Borrower Name:
Khulna Power Company Limited
Industry Classification:
Power, Gas & Oil-09
Prepared on (dd_mm_yyyy)
Statement Date (dd-mm-yyyy)
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
Audit Opinion
Analyst
12/31/2009
12/31/2010
12/31/2011
Group
N/A
Amounts in
BDT '000
12/31/2012
12/31/2013
12
###
12
###
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
ahman Rahman Huq ahman Rahman Huq ahman Rahman Huq si Chowdhury & Co. si Chowdhury & Co.
Qualified
Qualified
Qualified
Qualified
Qualified
Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan
INCOME STATEMENT
Capacity Utilization
Gross Sales Revenue / Turnover
6,393,267
7,945,763
11,262,207
10,347,961
10,249,769
6,393,267
7,945,763
11,262,207
10,347,961
10,249,769
Cost of Providing Services
5,718,431
7,222,668
9,697,123
7,914,599
7,910,716
Cost of Goods Sold / Cost of Sales
5,718,431
7,222,668
9,697,123
7,914,599
7,910,716
674,836
723,095
1,565,084
2,433,362
2,339,053
Less: VAT
Less: Returns etc.
Net Sales Revenue / Turnover
Opening Stock of Raw Materials
Purchase of Raw Materials
Less: Sale of Scrap / Adjustment
Less: Closing Stock of Raw Materials
Raw Materials Consumed
Factory Wages, Salaries & Allowances
Factory Utilities - Electricity, Gas, Fuel etc.
Repair and Maintenance
Depreciation : Manufacturing
Amortization : Manufacturing
Other Factory / Manufacturing Overheads
Total Manufacturing Cost / Works Cost
Opening Work-in-Progress
Less: Closing Work-in-Progress
Cost of Goods Manufactured / Production
Opening Stock of Finished Goods
Purchase of Finished Goods
Cost of Goods Available for Sale
Less: Closing Stock of Finished Goods
Gross Profit / (Loss)
Other Operating Income
91,481
11
(194)
700
5,200
Operating Expenses
64,078
78,683
131,314
142,481
206,349
Salary - Administrative
13,226
15,827
15,240
17,951
19,871
Advertisement & Promotional Expenses
814
1,024
2,768
1,478
939
Freight, C&F Charges
508
1,507
1,004
1,391
1,587
2,131
2,465
2,216
2,234
1,328
32,466
17,432
7,079
38,139
41,341
375
645
725
1,245
1,072
Salary & Commissions - Selling & Distribution
Bad Debt Expenses
Depreciation : Non Manufacturing
Amortization : Non Manufacturing
Insurance Expenses
Audit Fee
Directors' Remuneration
152
185
123
579
613
Other Operating Expense
14,406
39,598
102,159
79,464
139,598
Operating Profit / (Loss)
702,239
644,423
1,433,576
2,291,581
2,137,904
Income Statement 1
Income Statement 2
Non-Operating Income
Interest Income
11,330
19,844
8,540
32,390
118,044
9,156
19,844
8,540
32,390
118,044
3,751
76,642
21,440
8,025
3,751
76,642
21,440
8,025
Dividend Received
Gain on Disposal of Non Current Assets
Exchange Gain
2,174
Other Non-Operating Income
Non-Operating Expenses
Loss on Disposal of Non Current Assets
Exchange Loss
Other Non-Operating Expenses
Earnings Before Interest & Taxes - EBIT
713,569
660,516
1,365,474
2,302,531
2,247,923
Financial Expenses
130,921
120,796
531,621
614,984
247,970
14,723
18,778
444,182
554,474
211,059
10,680
6,690
5,579
Interest Expenses - Bank Loans & Advances
Interest Expenses - Directors Loan
Interest Expenses - Affiliated Concern
Interest Expenses - Others
Bank Charges, Commissions, Fees etc.
2,760
###
Lease Rental - Operating Lease
Other Financial Expenses
113,438
99,258
76,759
53,820
31,332
Earnings Before Tax - EBT
582,648
539,720
833,853
1,687,547
1,999,953
26,500
33,176
26,500
33,176
1,661,047
1,966,777
Tax Expenses
Current Tax
Deferred Tax
Tax Holiday Reserve
Others
Net Profit After Tax - NPAT
582,648
539,720
833,853
Income Statement 3
Khulna Power Company Limited
Statement Date (dd-mm-yyyy)
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
Amounts in
12/31/2009
12/31/2010
12/31/2011
BDT '000
12/31/2012
12/31/2013
12
12
12
12
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
ahman Rahman Huq ahman Rahman Huq ahman Rahman Huq si Chowdhury & Co. si Chowdhury & Co.
