Renata Limited

Renata Limited
Statement of Financial Position

As at 31 December 2013
Amount in Taka
Notes
2013
ASSETS
Non-current assets
Property, plant and equipment 5 6,340,103,241
Capital work-in-progress 6 2,026,083,847
Investment in subsidiaries 7 143,069,376
Investment in shares 8 56,363,666
Total non-current assets 8,565,620,130
Current assets
Inventories 9 2,657,779,254
Trade and other receivables 10 1,142,594,356
Advance deposits and prepayments 11 174,899,940
Cash and cash equivalents 12 240,262,925
Total current assets 4,215,536,475
Total assets 12,781,156,605
EQUITY AND LIABILITIES

Equity attributable to equity holders of the company
Share capital 13 353,023,430
Revaluation surplus 14 157,477,414
Tax holiday reserve 249,496,624
Retained earnings 15 5,536,066,012
Total equity attributable to equity holders of the company 6,296,063,479
Non-current liabilities
Deferred liability-staff gratuity 16 212,940,085
Deferred tax liability 17 469,264,305
Long term loan 18 707,050,000
Non-convertible Bond 19 1,000,000,000
Total non-current liabilities 2,389,254,390
Current liabilities
Short term bank loan 20 3,041,324,251
Trade payables 56,478,705
Accruals 256,210,520
Provision and other liabilities 21 361,314,418
Unclaimed dividend 9,915,748
Provision for taxation 22 370,595,092
Total current liabilities 4,095,838,734
Total liabilities 6,485,093,124
Total equity and liabilities 12,781,156,605
1
Amount in Taka
2012
4,268,926,361###
2,061,905,242###
63,070,376###
48,955,276###
6,442,857,255###
1,986,744,883###
843,231,267###
148,951,592###
331,292,974###
3,310,220,716###
9,753,077,971###
282,418,750###
157,955,917 #
206,609,359 #
4,423,495,723###
5,070,479,750###
175,366,283###
272,041,423###
358,333,333
1,000,000,000
1,805,741,039###
1,812,605,178###
41,207,200###
272,566,530###
340,461,110 #
7,907,075###
402,110,091###
2,876,857,184###
4,682,598,223###
9,753,077,971###
1
Renata Limited
Statement of Comprehensive Income
For the year ended 31 December 2013
Tax holiday units

Penicillin plant
Non-tax holiday Cepha plant
Notes February-
units (50% tax January (100%
exemption) December (50%
tax exemption)
tax exemption)
Turnover 23 7,632,078,333 922,957,050 15,459,176 186,911,189

Cost of sales 24 (3,603,084,695) (554,951,550) (12,126,137) (146,612,646)
Gross Profit 4,028,993,638 368,005,500 3,333,039 40,298,543
Operating Expenses:
Administrative, selling and

distribution expenses 25 (1,814,418,319) (203,239,088) (1,929,645) (23,330,624)
Operating profit 2,214,575,319 164,766,412 1,403,394 16,967,919
Other income/Expeses 26 (883,705) - - -
Gain/(loss) on disposal of
property, plant and equipment
5.5 398,849 - - -
Finance Cost (366,891,685) (44,895,390) (751,983) (9,091,948)
Profit before Contribution to WPPF 1,847,198,778 119,871,022 651,411 7,875,971
Contribution to WPPF (87,781,179) (5,708,144) (31,020) (375,046)
Profit before tax 1,759,417,599 249,496,624 620,392 7,500,925
Tax expenses
Current tax 22 (292,299,582) 363,659,502 - (938,375)
Deferred tax 17 (197,380,264) - - -
(489,679,846) 363,659,502 - (938,375)
Net profit after tax for the year 1,269,737,753 100,035,222 620,392 6,562,550
Other Comprehensive Income:

Gain/(Loss) on Marketable Securities
(unrealized)
Exchange differences arising on
translation (unrealized)
Total Comprehensive Income for the Year
Basic Earning per share

(per value of Tk. 10) 27
2
me
13
Amount in Taka
2013 2012
Total of
Total Total
Penicillin Plant
202,370,365 8,757,405,748 7,671,572,303

(158,738,783) (4,316,775,028) (3,619,613,644)
43,631,582 4,440,630,720 4,051,958,659
(25,260,269) (2,042,917,676) (1,890,859,261)

18,371,313 2,397,713,044 2,161,099,398
- (883,705) 7,995,455
- 398,849 (218,312)
(9,843,931) (421,631,006) (370,881,897)
8,527,382 1,975,597,182 1,797,994,644
(406,066) (93,895,388) (85,618,793)
8,121,316 1,881,701,794 1,712,375,851
(938,375) (293,237,957) (400,255,434)

- (197,380,264) (74,194,051)
(938,375) (490,618,221) (474,449,485)
7,182,941 1,391,083,573 1,237,926,366
3,794,026 (252,830)
- 9,601,794
1,394,877,599 1,247,275,330
39.40 35.07
2
Renata Limited
Statement of Changes in Equity
Share Revaluation Tax holiday Retained

capital surplus reserve earnings
Balance at 01 January 2013 225,935,000 158,434,421 131,443,579 3,442,795,036

Stock dividend issued 56,483,750 - ### (56,483,750)
Cash dividend paid - - ### (135,561,000)
Deferred tax on revaluation surplus - 157,382 - -
Depreciation adjustment on revalued assets - (635,885) - 635,885
Total comprehensive income for the year - - ### 1,247,275,330
Tax holiday reserve - - 75,165,779 (75,165,779)
Tax holiday reserve reversed - - ### -
Balance at 31 December 2013 282,418,750 157,955,918 206,609,358 4,423,495,723
Balance at 01 January 2013 282,418,750 157,955,918 206,609,358 4,423,495,723

Stock dividend issued 70,604,680 - ### (70,604,680)
Cash dividend paid - ### (169,451,250)
Deferred tax on revaluation surplus - 157,382 - -
Depreciation adjustment on revalued assets - (635,885) - 635,885
Total comprehensive income for the year - - ### 1,394,877,599
Tax holiday reserve - - 42,887,265 (42,887,265)
Tax holiday reserve reversed - - -
3
Balance at 31 December 2013 353,023,430 157,477,414 249,496,624 5,536,066,012
3
#
Amount in Taka
Total
3,958,608,036
-
(135,561,000)
157,382
-
1,247,275,330
-
-
5,070,479,748
5,070,479,748
-
(169,451,250)
157,382
-
1,394,877,599
-
-
3
6,296,063,479
3
Renata Limited
Statement of Cash flow
Amount in Taka
2013
A. Cash flows from operating activities:
Collection from customers and other income 9,993,664,238

Payment of VAT (1,277,044,728)
Payment to suppliers and employees (7,053,643,171)
Cash generated from operation 1,662,976,339
Financing cost (421,631,006)

Payment of tax (324,752,957)
Net cash from operating activities 916,592,376
B. Cash flows from investing activities:
Purchase of property, plant and equipment (2,381,170,663)

Investment in shares (38,000,542)
Sale proceeds of property, plant and equipment 200,000
Net cash used in investing activities (2,418,971,205)
C. Cash flows from financing activities:

