvš^‡q e„w× cv‡”Q| 2016 mv‡ji R~jvB †_‡K 2017 mv‡ji Ryb ch©šÍ †Kv¤úvbxi
me©‡gvU Drcv`b n‡q‡Q 57 jÿ 72 nvRvi 687 †KwR| D‡jøL¨ †h, c~e©eZx© eQi¸‡jvi Zzjbvq Drcv`b µgvš^‡q e„w× cv‡”Q|
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ cÖwZ †KwR Pv‡qi Mo weµq g~j¨ `vuovq 166.15 UvKv hvÕ 2015 mv‡ji RyjvB
†_‡K 2017 mv‡ji Ryb ch©šÍ cÖwZ †KwR Pv‡qi Mo weµq g~j¨ wQj 179.37 UvKv| ¸YMZ gvb e„w× †c‡jI bxjvg evRv‡i mieivn
†ekx _vKvq Avkvbyiƒc weµq g~j¨ cvIqv hvqwb| 2015 mv‡ji R~jvB †_‡K 2016 mv‡ji Ryb ch©šÍ †Kv¤úvbxi evMvb mg~‡n me©‡gvU
239.33 †n±i Rwg‡Z Ges 2016 mv‡ji R~jvB †_‡K 2017 mv‡ji Ryb ch©šÍ 239.05 †n±i Rwg‡Z bZzb Pv MvQ †ivcY Kiv
n‡q‡Q|
20
mswkøó wnmvee‡l©i cÖ_gv‡a© AvenvIqv Pv Drcv`‡bi AbyK~‡j _vK‡jI wØZxqv‡a© AwZe„wó I †cvKvgvK‡oi cÖfve AZ¨šÍ †ewk _vKvq
Drcv`b fxlYfv‡e e¨vnZ nq| GZ`&m‡Ë¡I mKj gn‡ji mvwe©K cÖ‡Póvq h_vh_ eë¯’v MÖnY, †Kv¤úvbxi hveZxq µq cÖwµqvi
AvaywbKvqb Kivi d‡j c×wZMZ Dbœqb I ¸YMZgvb wbwðZmn e¨q n«vm Kiv m¤¢e n‡”Q|
Drcv`b e„w× I Pv‡qi ¸YMZ gvb Dbœq‡bi gva¨‡g Avgiv wewfbœ evav¸‡jv AwZµg Ki‡Z mÿg n‡qwQ| 2016 mv‡ji R~jvB †_‡K
2017 mv‡ji Ryb ch©šÍ wewfbœ cÖwZK~jZv m‡Ë¡I †Kv¤úvbx 7 †KvwU 94 jÿ 4 nvRvi 894 UvKv bxU gybvdv AR©b K‡i cÖwZ †kqv‡i
12.03 UvKv EPS jv‡f mg_© nq| cÖwZ †kqv‡i Net operating cash flow 4.79 UvKv Ges Net Asset Value per share `vuovq
142.99 UvKv|
m¤§vwbZ †kqvi‡nvìvie„‡›ì wewb‡qvM wbivc` ivLv Ges AwaKZi gybvdv AR©‡bi j‡ÿ¨ cÖ‡qvRbxq eë¯’v MÖn‡Yi Rb¨ cwiPvjbv
cl©‡ì me©vZ¥K cÖ‡Póv Ae¨vnZ i‡q‡Q| †Kv¤úvbxi mvwe©K Kg©Kv‡Û AviI MwZkxjZv e„w×i Rb¨ mswkøó Kg©KZ©viv wbqwgZ evMvb
cwi`k©b Ki‡Qb| D‡jøL¨, GLb †_‡K cÖwZ ermi cwiPvjbv cl©‡ì Kgc‡ÿ 3(wZb)wU mfv †Kv¤úvbx evs‡jv‡Z AbywôZ n‡e Ges
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Avjøvn nv‡dR|
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†Pqvig¨vb
21
22
cwiPvjKgÐjxi cÖwZ‡e`b
wem&wgjøvwni ivn&gvwbi ivnxg
m¤§vwbZ †kqvi‡nvìvi I Dcw¯’Z myaxgÐjx,
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2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ †Kv¤úvbxi wnmve weeiYx, wbixÿK‡ì cÖwZ‡e`b Ges mvwe©K Kvh©µ‡gi Dci cwiPvjKgÐjxi
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Mwe©Z| mswkøó wnmvee‡l©i wewfbœ welqvw` Avcbv‡ì m`q AeMwZi Rb¨ wb‡¤œv³fv‡e Dc¯’vcb Kiv n‡jvt
Pv Drcv`b
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nq| d‡j 2016-2017 wnmvee‡l© †Kv¤úvbxi evMvbmg~n me©‡gvU 57 jÿ 72 nvRvi 687 †KwR Pv Drcv`b Ki‡Z mÿg nq hvÕ 2015-2016
mv‡ji 59 jÿ 19 nvRvi 337 †KwRi Zzjbvq 2.48 kZvsk Kg| D‡jøL¨ †h, GKB mg‡q RvZxq Mo Drcv`‡bi cÖe„w× wQj 6.55 kZvsk|
†Kv¤úvbxi weMZ eQi¸‡jvi Drcv`‡bi weeiYx wb‡¤œ cÖ`vb Kiv n‡jvt
ermi Pv‡qi Drcv`b (†KwR‡Z) cÖe„w×i nvi (kZvs‡k) *RvZxq Drcv`b (†KwR‡Z)
2013 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 49,28,447 8.40 6,63,00,000
2014 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 48,19,700 ( 2.21) 6,45,00,000
2015 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 52,24,710 8.40 6,73,80,000
2016 mv‡ji Rvbyqvix †_‡K Ryb ch©šÍ 20,63,906 50.73 2,53,80,000
2015 mv‡ji RyjvB †_‡K 2016 mv‡ji Ryb ch©šÍ 59,19,337 - 7,66,35,000
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ 57,72,687 (2.48) 8,16,45,000
*m~Î:- evsjv‡`k Pv †evW©|
Drcv`b e¨q
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†eZb-fvZv e„w×i d‡j 2016-2017 wnmvee‡l© D³ wbqš¿Y ewnf~©Z LvZ¸‡jv‡Z e¨q e„w× †c‡q‡Q cÖvq 4.00 †KvwU UvKv| GZ`&m‡Ë¡I †Kv¤úvbxi
cwiPvjKgÐjxi m`q civgk© I mwVK w`K&-wb‡`©kbv Ges eë¯’vcbvi mg‡qvwPZ c`‡ÿc MÖn‡Yi d‡j 2016-2017 wnmvee‡l© †Kv¤úvbxi cÖwZ
†KwR Pv‡qi Mo Drcv`b e¨q ùvovq 151.51 UvKv hvÕ 2015-2016 wnmvee‡l©i GKB mg‡q wQj 149.46 UvKv| weMZ eQi¸‡jvi Drcv`b
e¨‡qi weeiYx wb‡¤œ cÖ`vb Kiv n‡jvt
ermi Pv‡qi Drcv`b (†KwR‡Z) cÖwZ †KwR Pv‡qi Drcv`b e¨q (UvKvq) cÖe„w×i nvi (kZvs‡k)
2013 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 49,28,447 153.49 5.49
2016 mv‡ji Rvbyqvix †_‡K Ryb ch©šÍ 20,63,906 205.82 (22.61)
2015 mv‡ji RyjvB †_‡K 2016 mv‡ji Ryb ch©šÍ 59,19,337 149.46 -
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ 57,72,687 151.51 1.37
23
Pv weµq
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ cÖwZ †KwR Pv‡qi Mo weµq g~j¨ ùvovq 166.15 UvKv hvÕ 2015 mv‡ji RyjvB †_‡K 2016
mv‡ji Ryb ch©šÍ wQj 179.37 UvKv| A_©vr 2016-2017 wnmvee‡l©i Mo weµq g~j¨ 2015-2016 wnmvee‡l©i Zzjbvq cÖwZ †KwR‡Z 13.22
UvKv n«vm †c‡q‡Q| D‡jøL¨ †h, 2016-2017 wnmvee‡l© (wbjvg m~Px Abyhvqx) RvZxq Mo weµq g~j¨ wQj 191.01 UvKv hvÕ 2015-2016
wnmvee‡l© (wbjvg m~Px Abyhvqx) wQj 187.23 UvKv| weMZ eQi¸‡jvi weµq g~‡jï weeiYx wb‡¤œ E×…Z Kiv n‡jvt
ermi cÖwZ †KwR Pv‡qi weµq g~j¨ (UvKvq) cÖe„w×i nvi (kZvs‡k)
2013 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 168.57 ( 18.87)
2014 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 161.14 ( 4.41)
2015 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 180.57 12.06
2016 mv‡ji Rvbyqvix †_‡K Ryb ch©šÍ 201.56 3.34
2015 mv‡ji RyjvB †_‡K 2016 mv‡ji Ryb ch©šÍ 179.37 0
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ 166.15 (7.37)
¯’vbxq evRv‡i Pv weµq

¯’vbxq ch©v‡q Pv‡qi evRvi m¤úªmvi‡Yi D‡`¨vM MÖn‡Yi d‡j †Kv¤úvbxi wecYb †K‡›`ªi gva¨‡g Pv weµ‡qi cwigvY µgvMZfv‡e e„w× cv‡”Q|
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ ¯’vbxq evRv‡i Pv weµ‡qi cwigvY wQj me©‡gvU 4,49,540 †KwR hvÕ 2015 mv‡ji RyjvB
†_‡K 2016 mv‡ji Ryb ch©šÍ weµxZ 4,35,370 †KwRi Zzjbvq 3.25 kZvsk †ewk| weµq e„w×i j‡ÿ¨ †gMvkç‡jv‡Z Pv mieivnmn
B‡Zvg‡a¨ wewfbœ ¯’v‡b weµq †K›`ª ¯’vcb, wWjvi wb‡qvM, ¯^cœ †gMvk‡c Pv mieivnmn weµq e„w×i wewfbœ c`‡ÿc MÖnY Kiv n‡q‡Q| hvi d‡j
Õb¨vkbvj wUÕ Gi Pvwn`v ¯’vbxq evRv‡i µgkt e„w× cv‡”Q| weµq AviI e„w×i j‡ÿ¨ ¯’vbxq evRv‡i Pv wecYb Gi Dci GKwU cwiKíbv MÖnY
Kiv n‡q‡Q| D³ cwiKíbvi AvIZvq cY¨ ‰ewPÎKiYmn ¯’vbxq evRv‡i Pv weµq e„w×i h_vh_ c`‡ÿc MÖÖnY Kiv n‡e| ¯’vbxq evRv‡i weMZ
eQi¸‡jvi Pv weµ‡qi cwigvY wb¤œiƒct
ermi wewµZ Pv‡qi cwigvY (†KwR‡Z) gybvdv (UvKvq) cÖe„w×i nvi (kZvs‡k)
2013 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 2,61,050 50,56,101 ( 10.14)
2014 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 3,15,910 39,77,778 21.02
2015 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 3,71,305 15,99,475 17.54
2016 mv‡ji Rvbyqvix †_‡K Ryb ch©šÍ 2,18,985 6,71,891 41.35
2015 mv‡ji RyjvB †_‡K 2016 mv‡ji Ryb ch©šÍ 4,35,370 14,65,669 0
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ 4,49,540 61,70,851 3.25
AwR©Z gybvdv
2016-2017 wnmvee‡l© †Kv¤úvbx 8,07,32,307 UvKv Kic~e© gybvdv AR©b Ki‡Z mÿg nq| Ki cieZx© bxU gybvdvi cwigvY ùvovq 7,94,04,894
UvKv Ges Earning Per Share 12.03 UvKv| cÿvšÍ‡i 2015-2016 wnmvee‡l© †Kv¤úvbx 13,63,70,907 UvKv Kic~e© gybvdv AR©b Ki‡Z mÿg
nq| weMZ eQi¸‡jvi Kic~e© gybvdv, Ki cieZx© bxU gybvdv Ges Earning Per Share-Gi weeiY wb‡¤œv³fv‡e cÖ`vb Kiv n‡jvt
ermi Kic~e© gybvdv (UvKvq) Ki cieZx© bxU gybvdv (UvKvq) Earning Per Share (UvKvq)
2013 mv‡ji Rvbyqvix †_‡K wW‡m¤î ch©šÍ 17,36,75,106 16,14,21,623 24.46
2016 mv‡ji Rvbyqvix †_‡K Ryb ch©šÍ 46,68,862 15,41,249 0.23
2015 mv‡ji RyjvB †_‡K 2016 mv‡ji Ryb ch©šÍ 13,63,70,907 13,24,67,606 20.07
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ 8,07,32,307 7,94,04,894 12.03
24
†Kv¤úvbx KZ…©K M„nxZ wewfbœ Dbœqb Kvh©µg
evMvb m¤úªmviY
2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ †Kv¤úvbxi evMvb mg~‡n me©‡gvU 239.05 †n±i Rwg‡Z bZzb Pv MvQ Ges cwi‡e‡ki fvimvg¨
iÿvi Rb¨ 1,08,000wU wewfbœ cÖRvwZi g~jëvb e„‡ÿi Pviv †ivcY Kiv n‡q‡Q| ZvÕQvov c~‡e© †ivcYK…Z Pviv¸‡jvI mwVKfv‡e iÿYv‡eÿY Kiv
nq| D‡jøL¨ †h, 2015-2016 wnmvee‡l©i GKB mg‡q 239.33 †n±i Rwg Pv Pv‡li AvIZvq Avbv nq|
evMvb m¤úªmviY cwiKíbv

2017-18 wnmvee‡l© †Kv¤úvbxi evMvb mg~‡n 175.81 †n±i Rwgi AwZ cyivZb I Kg Drcv`bkxj Pv MvQ DrcvUbc~e©K cybt‡ivcY, 24.00
†n±i Rwg‡Z eøK Bbwdwjs Ges 80.19 †n±i Rwg‡Z Pv m¤úªmvi‡Yi cwiKíbv i‡q‡Q| G QvovI 2,53,000wU wewfbœ cÖRvwZi g~jëvb e„‡ÿi
Pviv †ivc‡Yi cwiKíbv cÖYqb Kiv n‡q‡Q|
KviLvbv I hš¿cvwZ
2016-2017 wnmvee‡l© †Kv¤úvbxi evMvb¸‡jv‡Z bZzb †Kvb hš¿cvwZ ms‡hvRb Kiv nqwb| Z‡e AvMvgx w`b¸‡jv‡Z †Kv¤úvbxi evMvb¸‡jv‡K
AvaywbKvq‡bi gva¨‡g g‡Wj evMv‡b iƒcvšÍi Kivi cwiKíbv MÖnY Kiv n‡q‡Q Ges Zvi Ask wn‡m‡e cÖv_wgKfv‡e wZbwU evMvb h_vµ‡gt
cvÎ‡Lvjv, PwÛQov I jv°vZzov Pv evMvb‡K wbe©vPb Kiv n‡q‡Q| †evW© KZ©„K M„nxZ wm×všÍ Abymv‡i wbe©vwPZ wZbwUmn Ab¨vb¨ evMv‡bi Rb¨
wewfbœ cÖKvi hš¿cvwZ ms‡hvR‡bi KvR cÖwµqvaxb i‡q‡Q| D³ Dbœqb cÖKí ev¯ÍevwqZ n‡j AvMvgx w`‡b †Kv¤cvbxi PvÕ‡qi Drcv`b I ¸YMZ
gvb e„w× cv‡e hv AwaK gybvdv AR©‡b mnvqK n‡e|
kÖwgK Kj¨vY
cÖwZ eQ‡ii b¨vq 2016-2017 wnmvee‡l©I †Kv¤úvbxi evMvb mg~‡ni 250wU KuvPv evm¯’vb‡K cvKv evm¯’v‡b iƒcvšÍi Kiv n‡q‡Q| G cwiKíbv
m¤ú~Y©iƒ‡c ev¯ÍevwqZ nÕ‡j evm¯’vb †givgZ Lv‡Z e¨q mvkªqmn kÖwgK evm¯’v‡bi myeë¯’vI wbwðZ n‡e| evMv‡bi kÖwgK I Kg©Pvix‡ì
my¯^v¯’¨ wbwðZ Kivi j‡ÿ¨ mswkøó eQ‡i weï× cvwb mieiv‡ni eë¯’v I iÿYv‡eÿY, cÖ‡qvRbxq msL¨K Mfxi I n¯ÍPvwjZ bjK~c ¯’vcb Ges
cqtcÖYvjx eë¯’vi DbœwZ mn wewfbœ Kvh©Ki c`‡ÿc MÖnY Kiv n‡q‡Q| ÔKg©`ÿZv my¯^v‡¯’ï DciB eûjvs‡k wbf©ikxjÕ weavq kÖwgK-Kg©Pvix‡ì
¯^v¯’¨ I Kj¨vYg~jK Kvh©vwì Dci †Kv¤úvbx me©`v ¸iæZ¡ w`‡q Avm&‡Q| cÖwZ‡e`bvaxb wnmvee‡l© †Kv¤úvbxi Pv evMvb mg~‡n eë¯’vcbv-kÖwgK
m¤úK© wQj AZ¨šÍ †mŠnv`©¨c~Y© I AvšÍwiK| Avkv Kiv hv‡”Q †h, fwel¨‡ZI ZvÕ Ae¨vnZ _vK‡e|
Ab¨vb¨ Dbœqb Kvh©µg