Audit Opinion
Qualified
Analyst
Qualified
Qualified
Qualified
Qualified
Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan
STATEMENT OF CHANGES IN EQUITY (RETAINED EARNINGS PART)
Retained Earnings - Opening Balance
294,438
Prior Year Adjustments: + / (-)
(70,898)
Retained Earnings - Restated Balance
223,540
597,595
395,920
731,660
1,958,643
597,595
395,920
731,660
1,958,643
Profit / (Loss) - Current Year
582,648
539,720
833,853
1,661,047
1,966,777
Profit / (Loss) - Distribution
(208,593)
(741,395)
(498,113)
(434,064)
(633,941)
312,890
479,764
179,912
(88)
18,349
34,152
31,629
(220,000)
(220,000)
(220,000)
395,920
731,660
1,958,643
3,291,479
Cash Dividend
208,593
Stock Dividend
###
382,312
Proposed Dividend
Others / Owners' withdrawal
Transfer to (-) / from (+) General Reserve
Transfer to (-) / from (+) Capital Reserve
Transfer to (-) / from (+) Tax Holiday Reserve
Transfer to (-) / from (+) Revaluation Reserve
Transfer to (-) / from (+) Other Reserve
Transfer to (-) / from (+) Current Liabilities
Retained Earnings - Closing Balance
597,595
SOCE 4
Khulna Power Company Limited
Statement Date (dd-mm-yyyy)
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
Amounts in
BDT '000
12/31/2009
12/31/2010
12/31/2011
12/31/2012
12
12
12
12
12/31/2013
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
ahman Rahman Huq ahman Rahman Huq ahman Rahman Huq si Chowdhury & Co. si Chowdhury & Co.
Audit Opinion
Qualified
Analyst
Qualified
Qualified
Qualified
Qualified
Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan
BALANCE SHEET
ASSETS
CURRENT ASSETS
Cash in Hand & Bank
701,136
71,039
447,522
1,805,456
2,157,751
387,941
1,185,346
1,783,331
1,712,301
2,139,534
4,546
473,673
20,473
Fixed Deposits - Short Term
Marketable Securities
Account Receivables - Trade
Receivable From Subsidiaries (CP)-Trade
Investment - Short Term
Investment in Associate / Subsidiary - Short Term
Inventory
981,640
814,060
1,062,483
2,055,158
436,410
981,640
814,060
1,062,483
2,055,158
436,410
1,549
149,152
80,939
36,391
103,832
Inventory: Raw Materials
Inventory: Work in Progress
Inventory: Finished Goods
Inventory: Stock in Transit
Inventory: Non-Trading
Advances, Deposits & Prepayments
Advance Income Tax
Advance VAT
Accrued Revenue
12,497
15,832
4,576
32,391
50,259
2,084,763
2,235,429
3,383,397
6,115,370
4,908,259
5,159,538
5,204,133
11,787,278
11,714,246
11,676,647
9,429
10,029
9,429
9,429
9,429
Plant & Machinery
5,136,751
5,179,942
11,764,090
11,691,007
11,653,243
Furniture & Fixture
1,074
1,665
1,028
1,162
1,162
Office Equipment
5,599
3,862
3,640
3,557
3,722
Motor Vehicles
5,385
7,335
7,335
7,335
7,335
Other Non-Current Assets
1,300
1,300
1,756
1,756
1,756
Gross Fixed Assets
5,159,538
5,204,133
11,787,278
11,714,246
11,676,647
Less: Accumulated Depreciation & Impairment
1,852,403
2,019,825
2,308,336
2,680,747
3,042,808
Net Fixed Assets
3,307,135
3,184,308
9,478,942
9,033,499
8,633,839
Other Current Assets
Total Current Assets
NON-CURRENT ASSETS
Fixed Assets other than leased assets
Land & Building
Leased Assets
Intangible Assets
Less: Accumulated Amortization & Impairment
Net Intangible Assets
3,782,852
Capital Work-in-Progress
Investment - Long Term
Investment in Associate / Subsidiary - Long Term
Deferred Tax Assets
Other Non-Current Assets
Total Non-Current Assets
3,307,135
6,967,160
9,478,942
9,033,499
8,633,839
Total Assets
5,391,898
9,202,589
12,862,339
15,148,869
13,542,098
Balance Sheet 5
Balance Sheet 6
Liability & Net Worth
CURRENT LIABILITIES
Overdraft / Cash Credit
587,093
Short Term Bank Loan
3,505,000
1,323,050
356,980
Long Term Loan - Current Maturity
1,249,753
Finance Lease Obligations- Current Maturity
Bonds / Debentures - Current Maturity
Redeemable Preference Share - Current Maturity
220,000
220,000
220,000
220,000
220,000
100,000
Loan From Associate / Subsidiary - Short Term
Director's Loan - Short Term
Accounts Payable / Creditors For Goods
1,486,105
Payable to Subsidiaries (CP) -Trade
1,733,222
2,780,878
4,506,082
2,850,303
29,046
32,860
12,244
12,244
Accrued Expenses / Creditors For Expenses
40,477
17,212
41,091
23,693
28,535
Interest Payable
70,898
63,507
280,826
53,798
30,956
9,057
8,514
8,448
10,748
Dividend Payable
Income Taxes Payable
26,500
33,175
VAT Payable
22,733
120,586
Deposits / Advances Received
Unearned Revenue
Worker Profit Participation Fund
Provident Fund
Other Current Liabilities
Total Current Liabilities
1,817,480
2,855,249
134,146
5,514,386
7,460,295
6,196,548
4,556,300
1,085,904
3,189,545
1,853,910
440,000
220,000
NON-CURRENT LIABILITIES
Long Term Loan -Net of Current Maturity
Finance Lease Obligations -Net of Current Mat.
