SHIPPING COMPANY LTD

STATEMENT OF FINANCIAL POSITION (PROJECTED)

Year-1 Year-2 Year-3 Year-4 Year-5

Notes BDT BDT BDT BDT BDT
ASSETS:
Property, Plant & Equipment 2 45,116,150.00 45,116,150.00 45,116,150.00 45,116,150.00 45,116,150.00
Less: Accumulated Depreciation 9,023,230.00 16,241,814.00 22,016,681.20 26,636,574.96 30,332,489.97
Non-Current Assets 36,092,920.00 28,874,336.00 23,099,468.80 18,479,575.04 14,783,660.03
Accounts Receivable 3 9,319,860.00 9,319,860.00 9,319,860.00 9,319,860.00 9,319,860.00
Closing Inventory 4 664,200.00 797,040.00 851,836.50 896,670.00 941,839.75
Advances, Bank deposits, Prepayments 5 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00
Cash & Cash equivalent 6 21,960,542.77 34,977,856.19 44,382,038.80 52,920,705.10 60,672,001.36
Current Assets 32,044,602.77 45,194,756.19 54,653,735.30 63,237,235.10 71,033,701.11
TOTAL ASSETS 68,137,522.77 74,069,092.19 77,753,204.10 81,716,810.14 85,817,361.14

EQUITY:
Owner's Capital 1 42,000,000.00 42,000,000.00 42,000,000.00 42,000,000.00 42,000,000.00
Retained Earnings 7,611,122.77 16,501,975.89 23,455,852.85 31,032,247.02 39,124,560.04
49,611,122.77 58,501,975.89 65,455,852.85 73,032,247.02 81,124,560.04
Long Term Loan 18,305,000.00 15,334,646.30 12,053,257.76 8,428,264.95 4,423,688.03
67,916,122.77 73,836,622.19 77,509,110.60 81,460,511.97 85,548,248.06

Accounts Payable 7 221,400.00 232,470.00 244,093.50 256,298.18 269,113.08

TOTAL LIABILITIES 68,137,522.77 74,069,092.19 77,753,204.10 81,716,810.14 85,817,361.15
 SHIPPING COMPANY LTD
STATEMENT OF COMPREHENSIVE INCOME (PROJECTED)

Year-1 Year-2 Year-3 Year-4 Year-5

Notes BDT BDT BDT BDT BDT
CONTINUING OPERATIONS:
Revenue 8 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00
Less: Cost of Sales 9 15,923,800.00 14,876,560.00 13,747,073.50 12,849,130.00 12,183,491.92
Gross Profit 12,318,200.00 13,365,440.00 14,494,926.50 15,392,870.00 16,058,508.08
Less: Administrative Expenses 10 463,230.00 458,584.00 454,867.20 451,893.76 449,515.01
Trading Profit 11,854,970.00 12,906,856.00 14,040,059.30 14,940,976.24 15,608,993.07
Less: Financial Expenses 11 1,706,806.30 1,052,385.17 794,579.39 509,749.25 195,063.51
Profit Before Tax (PBT) 10,148,163.70 11,854,470.83 13,245,479.91 14,431,226.99 15,413,929.56
Income Tax 2,537,040.92 2,963,617.71 3,311,369.98 3,607,806.75 3,853,482.39
Net profit after tax 7,611,122.77 8,890,853.12 9,934,109.93 10,823,420.24 11,560,447.17
 SHIPPING COMPANY LTD
STATEMENT OF CASH FLOWS (PROJECTED)