Av‡jvP¨ eQ‡i Pv Pvlvev` GjvKvq wbweo Z`viKx eë¯’v AviI †Rvi`vi, meyR cvZv I Ab¨vb¨ `ªe¨vw` `ªæZ MšÍe¨¯’‡j †cŠuQv‡bvmn evMv‡bi
Af¨šÍixY †hvMv‡hvM eë¯’v Av‡iv Dbœq‡bi j‡ÿ¨ iv¯Ív-NvU mg~n †givgZ Kiv nq| AvMvgx w`‡b †Kv¤úvbxi evMvb mg~‡ni Dchy³ ¯’v‡b †mŠi
we`y¨‡Zi eënvi wbwðZ K‡i cwi‡e‡ki fvimvg¨ iÿvi Rb¨ cÖ‡qvRbxq c`‡ÿc MÖnY Kiv n‡”Q|
mvwe©K eë¯’vcbv
†Kv¤úvbxi AjvfRbK evMvb¸‡jv‡K jvfRbK ch©v‡q DbœxZ Kivi j‡ÿ¨ wewfbœ ai‡Yi c`‡ÿc MÖnY Kiv n‡”Q| cvkvcvwk †Kv¤úvbxi mKj
evMv‡bi Drcv`bkxjZv e„w×c~e©K Ae¨vnZfv‡e jvfRbK ch©v‡q DbœxZ Kivi j‡ÿ¨ cÖ‡qvRbxq mKj cÖKvi c`‡ÿc MÖnY Kiv n‡q‡Q| djkÖæwZ‡Z
fwel¨‡Z evMvb¸‡jvi gybvdv AR©‡bi mÿgZv AviI e„w× cv‡e e‡j Avkv Kiv hv‡”Q|
Af¨šÍixY wbqš¿Y eë¯’v

mswkøó wnmvee‡l© †Kv¤úvbxi Af¨šÍixY wbqš¿Y eë¯’v mymsnZ Kivmn e¨q K‡Vvifv‡e wbqš¿‡Yi j‡ÿ¨ †evW© KZ…©K wbixÿv KwgwUi Dci `vwqZ¡
Ac©Y Kiv nq| wbixÿv KwgwU Zv‡ì cÖ‡Z¨KwU mfvq e¨q wbqš¿Y wel‡q eë¯’vcbv KZ…©K MwVZ Cost Control & Cost Reduction Committee
Gi wewfbœ welqvwì Dci M„nxZ Kg©cš’v ch©v‡jvPbvc~e©K ZvÕ ev¯Íevq‡bi wbwg‡Ë cÖ‡qvRbxq mycvwikgvjv †evW© mfvq Dc¯’vcb K‡i| D³
mycvwik mg~n ev¯Íevq‡bi d‡j B‡Zvg‡a¨ e¨q wbqš¿‡Yi †ÿ‡Î D‡jøL‡hvM¨ AMÖMwZ mvwaZ n‡q‡Q| GZØ¨ZxZ eZ©gv‡b †Kv¤úvbxi hveZxq µq
cÖwµqv AvaywbKvqb Kivi d‡j c×wZMZ Dbœqb I ¸YMZgvb wbwðZmn e¨q n«vm Kiv m¤¢e n‡”Q|
SMART Project
†Kv¤úvbxi SMART Project Gi AvIZvq Drcv`b e„w× I Pv‡qi ¸YMZ gvb Dbœq‡bi gva¨‡g gybvdv e„w×i j‡ÿ¨ Pv †mKkb¸‡jv‡Z myôyfv‡e
cvwb wb®‹vkb eë¯’v I cÖ‡qvRbxq msL¨K Qvqve„ÿ †ivcY wbwðZ Kiv n‡”Q| Pv I ebvqb m¤úªmviYmn mKj ai‡Yi †ivcY Kvh© h_vmg‡q
ev¯Íevq‡bi wbwg‡Ë cÖ‡qvRbxq mKj cÖKvi bvm©vix cÖ¯‘Z Kiv n‡”Q| D³ cÖK‡íi AMÖMwZ wbqwgZfv‡e cl©` KZ…©K ch©v‡jvPbv I evMvb
25
eë¯’vcK‡ì wb‡q êVK Abyôv‡bi d‡j evMv‡bi mvwe©K Kvh©µg Z¡ivwš^Z n‡”Q| cÖKíwU ev¯Íevq‡bi d‡j †Kv¤úvbxi Pv Drcv`b D‡jøL‡hvM¨
cwigv‡Y e„w× †c‡q‡Q| G cÖKí avivevwnKfv‡e ev¯Íevq‡bi d‡j fwel¨‡Z Drcv`b Av‡iv e„w× cv‡e Ges Pv‡qi ¸YMZ gvb DbœZ nIqvmn
†Kv¤úvbxi jvf Kivi ÿgZv AviI e„w× cv‡e|
gvbe m¤ú` Dbœqb

Av‡jvP¨ wnmvee‡l© b¨vkbvj wU †Kv¤úvbx wjwg‡U‡Wi evMvb mg~‡ni mvwe©K Ae¯’v AviI DbœZ, MwZkxj Ges Drcv`b evÜe Kivi j‡ÿ¨ wewfbœ
Kg©kvjvmn Dbœqbg~jK wkÿv-m~Pxi AvIZvq †ek wKQz kÖwgK-Kg©Pvix‡K cÖwkÿY cÖ`vb Kiv n‡q‡Q| ZvÕQvov kÖwgK-Kg©Pvix‡ì `ÿZv, Kg©
ÿgZv I Drcv`bkxjZv AviI e„w×K‡í cÖ‡qvRbxq c`‡ÿc MÖnY Kiv n‡”Q| D‡jøL¨ †h, evMvb eë¯’vcbv AviI `ÿ I MwZkxj Kivi j‡ÿ¨
wewUAviAvB Ges wU †eªvKvi‡ì D‡`¨v‡M Av‡qvwRZ wewfbœ Kg©kvjvi gva¨‡g evMvb Kg©KZ©v I Kg©Pvix‡ì‡K cÖwkÿY †`qv n‡”Q|
A_© eë¯’vcbv I wnmveiÿY

mswkøó wnmvee‡l© †Kv¤úvbxi A_© I wnmve eë¯’vcbv Av‡iv ¯^”Q, Kvh©Ki Ges Z_¨mg„× Kivi j‡ÿ¨ cª‡qvRbxq wewfbœ c`‡ÿc MÖnY Kiv nq|
evsjv‡`‡k Abym„Z International Financial Reporting Standards (IFRS) I Bangladesh Financial Reporting Standards (BFRS)
Abyhvqx Avw_©K weeiYx cÖYqb I wnmvefy³ Kiv n‡q‡Q| †Kv¤úvbxi ev‡RU ch©v‡jvPbv, Af¨šÍixY wbqš¿Y cÖwµqv I iÿYv‡eÿYmn wnmv‡ei
mwVK bxwZgvjv AbymiYc~e©K Avw_©K weeiYx¸‡jv cÖ¯‘Z Kiv n‡q _v‡K| D‡jøL¨ †h, evsjv‡`k wmwKDwiwUR GÛ G·‡PÄ Kwgk‡bi K‡c©v‡iU
Mfb©¨vÝ MvBWjvBb Gi Pvwn`v †gvZv‡eK cÖ‡qvRbxq wewfbœ Z_¨vejx evwl©K cÖwZ‡e`‡b AšÍfy©³ Kiv n‡q‡Q| evMv‡bi wn‡me-wb‡Kk Av‡iv
¯^”Q I Z_¨ mg„× Kivi j‡ÿ¨ †Kv¤úvbxi cÖ‡Z¨KwU evMv‡bB Kw¤úDUvi mieivn Kiv n‡q‡Q| MYcÖRvZš¿x evsjv‡`k miKvi †NvwlZ wWwRUvj
evsjv‡`k Movi cwiKíbvi mv‡_ m½wZ †i‡L †Kv¤úvbxi mì `ßi I evMvb¸‡jv‡Z AZ¨vaywbK Software ms‡hvRb Kivi cwiKíbv MÖnY Kiv
n‡q‡Q hvi d‡j wnmve eë¯’vcbv I Z_¨ Av`vb-cÖ`v‡b AviI ¯^”QZv I Revew`wnZv wbwðZ Kiv m¤¢e n‡e|
miKvi KZ©„K wewfbœ mg‡q f‚wg AwaMÖnY

wm‡jU wefvMxq †÷wWqvg wbg©vYv‡_© jv°vZzov evMv‡bi 8.44 GKi f‚wg miKvi KZ…©K AwaMÖnY Kiv n‡q‡Q Ges D³ f~wgi cwigvY ev` w`‡q
evMvbwUi BRviv `wjj bevqb Kiv nq| 2013 mv‡j miKvi cybivq wefvMxq †÷wWqv‡gi iv¯Ív wbg©v‡Yi Rb¨ 2.44 GKi I †mfiY KZ…©K M¨vm
K‚c ¯’vc‡bi wbwgË 8.77 GKi A_©vr me©‡gvU 11.21 GKi f~wg AwaMÖnY K‡i‡Q| iv¯Ívi Rb¨ AwaMÖnYK…Z f‚wg‡Z †Kv¤úvbxi †Kvb ¯’vcbv ev
Pvlvev` bv _vKvq miKvi ÿwZc~iY cÖ`vb K‡iwb| Z‡e M¨vm K‚‡ci Rb¨ AwaMÖnYK…Z wKQz f‚wg‡Z Pv Pvlvev` _vKvq G eve` miKv‡ii mswkøó
KZ©„c‡ÿi wbKU ÿwZc~iY `vwe Kiv n‡q‡Q|
cÖwZôvb cwiPvjbv
†Kv¤úvbxi cwiPvjKe„›` AwfgZ e¨³ K‡ib †h, fwel¨r `vq-‡`bv wgwU‡q wU‡K _vKvi j‡ÿ¨ †Kv¤úvbxi ch©vß ¯’vqx I Zij m¤ú` i‡q‡Q|
Z`bymv‡i †Kv¤úvbxi evrmwiK wnmve cÖ¯‘ZKv‡j Pjgvb cÖwZôv‡bi bxwZ AbymiY Kiv n‡q‡Q|
K‡c©v‡iU Mfb©¨vÝ MvBWjvBb-Gi cwicvjb

 2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ RvZxq Drcv`b wQj 81.65 wgwjqb †KwR hvÕ 2015 mv‡ji RyjvB †_‡K 2016 mv‡ji
Ryb ch©šÍ 76.63 wgwjqb †KwRi Zzjbvq 5.02 wgwjqb †KwR ev 6.55 kZvsk †ewk| D‡jøL¨ †h, 2016-2017 †gŠmy‡g me©‡kl wbjv‡g
cÖwZ †KwR Pv‡qi RvZxq Mo weµq g~j¨ wQj 191.01 UvKv hvÕ 2015-2016 †gŠmy‡g me©‡kl wbjv‡g wQj 187.23 UvKv|
 2016-2017 wnmvee‡l© †Kv¤úvbxi Cost of Goods Sold Gi cwigvY 67,55,35,118 UvKv hvÕ 2015-2016 wnmvee‡l© wQj
69,93,38,637 UvKv| 2016-17 wnmvee‡l© weµq jä A‡_©i Dci †Kv¤úvbxi †gvU gybvdv 30.13 kZvsk| cÿvšÍ‡i 2015-16
wnmvee‡l© wQj 35.54 kZvsk| 2016-17 wnmvee‡l© Ki cieZx© bxU gybvdv weµq jä A‡_©i 8.06 kZvsk hvÕ weMZ wnmvee‡l© wQj
13.80 kZvsk|
 †Kv¤úvbxi Af¨šÍixY wbqš¿Y eë¯’v †Rvi`vi Kivi j‡ÿ¨ †evW© m`m¨‡ì mgš^‡q MwVZ wbixÿv KwgwUmn †evW© KZ©„K MwVZ Ab¨vb¨ KwgwUi
mvwe©K I wbijm cÖ‡Póv Ae¨vnZ Av‡Q|
 kÖwgK Ges Kg©KZ©v-Kg©Pvix‡ì †eZb-fvZvw` e„w×mn Pv‡qi mv‡_ m¤ú„³ Ab¨vb¨ `ªe¨vwì g~j¨ e¨vcK e„w× cvIqvq 2016-2017 wnmvee‡l©
wbqš¿Y ewnf©~Z LvZ¸‡jv‡Z †Kv¤úvbxi e¨q e„w× †c‡q‡Q cÖvq 4.00 †KvwU UvKv|
 2016-17 wnmvee‡l© Pv‡qi Drcv`b 2015-16 wnmvee‡l©i Zzjbvq 2.48 kZvsk n«vm cvq| wbjv‡g Pv‡qi g~j¨ n«vm cvIqvi d‡j
2016-17 wnmvee‡l© weMZ wnmvee‡l©i Zzjbvq Ki c~e© bxU gybvdv 40.80 kZvsk n«vm cvq Ges 2017 mv‡ji Ryb ch©šÍ †Kv¤úvbx weMZ
wnmvee‡l©i GKB mg‡qi 13,24,67,606 UvKv Ki cieZ©x bxU gybvdvi ¯’‡j 7,94,04,893 UvKv gybvdv AR©‡b mg_© nq|
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 †Kv¤úvbxi eZ©gvb cÖavb wbe©vnx Kg©KZ©v, †Kv¤úvbx mwPe, A_© I wnmve wefv‡Mi cÖavb Kg©KZ©v Ges Af¨š—ixY wbixÿv wefv‡Mi cÖavb
Kg©KZ©v msµvšÍ Z_¨ bx‡P †`qv n‡jvt
µwgK bs bvg cèx
01. Rbve †gvt Avãyj AvDqvj eë¯’vcbv cwiPvjK
02. Rbve †gvt †jvKgvb †nv‡mb †Kv¤úvbx mwPe
03. Rbve †gvt †KivgZ Avjx Dcgnveë¯’vcK (A_© I wnmve)
04. Rbve †gvjøv †Mvjvg †gvnv¤§` eë¯’vcK (Af¨š—ixY wbixÿv)
wnmve weeiYx m¤ú‡K© cwiPvjKM‡Yi †NvlYv

K) †Kv¤úvbxi Avw_©K weeiYx cÖYq‡b Bangladesh Accounting Standards (BAS) Ges Bangladesh Financial Reporting
Standards (BFRS) Gi bxwZ AbymiY Kiv n‡q‡Q ;
L) †Kv¤úvbxi Chief Executive Officer Ges Chief Financial Officer G g‡g© †evW©‡K wbwðZ K‡i‡Q †h, Zviv †Kv¤úvbxi
Avw_©K weeiYxmg~n h_vh_fv‡e ch©v‡jvPbv K‡i‡Q Ges weeiYx‡Z †Kvb AmZ¨ Z_¨ cÖ`vb Kiv nqwb wKsev †Kvb mZ¨ †Mvcb Kiv
nqwb;
M) †Kv¤úvbxi Chief Executive Officer Ges Chief Financial Officer G g‡g© †evW©‡K AviI wbwðZ K‡i‡Q †h, †Kv¤úvbxi
Codes of Conduct Gi cwicwš’, wg_¨v ev A‰ea †Kvb †jb-‡`b Av‡jvP¨ eQ‡i wnmvefy³ Kiv nqwb ;
Ab¨vb¨ wewaMZ Z_¨ (Other Regulatory Disclosure)

 †Kv¤úvbx Zvi eëmvwqK Ab¨vb¨ SzuwK m¤ú‡K© mg¨K AeMZ Av‡Q Ges H mKj SzuwK †gvKvwejvq h_vh_ eë¯’v †bqv nq, hvÕ G
m¤úwK©Z Z_¨ †bvU bs 38.01, 38.02 & 38.03 †Z cÖKvk Kiv n‡q‡Q|
 2016-2017 wnmvee‡l© †Kv¤úvbx Related cvwU© mswkøó †Kvb c‡ÿi mv‡_ evwYwR¨K wfwË‡Z Ggb †Kvb †jb-‡`b K‡iwb hvÕ
Related Party Disclosure - G cÖKvk Ki‡Z n‡e|
 cÖv_wgK Ae¯’vq IPO I cieZx©‡Z †evbvm †kqvi Bmy¨ e¨ZxZ Ab¨ †Kvb Bbóªy‡g›U †Kv¤úvbx A`¨vewa Bmy¨ K‡iwb|
 cÖ_g †_‡KB †Kv¤úvbx GKB MwZ‡Z eëmv K‡i Avm‡Q, hvÕ ¯^”QZvi mv‡_ cÖKvk Kiv nq|
 †Kv¤úvbxi Avw_©K cÖwZ‡e`b IFRS-1 Abyhvqx Dc¯’vcb Kiv n‡q‡Q, ZvB G‡Z Extra Ordinary Gain/(Loss) AšÍfz©³
Kiv nqwb|
 Ab¨vb¨ eQ‡ii b¨vq 2016-17 wnmvee‡l© cÖ_g I wØZxq cÖvwšÍ‡K †Kv¤úvbx jvf K‡i‡Q Ges Z…Zxq I †kl cÖvwšÍ‡K †jvKmvb
w`‡q‡Q| KviY Pv K…wl wbf©ikxj cY¨ nIqvq †Kv¤úvbxi Avq Drcv`‡bi mv‡_ RwoZ| cÖ_g I wØZxq cÖvwšÍ‡K Drcv`b I
weµ‡qi cwigvY †ewk _v‡K, wKš‘ Z…Zxq I †kl cÖvwšÍ‡K Drcv`b Kg I mswkøó e¨q †ewk _v‡K| G Kvi‡Y Z…Zxq I †kl cÖvwšÍ‡K
†Kv¤úvbxi wbqwgZ †jvKmvb n‡q Avm‡Q| Pv Drcv`‡bi eëmv g~jZ †gŠmygx eëmv|
 Avw_©K cÖwZ‡e`b m¤úwK©Z weMZ cvuP eQ‡ii Z_¨ cÖKvk Kiv n‡q‡Q|
 †Kv¤úvbx wbqwgZ jf¨vsk cÖ`vb K‡i Avm‡Q|
 Av‡jvP¨ mg‡q 12wU †evW© mfv AbywôZ n‡q‡Q|
 †kqvi‡nvwìs m¤úwK©Z Z_¨ ms‡hvRbx-1-G mwbœ‡ek Kiv n‡q‡Q|
 weGmBwmÕi MvBWjvBb Abyhvqx cwiPvjK‡ì †cÖvdvBj evwl©K cÖwZ‡e`‡b †`qv n‡q‡Q|
 2016-17 wnmvee‡l© ¯^Zš¿ cwiPvjKmn †Kv¤úvbxi cwiPvjKMY‡K wd I cvwi‡ZvwlK eve` 7,24,500 UvKv cÖ`vb Kiv n‡q‡Q|
cwiPvjKgÐjxi Aemi MÖnY

