Kohinoor Chemical Co

Income Statement(R

x
Particulars 2018 2017
Operating revenue 3,661,324,088 3,393,185,456
Less. Cost of goods sold (3,003,180,758) (2,784,391,769)
Gross Profit 658,143,330 608,793,687
Less: Operating expense:
General and Administrative Expenses 59,044,957 54,883,450
Marketting, selling and distribution Expenses 369,289,894 345,362,350
Total Operating Expenses 428,334,851 400,245,800
Operating Profit 229,808,479 208,547,887
Less: Financial Expenses (7,637,229) (7,759,766)
Less Amortization of goodwill (7,144,400) (2,381,466)
Net profit after financial expenses 215,026,850 198,406,655
Income from other sources 6,945,587 7,851,077
Net Profit before contribution to WPPF 221,972,437 206,257,732
Less contribution to WPPF and welfare funding (10,570,116) (9,821,797)
Net profit before tax 211,402,321 196,435,935
Less: Provision for income tax @25% (55,493,109) (50,572,553)
Deffered Tax Income (Expenses) (1,412,404) 932,223
Net Profit after tax for the year 154,496,808 146,795,605
Unrealized gain 37,588,366 -
Total Comprehensive income for the year 192,085,174 146,795,605
No. of shares 14,015,625 14,015,625
EPS 11.020 10.474

Horizontal Ana
Particulars 2018 2017
Turnover(Net of Vat) 23.66% 14.60%
Less. Cost of goods sold 23.61% 14.61%
Gross Profit 23.87% 14.58%
Less: Operating expense:
General and Administrative Expenses -65.82% -68.23%
Marketting, selling and distribution Expenses 172.57% 154.91%
Total Operating Expenses 38.97% 29.86%
Operating Profit 3.00% -6.53%
Less: Financial Expenses -88.22% -88.03%
Less Amortization of goodwill
Net profit after financial expenses 35.85% 25.35%
Income from other sources 114.08% 141.99%
Net Profit before contribution to WPPF 37.42% 27.70%
Less contribution to WPPF and welfare funding 37.42% 27.70%
Net profit before tax 37.42% 27.70%
Less: Provision for income tax @25% 24.93% 13.85%
Deffered Tax Income (Expenses) -35.69% -142.45%
Net Profit after tax for the year 44.10% 36.91%
Unrealized gain
Total Comprehensive income for the year 79.16% 36.91%
No. of shares 38.04% 38.04%
EPS 4.36% -0.82%
noor Chemical Company Ltd.
Income Statement(Reformulated)

2016 2015 2014 (BASE YEAR)

2,996,245,717 2,656,900,567 2,960,859,038
(2,458,285,505) (2,179,286,324) (2,429,523,708)
537,960,212 477,614,243 531,335,330

46,771,873 37,748,714 172,726,338

299,938,833 287,216,021 135,486,307
346,710,706 324,964,735 308,212,645
191,249,506 152,649,508 223,122,685
(25,081,141) (38,207,325) (64,843,857)
(2,381,466) -
163,786,899 114,442,183 158,278,828
5,018,970 9,662,874 3,244,426
168,805,869 124,105,057 161,523,254
(8,038,375) (5,909,765) (7,691,584)
160,767,494 118,195,292 153,831,670
(41,722,328) (29,874,361) (44,418,895)
253,136 3,136,512 (2,196,097)
119,298,302 91,457,443 107,216,678

119,298,302 91,457,443 107,216,678

12,187,500 10,156,250 10,153,095
9.789 9.005 10.560

Horizontal Analysis
2016 2015
1.20% -10.27%
1.18% -10.30%
1.25% -10.11%

-72.92% -78.15%
121.38% 111.99%
12.49% 5.44%
-14.29% -31.58%
-61.32% -41.08%
 3.48% -27.70%
54.70% 197.83%
4.51% -23.17%
4.51% -23.17%
4.51% -23.17%
-6.07% -32.74%
-111.53% -242.82%
11.27% -14.70%

11.27% -14.70%
20.04% 0.03%
-7.31% -14.72%
 Kohinoor Chemical Company Ltd.
Statement of Financial Position