Year-1 Year-2 Year-3 Year-4 Year-5

BDT BDT BDT BDT BDT
Cash Flow from Operating Activities:
Net profit before tax 7,611,122.77 8,890,853.12 9,934,109.93 10,823,420.24 11,560,447.17
Add: Adjustment for non cash items
Depreciation 9,023,230.00 7,218,584.00 5,774,867.20 4,619,893.76 3,695,915.01
16,634,352.77 16,109,437.12 15,708,977.13 15,443,314.00 15,256,362.18
Changes in:
Inventory (664,200.00) (132,840.00) (54,796.50) (44,833.50) (45,169.75)
Accounts receivable (9,319,860.00) - - - -
Advances, Bank deposits, Prepayments (100,000.00) - - - -
Accounts payable 221,400.00 11,070.00 11,623.50 12,204.68 12,814.91
(9,862,660.00) (121,770.00) (43,173.00) (32,628.83) (32,354.84)
Net Cash Provided by Operating Activities 6,771,692.77 15,987,667.12 15,665,804.13 15,410,685.18 15,224,007.34
Cash Flow from Investing Activities:
Acquisition of fixed assets (45,116,150.00) 0 0 0 0
Net Cash used in investing Activities (45,116,150.00) - - - -
Cash Flow from Financing Activities:
Owner's capital 42,000,000.00 - - - -
Owner's net contribution (drawing) - - (2,980,232.98) (3,247,026.07) (3,468,134.15)
Long-term borrowing 18,305,000.00 (2,970,353.70) (3,281,388.55) (3,624,992.81) (4,004,576.92)
Net used in Financing Activities 60,305,000.00 (2,970,353.70) (6,261,621.53) (6,872,018.88) (7,472,711.07)

Net increase in cash and cash equivalents 21,960,542.77 13,017,313.42 9,404,182.61 8,538,666.30 7,751,296.26
Check: Cash & Cash Equivalents at the
Beginning of the year 0 21,960,542.77 34,977,856.19 44,382,038.80 52,920,705.10
End of the year 21,960,542.77 13,017,313.42 9,404,182.61 8,538,666.30 7,751,296.26
21,960,542.77 34,977,856.19 44,382,038.80 52,920,705.10 60,672,001.36
 Year-1 Year-2 Year-3 Year-4 Year-5
BDT BDT BDT BDT BDT

Note 8 REVENUE: 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00

Note 9 COST OF SALES:

Opening Stock of Fuel & Mobil - 664,200.00 797,040.00 851,836.50 896,670.00
Fuel Purchased 4,428,000.00 4,649,400.00 4,881,870.00 5,125,963.50 5,382,261.68
4,428,000.00 5,313,600.00 5,678,910.00 5,977,800.00 6,278,931.68
Less: Closing Stock of Fuel & Mobil 664,200.00 797,040.00 851,836.50 896,670.00 941,839.75
Used in the year 3,763,800.00 4,516,560.00 4,827,073.50 5,081,130.00 5,337,091.92

DIRECT EXPENSES:
Direct wages & bonus 1,300,000.00 1,300,000.00 1,300,000.00 1,300,000.00 1,300,000.00
Insurance premium 360,000.00 360,000.00 360,000.00 360,000.00 360,000.00
Repair & maintenance 600,000.00 600,000.00 600,000.00 600,000.00 600,000.00
Voyage expenses 900,000.00 900,000.00 900,000.00 900,000.00 900,000.00
Depreciation (Note) 9,000,000.00 7,200,000.00 5,760,000.00 4,608,000.00 3,686,400.00
12,160,000.00 10,360,000.00 8,920,000.00 7,768,000.00 6,846,400.00
15,923,800.00 14,876,560.00 13,747,073.50 12,849,130.00 12,183,491.92
Note 10 ADMINISTRATIVE EXPENSES:
Electricity expenses 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
Telephone, telex and fax 18,000.00 18,000.00 18,000.00 18,000.00 18,000.00
Entertainment 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00
Audit fee 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
Internet expenses 36,000.00 36,000.00 36,000.00 36,000.00 36,000.00
Office Rent 240,000.00 240,000.00 240,000.00 240,000.00 240,000.00
Meal 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00
Office maintenance 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00
Legal and professional fees 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00
License and renewal 12,000.00 12,000.00 12,000.00 12,000.00 12,000.00
Printing and stationery 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00
Depreciation (Note:8.00) 23,230.00 18,584.00 14,867.20 11,893.76 9,515.01
463,230.00 458,584.00 454,867.20 451,893.76 449,515.01