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27
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AvMÖn cÖKvk K‡i‡Q| wbixÿK wnmv‡e Zv‡ì cybtwb‡qv‡Mi my‡hvM Av‡Q weavq 2017-2018 wnmvee‡l©i Rb¨ †Kv¤úvbxi wnmve wbixÿv Kvh©
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D‡jøL¨ †h, weMZ 14B Ryb,2017 Zvwi‡L AbywôZ †ev‡W©i 584Zg(Riæix) mfvq Rbve †gvt kIKZ Avjx Iqv‡iQx‡K †Kv¤úvbxi cwiPvjbv
cl©‡` ¯^Zš¿ cwiPvjK wn‡m‡e wb‡qvM cÖ`v‡bi wel‡q me©m¤§wZµ‡g wm×všÍ M„nxZ nq| Z`bymv‡i weMZ 15B Ryb, 2017 Zvwi‡Li b¨vU‡Kv/
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28
2017-2018 wnmvee‡l©i m¤¢vebv
2017-2018 wnmvee‡l© †Kv¤úvbxi evMvb¸‡jvi Pruning I Drainage mn Pv Pvlvev‡ì mv‡_ m¤ú„³ hveZxq Kvh©µg h_vmg‡q m¤úbœ Kiv
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(‰mq` kvnwiqvi Avnmvb) (†gvt mv‡ivqvi Kvgvj) (†gvt kIKZ Avjx Iqv‡iQx)
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cwiPvjK cwiPvjK eë¯’vcbv cwiPvjK
29
ANNEXURE – 1
Pattern of Shareholdings
Name of the shareholders along with their position of the shares are listed below:
SL No. NAME OF SHAREHOLDER SHARES HELD % OF HOLDING
Directors:
01. Mr.Md.Sarwar Kamal 139,907 2.12%
*02. Mr.Asaduzzaman Shahid Khan 1,010 0.01%
Shareholding position of the Executives:
01. Chief Executive Officer (CEO) 20 0.00%
02. Company Secretary (CS) - -
03. Chief Financial Officer (CFO) - -
04. Head of Internal Audit - -
05. Other Executives - -
Shareholders who hold 10% or more shares:
01. Investment Corporation of Bangladesh & it’s Mutual 21,31,203 32.29%
Funds, Unit Funds & Bangladesh Fund & Other Funds:
02. Sadharan Bima Corporation 7,58,710 11.50%
Other Shareholders, who hold less than 10% shares:
01. Govt. of the People’s Republic of Bangladesh 2,86,000 4.33%
02. Equity Resources Limited 3,81,850 5.79%
03. Financial Institutions other than ICB 95,900 1.45%
04. Other Institutions 3,05,513 4.63%
General Public 24,99,887 37.88%
66,00,000 100.00%
* Actions & functions as a Director of Mr.Asaduzzaman Shahid Khan had been restrained by Order passed in Writ Petition
No.4695 of 2016 dated 13.04.2016 & it was extended for another 6(six)months on 02.11.2016 and later on it was extended
for further 6(six) months on 09.04.2017 by the Hon’ble High Court Division of the Supreme Court of Bangladesh.
• 2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ †Kv¤úvbxi †gvU 12wU †evW© mfv AbywôZ n‡q‡Q| †Kv¤úvbxi eZ©gvb cwiPvjKgÐjx †h
mKj mfvq Dcw¯’Z wQ‡jb ZvÕ wb‡¤œv³fv‡e cÖ`vb Kiv n‡jvt
µ. bs cwiPvj‡Ki bvg cèx †hvM`v‡bi ZvwiL Dcw¯’wZi msL¨v

01 Rbve gyÝx mwdDj nK ‡Pqvig¨vb 23-05-2017 3
02 Rbve gBbyj Bmjvg cwiPvjK - 12
03 Rbve ‡gvt dv‡qKz¾vgvb ¯^Zš¿ cwiPvjK - 12
04 Rbve ˆmq` kvnwiqvi Avnmvb cwiPvjK 01-10-2016 5
05 Rbve ‡gvt mv‡ivqvi Kvgvj cwiPvjK 14-06-2017 1
cwiPvjK - 9
06 Rbve ‡gvt kIKZ Avjx Iqv‡iQx
¯^Zš¿ cwiPvjK 20-06-2017 1
07 Rbve KvRx QvbvDj nK cwiPvjK 09-09-2017 -
08 Rbve ‡gvnv¤§` web Kv‡kg cwiPvjK 27-10-2017 -
09 Rbve ‡gvt Avãyj AvDqvj eë¯’vcbv cwiPvjK - 12
30
• 2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ †Kv¤úvbxi mv‡eK cwiPvjKgÐjx †h mKj mfvq Dcw¯’Z wQ‡jb ZvÕ wb‡¤œ cÖ`vb Kiv
n‡jvt
µ. bs cwiPvj‡Ki bvg cèx Dcw¯’wZi msL¨v

01 W. G, ‡K, Avãyj gyweb mv‡eK cwiPvjK 8
02 Rbve ‡gvt BdwZLvi-DR-Rvgvb mv‡eK cwiPvjK 10
03 ‡eMg kvgxg AvLZvi mv‡eK cwiPvjK 3
04 Rbve wgR©v mvjgvb B¯úvnvbx mv‡eK cwiPvjK 4
05 Rbve ‡gvt Avãym mvjvg mv‡eK cwiPvjK 2
• 2016 mv‡ji RyjvB †_‡K 2017 mv‡ji Ryb ch©šÍ †gvU 7wU Òwbixÿv KwgwUiÓ (Audit Committee) mfv AbywôZ n‡q‡Q Ges †Kv¤úvbxi
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AwWU KwgwU _vKvKvjxb gšÍe¨
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Rbve †gvt dv‡qKz¾vgvb 7wU 7wU 7wU 100% 10-08-2016 †_‡K 20-06-17
01 ¯^Zš¿ cwiPvjK I AwWU KwgwUi †Pqvig¨vb ZvwiL ch©šÍ
(10-08-2016 †_‡K 20-06-17) 7wU mfv AbywôZ nq|
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02 (mv‡eK cwiPvjK I AwWU KwgwUi m`m¨) ZvwiL ch©šÍ
(10-08-2016 †_‡K 10-08-2016) 1wU mfv AbywôZ nq|
Rbve ‡gvt Avãym mvjvg 7wU 2wU 2wU 100% 30-08-2016 †_‡K 04-09-2016
03 (mv‡eK cwiPvjK I AwWU KwgwUi m`m¨) ZvwiL ch©šÍ
(30-08-2016 †_‡K 04-09-2016) 2wU mfv AbywôZ nq|
Rbve ‰mq` kvnwiqvi Avnmvb 7wU 4wU 3wU 75% 26-10-2016 †_‡K 20-06-17
04 cwiPvjK I AwWU KwgwUi m`m¨ ZvwiL ch©šÍ
(26-10-2016 †_‡K 20-06-17) 4wU mfv AbywôZ nq|
Rbve †gvt mv‡ivqvi Kvgvj 7wU 1wU 1wU 100% 20-06-2017 †_‡K 20-06-2017
05 cwiPvjK I AwWU KwgwUi m`m¨ ZvwiL ch©šÍ
(20-06-2017 †_‡K 20-06-2017) 1wU mfv AbywôZ nq|
Rbve †gvt kIKZ Avjx Iqv‡iQx 7wU 7wU 7wU 100% 10-08-2016 †_‡K 20-06-17
06 ¯^Zš¿ cwiPvjK I AwWU KwgwUi m`m¨ ZvwiL ch©šÍ
(10-08-2016 †_‡K 20-06-17) 7wU mfv AbywôZ nq|
31
AwWU KwgwUi cÖwZ‡e`b
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2) Rbve ‰mq` kvnwiqvi Avnmvb, cwiPvjK - KwgwUi m`m¨
3) Rbve †gvt mv‡ivqvi Kvgvj, cwiPvjK - KwgwUi m`m¨
4) Rbve †gvt kIKZ Avjx Iqv‡iQx, ¯^Zš¿ cwiPvjK - KwgwUi m`m¨
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• AwWU wefvM KZ…©K cÖ¯‘ZK…Z AwWU cøvb ch©‡eÿY I Aby‡gv`b|
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• †Kv¤úvbxi 13wU Pv evMvbmn mì `ß‡ii Af¨šÍixY wbixÿv Kvh© ch©‡eÿY|
• Af¨šÍixY wbixÿv Kv‡h©i Status Report ch©‡eÿY|
• Af¨šÍixY wbixÿv cÖwZ‡e`b ch©v‡jvPbv, mycvwik Ges G wel‡q KiYxq wba©viY|
N) Af¨šÍixY wbqš¿Y
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• Af¨šÍixY wbqš¿Y eë¯’vi Dbœqb |
• Management Information System (MIS) Gi AMÖMwZ/Dbœqb mn Computerization Gi gva¨‡g mwVK I `ªæZ Z_¨
cªvwßi c`‡ÿc mg~n ch©v‡jvPbv|
32
O) ewntwbixÿv
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• ewnthyM¥-wbixÿ‡Ki weiƒc gšÍe¨ mg~n ch©v‡jvPbv I cÖ‡qvRbxq eë¯’v MÖn‡Yi civgk© cÖ`vb|
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2016-17 wnmvee‡l© KwgwU Zv‡ì Dci Awc©Z `vwqZ¡mg~n h_vh_fv‡e cvj‡b m‡Pó wQj hvi wKQz welq wb‡¤œ Zz‡j aiv njt
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ewnthyM¥-wbixÿ‡Ki wbixÿv cÖwZ‡e`b I Avw_©K weeiYx mg~n h_vh_ ch©‡eÿY, wePvi-we‡kølYc~e©K eë¯’vcbv‡K h_vh_ †ÿ‡Î
cÖ‡qvRbxq w`K-wb‡`©kbv cÖ`vb Kiv n‡q‡Q|
N) bxwZ I ˆbwZKZv msµvšÍt
cÖwZôv‡bi me©¯Í‡i bxwZ I ˆbwZKZvi h_vh_ cÖwZdjb wbwðZKi‡Yi j‡ÿ¨ cÖ‡qvRbxq w`K&-wb‡`©kbv cÖÖ`vb Kiv n‡q‡Q|
33
KwgwUi mfv
2016 mv‡ji RyjvB n‡Z 2017 mv‡ji Ryb gvm ch©šÍ AwWU KwgwUi †gvU 7 (mvZ)wU mfv AbywôZ nq| AwWU KwgwU mfvi
Kvh©-weeiYx †Kv¤úvbxi †evW© mfvq wbqwgZfv‡e †ck Kiv n‡q _v‡K| KwgwUi mfvq Dcw¯’wZ wb¤œiƒct
eZ©gvb m`më„›`t
cwiPvjK
µ. mswkøó eQ‡i Dcw¯’wZi Dcw¯’wZi
bs mfvi msL¨v msL¨v nvi
mfvi msL¨v
10-08-16 †_‡K 20-06-17
Rbve †gvt dv‡qKz¾vgvb
01 7wU 7wU 7wU 100% ZvwiL ch©šÍ 7wU mfv AbywôZ
¯^Zš¿ cwiPvjK I AwWU KwgwUi †Pqvig¨vb
nq|
Rbve ‰mq` kvnwiqvi Avnmvb cwiPvjK wnmv‡e wb‡qv‡Mi ci

02 7wU 4wU 3wU 75%
cwiPvjK I AwWU KwgwUi m`m¨ KwgwUi 4wU mfv AbywôZ nq|
Rbve †gvt mv‡ivqvi Kvgvj cwiPvjK wnmv‡e wb‡qv‡Mi ci

03 7wU 1wU 1wU 100%
cwiPvjK I AwWU KwgwUi m`m¨ KwgwUi 1wU mfv AbywôZ nq|
10-08-16 †_‡K 20-06-17
04 7wU 7wU 7wU 100% ZvwiL ch©šÍ 7wU mfv AbywôZ
¯^Zš¿ cwiPvjK I AwWU KwgwUi m`m¨
nq|
AemicÖvß m`më„›`t
cwiPvjK
µ. mswkøó eQ‡i Dcw¯’wZi Dcw¯’wZi
bs mfvi msL¨v msL¨v nvi
mfvi msL¨v
†eMg kvgxg AvLZvi cwiPvjK n‡Z Ae¨vnwZi Av‡M

01 7wU 1wU 1wU 100%
mv‡eK cwiPvjK I AwWU KwgwUi m`m¨ KwgwUi 1wU mfv AbywôZ nq|
cwiPvjK n‡Z Ae¨vnwZi Av‡M

Rbve †gvt Avãym mvjvg
02 7wU 2wU 2wU 100% KwgwUi 2wU mfv AbywôZ nq|
mv‡eK cwiPvjK I AwWU KwgwUi m`m¨
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Dcw¯’Z wQ‡jb| 2016 mv‡ji RyjvB n‡Z 2017 mv‡ji Ryb ch©šÍ wnmve we‡ePbvKv‡j †Kv¤úvbxi ewnthyM¥-wbixÿ‡Ki cÖwZwbwa
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(†gvt dv‡qKz¾vgvb)
¯^Zš¿ cwiPvjK I AwWU KwgwUi †Pqvig¨vb
34
NATIONAL TEA COMPANY LIMITED
INFORMATION AT A GLANCE
January-
YEAR ENDED July’16- June’17 2015 2014 2013 2012
June 2016
A. TRADING RESULTS:
Turnover [in thousand tk.] 985,670 349,653 939,947 837,732 856,817 891,972
Gross Profit [in thousand tk.] 297,009 96,507 293,144 226,222 364,919 413,540
Interest Paid [in thousand tk.] 34,082 18,027 41,054 40,750 26,949 36,326
Profit/(Loss) before interest [in thousand tk.] 113,487 19,568 120,309 82,849 188,371 233,549
Net Profit/(Loss) [in thousand tk.] 79,405 1,541 79,255 42,099 161,422 197,223
Gross Profit on Sales [in % ] 30.13 27.60 31.19 27 42.59 46.36

Profit (Loss) on Sale before interest [in %] 11.51 5.60 12.80 9.89 21.98 26.18
Net Profit/(Loss) on Sales [in %] 8.06 0.44 8.43 5.03 18.84 22.11
Earning per Share [in tk.] 12.03 0.23 12.01 6.38 24.46 29.88
Sales Revenue per share[in tk.] 149.34 52.98 142.42 126.93 129.82 135.15
B. SHAREHOLDERS EQUITY
Share Capital [in thousand tk.] 66,000 66,000 66,000 66,000 66,000 66,000
Reserve and Surplus [in thousand tk.] 877,712 835,500 864,783 766,940 759,306 657,352
943,712 901,500 930,783 832,940 825,306 723,352
Dividend per Share [in tk./share] 1.80 3.00 2.00 3.00 3.00
Return on Shareholder’s Equity [In %] 8.41 0.17 8.51 5.05 19.56 27.27
Net Asset Value [NAV] in thousand tk. 943,712 901,500 930,783 832,940 825,306 723,352
Net Asset Value (NAV)[in tk./share] 142.99 136.59 141.03 126.20 125.05 109.60
Net operating cash flow [in tk.] 31,626 -98,737 197,917 108,112 112,614 244,144
Net operating cash flow [in tk./share] 4.79 -14.96 29.99 16.38 17.06 36.99
C. FIXED ASSETS NET [in thousand tk.] 1,679,366 1,574,587 1,526,691 1,403,091 1,288,452 1,183,967
Worth per share [in tk.] 254.45 238.57 231.32 212.59 195.22 179.39
D. OTHERS INFORMATION
Production [in thousand kg] 5,773 2,064 5,225 4,820 4,928 4,546
Cost of Production/kg [in tk] 151.51 205.82 164.25 159.63 153.49 145.50
Average Price/kg [in tk] 166.15 201.56 180.57 161.14 168.57 207.79
Planting tea [in hectare] 239.05 111.90 217.20 201 204.80 191.05
Face value of shares have been converted into tk. 10 each during 2011,
accordingly figures of previous years have been rearranged
35
Turnover [in thousand tk.] Gross Profit [in thousand tk.]
400,000
1,000, 000 350,000
364, 919
985, 670
900, 000
300,000
939, 947
800, 000
297 ,009
293, 144
700, 000
856, 817
837, 732 250,000
600, 000
500, 000 200,000
226, 222
400, 000
300, 000 150,000
349,653
200, 000
100, 000 100,000
96, 507
0
50,000
2016- 17
June,2016 201 5
201 4 0
201 3
2016-17 June,2016 2015 2014 2013
Interest Paid [in thousand tk.] Profit/(Loss) before interest [in thousand tk.]
45,000 200, 000
188 ,371
41,054
40,000 180, 000