Particulars 2018 2017

Assets:
1. Non-Current Assets:
Property, Plant and equipment O 307,824,838 312,849,492
Goodwill F - 7,144,400
Total Non-Current Assets: 307,824,838 319,993,892
2. Current Assets:
Investment in Marketable Secuirities F 185,134,228 147,542,355
Inventories O 750,731,088 478,086,812
Accounts Receivable O 2,327,760 2,167,018
Advances, Deposits & Pre-payments O 471,032,537 315,975,211
Short Term Investment (FDR) F 30,086,724 28,680,150
Related Party Transaction O 3,793,304 3,890,602
Cash and Cash Equivalents F 183,199,401 234,473,700
Total Current Assets: 1,626,305,042 1,210,815,848
Total Assets: 1,934,129,880 1,530,809,740

Shareholders Equity & Liabilities:

3. Shareholders' Equity
Share Capital 140,156,250 121,875,000
Revaluation Reserve 7,143,605 7,143,605
FVOCI Reserve 37,588,366 -
Retained Earnings 542,989,305 425,054,997
Total Shareholders' Equity 727,877,526 554,073,602
4. Non-Current Liabilities
Long Term Loan F 326,089,784 326,089,784
Total Non-Current Liabilities 326,089,784 326,089,784
5. Current Liabilities
Short Term Loan F 142,909,410 30,888,539
Sundry Creditors O 313,551,201 404,740,938
Accrued Liabilities O 362,284,032 155,485,384
Dividend Payable f 15,024,180 13,733,281
Provision for Gratuity O 15,963,367 16,780,235
Deferred Tax Liability O 30,430,380 29,017,977
Total Current Liabilities: 880,162,570 650,646,354
Total Shareholders' Equity & Liabilities 1,934,129,880 1,530,809,740

Net Asset Value (NAV)/Total No. of Shares 14,015,625 14,015,625

Per Value (Tk.) 11.020 10.474
 Horizontal Analysis
Particulars 2018 2017
Assets:
1. Non-Current Assets:
Property, Plant and equipment 4.88% 6.59%
Goodwill - -40.00%
Total Non-Current Assets: 0.79% 4.77%
2. Current Assets:
Investment in Marketable Secuirities 155.81% 103.87%
Inventories -22.07% -50.37%
Accounts Receivable -72.16% -74.08%
Advances, Deposits & Pre-payments 73.65% 16.49%
Short Term Investment (FDR) 35.52% 29.18%
Related Party Transaction -32.06% -30.32%
Cash and Cash Equivalents 89.29% 142.28%
Total Current Assets: 12.94% -15.91%
Total Assets: 10.81% -12.29%

Shareholders Equity & Liabilities:

3. Shareholders' Equity
Share Capital 72.50% 50.00%
Revaluation Reserve 0.00% 0.00%
FVOCI Reserve
Retained Earnings 265.03% 185.74%
Total Shareholders' Equity 206.93% 133.64%
4. Non-Current Liabilities
Long Term Loan 0.00% 0.00%
Total Non-Current Liabilities 0.00% 0.00%
5. Current Liabilities
Short Term Loan -62.37% -91.87%
Sundry Creditors -44.91% -28.89%
Accrued Liabilities 113.30% -8.46%
Dividend Payable 40.71% 28.62%
Provision for Gratuity -17.53% -13.31%
Deferred Tax Liability -8.73% -12.96%
Total Current Liabilities: -25.54% -44.96%
Total Shareholders' Equity & Liabilities 10.81% -12.29%

Net Asset Value (NAV)/Total No. of Shares 38.04% 38.04%

Per Value (Tk.) 4.36% -0.82%
 Valuation with Residual Ea

Particulars 2018 2017

Retained earnings 542,989,305 425,054,997
Change in RE 0.28 0.38
Growth rate after 2015=28%
Cost of capital 0.32 0.32
Book value of equity at 2014 148753646
PV of RE 411,355,534.09 243,948,001.03

Retained earnings at 2019 150,655,958.38

Continuing value at 2018 1,166,428,820.46

Valuation of the company 2,177,148,869.79

ny Ltd.
tion

2016 2015 2014(BASE YEAR)