Note 11 FINANCIAL EXPENSES:

Interest on long term loan 1,696,806.30 1,041,885.17 783,554.39 498,173.00 182,908.44
Bank charges and commission 10,000.00 10,500.00 11,025.00 11,576.25 12155.06
1,706,806.30 1,052,385.17 794,579.39 509,749.25 195,063.51
Note 2 FIXED ASSETS AT COST LESS ACCUMULATED DEPRECIATION (PROJECTED):

FIXED ASSETS:
Furniture &
Machinery &
Particulars Office Total
Equipment Equipment
BDT BDT BDT
Cost:
Beginning of the Year-1 - - -
Additions 45,000,000.00 116,150.00 45,116,150.00
At the end of the year-1 45,000,000.00 116,150.00 45,116,150.00
Beginning of the Year-2 45,000,000.00 116,150.00 45,116,150.00
Additions - - -
At the end of the year-2 45,000,000.00 116,150.00 45,116,150.00

Beginning of the Year-3 45,000,000.00 116,150.00 45,116,150.00

Additions - - -
At the end of the year-3 45,000,000.00 116,150.00 45,116,150.00
Beginning of the Year-4 45,000,000.00 116,150.00 45,116,150.00
Additions - - -
At the end of the year-4 45,000,000.00 116,150.00 45,116,150.00
Beginning of the Year-5 45,000,000.00 116,150.00 45,116,150.00
Additions - - -
At the end of the year-5 45,000,000.00 116,150.00 45,116,150.00
 Furniture &
Machinery &
Particulars Office Total
Equipment Equipment

Cost:
Beginning of the Year-1 - - -
Depreciation Charged 9,000,000.00 23,230.00 9,023,230.00
At the end of the year-1 9,000,000.00 23,230.00 9,023,230.00

Beginning of the Year-2 9,000,000.00 23,230.00 9,023,230.00

Depreciation Charged 7,200,000.00 18,584.00 7,218,584.00
At the end of the year-2 16,200,000.00 41,814.00 16,241,814.00

Beginning of the Year-3 16,200,000.00 41,814.00 16,241,814.00

Depreciation Charged 5,760,000.00 14,867.20 5,774,867.20
At the end of the year-3 21,960,000.00 56,681.20 22,016,681.20

Beginning of the Year-4 21,960,000.00 56,681.20 22,016,681.20

Depreciation Charged 4,608,000.00 11,893.76 4,619,893.76
At the end of the year-4 26,568,000.00 68,574.96 26,636,574.96

Beginning of the Year-5 26,568,000.00 68,574.96 26,636,574.96

Depreciation Charged 3,686,400.00 9,515.01 3,695,915.01
At the end of the year-5 30,254,400.00 78,089.97 30,332,489.97

Depreciation allocated to Year-1 Year-2 Year-3 Year-4 Year-5

BDT BDT BDT BDT BDT
Direct Expenses 9,000,000.00 7,200,000.00 5,760,000.00 4,608,000.00 3,686,400.00
Administrative Expenses 23,230.00 18,584.00 14,867.20 11,893.76 9,515.01
9,023,230.00 7,218,584.00 5,774,867.20 4,619,893.76 3,695,915.01
 Year-1 Year-2 Year-3 Year-4 Year-5
BDT BDT BDT BDT BDT

Note 1 Owners Capital 42,000,000.00 42,000,000.00 42,000,000.00 42,000,000.00 42,000,000.00

Note 3 Inventories 664,200.00 797,040.00 851,836.50 896,670.00 941,839.75

Note 4 ACCOUNTS RECEIVABLE: 9,319,860.00 9,319,860.00 9,319,860.00 9,319,860.00 9,319,860.00

Note 5 ADVANCES, DEPOSITS & PREPAYMENTS:

Advances 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00

Note 6 CASH & CASH EQUIVALENT:

Cash in hand 50,000.00 50,000.00 50,000.00 50,000.00 50,000.00
Cash at bank 21,910,542.77 34,927,856.19 44,332,038.80 52,870,705.10 60,622,001.36
21,960,542.77 34,977,856.19 44,382,038.80 52,920,705.10 60,672,001.36

Note 7 ACCOUNTS PAYABLE: 221,400.00 232,470.00 244,093.50 256,298.18 269,113.08

 ESTIMATED PURCHASE PER MONTH

Items Cost/Ltr Ltr Total Costs

Fuel 65.00 5,400 351,000.00
Mobil 200.00 90 18,000.00
369,000.00
 Human Resource Requirement in Details

SL No. Designation No. Salary Total Monthly Salary Yearly Salary & Bonus
1 Master 1 20,000.00 20,000 260,000.00
2 Driver 1 12,000.00 12,000 156,000.00
3 Greser 4 7,000.00 28,000 364,000.00
4 Laskar 2 7,000.00 14,000 182,000.00
5 Cook 1 10,000.00 10,000 130,000.00
6 Sukani 2 8,000.00 16,000 208,000.00
Total 11 100,000 1,300,000
 LOAN REPAYMENT SCHEDULE (PROJECTED)

Capitalized Installment Extra Total

Ins No. Due Date Principal
Loan Amount Payment Payment Payment
1 30.11.Y1 18,305,000 388,930 - 388,930 236,388
2 31.12.Y1 18,068,612 388,930 - 388,930 238,358
3 31.01.Y1 17,830,253 388,930 - 388,930 240,345
4 28.02.Y1 17,589,909 388,930 - 388,930 242,347
5 31.03.Y1 17,347,561 388,930 - 388,930 244,367
6 30.04.Y1 17,103,194 388,930 - 388,930 246,403
7 31.05.Y1 16,856,791 388,930 - 388,930 248,457
8 30.06.Y1 16,608,334 388,930 - 388,930 250,527
9 31.07.Y1 16,357,807 388,930 - 388,930 252,615
10 31.08.Y1 16,105,192 388,930 - 388,930 254,720
11 30.09.Y1 15,850,472 388,930 - 388,930 256,843
12 31.10.Y1 15,593,629 388,930 - 388,930 258,983
4,667,160 - 4,667,160 2,970,354

13 30.11.Y2 15,334,646 388,930 - 388,930 261,141

14 31.12.Y2 15,073,505 388,930 - 388,930 263,317
15 31.01.Y2 14,810,188 388,930 - 388,930 265,512
16 28.02.Y2 14,544,676 388,930 - 388,930 267,724
17 31.03.Y2 14,276,951 388,930 - 388,930 269,955
18 30.04.Y2 14,006,996 388,930 - 388,930 272,205
19 31.05.Y2 13,734,791 388,930 - 388,930 274,473
20 30.06.Y2 13,460,318 388,930 - 388,930 276,761
21 31.07.Y2 13,183,557 388,930 - 388,930 279,067
22 31.08.Y2 12,904,490 388,930 - 388,930 281,393
23 30.09.Y2 12,623,097 388,930 - 388,930 283,738
24 31.10.Y2 12,339,360 388,930 - 388,930 286,102
4,667,160 - 4,667,160 3,281,389

25 30.11.Y3 12,053,258 388,930 - 388,930 288,486

26 31.12.Y3 11,764,772 388,930 - 388,930 290,890
27 31.01.Y3 11,473,881 388,930 - 388,930 293,314
28 28.02.Y3 11,180,567 388,930 - 388,930 295,759
29 31.03.Y3 10,884,808 388,930 - 388,930 298,223
30 30.04.Y3 10,586,585 388,930 - 388,930 300,708
31 31.05.Y3 10,285,877 388,930 - 388,930 303,214
32 30.06.Y3 9,982,662 388,930 - 388,930 305,741
33 31.07.Y3 9,676,921 388,930 - 388,930 308,289
34 31.08.Y3 9,368,632 388,930 - 388,930 310,858
35 30.09.Y3 9,057,774 388,930 - 388,930 313,449
36 31.10.Y3 8,744,326 388,930 - 388,930 316,061
4,667,160 - 4,667,160 3,624,993

