Aramit Cement 2013

aramit cement limited
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02 Company profile
04 Notice of the 18th Annual General Meeting
05 Board of Directors
06 Diretors Report
10 Annexure I &ll
Annexure Ill
12 Annexure IV
13 Ann exu re - A
9 Directors' Report (Bangla)
22 Value added Statement
22 Elements of Total Cost
23 . Corporate Governance Report
24 Certificate on compliance
25 Report of the Audit Committee
26 Statement of CFO &CEO on Financial Statements
27 r Auditors Report
28 Statement of Financial Position
29 Statement of Comprehensive Income
30 Statement of Cash Flows
31 Reconciliation of Cash Flow From Operationg Activities
32 Statement of Changes in Equity
33 Notes to The Financial Statements
51 Proxy Form
COMPANY
HISTORICAL HIGHLIGHTS
].Year of Establishment
1995
2.Technical Collaboration
1995
Agreement with CAMC, China
3.Trial Production 18 August1999
4. Commercial Production 10 November 1 999
REGISTERED OFFICE & FACTORY
53 Kalurghat Heavy Industrial Estate,
PO: Mohara, Chittagong -4208, Bangladesh.
Tel: (88 031) 2570986,670473,671950,670368
Fax: (88 031)671583
E-mail:acl@aramitgroup.com
Web www.aramitgroup.com
SHARE OFFICE
Rangpur House (5th Floor), House 62, Flat 105
Road 3, Block B, Niketan, Gulshan-1
Dhaka-1 212, Bangladesh.
Tel: 9881095,9887176, Fax: (88 02) 9851551
E-mail :shares@aramitgroup.com
BANKERS
National Credit and Commerce Bank Limited
Khatungonj Branch, Chittagong.
State Bank of India
CSE Building, 1080 Sk.Mujib Road
Agrabad CIA, Chittagong.
Jamuna Bank Limited
Agrabad Branch, Chittagong.
Sonali Bank Limited
Kalurghat I/A Branch, Chittagong.
FINANCIAL HIGHLIGHTS
Tk 500.00 Million
Tk 169.40 Million
1 Authorised Capital
2. Paid-up Capital
3. Quoted Price per Share
DSE-30.1 2.2013 Tk
CSE-30.1 2.2013 Tk
DSE-1 1.03.2014Tk
CSE-11.03.2014 Tk
Tk 84.30
Tk 85.50
Tk60.40
Tk61.10
SHARE HOLDING POSITION (31.12.2013)

Number of
Shares
Taka
12
3238
7,260,000
9,680,000
72,600,000
96,800,000
3250
16,940,000
169,400,000
Number of
Shareholders
Sponsors
Institutions & General Public
Management Ratios
2012
2013
Standard Bank Limited

Khatungonj Branch, Chittagong.
A) Liquidity & Solvency Ratios
Janata Bank Limited

Corporate Branch,
Sk. Mujib Road, Agrabad, Chittagong.
1. Current ratio
0.67:1.00
0.68:1.00
2. Acid test ratio
0.60:1.00
0.58:1.00
AB Bank Limited
Bahaddarhat Branch, Chittagong.
B) Operating Ratios
Bank Asia Limited

Agrabad Branch, Chittagong.
1. Cost of sales to sales
77.63
80.53
2. Operating expenses to sales
6.30
4.67
22.37
19.47
2. Net profit before income tax to sales %
6.21
6.39
3. Net profit after income tax to sales
4.99
4.65
Taka
2.56
3.03
1. Inventory turnover ratio
Times
5.84
6.74
2. Inventory holding period
Month
2.06
1.78
United Commercial Bank Limited

Bahaddarhat Branch, Chittagong.
Social Islami Bank Limited
Jubilee Road Branch, Chittagong.
First Security lslami Bank Limited
Ajrabad Branch, Chittagong.
INSURANCE
Karnaphuli Insurance Company Limited
Suraiya Mansion, 30 Agrabad C/A,Chittagong.
Reliance Insurance Ltd.
175 jubilee Road, Chittagong.
Janata Insurance Co. Ltd.
Aktaruzzaman Center, Agrabad,Chittagong.
AUDITORS
MRH Dey & Co. Chartered Accountants
R. B. Court (Ground floor)
54 Agrabad C/A, Chittagong.
C) Profitability Ratios
1. Gross profit to sales
4. Earning Profit per share (Basic)

D) Activity Ratios
Human Resources
Executive :38 Staff :56 Worker :53 Total :147
17TH ANNUAL GENERAL MEETING
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Notice is hereby given that the 18th ANNUAL GENERAL MEETING of Aramit Cement Limited will be held on
Thursday, 10 April 2014 at 12:00 noon at Hotel Saint Martin Limited, 25 Sheikh Mujib Road, Chittagong to
transact the following business
AGENDA
01.To receive, consider and adopt the Directors Report, Audited Financial Statements and Auditor's Report
thereon for the year ended 31 December 2013.
2.
To declare Dividend for the year 2013.
3.
To elect Directors.
4.
To appoint Auditors for the year 2014 and to fix their remuneration.
5.
To transact any other business with the permission of the Chair.

By Order of the Board
/4^
Chittagong
15 March, 2014
(Muhammed Shah Alam, FCMA)

Chief Financial Officer
&
Company Secretary
NOTES:
I) The Shareholders whose names will appear in the Share Register of the Company or in the Depository
Register on Record date i.e. 20.03.2014 will be entitled to attend the Annual General Meeting and to
receive the dividend.
ii) A Member entitled to attend and vote at the Annual General Meeting may appoint a proxy to attend and
vote in his/her stead. The proxy form, duly stamped, must be deposited at the Registered Office of the
Company not later than 48 hours before the time fixed for the meeting.
iii) Members are requested to notify change of address, if any, to the Company.
iv) In pursuance of SEC's Notification NO. SEC/SRMI/2000-953/1 950 dated 24 October 2000 gazetted on 07
November 2000, the Company shall hold discussions in Annual General Meeting strictly in conformity with
the provisions of relevant clauses of Companies Act, 1994 and no benefit in cash or kind, other than in the
form of cash dividend or stock dividend, shall be paid to the holders of equity securities.
v) For the sake of convenience, shareholders are requested to submit their queries on the Directors' Report
and the Audited Financial Statements for the year 2013, if any, at the Registered Office of the Company
preferably 3 days before the day of the Annual General Meeting.
vi) Admission to the Meeting Hall will be strictly on production of attendance slip sent with the Annual
Report.
OF
4.
BOARD OF DIRECOTRS 2013
Nw^
-,
Chairman
Ms. Rukhmila Zaman
Managing Director (CEO)

Mr. Saifuzzaman Chowdhury
Rashid Building
160 Strand Road
Chittagong.
Director
Ms. Dian Ahsn
Deputy Managing Director
Bangladesh Development Bank Limited
Dhaka,
Aramit Cement Limited

Chittagong.
Director
Mr. Nasir Uddin Ahmed
General Manager
Investment Corporation of Bangladesh
Dhaka.
ri
n-n;^
Director
Mr. S. M.Jamal Ahmed
Director
Mr. Monoranjan Chakma
Deputy General Manager
Chittagong.
r/
/-;/,-,Y,
Jiban Bima Bhaban (3rd Floor)

56, Agrabad C/A, Chittagong.
Independent Director
Mr. Md.Towhidul Anowar
Mr. S. M. Rezaur Rahman
Managing Director
Sofsys Computing & Data Processing Ltd.
Motijheel C/A, Dhaka.

&

Company Secretary
Mr. Muhammed Shah Alam, FCMA
Assistant Managing Director

Karnaphuli Insurance Company Ltd.
Chittagong.
DIRECTORS' REPORT
for the year ended 31 December 2013
Bismilla-hir-Rahmanir Rahim
Honorable Shareholders
181h
It gives me immense pleasure to welcome you all on behalf of the Board of Directors to the
Annual General
Meeting of the Company. Now I would formally present before you the Directors' Report, Audited Financial
Statements prepared in accordance with BAS and Auditors' Report thereon for the year ended 31 December
2013 for your kind consideration and approval.
Preface
Your Company has completed another successful year of commercial operation. During the period, the Company
sold out its product "Camel Brand Cement" both in local market and export to India. Management of the
Company made tremendous effort to popularize the Brand both in local and export market overcoming all
setbacks and unstable conditions prevailing there.
On the other hand, price of clinker and other materials has gone up a little bit in the international market as
compared to last year raw materials prices as against the constant selling price as that of last year. Moreover the
production and sales of Cement was hampered seriously due to constant blockade, strike and unhealthy situation
in the country during last three months of the year 2013. As a result sales volume was much lower in the year
2013 as compared to last year which affected our financial performance very seriously and the net profit earned
(after tax) in the year 2013 is BDT4,34,41,931.00.
Production
During the year your Company was able to produce a total of 1,38,784 metric tons of cement which was
66.09% of installed capacity as against 1,78,615 metric tons in 2012. In fact, production largely depends on
demand and it could have been increased if pleasant situation prevailed in the country. However, achievement of
production is not up to the mark in respect of capacity of machinery and present requirement of local market.
Productions of the last five years have been summarized in the following table:
Comparative Statement of Production
210,000
138,784
66.09%
Installed Capacit y (in metric Ions)

Actual Production (in metric tons)
Capacity utilization (in %)
210,000
210,000

179,485
178,615
85.05%
85.47%
210,000
171,210
81.53%
210,000
162,445
77.35%
It appears from the above that production of cement has been increasing gradually from the year 2009 to 2011
and decreased in the year 2012 and 2013 which affected gradual improvement of production performance of the
Company. The production would have been more as compared to the last year if there was no strike and unrest
in the country at the end of 2013.
Sales
During the year under review total sales comes to 1,38,784 metric tons of cement as against 1,78,615
metric tons in 2012. Accordingly, net turnover in 2013 stands at Tk. 871.41 million against Tk. 1,102.10 million in
2012. Sales activities were accomplished through dealers and large number of non-dealers throughout the
country during the year under review. Moreover, the Company exported 25,895 metric tons of cement to India
during the year against 36,935 metric tons in last year.
Financial Performance
Financial performance of the Company during the year 2013 along with previous years are briefly summarized
below:
Financial Results
Net sales
871 40S,1 86
1,102,097,948
978,193,221
917,633,478
843,836,356
Gross profit
194,924,637
214,589,039
187,975,236
209,195,823
194,767,412
Trading profit
139,997,428
163,160,372
138,324,882
169,079,386
163,092,343
Profit before income tax
54,078,352
70,379,269
71,566,830
110,260,277
103,377,053
Provision for income tax
10,636,421
19,126,683
20,793,600
30,904,822
42,691,800
Profit after income tax
43,441,931
51,252,586
50,773,230
79,355,455
60,685,253
Proposed dividend
16,940,000
16,940,000
15,400,000
14,000,000
16,800,000
It can be observed that in the year 2013 net profit after income tax stood at Tk 4,34,41 931 .00 against
last year net profit after income tax of Tk.5,12,52,586.00. In fact political unrest at the end of the year
2013 hampered the profitability of the Company to the extreme level.
Management Discussion
The Board of Directors in every quarter discusses about Cost of Goods sold, Gross Profit Margin, Net
Profit Margin and takes necessary steps in time. A report on management discussion and analysis is
included in annexure -1.
Risk factors and concerns
The Board has established a risk and control structure designed to manage the achievement of
business objectives. A summary of the most significant risks is included in annexure-2.
Credit Rating
Credit Rating Information and Services Limited (CRISL) assigned rating as below:
A
Outlook
ST-3
Stable
Contribution to the National Exchequer

The Company contributed an amount of Tk18,15,58,586.00to the National Exchequer in the form of
Customs Duty, Value Added Tax (VAT) and Advance Income Tax during the year under review.
Contributions to the national exchequer made under various heads during the last five years have
been mentioned below:
Contribution to the National Exchequer
Value Added Tax

Duties - at Import Stage
118,343,568
24,626,444
154,995,289
51,686,919
146,756,111
34,945,300
145,353,072
46,190,904
128,785,590
48,851,621
Advance Income Tax

