Balance Sheet

Assets
Non Current Assets

Property Plant & Equipment

Other non-current assets
Total Non Current Assets
Current Asssets
Inventory
Trade & other receivables
Cash & cash equivalents
Advances, Deposits & Payments
Short Term Deposits
Total Current Assets
Total Assets
Equity and Liabilities
Capital and reserves
Stated capital
Share Premium
Revaluation Reserve
Retained Earnings
Shareholders' funds
Total Equity
Non Current Liabilities
Interest Bearing Borrowings
Obligation under finance & operating leases
Total Non Current Liabilities
Current Liabilities
Other current liabilities
Bank overdrafts
Total Current Liabilities
Total Owners Equity & Liabilities
Book value per share

2010

2011

2012

2013

303827169.00
3941444.00
307768613.00

276301703.00
2956083.00
279257786.00

271668749.00
1970722.00
273639471.00

406222185.00
985361.00
407207546.00

268575640.00
62165497.00
33567476.00
95162191.00
0.00
459470804.00
767239417.00

319001200.00
118081196.00
42936115.00
132987211.00
0.00
613005722.00
892263508.00

341995981.00
65494515.00
33003650.00
192032791.00
0.00
632526937.00
906166408.00

456611276.00
117262842.00
53187813.00
202408043.00
0.00
829469974.00
1236677520.00

80400000.00
134000000.00
45845841.00
85362056.00
345607897.00
345607897.00

80400000.00
134000000.00
45845841.00
91439534.00
0.00
351685375.00

92460000.00
134000000.00
45845841.00
100713274.00
0.00
373019115.00

106329000.00
134000000.00
45845841.00
115919116.00
0.00
402093957.00

76177130.00
0.00
76177130.00

53072760.00
0.00
53072760.00

51859719.00
0.00
51859719.00

138100661.00
0.00
138100661.00

16970291.00
328484099.00
345454390.00
767239417.00
42.99

14204449.00
473300924.00
487505373.00
892263508.00
43.74

13489054.00
467798520.00
481287574.00
906166408.00
40.34

18010668.00
678472235.00
696482903.00
1236677521.00
37.82

2014
439923411.00
0.00
439923411.00
824162140.00
156015292.00
66119950.00
235604911.00
0.00
1281902293.00
1721825704.00

122278350.00
134000000.00
45845841.00
137801027.00
0.00
439925218.00
117993920.00
4859930.00
122853850.00
18125186.00
1140921450.00
1159046636.00
1721825704.00
35.98

Assets
Non Current Assets

in Million Taka OA1

FA1

OA2
OA3
S
OA4
FA2

FL1
FL2

OL1
FL3

in Taka

Property Plant & Equipment

Other non-current assets
Total Non Current Assets
Current Asssets
Inventory
Trade & other receivables
Cash & cash equivalents
Advances, Deposits & Payments
Short Term Deposits
Total Current Assets
Total Assets
Equity and Liabilities
Capital and reserves
Stated capital
Share Premium
Revaluation Reserve
Retained Earnings
Shareholders' funds
Total Equity
Non Current Liabilities
Interest Bearing Borrowings
Obligation under finance & operating leases
Total Non Current Liabilities
Current Liabilities
Other current liabilities
Bank overdrafts
Total Current Liabilities
Total Owners Equity & Liabilities
Book value per share

2010
303.83
3.94
307.77

2011
276.30
2.96
279.26

2012
271.67
1.97
273.64

2013
406.22
0.99
407.21

2014
439.92
0.00
439.92

268.58
62.17
33.57
95.16
0.00
459.47
767.24

319.00
118.08
42.94
132.99
0.00
613.01
892.26

342.00
65.49
33.00
192.03
0.00
632.53
906.17

456.61
117.26
53.19
202.41
0.00
829.47
1236.68

824.16
156.02
66.12
235.60
0.00
1281.90
1721.83

80.40
134.00
45.85
85.36
345.61
345.61

80.40
134.00
45.85
91.44
0.00
351.69

92.46
134.00
45.85
100.71
0.00
373.02

106.33
134.00
45.85
115.92
0.00
402.09

122.28
134.00
45.85
137.80
0.00
439.93

76.18
0.00
76.18

53.07
0.00
53.07

51.86
0.00
51.86

138.10
0.00
138.10

117.99
4.86
122.85

16.97
328.48
345.45
767.24
42.99

14.20
473.30
487.51
892.26
43.74

13.49
467.80
481.29
906.17
40.34

18.01
678.47
696.48
1236.68
37.82

18.13
1140.92
1159.05
1721.83
35.98

2010
303.8272
268.5756
62.1655
95.16219
3.64667
733.3772

2011
276.3017
319.0012
118.0812
132.9872
4.407472
850.7788

OA1
OA2
OA3
OA4
S
TOA

Property Plant & Equipment

Inventory
Trade & other receivables
Advances, Deposits & Payments
Cash & cash equivalents

