AFTAB AUTOMOBILES LIMITED

HALF-YEARLY REPORT

2012-2013
Dear Shareholders,
We are pleased to forward herewith this half yearly un-audited financial statements which consist of consolidated
statement of financial position as at 28 February 2013, consolidated statement of comprehensive income, consolidated
statement of changes in equity and consolidated statement of cash flows for the half year ended on that date.

Sd/Managing Director

Dated, Dhaka.
March 28, 2013

Aftab Automobiles Limited and its Subsidiaries

Un-Audited consolidated Statement of Comprehensive Income
For the half year ended February 28,2013
(Amount in "000" Tk. )

Half year ended

Half year ended

28/02/13

29/02/12

3-Months
ended
28/02/13

3-Months ended
1/12/11 to
29/02/12

Particulars

BD Taka

BD Taka

BD Taka

BD Taka

Revenues

1,838,702

1,691,754

Less: Cost of sales

1,445,385

1,303,210

947,150
753,002

Gross profit

393,317

388,544

1,005,623
815,149
190,474

Less: Operating expenses

188,947

159,322

74,617

42,124
76,091
70,732

35,920
58,904
64,498

89,580
24,852
30,167
34,561

204,370

229,222

100,894

119,531

49,615

42,415

27,302

22,126

253,985

271,637

141,657

67,146

63,181

128,196
41,647

186,840

208,456

86,550

104,825

880

(3,368)

78

(1,268)

187,720

205,088

86,628

1,243,825

187,701

205,080

86,617

1,243,821

Administrative expenses
Selling and distribution expenses
Financial charges
Operating profit
Add:Other income
Profit before tax
Less: Income tax expense
Net income for the Period
* Other comprehensive income for the Period
Total comprehensive income for the Period

194,148

19,361
21,401
33,855

36,832

Attributable to:
Equity holders
Non-controlling interests
Total comprehensive income for the period
Earnings per share

19

11

187,720

205,088

86,628

1,243,825

2.19

2.44

1.01

1.23

* Investment in shares were classified as held for maturity at the time of purchased of these shares because the market price
thereof was not available then. The investee company is presently listed in the market and reclassification from held for maturity
to held for trading is required as per BAS 28. We have reclassified this investment in these financial statements. Hence Other
comprehensive income for the period has arisen for considering the market price of the shares of the investee company and
comparative figures are restated accordingly.

Sd/Managing Director

Sd/Company Secretary

Aftab Automobiles Limited and its Subsidiaries

Un-Audited consolidated Statement of Financial Position
As at February 28, 2013
Amount in '000' Tk

28/02/13

31/08/12

BD Taka

BD Taka

Assets :
Non-current assets
Property, plant and equipment
Capital work in progress
Investments in share at market value
(comparative figure is restated)
Investments in association
Total non-current assets

958,264
241,265
6,684

974,465
241,265
5,805

229,359
1,435,572

229,359
1,450,894

Current assets
Stock and stores
Trade debtors
Income tax deducted at source
Advances, deposits and prepayments
Cash and bank balances
Total current assets :

1,202,563
1,126,483
339,159
1,192,639
890,676
4,751,520

1,125,949
1,463,199
282,573
1,269,903
867,445
5,009,069

Total Assets

6,187,092

6,459,963

Equity and Liabilities :

Capital & reserve
Share capital
Share premium
Reserve
Retained earnings
Equity attributable to equity holders
Non-controlling interest
Total equity

854,754
1,925,859
67,338
1,845,271
4,693,222
485
4,693,707

683,803
1,925,859
67,338
1,828,521
4,505,521
466
4,505,987

25,310
68,824
94,134

25,310
66,713
92,023

Current liabilities :
Short term loan
Accrued and other current liabilities
Total current liabilities :

689,506
709,745
1,399,251

996,661
865,292
1,861,953

Total liabilities

1,493,385

1,953,976

Total Equity and Liabilities

6,187,092

6,459,963

54.91

65.89

Non-current liabilities
Loan and deferred liabilities (unsecured)
Deferred Tax Liabilities
Total non-current liabilities

Net assets value per share (NAVPS )

Sd/Managing Director

Sd/Company Secretary

Aftab Automobiles Limited and its Subsidiaries

Un-audited consolidated Statement of Cash Flows
For the half year ended February 28, 2013
(Amount in "000" Tk. )

Particulars

Half year ended

Half year ended

28/02/13

29/02/12

BD Taka

BD Taka

A. Cash flows from operating activities

Receipts from customers
Receipts as other income
Payments to suppliers and employees

2,175,418
49,615
(1,686,759)

1,850,541
42,415
(1,492,570)

Cash generated from operations

538,274

400,386

Financial charges paid

Income tax paid

(70,732)
(56,586)

(64,498)
(55,228)

Net cash generated by operating activities

410,956

280,660

Acquisition of property, plant & equipment

Capital work in progress

(13,449)

(17,909)

(10,543)

Net cash used investing activities

(13,449)

(28,452)

Repayment of bank loan

Repayment of other Finance
Dividend paid

(307,155)
(67,121)
-

(63,135)
(84,163)
(113,967)

Net cash used in financing activities

(374,276)

(261,265)

B. Cash flows from investing activities

C. Cash flows from financing activities

D. Net changes in cash & cash equivalents for the period (A+B+C)

23,231

(9,057)

E. Cash & cash equivalents at beginning of the period

867,445

794,796

F. Cash & cash equivalents at end of the period (D+E)

890,676

785,739

4.81

Net operating cash flows per share (NOCFPS)

Sd/Managing Director

Sd/Company Secretary

Aftab Automobiles Limited and its Subsidiaries

Un-audited consolidated Statement of Changes in Equity
For the half year ended February 28,2013

Purticulars

(Amount in "000" Tk. )

Share
capital
BD Taka

Balance as on 1st September , 2011

569,836

Share
premium

Reserves

Issue of bonus share

Cash dividend
Comprehensive income for the period

Attributable
to equity
holders of the
company

Noncontrolling
interest

Total

BD Taka

BD Taka

BD Taka

BD Taka

BD Taka

BD Taka

1,925,859

67,338

1,520,386

4,083,419

424

4,083,843

4,083,419

424

4,083,843

8,122

Adj. for revaluation of Investment in share

Restated Balance as on 1st September , 2011

Retained
earnings

569,836
113,967

1,925,859

67,338

1,528,508

(113,967)

(113,967)

(113,967)

205,088

208,448

208,456

(113,967)

Balance at February 29, 2012

683,803

1,925,859

67,338

1,505,662

4,177,900

432

4,178,332

Balance as on 1st September , 2012

683,803

1,925,859

67,338

1,828,521

4,505,521

466

4,505,987

Issue of bonus share

170,951

Comprehensive income for the period

Balance at February 28, 2013

Sd/Managing Director

854,754

(170,951)

187,701

187,701

19

187,720

1,845,271

4,693,222

485

4,693,707

1,925,859

67,338

Sd/Company Secretary