Adjustable/Refundable
Total
38,588,574
47,947,274
33,383,336
23,141,030
14,398,091
181,558,586 254,629,482 215,084,747 214,685,006
192,035,302
Training
Officers, workers and employees of different categories were given scopes for participating in various
training courses, workshops and seminars to improve their efficiency and productivity during the year
under review. In-house training programs are also arranged regularly.
Environmental aspect
Honest efforts are being made to keep the surrounding environment pollution free and accordingly
factory premises are always kept clean and hygienic. Disposal of waste are supervised carefully and
plantation of trees are carried out in and around the factory premises regularly.
Rotation of Directors
As per clause 100(a) and 100(c) of the Articles of Association of the Company, one third of the
Directors retire by rotation in every Annual General Meeting. In this Annual General Meeting,
Directors namely, Mr. Nasir Uddin Ahamed and Ms. Dina Ahsan will retire and eligible for reelection.
Appointment of Independent Director
As per BSEC Notification No. BSEC/CMRRCD/2006-158/134/Admin/44 dated 07 August 2012 on
corporate governance, the Board nominated Mr. S. M. Rezaur Rahman and Mr. Md. Towhidul Anowar
as Independent Director of the Company for one term of 3 years considering their qualification and
expertise in compliance with BSEC's notification subject to the approval of shareholders in the 17th
Annual General Meeting.
--_
Directors' Remuneration
The Chief Executive Officer is paid remuneration as approved by the Board of Directors and subsequently by
the Shareholders in Annual General Meeting (AGM). Other than this, all directors including Independent
Director are paid attendance fee for each meeting of Board of Directors actually attended by them.
Appointment of Auditors
The existing auditors of the Company M/s MRH Dey & Co., Chartered Accountants will retire at this
meeting. They have submitted a written request for re-appointment as auditors of the Company for the year
2014 as per provision of Section 210(1) of the Companies Act, 1994. In the meantime they have completed
2 (Two) year auditing activities of the Company till 31 December 2013. They are eligible for re-appointment
as auditor for 2014. If any other proposal of Chartered Accountants firms are received within the stipulated
time will be placed in the 18th Annual General Meeting. The honorable shareholders will decide for appointment
of auditor for 2014.
Dividend
You are well aware that the Company paid 10% Cash dividend out of the profit for the year 2012 to the
honorable Shareholders. During the year under report, the Board of Directors has recommended Cash dividend
@ 10 % for the year ended 31 December 2013. The amount of cash dividend will stand at Tk.
1,69,40,000 (Taka One Crore Sixty Nine Lac Forty Thousand).
Discussion on continuity of any Extra-Ordinary gain or loss

There was no extra-ordinary gain or loss during the year 2013.
Related Party Transaction

Basis of the related party transactions with the company has been elaborated in the audited financial
statements under in note no. 35 in accordance with relevant Bangladesh Accounting Standards (BAS).
Utilization of IPO proceeds and financial results after IPO

Company had no unutilized IPO fund after going IPO.
Significant variance between quarterly and annual financial performance

There were no significant difference between quarterly performance and overall annual performance.
Throughout the year Company was able to maintain a judicious performance both in operational and financial
perspective.
Outlook and possible future development

It may be pointed out that the prices of raw materials have gone up slightly and the political environment is
very unhappy. Considering the present political unrest if infrastructural Development in the country gear up and
the demand of cement if increased, the Company will take necessary plan to boost up produce and sales of
cement this year by way of full fledged production.
In order to cope up with the demand of our production the management made a plan of expansion of
existing plant going by the name as Unit-2' having a capacity of production of 1,000 M Ton per day. The
construction of which is now at the fag end of completion and it is expected to go into operation from the month
of April 2014. By the grace of Almighty Allah, we can reach our goal shaped by expectation and
potentialities. Facing the challenge, the year 2014 will definitely be an exciting year for us. Our mission and
vision is to develop a strong growth momentum in coming year with a target of occupying a fair share in the
cement market both at home and abroad. We shall also be more focus on customer care through
innovation product and services as well as through optimization of its sales with low project margin
maintaining the standard quality. Let the year 2014 be a source of our unparallel success.
Corporate Governance
In recent times, the issue of Corporate Governance practice has assumed paramount importance as it paves
the way for efficient management of a company through making it accountable and transparent to the
shareholders and the nation as well. In view of this, the Securities and Exchange Commission has
issued a number of guidelines that are required to be disclosed to the shareholders and accordingly the
status report of such conditions have been summarized in the "Annexure - A" as per the SEC Notification
No. SEC/CMRRCD/2006-1 58/1 34IAdminI44 dated 07 August 2012.
Welfare activities extended to employees

1. Picnic: The management, officers, staff and workers of the Company are enjoying picnic once in every
year. Annual cultural program is held at the picnic spot.
2. Haj program: One person from the permanent employees of the group is sent to perform Holly Haj once
in every year by selection through lottery at the cost of the Company.
Corporate Social Responsibility

1. Blood donation: The management organizes blood donation campaign jointly with "Sandhani" once
in a year. The managers, officers, staff and workers of the Company donate blood to the
"Sandhani" in factory premises.
2. Relief distribution: As the part of Corporate Social Responsibility, the Company distributed blankets
and warm cloths in winter season to the distressed people. In rainy season relief is also distributed
to the flood affected people of various areas of the country.
Subsequent Events
There were no subsequent events between the balance sheet date and the date of this report which
could have significant impact on the financial results of the Company.
Directors' responsibilities statement
Pursuant to the Commission's Notification No
August 2012 the Directors confirm that:
SEC!CMRRCDI2006-15811291Admin144 dated 07
The financial statements prepared by the management of Aramit Cement Limited fairly presents
its state of affairs, the result of its operations, cash flows and changes in equity.
b) Proper books of account of the Company have been maintained.
c) Appropriate accounting policies have been consistently applied in preparation of the financial
statements and that the accounting estimates are based on reasonable and prudent judgment.
d) International Accounting Standards ([AS) I Bangladesh Accounting Standards (BAS)
International Financial Reporting Standards (IFRS), as applicable in Bangladesh, have been
followed in preparation of the financial statements and any departure there-from has been
adequately disclosed.
e) The system of internal control is sound in design and has been effectively implemented and
monitored.
f) There are no doubts upon the Company's ability to continue as a going concern and the annual
accounts have been prepared on going concern basis.
g) The significant deviations from last year in the operating results of the Company have been
highlighted in the report and reasons thereof have been explained.
h) The number of Board Meetings held during the year and attendance by each director is disclosed
in "Annuxure-11".
I) The pattern of shareholding is disclosed in "Annexure-IV".
j) A compliance status report with requirements of corporate governance as required by
Commission is disclosed in Corporate Governance Report and its annexure.
a)
Conclusion
In conclusion, the Board of Directors would like to express their gratitude for valuable assistance and
support extended to the Company by the various Government and Non-Government Agencies such
as Financial Institutions like Investment Corporation of Bangladesh, Sadharan Bima Corporation,
Bangladesh Development Bank Ltd., Bangladesh General Insurance Company Limited, Karnaphuli
Insurance Company Limited, Aramit Limited, other related organizations, Government Authority,
Auditors, Securities and Exchange Commission, Dhaka Stock Exchange Ltd., Chittagong Stock
Exchange Ltd., Central Depository Bangladesh Limited. The Board also expresses their heartiest
gratitude to Utility provider and all the valued Shareholders of the Company for their investment in the
Company.
The Board of Directors would also like to express their special thanks to all grades of employees of
the Company for their dedicated service.
We place on record our appreciation to the dealers, customers and suppliers for their contribution to
the success of the Company.
Allah Hafez.
On behalf of the Board
'2,^^
S.M. Jamal Ahmed

Chairman
Chittagong, 10 March, 2014
ANNEXURE - I
Management Discussion and analysis
Management discussion and analysis are stated below in detail to provide the readers with an
overview of the operational results.
Financial Performance
2013
Taka
2012
Taka
Cost of Goods Sold
676,480,459
887,508,909
Gross Profit
194,924,637
214,589,039
43,441,931
51,252,586
Particulars
Net Profit
Cost of Goods Sold

Cost of goods sold means cost of products which was sold during the year. Cost of goods sold
contain all the costs directly related with finished goods for sale i.e raw materials including all duties
and taxes, carrying, handling and other costs. Cost of goods sold differs with production and sales.
Cost of goods sold in 2013 has decreased by 23.77% as compared to 2012.
Gross profit to sales
Gross profit is the difference between sales and cost of goods sold. The gross profit margin is one
indicator of the financial health of a business. Larger gross profit are better for business. During the
year 2013 gross profit to sales is 22.37% and gross profit has decreased by 9.16% against 2012.
Net profit to sales
Net profit is the difference between gross profit and subtracting expenses including tax and WPPF. Its
showing what the business has earned or loss during the period. During the year 2013 net profit to
sales is 4.99% and net profit has decreased by 15.24% against 2012.
ANN EXU RE-Il
Number of Board and Audit Committee Meeting for the year 2013
Audit Committee
Meeting
No of
No of
No of
No. of
meeting meeting meeting meeting
held
attended
held
attended
Board Meeting
hinm p nf th p fl.rp ctnrs
Pnsif,nn
rector
)irector
)irector
ANNEXURE-Ill
Risk factors and concerns
Foreign Currency Risk: As AOL is dependent on import for clinker and few other key raw materials, it is
exposed to volatility of exchange rate of Taka against Dollar. Recently, the exchange rate of US Dollar is
relatively volatile and therefore the concern needs to pay comparatively higher price for import which may affect
AOL's profitability.
Interest Rate Risk: The company has significant bank fund dependency for working capital management and
pays a significant amount of bank interest and charges. Bangladesh Bank has removed the interest rate ceiling
(excepting certain sectors) on lending in the wake of a massive liquidity crisis in the financial market. This
measure has already invited interest rate instability which has created volatility in the profitability of corporate
houses like AOL, although in the recent past this was somewhat stable.
Operational Risk:
The project of the company is situated at a high land where less amount of flood is
recorded. The factory building has well-built foundation to withstand fire, wind, storm, rain etc. along with good
drainage facility. AOL gets required power from its sister concern namely Aramit Power Limited which generates
4.08 MW electricity. However, gas supplied by Karnafully Gas Distribution Company Ltd. is adequate for current
requirement but it may face problem if any expansion is further needed. On the contrary, AOL has already
developed its human resource base for in-house servicing of plant and machinery. It also does not possess any
major technological risk in near future and there's a little possibility of invention of new and more cost effective
technology in the long run which may cause functional obsolescence of existing plant.
Raw Material Supply Risk: Clinker, slag, fly ash and gypsum are the main raw material for producing
cement. The company does not have any raw material supply agreement with any supplier; however that has not
been a problem since commencement of production due to long standing good relationship with the suppliers. In
general, the company maintains adequate stock of raw materials (mainly clinker) to ensure smooth production.
So far, the company faced no noticeable crisis in arranging the supply need.
Market Risk: There are some multinational giants who produce a huge quantity of cement and their marketing
policy is stronger than local companies. Aramit Cement Limited has taken initiative to increase the production
capacity. However, the cement industry is dependent on growth of development and construction of the whole
economy. Market demand in Chittagong region is estimated to be 2,000,000 MT/ annum. Existing producers are
almost capable to meet this demand consequently there is insubstantial supply gap in the market. Under the
above backdrop, Aramit Cement Limited needs firm concentration on ensuring quality in addition to extensive
advertising and promotional effort to ensure profitable sustainability in the market.
Compliance Risk:
Cement manufacturing has an impact on the surrounding environment. Cement

manufacturing consumes large quantities of non-renewable raw materials (minerals and fossil fuels). It is also an
important source of 002 emissions. It deserves mention here that the company is yet to install Air Pollution
Controller (APO) in order to comply with environmental code. Mixing Ratio of two types of Cement manufactured
by the company is as follows:
Types
Portland Composite Cement (POC)
Ordinary Portland Cement (0 PC)
Clinker
Lime Stone & Slag
Gypsum
65-72
97
21 -35
Nil
0-5
3
Quality Control Risk: Quality indicators of cement produced by the company have been found to be
consistent with the standard. BUET made a test of some quality indicators for Aramit Cement Limited (say for
example, PSI) that revealed an outstanding value compared to the standard. Details' regarding PSI weigh against
standard is outlined below:
Tested and Standard PSI
3 days
PSI
Duration
7 days
PSI
28 days
PSI
Tested by BU ET for ACL

Standard of American Society for Testing of Materials (ASTM)
2,480
1,890
4,070
2,900
5,550
3,820
From the above comparison, it can be concluded that the company's product complied all requisites
regarding excellence.
The management of the Company is trying its level best to overcome the above risk factors as far as
practicable for achieving better results in future.
ANNEXURE-IV
Pattern of Share Holding as on 31 December 2013
Shares held by
Parent Company
Aramit Limited
Bangladesh Development Bank Ltd.