OL1
TOL
NOA

Other current liabilities

16.97029 14.20445
16.97029 14.20445
716.4069 836.5743

FA1
FA2
S
TFA

Other non-current assets

Short Term Deposits
Cash & cash equivalents

3.941444 2.956083
0
0
29.92
38.53
33.86225 41.48473

FL1
FL2
FL3
TFL
NFL

Interest Bearing Borrowings

Obligation under finance & operating leases
Bank overdrafts

76.17713 53.07276
0
0
328.4841 473.3009
404.6612 526.3737
370.799 484.889

CSE
Check

345.6079 351.6854
1
1

2012
271.6687
341.996
65.49452
192.0328
4.518355
875.7104

2013
406.2222
456.6113
117.2628
202.408
6.050628
1188.555

2014
439.9234
824.1621
156.0153
235.6049
7.441425
1663.147

13.48905 18.01067 18.12519

13.48905 18.01067 18.12519
862.2213 1170.544 1645.022
1.970722 0.985361
0
0
0
0
28.49
47.14
58.68
30.45602 48.12255 58.67852
51.85972
0
467.7985
519.6582
489.2022
373.0191
1

138.1007
0
678.4722
816.5729
768.4504

117.9939
4.85993
1140.921
1263.775
1205.097

402.094 439.9252
0
1

2010
Revenue
Costs of Sales
Gross Profit
Administrative expenses
Depreciation and amortization
Net Finance costs
Operating Profit/ (loss)
Finance Expenses
Other revenues and profits
Negative Goodwill
Profit / (loss) Before Tax
Employee benefits expenses
Income Tax Expense
Profit / (loss) for the Period
The number of shares
Earnings Per Share - Basic
Dividend Per Share

729333960.00
-539830305.00
189503655.00
-64437512.00
-55276802.00
0.00
69789341.00
-49723015.00
8689774.00
28756100.00
-1437805.00
-7807094.00
19511201.00
8040000.00
2.43
0.00

2011

2012

2013

2014

881494445.00 903671075.00 1210125683.00 1488285009.00

-723296170.00 -730641487.00 -978491860.00 -1222626135.00
158198275.00 173029588.00 231633823.00
265658874.00
-69882973.00
-73329064.00 -103358328.00
-114844254.00
0.00
0.00
0.00
0.00
0.00
0.00
-86530318.00
-97611499.00
88315302.00
99700524.00
41745177.00
53203121.00
-54428988.00
-69636717.00
0.00
0.00
7178190.00
1541734.00
1328662.00
1724300.00
41064504.00
-2053225.00
-18461801.00
20549478.00
8040000.00
2.56
0.00

31605541.00
-1580277.00
-8691524.00
21333740.00
9246000.00
2.31
0.00

43073839.00
-2153692.00
-11845305.00
29074842.00
10632900.00
2.73
0.00

54927421.00
-2746371.00
-14349789.00
37831261.00
12227835.00
3.09
0.00

INCOME STATEMENT
2010
in Million

in Taka

Revenue
Costs of Sales
Gross Profit
Administrative expenses
Depreciation and amortization
Net Finance costs
Operating Profit/ (loss)
Employee benefits expenses
Net Finance costs
Finance Expenses
Other revenues and profits
Negative Goodwill
Profit / (loss) Before Tax
Income Tax Expense
Profit / (loss) for the Period
The number of shares
Earnings Per Share - Basic
Dividend Per Share
tax

729.33
-539.83
189.50
-64.44
-55.28
0.00
69.79
-1.44
0.00
-49.72
8.69
28.76
-7.81
19.51
8.04
2.43
0.00
27%

