NATIONAL POLYMER INDUSTRIES LIMITED First Quarter Financial Statements We forward herewith the unaudited Financial Statements of the Company for the first quarter ended Sepember 30, 2014 as per Securities and Exchange Commissions Notifications No: SEC/CMRRCD/2008-183/Admin/03-34 dated September 27, 2009. Statement of Financial Position as at September 30, 2014 Provisional & Unaudited 30-09-2014 Notes Amount in Taka
30-06-2014 Amount in Taka
422,925
439,923
Total Non-Current Assets (A)
422,925
439,923
Current Assets: Inventories Trade Debtors Advance, Deposit and Prepayments Cash and Cash Equivalents
712,320 179,057 245,325 65,956
824,162 156,015 235,605 66,120
Total Current Assets (B)
1,202,658
1,281,902
TOTAL ASSETS (A+B)
1,625,583
1,721,825
Equity & Liability : Shareholders' Equity: Share Capital Share Premium Reserve on Revaluation of Assets Retained Earnings -As per Profit & Loss A/C
122,278 134,000 45,846 147,799
122,278 134,000 45,846 137,801
Total Shareholders' Equity (C)
449,923
439,925
Non-Current Liabilities: Long Term Loan Obligation under finance lease
117,994 4,859
117,994 4859
Total Non-Current Liabilities (D)
122,853
122,853
Current Liabilities : Cash Credit / Overdraft Obligation under finance lease Liabilities for Expenses Liabilities for Other Finance
1,035,015 1,625 13,562 2,606
1,140,921 2,127 11,372 4,627
Total Current Liabilities (E)
1,052,807
1,159,047
Total Liabilities (F = D+E)
1,175,660
1,281,900
TOTAL EQUITY AND LIABILITIES (C+F)
1,625,583
1,721,825
Particulars Assets : Non-Current Assets: Net Tangible Fixed Assets (At cost -Less accumulated depreciation) Deferred Expenses
NATIONAL POLYMER INDUSTRIES LIMITED Statement of Comprehensive Income for the year ended September 30, 2014 Provisional & Unaudited 30-09-2014 30-09-2013 Particulars Notes Amount in Taka Amount in Taka Revenue (Turnover) from Net Sales Cost of Goods Sold
395,453 (323,916)
326,067 (263,690)
71,537
62,377
Operating Expenses: Administrative & Selling Expenses
(31,043)
(27,481)
Finance cost
(28,478)
(24,675)
12,016
10,221
Gross Profit
Operating Income
2,500
Other Income Net Profit Before Tax & wppf
14,516
10,221
Transfer to Workers Profit Participation Fund (5%) Provision for Income Tax (27.5%)
(726) (3,792)
(511) (2,811)
9,998
6,899
Net Profit After Tax Other comprehensive income
-
Total Comprehensive Income for the year
Earnings Per Share (Per Value Taka 10)
9,998
0.82
6,899
0.56
NATIONAL POLYMER INDUSTRIES LIMITED Statement of Cash Flows for the year ended September 30, 2014 Provisional & Unaudited N 30-09-2014 o Particulars Amount in Taka t
30-09-2013 Amount in Taka
Cash Flow from Operating Activities: Collections From Turnover & Others Payment to Suppliers, Employees & Others
372,411 (352,612)
331,369 (322,663)
Net cash flow from operating activities (A)
19,800
8,706
(1,140)
(9,712) -
Cash Flow from Investing Activities: Acquisition of Fixed assets (Property, Plant and Equipment) Acquisition of Other Assets Disposal of Fixed Assets
Net cash used in investing activities (B)
2,500
1,360
(9,712)
(15,147)
15,000 (9,355)
(6,177)
(4,015)
(21,324)
1,630
(164)
625
Cash Flow from Financing Activities: Proceeds from Long Term Borrowings Repayment of term loans Dividend Paid Interest paid on Long term loan Net cash flow/ (used) from financing activities (C) Net increase / (Decrease) in cash (A+B+C) Opening cash & cash equivalent at beginning of the year
66,120
53,187
Closing cash & cash equivalent at end of the year
65,956
53,812
NATIONAL POLYMER INDUSTRIES LIMITED Statement of Changes in Equity for the year ended September 30, 2014 Provisional & Unaudited
Particulars
30 June, 2014 Net Profit After Tax First quarter ended Sept 30,2014
Share
Share
Tax Holiday
Revaluation
Retained
Capital
Premium
Reserve
Reserve
Earnings
Taka Amount
Taka Amount
Taka Amount
Taka Amount
Taka Amount
122,278
134,000
-
-
45,846
-
-
-
-
-
-
Total Taka Amount
137,801
439,925
9,998
9,998
30 September, 2014 =
122,278
134,000
-
45,846
147,799
449,923
30 September, 2013 =
106,329
134,000
-
45,846
122,818
408,993
National Polymer Industries Ltd. Notes to the 1st Quarter Financial Statements For the period ended September 30, 2014. Basis of preparation of the Interim Financial Statements: These Financial Statements (hereafter the Interim Financial Statements) of National Polymer Industries Ltd. for the first quarter ended September 30, 2014 (hereinafter the interim period). They are prepared in accordance with the Bangladesh Accounting Standard (BAS 34) Interim Financial Reporting. These Financial Statements should read in conjunction with the Annual Financial Statements as on 30 June 2014, because they provide an update of previously reported information. The Accounting Policies and presentation used are consistent with those used in the Annual Financial Statements, except where noted below. Where necessary, the comparatives have been reclassified or extended from the previously reported Interim Financial Statements to take into account any presentational changes made in the Annual Financial Statements or in these Interim Financial Statements. The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of revenue, expenses, assets, liabilities at the date of the Interim Financial Statements .If in the future such estimates and assumptions which are based on management’s best judgment at the date of the Interim Financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the period in which the circumstances change. The company operates in industries where significant seasonal or cyclical variations in total sales are not experienced during the reporting period. 18% stock dividend for the year ended 30 June, 2014 has been proposed that will be accounted for after the approval of the shareholders in the annual general meeting. The Company has no reportable segments as per requirements of BAS 14, segment reporting. There is no significant event to the end of the interim period that has to be reflected in the financial statements for the interim period. Earnings per share has been computed by dividing the profit after tax by the weighted average number of ordinary shares outstanding as on September 30, 2014 as per BAS 33 ‘’Earnings Per Share’’. Comparative Earnings Per Share has been restated as per BAS 33 ‘’ Earnings Per Share’’.
Figures have been rounded off the nearest Tk.’000 Sd/Head of Finance & Accounts
Sd/Managing Director