40,750
35,000 160, 000

34,082
140, 000
30,000
120, 000
26,949
120, 309
25,000
113, 487
100, 000
20,000
80,000
18,027
82,849
15,000
60,000
10,000
40,000
5,000
19,568
20,000
0 0
2016- 17 June,2016 2015 2014 201 3 2016- 17 June,2016 2015 2014 201 3
36
Net Profit/(Loss) [in thousand tk.] Gross Profit on Sales [in %]

45.00
42.59
180,000
40.00
160,000
161, 422
140,000 35.00
31.19
120,000
30.00
27.60
100,000 30.13
25.00 27.00
80,000
79, 405
79,255
60,000 20.00
40,000
42,099
1,541
15.00
20,000
0 10.00
2016-17 June,2016 2015 2014 2013 2016- 17 June,2016 2015 2014 2013
Profit/(Loss) on Sale before interest [in %] Net Profit/(Loss) on Sales [in %]

25.00
21.9 8
20.00
18.00
18.84
20.00
16.00
12.8 0
14.00
15.00
12.00
11.5 1
9.89
10.00
10.00
8.00
8.43
8.06
5.60
6.00
5.00
5.03
0.44
4.00
2.00
0.00 0.00
2016- 17 June,2016 2015 2014 2013 2016-17 June,2016 2015 2014 2013
37
Earning per Share [in tk.] Sales Revenue per Share [in tk.]
30.00
160.00
24.4 6
25.00 140.00
120.00
20.00
100.00
15.00
12.0 1
12.0 3
80.00
10.00 60.00
6.38
40.00
126.93
142. 42
129 .82
149. 34
52.98
5.00
0.23
20.00
0.00
0.00
2016- 17 June,2016 2015 2014 2013
2016- 17 June,2016 2015 2014 2013
Reserve and Surplus [in thousand tk.] Dividend per Share [in tk./share]
880,000
860, 000 3.00

877, 712
2013
864, 783
840, 000
835, 500
820, 000
800, 000 2014 2.00
780, 000
760, 000 2015- 3.00
740, 000 June,2016
766, 940
759, 306
720, 000
700, 000 2016-17 1.80
2016-17
June,2016 2015
2014
2013 0.00 1.00 2.00 3.00
38
Return on Shareholder’s Equity [In %] Net Asset Value [NAV] in thousand tk.
25.00
960, 000
19.5 6
940, 000
943, 712
20.00
930, 783
920, 000
900, 000
901, 500
15.00 880, 000
8.51
860, 000
8.41
10.00 840, 000

5.05
832, 940
820, 000
825, 306
5.00 800, 000
0.17
780, 000
0.00 760, 000
2016- 17 June,2016 2015 2014 2013 2016-17 June,2016 2015 2014 2013
Net Asset Value (NAV)[in tk./share] Net operating cash flow [in tk.]
145.00
200, 000
142 .99
140.00
150, 000
141 .03
135.00
136 .59
100, 000
130.00
197, 917
112, 614
108, 112
50,000
31, 626
125.00
126 .20
0
125 .05
120.00
(98, 737)
115.00 (50,000)
2016 -17
June,201 6 (100, 000)
2015
2014
2013 2016-17 June,2016 2015 2014 2013
39
Net operating cash flow [in tk./share] Planting tea [in hectare]
30.00 250.00
239.05
25.00
217.20
200.00
204.80
20.00
201.00
15.00
150.00
10.00
29.99
17.06
16.38
5.00
4.79
100.00
111.90
0.00
-14.96
-5.00
50.00
-10.00
-15.00 0.00
2016- 17 June,2016 2015 2014 2013 2016-17 June,2016 2015 2014 2013
FIXED ASSETS NET [in thousand tk.] Worth per share [in tk.]
254.4 5
300.00
1,800, 000
238.5 7
231.3 2
1,679,366
1,600, 000
250.00 212.5 9
1,574,587
195.2 2
1,526,691
1,400, 000
1,403,091
200.00
1,288,452
1,200, 000
1,000, 000
150.00
800, 000
600, 000 100.00
400, 000
50.00
200, 000
0 0.00
2016-17 June,2016 2015 2014 2013 2016- 17 June,2016 2015 2014 2013
40
Pv Drcv`b (†KwR) nvRv‡ii As‡K
cÖwZ †KwRi Mo weµq g~j¨ (UvKvq)

250.00
201 .56
200.00
168 .57 166 .15
180 .57
150.00
161 .14
100.00
50.00
0.00
2013 2014 2015 Ryb, 20162 016-2017
cÖwZ †KwRi Drcv`b e¨q (UvKvq) UvKv
41
42
evMvb wfwËK cwimsL¨vb
Pv Drcv`b (†KwR) nvRv‡ii As‡K cÖwZ †KwRi Mo weµq g~j¨ (UvKvq) cÖwZ †KwRi Drcv`b e¨q (UvKvq) jvf/ (†jvKmvb) nvRv‡ii As‡K
Pv evMv‡bi bvg
2012 2013 2014 2015 2016
Ryb ch©šÍ
2016-17 2012 2013 2014 2015 2016 2016-17 2012
Ryb ch©šÍ
2013 2014 2015 2016 2016-17 2012 2013 2014 2015 2016 2016-17
cvÎ‡Lvjv 910 1040 1008 1087 459 1131 206.91 162.08 160.25 179.11 189.77 150.54 123.43 129.66 133.49 138.29 160.44 141.33 53441 46300 26731 38296 15111 9842
Kzigv 361 371 376 424 180 498 197.06 154.10 149.41 174.34 192.25 147.71 168.52 191.38 198.13 182.28 237.08 176.28 6846 -8735 -18666 -5114 -6660 -15004
Pv¤úvivq 333 361 343 416 178 513 216.44 181.27 174.73 189.98 210.37 178.12 153.12 164.29 176.55 166.23 201.52 144.50 13335 13379 -664 8168 2201 16923
g`b‡gvnbcyi 335 342 307 372 122 366 206.14 171.06 158.34 178.53 192.25 146.81 115.07 132.55 137.23 141.22 179.80 139.58 23561 17567 7107 11977 2925 2609
gvaecyi 338 355 359 375 163 392 204.34 163.59 165.67 183.61 207.59 169.80 167.68 183.01 183.70 200.73 238.96 199.23 6774 -418 -6889 -8625 -4938 -10724
RM`xkcyi 301 341 314 362 164 417 202.78 152.51 163.18 184.01 196.23 166.70 148.09 144.61 157.23 156.39 172.12 140.79 20315 9010 5036 12677 3582 10526
‡Zwjqvcvov 534 550 565 570 195 650 218.17 189.55 166.40 176.81 210.90 174.35 141.41 149.42 147.09 165.29 232.79 152.48 32377 34513 12892 3850 -3505 14338
PwÛQov 466 507 510 550 222 674 217.20 178.00 172.72 190.50 207.42 185.49 142.73 147.04 143.27 147.53 178.28 129.28 28769 31989 19416 23385 6423 39612
jv°vZzov 465 504 465 490 172 511 209.37 170.64 153.42 175.29 212.68 176.08 137.42 146.57 161.67 164.80 225.24 162.01 27640 19570 -1985 2790 -2407 8233
cviKzj 285 316 317 320 129 328 195.86 170.27 157.40 176.78 202.10 169.59 148.24 147.68 152.38 172.48 205.82 165.03 9301 7649 679 -506 -1748 1755
‡cÖgbMi 148 171 187 187 55 206 197.63 160.71 142.32 177.49 205.35 184.54 196.10 187.48 175.04 202.62 290.47 180.76 -780 -2603 -7059 -5362 -4220 37
weRqv 70 70 69 72 25 87 196.04 139.79 146.33 180.84 197.46 179.02 183.53 206.48 216.91 243.18 296.16 231.50 2437 521 -4900 -2978 -2700 -3428
cwUqv 0 0 0 0 -118 -123 -125 -128 -65 -159
Pv wecYb †K›`ª 2952 5056 3978 1600 670 6171
‡Kv¤úvbxi me©‡gvU
djvd‡ji cwimsL¨vb 4546 4928 4820 5225 2064 5773 207.79 168.57 161.14 180.57 201.56 166.15 145.50 153.49 159.63 164.25 205.82 151.51 226850 173675 35551 80030 4669 80732
cvÎ‡Lvjv Pv evMvb
Pv Drcv`b (†KwR) nvRv‡ii As‡K cÖwZ †KwRi Mo weµq g~j¨ (UvKvq)
1131 210
1087 189.77
1200 1040 1008 190
1000 170 160.25
179.11
800 150 162.
16 2 08
150.54
459 130
600
110
400
90
200 70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
cÖwZ †KwRi Drcv`b e¨q (UvKvq) jvf/ (†jvKmvb) nvRv‡ii As‡K

170 160.44
50000 46300
150
133.49 38296
141.33 40000
130
129.66 138.29
26731
110 30000
90 20000 15111
9842
70 10000
50 0
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
Kzigv Pv evMvb
498 210
192.25
500 424 190
376
174.34
371 170
400 154.10
150
300 149.41 147.71
130
180
200 110
90
100
70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

250
237.08
230 0
198.13
210
190
191.38 -5000 -5114
170 -6660
182.28 176.28
150
-10000 -8735
130
110
90 -15000 -15004
70
50 -18666
-20000
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
43
Pv¤úvivq Pv evMvb
230
210.37
600 513 210
190 181.27
500 416
170 189.98
361 343 178.12
400 174.73
150
300 130
178
200 110
90
100 70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

210 201.52 18000
190 176.55 16923
16000
170 14000 1337 9
166.23 12000
150
164.29 10000
130 144.50 8168
8000
110 6000
90 4000 2201
2000
70 0
50 -2000 -664
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ry b 2016 2016-17
g`b‡gvnbcyi Pv evMvb

20000 17567
15000 11977
10000 7107
5000 2925 2609
0
2013 2014 2015 Ryb 2016 2016-17
44
gvaecyi Pv evMvb
375 392 230
400 355 359 207.59
210
190
300 163.59 165.67
170 183.61
150 169.80
200 163 130
110
100 90
70
50
0
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

250 238.96
230 0
210 183.70 -418
190 -2000
200.73 199.23
170 -4000
183.01
150 -4938
130 -6000
-6889
110 -8000 -8625
90
70 -10000
-10724
50 -12000
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
RM`xkcyi Pv evMvb
500 210
417 184.01
190
341 362 163.
16
6 .18
18 196.23
400 314 170
150 166.
16
66.70
300 152.51
130
164
200 110
90
100
70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

190
170 157.
15 7 23 15000 12677
144.61 172.12 10526
150
156.39
130 140.
14 0 79 10000 9010
110 503 6
90 3582
5000
70
50 0
2013 2014 2015 Rb 2016
Ry 2016-17 2013 2014 2015 Ryb 2016 2016-17
45
‡Zwjqvcvov Pv evMvb
230 210.90
650
700 210 189.55
550 565 570
600 190
166.40
500 170
176.81 174.35
150
400
195 130
300
110
200 90
100 70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

250 232.79
230 35000 34513
210 30000
190 25000
170
147.09 165.29 20000
150 12892 14338
149.42 152.48 15000
130
110 10000
3850
90 5000
70 0
-3505
50 -5000
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
PwÛQov Pv evMvb
674 230
700 185.49
510 550 210 190.50
600 507
190 172.72
500 170 207.42
178.00
400 150
300 222 130
110
200 90
100 70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

190
178.28 39612
170 40000
143.27 35000 31989
150
147.04 147.53 30000
130 23385
129.28 25000
110 19416
20000
90 15000
70 10000 6423
5000
50
0
2013 2014 2015 Ryb 2016 2016-17
2013 2014 2015 Ryb 2016 2016-17
46
jv°vZzov Pv evMvb
230 212.68
600 504 490 511 210
465
500 190 175.29
170.64
170
400 176.08
150 153.42
300 130
172
200 110
90
100
70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

250 225.24 19570
230 20000
210
190 15000
170 161.67
164.80 162.01 10000 8233
150
130 146.57
5000 2790
110
90
0
70 -1985 -2407
50 -5000
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
cviKzj Pv evMvb
316 317 320 328 210
350 202.10
190
300 157.40
170
250 170.27 176.78 169.59
150
200
129 130
150 110
100 90
50 70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

230
205.82
210 8000 7649
190
170 6000
150 147.68 172.48 165.03
152.38 4000
130 1755
110 2000 679
90 0 -506
70
-2000 -1748
50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
47
‡cÖgbMi Pv evMvb
230
205.35
250 210
190
200 160.71
170 184.54
177.49
150 150
130 142.32
100
110
50 90
70
0
50
2013 2014 2015 Ryb 2016 2016-17
2013 2014 2015 Ryb 2016 2016-17

310 290.47
290 1000 37
270 0
250
230 -1000
210 175.04 -2000
190 202.62 -2603
-3000
170 180.76
150 187.48 -4000 -4220
130 -5000
110 -6000 -5362
90
70 -7000 -7059
50 -8000
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
weRqv Pv evMvb
210
100 87
190 197.46
70 69 72 170
80 180.84
139.79 179.02
150
60 146.33
130
40 25 110
90
20
70
0 50
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17

310 296.16
290
270 2000
250 521
230 216.91
210 243.18 0
231.50
190
170 206.48
150 -2000
-2700
130
110 -2978 -3428
-4000
90 -4900
70
50 -6000
2013 2014 2015 Ryb 2016 2016-17 2013 2014 2015 Ryb 2016 2016-17
48
Auditors’ Report to the Shareholders
We have audited the accompanying financial statements of National Tea Company Limited, which comprise the statement of
financial position as at June 30, 2017, and the statement of comprehensive income, statement of changes in equity and statement
of cash flows for the year then ended and a summary of significant accounting policies and other explanatory information.
Management’s responsibility for the financial statements

Management is responsible for the preparation and fair presentation of these consolidated and separate financial statements in
accordance with Bangladesh Financial Reporting Standards (BFRSs), the Companies Act 1994, the Securities and Exchange
Rules 1987 and other applicable laws and regulations and for such internal control as management determines is necessary to
enable the preparation of financial statements that are free from material misstatements whether due to fraud and error.
Auditors’ 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 (BSAs).
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 misstatements.
An audit involves performing procedures to obtain audit evidence about the amounts 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 entity’s 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 entity’s internal
control. An audit also includes evaluating 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 give a true and fair view of the financial position of National Tea Company Limited as at
30 June 2017 and their financial performance and cash flows for the year then ended in accordance with Bangladesh Financial
Reporting Standards (BFRSs) and comply with the Companies Act 1994, the Securities and Exchange Rules 1987 and other
applicable laws and regulations.
We also report that:

1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purpose of our audit and made due verification thereof;
2. In our opinion, proper books of account as required by law have been kept by the Company so far as it appeared from our
examination of those books;
3. The Company’s statement of financial position and statement of Comprehensive Income along with the annexed notes 1 to 41
dealt with by the report are in agreement with the books of account and returns;
4. The expenditure incurred and payments made were for the purposes of the Company’s business.
ARTISAN Masih Muhith Haque & Co.