37 30.11.Y4 8,428,265 388,930 - 388,930 318,694

38 31.12.Y4 8,109,570 388,930 - 388,930 321,350
39 31.01.Y4 7,788,220 388,930 - 388,930 324,028
40 28.02.Y4 7,464,192 388,930 - 388,930 326,728
41 31.03.Y4 7,137,464 388,930 - 388,930 329,451
42 30.04.Y4 6,808,013 388,930 - 388,930 332,197
43 31.05.Y4 6,475,816 388,930 - 388,930 334,965
44 30.06.Y4 6,140,851 388,930 - 388,930 337,756
45 31.07.Y4 5,803,095 388,930 - 388,930 340,571
46 31.08.Y4 5,462,524 388,930 - 388,930 343,409
47 30.09.Y4 5,119,115 388,930 - 388,930 346,271
48 31.10.Y4 4,772,844 388,930 - 388,930 349,156
4,667,160 - 4,667,160 4,004,577

49 30.11.Y5 4,423,688 388,930 - 388,930 352,066

50 31.12.Y5 4,071,622 388,930 - 388,930 355,000
51 31.01.Y5 3,716,622 388,930 - 388,930 357,958
52 28.02.Y5 3,358,664 388,930 - 388,930 360,941
53 31.03.Y5 2,997,723 388,930 - 388,930 363,949
54 30.04.Y5 2,633,774 388,930 - 388,930 366,982
55 31.05.Y5 2,266,792 388,930 - 388,930 370,040
56 30.06.Y5 1,896,752 388,930 - 388,930 373,124
57 31.07.Y5 1,523,628 388,930 - 388,930 376,233
58 31.08.Y5 1,147,395 388,930 - 388,930 379,368
59 30.09.Y5 768,027 388,930 - 388,930 382,530
60 31.10.Y5 385,497 388,930 - 385,497 382,285
4,667,160 - 4,663,727 4,420,476
TED)

Interest Ending Balance

152,542 18,068,612
150,572 17,830,253
148,585 17,589,909
146,583 17,347,561
144,563 17,103,194
142,527 16,856,791
140,473 16,608,334
138,403 16,357,807
136,315 16,105,192
134,210 15,850,472
132,087 15,593,629
129,947 15,334,646
1,696,806

127,789 15,073,505
125,613 14,810,188
123,418 14,544,676
121,206 14,276,951
118,975 14,006,996
116,725 13,734,791
114,457 13,460,318
112,169 13,183,557
109,863 12,904,490
107,537 12,623,097
105,192 12,339,360
102,828 12,053,258
1,385,771

100,444 11,764,772
98,040 11,473,881
95,616 11,180,567
93,171 10,884,808
90,707 10,586,585
88,222 10,285,877
85,716 9,982,662
83,189 9,676,921
80,641 9,368,632
78,072 9,057,774
75,481 8,744,326
72,869 8,428,265
1,042,167

70,236 8,109,570
67,580 7,788,220
64,902 7,464,192
62,202 7,137,464
59,479 6,808,013
56,733 6,475,816
53,965 6,140,851
51,174 5,803,095
 48,359 5,462,524
45,521 5,119,115
42,659 4,772,844
39,774 4,423,688
662,583

36,864 4,071,622
33,930 3,716,622
30,972 3,358,664
27,989 2,997,723
24,981 2,633,774
21,948 2,266,792
18,890 1,896,752
15,806 1,523,628
12,697 1,147,395
9,562 768,027
6,400 385,497
3,212 -
243,252
 SHIPPING COMPANY LTD
STATEMENT OF CHANGES IN EQUITY (PROJECTED)