Bonds / Debentures -Net of Current Maturity
Redeemable Pref. Share -Net of Current Mat.
880,000
660,000
Loan From Associate / Subsidiary - Long Term
Director's Loan - Long Term
Sub-Ordinated Loan
Supplier's Credit - Long Term
Deferred Tax Liability
10,891
11,050
25,136
30,723
35,372
890,891
671,050
1,551,040
3,440,268
1,889,282
2,708,371
6,185,436
9,011,335
9,636,816
6,445,582
2,085,932
2,398,821
2,878,583
3,058,495
3,440,807
220,000
220,000
440,000
277,688
597,595
395,920
731,660
1,958,643
3,291,479
2,412
20,761
54,915
86,542
2,683,527
3,017,153
3,851,004
5,512,053
7,096,516
Tangible Net Worth
2,683,527
3,017,153
3,851,004
5,512,053
7,096,516
Total Liability & Net Worth
5,391,898
9,202,589
12,862,339
15,148,869
13,542,098
49.10
Other Non-Current Liabilities
Total Non-Current Liabilities
Total Liabilities
EQUITY
Ordinary Share Capital / Paid Up Capital
Irredeemable Preference Share
Share Premium
Share Money Deposit
General Reserve
Capital Reserve
Tax Holiday Reserve
Revaluation Reserve
Other Reserves
Retained Earnings
Non-Controlling Interest / Minority Interest
Total Equity
Goodwill
Preliminary Expenses
Deferred Revenue Expenditure & Others
Mismatch
Additional Information
Market Price/Share (BDT as on B/S date.)
Face Value / Share (BDT)
Number of ordinary shares
112.10
63.30
49.80
10.00
10.00
10.00
10.00
10.00
208,593,000
239,881,950
287,858,340
305,849,490
344,080,676
Balance Sheet 7
Khulna Power Company Limited
Statement Date (dd-mm-yyyy)
Amounts in
12/31/2010
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
12/31/2011
BDT '000
12/31/2012
12/31/2013
12
12
12
12
Audited
Audited
Audited
Audited
Consolidated
Consolidated
Consolidated
Consolidated
ahman Rahman Huq ahman Rahman Huq si Chowdhury & Co. si Chowdhury & Co.
Audit Opinion
Qualified
Analyst
Qualified
Qualified
Qualified
Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan
CASH FLOW STATEMENT
Sales Revenue (Net)
Decrease/(Increase) in Account / Trade Receivables
Decrease/(Increase) in Receivable From Subs. (CP)-Trade
Cash Collected From Sales
Cash Cost of Goods Sold / Cost of Providing Services
7,945,763
11,262,207
10,347,961
10,249,769
(797,405)
(597,985)
71,030
(427,233)
(4,546)
(469,127)
453,200
7,148,358
10,659,676
9,949,864
10,275,736
(7,222,668)
(9,697,123)
(7,914,599)
(7,910,716)
Decrease/(Increase) in Inventory
167,580
(248,423)
(992,675)
1,618,748
Increase/(Decrease) in Accounts / Trade Payables
247,117
1,047,656
1,725,204
(1,655,779)
29,046
3,814
(20,616)
Increase/(Decrease) in Payable to Subsidiaries (CP)-Trade
Cash Paid to Suppliers
(6,778,925)
(8,894,076)
(7,202,686)
(7,947,747)
Cash From Trading Activities
369,433
1,765,600
2,747,178
2,327,989
Operating Expenses
(36,620)
(26,939)
(60,783)
(65,423)
(147,603)
68,213
44,548
(67,441)
(23,265)
23,879
(17,398)
4,842
Decrease/(Increase) in Advances, Deposits & Prepay.