2011

2012

2013

2014

881.49
-723.30
158.20
-69.88
0.00
0.00
88.32
-2.05
0.00
-54.43
7.18

903.67
-730.64
173.03
-73.33
0.00
0.00
99.70
-1.58
0.00
-69.64
1.54

1210.13
-978.49
231.63
-103.36
0.00
-86.53
41.75
-2.15
-86.53
0.00
1.33

1488.29
-1222.63
265.66
-114.84
0.00
-97.61
53.20
-2.75
-97.61
0.00
1.72

41.06
-18.46
20.55
8.04
2.56
0.00

31.61
-8.69
21.33
9.25
2.31
0.00

43.07
-11.85
29.07
10.63
2.73
0.00

54.93
-14.35
37.83
12.23
3.09
0.00

45%

28%

27%

26%

49.72

54.43

69.64

0.00

7.81

18.46

8.69

11.85

0.00

14.35

CF Statement

Cash received from customers

Payment to suppliers, employees and others
Other payments
Net Cash Generated from Operating Actvities
Cash Flow from Investing Activities
Purchase of Property, Plant & Equipment
Other Cash flows
Profit from disposal of Fixed Assets
Net Cash Flow from Investing Activities
Cash Flow From Financing Activities
Proceeds from Loans
Other Cash flows
Loan repayment
Dividends Paid - Preference Shares
Net Cash Flow Financing Activities
Foreign currency translation adjustment
Increase (decrease) in Cash
Cash at the begning of the period
Cash at the end of the period

2010

2011

2012

2013

762673673.00
(705884302.00)
0.00
56789371.00

832756936.00
(753804078.00)
0.00
78952858.00

957799490.00
(920999571.00)
0.00
36799919.00

1158416018.00
(1013731664.00)
0.00
144684354.00

(105275336.00)
0.00
0.00
(105275336.00)

(21720613.00)
0.00
0.00
(21720613.00)

(43123199.00)
0.00
0.00
(43123199.00)

(216210615.00)
0.00
1270000.00
(214940615.00)

146366004.00
0.00
(123428422.00)
(14472000.00)
8465582.00
0.00
(40020383.00)
73587859.00

3390000.00
0.00
(37255257.00)
(14472000.00)
(48337257.00)
0.00
8894988.00
33567476.00

32056755.00
0.00
(35665940.00)
0.00
(3609185.00)
0.00
(9932465.00)
42936115.00

153707280.00
(18860370.00)
(44406487.00)
0.00
90440423.00
0.00
20184162.00
33003650.00

42462464.00

33003650.00

53187812.00

33567476.00

2014
1449546859.00
(1292570832.00)
0.00
156976027.00
(108525883.00)
0.00
1710000.00
(106815883.00)
44996844.00
(30240374.00)
(51984478.00)
0.00
(37228008.00)
0.00
12932136.00
53187813.00
66119949.00

CF Statement

Cash received from customers

Payment to suppliers, employees and others
Other payments
Net Cash Generated from Operating Actvities
Cash Flow from Investing Activities
Purchase of Property, Plant & Equipment
Other Cash flows
Profit from disposal of Fixed Assets
Net Cash Flow from Investing Activities
Cash Flow From Financing Activities
Proceeds from Loans
Other Cash flows
Loan repayment
Dividends Paid - Preference Shares
Net Cash Flow Financing Activities
Foreign currency translation adjustment
Increase (decrease) in Cash
Cash at the begning of the period
Cash at the end of the period

2010

2011

762.67
-705.88
0.00
56.79

832.76
-753.80
0.00
78.95

-105.28
0.00
0.00
-105.28

-21.72
0.00
0.00
-21.72

146.37
0.00
-123.43
-14.47
8.47
0.00
-40.02
73.59

3.39
0.00
-37.26
-14.47
-48.34
0.00
8.89
33.57

33.57

42.46

2012

2013

2014

957.80
-921.00
0.00
36.80

1158.42
-1013.73
0.00
144.68

1449.55
-1292.57
0.00
156.98

-43.12
0.00
0.00
-43.12

-216.21
0.00
1.27
-214.94

-108.53
0.00
1.71
-106.82

32.06
0.00
-35.67
0.00
-3.61
0.00
-9.93
42.94

153.71
-18.86
-44.41
0.00
90.44
0.00
20.18
33.00

45.00
-30.24
-51.98
0.00
-37.23
0.00
12.93
53.19

33.00

53.19

66.12

123.43

37.26

35.67

44.41

51.98

Capital Structure Analysis NPOLY

year
Debt Ratio
Debt to Equity Ratio
Financial Leverage
Operation Liability Leverage
NFO