Chartered Accountants Chartered Accountants
Dhaka, October 27, 2017
49
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2017
June 30, 2017 June 30, 2016 December 31, 2015

Notes (Audited) (Restated) (Restated)
Taka Taka Taka
Assets:
Non-current assets 1,730,819,005 1,621,391,111 1,574,521,010
Property, Plant & Equipments-at cost less Accu. Depreciation 4.00 1,641,786,123 1,537,254,652 1,489,231,230
Capital work -in-progress 5.00 37,579,547 37,332,262 37,460,253
Investments 6.00 2,014,180 2,014,180 2,014,180
Deferred Tax Assets 7.00 49,439,154 44,790,017 45,815,347
Current assets 402,132,216 450,908,533 356,172,788

Inventories 8.00 211,344,711 215,430,118 144,742,917
Trade Receivable & Others 9.00 43,936,980 62,944,355 36,818,692
Receivable from BTB 10.00 916,238 916,238 916,238
Loan to Eemployees 11.00 4,545,919 1,728,397 1,856,034
Advance, Deposits and Prepayments 12.00 37,625,059 40,317,684 34,699,562
Advance Income Tax 13.00 43,069,003 39,363,230 38,473,719
Accrued Interest on Investment 1,153,768 565,621 1,382,712
Cash & Cash Equivalents 14.00 59,540,538 89,642,890 97,282,914
Total Assets 2,132,951,221 2,072,299,643 1,930,693,798
Shareholders’ Equity & Liabilities

Shareholders’ Equity 943,712,249 901,500,219 930,783,348
Share Capital 15.00 66,000,000 66,000,000 66,000,000
Reserve & Surplus 16.00 860,114,180 753,114,180 753,114,180
Retained Earnings 17.00 17,598,069 82,386,039 111,669,168
Non-Current Liabilities 596,373,701 514,275,404 505,004,496
Long Term Loan (Secured) 18.00 239,170,225 173,066,270 173,066,270
Pre-Liberation Bank Loan 19.00 253,343 253,343 253,343
Provision for Taxation 20.00 39,266,987 33,290,437 31,360,040
Provision for Gratuity 21.00 218,082,494 197,343,354 200,561,258
Prepaid Income 22.00 6,324,726 6,957,199 7,589,672
Others Liabilities 23.00 74,936,353 85,025,228 73,834,340
Other Liabilities (Pre-Takeover) 24.00 18,339,573 18,339,573 18,339,573
Current liabilities 592,865,270 656,524,021 494,905,954

Trade Payable & Others 25.00 108,337,068 188,720,815 201,609,037
Short Term Loan (Secured) 26.00 460,043,106 446,341,082 270,836,158
Security Deposits 27.00 5,546,338 5,546,338 5,546,338
Dividend Payable 28.00 18,938,759 15,915,786 16,914,421
Total Shareholders’ Equity & Liabilities 2,132,951,221 2,072,299,644 1,930,693,798
Net Asset Value (NAV) per share 142.99 136.59 141.03
The annexed notes 1 to 41 form an integral part of these financial statements. These financial statements were approved by the Board of Directors on 27
October, 2017 and were signed on its behalf by:
Munshi Shafiul Haque Syed Shahriyar Ahsan Mohammed Bin Quasem Md. Abdul Awal
Chairman Director Director Managing Director
Md. Lokman Hossain Md. Keramot Ali

Company Secretary Chief Financial Officer
Signed in terms of our separate report of even date.

Dhaka, 27 October 2017
50
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2017
July’16 to June’17 July’15 to June’16 Jan’16 to June’16

Notes (Audited) (Re-arranged) (Audited)
Taka Taka Taka
Turnover 30.00 985,669,974 959,344,104 349,653,170
Less: Cost of Goods Sold 31.00 688,661,106 618,314,074 253,146,246

Gross Profit for the year 297,008,868 341,030,030 96,506,924
Less: Operating Expenses 192,616,255 177,909,562 76,495,316
Administrative & General Cost 32.00 158,443,263 144,227,494 65,640,084
Selling Cost 33.00 34,172,992 33,682,068 10,855,232
Income from Operation 104,392,614 163,120,468 20,011,608
Add: Other Income 34.00 10,421,730 11,969,271 2,684,448
Less: Financial Cost 35.00 34,082,037 38,718,832 18,027,194

Net Profit Before Tax 80,732,307 136,370,907 4,668,862
Less: Tax Expenses/(Income) 1,327,413 3,903,301 3,127,613
Current Tax 36.00 5,976,550 4,922,126 2,102,283
Deferred Tax (Income)/Expenses 7.00 (4,649,137) (1,018,825) 1,025,330
Net Profit After Tax 79,404,894 132,467,606 1,541,249
Unappropriate profit brought forward 37.00 (44,413,961) (82,296,470) 127,486,731
Adjustment in respect of previous years 39.00 (17,392,864) 48,032,424 202,751
Retained earnings carried forward 17,598,069 98,203,560 129,230,731
Earnings per share (EPS) ( In Taka) 12.03 20.07 0.23


51
STATEMENT OF CASH FLOWS
July’16 to June’17 July’15 to June’16

(Audited) (Re-arranged)
Taka Taka
CASH FLOWS FROM OPERATING ACTIVITIES

Collections from turnover & other income 1,013,878,460 981,593,569
Payment for Cost & Expenses (950,176,845) (818,793,504)
Cash generated from operation 63,701,614 162,800,065
Employees loan recovered 623,338 23,089

Interest paid (32,699,248) (37,428,265)
31,625,704 125,394,889
CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of property, plant & equipment and capital work-in-progress (124,757,009) (157,858,706)
Sale proceeds of property, plant & equipments 0 0
(124,757,009) (157,858,706)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan received 990,108,830 906,691,841
Loan paid (910,302,851) (823,485,379)
Dividend paid (16,777,027) (13,521,612)
63,028,952 69,684,850
NET CASH IN FLOW/(OUT FLOW) FOR THE PERIOD (30,102,353) 37,221,033

Opening cash & cash equivalents 89,642,890 52,421,857
CLOSING CASH & CASH EQUIVALENTS 59,540,537 89,642,890
Net operating cash flow per share 4.79 19.00


52
STATEMENT OF CHANGES IN EQUITY
(Figures in Taka)
Dividend Investment
Development Retained
Particulars Share Capital General Reserve Equalization Fluctuation Total
Reserve Earnings
Reserve Reserve
Balance on July 01, 2016 66,000,000 102,900,000 536,600,000 111,600,000 2,014,180 129,230,731 948,344,911
Inventory valuation adjustment 0 0 0 0 0 46,844,692 46,844,692
Balance on July 01, 2016 (Restated) 66,000,000 102,900,000 536,600,000 111,600,000 2,014,180 82,386,039 901,500,219
Dividend for Jan’15-June’16 0 0 0 0 0 (19,800,000) (19,800,000)
Transfer 0 0 90,000,000 17,000,000 0 (107,000,000) 0
Net profit after tax for the year 2016-17 0 0 0 0 0 79,404,894 79,404,894
Prior year adjustment 0 0 0 0 0 (17,392,864) (17,392,864)
Balance on June 30, 2017 66,000,000 102,900,000 626,600,000 128,600,000 2,014,180 17,598,069 943,712,249
Balance on July 01, 2015 66,000,000 102,900,000 536,600,000 111,600,000 2,014,180 (82,296,470) 736,817,710
Inventory valuation adjustment 0 0 0 0 0 15,817,521 15,817,521
Balance on July 01, 2015 (Restated) 66,000,000 102,900,000 536,600,000 111,600,000 2,014,180 (98,113,991) 721,000,189
Net profit after tax for the period 0 0 0 0 0 132,467,606 132,467,606
Prior year adjustment 0 0 0 0 0 48,032,424 48,032,424
Balance on June 30, 2016 (Restated) 66,000,000 102,900,000 536,600,000 111,600,000 2,014,180 82,386,039 901,500,219
The annexed notes 1 to 41 form an integral part of these financial statements. These financial statements were approved by the Board of Directors on 27 October, 2017 and
were signed on its behalf by:


53
NOTES TO THE FINANCIAL STATEMENTS
01.00 BACKGROUND AND STATUS

National Tea Company Limited (hereinafter referred to “NTCL” or “the company”) is a public limited company
incorporated in 1978 to take over the assets and liabilities from Government of the Peoples’ Republic of
Bangladesh (GOB) under a scheme of disinvestment of nine Tea Estate namely; Patrakhola, Kurmah, Champarai,
Madanmohanpur, Madabpur, Jagadishpur, Teliapara, Chundeecherra and Lackatoorah in Sylhet Division.
Subsequently, in 1982 The Company acquired four other Tea Estates from the GOB namely; Parkul, Premnagar,
Bejoya and Patiya. NTCL is also a listed company since 1978 and its shares are being traded at both Dhaka and
Chittagong Stock Exchanges.
02.00 NATURE OF BUSINESS

The NTCL carries on the business of plantation, cultivation, manufacturing and selling of tea and rubber. All the
Tea Estates except Patiya Tea Estate were in operation during the year under review. The company could not
take the possession of Patiya Tea Estate since taken over in 1982. Pursuant to a decision of the Government of
Bangladesh, the company has been incurring certain overhead cost relating to the Patiya Tea Estate.
03.00 SIGNIFICANT ACCOUNTING POLICIES

03.01 Basis of accounting:
These Financial statements have been prepared under the historical cost convention on going concern basis and in
accordance with the Generally Accepted Accounting Principle (GAAP) and International Accounting Standards
(IAS) as adopted in Bangladesh. Wherever appropriate such policies are explained in succeeding notes.
03.02 Reporting period and comparative figures:

For the statutory requirement of the Income Tax Ordinance, 1984 of section 2(35) “Income year” was changed
in the Finance Act, 2015. Accordingly these Financial Statements have been prepared for twelve months (from
July 2016 to June 2017) ending 30th June, 2017. Comparative statements and information is given as per para
# 38, 40 & 41 of Bangladesh Financial Reporting Standard (BFRS)-1for comparability reason by rearranging
the figures for the same period last year. This comparison is not mandatory for this year as this year is the first
year following the transition of accounting year from calender year to financial year as per instruction # 12 of the
minutes of the meeting among BSEC, DSE and CSE held on April 28, 2016.
03.03 Property, plant and equipment and depreciation:

a) Property, plant and equipment other than land and plantation are valued at cost less accumulated depreciation.
Leasehold lands are valued at the valuation made by the surveyors at the time of taking over. Depreciation has
been charged on diminishing balance method at rates varying from 10% to 25% depending on the type of assets
and their estimate useful lives. Depreciation on addition to property, plant and equipment is charged for the
whole year while no depreciation is charged on property, plant and equipment in the year of disposal.
b) Plantation cost includes cost of plantation relating to both tea and rubber cultivation. These are valued at cost
and no depreciation has been charged consistently since inception.
03.04 Capital work-in-progress:

Expenses have been classified depending upon their nature and shown as capital work-in-progress to be
capitalized when the assets are ready for production or put on use for production. Such capital work-in-progress
includes payment for tea and rubber plantation, materials, labour charges, development cost etc.
03.05 Stock and Stores:

Stock of tea and rubber is valued at lower of cost and net realizable value. Stock of stores is valued at average
cost price.
54
03.06 Employees benefit plans:
a) The Company has two retirement benefit plans namely; Gratuity Scheme and Provident Fund, covering all
eligible employees of the company. The company operates an unfunded gratuity scheme, provision in respect of
which has been made in the accompanying accounts.
b) The company has established a provident fund (recognized by the Tax Authority) to which eligible employees
contribute 10% of basic salary with the company contributing and equal amount. The fund is wholly administered
by a board of trustees. No part of the fund is included in the assets of the company.
03.07 Revenue recognition:

a) Revenue from sale of tea has been recognized when auction of sale is completed and in case of rubber, after
receiving sale proceeds and upon delivery of rubber. The invoice is raised at the time of delivery of rubber on a
consistent basis.
b) Compensation received from Occidental Bangladesh Limited for use of land of Lackatoorah Tea Estate for 30
years is recognized as income by way of apportionment over 30 years from which Tk. 632,473 (Note:-34.00) has
been taken into income during the current year.
03.08 Interest on loans:

The interest on all loans have been charged for the period of 12 months commencing from 01 July, 2016 .
However, consistent to the past practice, the interest on long-term loan has been capitalized on account of land
& plantation.
03.09 General:
a) Previous year’s figures have been rearranged, where necessary, to conform to current year’s presentation and
restated for presentation of changed policy on proposed dividend and income year in line with BFRS- 10 and
BFRS-8.
b) The figures have been rounded off to the nearest Taka.
c) The company has adopted the policy of deferred tax consideration effective from the year 2004 in compliance
with BAS 12. (Note-7.00)
d) As per BSEC order No. SEC/CURRCD/2009-193/109 dated September 15, 2011 the face value of company’s
shares have been converted into Tk 10 each in the EGM held on 26th November 2011 accordingly previous
year’s figures have been rearranged, where necessary, to conform to current year’s presentation.
04.00 PROPERTY, PLANT AND EQUIPMENT
04.01 Details of property, plant and equipment have been shown in Note: 04.07
04.02 All the land of tea estates are acquired under lease between GOB and NTCL for the period of 20 to 40 years.
Deeds are renewable after expiry of the lease term. The Lease of 10(Ten) gardens have already been renewed.
04.03 The Lease deed of Parkul Tea Estate and Premnagar Tea Estate is in gradual process to be executed and renewed
respectively.
04.04 In Lackatoorah Tea Estate there are 33 different type of civil suits are pending in respect of 566.43 acres of
land. Such as, Title Suit No. 32 of 2012 is going on before the Joint District Judge’s, Additional Court, Sylhet
regarding 428.83 acres of land out of total 566.43 acres. A total area of 170 acres and 40 acres of land of
Patrakhola Tea Estate and Madanmohanpur Tea Estate respectively are in the possession of Khasias (Tribal)
against which title suits are going on before the Judges Court, Moulvibazar.
55
04.05 That out of total land of Lackatoorah Tea Estate 4.4 acres of land had been occupied by the (Duplex Home)
Valley City Resort Ltd. in the year 2005. The original suit on the said land started on 11.11.1963, that the
opposite parties won all the suits upto the Appellate Division of Bangladesh Supreme Court till 1992. Thereafter
they mutated their name in the new record of rights (khatian) through A.C.(Land) concerned and against which
Misc. appeal was preferred to the A.D.C.(Rev.), Sylhet. Thereafter the opposite parties filed Writ Petition against
the impunged order passed by the said A.D.C. and got Rule which was made absolute against which C.P.L.A.
was filed in the Appellate Division of the Supreme Court of Bangladesh and the same was dismissed in merit.
i.e. the opposite parties won their cases upto the Appellate Division.
Later on finding no other alternative, Manager, Lackatoorah Tea Estate again filed the suit No. T.S. 20/2002
before the Joint District Judge’s Second Court, Sylhet on the same scheduled land, which is going on before the
Hon’ble High Court Division under Civil Revision No. 1168/2009 against an order of T.S. 20/2002. At the same
time the Writ Petition No. 4120/2007 filed by the Valley City Resort Limited against Government and others
for injunction, where the Hon’ble High Court Division directed the Government and as well as Lackatoorah
T.E./N.T.C. not to evict them from the suit land till disposal of the above mentioned Writ Petition. Out of rest
1.66 acres of land was occupied by some outsiders and to that effect-C.R. 261/2017– (0.16 acres Land) and C.R.
3692/2010– (1.50 acres Land) are going on before the Hon’ble High Court Division. Further there are 5 numbers
Civil Revision are going on before the Hon’ble High Court Division.
04.06 Legal opinion was sought in respect of the latest position of different cases and the position of these cases as
given by the Advocate concerned as follows:
1. Civil Miscellaneous Petition (CMP) No. 457 of 2015 arising out of First Miscellaneous Appeal (FMA) No.
399 of 2007of Bangladesh Supreme Court has been filed with a prayer to stay the operation of judgment passed
by Hon’ble High Court Division since the Judgment in FMA has not yet been signed.
2. C.R. No. 3194 of 1997 – Parkul Tea Estate V.S. The Government of Bangladesh – is pending for hearing
before the Hon’ble High Court Division.
3. It may be mentioned that there are some other cases pending in different courts against the Tea Estates
concerned and National Tea Company Ltd. and the said cases are Sub-judice.
56
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
AS ON 30 JUNE 2017
Note : 04.07 – Property, Plant and Equipment (Figures in Taka)
C O S T D E PR E C IAT I O N WRITTEN DOWN VALUE
Sl. as on
PA R T I C U LA R S Addition Charged
No. Balance as on Balance as on Rate Balance as on Balance as on
during the Adjustments during the Adjustments
July 01, 2016 June 30, 2017 % July 01, 2016 June 30, 2017 June 30, 2017 June 30, 2016
year year
1 Land & plantation 1,395,307,616 02,051,787 0 1,497,359,403 0 0 0 0 1,497,359,403 1,395,307,616
2 Building & other construction 184,215,293 17,493,749 0 201,709,041 10 122,823,983 7,888,506 0 130,712,489 70,996,552 61,391,310
3 Plant & machinery 181,620,401 579,469 0 182,199,870 15 142,887,531 5,896,851 0 148,784,382 33,415,488 38,732,870
4 Electric & gas installation 53,116,937 200,000 0 53,316,937 10 39,973,931 1,334,301 0 41,308,232 12,008,705 13,143,006
5 Water supply installation 53,040,888 1,476,310 0 54,517,198 10 36,777,041 1,774,016 0 38,551,057 15,966,141 16,263,847
6 Transport & motor vehicles 58,738,273 2,076,186 0 60,814,459 25 51,726,959 2,271,875 0 53,998,834 6,815,623 7,011,313
7 Furniture & fixtures 9,917,095 224,468 0 10,141,563 10 6,785,192 335,637 0 7,120,829 3,020,733 3,131,902
8 Tools & equipment 1,717,456 88,600 0 1,806,056 25 1,455,856 87,550 0 1,543,406 262,648 261,599
9 Office machinery & equipment 4,259,372 234,913 0 4,494,285 15 2,967,214 229,061 0 3,196,275 1,298,009 1,292,158
10 Bridge & culvert 14,234,132 84,242 0 14,318,374 20 13,535,407 156,593 0 13,692,000 626,374 698,725
11 Television & VCR 332,505 0 0 332,505 20 314,216 3,658 0 317,874 14,631 18,289
12 Oil & other tank 99,769 0 0 99,769 10 97,753 202 0 97,955 1,814 2,016
T O TAL 1,956,599,736 124,509,724 0 2,081,109,459 419,345,084 19,978,252 0 439,323,336 1,641,786,123 1,537,254,652
57
(Audited) (Restated) (Restated)
Taka Taka Taka
05.00 CAPITAL WORK- IN- PROGRESS