Increase/(Decrease) in Accrued Expenses
Cash Paid For Operating Costs
Gross Cash From Operation
Other Operating Income
Other Operating Expenses
(207,488)
65,153
(33,633)
(128,022)
161,945
1,830,753
2,713,545
2,199,967
11
(194)
700
5,200
(39,598)
(102,159)
(79,464)
(139,598)
Non-Operating Income
19,844
8,540
32,390
118,044
Non-Operating Expenses
(3,751)
(76,642)
(21,440)
(8,025)
Decrease/(Increase) in Accrued Revenue
Increase/(Decrease) in Unearned Revenue
Increase/(Decrease) in Deposits/Advances Received
Increase/(Decrease) in WPPF
Increase/(Decrease) in Provident Fund
Decrease/(Increase) in Other Current Assets
Increase/(Decrease) in Other Current Liabilities
(3,335)
11,256
(27,815)
2,855,249
(2,721,103)
(134,146)
Current Tax
Decrease/(Increase) in Advance Income Tax
Decrease/(Increase) in Advance VAT
Increase/(Decrease) in Income Taxes Payable
26,500
6,675
Increase/(Decrease) in VAT Payable
22,733
97,853
Decrease/(Increase) in Differed Tax Asset
Increase/(Decrease) in Differed Tax Liability
(26,500)
(17,868)
(33,176)
Other Income (Expenses) & Taxes Paid
2,828,420
(2,880,302)
(207,042)
29,105
Net Cash From Operations
2,990,365
(1,049,549)
2,506,503
2,229,072
Financial Expenses
(120,796)
(531,621)
(614,984)
(247,970)
Increase/(Decrease) in Interest Payable
(7,391)
217,319
(227,028)
(22,842)
Dividend Declared / Owners Withdrawal
(741,395)
(498,113)
(434,064)
(633,941)
9,057
(543)
(66)
2,300
(860,525)
(812,958)
(1,276,142)
(902,453)
2,129,840
(1,862,507)
1,230,361
1,326,619
(356,980)
Increase/(Decrease) in Dividend Payable
Cash Paid for Dividend & Interest
Cash After Financing Cost
Long Term Loan - Current Maturity
Finance Lease Obligations- Current Maturity
Bond / Debentures - Current Maturity
Redeemable Preference Share - Current Maturity
(220,000)
(220,000)
(220,000)
(220,000)
Total Current Portion Long Term Liability
(220,000)
(220,000)
(576,980)
(220,000)
Cashflow Statement 8
Cash After Debt Amortization
Decrease/(Increase) in Fixed Assets
Decrease/(Increase) in Intangible Assets
Decrease/(Increase) in Capital Work-in-Progress
1,909,840
(2,082,507)
653,381
1,106,619
120,362
(6,296,850)
443,209
398,332
(3,782,852)
3,782,852
Decrease/(Increase) in Investment - Long Term
Decrease/(Increase) in Investment - Short Term
Decrease/(Increase) in Investment in Subs. - Long Term
Decrease/(Increase) in Investment in Subs. - Short Term
Decrease/(Increase) in Fixed Deposits - Short Term
Decrease/(Increase) in Marketable Securities
Decrease/(Increase) in Other Non-Current Assets
Total Cash Paid For Plant & Investments
(3,662,490)
(2,513,998)
443,209
398,332
Financing Surplus / (Requirement)
(1,752,650)
(4,596,505)
1,096,590
1,504,951
Increase/(Decrease) in CC/OD
587,093
2,917,907
(2,181,950)
(1,323,050)
Increase/(Decrease) in Long Term Loan
1,442,884
2,103,641
(85,882)
Increase/(Decrease) in Finance Lease Obligations
Increase/(Decrease) in Bond / Debentures
Increase/(Decrease) in Redeemable Preference Share
Increase/(Decrease) in Loan From Subsidiary - Short Term
100,000
Increase/(Decrease) in Loan From Subsidiary - Long Term
Increase/(Decrease) in Director's Loan - Short Term
Increase/(Decrease) in Director's Loan - Long Term
Increase/(Decrease) in Sub-Ordinated Loan
Increase/(Decrease) in Supplier's Credit - Long Term
159
14,086
5,587
4,649
Increase/(Decrease) in Short Term Bank Loan
Increase/(Decrease) in Other Non-Current Liability
Increase/(Decrease) in Equity
Total Financing
Financing Surplus / (Requirement) + Total Financing
Add: Opening Cash & Bank Balance
Ending Cash & Bank Balance
Mismatch
(100,000)
535,301
498,111
434,066
251,627
1,122,553
4,972,988
261,344
(1,152,656)
(630,097)
376,483
1,357,934
352,295
701,136
71,039
447,522
1,805,456
71,039
447,522
1,805,456
2,157,751
Cashflow Statement 9
Cashflow Statement 10
Cashflow Statement 11
Khulna Power Company Limited
Statement Date (dd-mm-yyyy)
Amounts in
12/31/2009
12/31/2010
12/31/2011
12/31/2012
12
12
12
12
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
Audit Opinion
Analyst
BDT '000
12/31/2013
hman Rahman Huq man Rahman Huq man Rahman Huq Chowdhury & Co. Chowdhury & Co.
Qualified
Qualified
Qualified
Qualified
Qualified
d. Rakibul Hassan . Rakibul Hassan . Rakibul Hassan . Rakibul Hassan d. Rakibul Hassan
FINANCIAL RATIO
Profitability Ratio
Gross Profit Margin
10.56%
9.10%
13.90%
23.52%
22.82%
Operating Profit Margin
10.98%
8.11%
12.73%
22.15%
20.86%
Net Profit Margin
9.11%
6.79%
7.40%
16.05%
19.19%
Return on Equity
21.71%
17.89%
21.65%
30.13%
27.71%
Return on Assets (Geared)
10.81%
5.86%
6.48%
10.96%
14.52%
Return on Assets (Ungeared)
13.23%
7.18%
10.62%
15.20%
16.60%
EBITDA to Sales
11.19%
8.34%
12.14%
22.27%
21.94%
EBIT to Sales
11.16%
8.31%
12.12%
22.25%
21.93%
EBT to Sales
9.11%
6.79%
7.40%
16.31%
19.51%
Liquidity Ratio
Stock turnover period (days)
63
41
40
95
Receivable turnover period (days)
22
54
58
77
77
Payable turnover period (days)
95
89
106
208
132
Cash Cycle Period (days)
(10)
20
(8)
Current Ratio (x)
1.15
0.41
0.45
0.99
(36)
1.08
(35)
Quick Ratio (x)
0.60
0.23
0.30
0.64
0.95
Cash Ratio (x)
0.39
0.01
0.06
0.29
0.47
0.91
Debt Management Ratio
Leverage Ratio/Debt to Equity (x)
1.01
2.05
2.34
1.75
Gearing Ratio (x)
0.33
0.22
0.40
0.62
0.27
3.07
4.15
10.65
Interest Coverage Ratio (x)
Debt Service Coverage Ratio (x)
48.47
#VALUE!