322,959,095 298,322,570 293,507,954

9,525,866 11,907,332 11,907,332
332,484,961 310,229,902 305,415,286

147,546,916 147,551,754 72,372,295

767,238,337 731,105,851 963,396,630
7,308,265 8,239,430 8,361,487
346,425,721 300,373,494 271,257,925
26,728,944 24,599,302 22,201,755
3,655,021 5,824,876 5,583,276
76,824,199 128,543,724 96,779,903
1,375,727,403 1,346,238,431 1,439,953,271
1,708,212,364 1,656,468,333 1,745,368,557

101,562,500 101,562,500 81,250,000

7,143,605 7,143,605 7,143,605
- - -
308,728,142 219,898,591 148,753,646
417,434,247 328,604,696 237,147,251

326,089,784 326,089,784 326,089,784

326,089,784 326,089,784 326,089,784

264,979,129 337,223,833 379,737,853

465,169,940 426,676,747 569,169,496
174,602,274 177,837,941 169,850,698
12,744,898 11,079,694 10,677,498
17,241,893 18,752,304 19,356,131
29,950,199 30,203,335 33,339,847
964,688,333 1,001,773,854 1,182,131,523
1,708,212,364 1,656,468,334 1,745,368,558

12,187,500 10,156,250 10,153,095

9.789 9.005 10.560
rizontal Analysis
2016 2015

10.03% 4.88%
-20.00% -100.00%
8.86% 0.79%

103.87% 155.81%
-20.36% -22.07%
-12.60% -72.16%
27.71% 73.65%
20.39% 35.52%
-34.54% -32.06%
-20.62% 89.29%
-4.46% 12.94%
-2.13% 10.81%

25.00% 72.50%
0.00% 0.00%

107.54% 265.03%
76.02% 206.93%

0.00% 0.00%
0.00% 0.00%

-30.22% -62.37%
-18.27% -44.91%
2.80% 113.30%
19.36% 40.71%
-10.92% -17.53%
-10.17% -8.73%
-18.39% -25.54%
-2.13% 10.81%

20.04% 38.04%
-7.31% 4.36%
tion with Residual Earnings Model

2016 2015 2014( book value)

308,728,142 219,898,591 148,753,646
0.40 0.48

0.32 0.32 0.32

134,231,494.53 72,431,373.68
 Kohinoor Chemical Com
Balance Sheet (Reform

Net operating assets 2018 2017

Operating assets
Property, Plant and equipment 307,824,838.00 312,849,492.00
Inventories 750,731,088 478,086,812
Accounts Receivable 2,327,760 2,167,018
Advances, Deposits & Pre-payments 471,032,537 315,975,211
Related Party Transaction 3,793,304 3,890,602
Total Operating assets 1,535,709,527.00 1,112,969,135.00
Operating liabilities
Sundry Creditors 313,551,201 404,740,938
Accrued Liabilities 362,284,032 155,485,384
Provision for Gratuity 15,963,367 16,780,235
Deferred Tax Liability 30,430,380 29,017,977
Total operating liabilities 722,228,980 606,024,534
Net Operating assets 813,480,547.00 506,944,601.00
Financial Assets
Goodwill - 7,144,400
Investment in Marketable Secuirities 185,134,228 147,542,355
Short Term Investment (FDR) 30,086,724 28,680,150
Cash and Cash Equivalents 183,199,401 234,473,700
Total Financial Assets 398,420,353 417,840,605
Financial liabilities:
Long Term Loan 326,089,784 326,089,784
Short Term Loan 142,909,410 30,888,539
Dividend Payable 15,024,180 13,733,281
Total financial Liabilities 484,023,374 370,711,604
Net Financial Assets (85,603,021) 47,129,001
Common shareholders equity
Share Capital 140,156,250 121,875,000
Revaluation Reserve 7,143,605 7,143,605
FVOCI Reserve 37,588,366 -
Retained Earnings 542,989,305 425,054,997
Total Common shareholders equity 727,877,526 554,073,602
hinoor Chemical Company Ltd.
Balance Sheet (Reformulated)

2016 2015 2014

322,959,095.00 298,322,570.00 293,507,954.00

767,238,337 731,105,851 963,396,630
7,308,265 8,239,430 8,361,487
346,425,721 300,373,494 271,257,925
3,655,021 5,824,876 5,583,276
1,447,586,439.00 1,343,866,221.00 1,542,107,272.00

