24 - bbspeb.com · 7/2/2019 · amount in bdt particulars share capital retained ea rn i ngs total...
TRANSCRIPT
Ilangladesh Building Systems LimitedtJn-Audited Statement of F'inancial Position
As at December 31,2018
ASSE'tSNon-current assets
Propefty, plant and equipment
Leased assets
Intangible asset
lnvestment in Associate company
(lurrent assets
I nventories
Advances. deposits and prepayments
Trade & other receivables
Cash and cash equivalents
TO'IAL ASSE'TS
ltQt-rITY AND LIABtLtTrES
Shareholders'equity'Share capital
Retained earnings
Total equitv
Non-cu rrent liabilitiesLong ternr loarrl.-case obligationDef'erreci tax liabiliry'
Current liabilitiesAccor-ilits and other payablesAccrurals and provisionsShort ternr loanCurrent portion of long ternr loanCurrent portion of lease obligation
'to]'AL EQUn'Y AND r-rABrLlTtr.S
Number of share used to calculate N,\\/
Net asset value per share
Chair
Chief Fi
Dated. Dhaka;
29 January 20 I 9
2,239,457,637
836,808.8 I 6
498,020,50,+
890, I I 9,848
11,508,469
2,140,906,334
686.228.972
486,101,776
e3 8.5 5 0.3 90
30,02s, r 96
3,891,119,532 3,679,039,273
2,218,343,040
|,4t0,647,040807
2,048,447,750
1,282,406,400
766,0,11,350
2,218,343,040
326,638,794
2,048,447,750
273,731,7557 [-i<'lqlBsrre8 | 84.5i r.8lr l l 07.-l8+.e78 I
| :or,.n r;. r rn | | rz,l.zqs.szs I
3,891,1 19,532
_!4t,064J91-r 5.73
.fbr and on belrul.l o/ rhe lloorcl ol l)irettors o/'llonglatleslt Building Ststents Ltd.
1,346,137,698
309,037,44 r
934,8,11 .76110,500,00027,094,966
1,356,856,768
,416,294,004,407934,588,e66
2 r,000,00052,846,829
3,619,039,273
t{|.06.l.70J
14.52
MNlanaging Direct&/
@Company Secretary
J
4
5
t)
t27
8
I ,651 ,66 I ,895922,539,982
r 38.898,2501As s7?
5 89,828,091
I,538,132,939947,360,791
145,606,932
116,1t7
444,749,099
ffia.w
Page-01
Bangladesh Building Systems LimitedUn-Audited Statement of Profit or Loss and other Comprehensive lncome
For the period ended December 31,2018
Pa rticula rs I \otcs
Rcvcnue
Cost olgoods sold
Gross prolit
0perating expenscs
r\clrn in istrati vc e\pcrtses
Selling ancl clistribLrtion c\penscs
Othcr opclating irtcontc
l'rol'it from opcrationl-'iniurcc inconrc
[]'inancc cost
Net prot'it from operationrorkers' prolit pamicipation lirndShalc ol' prolit ol' rssociate
l'rot'it betbrc tax
lnconrc ta\ oxpcnscs
Net prolit attcr tax
0thcr comprehcnsive inconre
Total cornprchensive incomc
\unrber of share usetl ttt calculate lilPS
lrarning per sharc firr the l'eriotl (llc-statcd)
l)ated, I)hakai29 .lanuan. 2019
Amount in BDT Amounl in BDT
0l/07/2018 to
3t fi212018(0(r Nlttnths)
0110712017 to3Ul2l20t1
(06 Months)
0l/10/2018 to
3tfi2t2018(01 Nlonths)
0lll0l20l1 to3u12l20l7(03 Months)
904.595.810 870.010.409
(701.316.001) (651,787.641)
203,279,819 218,222,768
426.lt75.480 400.980.1J25
(328"694, I 20) (307.5 I 9.926)
98, I It I ,360 93,460,899