3.04
#VALUE!
1.34
2.97
1.34
Short Term Loan with FIs (000' taka)
587,093
3,505,000
1,323,050
Short Term Loan-others (000' taka)
100,000
Long Term Loan with Fis (000' taka)
1,085,904
3,189,545
1,853,910
Long Term Loan - others (000' taka)
880,000
660,000
440,000
220,000
Efficiency Ratio
Total Asset Turnover (x)
1.19
0.86
0.88
0.68
0.76
Fixed Asset Turnover (x)
1.93
1.14
1.19
1.15
1.19
Sales to working capital (x)
3.07
3.55
3.33
1.69
2.09
2.05%
1.52%
4.72%
5.94%
2.42%
Financial expenses to Sales (%)
Inventory Turnover (x)
Receivable Turnover (x)
Payable Turnover (x)
Operating Cycle (x)
5.83
8.87
9.13
3.85
18.13
16.48
6.70
6.30
4.73
4.75
3.85
4.10
3.45
1.75
(36.31)
55.87
(45.78)
(10.00)
2.76
(10.42)
Cash flow Indicator Ratio
Operating Cash flow to Sales
37.63%
-9.32%
24.22%
Operating Cash flow to Short term loans
509.35%
-29.11%
189.45%
21.75%
#DIV/0!
Dividend Payout Ratio
96.60%
59.74%
12.89%
21.05%
Growth Ratio
Sales Growth
24.28%
41.74%
-8.12%
-0.95%
Growth in Short Term Loan (other than CPLTD)
#DIV/0!
514.04%
-63.30%
-100.00%
Growth in Total Assets
70.67%
39.77%
17.78%
-10.61%
Growth in Current Assets
7.23%
51.35%
80.75%
-19.74%
Growth in Gross Fixed Assets
0.86%
126.50%
-0.62%
-0.32%
-24.68%
131.14%
121.80%
-45.08%
Growth in Non Current Liabilities
Sustainable Growth
0.61%
8.72%
26.25%
21.88%
Safety Margin
23.68%
33.02%
-34.37%
-22.83%
Investment Valuation Ratio
Book Value/Share (Taka)
12.86
12.58
13.38
18.02
Earning per Share (Taka)
3.37
2.69
4.98
7.49
6.21
26,890,767
18,221,433
15,231,305
16,894,361
Market Capitalization (000' Taka)
20.62
Financial Ratio 12
Khulna Power Company Limited
Statement Date (dd-mm-yyyy)
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
Audit Opinion
Analyst
Amounts in
BDT '000
12/31/2009
12/31/2010
12/31/2011
12/31/2012
12
12
12
12
12/31/2013
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
hman Rahman Huq man Rahman Huq man Rahman Huq Chowdhury & Co. Chowdhury & Co.
Qualified
Qualified
Qualified
Qualified
Qualified
d. Rakibul Hassan . Rakibul Hassan . Rakibul Hassan . Rakibul Hassan d. Rakibul Hassan
FINANCIAL RATIO
Price/Book Value Ratio (x)
8.91
4.73
2.76
2.38
Price/Earning Ratio (x)
41.73
12.71
6.65
7.90
Financial Ratio 13
Name of the Company
Statement Date
Khulna Power Company Limited
12/31/2009
Months Covered
Nature of Financial Statement
Status of Consolidation
Auditor
Audit Opinion
Analyst
12/31/2010
12/31/2011
12/31/2012
12/31/2013
12
12
12
12
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
ahman Rahman Huq ahman Rahman Huq ahman Rahman Huq si Chowdhury & Co. si Chowdhury & Co.
Qualified
Qualified
Qualified
Qualified
Qualified
Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan
COMMON SIZE INCOME STATEMENT
Net Sales Revenue / Turnover
100.00%
100.00%
100.00%
100.00%
100.00%
Opening Stock of Raw Materials
0.00%
0.00%
0.00%
0.00%
0.00%
Purchase of Raw Materials
0.00%
0.00%
0.00%
0.00%
0.00%
Less: Sale of Scrap / Adjustment
0.00%
0.00%
0.00%
0.00%
0.00%
Less: Closing Stock of Raw Materials
0.00%
0.00%
0.00%
0.00%
0.00%
Raw Materials Consumed
0.00%
0.00%
0.00%
0.00%
0.00%
Factory Wages, Salaries & Allowances
0.00%
0.00%
0.00%
0.00%
0.00%
Factory Utilities - Electricity, Gas, Fuel etc.