Chief Executive Officer and his spouse and
minor children: Mr. Saifuzzaman
Chowdhury
Mr. S. M. Aftab Ali Khan
Mr. Abu] Khair Khan
Mr. Warisuzzaman Chowdhury
Mr. Abdus Samad
Mr. Moslem Uddin Ahmed
Mr. Abdur Rahman Khan
Mr. Siraj Uddin Chowdhury
Mr. N. I. Chowdhury
Company Secretary and his spouse and
minor children
Chief Financial Officer and his spouse and
minor children
Head of Internal Audit and his spouse and
minor children
Executives (Top five salaried persons other
than CEO,CS,CFO,HIA):
1. Mr. Subash Chandra Karmaker, GM
(Operation)
2. Mr. Prasanta Chakroborty, Manager
(Electrical)
3. Mr. BHM Salahuddin, Manager
(Production)
4. Mr. Md. Kobbad Chowdhury, Manager
(Quality)
5. Mr. Golam Kibria, Manager (Sales)
Shareholders holding ten percent (10%) or
more voting interest in the company
General Public:
Institutions -
Others -
Total
Number of Percentage
of
Shares
holding
held
-
Remarks
The company is not

subsidiary of any
Company
Represented by Mr. Saifuzzaman
19.286% Chowdhury
Mr. S. M. Jamal Ahmed
Ms. Rukhmila Zaman
-
3,267,000
847,000
5.000% Repsenented by Ms. Dina Ahsan
605,000
Represented by 3.571% Mr. Nasir Uddin Ahmed

Mr. Monoranjan
Chakma
2,531,320
1,210
1,210
1,210
1,210
1,210
1,210
1,210
1,210
-
14.943%
00.007% Sponsor
00.007% Sponsor
00.007% Sponsor
00.007% Sponsor
00.007% Sponsor
00.007% Sponsor
00.007% Sponsor
00.007% Sponsor
-
4,248,299
5,431,701
16,940,000
25.079%
32.065%
100.000%
Report of the status of compliance of corporate governance Annexure - A

Status of compliance with conditions imposed by the Commission s Notification No BSECICMRRCDI2006158/129/Admin/44 dated 07 August 2012 issued under section 2CC of the Securities and Exchange
Ordinance, 1969:
Compliance Status
(Put in the appropriate
Remarks
Condition
column)
Title
(if any)
No
Complied
Not
Complied
BOARD OF DIRECTORS
I
Complied
1.1
Board Size
1.2
Independent Directors
Complied
Number of Independent Director
1.2(i)
Complied
Shareholding by Independent Director
I .2(ii)(a)
Complied
I .2(ii)(b) Family Relationship with Independent Director
Complied
I .2(ii)(c) Other relationship with Independent Director
1 .2(ii)(d) Membership of Independent Director with Stock Complied
Exchanges
I .2(ii)(e) Shareholding, Directorship or employment of
Independent Director with any Stock Exchanges Complied
or Capital Market Intermediaries
Association of Independent Director with audit Complied
1 .2(ii)(i)
firm (Currently or preceding 3 years)
1.2(ii)(g) Independent Director holding same position in Complied
more than 3 listed companies
Complied
I .2(ii)(h) Bankruptcy of Independent Director
Criminal Offence involving moral turpitude of Complied
I .2(ii)(i)
I'
Independent Direct
Appointment and Approval of Independent Complied
1.2(iii)
Director by BOD and AGM
Vacancy of post of Independent Director for not Complied
I .2(iv)
more than 90 days
1.2(v)
The Board shall lay down a Code of Conduct of
all Board Members and Annual compliance of Complied
the code to be recorded
I .2(vi)
The tenure of office of an independent Director
shall be for a period of 3 (three) years, which Complied
may be extended for (one) term only
Qualification of Independent Director
1.3
independent Director shall be a knowledgeable
1.3(i)
individual with integrity who is able to ensure
compliance with financial, regulatory and Complied
corporate laws and can make meaningful
contribution to business
Academic Background and Experiences of Complied
I .3(u)
Exemption of requirement of qualification and
I .3(iii)
experiences Independent Director by the Coniplied
commission
The positions of the Chairman of the Board and
1.4
Chief Executive Officer of the company shall be Complied
filled by different individuals.
The Directors' Report to Shareholders

and
possible
Industry
outlook
future Complied
developments iii the industry
Complied
1.5(u)
Segment wise or product-wise performance
Complied
1.5(ill)

Risks
and
concerns
A discussion on Cost of Goods sold, Gross

I 5(iv)
Complied
Profit Margin and Net Profit Margin
1.5(v)
Discussion on continuity of any Extra-Ordinary Complied
gain or loss
Basis for related party transactions- a statement
I .5(vi)
of all related party transactions should be Complied
disc l osed in the annual report
1.5(vii)
Utilization of proceeds from public issues,
rights issues and / or through any others None
instruments
1 .5(viii)
An explanation if the financial results
deteriorate after the company goes for Initial None
Public Offering (IPO). Repeat Public Offering
(RPO). Rights Offer. Direct Listing. etc.
1.5(ix)
If significant variance occurs between Quarterly
Financial performance and Annual Financial Complied
Statements the management shall explain about
the variance on their Annual Report
_____________
directors
including Complied
1.5(x)
Remuneration
to
Independent Directors
The financial statements prepared by the
1.5(xi)
management of the issuer company present conpliei1
fairly its state of affairs, the result of its
operations, cash flows and changes in equity
1.5(xii)
Proper books of account of the issuer company Complied
have been maintained
I .5(xiii)
Appropriate accounting policies have been
consistently applied in preparation of the
financial statements and that the accounting Complied
1.5
1.5(i)
ornplied
Thmplied
Thmpl ied
Thmpli ed
1.5(xviii)
Key operating and financial data of at least preceding 5

Compiled
(five) years shall be summarized.p
I .5(xix)
If the issuer company has not declared dividend (cash or
Complied
stock) for the year, the reasons thereof shall be given
I .5(xx)
The number of Board Meetings held during the year and Complied
om Ic
attendance by each director shall be disclosed
I .5(xxi)(a)
Share held by Parent! Subsidiary! Associated Companies Complied
and other related parties (name wise details)
I .5(xxi)(b)
Share held by Directors, Chief Executive Officer,
Company Secretary, Chief Financial Officer, Head 01 Complied
Internal Auditor and their spouses and minor children
(name wise details)
1.5(xxi)(c)
Share held by executives (Top 5 salaried)
Complied
1.5(xxi)(d)
Share held by shareholders holding ten percent (10%) or Complied
more voting interest in the company (name wise details)
1.5(xxii)(a) A brief resume of director
Complied
1 .5(xxii)(b) Nature of his/her expertise in specific functional areas
Complied
1.5(xxii)(e) Names of companies in which the person also holds the
directorship and the Membership of committees of the
board
2 CHIEF FINANCIAL OFFICER (CFO), HEAD OF
INTERNAL AUDIT AND COMPANY SECRETARY
(CS)
2. 1 The Company shall appoint a Chief Financial Officer
(CFO), '! Head of Internal Audit (Internal Control and
compliance) and a Company Secretary (CS). The Board of Comp
1'Icd
Directors should clearly define respective roles,
responsibilities and duties of the CFO, the Head of
Internal Audit and the CS.
2.2 The CFO and the Company Secretary of the companies
shall attend the meetings of the Board of Directors,
provided that the CFO and / or the Company Secretary
-
Complied
shall not attend such part of a meeting of the Board of
Directors which involves consideration of an agenda item
relating to their personal matters
3
AUDIT COMMITTEE
3(1)
The company shall have a Audit Committee as a sub-
Complied
committee of the Board of Directors
3(1)
The Audit Committee shall assist the Board of Directors in
ensuring that the financial statements reflect true and fair
Complied
view of the state of affairs of the company and in
ensuring a good monitoring system within the business
3(iii)
The Audit Committee shall be responsible to the Board of
Directors. The duties of the Audit Committee shall be Complied
clearly set forth in writing
3.1
3.1(i)
3.1(u)
3.1(iii)
3.l(iv)
3.1(v)
3.I(vi)
3.2
3.2(i)
3.2(1)
3.3
3.3(i)
3.3(u)
3.3(iii)
Complied
Constitution of the Audit Committee
The Audit Committee shall be composed of at
Complied
least 3 (three) members
The Board of Directors shall appoint members
of the Audit Committee who shall be directors Complied
of the company and shall include at least I (one)
independent director
All members of the audit committee should be
"financially literate" and at least I (one) Complied
member shall have accounting or related
financial management experience.
The Board of Directors shall appoint the new
committee member(s) to fill up the vacancy(ies)
immediately or not later than 1 (one) month
Complied
from the date of vacancy(ies) in the Committee
to ensure continuity of the performance of work
of the Audit Committee
The Company secretary shall act as the secretary Complied
of the Committee
The quorum of the Audit Committee meeting
shall not constitute without at least I (one) Complied
Chairman of the Audit Committee
The Board of Directors shall select 1 (one)
member of the Audit Committee to be Chairman
Complied
of the Audit Committee, who shall be an
Chairman of the audit committee shall remain
Complied
present in the Annual General Meeting (AGM)
Role of Audit Committee
Complied
Oversee the financial reporting process
Monitor choice of accounting policies and
Complied
principles
Monitor Internal Control Risk management
Complied
I Complied
Complied
Complied
- Complied
Complied
1 Complied
I Complied
Complied
F
3.4.1(ii)(a) Report on conflicts of interests
None
3.4.1(ii)(b) Suspected or presumed fraud or irregularity or None
material defect in the internal control system;
3.4.1(1i)(c) Suspected infringement of laws, including None
securities related laws, rules & regulations;
3.4.1(11)(d) Any other matter with shall be disclosed to the None
Board of Directors immediately
Reporting to the Authorities
3.4.2
If the Audit Committee has reported to the
Board of Directors about any thing which has
material impact on the financial condition and
result of operation and has discussed with the
Board of Directors and management that any
rectification is necessary and if the Audit
Committee finds that such rectification has been N
OflC
unreasonably ignored, the Audit Committee
shall report such finding to the commission,
upon reporting of such matter to the Board of
Directors for three times or completion of a
period of six (6) months from the date of first
reporting to the Board of Directors, whichever is
earlier.
Reporting to the Shareholders & General
3.5
Investors:
Report on activities carried out by the Audit
Committee, including any report made to the
Board of Directors under condition 3.4.1(u) Complied
above during the year, shall be signed by
Chairman of Audit Committee and disclosed in
the annual report of the issuer company.
Complied
External/Statutory Auditors
4
Appraisal or valuation services or fairness Complied
4(i)
opinions.
______
Financial information systems design and Complied
4(H)
implementation.
Book-keeping of other services related to the
4(iii)
Complied
accounting records or financial statements.
Complied
4(iv)
Broker - dealer services
Complied
Actuarial services
4(v)
Complied
Internal audit services
4(vi)
Any other services that the Audit Committee Complied
4(vii)
determines.
No partner or employees of the external audit
4(viii)
firms shall posses any share of the company Complied
they audit at least the tenure of their audit
assignment of that company.
Subsidiary Company
5
Provisions related to the compassion of the
5(i)
shall
Board of Directors of the holdingmpany
co
be made applicable to the compassion of the
Board of Directors of the subsidiary company.
At least one (I) independent directors on the
5()
Board of Directors of the holding company shall
he a directors on the Board of Directors of the
subsidiary company.
Not Applicable
Not Applicable
5(iii)
5(1v)
5(v)
6(i)(a)
6(i)(b)
6(u)
7
7(1)
The minutes of Board Meeting of the subsidiary

company shall be placed for review at the
following Board Meeting of the holding
company.
The minutes of respective Board Meeting of the
holding company shall state that they have
reviewed the affairs of the subsidiary company
also.
The Audit Committee of the holding company
shall also review the financial statements, in
particular the investments made by the
subsidiary company.
Duties of Chief Executive Officer (CEO) &
Chief Financial Officer (CFO)
The CEO & CFO shall certify to the Board that
they have reviewed financial statements for the
year and that to the best of their knowledge and
belief.
These statements don't contain any materially
untrue statement or omit any material fact of Complied
contain statements that might be misleading.
These statements together present a true and fir
view of the company's affairs and are in Coiiplied
compliance with existing accounting standards
and applicable laws.
There arc, to the best of knowledge and belief,
no transactions entered into by the company Complied
during the year which are fraudulent, illegal or
violation of the company's code of conduct.
Reporting & Compliance of Corporate
Governance:
The company shall obtain a certificate from a
Professional Accountant/Secretary (Chartered
Accountants/Cost
and
Management
Accountant/Chartered Secretary)
regarding
Complied
Complied
Not Applicable
Not Applicable
Not Applicable
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Value Added Statement
for the year ended December 31, 2013
Taka in Lac
2013
2012
Description
Sources of Funds
Net Turnover
8,714.05
(7,313.38)
Less: Brought in materials and services
Value added
1,400.67
Add: Other Income
145.79
11,020.98
(9,230.33)
1,790.65
129.78
1,546.47
1.920.43
Applied in the following ways

To Employees
Salary. wages, gratuity & other benefits
484.534
Contribution to Workers profit participation & welfare funds
28.46
512.99
To Governments
Customs duty
246.26
1
Income Tax
106.36
Contribution to the national exchequer
352.62
To Provider of Capital
Dividends
-
865.62
Retained by the Company
To pay for capital expenditure to replace existing assets, to
expand working capital and for growth
Depreciation
246.43
Retains earnings
Opening
(358.86)
Closing
-2
37.04
462.57
516.87
191.27
708.14
169.40
1,340.11
23720
(15.74)
793.28
680.85
358.86
580.32
1,546.47
1,920.43
Elements of Total Cost