Bank loan (repaid)/received (net) 577,435,740
Non convertible bond issue 1,000,000,000
Dividend paid (166,086,960)
Net cash generated from financing activities 1,411,348,780
D. Net cash outflows for the year (A+B+C) (91,030,049)
E. Opening cash and cash equivalents 331,292,974
F. Closing cash and cash equivalents (D+E) 240,262,925
These financial statements should be read in conjunction with the annexed notes
4
Amount in Taka
2012
8,696,834,669
(1,109,202,451)
(5,876,069,492)
1,711,562,726
(370,881,897)
(253,421,332)
1,087,259,497
(1,524,143,603)
(7,029,261)
200,000
(1,530,972,864)
249,496,624
5,536,066,012
(1,281,276,240)
(232,054,247)
1,000,000,000
(134,205,384)
633,740,369
190,027,002
141,265,972
331,292,974
the annexed notes
4
5. Property, plant and equipment
Cost/Revaluation Depreciation
Disposal/ Disposal/
Particulars At Addition adjustment Rate At Charged adjustment
1 January during during 31 December % 1 January during during
2013 the year the year 2013 2013 the year the year
Freehold land:
At cost 801,552,861 119,011,336 - 920,564,197 - ### -
On revaluation 179,132,078 - - 179,132,078 - ### -
980,684,939 119,011,336 - 1,099,696,275 - - -
Buildings:
At cost 1,385,842,068 666,183,967 - 2,052,026,035 1.54-5 110,427,879 59,422,594 -
On revaluation 41,291,251 - - 41,291,251 1.54-5 10,515,133 635,885 -
1,427,133,319 666,183,967 - 2,093,317,286 120,943,012 60,058,479 -
Plant and machinery 2,585,299,026 1,550,043,079 - 4,135,342,105 5 - 20 748,642,024 239,132,692 -

Automobiles 142,643,055 16,492,000 5,632,500 153,502,555 25 105,624,339 22,685,757 4,479,644
Office equipments 146,428,933 46,730,939 - 193,159,872 10 - 12.5 71,253,236 16,826,133 -
Furnitures and fixtures 48,415,149 18,530,734 - 66,945,883 10 15,215,449 5,959,258 -
Total 2013 5,330,604,421 2,416,992,055 5,632,500 7,741,963,976 1,061,678,060 344,662,319 4,479,644
Total 2012 4,610,963,149 249,496,624 112,819,730 5,330,604,421 828,113,782 42,887,265 53,785,968
14
Amount in Taka
Written
At Down Value at
31 December 31 December
2013 2013
- 920,564,197
- 179,132,078
- 1,099,696,275
169,850,473 1,882,175,562
11,151,018 30,140,233
181,001,491 1,912,315,795
987,774,716 3,147,567,389
123,830,452 29,672,103
88,079,369 105,080,503
21,174,707 45,771,176
1,401,860,735 6,340,103,241
1,061,678,060 4,268,926,361
14
5.1 Initially recognised value of fully depreciated assets included in property, plant and equipment are as follows:
Amount in Taka
Building 4,448,824
Plant and machinery 162,169,204
Automobiles and trucks 56,337,900
Office equipment 11,223,881
Computer equipment 6,503,585
Furniture and fixtures 2,857,227
243,540,621
5.2 The freehold land of the company measuring 182.666 acres are located at:
Mirpur, Dhaka 12.000 acres
Pekua, Cox's Bazar 45.190 acres
Barishal Sadar 0.290 acres
Gondogram,Bogra 0.270 acres
Lakshimipur, Rajshahi City Corporation. 0.149 acres
Dogri Rajendrapur, Gazipur 16.763 acres
Kashor Gore, Bhaluka, Mymensing 25.022 acres
Sagordighi, Tangail 13.805 acres
Siddikhali, Tangail 1.050 acres
Ghatail, Tangail 13.234 acres
Dhamsur, Valuka, Mymensingh 16.930 acres
Turag, Dhaka 0.660 acres
Sreepur, Gazipur 13.830 acres
Keranigonj, Dhaka 0.590 acres
Faridpur 0.410 acres
Feni 0.365 acres
Chatropur, Mymensingh 0.558 acres
Phulbaria, Mymensingh 8.503 acres
Mymensingh Depot 0.035 acres
Sylhet Depot ### 0.483 acres
Bogra Depot ### 0.453 acres
Lohaboy, Valuka 4.463 acres
Narangi, Bhaluka 6.605 acres
Comilla Depot 0.580 acres
Salna, Purabari ## 0.307 acres
Sathkhamair, Sreepur 0.120 acres
Total 182.666 acres
5.3 Depreciation for the year has been charged to:

Cost of goods sold - Non-tax holiday units (Note 24.1) 210,317,605
Cost of goods sold - Tax holiday units (Note 24.1) 94,808,813
305,126,418
Administrative, selling and distribution expenses ( Note-25) 39,535,901
344,662,319
5.4. The freehold land and buildings were revalued by a firm of professional valuers in the year 1995 and the
increase in net carrying amount as a result of revaluation were shown as addition/valuation in that year.
5.5 Gain/(loss) on disposal of property, plant and equipment

Amount in Taka
Original Accumulated Net book Sale Profit/
cost depreciation value proceeds (loss)
5,632,500 4,479,644 1,152,856 1,551,705 398,849

5,632,500 4,479,644 1,152,856 1,551,705 398,849
15
Amount in Taka
2013
6. Capital work in-progress
Opening balance 2,061,905,242
Add: Addition during the year 2,381,170,660
4,443,075,902
Less: Capitalized as property, plant and equipment
2,416,992,055
2,026,083,847
This represents mainly construction of buildings for the Rajedrapur General Manufacturing Plant, Sylhet dep
project, installation of plant and machinery, their components and other fixed assets procured from foreign a
vendors.
7. Investment in subsidiaries
This represents investment in share capital of Renata Agro Industries Limited, Purnava Limited and Renata O
Limited. Renata Limited, being the group company, is the owner of 99.99% shares in the mentioned companies.
### Share holding Amount in Taka

No. of shares
### 2013
###
Renata Agro Industries Limited 99.99 419,949 60,570,476
Purnava Limited 99.99 24,999 2,499,900
Renata Oncology Limited 99.99 799,990 79,999,000
1,244,938 143,069,376
8. Investment in shares 3794026

Investment in quoted shares -20323540 56,363,666
Investment in unquoted shares -
56,363,666
0 2.8323898E-006
Market value Book Value
Amount in Amount in Taka
Taka
8.1. Investment in quoted shares
Central Depository Bangladesh Limited 1,569,450 1,569,450
16
BRAC Bank Limited 14,606 13,905
Social Islamic Bank Limited 668 595
EXIM Bank Limited 1,854 1,494
International Leasing & Finance Services Limited 13,272 39,497
United Commercial Bank Limited 2,176 3,422
Peoples Leasing Company Limited 23,942 117,132
Square Pharma Limited 17,458,270 14,220,009
BATBC 5,184,400 1,964,918
Islami Bank (BD) Limited 176,059 163,725
City General Insurance Limited 2,546,500 2,947,834
Meghna Insurance Limited 273,305 266,140
Titas Gas T & D Co Limited 7,380,000 7,979,039
BGIC - -
Global Insurance Limited - -
Mercantile Bank Limited - -
S Alam CR steels Limited - -
Lafarge Surma Cement 6,030,000 6,235,342
First BSRM Mutual Fund 813,000 988,940
DESCO 584,000 598,384
Khulna Power Company Limited 7,409,190 8,051,177
Beacon Pharmaceuticals Limited 924,000 919,011
ICB Islamic Bank 2,440,000 2,720,137
Sonar Bangla Insurance 988,000 1,023,449
United Ai units 1,230,000 1,249,980
Premier Leasing 300,000 336,139
Jamuna Oil 4,795,000 4,953,947
60,157,692 56,363,666
Amount in Taka
2012
9. Inventories
Finished goods
- Pharmaceutical 641,279,133
- Premix 162,386,436
- Contract manufacturing 15,615,418
- Potent product facility 33,862,027
- Cepha Plant 133,518,415
- Penicillin Plant 34,445,377
1,021,106,806
Work-in-process 282,351,925
Raw materials 112,815,887
Bulk materials 212,062,328
Packing materials 120,541,114
Raw and packaging materials-Premix 65,480,136
17
Raw and packaging materials-Contract manufacturing 23,650,209
Raw and packaging materials-Potent product facility 151,884,431
Raw and packaging materials-Cepha plant 56,553,424
Raw and packaging materials-Penicillin plant 13,393,510
Consumable stores and spares 29,539,887
Stock in transit 568,399,597
2,657,779,254
Amount in Taka
2013
10. Trade and other receivables
Trade receivables- unsecured (Note-10.1) 501,844,635
Sundry receivables - unsecured considered good 414,599,030
Value Added Tax (VAT) recoverable 226,150,691
1,142,594,356
*All trade receivables are kept as a security against short term bank loans.
-
10.1 Trade debtors
Receivables due under six months 414,737,964
Receivables due over six months 87,106,671
501,844,635
Amount in Taka
11. Advances, deposits and prepayments 2013
Advances:
For inventories 1,229,125
To employees 95,366,682
96,595,807
Deposits and prepayments:
Security deposits 13,456,510
Prepaid expenses 64,847,623
78,304,133
174,899,940
12. Cash and cash equivalents
18
Cash in hand 1,285,000
Cash at bank 238,977,925
240,262,925
13. Share capital