{55.556.J1te) (60.587,6J1) (27,2-15,236) (Jl'{76.846)
1 ,1-. 1<.r.xlltl I r:l.l.rl.l5ltl I rl.i.5xn.85trrll rl8.(t55. ltt.rtl
I ,* Irrr 53n,l I ,z.r;n.-lrxrl I r.r.t,r,t..r8otll rr.'l2l.ll.rrl812.,100l{ I 1.100
l6
l4
l5
I J7,721,150
12.1.62..1
_ (68. l.l l. l l8)79,706,955
(3 7s5 569)
1.15"078.991
220,990,J7u
(5 1.095.0tt8 )
169,895,290
70,936,l2,l 62,796,353
I 24.623 i30.273(3 1.405,008) (32,7 I 9.630)
19,655,739 10,106,996
(1,888,369) (1,447,952)T.+.tt0.793 ;19.678.602
ll2,l7tl,l63 7[i'637'(r-16
158,417,J17
574.640
(63"254.615)
95.t67,162(4,560,355)
lJ l.lli"0-1.1r 72,J{0,141
(.11.3 51.563 ) (25.8r8"352) ( l 9.119.3.10 )
128,985,578 86,619,81I 59,298,306
169,895,290 128,985,578 86,639,81 I 59,298,306
__.!l_u!11111_ --!-t1J!1191- ----.!l-t-0!1J91----!ll9!1J91-
-----*-r4L -----q2L ------rLqr_--q.4?-
.f-or ond on behtl.l ol the llourd of l')irccrors Ltf lltttt54lutleslt lltrtltling S.y'.srents Lttl.
@Managing Director
Company Secretary
Page-02
Amount in BDT
Particulars Share capitalRetainedea rn i ngs
Total
Bangladesh Building Systems LimitedUn- Audited Statement of Changes in Equity
For the period ended December 31, 2018
l.l6-s.824.000
I r6.582,400
Balance as at 0l .01 .2011
lssuance ol bonus shares
Payrrrent ol cash dividend
Net profit after tax
Balance as at 30.06.2018
[]alance as at 0l .07.201 8
Issuance ol borrus shares
Net profit afier tax
Balance as at 31.12.2018
693,969.598
( I 16,582,400)
(58,29 r ,200)
246.94s,352
r,859.793.598
(58.2e r ,200)
246,945.352
I,282,406,400
1.282.106..100
128,240,640
766.04 r .3 50 2.048.417.750
(128,240,640)
l 69.895,290 I 69.895.290
@Managing Director
1,410,647 ,040 907,696,000 2,218,343,0.10
.fitr urtcl on behul/ o/ thc Bottrcl of Diret'trtrs ol Runglodesh Building Svstents Ltd
Company Secretary
Page 3
766,0211,350 2,018,447,750
Bangladesh Building Systems LimitedUn-Audited Statement of Cash Flows
For the period ended f)ecember 31, 2018
Cash flows from operating activities
Collections fiom customers & Others
Paynrents fbr operating costs & other expenses
lnconre-lax Paid and/or deducted at sources
Net cash generated from operating activities
Cash flows from investing activities
Acquisitions of property. plant and equiprrent
Net cash used in investing activities
Cash flows from financing activities
l-oan against finance lease
Borrorvings tromi( Repaynrent) banksitlnancial institutions
Borrorvings fiorn/Repavntent of Short Terrn Loan
Pay'nrent fiorr IPO Proceeds
Paynrent o1' cash dividend
Finance cost paid
Net cash provided bv financing activities
Net changes in cash and cash equivalents
Cash and cash equivalents at the beginning ofthe year
Cash and cash equivalents at the end of the Period
Number of share used to calculate NOCF-PS
Operating cash florv per share
Dated. Dhaka
29 January,20 I 9
.lbr and on beltul.[ol'the lJoord oJ l)irect, r.s ofi)unglatlesh lltrilding St,slems l.td.