2013
Taka in lac
2012
Taka in lac
Raw Materials
Imported
4,670.72
55.44
6,521.99
Local
387.01
4.59
656.76
Packing Materials
486.79
5.78
621.87
Factory Overhead
1,220.29
14.48
1,074.47
General and Administrative Expenses
243.62
2.89
217.43
Selling and Distribution Expenses
305.65
3.63
296.85
Financial Expenses
976.52
11.59
1,020.55
Others
134.83
1.60
228.31
8,425.42
2012
Imported Raw Materials

h. Local Raw Materials
Packing Materials
5.. Factory Overhead
General & Administrative Expenses
Selling & Distribution Expenses
Financial Expenses
Others
( io
5,
61.31
6.17
5.85
10.10
104
2.78
9.59
2.15
Corporate Governance Report

Corporate Governance is to have a mechanism in place for the Board of Directors and other key management staff
to safeguard the shareholders interest and other stakeholders of the Company. Transparency in business
transaction and disclosure of information to regulatory bodies as part of its legal obligations constitute sound
corporate governance. Good corporate governance also means conformity to sound ethical principles and a code
of conduct in business dealings.
Board of Director
Board of Directors is the representative and trustee of the shareholders of the Company. The Board of Directors of
Aramit Cement Limited comprises of six members including Chairman, Chief Executive Officer and the Board also
has one Independent Director in compliance with the corporate Governance Guidelines of BSEC. Board of
Directors is performing the responsibilities, among others, setting the Company's strategic objectives, providing
leadership, supervision and ensuring shareholders' interest.
Audit Committee
Aramit Cement Limited has an Audit Committee as a sub-committee of the Board of Directors. This committee is
assisting the Board of Directors in ensuring that the financial statements reflect true and fair view of the state of
affairs of the Company and in ensuring a good monitoring system within the business. This committee is
responsible to the Board of Directors and its duties and responsibilities are clearly set forth in writing. Audit
Committee is reconstituted as per the guidelines of BSEC.
Audit Committee holds regular meetings on the following major issues:
To review the financial statements and reporting process and monitor the choice of accounting policies and
principles
* To review the business risk management
To review the internal audit assessment
* To oversight the good corporate practices
To review the adequacy of internal audit function etc.
'. separate report of the audit committee is included.
Chairman and Chief Executive Officer
Chairman and Chief Executive Officer are two separate individuals selected by the Board of Directors of Aramit
Cement Limited. Both are performing defined responsibilities and focusing on the strategic value addition of the
Company.
Directors' Report to the Shareholders
Board of Directors is reporting the performance, annual achievements and status of the Company's activities to the
shareholders. They are also conveying the future plan and outlook of the industry and Company in their report.
Chief Financial Officer, Company Secretary and Head of Internal Audit
Company has appointed one qualified Cost Accountants designated as Chief Financial Officer and Company
Secretary. The Chief Financial Officer and Company Secretary regularly advise and assist the Board on financial
strategy and compliance issues of the regulatory bodies. Chief Financial Officer and Company Secretary is also
attending Board Meeting as per Corporate Governance notification of the BSEC. Company's internal audit
department is also headed by a Head of Internal Audit having professional expertise and experiences in the field of
internal audit.
Board of Directors clearly defined respective roles, responsibilities and duties of the Chief Financial Officer and
Company Secretary and Head of Internal Audit.
Internal Audit and Control
Aramit Cement Limited established an Internal Audit Department consisting of professional and knowledgeable
employees. Internal Audit Department directly reports to the Board of Directors.
Internal Audit department regularly conducts their audit based on a yearly Internal Audit Plan and checks, verifies
and reviews the compliance of Internal Control Procedure and other regulatory requirements.
External Auditors
External Auditors of Aramit Cement Limited is appointed in every Annual General Meeting (AGM) by the
Shareholders of the Company as per Companies Act, 1994. Company also conforms to the requirement of
Bangladesh Securities and Exchanges Commission in appointing external auditors. External Auditors are not
engaged to perform any of the tasks other than external/ statutory audit.
Certification on the Compliance of Corporate Governance Guidelines of BSEC
A certificate regarding compliance of conditions of Corporate Governance Guidelines of the Bangladesh Securities
and Exchange Commission is included in the annual report.
Hoda Vasi Chowdhury & Co

Chartered Accountants
Certificate on compliance with corporate governance matters by

Aramit Cement limited for the year ended 31 December 2013
We have examined the conditions of Corporate governance complied by Aranr it Cement Limited
during the year.
Basis of Opinion
We carried out our cxaininatioii for the purpose of certification in accordance with the guidance
issued by the Bangladesh Securities & Exchange Corn mission under notification
SEC/CMRR(-'L)2006-158/134/Adinili.. 44 dated 07 August 2012.
Period Covered
Our review for this certificate is limited to the aspects for the year ended 31 1)eccrsiber 2013.
Opinion
In our opinion and to the best for our in fbrrnation arid according to the explanations provided
by the management
CO irs
i. the conipanyo status on compliance with corporate governance reqoireilicritS appears to be

satisfactory except holding of the positions of the Chiairrsiarr & the CEO b y an individual as opposed to
the rcquirenlent of two individuals as stipulated in condition 1.4 of the BSEC notification which was
Complied on 20 April 2013 arid
ii. its report under condition 7(i)) of said notification appropriately reflects the corripanys
compliance with the conditions of Corporate Governance Guidelines of BSEC applicable for listed
colilpanies.
I )atc C littagong
16 March 2014
Hoda Vasi Chowdhury & Co.
National Office BTMC Bhaban )81h Floor). 7-9 Karwari Bazar Commercial Area, Dhaka-1215. Bangladesh
Motijheel Office Ispahani Building )3rd Floor). 14-15 Motijlreel Commercial Area, Dhaka-1000, Bangladesh
Chittagong Office: OelwarBhaban )4h Floor). 104 Agrabad Commercial Area, Chillagong-4100 Bangladesh

Report of the Audit Committee
Aramit Cement Limited has an Audit Committee as a sub-committee of the Board of Directors. The Audit
Committee assists the Board of Directors in ensuring that the financial statements reflect true and fair view of the
state of the affairs of the company and in ensuring a good monitoring system within the business. The committee
is reporting to the Board of Directors on performing of the clearly set forth responsibilities defined by the Board of
Directors.
Committee Members
The Audit Committee of the Company consists of three members including one Independent Director
knowledgeable about finance and organizational management. The Committee has been reconstituted in line with
Bangladesh Securities and Exchange Commissions notification on Corporate Governance as follows:
Mr. S. M. Rezaur Rahman, Independent Director - chairman of Audit committee
Ms. Dina Ahsan
- Member
Mr. Nasir Uddin Ahmed
Member
Main activities of the audit committee are summarized below:
1. Overseeing and monitoring of financial reporting process, adoption of reporting standards and control
risk management process
Audit Committee is assisting in the oversight of the financial reporting process, including monitoring the adoption
of reporting standards and internal control risks management process to ensure that appropriate financial
reporting process and standards used and adequate activities/ control measures to high risk areas are
periodically evaluated and tested.
2. Review of Periodic Financial Statements
During the year Audit Committee reviewed all periodical financial statements of the company. The review was
made along with the management and other stakeholders. Their reviewed ensure that the financial statements
are prepared in compliance with legal and accounting standards requirements and that the financial statements
were disclosed accurate, reliable and timely information of the Company.
3. Review of Internal Control Assessment
During the year, the committee revised and reviewed the internal control system and internal audit plan with an
emphasis on minimizing of defects, losses and fraud. The committee also reviewed that the internal control was
both adequate and effective.
4. Review of Internal Audit
During the year, the committee reviewed the activities of Internal Audit Department and take necessary action
on the basis of internal audit report.
Reporting of the Committee
On discharging its responsibilities, the audit committee has ensured the followings:
, Financial statements have been prepared and presented in compliance with all laws, regulations and standards
as applicable.
The system of internal control as well as the financial records have been examined on the basis of the internal
audit findings.
Proper and sufficient care has been taken for maintenance on adequate accounting records for safeguarding the
Company's interest and for preventing and detecting frauds and other irregularities.
Appropriate risk control mechanism and Managerial Information Control are in place.
Observations, findings and suggestions of the committee were communicated to the Board of Directors and the
Board of Directors had taken appropriate measures on the report.
(S. M. Rezaur Rahman)

Chairman
Audit Committee
Independent Director of the Board
STATEMENT OF CEO AND CFO ON FINANCIAL STATEMENTS
10 March, 2014
The Board of Directors
53, Kalurghat Heavy Industrial Estate
P.O. Mohara, Chittagong.
We certify that:(I) We have reviewed financial statements for the year ended 31 December 2013 and that to the best of
our knowledge and belief:
a) these financial statements do not contain any materially untrue statement or omit any material fact or
contain statements that might be misleading;
b) these financial statements together present a true and fair view of the company's affairs and are in
compliance with existing accounting standards and applicable laws;
(ii) There are, to the best of knowledge and belief, no transactions entered into by the company during the
year which are fraudulent, illegal or violation of the company's code of conduct.
Muhammed Shah Alam, FCMA

MRH DEY & Co.
AUDITORS' REPORT TO THE SHAREHOLDERS
OF
ARAMIT CEMENT LIMITED
We have audited the accompanying Statement of Financial Position of the Aramit Cement Limited as at
31 December 2013 and the related Statement of Comprehensive Income, Statement of Cash Flows and
the Statement of Changes Equity for the year then ended, and a summary of significant accounting
policies and other explanatory notes.
Management Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these Financial Statements in
accordance with Bangladesh Financial Reporting Standards (BFRS), the Companies Act.1994, the
Securities & Exchange Rules 1987 and other applicable laws and regulations. This responsibility includes:
designing, implementing and maintaining internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatements, whether due to fraud or error; selecting
and applying appropriate accounting policies; and making accounting estimates that are reasonable in the
circumstances.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards
require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity's preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
Opinion
In our opinion, the financial statements, prepared in accordance with Bangladesh Financial Reporting
Standards (BFRS), give a true and fair view of the state of the Company's affairs as at 31 December 2013
and of the results of its operations and its cash flow for the year then ended and comply with the
Companies Act. 1994, the Securities and Exchange Rules 1987 and other applicable laws and regulations.
We also report that:
a) we have obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit and made due verification thereof,
b) in our opinion, proper books of account as required by law have been kept by the Company so far as it
appeared from our examination of those books,
c) the Company's statement of financial position, statement of comprehensive income and it's statement of
cash flows dealt with by the report are in agreement with the books of account & returns; and
d) the expenditure incurred was for the purpose of the Company's business.
Chittagong, 15 March, 2014
MRH 0EV &
c6
Statement of Financial Position
as at December 31, 2013
Notes
ASSETS

NON CURRENT ASSETS:

Property, Plant & Equipment

Capital Work
In Progress
Investment
CURRENT ASSETS:
Inventories
Trade Debtors
Advances, Deposits and Prepayments
Due from Aramit Footwear Limited
Due from Aramit Power Limited
Due from Aramit Thai Aluminium Limited
Due from Aramit Steel Pipes Limited
Due from Aramit Alu Composite Panels Limited
Other Receivables
Cash and Bank Balances
TOTAL ASSETS
SHAREHOLDERS' EQUITY & LIABILITIES
SHAREHOLDERS' EQUITY:
Share Capital
General Reserve
Retained Earning
NON CURRENT LIABILITIES:
Term Loan & Lease Finance
Deferred Income Tax
Provision for Employees' Retiral Gratuity
3
4
5
II
H
II
2013
Taka
724,131,370
110,350,575
606,998,295
6,782,500
b,bU,Ub
6
7
8
9
10
11
12
13
14
15
91,035,394
298,503,853
189,531,029
137,269,963
66,515,190
20,053,604
7,475,638
39,453,058
3,546,955
9,224,122
1,586,740,176
2012
Taka
661,589,942
102827,859
551,979,583
6,782,500
ci 11Q
140,770,770
299,142,030
208,862,968
104,376,568
58,269,727
4,528,244
6,542,725
34,684,023
3,546,955
20,615,126
1,542,929,078
18
19.1
19.2
231,286,234
274,728,165
169,400,000
169,400,000
26,000,000
26,000,000
35,886,234
79,328,165
24,531,649
17,622,888
2,076,1064,684,613
9,610,216
2,914,766
12,632,016
10,236,820
CURRENT LIABILITIES:
Current portion of Term Loan & Lease Finance
Current portion of Redeemable Debentures
Creditors and Accruals
Short Term Loan
Due to Aramit Limited
Unclaimed Dividend
Proposed Dividend
TOTAL SHAREHOLDERS' EQUITY & LIABILITIES
18
20
21
22
23
24.1
24.2
268,634,799
20,947,632
424,862,571
458,782,466
112,364,574
8,797,082
-
208,799,388
36,868,214
472,933,319
436,824,743
110,089,676
4,655,855
16,940,000
CONTINGENT LIABILITIES AND COMMITMENTS
25
1,586,740,176
-
1,542,929,078
-
NET ASSET VALUE PER SHARE (BASIC)
32
16.22
13.65
16
17
Z(,111,1
These financial statements should be read in conjunction with the annexed notes and were approved by the
Board of Directors on 10 March, 2014 and were signed on its behalf by
COMPANY SECRETARY