Retained
Particulars Owners Capital Total
Earnings
BDT BDT BDT

Balance at the beginning of the year-1 42,000,000.00 - 42,000,000.00

Net profit after tax for the year - 7,611,122.77 7,611,122.77
Drawing during the year - - -
Balance at the end of the year-1 42,000,000.00 7,611,122.77 49,611,122.77
Balance at the beginning of the year-2 42,000,000.00 7,611,122.77 49,611,122.77
Net profit after tax for the year - 8,890,853.12 8,890,853.12
Drawing during the year - - -
Balance at the end of the year-2 42,000,000.00 16,501,975.89 58,501,975.89
Balance at the beginning of the year-3 42,000,000.00 16,501,975.89 58,501,975.89
Net profit after tax for the year - 9,934,109.93 9,934,109.93
Drawing during the year - (2,980,232.98) (2,980,232.98)
Balance at the end of the year-3 42,000,000.00 23,455,852.85 71,416,318.81
Balance at the beginning of the year-4 42,000,000.00 23,455,852.85 65,455,852.85
Net profit after tax for the year - 10,823,420.24 10,823,420.24
Drawing during the year - (3,247,026.07) (3,247,026.07)
Balance at the end of the year-4 42,000,000.00 31,032,247.02 79,526,299.16
Balance at the beginning of the year-5 42,000,000.00 31,032,247.02 73,032,247.02
Net profit after tax for the year - 11,560,447.17 11,560,447.17
Drawing during the year - (3,468,134.15) (3,468,134.15)
Balance at the end of the year-5 42,000,000.00 39,124,560.04 88,060,828.34
 SHIPPING COMPANY LTD
ESTIMATED TERM LOAN REQUIRED FROM BANK

SL No. Particulars Amount in BDT

1 Ship 45,000,000.00
2 Furniture & Office Equipment 116,150.00
3 Working Capital 9,862,660.00
54,978,810.00

Owners Capital 70% 38,485,167.00

Required Loan 30% 16,493,643.00
54,978,810.00
 SHIPPING COMPANY LTD
WORKING CAPITAL REQUIREMENTS DURING COMMENCEMENT OF OPERATION

Amount in Amount in Tk
Particulars Taka (Total)
A. Current Assets
Inventories 664,200
Accounts receivable 9,319,860
Advances, deposits and prepayments 100,000
10,084,060
B. Current liabilities
Accounts payable 221,400
221,400
Total working capital requirement (A-B) 9,862,660
 SHIPPING COMPANY LTD
BREAK EVEN POINT ANALYSIS

Particulars Year-1 Year-2 Year-3 Year-4 Year-5

Fixed Costs
Direct Expenses 158,000.00 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00
Depreciation 9,023,230.00 14,876,560.00 13,747,073.50 12,849,130.00 12,183,491.92
Administrative Expenses 264,000.00 13,365,440.00 14,494,926.50 15,392,870.00 16,058,508.08
Financial Expenses 1,706,806.30 458,584.00 454,867.20 451,893.76 449,515.01
11,152,036.30 56,942,584.00 56,938,867.20 56,935,893.76 56,933,515.01

Variable Costs
Fuel & Mobil Consumption 3,763,800.00 4,516,560.00 4,827,073.50 5,081,130.00 5,337,091.92
Direct Expenses 3,002,000.00 36,000.00 36,000.00 36,000.00 36,000.00
Administrative Expenses 176,000.00 - - - -
6,941,800.00 4,552,560.00 4,863,073.50 5,117,130.00 5,373,091.92

Sales
PV Ratio=S-VC/S 0.7542 0.8388 0.8278 0.8188 0.8097
BEP in Taka= FC/PV 14,786,518.87 67,885,625.72 68,782,776.98 69,534,813.02 70,310,148.85
 SHIPPING COMPANY LTD
PAY BACK PERIOD

Investment Balance
Year Net Profit after tax Depreciation Total Cash
(Csah Outflow) (Cash Outflow)