953.151.005'785,216.651(867.342,535) (828,845,353)
( r6.4 r 7,7 r0) ( r4,66s.403)
69,390,760 (58,234,099)
( r ,s4 r ,607) ( r2, r40.40e)
(1,541,607) (12,140,409)
(6.860.047) (6, r 70.00s)
(8.60s,0 r8) (7,505, r6 r)
252.195 I t0,182.997
(t2,492) ( r 88,470)
(68, r4 r. il 8) (63.2-s4.6 r_5)
(83,365,880) 33,064,7 46
(15,st6,121) (31,309,162)
30,025, r96 t t3,423.283
14,508,469 76,113,521
111,064,704 141,061,704
0.49 (0.4r )
WManaging Directoi-
Company Secretary
ffi#Page-04
Bangladesh Building Systems Ltd.Notes to the lnterim Financial Statements
for the period ended 31 December, 20'lB1.00 Reporting Entity
The Company was incorporated in 19 July, 2003 as a'Private'Company limited by shares and registered with the
Registrar of Joint Stock Companies & Firms of Bangladesh under the Companies Act, 1994 lt has started its
commercial production in the year 2005 On 30 October, 2010 the Company registered itself as a Public Limited
Company under the Companies Act, 1994 The Company is listed with both Dhaka Stock Exchange Ltmited
(DSE) and Chittagong Stock Exchange Limited (CSE) at 03 October, 2013 and 30 September, 2013 respectively
and trading of the share of the Company has been started from 0B October, 2013
The regrstered office of the Company is located at Factory premises, Janina Bazar, Dhaka Mymensingh
Highway, Telehate, Sreepur, Gazipur. and Corporate Office is situated at Ga/64, Middle Badda, Progati Swarani,
Dhaka-1212 and the lnvestors Relation Department is situated at Gulshan Homestead Link Tower, Ta-99 (2nd
Floor), Gulshan-Badda link Road, Middle Badda, Dhaka-1212The principal activities of the Company throughout the year continued to be manufacturing and marketing of Pre-
Engineered Steel Building (PEB) in Bangladesh to meet-up the growing demand especially in the industrial
sector.
Bangladesh Building System Ltd (BBSL) always eager for managing and seeking expertise and obtaining state
of art technology to provide engineering solutions with world class quality and best customer services. lt holds
two world class quality certifications like "lSO 9001-2000" and "UKAS 01B" from international organizations.
Usually, BBSL deals with pre-engineered steel buildings like factories, warehouses, hall rooms, workshops,
aircraft hangers, office buildings, commercial showrooms, distribution centers, supermarkets, restaurants and
residential buildings as well.
2.00 Basis of Preparation of the interim Financial Statements:These financial statements are the un-audited interim financial statements (here after 'the interim financial
statements') of Bangladesh Building Systems Ltd, Companies incorporated in Bangladesh underthe CompaniesAct, 1994 for the 2nd quarter ended on 3'1 December, 2018 & Half Yearly (here after'the interim period') They
are prepared in accordance with the Bangladesh Accounting Standard (BAS-34) 'lnterim Financial Reporting'
l'hese financial statements should read in conlunction with the Annual Financial Statements as of 30 June, 20'18,
as they provided an update of previously reported information
The accounting policies and presentation used are consistent with those used in the Annual Financials, exceptwhere noted below. Where necessary, the comparative figures have been reclassified or extended from theprevrously reported lnterim Financial Statements to take into account any presentational change made in the
Annual Financial Statements or in these lnterim 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 and disclosure of contingent liabilities at the date ofthe tnterim Financial Statement. lf in the future such estimates and assumptions, which are based on
management's best judgment at the date of the lnterim 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.
The depreciation on PPE is recognized in compliancewith BAS-16, para-55 onward
lncome Tax expense is recognized based upon the best estimate of the weighted average income tax expectedfor the reporting period
The company has no reportable operating segments as per IFRS-8
There is no significant event after the end of the interim period that has to be reflected in the financial statements
for the interim period.