465,169,940 426,676,747 569,169,496

174,602,274 177,837,941 169,850,698
17,241,893 18,752,304 19,356,131
29,950,199 30,203,335 33,339,847
686,964,306 653,470,327 791,716,172
760,622,133.00 690,395,894.00 750,391,100.00

9,525,866 11,907,332 11,907,332

147,546,916 147,551,754 72,372,295
26,728,944 24,599,302 22,201,755
76,824,199 128,543,724 96,779,903
260,625,925 312,602,112 203,261,285

326,089,784 326,089,784 326,089,784

264,979,129 337,223,833 379,737,853
12,744,898 11,079,694 10,677,498
603,813,811 674,393,311 716,505,135
(343,187,886) (361,791,199) (513,243,850)

101,562,500 101,562,500 81,250,000

7,143,605 7,143,605 7,143,605
- - -
308,728,142 219,898,591 148,753,646
417,434,247 328,604,695 237,147,250
 Kohinoor Chemical Com
Balance Sheet (Refor

Particulars 2018 2017 2016

Operating revenue 3,661,324,088 3,393,185,456 2,996,245,717
Less. Cost of goods sold (3,003,180,758) (2,784,391,769) (2,458,285,505)
Gross Margin 658,143,330 608,793,687 537,960,212
Less: Operating expense:
General and Administrative Expenses 59,044,957 54,883,450 46,771,873
Marketting, selling and distribution Expenses 369,289,894 345,362,350 299,938,833
Total Operating Expenses 428,334,851 400,245,800 346,710,706
Operating Income from Sales before tax 229,808,479 208,547,887 191,249,506
Less: Financial Expenses (7,637,229) (7,759,766) (25,081,141)
Less Amortization of goodwill (7,144,400) (2,381,466) (2,381,466)
Net profit after financial expenses 215,026,850 198,406,655 163,786,899
Income from other sources 6,945,587 7,851,077 5,018,970
Net Profit before contribution to WPPF 221,972,437 206,257,732 168,805,869
Less contribution to WPPF and welfare funding (10,570,116) (9,821,797) (8,038,375)
Net profit before tax 211,402,321 196,435,935 160,767,494
Less: Provision for income tax @25% (55,493,109) (50,572,553) (41,722,328)
Deffered Tax Income (Expenses) (1,412,404) 932,223 253,136
Net Profit after tax for the year 154,496,808 146,795,605 119,298,302
Unrealized gain 37,588,366 -
Total Comprehensive income for the year 192,085,174 146,795,605 119,298,302
No. of shares 14,015,625 14,015,625 12,187,500
EPS 11.020 10.474 9.789
Chemical Company Ltd.
lance Sheet (Reformulated)

2015 2014
2,656,900,567 2,960,859,038
(2,179,286,324) (2,429,523,708)
477,614,243 531,335,330

37,748,714 172,726,338
287,216,021 135,486,307
324,964,735 308,212,645
152,649,508 223,122,685
(38,207,325) (64,843,857)
-
114,442,183 158,278,828
9,662,874 3,244,426
124,105,057 161,523,254
(5,909,765) (7,691,584)
118,195,292 153,831,670
(29,874,361) (44,418,895)
3,136,512 (2,196,097)
91,457,443 107,216,678

91,457,443 107,216,678
10,156,250 10,153,095
9.005 10.560
Particulars 2018 2017
NOA 813,480,547.00 506,944,601.00
NFA/NFO (85,603,021.00) 47,129,001.00
CSE 727,877,526.00 554,073,602.00
Financial Expenses (7,637,229) (7,759,766)
NFO 484,023,374.00 370,711,604.00
Operating Income from sales 229,808,479 208,547,887
RNOA 0.28 0.41
FLEV(NFO/CSE) 0.117606352638 Cant be determined for NFA
NBC 0.0157786367565 0.020932082827383

ROCE 0.31 -
 Calculation of Profitibility

2016 2014 2015

760,622,133.00 690,395,894.00 750,391,100.00
(343,187,886.00) (361,791,199.00) (513,243,850.00)
417,434,247.00 328,604,695.00 237,147,250.00
(25,081,141) (38,207,325) (64,843,857)
603,813,811.00 674,393,311.00 223,122,685
191,249,506 152,649,508 223,122,685
0.25 0.22 0.30
0.8221363926568 1.1009921784593
0.0415378723426 0.056654365304 0.290619741332

0.42 0.40 0.30