DIRECTOR
CHIEF EXECUTIVE OFFICER
Signed in terms of our separate report of even date annexed
Chittagong, March 15, 2014
MRH
Statement of Comprehensive Income
For the year ended December 31, 2013
Notes

26
Revenue
27
Cost of Sales
Gross profit

28
General and Administrative Expenses
29
Selling and Distribution Expenses
31
Other Operating Income
Profit from Operating Activities

30
Financial expenses
Profit before WPPF and welfare fund

2.11.3
Contribution to WPPF and welfare fund
Income Tax Expenses:
2.12.2
Current income tax
19.1
Deferred tax Income/(Expenses)
Profit after tax
33
Earning per share (Basic)
2013
Taka
II
1
2012
Taka
I
I
871,405,186
(676,480,549)
194,924,637
(24,362,408)
(30,564,801)
14,579,082
154,576,510
(97,651,929)
56,924,581
(2,846,229)
54,078,352
1,102,097,948
(887,508,909)
214,589,039
(21,743,412)
(29,685,255)
12,977,836
176,138,208
(102,054,767)
74,083,441
(3,704,172)
70,379,269
(17,331,871)
6,695,450
43,441,931
(21,540,668)
2,413,985
51,252,586
2.56
3.03
These financial statements should be read in conjunction with the annexed notes and were approved
by the Board of Directors on 10 March, 2014 and were signed on its behalf by:
COMPANY SECRETARY
DIRECTOR
Signed in terms of our separate report of even date annexed
Chittagong, March 15, 2014
MRH DEY & C.

Statement of Cash Flows For the year ended December 31, 2013
Notes
CASH FLOW FROM OPERATING ACTIVITIES:
Cash Received from Customers
7 & 26
Cash Paid to Suppliers and Employees
3.3, 6,8,13,18.2,20,26,27, & 28
Cash Generated from Operations
Income tax Paid
Interest paid on short term loan
30
Net cash inflow! (outflow) from Operating Activities
2013
Taka
2012
Taka
872,043,363
(680,798,540)
191,244,823
(22,752,165)
(97,190,435)
71,302,223
1,060,419,544
(788,382,810)
272,036,734
(47,921,916)
(99,915,503)
124,199,315
CASH FLOW FROM INVESTING ACTIVITIES:

Capital expenditures
Investment
Interest earned
Net cash inflow / (outflow) from Investing Activities
3&5
5
31
(87,184,818)
-
14,579,082
(72,605,736)
(122,347,152)
(3,782,500)
12,977,836
(113,151,816)
CASH FLOW FROM FINANCING ACTIVITIES:

Due to Aramit Limited
Due from Aramit Thai Aluminium Limited
Due from Aramit Footwear Limited
Due from Aramit Power Limited
Due from Aramit Steel Pipes Limited
Due from Aramit Alu Composite Limited
Short term loan
Long Term Loan & Lease Finance
Dividends paid
Redeemable debentures
Interest on Debentures
Net cash inflow/(outflow) from Financing Activities
23
11
9
10
12
13
22
18
24
20
30
2,274,898
(15,525,360)
(32.893,395)
(8,245,463)
(932,913)
(4,769,035)
21,957,723
57,226,904
(12,798,773)
(15,920,582)
(461,494)
(10.087.490
9,756,176
1,564,577
(35,664,737)
(3,016,311)
(682.969)
(10,741,927)
(20,871,728)
68,727,568
(11,391,004)
20,615,126
7,728,360
12,886,766
15
9,224,122
20,615,126
34
4.21
7.33
Net increase/(decrease) in cash & cash equivalents

Opening Cash and cash equivalents
Closing cash and cash equivalents
OPERATING CASH FLOW PER SHARE(BASIC)
(10,250,525)
(2,139,264)
(3,319,140)
These financial statements should be read in conjunction with the annexed Notes
COMPANY SECRETARY
DIRECTOR
Reconciliation of Cash Flow from Operating Activities
2013
Taka
54,078,352
Adjustment for non-cash expenditures:
Depreciation
24,643,390
Employees retrial gratuity
2,395,196
Interest on Debentures
461,494
27,500,080
2012
Taka
70,379,269
23,720,227
647,719
2,139,264
26,507,210
Other Income-operating
(14,579,082)
(12,977,836)
Changes in Working Capital

Increase/(Decrease) in current liabilities:
Creditors and accruals
(65,402,619)
147,859,932
49,735,376
638,177
19,331,939
69,705,492
(18,259,884)
(41,678,404)
(47,630,972)
(107569,260)
71,302,223
124,199,315
Decrease/(Increase) in current assets:

Inventories
Trade debtors
Advances, deposits and prepayments
Net cash inflow/(outflow) from Operating Activities
These financial statements should be read in conjunction with the annexed Notes
nTh
COMPANY SECRETARY
DIRECTOR
Statement of Changes In Owners' Equity

Amount in Taka
General
Reserve
Retained
Earnings
169,400,000
Balance as on January 1, 2013
-
Profit after tax for the year
26,000,000
-
I Total Equity
I
231286,234
357886,234
43,441,931
43,441,931
169,400,000
26,000,000
79,328,165
274,728,165
154,000,000
Balance as on January 1, 2012
15,400,000
Bonus share issued during the year
-
Profit after tax for the year
26,000,000
1.573,648
:
51,252,586
181,573,648
15,400,000
51,252,586
(16.940,000)
35,886,234
(16,940,000)
231,286,234
Share Capital Ii
Particulars
Balance as at December 31, 2013
Cash dividend for 2012

Balance as at December 31, 2012
-
169,400,000
:
-
-
26,000,000
These financial statements should be read in conjunction with the annexed Notes.
COMPANY SECRETARY
DIRECTOR
Notes to the Financial Statements

For the Year Ended December 31, 2013
I THE COMPANY & ITS OPERATIONS

The Company was incorporated on 19 August 1995 as a Public Company limited by shares under
the Companies Act 1994 and has been allowed to commence business from the foregoing date
under Section 150(2) of the said Act. The principal activities of the Company as stipulated to be, are
manufacturing of 'Portland' cement and allied products and marketing thereof. Shares and
debentures of the Company were listed with Chittagong Stock Exchange (CSE) on 9 September
1998 and with Dhaka Stock Exchange (DSE) on 16 September 1998. The commercial production of
the factory commenced on 10 November 1999.
2 SUMMARY OF SIGNIFICANT ACCOUNTING AND VALUATION POLICIES
2.1 Basis of preparation and presentation of the financial statements
The financial statements have been prepared and the disclosures of information made in
accordance with the requirements of the Companies Act 1994, the Securities & Exchange
Rules 1987 and International Accounting Standard (lAS) adopted by the Institute of Chartered
Accountants of Bangladesh ([CAB), as Bangladesh Accounting Standard (BAS) & Bangladesh
Financial Reporting Standard (BFRS). The statement of financial position and statement of
comprehensive income have been prepared according to BAS 1: "Presentation of Financial
Statement" based on accrual basis of accounting following going concern assumption and
statement of cash flows according to BAS 7 "Statement of Cash Flows".
2.2 Accounting convention and assumption
The financial statements are prepared under the historical cost convention method.
2.3 Principal accounting policies
The specific accounting policies have been selected and applied by the Company's
management for significant transactions and events that have a material effect within the
Framework for the Preparation and Presentation of Financial Statements. Financial
Statements have been prepared and presented in compliance with BAS-1: "Preparation of
Financial Statements". The previous year's figures were presented according to the same
accounting principles.
2.4 Application of Standards
The following BAS are applied to the financial statements for the year under review:
BAS 1
BAS 2
BAS 7
BAS 8
BAS 10
BAS 12
BAS 16
BAS 17
BAS 18
BAS 24
BAS 28
BAS 33
BAS 37
Presentation of Financial Statements

Inventories
Statement of Cash Flows
Accounting policies, changes in accounting estimates and errors
Events after the Reporting Period
Income Taxes
Leases
Revenue
Related Party Disclosures
Investments in Associates
Earnings Per Share
Provisions, Contingent Liabilities and Contingent Assets
2.5

Property, Plant & Equipment are accounted for according to BAS 16 "Property, Plant and
Equipment" at historical cost less cumulative depreciation and the capital work-in-progress
(when arises) is stated at cost. All assets are depreciated/amortized according to the
straight-line method over their expected useful life. The gain or loss arising on the disposal
or retirement of an asset is determined as the difference between the sales proceeds and
the carrying amount of the asset and it is recognized as non-operating income! loss.
2.6
Depreciation of the fixed assets

Depreciation is provided on straight line method at the annual rate(s) shown below whereby
the cost less estimated salvage value of an asset is written off over its anticipated service
life except that long-term leasehold land is amortized annually in such a manner so that by
the terminal period the lease value is fully amortized.

Rate %
Category

5
Building & other constructions on leasehold land

10
Plant & machinery

15
Electrical installation

15-20
Equipment, fittings & computer

20
Transportation equipment

10
Furniture & fixtures
Depreciation is charged on the assets acquired during first half of the accounting year. No
depreciation is charged on the assets acquired during the second half of the accounting
year as well as on assets disposed off.
2.7
Investment
This is valued at cost. Market value or intrinsic value of shares was not considered
consistently.
2.8
Valuation of Inventories
Inventories are valued as below in compliance with the requirements of BAS 2.
Category
Raw & Packing Materials
Basis of valuat
Weighted Average Cost
Work in process
Average Cost of Materials and

Appropriate Manufacturing Expenses
Finished Goods
At Cost
Goods-in-transit
At Cost
Stores and spares
Weighted Average Cost
2.9 Cash and cash equivalents

Cash in hand and cash at banks have been considered as the cash and cash equivalents for
preparation of these financial statements as there was insignificant risk of changes in value of
these current assets.
2.10 Creditors and Accruals

2.10.1 Trade and Other Payable
Liabilities are recorded at the amount payable for settlement in respect of goods and
services received by the Company, whether or not billed by the suppliers.
2.10.2 Provision
The preparation of financial statements is in conformity with Bangladesh Accounting
Standards (BAS) 37 "Provisions, contingent liabilities and contingent assets" which requires
management to make estimates and assumptions that affect the reported amounts of
revenues and expenses, assets and liabilities during and at the date of financial statements.
In accordance with the guidelines as prescribed by BAS 37 provisions were recognized in
the following situation:
When the company has a present obligation as a result of past events;
When it is probable that an out flow of resources embodying economic benefits will
be required to settle the obligation; and
Reliable estimates can be made of the amount of the obligation.
The provisions are shown in the statement of financial position at an appropriate level with
regard to an adequate provision for risks and uncertainties. An amount recorded as a
provision represented the best estimate of the probable expenditure required to fulfill the
current obligation on the statement of financial position date.
Other provisions are valued at in accordance with BAS 37 Provisions, Contingent Liabilities
and Contingent Assets. Other provisions comprise all realizable risks from uncertain
liabilities and anticipated losses from pending transactions.
2.11 Employees Benefits
2.11.1 Employees' retiral gratuity - note 19.2
The Company operates an unfunded gratuity scheme and the provision in respect of which
is made to cover the potential obligation in respect of all its eligible employees.
2.11.2 Staff Provident fund
The company maintains a recognized provident fund @ 10% of basic pay (equally
contributed by the employee and employer) for all eligible permanent employees. The said
.
.
fund is managed by aboard of trustees.
2.11.3 Workers' Profit Participation and Welfare fund
The company also recognizes a provision for workers' profit participation and welfare fund
5% of net profit before tax as per Bangladesh Labour Law, 2006.
2.12 Taxation
2.121 The Company was allowed Tax holiday for a period of five years from the date of
commencement of commercial production i.e. 10 November 1999 vide National Board of
Revenue's circular ref. 11(117)Anu:-1/2000 dated 18.09.2000. The period of tax holiday of
the Company expired in October 2004.
2.12.2 Provision for Current Taxation has been made at prevailing rate of income tax on
Taxable Profit before tax during the year 2013.
2.12.3 Provision for Deferred Taxation has been made at the ruling income tax rate applied
on the amount of temporary difference.
(,W
2.13 Contingent liabilities and assets

