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