0.00%
0.00%
0.00%
0.00%
0.00%
Repair and Maintenance
0.00%
0.00%
0.00%
0.00%
0.00%
Depreciation : Manufacturing
0.00%
0.00%
0.00%
0.00%
0.00%
Amortization : Manufacturing
0.00%
0.00%
0.00%
0.00%
0.00%
Other Factory / Manufacturing Overheads
0.00%
0.00%
0.00%
0.00%
0.00%
Total Manufacturing Cost / Works Cost
0.00%
0.00%
0.00%
0.00%
0.00%
Opening Work-in-Progress
0.00%
0.00%
0.00%
0.00%
0.00%
Less: Closing Work-in-Progress
0.00%
0.00%
0.00%
0.00%
0.00%
Cost of Goods Manufactured / Production
0.00%
0.00%
0.00%
0.00%
0.00%
Opening Stock of Finished Goods
0.00%
0.00%
0.00%
0.00%
0.00%
Purchase of Finished Goods
0.00%
0.00%
0.00%
0.00%
0.00%
Cost of Goods Available for Sale
0.00%
0.00%
0.00%
0.00%
0.00%
Less: Closing Stock of Finished Goods
0.00%
0.00%
0.00%
0.00%
0.00%
Cost of Providing Services
89.44%
90.90%
86.10%
76.48%
77.18%
Cost of Goods Sold / Cost of Sales
89.44%
90.90%
86.10%
76.48%
77.18%
Gross Profit / (Loss)
10.56%
9.10%
13.90%
23.52%
22.82%
Other Operating Income
1.43%
0.00%
0.00%
0.01%
0.05%
Operating Expenses
1.00%
0.99%
1.17%
1.38%
2.01%
Salary - Administrative
0.21%
0.20%
0.14%
0.17%
0.19%
Salary & Commissions - Selling & Distribution
0.00%
0.00%
0.00%
0.00%
0.00%
Advertisement & Promotional Expenses
0.01%
0.01%
0.02%
0.01%
0.01%
Clearing & Forwarding Charges
0.01%
0.02%
0.01%
0.01%
0.02%
Bad Debt Expenses
0.00%
0.00%
0.00%
0.00%
0.00%
Depreciation : Non Manufacturing
0.03%
0.03%
0.02%
0.02%
0.01%
Amortization : Non Manufacturing
0.00%
0.00%
0.00%
0.00%
0.00%
Insurance Expenses
0.51%
0.22%
0.06%
0.37%
0.40%
Audit Fee
0.01%
0.01%
0.01%
0.01%
0.01%
Directors' Remuneration
0.00%
0.00%
0.00%
0.01%
0.01%
Other Operating Expense
0.23%
0.50%
0.91%
0.77%
1.36%
Operating Profit / (Loss)
10.98%
8.11%
12.73%
22.15%
20.86%
Non-Operating Income
0.18%
0.25%
0.08%
0.31%
1.15%
Interest Income
0.14%
0.25%
0.08%
0.31%
1.15%
Dividend Received
0.00%
0.00%
0.00%
0.00%
0.00%
Gain on Disposal of Non Current Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Exchange Gain
0.03%
0.00%
0.00%
0.00%
0.00%
Other Non-Operating Income
0.00%
0.00%
0.00%
0.00%
0.00%
Non-Operating Expenses
0.00%
0.05%
0.68%
0.21%
0.08%
Loss on Disposal of Non Current Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Exchange Loss
0.00%
0.05%
0.68%
0.21%
0.08%
Other Non-Operating Expenses
0.00%
0.00%
0.00%
0.00%
0.00%
Common Size Income Statement 14
Earnings Before Interest & Taxes - EBIT
11.16%
8.31%
12.12%
22.25%
21.93%
Financial Expenses
2.05%
#VALUE!
4.72%
5.94%
2.42%
Interest Expenses - Bank Loans & Advances
0.23%
0.24%
3.94%
5.36%
2.06%
Interest Expenses - Directors Loan
0.00%
#VALUE!
0.00%
0.00%
0.00%
Interest Expenses - Affiliated Concern
0.00%
0.00%
0.00%
0.00%
0.00%
Interest Expenses - Others
0.00%
0.00%
0.00%
0.00%
0.00%
Bank Charges, Commissions, Fees etc.
0.04%
0.03%
0.09%
0.06%
0.05%
Lease Rental - Operating Lease
0.00%
0.00%
0.00%
0.00%
0.00%
Other Financial Expenses
1.77%
1.25%
0.68%
0.52%
0.31%
Earnings Before Tax - EBT
9.11%
#VALUE!
7.40%
16.31%
19.51%
Provision For Tax
0.00%
0.00%
0.00%
0.26%
0.32%
Current Tax
0.00%
0.00%
0.00%
0.26%
0.32%
Deferred Tax
0.00%
0.00%
0.00%
0.00%
0.00%
Tax Holiday Reserve
0.00%
0.00%
0.00%
0.00%
0.00%
Others
0.00%
0.00%
0.00%
0.00%
0.00%
Net Profit After Tax - NPAT
9.11%
#VALUE!