Authorized share capital
100,000,000 Ordinary shares of Taka 10 each. 1,000,000,000
Issued, subscribed and paid up capital

1,294,260 Ordinary shares of Taka 10 each issued for cash. 12,942,600
1,724,490 Ordinary shares of Taka 10 each issued for consideration other than
cash. 17,244,900
32,283,593 Ordinary shares of Taka 10 each issued as fully paid bonus shares. 322,835,930
353,023,430
The shares are listed in the Dhaka Stock Exchange (DSE) Limited and quoted at Tk 722.00 per share on 31 De
2013.
19
At 31 December 2013 the share holding position of the company was as follows:
Number of Face value
There are contingent liabilities on account of unresolved dispu shares Taka
Sajida Foundation 18,004,045 180,040,450

Business Research International Corp. Inc. 7,919,421 79,194,210
ICB Unit Fund 1,175,233 11,752,330
Investment Corporation of Bangladesh 1,126,311 11,263,110
There are contingent liabilities on account of unresolved VAT c 640,608 6,406,080
Bangladesh fund 574,000 5,740,000
Shadharan Bima Corporation 1,544,468 15,444,680
First Bangladesh Fixed Income Fund 392,996 3,929,960
Other local shareholders 3,925,261 39,252,610
35,302,343 353,023,430
Classification of shareholders by holdings:

2013
No. of holders No. of holders Number of No. of total
Holdings as per folio as per BOID total holders share holdings
Less than 500 shares 224 2,623### 2,847 314,272

501 to 5000 shares 65 436 501 746,916
5,001 to 10,000 shares 23 49 72 521,297
10,001 to 20,000 shares 9 34 43 640,987
20,001 to 30,000 shares 6 10 16 395,282
30,001 to 40,000 shares 1 5 6 200,449
40,001 to 50,000 shares - 3 3 143,714
50,001 to 100,000 shares 1 7 8 558,688
100,001 to 1,000,000 shares - 8 8 2,780,743
Over 1,000,000 shares 2 3 5 28,999,995
331 3,178 3,509 35,302,343
20
Amount in Taka
2012
1,370,222,641
1,524,143,603
2,894,366,244
832,461,002
2,061,905,242
g Plant, Sylhet depot, ERP

ured from foreign and local
imited and Renata Oncolgy

ntioned companies.
Amount in Taka
2012
60,570,476
2,499,900
-
63,070,376
18,363,123
30,592,153
48,955,276
Book Value
Amount in Taka
1,569,450
21
15,288
595
1,376
33,844
3,422
117,135
7,464,033
1,964,919
163,727
1,246,968
1,102,492
1,534,112
1,174,608
951,642
517,512
502,000
-
###
-
-
###
-
###
-
###
18,363,123
Amount in Taka
2011
467,732,339
68,545,307
11,324,024
25,128,008
84,233,395
22,965,978
679,929,051
104,125,881
92,322,667
114,408,205
81,953,318
102,088,148
22
16,496,756
24,518,393
49,205,740
4,717,158
6,726,968
308,607,894
1,585,100,179
Amount in Taka
2012
461,942,102
229,589,653
151,699,512
843,231,267
403,812,232
58,129,870
461,942,102
Amount in Taka
2012
326,804
93,951,204
94,278,008
15,117,080
39,556,505
54,673,585
148,951,593
23
1,265,000
330,027,974
331,292,974
1,000,000,000
12,942,600
17,244,900
252,231,250
282,418,750
per share on 31 December
24
% of total
holding
51.00
22.43
3.33
3.19
1.81
1.63
4.37
1.11
11.12
100.00
% of total
holdings
0.89%
2.12%
1.48%
1.82%
1.12%
0.57%
0.41%
1.58%
7.88%
82.15%
100.00%
25
14. Revaluation surplus
The freehold land and buildings were revalued by a firm of professional valuers in the year 1995 and the
resulting increase in value of Tk. 220,423,329 has been shown as revaluation surplus. The breakup of
revaluation surplus is as follows:
Amount in Taka
2013
Land 179,132,078
Buildings 30,776,118
209,908,196
Less: Depreciation charged during the year on revaluation of buildings (635,885)

209,272,311
Less: Adjustment of deferred tax on revaluation surplus 51,794,897
157,477,414
15. Retained earnings
Opening balance 4,423,495,721

Total comprehensive income for the year 1,394,877,599
Tax holiday reserve (42,887,265)
Stock dividend issued (70,604,680)
Cash dividend paid ### ### (169,451,250)
-
Depreciation adjustment on revalued assets 635,885
Closing balance 5,536,066,012
16. Deferred liability-staff gratuity
The company operates an unfunded gratuity scheme for its employees. Provision for gratuity is charged to profi
annually to cover obligations under the scheme on the basis of an estimate made by the management of th
company to maintain full provision at the balance sheet date. The breakup of accumulated provision for gratui
is as follows:
Opening balance 175,366,283

Add: Provision made during the year 51,605,718
226,972,001
Less: Paid during the year 14,031,916
Closing balance 212,940,085
20
uers in the year 1995 and the
tion surplus. The breakup of
Amount in Taka
2012
179,132,078
31,412,003
210,544,081
(635,885)
209,908,196
51,952,279
157,955,917
3,442,795,036
1,247,275,330
(75,165,779)
(56,483,750)
(135,561,000)
-
635,885
4,423,495,721
for gratuity is charged to profits

made by the management of the
cumulated provision for gratuity
149,138,826
40,058,988
189,197,814
13,831,531
175,366,283
20
17. Deferred tax liability
Amount in Taka
2013

Addition during the year 197,380,264
469,421,687
Reduction of deferred tax on revaluation surplus (Note 14) (157,382)
Amount in Taka
Carrying Tax base
amount on
balance sheet balance sheet
4( date
date
24
At 31 December 2013. ,0
8,
Property, plant and equipment (excluding land): 81
At cost less accumulated depreciation 4,365,513,656 72 2,398,258,895
,
Revaluation surplus 209,272,311 52 -
,
4,574,785,967 61 2,398,258,895
57
Provision for s 2E+008 (212,940,085) 8 -
Provision for 6E+009 (28,940,871) ) -
Provision for 2E+008 (38,628,723) -
Net temporary difference -
Applicable tax rate - -
Deferred tax liability/(asset) - -
At 31 December 2012
Property, plant and equipment (excluding land):