The financial statements have been prepared in compliance with the requirement of the Companies ACT 1994,
Securities and Exchange Ordinance 1969, Securities and Exchange Rules 1987, Listing Regulations-2015 of
Dhaka and Chittagong Stock Exchange Ltd. and other relevant local laws as applicable
3.00 Property, Plant & Equipment: Tk.922,539,982
Cost1,398,665,738
1,541 ,607
_______l_,ng2o7.3lg
1,378,470,768
20,194,970
1,398,665,738
#RSr
31-12-2018
Balance as on
Add: Addition during the period
Page 5
4.00
Depreciation:
Balance as on
Add. Addition during the period
Balance as on 31 December
Written down value as on 3'1 December
Leased Assets : Tk.138,898,250
Cost
Balance as on
Add: Addition during the period
Balance as on 3'1 December
Depreciation:
Balance as on
Add Addition during the period
Balance as on 31 December
Wrrtten down value as on 31 December
lntangible Assets: Tk.395,572
CcstBalance as on
Add. Addition during the period
Balance as on 31 December
Amortization:
Balance as on
Add: Addition during the period
Balance as on 31 December
Written down value as on 31 December
451,304,947
26,362,416
__________4ry,667_391
_-_____,-q4,q!9f!?
189,544,976
_______1q9,ry,9zq
396,375,689
54,929,258
451,304,947
947,360,791
180,230,976
9,314,000'189,544,976
5.00
43,938,044
6,708,682
___,,__i!,q16,2?q
____ __,1_18,!99&q
770,6-20
770,620
29,647,435
14,290,609
43,938,044
145,606,932
770,6_24
770,620
416,1',17
The cost incurred for the purpose of lntangible assets includes lT software which is used to maintain Company's
accounts lt also includes Share Management Software and Website
6.00 Cash & Cash Equivalents: Tk. 14,508,469
Casli ln-Hand
Balances with Bank:
Term Deposits (FDR)
Short Term Deposit (STD)
Current & Collection Accounts
IPO Deposits Accounts
Total
7.00 Long Term Loan: Tk.35,193,852
Term Loan UCBL
Less: Current Maturity of Long Term
354,503
20,545
375,048
________195,92?
35 r ,62514,',t56,844
4,589,276
8,208 989
1 186,038
172,541
14,508,469
3'10,156
44,347
354,503
3,050,932
26,974,265
17 ,957,2537 392,600
1,201 059
423,35330,025,197
45 693,852
45,693,852
10 500,000
35,193,852
11e839377 |
Lease Obligations: Tk. 84,531,823
Lease Obligqfioqs from UCBL
8.001114837751
|
Page 6
9.00
Term Loan-IDLC
Term Loan-llDFC
Less: Current Maturity of Lease ObligationLease Loan-UCBL
Term Loan-IDLC
Term Loan-llDFC
Total
lnvestment in Associate ComPanY:
Opening balance
Share of net profit after tax of associate
Total
10.00 Share of Profit after Tax of Associate
Nat Profit attributable to the Shareholders'
Percentage of HoldingShare of Net profit after Tax of Associate
111,626,789
27,094,96626,951,952
143,014
84,531,823
120,231,807
52,846,829
52,454,400
392,429
67,384,978
444,749,099
145,078,992
589,828,091
268,904,980
175,844,1-19
444,749,099
The company's investment in associates(BBSL has L6.67% equity interest in BBS Cables Ltd. i.e
23,000,000 Ordinary Shares of Tk. 10 each.) is accounted for the Financial Statements using the Equity
Method in accordance with BAS 28: 'lnvestment in Associates & Joint Ventures'. Significant influence
over an investee (associate) is presumed to exist in accordance with BAS 28.5-28.9. lnvestment in an
associate is initially recognized at cost, and the carrying amount is increased or decreased to recognize
the investor's share of the profit or loss of the investee after the date of acquisition. The investor's
share of investee's profit or loss is recognized in the investor's profit or loss.