Opening balance 37,332,262 37,460,253 31,679,080
Less: Transferred to fixed assets 36,252,133 20,284,099 27,207,313
Add: Expenses made during the period 36,499,418 20,156,108 32,988,486
37,579,547 37,332,262 37,460,253
06.00 INVESTMENTS
a) Investment in shares of Bangladesh Aroma Tea Ltd. 2,006,600 2,006,600 2,006,600
b) Investment in unlisted Company -758 ordinary
shares of Tk.10 each in Chittagong Warehouse Ltd. 7,580 7,580 7,580
2,014,180 2,014,180 2,014,180
a) Investment in shares of Bangladesh Aroma Tea Limited represents 20,066 ordinary shares, the face value of
which is Tk. 100 each (last quoted price of DSE was Tk.45 each on 31.12.1995). No dividend has been received
against these shares since the date of investment. This company has been delisted by Dhaka Stock Exchange
Limited in 1997. It is noted that Tk.1,103,630 had been created as Investment Fluctuation Reserve in 1990 & Tk.
902,970 in 2005 with a view to covering the entire loss on investment in Bangladesh Aroma Tea Ltd.
b) Investment in shares of Chittagong Warehouse Ltd. held by Lackatoorah Tea Estate could not be transferred
in the name of NTCL since the share certificates are not traceable. The amount is considered irrecoverable and
accordingly, provision has been made for an amount of Tk.7,580 in 2005.
07.00 DEFERRED TAX ASSETS

Carrying amount of property, plant & equipment (excluding land) 144,426,724 141,947,036 144,007,302
Less: Tax base 124,100,846 123,763,749 126,707,433
Taxable temporary difference 20,325,878 18,183,287 17,299,869
Provision for gratuity 218,082,494 197,343,354 200,561,258
Provision for doubtful debts 0 0 0
Less: Tax base 0 0 0
Deductible temporary difference 218,082,494 197,343,354 200,561,258
Net deductible difference 197,756,616 179,160,067 183,261,389
Tax Rate 25.00% 25.00% 25.00%
Deferred tax asset 49,439,154 44,790,017 45,815,347
Less: Deferred tax asset in previous year 44,790,017 43,771,192 43,771,192
Deferred tax income/(expense) 4,649,137 1,018,825 2,044,155
Deferred tax has been computed based on previous information. Company has adopted the policy of Deferred
tax consideration effective from the year 2004.
08.00 INVENTORIES
a) Stock in trade
Stock of tea (Note:-8.a(1)) 147,758,331 161,403,006 112,975,939
Stock of rubber 1,297,100 778,413 1,736,661
Sub total 149,055,431 162,181,419 114,712,600
b) Stores, spares & food -stuff 62,289,280 53,248,699 30,030,317
211,344,711 215,430,118 144,742,917
58
Taka Taka Taka
8.a(1) Valuation of Stock of Tea

In persuant to the Finance Act 2015, the company changed its accounting year from calender year to financial
year (which was a changes in accounting policy as per clause # 5 of BAS-8; Accounting Policies, Changes in
Accounting Estimates and Error) as a result of that the company had to prepare and publish 18 (eighteeen) months
financial statements (from January 2015 to June 2016) in the last year. During the last year, the 18 months accounts
were not audited for a single period rather for two accounting periods; one is for 12 months (from January to
December 2015) and another for 6 months (from January to June 2016). As the last audited account was for 6
months, closing stock of tea was valued through dividing the total cost of this period by the total production (kg)
of made tea of that period. Being seasonal business in nature, January to June period is the cultivation period of the
tea industry where major expenses are incured and minimum production is made. As a result, valuation of closing
stock for this six months period results high cost of stock and which was Tk.201.10 per kg during the audit period
from January to June 2016. This high value of stock represents the opening stock for the current accounting year.
Since the company has to prepare 12 months account (from July 2016 to June 2017) and the stock valuation for the
current year also to be made for 12 months period, coparability between opening stock and closing stock and other
components of the financial statements is to be made as per para # 38, 40 & 41 of Bangladesh Financial Reporting
Standard (BFRS)-1; Presentation of Financial Statements, Section # 185 of the Companies Act 1994 and clause
19(2) of the DSE Listing Regulations-2015. In doing so, an adjustment in opening stock valuation for the current
period and prior period was made as per para # 22(b) of BFRS-8; Accounting Policies, Changes in Accounting
Estimates and Errors, which results in retrospective restatement of stock of tea and retained earnings by reducing
an amount of Tk.46,844,692 and Tk.15,817,563 respectively.
09.00 TRADE RECEIVABLE & OTHERS

Sales through local marketing unit-(unsecured) 850,565 695,869 775,764
Insurance Claim Receivable 0 600,000 600,000
Remittance In-Transit 38,883,866 61,648,486 35,442,928
Receivable from Warehouse 4,202,549 0 0
43,936,980 62,944,355 36,818,692
10.00 RECEIVABLE FROM BTB 916,238 916,238 916,238
This represents the amount receivable from Bangladesh Tea Board(BTB) since long as pension payable to British
staff by BTB at the time of transfering Patiya Tea Estate to NTC in 1982. The amount is doubtful of recovery and
accordingly provision has been made in full in 2005
11.00 LOAN TO EMPLOYEES

Opening balance 1,728,397 1,856,034 1,856,034
Add: Loan given during the year 3,440,860 0 0
Less: Loan recovered during the year 623,338 127,637 0
4,545,919 1,728,397 1,856,034
This represents secured loans given to the employees for purchase of Motor Car & Motor Cycle.
12.00 ADVANCE, DEPOSIT AND PREPAYMENTS

Advances (Note:-12.01) 25,254,113 25,338,703 18,137,763
Deposits (Note:-12.02) 6,996,330 6,918,954 6,840,728
Prepayments (Note:-12.03) 5,374,617 8,060,027 9,721,071
37,625,059 40,317,684 34,699,562
59
Taka Taka Taka
12.01 ADVANCES
Opening balance 25,338,703 18,137,763 18,137,763
Add: Advance made during the year 110,891,904 82,206,148 0
Less: Advance recovered during the year 110,976,494 75,005,209 0
25,254,113 25,338,703 18,137,763
12.02 DEPOSITS
Opening balance 6,918,954 6,840,728 6,840,728
Add: Advance made during the year 389,541 78,226 0
Less: Advance recovered during the year 312,165 0 0
6,996,330 6,918,954 6,840,728
12.03 PREPAYMENTS
Opening balance 8,060,027 9,721,071 9,721,071
Add: Advance made during the year 73,559,898 35,019,412 0
Less: Advance recovered during the year 76,245,308 36,680,456 0
5,374,617 8,060,027 9,721,071
13.00 ADVANCE INCOME TAX

a) Relating to period up to the assessments year 1978-79 34,536,109 34,536,109 34,536,109
b) Up to 31 August ,1982 for Premnagar Tea Estate 1,433,550 1,433,550 1,433,550
C) NTCL period (Note:-13.01) 7,099,344 3,393,571 2,504,060
43,069,003 39,363,230 38,473,719
13.01 ADVANCE INCOME TAX IN NTCL PERIOD

Opening balance 3,393,571 2,504,060 2,504,060
Add: Advance made during the year 3,705,773 889,511 0
Less: Advance adjusted during the year 0 0 0
7,099,344 3,393,571 2,504,060
14.00 CASH & CASH EQUIVALENT

Cash in hand 269,727 4,216,367 208,492
Cash at bank 59,270,811 85,426,523 97,074,422
Fixed deposit accounts (Note:14.01) 51,088,555 48,518,631 45,771,734
Short term deposit accounts 5,687,854 5,663,102 7,018,108
Current accounts 2,494,402 31,244,790 44,284,580
59,540,538 89,642,890 97,282,914
14.01 Fixed deposit

Jalalabad gas Transmission & Dist. Systems Ltd.-Gas line 6,076,209 4,422,000 4,212,000
For obtaining bank guarantee 6,076,209 4,422,000 4,212,000
Short term investment in FDR 41,526,305 41,400,542 38,423,281
Unclaimed Dividend 778,841 778,841 778,841
Interest on FDR 2,707,200 1,917,248 2,357,612
51,088,555 48,518,631 45,771,734
60
Taka Taka Taka
15.00 SHARE CAPIATL
As per BSEC Order No.SEC/CURRCD/2009-193/109 dated September 15, 2011 the face value of company’s
shares have been converted into Tk.10 each the EGM held on 26 November, 2011.
Authorized capital:
25,000,000 ordinary shares of Tk.10 each 250,000,000 250,000,000 250,000,000
250,000,000 250,000,000 250,000,000
Issued, subscribed & paid up capital
3,000,000 Ordinary shares of Tk.10 each fully paid up in cash 30,000,000 30,000,000 30,000,000
3,600,000 Bonus share of Tk.10 each 36,000,000 36,000,000 36,000,000
66,000,000 66,000,000 66,000,000
Classification of share holding position of the company at 30 June, 2017 is as follows:
No. of share No. of

Holding %
Range of holdings holders shares
Less than 5,000 shares 3,672 1,258,778 19.07
5,000 to 50,000 shares 109 1,371,136 20.77
50,001 to 100,000 shares 7 494,449 7.49
100,001 to 200,000 shares 1 139,907 2.12
200,001 to 300,000 shares 1 286,000 4.33
300,001 to 400,000 shares 1 381,850 5.79
400,001 to 500,000 shares 0 0 0
500,001 to 1,000,000 shares 1 758,710 11.50
1,000,001 to 10,000,000 shares 1 1,909,170 28.93
3,793 6,600,000 100
16.00 RESERVE & SURPLUS

General reserve 102,900,000 102,900,000 102,900,000
Development reserve 626,600,000 536,600,000 536,600,000
Dividend equalization reserve 128,600,000 111,600,000 111,600,000
Investment fluctuation reserve 2,014,180 2,014,180 2,014,180
860,114,180 753,114,180 753,114,180
17.00 RETAINED EARNINGS

Opening balance [Note:- 8.a(1)] 82,386,039 (98,113,991) 27,825,364
Less: Dividend 19,800,000 0 13,200,000
Less: Transfer to Development reserve 90,000,000 0 14,000,000
Less: Transfer to Dividend equalization reserve 17,000,000 0 0
Add/(less): Prior year adjustments (Note:39) (17,392,864) 48,032,424 47,606,837
Add: Net profit during the period 79,404,894 132,467,606 79,254,530
Add/(less): Prior year adjustments for reporting policy change [Note:8.a(1)] 0 0 (15,817,563)
Closing balance [Note:- 8.a(1)] 17,598,069 82,386,039 111,669,168
61
Taka Taka Taka
18.00 LONG TERM LOAN (SECURED)
a) Development loan from BKB 229,757,164 162,700,814 162,700,814
Gross Opening amount of development loan 162,700,814 162,700,814 144,877,990
Add: Loan received during the year for current period 86,408,830 0 35,455,309
Less: Payment made during the period 19,619,876 0 17,632,485
Add: Adjustment made during the period 267,396 0 0
b) EEC Revolving Fund through BKB 9,413,061 10,365,456 10,365,456

Gross Opening amount of EEC Revolving Fund 10,365,456 10,365,456 11,590,379
Less: Payment made during the period 1,224,923 0 1,224,923
Add: Adjustment made during the period 272,528 0 0
Total long term loan (Secured ) 239,170,225 173,066,270 173,066,270
a) Development loan from BKB

The above loan was sanctioned in the name of different Tea Estates of NTCL and spread over amongst the estates
subsequently based on the utilization of the loan. The loan is secured against the entire tea estates including
machinery, factory, building and quarters etc. The loan bears 11.50 % quarterly compound interest w.e.f April, 2017.
b) EEC Revolving Fund through BKB
The above loan has been taken under EEC revolving fund for plantation and import of irrigation engine, and
the utilization started from 2000. It bears 9.5 % quarterly compound interest and repayable in 5-20 equal annual
installments with a grace period 1-7 years depending on the nature of loan.
19.00 PRE-LIBERATION BANK LOAN

This represents the portion of pre-takeover long term loan
relating to Patiya Tea Estate 253,343 253,343 253,343
253,343 253,343 253,343
20.00 PROVISION FOR TAXATION

a) Relating to period up to the assessment year 1978-79 22,515,633 22,515,633 22,515,633
b) Up to 31 August 1982 for Premnagar Tea Estate 1,638,501 1,638,501 1,638,501
c) NTCL period (Note:20.01) 15,112,853 9,136,303 7,205,906
39,266,987 33,290,437 31,360,040
20.01 PROVISION FOR TAX IN NTCL PERIOD

Opening balance 9,136,303 7,205,906 7,205,906
Add: Provision made during the year 5,976,550 1,930,397 0
Less: Provision adjusted during the year 0 0 0
15,112,853 9,136,303 7,205,906
21.00 PROVISION FOR GRATUITY

Opening balance 197,343,354 200,561,258 174,010,396
Add: Provision made during the period 31,602,976 5,724,351 43,036,162
Less: Payment made during the period 10,863,836 8,942,255 16,485,300
218,082,494 197,343,354 200,561,258
62
Taka Taka Taka
22.00 PRE-PAID INCOME
Opening balance 6,957,199 7,589,672 7,589,672
Less: Adjustment made during the year 632,473 632,473 0
6,324,726 6,957,199 7,589,672
This represents the balance portion of compensation received in advance against use of land of Lackatoorah Tea
Estate (Note 03.07.b)
23.00 OTHER LIABILITIES

Provision against receivable from BTB 916,238 916,238 916,238
Accrued interest on loans (Note:-23.01) 70,451,075 80,539,950 69,349,062
Employees welfare Fund 3,000,000 3,000,000 3,000,000
Pension to British Staff 17,138 17,138 17,138
LD Tax of Patiya 551,902 551,902 551,902
74,936,353 85,025,228 73,834,340
23.01 ACCRUED INTEREST ON LOAN

Opening balance 80,539,950 69,349,062 69,349,062
Add: Interest charged during the year 24,519,000 11,190,888 0
Less: Interest paid/adjusted during the year 34,607,875 0 0
70,451,075 80,539,950 69,349,062
24.00 OTHER LIABILITIES (PRE-TAKEOVER)

This represents the liabilities to Government of Bangladesh against purchases consideration of Tea Estate .
Details break up is as under.
a) Adjusted profit for the period on January 1977 to June 1978

of nine Tea Estates taken over in 1978. 8,457,287 8,457,287 8,457,287
b) Balance of purchases consideration of Patiya T.E 9,882,286 9,882,286 9,882,286
18,339,573 18,339,573 18,339,573
a)This amount is payable to the Government as per Clause 5 of the transfer agreement dated on 15 July 1978
taken over in 1982.
b)This represents the purchase consideration of Patiya Tea Estate handed over to NTCL in 1982. In view of the
reluctance of NTCL to take over the garden since 1982 and the cases were pending against the garden regarding
ownership. It was decided in the meeting held on February 16, 1994 in the Ministry of Commerce in presence of
BTB and NTCL that BTB would take effective steps for the settlement of pending cases and submit a proposal to
the GOB for permanent solution of the problems faced by the garden. The matter is still under process.
25.00 TRADE PAYABLE & OTHERS

Creditors for goods & services (Note:-25.01) 61,984,492 63,306,427 60,158,607
Creditors for expenses (Note:-25.02) 32,934,287 47,188,139 77,767,016
Creditors for other finance (Note-25.03) 13,418,288 78,226,249 63,683,414
108,337,068 188,720,815 201,609,037
63
Taka Taka Taka
25.01 CREDITORS FOR GOODS & SERVICES
Opening balance 63,306,427 60,158,607 60,158,607
Less: Liability paid during the year 182,679,939 106,814,156 0
61,984,493 63,306,427 60,158,607
25.02 CREDITORS FOR EXPENSES

Opening balance 47,188,139 77,767,016 77,767,016
32,934,287 47,188,139 77,767,016
25.03 CREDITORS FOR OTHER FINANCES

Opening balance 78,226,249 63,683,414 63,683,414
13,418,288 78,226,249 63,683,414
26.00 SHORT TERM LOAN (SECURED)

Crop Hypothecation loan from Bangladesh Krishi Bank(BKB)
Opening balance 446,341,082 270,836,158 270,836,158
Add: Loan received during the year 936,444,078 459,630,420 0
Less: Loan paid/adjusted during the year 922,742,054 284,125,496 0
460,043,106 446,341,082 270,836,158
Other particulars are:
1) Bank : Bangladesh Krishi Bank
2) Limit : Taka 1,000,000,000
3) Interest Rate : 11.50% simple interest w.e.f April, 2017 earlier it was 12%.
4) Security : Present and Future produced Tea
5) Validity : 30 April, 2018
27.00 SECURITY DEPOSITS

Opening balance 5,546,338 5,546,338 5,546,338
Add: Deposit received during the year 0 0 0
Less: Deposit paid/adjusted during the year 0 0 0
5,546,338 5,546,338 5,546,338
This represents security deposits received from various parties against supply of goods and services.
64
Taka Taka Taka
28.00 DIVIDEND PAYABLE
Since 1978 to 2000 2,453,803 2,453,803 2,453,803