At cost less accumulated depreciation 2,371,631,417 1,254,546,644
-
Revaluation surplus 209,908,196 -
2,581,539,613 1,254,546,644
Provision for staff gratuity (net of payment) (175,366,283) -

Provision for obsolete and slow moving inventories (28,895,301) -
Provision for doubtful debts (23,574,121) -
Net temporary difference - -
Applicable tax rate - -
Prior year adjustment - -
21
21
Amount in Taka
2012
198,004,754
74,194,051
272,198,805
(157,382)
272,041,423
nt in Taka
Taxable/
(deductible)
temporary
difference
1,967,254,761
209,272,311
2,176,527,072
(212,940,085)
(28,940,871)
(38,628,723)
1,896,017,393
24.75%
469,264,305
1,117,084,773
209,908,196
1,326,992,969
(175,366,283)
(28,895,301)
(23,574,121)
1,099,157,264
24.75%
272,041,423
-
21
272,041,423
21
Amount in Taka
2013
18. Long term loan Limit
BDT
SCB 400,000,000 225,000,000
HSBC USD 10 million 777,500,000 482,050,000
1,177,500,000 707,050,000
Nature of Security
SCB Loan:
(i) Registered mortgage over industrial land in Rajendrapur where Hormone Plant-2 is situated.
(ii) First Charge over all the present and future inventories, trade receivables, receivables claims, contracts,
bills, plant, machinery and equipment of the Renata Limited.
(iii) Terms of Repayment: Twelve equal quarterly installments commencing from August 2012.
(iv) Rate of interest : Current rate 13.0%
HSBC
Loan:
(i) Registered mortgage over 376.77 decimals industrial land along with all structures in Rajendrapur
(ii) First Charge over all the present and future inventories, trade receivables, receivables claims, contracts,
bills, plant, machinery and equipment of the Renata Limited.
(iii) Terms of Repayment: Twenty equal quarterly installments
(iv)Rate of interest : 3-months USD LIBOR+4.50% p.a.
19. Non-convertible Bond
At 31 December 2013 the institutional investors list are given below:

### Taka
Trust Bank Fi ### -
Popular Life ### 70,000,000
PHP First Mutual Fund 30,000,000
AB Bank First Mutual Fund 150,000,000
First Bangladesh Fixed Income Fund 470,000,000
The premier Bank Limited 250,000,000
Central Depository Bangladesh Limited 30,000,000
1,000,000,000
Renata Limited raised capital amounting to Taka 1,000,000,000 through issuance of non-convertib
subordinated bonds to institutional investors at fixed rate interest 12% p.a. Interest will be paid to investors on
half yearly basis. The non convertible bond will be matured after 2 years from the date of issue (17.12.12).
22
20. Short term bank loan
Eastern Bank Limited 750,000,000 198,368,822
The Hongkong Shanghai Banking Corporation
Limited 2,605,000,000 1,080,064,569
City Bank Limited 500,000,000### 224,928,066
Standard Chartered Bank Limited 1,700,000,000### 681,314,496
Citibank N. A. 800,000,000 75,135,397
Bank Asia Limited 750,000,000 479,056,935
Commercial Bank of Ceylon Limited 600,000,000 302,455,966
Agrani Bank Limited - ### -
7,705,000,000 3,041,324,251
Security
i) First charge over all present and future inventories and trade receivable of Renata Limited jointly wit
Eastern Bank Limited, Bank Asia Limited, Commercial Bank of Ceylon Limited,The Hongkon
Shanghai Banking Corporation Limited, Citibank N A, City Bank Limited and Standard Chartered Ban
Limited under pari-passu security sharing agreement.
ii) First charge over all present and future plant and machinery of Renata Limited jointly as above.
21. Provisions and other liabilities

Provisions:
Provision for diminution in value of investment -
Provision for doubtful debts 38,628,723
Provision for obsolete inventories 28,940,871
Provision for meeting expenses 23,645,788
91,215,382
Other liabilities:
Workers' profit participation fund 182,822,825
Workers' welfare fund 23,107,713
VAT Payable 28,825,822
Withholding VAT 78,303
Export commission payable 13,562,446
Vouchers Payable journalized 4,381,706
Toll manufacturing charges payable-Ziska 9,177,151
Royalty payable 6,178,321
Grant from GAIN 1,919,643
Novartis (BD) Limited -
HLL Lifecare Limited 45,106
23
Purnava Limited -
270,099,036
361,314,418
22. Provision for taxation

Add: Provision made during the year 293,237,957
695,348,048
Less: Tax paid during the year (Including advance tax) 324,752,956
24
Amount in Taka
2012
358,333,333
-
358,333,333
-2 is situated.
ivables claims, contracts,
August 2012.
ures in Rajendrapur
ivables claims, contracts,
Taka
100,000,000
70,000,000
30,000,000
150,000,000
370,000,000
250,000,000
30,000,000
1,000,000,000
issuance of non-convertible
st will be paid to investors on a
date of issue (17.12.12).
25
92,477,109
1,124,326,213
248,532,627
139,741,808
39,976,735
166,364,252
-
1,186,434
1,812,605,178
of Renata Limited jointly with

ylon Limited,The Hongkong
and Standard Chartered Bank
ited jointly as above.
259,303
23,574,121
28,895,301
21,446,419
74,175,144
150,837,613
41,782,933
31,536,994
233,277
9,591,772
2,214,592
4,834,065
4,826,079
8,913,093
1,659,204
-
26
9,856,344
266,285,966
340,461,110
255,275,989
400,255,434
655,531,423
253,421,332
402,110,091
27
Amount in Taka
2013
Gross
Less: VAT
Turnover
23. Turnover
Non-tax holiday units:
Pharmaceutical products 6,359,326,356 878,397,036
Animal health products 1,774,479,770 131,010,880
Contract manufacturing 541,690,692 34,010,569
8,675,496,818 1,043,418,485
Tax holiday units :
Cepha plant 1,114,552,150 191,595,100
Penicillin plant 244,401,508 42,031,143
1,358,953,658 233,626,243
10,034,450,476 1,277,044,728
23.1 During the year sale of pharmaceutical products includes export sale of Tk.267,360,272 equivalent to US$ 2,6
23.2 Item-wise production/purchases and sale of 605 finished goods formulations consisting of pharmaceutic
products, premix feed supplement, potent products and other medical products in various forms viz capsule
dry and liquid syrup, ointments, sachets, etc. are stated below by major product group and their total value:
Opening Production/
Major product group Unit stocks purchases
Sterile dry fill (injectable) Vials 636 4,140

Sterile liquid fill (injectable) Vials & Ampoules 1,818 9,800
Ointments and eye/ear drops Tube 3 424
Capsules and tablets Capsules & Tablets 274,308 1,147,147
Oral liquid and dry syrup Bottles 1,678 15,641
Rabipur Vaccine Vials 99 378
Potent products Capsules & Tablets 60,736 2,137,646
Premix -Animal nutrition Kg 504 5,028
-Animal nutrition Sachets 380 3,367
Oral saline Sachets 2,646 95,629
Taka in '000 781,379

### 4,556,503
24. Cost of Sales

2013
Non-tax holiday Tax holiday units
units Cepha Penicillin
plant plant
24
Opening stock of finished goods 653,130,377 104,750,769 # 23,498,110
Add.Cost of goods manufactured
(Note 24.1) 3,546,572,826 583,719,196### 169,686,050
Cost of finished goods 256,524,505 - -
4,456,227,708 688,469,965 193,184,160

Less: Closing stock of finished
goods (Note-9) 853,143,014 133,518,415 # 34,445,377
3,603,084,694 554,951,550 158,738,783
2013
Plant Plant
24.1 Cost of goods manufactured
Opening work-in-process 103,404,295 22,888,131 8,833,307