870,299,89216.67%
486,700,86216.6
81,1
The percentage of holding of the Company has been reduced due to increasing the Capital of
1 1.00 Provision for tax: Tk. 251,353,685
Opening balance
Provision for the period
AIT adjustmentTotal
12.00 Short Term Loan: Tk. 934,841,761
UCBL-lmport Loan
OD-Work Order
Bill Purchase-UCBL
Deferred Acceptance-UCBL
CC-Hypo-Ucbl
IDLC
IID FC
Total
1.3.00 Deterred Tax Liability: Tk. 206,913,119
Openlng Balance
Adjustemnt/(Reduction) during the year on Fixed
assests at cost
Defferred Tax (Associate lncome@20%)
Less-Adjustment of AIT of Dividend lncome
Closing Balance
232,375,839
L8,977,846
251,353,585
196,830,531
35,545,308
232,375,839
251,353,685 232,375,839
721,,624,831
L0,897,520
2L,952,156
t58,747,78r21.,619,473
599,47 4,436
39,832,909
1.54,3t9,1,21
50,52s,000
90,437,500
L7 4,795,878
3,10r,443
29,015,798
131,261,188
31,168,82
206,913,tLg
Page 7
143.014 392,430
14.00 lncome Tax Expenses: Tk. 51,095,088
Current tax expenses
Deferred tax
15.00 Earnings per Share(EPS)- Basic: Tk. 1.20
The Computation of EPS is given below:
Earnings attributable to the Shareholders(Net
Prnfit after TavlTotal
Total number of Shares outstanding/weightedf^. +h^ ^^";^.1
Adjusted/ Basic Earnings per Share(per value Tk.
1n'l
t8,977,84632,1,1,7,241.
22,801,777
20,552,786
51,095,088
169,895,290
43,354,563
128,985,578
159,895,290 128,985,578
L47,064,704 L41",064,704
L.20 0.91
As per BSEC notification (No. BSEC/CMRRCD/2009-193l1.88lAdminl69-dated 07 September 2016),Earning per
share(EPS) has stood Tk.1.20 for the period ended on 31 December, 2108 as against Tk. 0.91 for the
endedon3lDecember,ZOLTdueto increasingthelncomeof theAssociateCompany.
16.00 Finance Cost: Tk. 68,141,118
Hypo l.oan Intcrcst
Irrport l-oan Interest
Intc.rest on I.BI'}[)
Ternr l-oan Intcrcst
OI) Work Ordcr Intelcst
Intcrcst on IJnion Capital l-oan
lnterest on lll)l-C l.oan'T'inre l-oan
llank (lonrmission. l.ease Intercst & Charges
17.00 Net Operating Cash Flows per Share (NOCFPS): Tk. .49
The Computation of NOCFPS is given below:
Net Cash Generated from Operating ActivitiesWeighted avearge number of Shares Outstanding
It.722.7u 1
I3.3 9ll. {J22
? qR, silt-295.ti96
7. I 8i.5925.664.913
n.892.56 r
58^141"118
69,390,760
6-927.15'7
22.735.770
95..126
3.211.763
r.87.1.367
r r.500"020.1.890.140
2.4,1 1.080
7.5 7 tt.892
63,254,6L5
141,064,704
(s8,234,099)
L4L,064,7040.49 (0.41)
As per BSEC notification (No. BSEC/CMRRCD 12009 t93ltB8/Admin/69-dated 07 September 2016),Net
perating Cash Flow per share has stood Tk.O.49 for the period ended on 31 December, 2108 as against Tk.
.41)for the period ended on 31 December, 2017 due to the declining of the iiability.
18.00 Related Party Transactions:
The Company has enetered into transactions with other entities that fall within the definition of related party
as contained in BAS-24"Related Party disclosures." Total transaction of the significant related party as of 31,
' December, 2108 are as follows:
BBS Cables Ltd.41,102,178BBS Cables(Unit-2) Ltd.
Personnel Payment during the
Name Designation Remuneration Gross Amount
Engr. Md. Abu Noman Howlader Ch ai rperson 1,390,000
Engr. Hasan Morshed ChowdhurY Managing Director 2,845,000
Engr. Mohammad Badrul Hassan Director-Sales & Mkt. 2,845,000
Mr. Md. Ashraf Ali Khan Director 1,060,000
Engr. Mohammad Ruhul Majid Director-lmplementation 2,845,000
A.S.M AIi Kabir lndependent Director 10,000
Md. Anower Hossain FCMA lndependent Director 10,000
Total 11,005,000
ln addition to remuneration, Directors avail company vehicles for transportation purpose.
WManaging Director
Company SecretaryChie'
Dated: Dhaka
29 January, 2019
Page 9