2001 277,549 277,549 277,549
2002 424,449 424,449 424,449
2003 378,882 378,882 378,882
2004 382,395 382,395 382,395
2005 749,252 749,252 749,252
2006 2,086,479 2,086,479 2,086,479
2007 1,043,048 1,043,048 1,043,048
2008 938,164 938,164 938,164
2009 826,535 826,535 826,535
2010 1,267,563 1,267,563 1,267,563
2011 1,055,964 1,055,964 1,055,964
2012 1,523,745 1,523,745 1,523,745
2013 1,192,458 1,192,458 2,009,052
2014 1,287,614 1,315,500 1,497,541
Jan’15-June’16 (Note:-28.01) 3,050,859 0 0
18,938,759 15,915,786 16,914,421
28.01
As per clause 176 of Articles of association of the company, Dividend unclaimed for one year after having been
declared may be invested or otherwise used by the directors for the benefit of the company until claimed. Out
of the above an amount of Tk.778,841 has been deposited on Fixed Deposit Account on 1999 with Pubali Bank
Limited, Santinagar Branch, Dhaka. The movement of last year’s dividend payable is as under:
Opening balance 15,915,786 16,914,421 16,914,421

Add: Dividend charged during the year 19,800,000 0 0
Less: Dividend paid during the year 16,777,027 998,635 0
18,938,759 15,915,786 16,914,421
29.00 PROPOSED DIVIDEND

The Board of Directors has recommended 18% cash dividend @ Tk. 1.80 per share of Tk.10 each for the period
from July 01, 2016 to June 30, 2017. Dividend for the year from January 01, 2015 to June 30, 2016 was paid @
Tk.3.00 per share.
65
(Audited) (Re-arranged) (Audited)
Taka Taka Taka
30.00 TURNOVER
Auction sale of tea 881,408,034 866,542,793 297,006,466
Local marketing unit 101,437,428 89,425,570 50,769,939
Rubber sale 2,824,512 3,375,741 1,876,765
985,669,974 959,344,104 349,653,170
31.00 COST OF GOODS SOLD

Opening stock in trade 162,181,419 86,556,856 130,530,163
Add: Cost of production (Note-31.01) 675,535,118 693,938,637 331,642,194
837,716,537 780,495,493 462,172,357
Less: Closing stock in trade (Note-08) 149,055,431 162,181,419 209,026,111
688,661,106 618,314,074 253,146,246
31.01 Cost of production
Production cost of tea (31.01A) 672,671,323 691,120,586 330,279,490
Production cost of rubber 2,863,795 2,818,051 1,362,704
675,535,118 693,938,637 331,642,194
31.01A (Sub Note)

Production cost of tea
Cultivation & Plucking cost
Cultivation 121,110,305 117,229,798 60,350,885
Labour sundries 99,571,887 81,262,953 47,693,032
Labour bonus 29,805,289 32,752,674 12,541,266
Crop plucking wages 91,232,058 93,198,900 35,082,487
Subordinates establishment (Note:-31.01A-01) 99,141,661 101,770,288 47,698,371
Workmen and staff welfare 19,994,896 21,123,384 9,598,646
Contribution to Provident fund 26,203,939 25,988,007 11,813,146
Garden transport 31,146,619 33,958,669 15,968,904
Land Development Tax (based on Bengali year) 8,292,016 19,530,430 17,577,661
Implements 253,516 377,758 287,591
Sub Total 526,752,187 527,192,861 258,611,989
Processing cost
Manufacturing wages 14,903,869 14,904,626 5,569,913
Power and fuel (Manufacturing) 67,151,212 68,014,836 28,362,457
Machinery repairs & maintenance including stores & spares 23,498,278 23,054,588 10,824,786
Depreciation (Note-4.07) 12,533,271 13,452,086 5,608,548
Sub Total 118,086,631 119,426,136 50,365,704
Other direct expenses
Building repairs & maintenance 4,959,191 9,810,404 7,229,036
Subsidy on wheat & other food staff 22,873,315 34,691,185 14,072,761
Sub Total 27,832,506 44,501,589 21,301,797
Grand Total 672,671,323 691,120,586 330,279,490
66
Taka Taka Taka
Note:-31.01A-01
This consists of salary and allowances paid to the staffs at the garden level which is revised after every two years
and the revised amount for the two years starting from January 2016 and ended on December 2017 is yet to be
finalized. No provision regarding this expense was made in the books of account ended on June 30, 2017 as the
new Staff agreement was signed on August 30, 2017 and the amount of expenses could not be measured reliably
till date. This expense will be accounted for in the books of account when final amount will be available.
32.00 ADMINISTRATIVE & GENERAL COST

Senior establishment 33,750,469 20,723,874 11,123,245
General stores 3,931,682 3,976,201 2,386,780
Insurance 927,415 913,733 687,363
Legal and surveying 524,824 1,572,939 543,755
Power and fuel (sundries) 5,089,087 5,648,052 2,677,809
Rates & taxes 453,000 894,212 472,106
Repairs to Furniture 147,826 190,418 155,912
General charges (Note-32.01) 5,417,155 5,027,375 3,010,003
Performance bonus 3,765,291 8,892,247 0
Head office expenses (Note-32.02) 45,719,005 37,167,697 17,641,055
Local marketing unit expenses 11,794,722 3,042,759 9,679,655
Depreciation (Note-4.07) 7,444,979 7,936,877 3,699,174
Immature cultivation 981,876 2,228,331 897,271
Audit fee (Note-32.03) 310,500 441,000 308,000
Central stores expenses 157,698 559,429 238,850
Maintenance of roads & bridge 108,613 55,606 17,059
Crockeries & Cutleries 15,000 15,000 0
Gratuity-including garden subordinate staff 31,602,976 38,306,514 9,071,210
DGM office expenses 6,301,145 6,635,230 3,030,837
158,443,263 144,227,494 65,640,084
32.01 General Charges

General charges consist of postage, telephone, subscription, advertisement, paper, books and periodicals, traveling
expenses, entertainment etc.
32.02 Head Office expenses

Under head office expenses includes among other Managing director and Directors remuneration are as follows :
Managing Director’s pay and allowances 2,014,117 1,676,550 852,250

Other Directors’ fees & remuneration 724,500 1,442,100 645,400
2,738,617 3,118,650 1,497,650
Note: No payment has been made to any non executive directors for any special services rendered
32.03 Audit Fee

Audit fee represents Tk.2,50,000 as fees for the audit of Company’s Accounts shared equally between two
firms and Tk.20,000 as fees for audit of Provident fund Account & Corporate Governance certificate along with
applicable VAT.
67
Taka Taka Taka
33.00 SELLING COST
Sales charges of tea 20,961,450 21,954,046 1,881,403
Inland freight and shipping 8,142,812 6,881,475 7,321,416
Tea house store (packing cost) 5,068,730 4,846,547 1,652,413
34,172,992 33,682,068 10,855,232
34.00 OTHER INCOME

Interest income 3,477,133 5,537,056 1,925,371
Interest on car/motor cycle loan (Note-34.01) 519,630 61,806 31,798
Compensation realized against use of land of Lackatoorah T.E
(Note-34.02) 632,473 1,264,946 632,473
Sale of sand 0 4,681,100 0
Miscellaneous income (Note-34.03) 5,792,494 424,363 94,806
10,421,730 11,969,271 2,684,448
34.01 Interest on car/motor cycle loan

This includes cash and accrued interest earned from the loan given to employee as per policy of the company.
34.02 Compensation realized against of land of Lackatoorah Tea Estate
Name of the company Land & Position

Occidental Bangladesh Limited. Lackatoorah T. E 632,473 1,264,946 632,473
632,473 1,264,946 632,473
34.03 Miscellaneous income

This includes sale of spares items and VAT rebate received from VAT authority through Warehouse authority.
35.00 FINANCIAL COST

Interest on short term loan 32,699,248 37,428,265 17,918,164
Bank charges & application fee 1,382,789 1,290,567 109,030
34,082,037 38,718,832 18,027,194
36.00 CURRENT TAX

Current tax 5,976,550 4,922,126 2,102,283
5,976,550 4,922,126 2,102,283
The rate of tax is @ 25.00% on the net profit. But during the year the Taxable profit of the company is negative,
therefore 0.60% Turnover Tax has been provided as per clause 82C of Income Tax Act 1984.
68
Taka Taka Taka
37.00 UNAPPROPRIATED PROFIT THROUGH FORWARD
Retained earnings carried forward 82,386,039 (82,296,470) 127,486,731
Less: Dividend & Transferred 126,800,000 0 0
Cash dividend 19,800,000 0 0
Transferred to dividend equalization reserve 17,000,000 0 0
Transferred to development reserve 90,000,000 0 0
(44,413,961) (82,296,470) 127,486,731
38.00 USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENT

These financial statements are prepared in conformity with the Generally Accepted Accounting Principles which
requires management to make estimates and assumption that affect the reported amounts of assets and liabilities
at the date of the financial statement. Actual results may differ from those estimate.
38.01 Credit Risk:

Credit risk represents the risk that one party to a financial instrument will cause a financial loss to the other
party by failing to discharge a contractual obligation. Credit risk mainly arises from trade debtors, advances and
prepayment and cash at bank, Treasury guidelines are followed for managing cash and cash equivalents while
short term investment decision are taken after proper review by treasury committee ensuring compliance with
treasury guidelines. The company operates on a 100% cash sales as tea sold in auction. As a result company ‘s
credit risk is almost zero.
38.02 Liquidity Risk:

Liquidity risk is the risk that the entity will not be able to honor its financial obligations as the fall due. For day
to day operation company heavily relay on debt financing both long term and short term. As company’s current
liabilities are almost 1.47 times of the current assets of the company. If the current market price and production of
the company fall then the company will not able to pay its current obligations. Considering the above all situation
company’s liquidity risk is moderate
38.03 Market risk:

a) Currency Risk:
The company does not have any foreign currency risk excepting import of tea machineries on differed payment.
b) Price Risk:
Price risk represents the risk that the fair value of future cash flows of a financial statement will fluctuate because
of a change in market prices (other than those arising from interest rate risk or currency risk).The price of tea
depends on the country’s local production and import of tea. Local production can be divided into two categories.
Such as i)Quantity Production, ii)Quality Production. If the local quality production increases then the price in
the auction will be higher. As a results of that market price is low. On the other hand country’s local demand of
the tea is increasing day by day when the quantity production raises there will be no market risk.
39.00 ADJUSTMENTS IN RESPECT OF PREVIOUS YEARS

The above balance is made up as follows
Provision for expenses in respect of previous years no longer
required, now taken as income 0 53,280,297 4,556,311
Less: Provision for expenses made in respect of previous year (17,392,864) (5,247,873) (4,353,560)
(17,392,864) 48,032,424 202,751
69
July’16 to June’17 July’15 to June’16 December 31, 2015
(Audited) (Re-arranged) (Restated)
Taka Taka Taka
40.00 PARTICULARS UNDER CLAUSE 12 TO SCHEDULE TO THE SECURITIES AND EXCHANGES RULES-1987 [RULE-12(2)]
Claims against the company not acknowledged as debt:
i) Pre-liberation bank loan Nil Nil Nil
ii) Uncalled liability on partly paid up share Nil Nil Nil
iii) Arrears of fixed cumulative dividend on preference shares
together with the period for which the dividends are in arrears. Nil Nil Nil
iv) The aggregate amount of contracts for capital expenditure
remaining to be executed and not provided for. Nil Nil Nil
v) Other sums for which the company is contingently liable Nil Nil Nil
vi) Where determinable , the capacity of the industrial unit actual production and the reasons of shortfall, if any:
In view of the plantation area of company , the management fixed the production target of tea at 6,250,000 kgs.
Out of which actual production was 5,772,687 kgs.
vii) The general nature of any credit facilities available to the company under any contract and not taken up at
the date of the financial statements.
viii) Aggregate amount due by directors and other officers of the
company or associated undertakings; Nil Nil Nil
Directors Nil Nil Nil
Associated undertakings Nil Nil Nil
Employees 4,545,919 1,728,397 1,856,034
ix) Securities and Exchanges Rules,1987 [Para -5(A),(iii) of Part-1]

The advance represents against expenses, goods and services and considered goods by the management and no
collateral security is held against the advance.
x) Securities and exchange Rules,1987 [Para-4(ii) of part-II]
Mode of disposal of machinery and equipments Tender Tender Tender
41.00 PARTICULARS OF REQUIREMENT AS PER SCHEDULE -XI PART-II OF THE COMPANIES ACT 1994.
A) Para -3c
Commission paid to tea sales brokers @ 1% 0n auction sale proceeds 8,814,080 8,665,428 2,970,065
B) Para 3d (ii) Quantity in kg. Quantity in kg. Quantity in kg.

i) Opening stock of tea 1,203,501 676,640 1,238,070
ii) Production during the year (including moisture gain) 5,772,687 5,919,337 5,224,710
iii) Sold during the year 5,760,377 5,266,290 5,258,644
iv) Sample 37,250 38,600 16,490
v) Other consumption 27,081 27,770 21,832
vi) Tea waste destruction 0 59,816 54,727
vii) Closing stock 1,151,480 1,203,501 1,111,087
Less:
Tea waste of prior year 97,866 132,933 48,524
Tea waste during the year 97,042 30,961 74,731
Sample 0 7,277 7,789
Consumption 0 0 14,572
viii) Saleable tea 956,572 1,032,330 965,471
70
July’16 to June’17 July’15 to June’16 December 31, 2015
(Audited) (Re-arranged) (Restated)
Taka Taka Taka
C) Para-4 (i & ii)
i) Number of employees drawing salary above Tk.3000 p.m. 322 314 309
ii) Number of employees drawing salary below Tk.3000 p.m 0 0 19
D) Para-8 (d)
i) Number of non-resident share holders 32 33 33
ii) Number of shares held by the non-resident share holders 82,630 82,720 82,720
E) Para-8e(i)
Export on FOB basis Nil Nil Nil
F) Para-3(b)
Commission paid to selling agents Nil Nil Nil
G) Para-8(b)
Expenses incurred in foreign exchange on account of royalty,
technical expert & professional advisory fees, interest etc. Nil Nil Nil
Income earned in foreign exchange during the year. Nil Nil Nil
H) Para-8c
Value of imported materials spares and auxiliaries consumed Not Not Not
along with their respective percentage to local consumption. applicable applicable applicable

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34, †ZvcLvbv †ivW, XvKv -1000
†dvbt 9581563, 9575254, 9576478
d¨v·t880-2-9576395, B-‡gBjt natco@bangla.net
web:www.natcobd.com
72
Compliance Certificate to the Shareholders of
National Tea Company Limited
(As required under the BSEC Guidelines)
We were engaged by National Tea Company Limited we comply with ethical requirements, including
to provide certification whether the Company has independence requirements, and plan and perform
complied with the conditions of Corporate our procedures to obtain assurance whether the
Governance guidelines issued by the Bangladesh Company has complied with the conditions of
Securities and Exchange Commission in its corporate governance guidelines.
notification number SEC/CMRRCD/2006-158/134/
Admin/44 dated 7 August 2012 and SEC/CMRRCD/ Our conclusion has been formed on the basis of, and
2006-158/147/Admin/48 dated 21 July 2013 (the is subject to, the matters outlined in this report. We
“conditions of corporate governance guidelines”) for believe that the evidence we have obtained is
the year ended 30 June 2017. sufficient and appropriate to provide a basis for our
conclusion.
The company’s responsibilities
Conclusion
Those charged with governance and management of
the Company is responsible for complying with the In our opinion and to the best of our information and
conditions of corporate governance guidelines. Those according to the explanations provided to us, we
charged with the governance of the Company is also certify that, subject to the remarks and observations
responsible for stating in the director’s report whether as reported in the attached Compliance Statement, the
the Company has complied with the conditions of Company has complied with the conditions of
corporate governance guidelines. corporate governance as stipulated in the above
mentioned guidelines issued by BSEC for the year
Our responsibilities ended 30 June 2017.
Our responsibility is to examine the Company’s We also state that such compliance is neither an
status of compliance with the conditions of corporate assurance as to the future viability of the Company,
governance guidelines and to certify thereon in the nor a certification on the efficiency or effectiveness
form of an independent assurance conclusion based with which the Management has conducted the
on the evidence obtained. For the purpose of the affairs of the Company.
engagement,
Place: Dhaka
Date: 25 November, 2017 Syful Shamsul Alam & Co.
Chartered Accountants
73
STATUS OF COMPLIANCE OF CORPORATE GOVERNANCE
Status of compliance with the conditions imposed by the Bangladesh Security and Exchange Commission’s notification
no. SEC/CMRRCD/2006-158/134/Admin/44 dated August 7, 2012 and SEC/CMRRCD/2006-158/147/Admin/48 dated
21 July 2013 issued under section 2CC of the Bangladesh Security and Exchange Ordinance, 1969
Condition Compliance Explanation for non-compliance