Contingent liabilities are current or possible obligations, arising from past events and whose
existence is due to the occurrence or non-occurrence of one or more uncertain future
events, which are not within the control of the company. In accordance with BAS 37
Provisions, Contingent Liabilities and Contingent Assets are disclosed in note - 25 of the
financial statements.
2.14 Foreign Currency Translation
2.14.1 The items in foreign currencies are translated & recorded in Taka currency at the
rate of exchange ruling on the relevant date.
2.14.2 Monetary assets or liabilities in terms of foreign currency are translated into local
currency at the rate ruling on the date of statement of financial position.
2.15 Revenue
In compliance with the requirements of BAS 18 "Revenue", revenue is recognized only
when:
The products are invoiced and dispatched to the customers;
Interest income is accrued on a time basis by reference to the principal outstanding at
the effective interest rate applicable.
2.16 Statement of Cash Flows
Statement of Cash Flows is prepared principally in accordance with BAS 7 "Statement of
Cash Flows" and the cash flows from operating activities have been presented under direct
method.
2.17 Earning per share
The Company calculates Earning Per Share (EPS) in accordance with BAS 33 "Earning Per
Share" which has been shown on the face of Statement of Comprehensive Income and the
computation of EPS is stated in note - 33 of the financial statements.
2.17.1 Basic earnings
The Company calculates earnings for the year attributable of the ordinary shareholders. As
there is no preference dividend, minority interest or extra ordinary items, the net profit after
tax for the year has been considered as fully attributable to ordinary shareholders.
2.17.2 Basic earning per share
This has been calculated dividing the basic earnings by the total number of ordinary shares
outstanding at the year end.
2.18 Certain Accounting Practices
The following expenditures are charged out to revenue as and when incurred
2.18.1 Cost of office supplies, publicity materials and services on procurement.
2.18.2 Charges on account of repairs and maintenance.
2.18.3 Applicable accrual in respect of creditors for supplies or services is considered only
at the time of the year end while closing the Company's books of account.
2.19 Reporting Period
The financial period of the Company covers from January 1, 2013 to December 31, 2013.
3. PROPERTY, PLANT & EQUIPMENT

3.1 Fixed Assets at Cost less Accumulated Depreciation
Amount in Taka
Fixed Assets at Cost - note 2.5
Particulars
Addition
Deletion!
At
At January 1 during the

Adjustment December 31,
I
I
2013
year
during the year
2013
Depreciation! Amortization -note 2.6
Written Down I
Charges
Value (WDV) at
At
Disposed
1
At January ' during the during the December31 Decemebr 31,
I
I
2013
I
I
year
year
2013
2013
Freehold Land
Long Term Leasehold Land
Factory & Laboratory Building
Plant & Machinery
Electrical Installation
Equipments, Fittings & Computer
Transportation Equipment
Furniture & Fixture
-
5,361,976
8,111.000
-
98,477.193
-
148,556,570
5,963,159
14,352.114
226,304
6,506.335
537,750
93.564,086 25,345,982
1.570,327
92,91
-
-
-
-
-
-
-
5,351,976
8,111,000
98,477,193
154,519,729
14.578,418
7.044,085
118.910,068
1.663,238
-
-
1.065,080
81,929
63,369,369 4,923,859
142,224,479
1.166,654
10,193
14,323,712
5,775,479
249,115
45,495,777 18,188,582
1.417,846
23,058
-
-
-
-
-
-
-
-
-
1,147,009
68,293,228
143,391,133
14,333,905
6,024,594
63,684,359
1,440,904
5.361,976
6.963,991
30183,965
11.128,596
244,513
1.019,491
55.225,709
222,334
Total: Dcember 31, 2013
376,499,601
32,166,106
400,665,707
273,671,742 24,643,390
290,315,132
110350,575
Total: Dcember 31, 2012
371,178,081
5,321,520
376,499,601
249,951,515 23,720,227
273,671,742
102,827859
3.2. Accumulated Depreciation - notes 2.6 & 3.1

Opening balance
Charged during the year - note 3.1
2013
Taka
2012
Taka
273,671,742
24,643,390
298,315,132
249,951,515
23,720,227
273,671,742
298,315,132
273,671,742
23,452,854
1,190,536
24,643,390
22,491,901
1,228,326
23,720,227
Disposed during the year - note 3.1
3.3. Allocation of depreciation charge

- note 3.1

Factory overhead - note 27.5

General and administrative - note 28
2013
Taka
2012
Taka
4. CAPITAL WORK IN PROGRESS

Long term leasehold land

Civil construction

Plant & machinery

Unallocated pre-production 'revenue expenses

Jetty & conveyor belt & Others
3,807,975
155,017,280
224,996,666
222,769,404
406,970
3,807,975
140,017,280
197,952,107
209,795,251
406,970
606,998,295
551,979,583
The Capital work in progress includes all cost pertinent to the development/construction of Unit-2 and eventually which
will be transferred to property, plant and equipments on the completion of said plant in a manner as intended by the
management.
5. INVESTMENT - note 2.7

Investment in it's Associated Company:
Aramit Thai Aluminium Limited - 5.1

(50,000 shares @ Tk 100 each fully paid in cash)
Aramit Power Limited - 5.2

(17,825 shares @ Tk 100 each fully paid in cash)
5,000,000
5,000,000
1,782,500
1,782,500
6,782,500
6,782,500
5.1. Aramit Thai Aluminium Limited (ATAL) has been incorporated on 14 September 2000 and has commenced its
commercial production on 25 June 2002.The Authorized share capital of the Company is 5,000,000 ordinary shares
Tk 100 each and the Issued, Subscribed and Paid up capital is 1,000,000 shares Tk 100 each. Out of this Aramit
Cement Limited Subscribed 30,000 Shares Tk 100 each. ATAL has issued 2 Rights Shares of face value of Tk 100
each for each 3 shares held by the existing shareholders on August 29, 2012 as a result ACL now subscribed 50,000
shares @ Tk 100 each i.e. shareholding position is 5%.
5.2. Aramit Power Limited has been incorporated on 28 June 2004 and has commenced its commercial production on
25 June 2005.The Authorized share capital of the Company is 1,000,000 ordinary shares @ Tk 100 each and the
Issued, Subscribed and Paid up capital is 71,300 shares Tk 100 each. Out of this Aramit Cement Limited
Subscribed 17,825 Shares l Tk 100 each i.e. share holding position is 25%.
6. INVENTORIES
Stock-in-trade - note 6.1

Stores and spares
6.1. Stock-in-trade - note 6

Raw materials - note 27.1
Packing materials - note 27.2
Work-in-process - note 27
Materials in transit:
Raw Materials
Spare Parts
44,203,864
46,831,530
91,260,147
49,510,623
91,035,394
140,770,770
31,010,114
2,784,447
2,125,692
79,946,923
1,968,640
8,427,760
8,225,866
57,745
44,203,864
916,824
91,260,147
2013
Taka
7. TRADE DEBTORS
Secured:
Dealers
Unsecured:
Dealers
Non dealers
8. ADVANCES, DEPOSITS AND PREPAYMENTS

Advances - note 8.1

Deposits - note 8.2

Prepayments - note 8.3
8.1 Advances - note 8

For Income Tax

For Value Added Tax - VAT

For supplies - note 8.4

For Others

For employees
8.2 Deposits - note 8

Power Development Board

For Telecommunication (BTCL)

BOC Bangladesh Limited
8.3 Prepayments - note 8
Insurance
Advertisement
WASA
2012
Taka
644,208
644,944
156,956,429
140,903,216
297,859,645
298,503,853
122,277,610
176,219,476
298,497,086
299,142,030
187,507,545
1,246,500
776,984
189,531,029
206,816,590
1,246,500
799,878
208,862,968
68,089,597
62,329,758
54,185,074
2,788,875
114,241
187,507,545
62,687,225
92,627,364
50,399,136
977,890
124,975
206,816,590
1,200,000
38,500
8,000
1,246,500
1,200,000
38,500
8,000
1,246,500
756,401
6,000
14,583
776,984
586,795
198,500
14,583
799,878
8.4 Advance for supplies include a net sum of Tk. 29,242,079 being on account payment to North
South Transport Limited in order to help meet their Lease finance obligation to Lessor on account of
seventeen trucks. These Trucks are absolutely used for transportation of clinker from port as well as
transfer of finished products to dealers & non-dealers of the Company.
9. DUE FROM ARAMIT FOOTWEAR LIMITED (AFL)
Opening balance
Fund extended during the period
104,376,568
33,550,696
137,927,264
(657,301)
137,269,963
Re-paid! adjusted during the period

Closing balance
68,711,831
44,782,777
113,494,608
(9,118,040)
104,376,568
Short term loan extended by Aramit Cement Limited to Aramit Footwear Limited based on Compay's Board's
decision, wherein it was decided to treat the financing provided to AFL as short term loan carrying interest
15.50% per annum on monthly opening product with effect from 01 January 2006 to 30 September 2010 and
interest 13 % per annum from 01 October 2010 as per Board's decision dated 30 September 2010 and no
interest is charged from 01 January 2011 as per Compay's Board's decision dated 13 October 2011.
__
10. DUE FROM ARAMIT POWER LIMITED (APL)

Opening balance
Fund extended during the year
Interest earned during the year - note 31
2013
Taka
2012
Taka
58269,727
28,987,038
87,256,765
7,627,633
94,884,398
(28,369,208)
66,515,190
55,253,416
24,843,763
80,097,179
7,236,777
87,333956
(29,064,229)
58,269,727
Re-paid / adjusted during the year

Closing balance
Represents short term loan extended by Ararnit Cement Limited to Aramit Power Limited including interest @15.50% per
annum on monthly opening product with effect from 1 January 2006 to 30 September 2010 and interest @ 13 % from 01
October 2010.
11. DUE FROM ARAMIT
THAI ALUMINIUM LIMITED (ATAL)

6,092,821
4.528.244
Opening balance

623,181
16,515,978
Fund received during the year
6,716,002
21,044,222

677,918
1,071,056
7,393,920
22,115,278

(2,865,676)
(2 1 061,674)
Re-paid I adjusted during the year

4,528,244
20,053,604
Closing balance
Represents short term loan extended by Aramit Cement Limited to Aramit Thai Aluminium Limited based on respective
Company's Board's decision carrying interest @10% per annum on monthly opening product with effect from 1 January
2001 to 30 September 2010 and interest @13% from 01 October 2010.
12. DUE FROM ARAMIT STEEL PIPES LIMITED (ASPL)

Opening balance

Re-paid / adjusted during the year

Closing balance
6,542.725
64,040
6,606,765
904,055
7,510,820
(35,182)
7,475,638
5,859,756
72,543
5,932,299
803,452
6,735,751
(193,026)
6,542,725
Represents short term loan extended by Aramit Cement Limited to Aramit Steel Pipes Limited including interest @15.50%
per annum on monthly opening product with effect from 1 January 2006 to 30 September 2010 and interest 13% from 1
October 2010.
13. DUE FROM ARAMIT ALU COMPOSITE PANELS LIMITED (AACPL)
23,942,096
34,684,023
Opening balance
6,780,187
6,972
30.722,283
34,690,995
3,994,390
4,786,832
34,716,673
39,477,827
(32,650)
(24,769)
34,684,023
39,453,058
Closing balance
14. OTHER RECEIVABLES
3,500,000
3,500,000
Insurance claim receivable
6,050
6,050
Receivable for sale of fixed assets
40,905
40,905
Others
3,546,955
3,546,955
15. CASH AND BANK BALANCES
Balances with scheduled banks
9,179,146
6,508,262
Current accounts
9,953,283
1,748,689
Fixed Deposit Receipts (FDR)
1,441,248
795,500
Short term deposits (STD)
20.573,677
9,052,451
41,449
171,671
Cash in hand
9,224,122
20,615,126
2013
Taka
I F
16. SHARE CAPITAL

16,1. Authorized
50000,000 Ordinary Shares of Tk 10 each
500,000,000
500,000,000
16.2. Issued, subscribed and paid-up

Paid-up in cash
13,500,000
Ordinary Shares of Tk 10 each
135,000,000
For consideration other than cash
500,000
Ordinary Shares of 1k 10 each
5,000,000
14,000000
Ordinary Shares of Tk 10 each
140000,000
2,940,000
16,940,000
Isued as Bonus Share

Ordinary Share of Tk 10 Each
Ordinary Share of Tk 10 Each
16.3. Position of share holding
31.12.2013
Taka
Sponsors:
Aramit Limited
19.29
Directors & others
15.00
5.00
3.57
42.86
General Public:
Institutions
25.08
Others
32.06
57.14
at
100.00
2012
Taka
135,000,000
5,000,000
140,000,000
29,400,000
29,400,000
169,400,000
169,400,000
31.12.2012
Taka
32,670,000
25,410,000
8,470,000
6,050,000
72,600,000
19.29
15.00
5.00
3.57
42.86
32,670,000
25,410,000
8,470,000
6,050,000
72,600,000
42,482,990
54,317,010 11
96,800,000
24.75
32.39 11
57.14
41,932,500
54,867,500
96,800,000
169,400,000
100.00
169,400,000
16.4. The details of the above share holdings are as follows:

