A N N U A L

R E P O R T

2012

A N N U A L

R E P O R T

2 0 1 2

Corporate office:
Tanaka Tower (2nd floor)
42/1/Gha, Segun Bagicha, Dhaka-1000
Tel: 088-02-9572001, 9570574 Fax: 088-02-9550040

www.afchem.com

ANNUAL REPORT 2012

Table of Contents
Page No.
Transmittal Letter

Notice of the 8th Annual General Meeting

Our Vision

Our Mission

Our Objectives

Company at a Glance

Corporate Directory

Financial Highlights at a Glance

Introduction the Directors

Message from Chairman

11

Message from Managing Director

12

Report of the Board of Directors to the Shareholders

13

Corporate Governance Report

20

Auditors Report & Audited Financial Statements

30

Proxy Form

56

Attendance Slip

56

Active Fine Chemicals Ltd

Annual Report 2012

For the year ended 31st December, 201 2

As at 31st December, 2012

Notes

ASSETS:

AMOUNT (IN TAKA)

31.12.2012
31.12.2011

Particulars

Notes

AMOUNT (IN TAKA)

2012
Non-Current Assets:
Property, Plant and Equipments at Carrying Value

Intangible Assets:

786,307,557

548,225,410

54,976,199

79,227,434

Unallocated Revenue Expenditure

12,556,979

25,113,958

Product Development Cost

26,504,572

22,284,180

IPO Expenses

15,914,648

31,829,296

Investment

77,200,000

37,200,000
236,785,737

7
8
9
10

407,325,015
247,700,635
30,866,487
122,299,327
6,458,566

1,325,808,771

901,438,581

Current Assets:
Inventories
Advances, Deposits and Prepayments
Accounts Receivable
Cash and Cash Equivalents
TOTAL ASSETS

Net Turnover

22

Cost of Goods Sold

23

720,519,189
(371,286,905)

349,232,284

Gross Profit

Operating Expenses

54,446,444
4,590,624

11
12
13
14

Non-Current Liabilities:
Deferred TaxLiability
Long Term Loan
Current Liabilities:
Short term Loans
Liabilities for Finance Lease
Provision for Current Tax
Liabilities for Expense & Services
Liabilities for Other Finance
TOTAL SHARE HOLDERS' EQUITY AND LIABILITIES

958,063,308
552,000,000
179,598,505

98,334,296

111,282,013
115,182,790

112,315,900
64,611,459

15
16

25,362,843
10,960,343
14,402,500

1,967,912
1,967,912

17
18
19
20
21

342,382,620
233,292,868
404,593
41,689,808
42,117,780
24,877,571

164,209,013
119,553,644
1,107,282
13,538,216
18,129,584
11,880,287

1,325,808,771

901,438,581

(41,722,016)

Selling & Distribution Expenses

25

(14,442,564)

(11,462,322)

279,134,215
(26,277,563)

620,907

Gain on Disposal of Land

19,465,400

Net Profit before WPPF

272,942,959
(12,997,284)

165,079,387
(13,318,742)
670,962

152,431,607
(7,258,648)

Net Profit Before Tax

259,945,675

145,172,959

Income Tax Expenses

(37,144,023)

(11,654,897)

Provision for Current Tax

(28,151,592)

(9,686,985)

Provision for Deferred Tax

(8,992,431)

(1,967,912)

Net Profit After Tax

(70,098,069)

(30,259,694)

Other Income

735,261,655
460,000,000

206,801,403

(55,655,505)

Allocation for WPPF

Shareholders' Equity :
Share Capital
Retained Earnings
Revaluation Surplus
TaxHoliday Reserve

(235,839,447)

24

Finance Cost

SHAREHOLDERS' EQUITY & LIABILITIES:

442,640,850

Administrative Expenses
Profit from Operation

144,744,695
33,003,974

2011

(Transferred to Statement of Changes in Equity)

Earnings per share from normal operation (Restated):

222,801,652
222,801,652

133,518,062
133,518,062

3.68

2.42

4.04

2.42

Earnings per share including extra-ordinary

26

income i.e gain on disposal of land

The annexed notes form an integral part of these financial statements.

The annexed notes form an integral part of these financial statements.

Md. Zia Uddin

Chairman

S.M. Saifur Rahman

Managing Director

Prodip Roy
Head of Finance & Company Secretary

Md. Zia Uddin

Chairman

S.M. Saifur Rahman

Managing Director

Prodip Roy
Head of Finance & Company Secretary

Subject to our separate report of even date.

Subject to our separate report of even date.
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Dhaka, March 11, 2013

Active Fine Chemicals Ltd

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Khan Wahab Shaflque Rahman & Co.

Chartered Accountants
Annual Report 2012

Dhaka, March 11, 2013

Annual Report 2012

>Avviova. /

Khan Wahab Shaflque Rahman & Co.

Chartered Accountants

Active Fine Chemicals Ltd