Add: Cost of raw materials
consumed (Note 24.2) 2,720,804,134 357,978,530 58,358,344
2,824,208,429 380,866,661 67,191,651
Less: Closing work-in-process 234,157,234 43,787,322 4,407,369
Cost of materials 2,590,051,195 337,079,339 62,784,282
Manufacturing overhead 956,521,631 246,639,857 106,901,768
Salaries, wages and other benefits
211,677,023 51,172,295 13,709,567
Company's contribution to
provident fund 2,234,817 959,254 257,606
Net periodic cost for gratuity 15,056,088 3,526,757 947,109
Electricity and fuel 197,571,684 66,610,456 37,002,488
Consumable stores, supplies and
manufacturing expenses 91,560,556 12,743,648 6,085,505
Insurance 4,835,113 333,688 198,624
Land revenue and taxes 2,728,671 460,154 273,901
Rent 1,835,185 872,503 698,336
Automobile expenses 9,925,062 939,647 559,313
Postage and telephone 2,313,259 695,023 240,996
Stationeries & Supplies 12,870,218 3,734,219 1,722,750
Uniforms for workers 4,241,358 566,355 320,427
Travelling and moving expenses 11,989,760 5,785,319 2,943,439
Repair and maintenance 110,516,718 22,815,004 10,066,975
Lunch, snacks and tea expenses 60,897,114 8,051,818 3,292,748
Depreciation 210,317,605 66,654,613 28,154,200
Other overhead expenses 5,951,400 719,104 427,784
Cost of goods manufactured 3,546,572,826 583,719,196 169,686,050
25
2013
Plant Plant
24.2 Cost of raw materials consumed

Opening stock 656,470,908 38,276,686 11,035,888
Add: Purchase during the year 2,750,767,331 376,255,268 60,715,966
3,407,238,239 414,531,954 71,751,854
Less: Closing stock 686,434,105 56,553,424 13,393,510
2,720,804,134 357,978,530 58,358,344
24.3 Purchases, issues and stocks of raw materials
Purchases, issues and stocks of raw materials are of over 2200 items involving production over 600 finishe
measurement are expressed in different units viz kilogram, activity, liter, pieces etc. In view of different units
has been presented in value only.
Purchases, issues and stocks of raw materials are of over 2000 items involving production of 476 finishe
measurement are expressed in different units viz kilogram, activity, liter, pieces etc. In view of different units
has been presented in value only.
Opening
Major material group Purchases
stocks
Active materials (Note 25.4) 199,682,148 1,037,120,217

Raw materials (Note 25.4) 141,130,787 471,956,975
Packaging materials (Note 25.4) 111,466,981 468,334,855
Premixes - Raw and packaging materials 98,763,736 247,224,554
Contract manufacturing 20,520,870 144,238,966
Potent product facility 84,906,386 381,891,814
656,470,908 2,750,767,381
Tax holiday units:
Cepha plant 38,276,686 376,255,218
Penicillin plant 11,035,888 60,715,967
49,312,574 436,971,185
705,783,482 3,187,738,566
Consumable stores 2,809,825 5,168,200

Maintenance stores and spares 971,911 44,543,718
3,781,736 # 49,711,918
709,565,218 3,237,450,484
26
24.4 Summarized quantity of purchases, issues and stocks of raw materials.
Summarized quantity of purchases, issues and stocks of raw materials are stated below by their major pro
value.
Active materials:
Opening
Major product group Unit Purchases
stocks
Local KG/KGA 3,188 43,513
Imported KG/KGA/BU 22,181 205,318
Taka 199,682,148 1,037,120,217
Procurement of active materials consist of 305 items of which 90% of the total value were imported during the
Raw materials
Opening
stocks
Excipients KG 169,186 545,230

Colour KG 753 3,210
Empty gelatin capsules (000's) PCS 40,085 238,856
Flavor KG 1,990 4,406
Sugar KG 37,218 742,725
Sorbitol KG 29,221 69,600
Glucose KG 38,900 96,000
Lactose KG 28,202 144,850
Taka 141,130,787 471,956,975

Purchase of raw materials involve 490 items of which 80% in value were imported during the year.
27
Packaging materials:
Opening
stocks
Cartons PC 8,801,899 52,061,725
Labels PC 5,008,063 8,871,174
Direction slip PC 12,432,994 46,895,700
Catch covers PC 8,584,661 16,975,518
Vials PC 1,606,584 9,749,482
Bottles PC 1,534,938 15,100,621
Ampoules PC 1,561,146 14,420,527
Plastic spoons/ droppers PC 6,430,080 22,221,510
PP caps/ Al seals PC 3,534,309 18,279,800
Rubber plugs PC 1,851,200 10,600,000
Aluminium foil KG 41,205 234,105
PVC hard KG 14,197 245,674
Taka 111,466,981 468,334,855

Packaging materials involve about 1410 items of which 52% in value were imported during the year.
Materials available locally were procured from the local manufacturers. Materials were imported from the
directly from the manufacturers or suppliers approved by the Drug Administration:
India Japan Italy New Zealand

China Thailand Denmark Indonesia
Hong Kong South Korea Spain Argentina
Singapore Germany USA Brazil
Malaysia UK Austria Czeck Republic
25. Administrative, selling and distribution expenses
2013
Plant Plant
Taka Taka Taka
Salaries, wages and allowances 666,557,857 79,551,218 9,680,883
Contribution to Provident Fund 14,730,626 1,761,394 218,920
Net periodic cost for gratuity 30,285,836 1,408,460 381,468
Electricity and power 20,802,714 2,487,358 309,150
Rent, rates and taxes 7,258,281 867,865 107,865
Insurance 5,253,992 628,214 78,080
Travelling expenses 155,366,841 18,577,045 2,308,912
Repairs and maintenance 19,488,244 2,330,187 289,615
Legal and professional expenses 4,485,944 536,380 # 66,666
Provision for bad debts 12,867,596 1,538,564 191,226
Audit fees 500,000 - ###
Directors' fees 360,000 - ###
28
Membership fees and subscription
3,282,487 392,484 48,781
Meeting and corporate expenses 22,711,561 2,715,596 337,517
Sales promotion 59,191,332 7,074,706 879,303
Field expenses 366,380,980 39,134,732 # 4,863,994
Depreciation 39,535,901 -### -
Stationery and supplies 27,810,988 3,325,329 413,299
Postage, telex, fax and telephone 17,808,251 2,129,312 264,653
Distribution freight 184,903,823 20,479,401 2,545,352
Lunch, snacks, tea and welfare
expenses 75,364,635 9,011,269 1,119,997
Other overhead expenses* 79,470,430 9,289,574 1,154,588
1,814,418,319 203,239,088 25,260,269
*Other overhead expenses do not exceed 1% of total revenue. So no separate items of these expenses is req
separate account head as per schedule XI of the Companies Act-1994.
25.1 The company engaged 4,334 employees of which 3,113 are permanent employees and 1214 are Casual a
required. All employees received total remuneration of above Tk. 36,000 per annum.
29
26. Other Income
Interest income
Dividend income
Exchange gain/(loss)
Gain from sale of listed shares
Scrap sales & others
27. Basic earnings per share (EPS)

The computation of EPS is given below:
Earnings attributable to the ordinary shareholders (net profit after tax)
Weighted average number of ordinary shares outstanding during the year (Note-27.1)
Basic earning per share (EPS)
27.1 Weighted average number of share outstanding during the year

Opening number of shares
Bonus shares issued in June 2013
*Last year's EPS has been adjusted as per the requirement of BAS-33 "earnings per share"
28. Payments to directors and officers