January
I No. of shares as I Movement of shares issued 1

No. of shares Share capital in
1
during the period
las at December II Taka as at
December
31, 2013
In cash
Bonus shares 1
31, 2013
01,
Name of the shareholders
2013
I
I (Face value Tk II
10)
I
II
Aramit Limited
3,267,000
Directors & others
2,541,000
847,000
Investment Corporation of BD.
605,000
General Public
9,680,000
16,940,000
II
-
-
-
-
-
-
-
-
-
-
3,267,000
2,541,000
847,000
605,000
9,680,000
32,670,000
25,410,000
8,470,000
6,050,000
96,800,000
16,940,000
169,4001000
16.5 Classification of shareholders by holdings:

Shareholding Range
Less than 500 Shares

501 Shares to 5,000 Shares
From 5,001 Shares to 10,000 Shares
More than 1,000,000 Shares
II
I
No. of
Shareholders
1,064
1,975
102
53
18
12
1
13
8
4
3,250
No. of
Shares
144,055
2,505,023
744,529
758,470
386,680
417,910
50,000
952,350
2,107,160
8,873,823
16,940,000
31.12.2013
% of
Holdings
0.85
14.79
4.40
4.48
2.28
2.46
0.29
5.62
12.44
52.39
100.00
31.12.2012
% of
Holdings
0.60
11.12
3.37
3.79
2.15
2.18
1.60
4.39
26.17
44.64
100.00
2013
Taka
17. GENERAL RESERVE
2012
Taka
26,000,000
26,000,000
26,000,000
26,000,000
As per 21 Board meeting dated May 20, 2001 an aggregate amount of Taka 30,000,000 transferred from accmulated
profit to General Reserve from which an amountig to Taka 4,000,000 had been utilised for the purpose of paying
dividend in unavoidable adverse situation ( year 2002) to general shareholder other than sponsor shareholder in
persuant to 31 Borad meeting held on April 29, 2003.
18. TERM LOAN & LEASE FINANCE

Due within one year

Due after more than one year
268,634,799
2,076,106
208,799,388
4,684,613
270,710,905
213,484,001
A) Fareast Finance & Investment Limited
9,755,853
1,826,400
4,100,386
2,076,106
13,856,239
3,902,506
The Company has a countervailing lease agreement with Fareast Finance & Investment Limited which is an operating
lease with following particulars:
(i) Repayment Term was 48 months
(ii) Interest rate 20% p.a. on arrer basis
(iii) Principal amount of finance: Tk 5,000,000 - will paid till 28.05.2016: Tk 152,200 per month
(iv) Security
- Post dated cheques
- Corporate Guarantee from Aramit Limited
- Personal Guarantee of directors
Due within one year

B)
National Credit and Commerce Bank Limited (NCCBL)
Due within one year
184,466,596
184,466,596
170,197,849
170,197,849
4,064,520
39,925,128
-
584,227
Due within one year
4,648,747
39,925,128
Mortgage of land measuring 3.03 acres (Tk 30,000,000), second charge on plant & machinery (Tk 20,000,000) since 1st
charge created by Investment Corporation of Bangladesh (ICB), 1st charge on stores & spares (Tk 10.000,000), raw
materials and finished goods (Tk 20,000,000) and fixed & floating assets (Tk 10,000,000). In addition 1st charge on fixed
and floating assets of the Company relating to development I expansion unit to the extent of Tk 180,000,000 for Long
Term Loan facilities from National Credit and Commerce Bank Limited, Khatungonj Branch, Chittagong.
Share certificate of Aramit Limited issued in favour of Asif Steel Limited - face value of such share certificate is Tk
3,993,610 (399,361 number of shares of 1k 10 each) and in favour of Javed Steel Mills Limited - face value of such
share certificate is Tk 7,987,170 (798,717 number of shares of Tk 10 each) - was deposited with National Credit and
Commerce Bank Limited, Khatungonj Branch, Chittagong as lien against Long Term Loan facilities.
C)
National Credit and Commerce Bank Limited (NCCBL)
Assets of Aramit Limited to the extent of Tk 40,000,000 (1k 10,000,000 on stores & spares, Tk 10,000,000 on raw
materials and finished goods and 1k 20,000,000 on fixed and floating assets) has been mortgaged as first charge in
favour of National Credit and Commerce Bank Limited, Khatungonj Branch, Chittagong for Long Term Loan facilities of
ACL.
Share certificate of Aramit Cement Limited issued in favour of Mr. Saifuzzaman Chowdhury - face value of such share
certificate is 1k 20,920,000 (209,200 number of shares of 1k 100 each) as lien against Long Term Loan facilities with
NCCBL.
Registered mortgage of factory land measuring 57.80 decimal having value of Tk 7,225,000 for Long Term Loan facilities
with NCCBL.
0) Bank Asia
Due within one year

(i)
(ii)
(iii)
(iv)
Total Loan Facilities: Taka 13.61 Million

Repayment Term 36 months
Interest rate 12% p.a.
Security:
- Post dated cheques
- Documents of title of goods
- Hypothecation of book debts & Receivables
1,601,262
1,601,262
6,363,277
6,363,277
40,815,413
40,815,413
18,417,889
18,417,889
E) State Bank of India
Due within one year
Security:
The same securities ranking pari-passu with NCCBL were given for this facilities along with post dated cheques
favouring State Bank of India (SBI).
2013
Taka
19.
2012
Taka
DEFERRED LIABILITY
19.1 Deferred Income Tax - note 2.12.3

9,610,216
Opening Balance
Add: Deferred tax (Income)/Expenses during the year
(6,695,450)
2,914,766
Closing Balance
12,024,201
(2,413,985)
9,610,216
19.2 Employees retiral gratuity - note 2.11.1

10,236,820
Opening balance
2,991,746
Provided during the year
13,228,566
Paid during the year
(596,550)
12,632,016
Closing Balance
9,589,101
2,152,957
11,742,058
(1,505,238)
10,236,820
20. REDEEMABLE DEBENTURES

20,947,632
Current portion
Long Term portion
20,947,632
The break up:
Institutions
5,317,714
Principal
Interest
877,304
6,195,018
14,752,614
Public
20,947,632
21. CREDITORS AND ACCRUALS
34,882,475
For Other finance - note 21.1
377,169,863
For Supplies
For Revenue expenses
8,604,990
For Capital expenditures - note 21.2
654,747
3,550,495
Workers profit participation & welfare funds
424,862,571
21.1 Other finance - note 21
Customers credit balances
-
Security deposit refundable - dealers & contractors
2,125,000
Tax & VAT deduction at source payable
11,936,989
17,331,871
Provision for current taxation
Provision for doubtful debts
1,659,312
1,829,303
Provident Fund (Employees portion)
34,882,475
21.2 Capital expenditures - note 21
Plant & machinery
Erection & installation
636,565
18,182
36,868,214
36,868,214
20,269,205
1,846,395
22,115,600
14,752,614
36,868,214
48,146,970
400,734,102
18,939,988
654,747
4,457,512
472,933,319
12,555,305
1,930,000
8,622,115
21,540,668
1,659,312
1,839,570
48,146,970
636,565
18,182
22. SHORT TERM LOAN

Bank Overdraft & LTR
National Credit and Commerce Bank Limited-note
Jamuna Bank Limited - note 22.4
State Bank of India - note 22.5
Bank Asia Limited - note 22.6
Social Islami Bank Limited - note 22.7
First Securities Islami Bank Limited - note 22.8
2013
Taka I
22.1, 22.2 & 22.3
212,287,806
61,375,063
66,253,263
58,779,501
48,955,295
11,131,537
458,782,466
2012
Taka
266,825,443
6,282,491
120,017,290
437699,519
436,824,743
22.1 The facility from National Credit and Commerce Bank Limited (NCCBL) was secured against mortgage of
land measuring 3.03 acres (Tk 30,000,000), second charge on plant & machinery (Tk 20,000,000) since 1st
charge created by Investment Corporation of Bangladesh (ICB), 1st charge on stores & spares (Tk
10,000,000), raw materials and finished goods (Tk 20,000,000) and fixed & floating assets (Tk 10,000,000).
In addition 1st charge on fixed and floating assets of the Company relating to development! expansion unit
to the extent of Tk 180,000,000 for Term Loan facilities from NCCBL, Khatungonj Branch, Chittagong.
22.2 Share certificate of Aramit Limited issued in favour of Asif Steel Limited - face value of such share certificate
is Tk 3,993,610 (399,361 number of shares of Tk 10 each) and in favour of Javed Steel Mills Limited - face
value of such share certificate is Tk 7,987,170 (798,717 number of shares of Tk 10 each) - was deposited
with National Credit and Commerce Bank Limited, Khatungonj Branch, Chittagong as lien against Term
Loan facilities.
22.3 Assets of Aramit Limited to the extent of Tk 40,000,000 (Tk 10,000,000 on stores & spares, Tk 10,000,000
on raw materials and finished goods and Tk 20,000,000 on fixed and floating assets) has been mortgaged
as first charge in favour of National Credit and Commerce Bank Limited, Khatungonj Branch, Chittagong for
Term Loan facilities of ACL.
22.4 LTR with Jamuna Bank Limited, Agrabad Branch, Chittagong secured against Personal Guarantee of Mr.
Saifuzzaman Chowdhury and Ms. Rukhmila Zaman and Corporate Guarantee of Aramit Group and post
dated cheques.
22.5 Term loan and LTR with State Bank of India, Chittagong secured against equitable mortgage of 0.065 acre
of land belonging to Mr. Saifuzzaman Chowdhury, corporate guarantee of Aramit Limited, registered
hypothecation of stocks (raw materials imported through SBI), other stocks, receivables, spares, book debts,
accessories and other current assets, plant and machinery and registered mortgage of project land of the
company on first ranking pari-passu basis with NCCBL
22.6 LTR with Bank Asia Limited, - Agrabad Branch, Chittagong against hypothecation of goods and Book debts
charge on all fixed and floating assets, personal guaranty of Mr.Saifuzzaman Chowdhury, Mrs. Rukhmila
Zaman and Mr. S.M. Jamal Ahmed, personal guaranty of directors, post dated cheques.
22.7 LTR with Social Islami Bank Limited in Jubilee Road Branch, chittagong against personal guarantee of
directors, post dated cheques.
22.8 LTR with First Secuirity Bank Limited, Agrabad Branch, Chittagong against hypothecation of raw materials,
personal gurantee of directors, post dated cheque and corporate guarantee of Aramit Group.
2013
Taka
23. DUE TO ARAMIT LIMITED (AL)

Opening balance

Fund received during the year
Interest charged during the year - note 30

Closing balance
2012
Taka
110,089,676
47,095,648
157,185,324
11,104,212
168,289,536
(55,924,962)
112,364,574
100,333,500
59,507,010
159,840,510
10,418,068
170,258,578
(60,168,902)
110,089,676
Short-term loan extended by Aramit Limited (AL) to Aramit Cement Limited (ACL) based on respective
Company's Board's decision wherein it was decided to treat the financing provided to ACL as short-term
loan carrying interest @ 10% per annum from January 1996 to August 2005 and thereafter 5%
computed on the monthly opening product and further interest @ 13% from 01 October 2010 and
furthermore interest @ 10% from 01 January 2011.
24. DIVIDEND
24.1 UNCLAIMED DIVIDEND
Year wise breakup
Interim - 2000
Final -2000
Final -2001
Final -2002
Final -2007
Final -2009
Final -2012
96,180
70,740
538,590
795,425
2,693,474
461,446
4,141,227
8,797,082
24.2 PROPOSED DIVIDEND

Proposed dividend
-
-
96,180
70,740
538,590
795,425
2,693,474
461,446
4,655,855
16,940,000
16,940,000
25. CONTINGENT LIABILITIES AND COMMITMENTS

25.1 There were no claims legal or otherwise, not acknowledged as debt, outstanding as of the statement
of financial position date.
25.2 There is no bank guarantee as of the statement of financial position date.
2013
Taka
26. REVENUE
26.1 The make-up
Gross Proceeds from sales:
Local
Export
Deductions there from:
Value Added Tax (VAT)
836,667,706
143,868,050
980,535,756
1,017,960,086
216,915,264
1,234,875,350
1109,130,570)
871,405,186
(132,777,402)
1,102,097,948
26.2 Analysis there of

346,165,278
Through dealers
242,718,889
Non dealers
138,652,969
Institution and Others
143,868,050
Export
871,405,186
27, COST OF GOODS SOLD
Raw materials - note 27.1
Packing materials - note 27.2
Factory overhead - note 27.5
Opening work in process
Closing work in process - note 6.1
2012
Taka
438,760,558
272,086,399
174,335,727
216,915,264
1,102,097,948
500,141,782
48,678,839
121,357,860
8,427,760
(2,125,692)
676,480,549
719,190,289
62,187,038
107,710,027
6,849,315
(8,427,760)
887,508,909
27.1 Raw materials consumed - notes 27 & 27.4

79,946,923
Opening inventory
451,204,973
Purchase during the year - note 27.3.1
531,151,896
Raw materials available for use
(31,010,114)
Closing inventory - note 6.1
500,141,782
72,358,547
726,778,665
799,137,212
(79,946,923)
719,190,289
27.2 Packing materials consumed - notes 27 & 27.4

Opening inventory
Purchase during the year - note 27.3.2
Packing materials available for use
Closing inventory - note 6.1
27.3 Material Purchase - costs & direct charges

27.3.1 Raw materials - note 27.1
Imported
Indigenous
27.3.2 Packing materials - note 27.2

Indigenous
1,968,640
49,494,646
51,463,286
(2,784,447)
48,678,839
1,010,793
63,144,885
64,155,678
(1,968,640)
62,187,038
412,336,615
38,868,358
451,204,973
660,136,378
66,642,287
726,778,665
49,494,646
63,144,885
27.4 Analysis of materials consumed - notes 27, 27.1 & 27.2

2013

Quantity (MI)
Taka
Clinker
116,617
Slag
18,302
Gypsum
2,485
137,404
Paper Bags No.