7.40%
16.05%
19.19%
Common Size Income Statement 15
Khulna Power Company Limited
Statement Date (dd-mm-yyyy)
Amounts in
12/31/2009
Months Covered
12/31/2010
12
Nature of Financial Statement
Status of Consolidation
Auditor
12/31/2011
12
BDT '000
12/31/2012
12
12/31/2013
12
12
Audited
Audited
Audited
Audited
Audited
Company
Consolidated
Consolidated
Consolidated
Consolidated
ahman Rahman Huq ahman Rahman Huq ahman Rahman Huq si Chowdhury & Co. si Chowdhury & Co.
Audit Opinion
Qualified
Analyst
Qualified
Qualified
Qualified
Qualified
Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan Md. Rakibul Hassan
COMMON SIZE BALANCE SHEET
ASSETS
CURRENT ASSETS
Cash in Hand & Bank
13.00%
0.77%
3.48%
11.92%
15.93%
Fixed Deposits - Short Term
0.00%
0.00%
0.00%
0.00%
0.00%
Marketable Securities
0.00%
0.00%
0.00%
0.00%
0.00%
Account Receivables - Trade
7.19%
12.88%
13.86%
11.30%
15.80%
Receivable From Subsidiaries (CP)-Trade
0.00%
0.00%
0.04%
3.13%
0.15%
Investment - Short Term
0.00%
0.00%
0.00%
0.00%
0.00%
Investment in Associate / Subsidiary - Short Term
0.00%
0.00%
0.00%
0.00%
0.00%
Inventory
18.21%
8.85%
8.26%
13.57%
3.22%
Inventory: Raw Materials
0.00%
0.00%
0.00%
0.00%
0.00%
Inventory: Work in Progress
0.00%
0.00%
0.00%
0.00%
0.00%
Inventory: Finished Goods
0.00%
0.00%
0.00%
0.00%
0.00%
Inventory: Stock in Transit
0.00%
0.00%
0.00%
0.00%
0.00%
Inventory: Non-Trading
18.21%
8.85%
8.26%
13.57%
3.22%
Advances, Deposits & Prepayments
0.03%
1.62%
0.63%
0.24%
0.77%
Advance Income Tax
0.00%
0.00%
0.00%
0.00%
0.00%
Advance VAT
0.00%
0.00%
0.00%
0.00%
0.00%
Accrued Revenue
0.00%
0.00%
0.00%
0.00%
0.00%
Other Current Assets
0.23%
0.17%
0.04%
0.21%
0.37%
Total Current Assets
38.66%
24.29%
26.30%
40.37%
36.24%
95.69%
56.55%
91.64%
77.33%
86.22%
NON-CURRENT ASSETS
Fixed Assets other than leased assets
Land & Building
0.17%
0.11%
0.07%
0.06%
0.07%
Plant & Machinery
95.27%
56.29%
91.46%
77.17%
86.05%
Furniture & Fixture
0.02%
0.02%
0.01%
0.01%
0.01%
Office Equipment
0.10%
0.04%
0.03%
0.02%
0.03%
Motor Vehicles
0.10%
0.08%
0.06%
0.05%
0.05%
Other Non-Current Assets
0.01%
0.02%
0.01%
0.01%
0.01%
Leased Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Gross Fixed Assets
95.69%
56.55%
91.64%
77.33%
86.22%
Less: Accumulated Depreciation & Impairment
34.36%
21.95%
17.95%
17.70%
22.47%
Net Fixed Assets
61.34%
34.60%
73.70%
59.63%
63.76%
Intangible Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Less: Accumulated Amortization & Impairment
0.00%
0.00%
0.00%
0.00%
0.00%
Net Intangible Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Capital Work-in-Progress
0.00%
41.11%
0.00%
0.00%
0.00%
Investment - Long Term
0.00%
0.00%
0.00%
0.00%
0.00%
Investment in Associate / Subsidiary - Long Term
0.00%
0.00%
0.00%
0.00%
0.00%
Deferred Tax Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Other Non-Current Assets
0.00%
0.00%
0.00%
0.00%
0.00%
Total Non-Current Assets
61.34%
75.71%
73.70%
59.63%
63.76%
Total Assets
100.00%
100.00%
100.00%
100.00%
100.00%
Common Size Balance Sheet 16
Liability & Net Worth
CURRENT LIABILITIES
Overdraft / Cash Credit
0.00%
0.00%
0.00%
0.00%
0.00%
Short Term Bank Loan
0.00%
6.38%
27.25%
8.73%
0.00%
Long Term Loan - Current Maturity
0.00%
0.00%
2.78%
0.00%
9.23%
Finance Lease Obligations- Current Maturity
0.00%
0.00%
0.00%
0.00%
0.00%
Bonds / Debentures - Current Maturity
0.00%
0.00%
0.00%
0.00%
0.00%
Redeemable Preference Share - Current Maturity
4.08%
2.39%
1.71%
1.45%
1.62%
Loan From Associate / Subsidiary - Short Term
0.00%
0.00%
0.78%
0.00%
0.00%
Director's Loan - Short Term
0.00%
0.00%
0.00%
0.00%
0.00%
Accounts Payable / Creditors For Goods
27.56%
18.83%
21.62%
29.75%
21.05%
Payable to Subsidiaries (CP) -Trade
0.00%
0.32%
0.26%
0.08%
0.09%
Accrued Expenses / Creditors For Expenses
0.75%
0.19%
0.32%
0.16%
0.21%
Interest Payable
1.31%
0.69%
2.18%
0.36%
0.23%
Dividend Payable
0.00%
0.10%
0.07%
0.06%
0.08%
Income Taxes Payable
0.00%
0.00%
0.00%
0.17%
0.24%
VAT Payable
0.00%
0.00%
0.00%
0.15%
0.89%
Deposits / Advances Received
0.00%
0.00%
0.00%
0.00%
0.00%
Unearned Revenue
0.00%
0.00%
0.00%
0.00%
0.00%
Worker Profit Participation Fund
0.00%
0.00%
0.00%
0.00%
0.00%
Provident Fund
0.00%
0.00%
0.00%
0.00%
0.00%
Other Current Liabilities
0.00%
31.03%
1.04%
0.00%
0.00%
Total Current Liabilities
33.71%
59.92%
58.00%
40.90%
33.65%
Long Term Loan -Net of Current Maturity
0.00%
0.00%
8.44%
21.05%
13.69%
Finance Lease Obligations -Net of Current Mat.