The aggregate amount paid (except directors' fees for attending board meetings in note 25) during the year to
Company are disclosed below as required by the Securities and Exchange Rules-1987.
Remuneration
House rent
Bonus
Contribution to provident fund
Gratuity
Medical expenses
Conveyance allowance and transport
Other welfare expenses
28.1 During the year no payment has been made to any non-executive Directors for any special services rendered.
29. Capacity utilization - single shift basis
The company operates multi-products plants. As a result plant utilization is not comparable with capacity d
mix. However, actual production and utilization for major products groups are as follows:
Capacity 2013
Major product Actual Utilization
Unit
group production
30
Major product
Unit
group
(In "000") (In "000") %
Sterile dry fill

(injectable) Vials 6,500 4,140 63.69%
Sterile liquid Vials &
(injectable) ampoules 10,500 9,800 93.33%
Ointments,
eye/ear drops Tubes 1,500 424 28.27%
Capsules and
tablets Cap/Tab 900,000 1,147,147 127.46%
Oral liquid & dry
syrup Bottles 14,400 15,641 108.62%
Water for
injection Ampoules 2,875 4,246 147.69%
Premix feed
supplement Kg 4,500 5,028 111.73%
Premix feed
supplement Sachets 3,000 3,367 112.23%
ORAL saline Sachets 720,000 828,000 115.00%
Potent Products Tablets 2,000,000 2,137,646 106.88%
30. Contingent liabilities and assets
30.1 There are contingent liabilities on account of unresolved disputed corporate income tax assessments invol
authority amounting to Tk 57,868,443 for which appeals are pending with the Commissioner of Taxes(Appea
of the Supreme Court. However, tax paid and provided for the relevant years are adequate to meet the demand
30.2 There are contingent liabilities on account of unresolved VAT cases claimed by the authority amounting to B
appeals are pending with the High Court division of the Supreme Court and VAT appellate tribunal.
30.3 Renata Limited purchased land of 16.93 acre at Mouza Dhamsur, Union: Mollick Bari, Thana: Bhaluka, Di
BDT 200,163,438. After acquisition local people made disputes on that land and Renata Limited filed suit
Court which is under trial.
30.4 Additional contingent liabilities exist in respect to the following:
Outstanding letters of credit (Note 30.4.1)

Outstanding guarantees issued by the banks
31
30.4.1 Outstanding letters of credit Limit
The Hong Kong and Shanghai Banking Corporation Limited 1,350,000,000

Standard Chartered Bank Limited 1,200,000,000
Eastern Bank Limited 550,000,000
The City Bank Limited 320,000,000
City Bank N.A 799,200,000
Commercial Bank of Ceylon 400,000,000
Bank Asia Limited 250,000,000
4,869,200,000
31. Capital expenditure commitment
There was no unprovided committed capital expenditure as at 31 December 2013.
32. Dividend paid to non-resident shareholders
Dividend paid to non-resident shareholder, Business Research International Corp. Inc. during the year
equivalent to US$.377,949.99 for their 6,140,900 shares.
33. Claims against the company not acknowledged as debt
None as at 31 December 2013
32
Amount in Taka
013 2012
Turnover Turnover
(net) (net)
5,480,929,320 4,835,012,203
1,643,468,890 1,313,764,131
507,680,123 475,026,479
7,632,078,333 6,623,802,813
922,957,050 868,949,984
202,370,365 178,819,506
1,125,327,415 1,047,769,490
8,757,405,748 7,671,572,303
2 equivalent to US$ 2,660,026
sting of pharmaceutical products, animal health

ious forms viz capsules, tablets, vials, ampoules,
nd their total value:
Figure in '000
Closing
Less: Sales stocks
3,569 1,207
9,703 1,915
423 4
1,122,459 298,996
15,146 2,173
306 171
2,132,180 66,202
5,494 38
2,881 866
90,658 7,617
4,316,775 1,021,107
Amount in Taka
2012
Total
Total
33
781,379,256 679,929,051
4,299,978,072 3,444,234,394
256,524,505 276,829,455
5,337,881,834 4,400,992,900
1,021,106,806 781,379,256
4,316,775,028 3,619,613,644
Amount in Taka
2012
Total Total
135,125,733 104,125,881
3,137,141,008 2,463,834,650
3,272,266,741 2,567,960,531
282,351,925 135,125,733
2,989,914,816 2,432,834,798
1,310,063,256 1,011,399,595
276,558,885 213,050,571
3,451,677 3,044,698
19,529,954 11,581,000
301,184,628 227,923,433
110,389,709 96,697,292
5,367,425 5,491,194
3,462,726 4,004,028
3,406,024 460,156
11,424,022 12,847,224
3,249,278 2,728,438
18,327,187 9,831,840
5,128,140 3,746,965
20,718,518 25,064,229
143,398,697 72,670,182
72,241,680 65,694,553
305,126,418 250,137,004
7,098,288 6,426,788
4,299,978,072 3,444,234,393
34
Amount in Taka
2012
Total Total
705,783,482 485,710,385
3,187,738,565 2,683,907,747
3,893,522,047 3,169,618,132
756,381,039 705,783,482
3,137,141,008 2,463,834,650
uction over 600 finished goods formulations. The

view of different units in use, the following table
duction of 476 finished goods formulations. The

view of different units in use, the following table
Amount in Taka
Closing
Consumption
stocks
1,024,740,037 212,062,328
500,271,875 112,815,887
459,260,722 120,541,114
280,508,154 65,480,136
141,109,627 23,650,209
314,913,769 151,884,431
2,720,804,184 686,434,105
357,978,480 56,553,424
58,358,345 13,393,510
416,336,825 69,946,934
3,137,141,009 756,381,039
4,642,193 3,335,832
19,311,574 26,204,055
23,953,767# 29,539,887
3,161,094,776 785,920,926
35
ow by their major product group and their total
Closing
Issues
stocks
39,098 7,603
186,609 40,890
1,024,740,037 212,062,328
ere imported during the year.
Amount in Taka
Closing
Issues
stocks
528,861 185,555
2,317 1,646
227,118 51,823
4,702 1,694
708,667 71,276
86,672 12,149
101,742 33,158
137,148 35,904
500,271,875 112,815,887
ng the year.
36
Closing
Issues
stocks
50,997,112 9,866,512
9,454,580 4,424,657
48,903,509 10,425,185
17,550,242 8,009,937
9,110,757 2,245,309
14,882,508 1,753,051
12,563,492 3,418,181
26,211,442 2,440,148
18,029,107 3,785,002
10,522,052 1,929,148
212,758 62,552
215,795 44,076
459,260,722 120,541,114
during the year.
ere imported from the following countries either
Amount in Taka
2012
Total Total
Taka Taka
755,789,958 736,869,456
16,710,940 15,291,344
32,075,764 28,477,989
23,599,222 24,216,677
8,234,011 8,805,897
5,960,286 6,828,788
176,252,798 181,135,904
22,108,046 18,158,585
5,088,990 4,598,758
14,597,386 283,883
500,000 500,000
360,000 300,000
37
3,723,752 2,516,195
25,764,674 46,320,398
67,145,341 89,372,685
410,379,706 343,622,096
39,535,901 37,213,242
31,549,616 23,594,590
20,202,216 20,589,500
207,928,576 174,366,380
85,495,901 54,195,407
89,914,592 73,601,486
2,042,917,676 1,890,859,261
f these expenses is required to be disclosed under
and 1214 are Casual and Temporary Workers as
38
Amount in Taka
2013 2012
4,371,668 2,808,842
3,916,172 869,275
(20,323,540) (1,530,453)
5,599,421 1,811,270
5,552,574 4,036,521
(883,705) 7,995,455
1,391,083,573 1,237,926,366
35,302,343 35,302,343
39.40 35.07
28,241,875
7,060,468
35,302,343
25) during the year to directors and officers of the
Amount in Taka
Directors Officers
5,964,756 234,550,830
3,795,000 143,810,451
2,485,315 66,803,053
596,475 16,115,044
662,750 31,412,638
174,271 2,488,974
1,113,200 129,678,229
990,000 39,448,714
15,781,767 664,307,933
cial services rendered.
parable with capacity due to variation of product