Total
2,190,686
2012
Quantity (MT)
Taka
435,246,426
153,828
640,474,940
57,042,400
7,852,955
25,299
72,570,966
1,900
500,141,781
181,027
6,144,383
719,190,289
48,678,840
3,000,749
548,820,621
62,187,038
781,377,327
27.5 FACTORY OVERHEAD - note 27

Personnel expenses:

15,889,917

5,495,313

2,277,721

3,154,951

1,578,858

784,432

320,999
29,502,191
25,956,812
Depreciation - note 3.3
23,452,854
22,491,901
Electricity
37,421,764
34,469,661
Stores consumption
Vehicle running expenses
13,943,045
9,989,847
8,041,038
2,070,847
7,609,808
1,248,839
2,401,450
1,719,038
624,161
2,217,856
Salary, wages and allowances

Overtime
Bonus
Casual labour
Gratuity - note 19.2
Provident fund
Welfare and benefits
Repairs and maintenance

Entertainment
Factory insurance
Rates, taxes & renewal fees
Carrying & handling
Office supplies & stationery
133,550
425,487
14,687,977
4,387,074
1,368,076
2,944,117
1,448,869
748,821
371,878
1,664,494
1,453,023
108,544
494,658
Traveling and conveyance

Testing fee
711,573
73,387
Generator running expenses
102,006
12,856
Telecommunication expenses
100,796
324,389
167,167
Newspapers & periodicals
8,480
Postage & courier
1,515
93,633
11,326
19,891
121,357,860
107,710,027
2013
Taka
2012
Taka
28. GENERAL AND ADMINISTRATIVE EXPENSES

Personnel expenses:
Salary and allowances
Overtime
Bonus
Casual Labour
Provident fund
Welfare and benefits
Office rent, rates & renewal fees
AGM expenses
Legal & professional fees
Depreciation - note 3.3
Telephone & fax
Trustee fee for Redeemable Debenture
Vehicle running expenses
Entertainment
Subscription
Donation
Repairs and maintenance
Advertisement
Utility expenses - Dhaka Share office
Director's fees
Audit fees
Insurance
Postage & courier
Board meeting expenses
Newspapers & periodicals
Uniform & Liveries
29. SELLING AND DISTRIBUTION EXPENSES
Personnel expenses:

Salary and Allowances

Overtime

Bonus

Provident fund

Welfare & benefits

Expenses for Export
Sales

Advertisement

Vehicle running
expenses
Entertainment



Telephone

Insurance

Postage and courier
9,467,709
715,975
927,029
238,603
836,993
341,672
190,085
12,718,066
3,839,294
886,194
528,341
1,190,537
230,533
-
729,901
515,858
562,000
427,940
407,197
435,320
283,029
439,565
9,128
302,400
70,000
172,854
29,928
248,574
15,994
319,755
24,362,408
8,754,077
792,841
552,866
329,482
460,729
305,310
200,863
11,396,168
3,722,128
900,247
230,667
1,228,326
207,756
213,800
831,062
279,799
596,544
325,889
222,977
315,218
16,275
420,610
86,180
337,000
70,000
246,060
9,228
77,016
10,462
21,743,412
4,634,392
191,053
518,727
591,947
254,354
42,405
6,232,878
17,970,975
2,775,242
2,176,152
748,666
51,047
434,859
101,099
55,237
18,646
30,564,801
3,863,314
239,865
389,296
415,399
225,793
66,255
5,199,922
18,733,274
2,391,218
1,980,957
699,417
74,586
411,640
103,294
83,815
7,132
29,685,255
2013
2012
Taka IETaka
30. FINANCIAL EXPENSES

Bank interest
85,271,551
Interest on debentures
461,494
Interest on loan from Aramit Limited - note 23
11,104,213
Bank charges
814,671
97,651,929
31. OTHER OPERATING INCOME
Interest earned on:
Short term loan to Aramit Power Limited - note 10
7,627,633
Short term loan to Aramit Thai Aluminium Limited - note 11
1,071,056
Short term loan to Aramit Steel Pipes Limited - note 12
904,055
Short term loan to Aramit Alu Composite Panels Limited - note 13
4,786,832
Interest income on FDR & STD
189,506
14,579,082
32. NET ASSETS VALUE PER SHARE
Net Assets Value per Share (Basic)
7,236,777
677,918
803,452
3,994,390
265,299
12,977,836
16.22
13.65
2.56
3.03
33. EARNING PER SHARE (EPS)

Earning per share (Basic)
34. OPERATING CASH FLOW PER SHARE
Operating cash inflow! (outflow) per share (Basic)
88,819,980
2,139,264
10,418,068
677,455
102,054,767
4.21
7.33
35. RELATED PARTY TRANSACTIONS

The Company carried out a number of transactions with related parties in the normal course of business on arms
length basis.
SI No.
Name of the Party
Relation
Nature of Transaction
Sale of Finished Product
Short-term loan facilities
availed with interest
2013
Taka
2012
Taka
Aramit Limited - note 23
Associated
Company
Aramit Thai Aluminium

Limited - note 11
Associated Sale of Finished Product

Short-term loan facilities
Company
allowed with interest
20,053,604
4,528,244
Aramit Footwear Limited -

Note 9
Associated Short-term loan facilities

Company allowed with interest
137,269,963
104,376,568
66,515,190
58,269,727
7,475,638
6,542,725
39,453,058
34,684,023
29,242,079
31,891,975
Aramit Power Limited -

note 10
Aramit Steel Pipes Limited

- note 12
Aramit Alu Composite
Panels Limited - note 13
North South Transport
Limited - note 8.4

allowed with interest and
Company
purchase of services
Associated Financing and purchase of
Company service
(112,364,574)
2013
Taka
36. AUDITOR'S REMUNERATION
Audit Fee - Statutory
37. NUMBER OF EMPLOYEES

Employees drawing salary above 1k 3,000 per month
Employees drawing salary 1k 3,000 or below per month
Total
(110,089,676)
2012
Taka
70,000
70,000
70,000
70,000
Persons
Persons
147
140
147
141
38. REMUNERATION OF DIRECTORS, MANAGERS, EXECUTIVES & OFFICERS

December 31, 2012
December 31, 2013

Other
Managing
Other
Managing

Executives
Director
Total
Executives
Director

Taka
Taka
Taka
Taka
Taka
Particulars
Salaries and allowances 2,400,000
-
Medical expenses
2,400,000
16,114211
235,335
16,349,546
18,514,211
235,335
18,749,546
2,400,000
-
21400,000
13,654,222
222,809
13,877,031
Total
Taka
16,054,222
222,809
16,277,031
In 2013 there were 147 number of employees and in 2012 there were 141 number of employees - excluding Managing
Director.
The Executive Director, General Manager (Commercial) and one Executive of Aramit Limited who over-see & work, as
such, for the Company (ACL) have been remunerated on a monthly lump sum basis.
The General Manager (Accounts) and General Manager (Operation) are each provided, primarily for the Company's
business, with a chauffeur driven car at the Company's cost.
Company (ACL) reimburses the Chief Financial Officer and General Manager (Operation) residential telephone charges
up to a set limit as being incurred for the Company's business.

2013

M. Ton

210,000

138,784
66.09
39. CAPACITY & PRODUCTION

Production Capacity (In M. Ton)
Actual Production (In M. Ton)
Capacity Utilization (%)
2012
M. Ton
210,000
179,485
85.47
40. EVENT AFTER THE REPORTING PERIOD

The Board of Directors in their meeting held on 10 March, 2014 recommended 10% Cash dividend for the year ended
December 31, 2013 which is subject to approval of the shareholders in the ensuing Annual General Meeting.
41. GENERAL
41.1 Wherever considered necessary, previous period's figures & phrases have been re-arranged to conform to this
period's presentation.
41.2 The amounts in these financial statements have been rounded off to the nearest Taka.
41.3 Bracket figure denotes negative.
COMPANY SECRETARY
DIRECTOR
PROXY FORM
I / We
of
being shareholder(s) of Aramit Cement Limited and entitled to
vote hereby appoint Mr./Mrs./Miss

as my / our proxy to attend and vote for me /us and on my! our behalf at the 18th Annual General Meeting of
the Company to be held on Thursday, 10 April 2014 and adjournment thereof and the poll that may be taken
in consequence thereof.
As witness my! our hand this
day of
2014.
Signature of
Signature of Shareholder(s)
Revenue
Stamp
of Tk 10.00
Proxy
Folio/B.0 ID No
No. of Shares
Date
Signature of Witness
(Signature of Shareholder (s) must in accordance with specimen signature with the Company)
ATTENDANCE
I hereby record my presence at the 18th Annual General Meeting of Aramit Cement Limited at Hotel Saint
Martin, Agrabad, Chittagong on Thursday, 10 April 2014, at 12:00 pm.
Full Name of the Shareholder

(in block letter)
Register Folio/B.0 ID No.
holding of
Ordinary
Shares of Aramit Cement Limited.
Signature of Shareholder(s)
(SHAREHOLDERS ARE REQUESTED TO HAND OVER THE ATTENDANCE SLIP AT THE ENTRANCE OF THE MEETING HALL)
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ad@aramltgroup.com
Share office
Rangpur House (5th Floor)
House#62,Flat# 105,Road #3,BIocktB
Niketon,Gulshan-1, Dhaka-1 212, Bangladesh.
Tel (88 02) 9887176,9881095
Fax :(88 02) 9851551
E-mail : shares@aramitgroup.com
www.aramitgroup.com
. . .

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aramit cement limited

SHARE HOLDING POSITION (31.12.2013)

Standard Bank Limited

A) Liquidity & Solvency Ratios

Janata Bank Limited

2. Acid test ratio

Bank Asia Limited

1. Cost of sales to sales

2. Operating expenses to sales

2. Net profit before income tax to sales %

3. Net profit after income tax to sales

1. Inventory turnover ratio

2. Inventory holding period

United Commercial Bank Limited

4. Earning Profit per share (Basic)

17TH ANNUAL GENERAL MEETING

kl,*1 . ,i. 7...

To declare Dividend for the year 2013.

To transact any other business with the permission of the Chair.

(Muhammed Shah Alam, FCMA)

BOARD OF DIRECOTRS 2013

Managing Director (CEO)

Aramit Cement Limited

Jiban Bima Bhaban (3rd Floor)

Chief Financial Officer

Assistant Managing Director

for the year ended 31 December 2013

Installed Capacit y (in metric Ions)

Profit before income tax

Provision for income tax

Profit after income tax

Contribution to the National Exchequer

Value Added Tax

Advance Income Tax

181,558,586 254,629,482 215,084,747 214,685,006

Discussion on continuity of any Extra-Ordinary gain or loss

Related Party Transaction

Utilization of IPO proceeds and financial results after IPO

Significant variance between quarterly and annual financial performance

Outlook and possible future development

Welfare activities extended to employees

Corporate Social Responsibility

S.M. Jamal Ahmed

Cost of Goods Sold

Cost of Goods Sold

hinm p nf th p fl.rp ctnrs

Cement manufacturing has an impact on the surrounding environment. Cement

Lime Stone & Slag

Tested and Standard PSI

Tested by BU ET for ACL

Bangladesh Development Bank Ltd.

Investment Corporation of Bangladesh

The company is not

5.000% Repsenented by Ms. Dina Ahsan

Represented by 3.571% Mr. Nasir Uddin Ahmed

Report of the status of compliance of corporate governance Annexure - A

The Directors' Report to Shareholders

A discussion on Cost of Goods sold, Gross

Key operating and financial data of at least preceding 5

The minutes of Board Meeting of the subsidiary

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