0 (54,978,810.00) - - - (54,978,810.00)
1 - 7,611,122.77 9,023,230.00 16,634,352.77 (38,344,457.23)
2 - 8,890,853.12 7,218,584.00 16,109,437.12 (22,235,020.11)
3 - 9,934,109.93 5,774,867.20 15,708,977.13 (6,526,042.97)
4 - 10,823,420.24 4,619,893.76 15,443,314.00 8,917,271.03
5 - 11,560,447.17 3,695,915.01 15,256,362.18 24,173,633.21

PBP= 3 years 5 months approx

 SHIPPING COMPANY LTD
INTERNAL RATE OF RETURN

Year Initial Outlay Cash Flow after Tax PV factor @ 10% Present Value @ 50% PV factor @ 13% Present Value @ 13%
0 (54,978,810.00) - - (54,978,810.00) - (54,978,810.00)
1 - 16,634,352.77 0.909 15,122,138.89 0.877 14,591,537.52
2 - 16,109,437.12 0.826 13,313,584.40 0.769 12,395,688.77
3 - 15,708,977.13 0.751 11,802,387.03 0.675 10,603,112.11
4 - 15,443,314.00 0.683 10,547,991.26 0.592 9,143,681.64
5 - 15,256,362.18 0.621 9,473,000.59 0.519 7,923,676.45
5,280,292.16 (321,113.51)

Pv Here
IRR = [A%+ X (B% - A%)]%
(Pv+Nv) A = lower rate of return with positive NPV at 10%
B = Higher rate of return with negative NPV at 13%
= 0.10 0.03 Pv = Value of positive NPV@10%
Nv = Absolute value of negative NPV @13%
= 13%
-
 SHIPPING COMPANY LTD
NET PRESENT VALUE

Year-1 Year-2 Year-3 Year-4 Year-5

Notes BDT BDT BDT BDT BDT
RECEIVE
Revenue 8 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00 28,242,000.00
Less: Cost of Sales 9 15,923,800.00 14,876,560.00 13,747,073.50 12,849,130.00 12,183,491.92
Gross Profit 12,318,200.00 13,365,440.00 14,494,926.50 15,392,870.00 16,058,508.08
Less: Administrative Expenses 10 463,230.00 458,584.00 454,867.20 451,893.76 449,515.01
Trading Profit 11,854,970.00 12,906,856.00 14,040,059.30 14,940,976.24 15,608,993.07
Less: Financial Expenses 11 1,706,806.30 1,052,385.17 794,579.39 509,749.25 195,063.51
Profit Before Tax (PBT) 10,148,163.70 11,854,470.83 13,245,479.91 14,431,226.99 15,413,929.56
Income Tax 2,537,040.92 2,963,617.71 3,311,369.98 3,607,806.75 3,853,482.39
Net profit after tax 7,611,122.77 8,890,853.12 9,934,109.93 10,823,420.24 11,560,447.17
 SHIPPING COMPANY LTD
RATIO ANALYSIS

Particulars Year-1 Year-2 Year-3 Year-4 Year-5

BDT BDT BDT BDT BDT
LIQUIDITY RATIO
Current Ratio 144.74 194.41 223.90 246.73 263.95
Quick Ratio 141.74 190.98 220.42 243.23 260.46

PROFITABILITY RATIO
Return on Equity 18% 21% 24% 26% 28%
Return on Capital Employed 11% 12% 13% 13% 14%
Gross Profit Ratio 44% 47% 51% 55% 57%
Operating Ratio 36% 42% 47% 51% 55%
Net Profit Ratio 27% 31% 35% 38% 41%

EFFECIENCY RATIO
Inventory Turnover Ratio (Times) 42.52 35.43 33.15 31.50 29.99
Financial Charges Coverage Ratio (Times) 6.95 12.26 17.67 29.31 80.02
Debt Service Coverage Ratio (Times) 9.75 15.31 19.77 30.30 78.21
Debt Equity Ratio 0.37 0.27 0.19 0.12 0.06