ws:
2012
Actual Utilization
production
39
(In "000") %
3,999 61.52%
9,146 87.10%
838 55.87%
1,038,143 115.35%
15,635 108.58%
2,797 97.29%
4,571 101.58%
2,928 97.60%
72,560 10.08%
1,979,302 98.97%
tax assessments involving tax claims by the tax

ssioner of Taxes(Appeal) and High Court division
ate to meet the demanded tax.
uthority amounting to BDT 28,825,822 for which

ate tribunal.
ri, Thana: Bhaluka, Dist.: Mymensing in 2011 by

nata Limited filed suite in the Mymensing Judge
Amount in Taka
2013 2012
549,801,999 945,547,602
50,125,875 53,564,285
599,927,874 999,111,887
40
278,296,845 368,361,032
22,298,096 269,603,566
26,944,983 34,723,058
2,141,622 19,573,214
21,080,877 245,922,378
157,964,911 -
41,074,665 7,364,354
549,801,999 945,547,602
Inc. during the year 2013 was Tk.29,476,320
41
34. Payments/receipts in foreign currency
34.1 During the year the following payments were made in foreign currency for imports calculated on CIF basis of:
Foreign
currency
US$
Active, raw and packaging materials 36,165,143
Machinery and spares 18,494,205
54,659,348
34.2 The following expenses were incurred during the year in foreign exchange on account of:
Professional consultation fee US$
Export promotional expenses US$
Product registration US$
34.3 Foreign exchange was earned in respect of the following:
Export of goods on FOB US$
35. Related Party Disclosure
During the year the company carried out a number of transactions with related parties in the normal cou
business on an arm's length basis. Name of those related parties, nature of those transaction and their total valu
been shown in the below table in accordance with the provisions of BAS-24- "Related Party Disclosure".
Amount in Taka
Transaction-2013
Name of the Party Relationship Nature of transaction Opening balance Addition Adjustment
Taka Taka Taka
1. Renata Agro
Industries Limited Subsidiary Sale of goods 11,968,666 19,647,775 23,538,091
Advance payment 62,619,346 - 59,622,475
Short term loan 30,000,000 110,000,000 -
104,588,012 129,647,775 83,160,566
2. Purnava Limited Subsidiary Purchase of goods - 236,246,160 ###

Advance Received (9,856,344) 95,193,440 -
(9,856,344) 331,439,600 236,246,160
3. Renata Oncology LimSubsidiary Advance payment - 73,984,168
36. General
1) All the figures in the financial statements represent Bangladesh Taka currency (BDT) rounded off to the n
integer.
30
2) The comparative information has been disclosed in respect of 2013 for all numerical information in the fin
statements and also the narrative and descriptive information as found relevant for understanding of the c
year's financial statements.
3) To facilitate comparison, certain relevant balances pertaining to the previous year have been rearrang
reclassified whenever considered necessary to conform to current year presentation.
30
ulated on CIF basis of:
Local
currency
Taka
2,811,894,294
1,437,924,467
4,249,818,761
244,416
382,033
42,073
2,660,026
ies in the normal course of

tion and their total value has
arty Disclosure".
Amount in Taka
2013
Closing balance
8,078,350
2,996,871
140,000,000
151,075,221
85,337,096
85,337,096
73,984,168
T) rounded off to the nearest
30
information in the financial
understanding of the current
ar have been rearranged or
30
18
Renata Limited
Consolidated Statement of Financial Position
As at 31 December 2013
Amount in Taka
Notes
ASSETS 2013
Non-current assets
Property, plant and equipment 5 6,762,838,079
Capital work-in-progress 6 2,178,970,232
Investment in shares and others 7 75,166,811
Other Investment 8 18,881,156
Total non-current assets 9,035,856,278
Current assets
Inventories 9 2,763,455,400
Trade and other receivables 10 875,057,900
Advance, deposits and prepayments 11 174,165,543
Cash and cash equivalents 12 253,481,805
Total current assets 4,066,160,648
Total assets 13,102,016,926
Share capital 353,023,430

Revaluation surplus 157,477,415
Retained earnings 5,741,278,054
Equity attributable to equity holders of Renata Limited 6,537,863,881
Non-controlling interest 37,733
Total equity 6,537,901,614
Long term loans - net of current portion 13 477,306,667
Non-convertible bond - net of current portion 14 -
Deferred liability-staff gratuity 214,316,148
Deferred tax liability 15 473,840,609
Total non-current liabilities 1,165,463,424
Current liabilities
Short term loan and overdraft 16 3,057,538,347
Long term loans - net of current portion 13 229,743,333
Non-convertible bond - net of current portion 14 1,000,000,000
Trade and other payables 17 452,003,962
Provisions and other liabilities 18 278,214,611
Unclaimed dividend 9,915,748
Total current liabilities 5,398,651,888
Total liabilities 6,564,115,312
Total equity and liabilities 13,102,016,926
The annexed notes 1 to 32 form an integral part of these financial statements.
________________
CEO & Managing Director Director Chief Financial Offic
As per our report of same date
_________________
Dhaka, Chartered Accountan
on
Amount in Taka
2012
4,618,057,755
2,095,046,123
37,166,268
49,473,309
6,799,743,455
2,119,780,626
761,068,799
153,839,131
338,591,526
3,373,280,082
10,173,023,537
282,418,750
157,955,917
242,592,280
4,623,411,688
5,306,378,635
35,966
5,306,414,601
281,670,201
1,000,000,000
175,366,283
272,041,423
1,729,077,907
1,896,082,318
133,333,333
-
342,827,054
354,765,257
7,907,075
402,615,993
3,137,531,030
4,866,608,937
10,173,023,537
al statements.
__________________
Chief Financial Officer
___________________
Chartered Accountants
Renata Limited
Consolidated Statement of Comprehensive Income
Amount in Taka
Notes
2013
Turnover 20 9,130,607,862
Cost of sales 21 (4,649,847,166)
Gross profit 4,480,760,696
Operating expenses:
Administrative, selling and distribution expenses 22 (2,075,286,686)
Operating profit 2,405,474,010
Other income 32,579,378
Gain/(loss) on disposal of property, plant and equipment 398,849
Finance costs (451,030,569)
Contribution to WPPF (94,570,671)
Profit before tax 1,892,850,997
Tax expenses
Current tax (293,878,752)
Deferred tax (201,956,568)
(495,835,320)
Net profit after tax for the year 1,397,015,677
Other comprehensive income
Gain/(loss) on quoted shares (unrealized) 3,764,204
Total comprehensive income attributable to:

Equity holders of Renata Limited 1,400,779,114
Non controlling interest 767
Basic earnings per share 24 39.57
The annexed notes 1 to 32 form an integral part of these financial statements.
_________________
CEO & Managing Director Director Chief Financial Officer
As per our report of same date

_________________
Dhaka, Chartered Accountants
ncome
Amount in Taka
2012
7,858,515,209
(3,809,096,979)
4,049,418,230
(1,934,228,052)
2,115,190,178
26,984,270
(218,312)
(386,837,269)
(85,618,793)
1,669,500,074
(400,607,201)
(74,194,051)
(474,801,252)
1,194,698,822
(252,830)
1,194,445,992
1,194,452,418
(6,426)
1,194,445,992
33.84
ncial statements.
_________________
_________________
Renata Limited
Consolidated statement of changes in equity
Amount in Taka
Share Revaluation Tax holiday Retained Non controlling