2010
0.10
0.22
1.07
0.02
FLOW

Interest Coverage Ratio

Debt Service Coverage Ratio
Cash Flow Coverage Ratio

1.40
0.40
0.33
Check list
74.6%
0.21
95.06%
1.00
0.06

Tangibility
Uncertainty of Operating Income
Sales Stability
Retentation Rate
Growth Rate

Profitability
Return on Asset
Return on Equity
Operating Profit Margin
NOA(Net operating Asset)
Return on Net Operating Asset (RNOA)

2.5%
5.6%
10%
716
9.7%
OWNERSHIP

Sponsor Ownership :
No. of Shares
Percentage

182,750
22.73%

Financial Instution ownership:

No. of Shares
Percentage

252,180
31.37%

Free Float Ownership:

No. of Shares
Percentage

369,070
45.90%

Dividend Policy Analysis of NPOLY From

2010

Cash Dividend
PerDividend
Share
Stock
Per Share
TD(Total Dividend)
Earning Per Share (EPS)
Diluted
Earning Per Share
Dividend Payout Ratio
Rescalled EPS
Rescalled Dividend Per
Share
Operating
Cash Flow
Per
Share
Free
Cash
Flow
Per Share
Market Price
Instituational Ownership
Free Float Ownership:
Sponsor Ownership
GDP Growth

0
18%
18%
2.43
1.60
0
0
7.06
0.00
89.32

31.37%
45.90%
22.73%
6.50%

EBIT
Mean
SD
CV_EBIT

Capital Structure Analysis NPOLY

2011
0.06
0.15
1.38
0.02

2012

2013
0.06
0.14
1.31
0.02

0.11
0.34
1.91
0.02

1.43
0.95
0.35

#DIV/0!
0.94
3.28

FLOW
1.62
0.96
0.87
Check list
66.7%
0.31
98.79%
1.00
0.06

67.7%
0.19
99.72%
1.00
0.06

69.8%
0.16
97.85%
1.00
0.07

Profitability
2.3%
5.8%
10%

2.4%
5.7%
11%

2.4%
7.2%
3%

11.6%

3.6%

10.6%
OWNERSHIP
182,750
22.73%

2,101,625
22.73%

2,416,868
22.73%

257,680
32.05%

3,001,900
32.47%

4,268,597
40.15%

363,570
45.22%

4,142,475
44.80%

3,947,445
37.12%

olicy Analysis of NPOLY From 2010 To 2014

2011

2012

2013

6.50%

0
15%
15%
2.56

0
15%
15%
2.31

0
15%
15%
2.73

1.68
0
2.56
0
9.82
-7.88
62.6

1.74
0
2.65
0
3.98
5.77
36.7

2.38
0
3.14
0
13.61
-25.54
56.1

32.05%
45.22%
22.73%

32.47%
44.80%
22.73%

40.15%
37.12%
22.73%

6.00%

6.20%

CV_EBIT (3 years moving Average)

2008

2009

2010

19.2478

22.1573

28.7561
23.3870666667
4.8719797581
0.21

2014
0.07
0.27
2.74
0.01

#DIV/0!
1.02
3.03

73.4%
0.27
86.44%
1.00
0.09

2.2%
8.6%
4%
3.2%

6,316,541
51.66%

799,708
6.54%

5,111,586
41.80%

2014

0
18%
18%
3.09

2010
NOA

3.09
0
3.56
0
12.84
-26.97
66.5

716.41

NOA
OCF
FCF

6.54%
41.80%
51.66%
6.50%

verage)

2011
41.064504
30.6593013333
9.5962087441
0.31

2012

2013

2014

31.60554 43.07384 54.9274

33.80872 38.58129 43.20227
6.443189 6.12415 11.66147
0.19
0.16
0.27

2011

2012

2013

836.57

862.22

1170.54

120.17
56.79
-63.38

25.65
78.95
53.31

308.32
36.80
-271.52

2014
1645.02
474.48
144.68
-329.79