Title
No. status with the condition
1 Board of Directors
Board Size: The number of the board members of the
1.1 company shall not be less than 5(five) and more than Complied
20(twenty).
Independent Directors: At least one fifth (1/5) of the
There are two Independent Directors
1.2 (i) total number of directors in the company’s board shall Complied
in the NTC Board.
be independent directors.
Independent director does not hold any share or holds The Independent Directors have
1.2 (ii) (a) Complied
less than 1% shares of the total paid up capital. declared their compliance.
Independent director or his family members are not
1.2 (ii) (b) connected with the company’s any sponsor or director Complied Do
or shareholder who holds 1% or more shares.
Does not have any other relationship, whether
1.2 (ii) (c) pecuniary or otherwise, with the company or its Complied Do
subsidiary/associated companies.
Independent director is not a member, Director or
1.2 (ii) (d) Complied Do
officer of any stock exchange.
Independent director is not a shareholder, director
1.2 (ii) (e) or officer or any member of stock exchange or an Complied Do
intermediary of the capital market.
Independent director is not a partner or an executive or
1.2 (ii) (f) was not a partner or an executive during the preceding Complied Do
3(three) years of any statutory audit firm.
Independent director shall not be an independent
1.2 (ii) (g) Complied Do
director in more than 3(three) listed companies.
Independent director has not been convicted by a court
of competent jurisdiction as a defaulter in payment of
1.2 (ii) (h) Complied Do
any loan to bank or a Non-Bank Financial Institution
(NBFI).
Independent director has not been convicted for a
1.2 (ii) (i) Complied Do
criminal offence involving moral turpitude.
The independent director shall be appointed by the Approval appointment of one
1.2 (iii) board of directors and approved by the shareholders Complied Independent Director in the AGM is
in the AGM. under Process.
The post of independent director(s) can not remain
1.2 (iv) Complied
vacant for more than 90(ninety) days.
The company has laid down a detailed
code of conduct for all known as
The board shall lay down a code of conduct of all
‘Standards of Business Conduct’
1.2 (v) board members and annual compliance of the code to Complied
which is applicable for the Directors
be recorded.
as well. Every Director has signed a
confirmation as to its compliance.
74
Title
The tenure of office of an Independent Director shall
The Independent Directors (IDs) are
1.2(vi) be for a period 3(three) years, which may be extended Complied
in their first term of office.
for 1(one) term only.
1.3 Qualification of Independent Director (ID)
Independent director shall be a knowledgeable
individual with integrity who is a able to ensure The qualification and background
1.3(i) compliance with financial, regulatory and corporate Complied of Independent Directors meet the
laws and can make meaningful contribution to requirement.
business.
Independent director should be a Business Leader/
Corporate Leader/Bureaucrat/University Teacher with
Economics or Business Studies or Law background/
Existing Independent Directors
Professionals like Chartered Accountants, Cost and
1.3(ii) Complied are with more than 12 years of
Management Accountants, Chartered Secretaries. The
experience.
Independent Director must have at least 12(twelve)
years of corporate management/ professional
experiences.
In special causes the above qualifications may be Not
1.3(iii)
relaxed subject to prior approval of the commission. Applicable
Chairman of the Board and Chief Executive Officer Chairman of the Board and CEO are
shall be filled by different individuals. Chairman different individuals and Chairman is
shall be elected from among the Directors. The Board elected from amongst the Directors.
1.4 Complied
of Directors shall clearly define respective roles The roles and responsibilities of the
and responsibilities of the Chairman and the Chief chairman of the Board and the CEO
Executive Officer. are approved in the Board meeting.
1.5 The Directors’ Report to Shareholders
Industry outlook and possible future developments in The Directors’ report complies with
1.5 (i) Complied
the industry. the guideline.
The Directors’ report complies with
1.5 (ii) Segment-wise or product wise performance. Complied
the guideline.
Discussed at ‘Other Regulatory
1.5 (iii) Risks and concerns. Complied
Disclosures’.
A discussion on Cost of Goods Sold, Gross Profit The Directors’ report complies with
1.5 (iv) Complied
Margin and Net Profit Margin. the guideline.
Discussed at ‘Financial
Discussion on continuity of any Extra Ordinary gain Not
1.5 (v) Performance’ and ‘Other Regulatory
or loss. Applicable
Disclosures’.
Basis for related party transactions: A statement of all
Mentioned at ‘Other Regulatory
1.5 (vi) related party transactions should be disclosed in the Complied
Disclosures’.
annual report.
Utilization of proceeds from public issues, rights Mentioned at ‘Other Regulatory
1.5 (vii) Complied
issues and/or through any others instruments. Disclosures’.
An explanation if the financial results deteriorate after
the company goes for Initial Public Offering (IPO), Not Mentioned at ‘Other Regulatory
1.5 (viii)
Repeat Public Offering (RPO). Rights Offer, Direct Applicable Disclosures’.
Listing etc.
If significant variance occurs between Quarterly
Discussed at ‘Financial
Financial Performance and Annual Financial
1.5 (ix) Complied Performance’ and ‘Other Regulatory
Statements the management shall explain about the
Disclosures’.
variance on their Annual Report.
75
Title
Remuneration to directors including independent Mentioned at ‘Other Regulatory
1.5 (x) Complied
directors. Disclosures’.
The financial statements prepared by the management
Stated under section “Directors’
of the issuer company present fairly its state of affairs,
1.5 (xi) Complied Declaration as to the Financial
the result of its operations, cash flows and changes in
Statement” in the Directors Report.
equity.
Proper books of account of the issuer company have
1.5 (xii) Complied
been maintained.
Appropriate accounting policies have been consistently
applied in preparation of the financial statements and
1.5 (xiii) Complied
that the accounting estimates are based on reasonable
and prudent judgment.
International Accounting Standards (IAS)/Bangladesh
Accounting Standards (BAS)/International Financial
Reporting Standards (IFRS)/Bangladesh Financial
1.5 (xiv) Reporting Standards (BFRS), as applicable in Complied
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
1.5 (xv) Complied
has been effectively implemented and monitored.
There are no significant doubts upon the issuer
company’s ability to continue as a going concern. If
Stated under section’ Going
1.5 (xvi) the issuer company is not considered to be a going Complied
concern’ in the Directors Report.
concern, the fact along with reasons thereof should be
disclosed.
Significant deviations from the last year’s operating
1.5 (xvii) results of the issuer company shall be highlighted and Complied
the reasons thereof should be explained.
Key operating and financial data of at least preceding The Directors’ Report complies
1.5 (xviii) Complied
5(five) years shall be summarized. with the guideline.
If the issuer company has not declared dividend (cash
Not The company declared dividend
1.5 (xix) or stock) for the year , the reasons thereof shall be
Applicable regularly.
given.
Stated in Annexure-1 of the
The number of Board meetings held during the year
1.5 (xx) Complied Directors’ Report which comply
and attendance by each director shall be disclosed.
with the guideline.
The Pattern of shareholding shall be reported to
1.5 (xxi) disclose the aggregate number of share (along with Complied Detailed Shown in Annexure -1
name wise details where stated below) held by:-
Parent/subsidiary/Associated Companies and other Not
1.5 (xxi-a)
related parties (name wise details); Applicable
Directors, Chief Executive Officer, Company
Secretary, Chief Financial Officer, Head of Internal
1.5 (xxi-b) Complied Annexure -1
Audit and their spouses and minor children ( name
wise details);
1.5 (xxi-c) Executives; Complied
Shareholders holding ten percent (10%) or more
1.5 (xxi-d) Complied
voting interest in the company (name wise details).
76
Title
In case of the appointment/re-appointment of a Director
company shall disclose the following information to
the shareholders:- a) The Directors’ Report complies with
a brief resume of the Director; b) the Guidelines as stated at “Board
1.5 (xxii) Complied
Nature of his/her expertise in specific functional areas; composition Section” in the Annual
c) Names of companies in which the person also holds Report.
the directorship and the membership of committees of
the board.
Chief Financial Officer (CFO), Head of Internal
2 Complied
Audit and Company Secretary (CS)
The company shall appoint a Chief Financial Officer The Company has appointed CFO,
(CFO) , a Head of Internal Audit (Internal control CS and Head of Internal Audit.
and Compliance) and a Company Secretary (CS). There are clearly defined roles,
2.1 Complied
The Board of director clearly define respective roles, responsibilities and duties which
responsibilities and duties of CFO, the head of Internal have been approved by Board as per
Audit and the CS. requirement of BSEC notification.
Attendance of CFO and the Company Secretary in the
2.2 Complied In Practice
Board Meeting
3 Audit Committee
The company shall have and Audit Committee as a Already in place. The TOR is
3 (i) Complied
sub-committee of the Board of Directors. available.
The Audit Committee shall assist the Board of
Directors in ensuring that the financial statements
3 (ii) reflect true and fair view of the state of affairs of the Complied In Practice. The TOR is available.
company and in ensuring a good monitoring system
within the business.
The Audit Committee shall be responsible to the Board In Practice. The duties are clearly
3 (iii) of Directors. The duties of the Audit Committee shall Complied written in the TOR of the Audit
be clearly set forth in writing. Committee.
3.1 Constitution of The Audit Committee
The audit committee shall be composed of at 3(three) The Committee is comprised of 4
3.1 (i) Complied
members (four) members.
The Board of Directors shall appoint members of The members of the Audit
the Audit Committee who shall be Directors of the Committee are appointed by the
3.1 (ii) Complied
company and Shall include at least 1(one) independent Board who are Directors one of
Director. them is Independent Director.
All members of the audit committee should be
“financially literate” and at least 1(one) member shall
have accounting or related financial management Based on academic qualifications
experience: The term Financially literate means the and professional experience, the
ability to read and understand the financial statement Board reviewed and considered
i.e. Balance Sheet, Income Statement and cash that all the existing members of the
3.1 (iii) Complied
Flow Statement and a person will be considered to Audit Committee are ‘financially
have accounting and related financial management literate’ and they have ‘related
expertise if (s)he possesses professional qualification financial management experience’
or Accounting / Finance graduate with at least 12 as per BSEC notification.
(twelve) years of corporate management / professional
experiences.
77
Title
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 committee members to be lower than the
The Board appointed members in
3.1 (iv) prescribed number of 3(three) persons, the Board of Complied
due time and no vacancy occurred.
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 Audit Committee.
The company secretary shall act as the secretary of the
3.1 (v) Complied
committee.
The quorum of the Audit Committee meeting shall not
3.1 (vi) Complied
constitute without at least 1(one) independent director.
3.2 Chairman of the Audit Committee
The Board of Directors shall select 1(one) member
3.2 (i) of the Audit Committee to be Chairman of the Audit Complied
Committee, who shall be an Independent Director.
Chairman of the Audit Committee shall remain present
3.2 (ii) Complied In Practice
in the Annual General Meeting (AGM).
3.3 Role of the Audit Committee Complied
3.3 (i) Oversee the financial reporting process. Complied In Practice
3.3 (ii) Monitor choice of accounting policies and principles. Complied In Practice
3.3 (iii) Monitor Internal Control Risk Management process. Complied In Practice
3.3 (iv) Oversee hiring and performance of external auditors. Complied In Practice
Review along with the management, the annual
3.3 (v) financial statements before submission to the board Complied In Practice
for approval.
Review along with the management, the quarterly and
3.3 (vi) half yearly financial statements before submission to Complied In Practice
the board for approval.
3.3 (vii) Review the adequacy of internal audit function. Complied In Practice
Review statement of significant related party
3.3 (viii) Complied In Practice
transactions submitted by the management.
Review Management Letters/Letter of Internal
3.3 (ix) Complied In Practice
Control weakness issued by statutory auditors.
When money is raised through Initial Public Offering.
(IPO)/Repeat Public Offering (RPO)/Rights Issue the
company shall disclose to the Audit Committee about
During the period under review no
the uses/applications of funds by major, category
IPO/RPO/Rights were issued or in
(capital expenditure, sales and marketing expenses, Not
3.3 (x) recent past. Stated in the Directors’
working capital etc), on a quarterly basis, as a part of Applicable
Report under the section ‘Other
their quarterly declaration of financial results. Further,
Regulatory Disclosure’.
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.
78
Title
3.4 Reporting to the Audit Committee
3.4.1 Reporting to the Board of Director
Audit Committee informs the Board
The Audit Committee shall report on its activities to
3.4 -1 (i) Complied periodically through its minutes
the Board of Directors.
which are placed at Board Meetings.
There was no reportable case of
3.4 .1
Report on conflicts of interests; Complied conflict of interest in period under
(ii)-a
review.
3.4 .1 Suspected or presumed fraud or irregularity or material
Complied There was no such case in the year.
(ii)-b defect in the internal control system;
3.4 .1 Suspected infringement of laws, including securities
Complied Do
(ii)-c related laws, rules and regulations.
3.4 .1 Any other matter which shall be disclosed to the Board
Complied Do
(ii)-d of Directors immediately.
Reporting to the Authorities. 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 and his discussed with the
board of Directors and the management that any
rectification is necessary if the audit committee find
3.4 .2 Complied Do
that such rectification has been unreasonable ignored,
the Audit Committee shall report such finding to the
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.
Reporting to the shareholders and General
investors. Report on activities carried out by the audit
The Audit Committee report is
committee, including any report made to the Board of
disclosed in the Annual Report and
3.5 Directors under condition 3.4.1 (ii) above during the Complied
signed by the Chairman of the Audit
year, shall be signed by the Chairman of the Audit
Committee.
Committee and disclosed in the annual report of the
issuer company.
4 External/Statutory Auditors
Non-engagement of external/statutory auditors in
4 (i) Complied In Practice
appraisal or valuation services or fairness opinions.
Non-engagement of external/statutory auditors
4 (ii) in financial information systems design and Complied In Practice
implementation
Non-engagement of external/statutory auditors
4 (iii) in Book-keeping or other services related to the Complied In Practice
accounting records or financial statements
4 (iv) Complied In Practice
Broker-dealer services.
4 (v) Complied In Practice
Actuarial services
4 (vi) Complied In Practice
Internal audit services
Non-engagement of external/statutory auditors in any
4 (vii) Complied In Practice
other service that the Audit Committee determines
79
Title
No partner or employees of the external audit firms
The audit firm has declared as such
shall possess any share of the company they audit at
4 (viii) Complied that none of them hold any share in
least during the tenure of their audit assignment of that
the company.
company.
Statutory Auditors were not engaged in issuing
4(ix) Complied In Practice
certificate on Corporate Governance Guideline.
5 Subsidiary Company
Provisions relating to the composition of the Board
of Directors of the holding company shall be made Not
5 (I)
applicable to the composition of the Board of Directors Applicable
of the subsidiary company.
At least 1 (one) independent director of the Board of
Not
5 (ii) Directors of the holding company shall be a director
Applicable
on the Board of Directors of the subsidiary company.
The minutes of the Board meeting of the subsidiary
Not
5 (iii) company shall be placed for review at the following
Applicable
Board meeting of the holding company.
The minutes of the respective Board meeting of the
Not
5 (iv) holding company shall state that they have reviewed
Applicable
the affairs of the subsidiary company also.
The Audit Committee of the holding company shall
Not
5 (v) also review the financial statements, in particular, the
Applicable
investments made by the subsidiary company.
Duties of Chief Executive Officer (CEO) and Chief
6
Financial Officer (CFO)
CEO and CFO have certified to
The CEO and CFO will certify to the Board that they
the Board during finalization of
have reviewed the financial statements and believe
the Financial Statement which is
6 (i)-a that These statements do not contain any materially Complied
stated in the ‘Directors Declaration
untrue statement or omit any material fact or contain
as to Financial Statements’ in the
statements that might be misleading.
Directors’ Report.
The CEO and CFO will certify to the Board that they CEO and CFO have certified to
have reviewed the financial statements and believe the Board during finalization of
that these statements together present a true and fair the Financial Statement which is
6 (I)-b Complied
view of the company’s affairs and are in compliance stated in the ‘Directors’ Declaration
with existing accounting standards and applicable as to Financial Statements’ in the
laws. Directors’ Report.
CEO and CFO have certified to
There are, to the best of knowledge and belief, no the Board during finalization of
transactions entered into by the company diving the Financial Statement which is stated
6 (ii) Complied
year which are fraudulent illegal or violation of the in the ‘Directors’ Declaration as
company’s code of conduct. to Financial Statements’ in the
Directors’ Report.
80
Title
Reporting and Compliance of Corporate
7
Governance
The company shall obtain a certificate from a
practicing Professional Accountant/Secretary
(Chartered Accountant/Cost and Management
Accountant/Chartered Secretary) regarding
7 (i) Complied
compliance of conditions of Corporate Governance
Guidelines of the Commission and shall send the same
to the shareholders along with the Annual Report on
a yearly basis.
The directors to the company shall state, in accordance
Status of Compliance is Published
with the Annexure attached, in the directors’ report
7 (ii) Complied with the Directors’ Report as
whether the company has complied with these
required.
conditions.
Right Shares were not issued by the company in case
of no compliance with the SEC notification no. SEC/ Not During the period under review no
7(iii)
CMRRCD/2006-158/134/Admin/44 dated 07 August Applicable right shares were issued.
2012 regarding Corporate Governance.
81
The Managing Director and CFO’s certification to the Board

We have reviewed the financial statements of National Tea Company Limited from July 2016 to June
2017 and to the best of our knowledge and belief:
A) These statements do not contain any materially untrue statement or omit any material fact or
contain statements that might be misleading;
B) These statements together present a true and fair view of the company’s affairs and are in compli-
ance with existing accounting standards and applicable laws.
There are, to the best of our knowledge and belief, no transactions entered into by the company
during the period under review which are fraudulent, illegal or violation of the company’s code of
conduct.
Managing Director Chief Financial Officer

Otober 27, 2017
82
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83

Annual Report 2017 of National Tea Company Limited

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Annual Report 2017 of National Tea Company Limited

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Gross Profit on Sales [in % ] 30.13 27.60 31.19 27 42.59 46.36

Turnover [in thousand tk.] Gross Profit [in thousand tk.]

45,000 200, 000

40,000 180, 000

35,000 160, 000

Net Profit/(Loss) [in thousand tk.] Gross Profit on Sales [in %]

Profit/(Loss) on Sale before interest [in %] Net Profit/(Loss) on Sales [in %]

860, 000 3.00

10.00 840, 000

600, 000 100.00

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