0.00%
0.00%
0.00%
0.00%
0.00%
Bonds / Debentures -Net of Current Maturity
0.00%
0.00%
0.00%
0.00%
0.00%
Redeemable Preference Share -Net of Current Mat.
16.32%
7.17%
3.42%
1.45%
0.00%
Loan From Associate / Subsidiary - Long Term
0.00%
0.00%
0.00%
0.00%
0.00%
Director's Loan - Long Term
0.00%
0.00%
0.00%
0.00%
0.00%
Sub-Ordinated Loan
0.00%
0.00%
0.00%
0.00%
0.00%
Supplier's Credit - Long Term
0.00%
0.00%
0.00%
0.00%
0.00%
Deferred Tax Liability
0.00%
0.00%
0.00%
0.00%
0.00%
Other Non-Current Liabilities
0.20%
0.12%
0.20%
0.20%
0.26%
Total Non-Current Liabilities
16.52%
7.29%
12.06%
22.71%
13.95%
Total Liabilities
50.23%
67.21%
70.06%
63.61%
47.60%
Ordinary Share Capital / Paid Up Capital
38.69%
26.07%
22.38%
20.19%
25.41%
Irredeemable Preference Share
0.00%
0.00%
0.00%
0.00%
0.00%
Share Premium
0.00%
0.00%
0.00%
0.00%
0.00%
Share Money Deposit
0.00%
0.00%
0.00%
0.00%
0.00%
General Reserve
0.00%
0.00%
0.00%
0.00%
0.00%
Capital Reserve
0.00%
2.39%
1.71%
2.90%
2.05%
Tax Holiday Reserve
0.00%
0.00%
0.00%
0.00%
0.00%
Revaluation Reserve
0.00%
0.00%
0.00%
0.00%
0.00%
Other Reserves
0.00%
0.00%
0.00%
0.00%
0.00%
Retained Earnings
11.08%
4.30%
5.69%
12.93%
24.31%
Non-Controlling Interest / Minority Interest
0.00%
0.03%
0.16%
0.36%
0.64%
Total Equity
49.77%
32.79%
29.94%
36.39%
52.40%
Goodwill
0.00%
0.00%
0.00%
0.00%
0.00%
NON-CURRENT LIABILITIES
EQUITY
Common Size Balance Sheet 17
Preliminary Expenses
0.00%
0.00%
0.00%
0.00%
0.00%
Deferred Revenue Expenditure & Others
0.00%
0.00%
0.00%
0.00%
0.00%
Tangible Net Worth
49.77%
32.79%
29.94%
36.39%
52.40%
Total Liability & Net Worth
100.00%
100.00%
100.00%
100.00%
100.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Mismatch
Common Size Balance Sheet 18
USER GUIDE
Please give input to the income statement first.
Step # 1
For a service concern, please give input to the cell of cost of providing services. This cell
would be blank for a manufacturing concern.
Net profit after tax for a particular year will be automatically transferred to SOCE.
Please give input to the Statement of Changes in Equity (SOCE).
Step # 2
Please give input to the opening balance of retained earnings for the first year only. In the
subsequent year, it would not be needed.
Closing balance of retained earnings will be automatically transferred to Balance Sheet.
Step # 3 Please give input to the Balance Sheet.
You can give input only the numbers in green in Income Statement, Statement of Changes
in Equity & Balance Sheet. Other calculations will be automatic.
To have an optimum result, please give input at least 3 years financials. However,
maximum is 05 years.
Insert all figures in nearest thousands ('000) with no decimal if not instructed otherwise.
For example, if a figure is 1,50,651; you will insert 151.
General
All account heads are standardized and to be followed as set out here. Any account not
found here, should be included under appropriate "Other" head. For instance: Other
Current Assets, Other Current Liability etc.
If interim financials are used, some ratio need to be annualized manually. Profitability ratio
on assets and equity; activity ratios; and growth ratio need to be annualized to compare
with output of full year financials.