Particulars Total Total
capital surplus reserve earnings interest
Balance at 01 January 2012 225,935,000 158,434,421 167,426,501 3,695,533,913 4,247,329,835 42,392 4,247,372,227
Stock dividend issued 56,483,750 - - (56,483,750) - - -
Cash dividend paid - - - (135,561,000) (135,561,000) - (135,561,000)
Deferred tax on revaluation surplus - 157,382 - - 157,382 - 157,382
Depreciation adjustment of revalued assets - (635,885) - 635,885 - - -
Total comprehensive income for the year - ### - 1,194,452,418 1,194,452,418 (6,426) 1,194,445,992
Transferred to tax holiday reserve - ### 75,165,779 (75,165,779) - -
Balance at 31 December 2012 282,418,750 157,955,918 242,592,280 4,623,411,687 5,306,378,635 35,966 5,306,414,601
Balance as at 1 January 2013 282,418,750 157,955,918 242,592,280 4,623,411,687 5,306,378,635 35,966 5,306,414,601
Stock dividend issued 70,604,680 - - (70,604,680) - - -
Cash dividend paid - - - (169,451,250) (169,451,250) - (169,451,250)
Deferred tax on revaluation surplus - 157,382 - - 157,382 - 157,382
Depreciation adjustment of revalued assets - (635,885) - 635,885 - - -
Total comprehensive income for the year - ### - 1,400,779,114 1,400,779,114 767 1,400,779,881
Transferred to tax holiday reserve - ### 43,492,702 (43,492,702) - - -
Minority share in Renata Oncology Ltd. - ### - - - 1,000 1,000
Balance at 31 December 2013 353,023,430 157,477,415 286,084,982 5,741,278,054 6,537,863,881 37,733 6,537,901,614
Renata Limited
Consolidated statement of cash flows
Amount in Taka
2013
Collection from customers and other income 10,636,606,875

Payment of VAT (1,277,054,798)
Payment to suppliers and employees (7,688,399,823)
Cash generated from operation 1,671,152,254
Financing cost (451,030,569)

Payment of tax (325,393,752)
Net cash from operating activities 894,727,933
Purchase of property, plant and equipment (2,588,066,531)

Investment in shares (38,000,542)
Sale proceeds of property, plant and equipment 1,551,705
Net cash used in investing activities (2,624,515,369)
Bank loan (repaid)/received (net) 1,812,120,291

Non convertible bond issue -
Dividend paid to shareholders (167,442,577)
Net cash generated from financing activities 1,644,677,714
D. Net cash inflows for the year (A+B+C) (85,109,721)
E. Opening cash and cash equivalents 338,591,526
F. Closing cash and cash equivalents (D+E) 253,481,805

ws
13
Amount in Taka
2012
9,102,101,506
(1,109,233,351)
(6,277,122,775)
1,715,745,380
(386,837,269)
(253,773,099)
1,075,135,012
(1,572,755,766)
2,970,739
200,000
(1,569,585,027)
(194,130,157)
1,000,000,000
(134,205,384)
671,664,459
177,214,444
161,377,082
338,591,526
5. Property, plant and equipment
Cost/Revaluation Depreciation
Disposal/ Disposal/
Particulars At Addition adjustment At Rate At Charged adjustment
1 January during during 31 December % 1 January during during
2013 the year the year 2013 2013 the year the year
Freehold land
At cost 903,810,870 123,782,458 - 1,027,593,328 - - -
On revaluation 179,132,078 - - 179,132,078 - - -
1,082,942,948 123,782,458 - 1,206,725,406 - - -
Buildings
At cost 1,568,438,631 666,183,967 - 2,234,622,598 1.54-12.5 160,840,776 68,299,142 -
On revaluation 41,291,251 - - 41,291,251 1.54-12.5 11,564,027 635,885 -
1,609,729,882 666,183,967 - 2,275,913,849 172,404,803 68,935,027 -
Plant and machinery 2,757,296,169 1,630,998,648 - 4,388,294,817 5-20 816,582,638 239,243,603 -

Automobiles 159,825,724 16,587,000 5,632,500 170,780,224 20-25 117,270,788 26,310,777 4,479,644
Office equipments 158,185,769 48,027,337 - 206,213,106 10-12.5 78,523,614 17,621,684 -
Furnitures and fixtures 51,413,443 18,563,009 - 69,976,452 5-10 16,554,337 6,098,147 -
Total '2013 5,819,393,935 2,504,142,419 5,632,500 8,317,903,854 1,201,336,180 358,209,238 4,479,644
Total '2012 5,081,181,785 851,031,880 112,819,730 5,819,393,935 945,489,565 309,632,583 53,785,968
Amount in Taka
Written
At Down Value at
31December 31 December
2013 2013
- 1,027,593,328
- 179,132,078
- 1,206,725,406
229,139,918 2,005,482,680
12,199,912 29,091,339
241,339,830 2,034,574,019
1,055,826,241 3,332,468,576
139,101,921 31,678,303
96,145,298 110,067,808
22,652,484 47,323,968
1,555,065,774 6,762,838,079
1,201,336,180 4,618,057,755
Amount in Taka
2013
6 Capital work in-progress
Renata Limited 2,026,083,847
Renata Agro Industries Limited 79,167,217
Renata Oncology Limited 73,719,168
2,178,970,232
7 Investment in shares and others

Amount in Taka
Market value Book Value
2013 2013
Detail of the above amount is given as under:
Central Depository Bangladesh Limited 1,569,450 1,569,450

BRAC Bank Limited 14,833 13,905
Social Islami Bank Limited 678 595
EXIM Bank Limited 1,883 1,494
International Leasing & Finance Services Ltd 13,272 39,497
United Commercial Bank Limited 326,829 2,603,640
Peoples Leasing Company Limited 23,664 117,132
Square Pharma Limited 46,698,368 28,116,719
BATBC 5,210,075 1,964,918
Islami Bank (BD) Limited 177,083 163,725
City General Insurance Limited 2,546,500 2,947,834
Meghna Insurance Limited 273,305 266,140
Titas Gas Transmission & Distribution Co. Ltd 7,380,000 7,979,039
Bangladesh General Insurance Co. Limited - -
Global Insurance Limited - -
Mercantile Bank Limited - -
S Alam CR steels Limited - -
Lafarge Surma Cement Limited 6,030,000 6,235,342
First BSRM Mutual Fund 813,000 988,940
Dhaka Electric Supply Co. Limited 584,000 598,384
Khulna Power Company Limited 7,409,190 8,051,177
Beacon Pharmaceuticals Limited 924,000 919,011
ICB Islamic Bank 2,440,000 2,720,137
Sonar Bangla Insurance Limited 988,000 1,023,449
United Airways Bangladesh Limited 1,230,000 1,249,980
Premier Leasing and Finance Limited 300,000 336,139
Jamuna Oil Company Limited 4,795,000 4,953,947
Investment Corporation of Bangladesh 590,242 1,066,263
Bata Shoe Ltd 1,391,000 264,501
Atlas Bangladesh Limited 453,224 396,530
United Leasing Company Limited 702,321 578,923
92,885,917 75,166,811
8 Other investment
Renata Limited -
18,881,156
Amount in Taka
2013
9 Inventories
Finished goods
Pharmaceutical 641,279,133
Premix 162,386,436
Contract manufacturing 15,615,418
Potent Product Facility 33,862,027
Cepha Facility 133,518,415
Penicillin Facility 34,445,377
1,021,106,806
Work-in-progress 282,351,925
Bulk materials 212,062,328
Raw and packaging materials-Premix 65,480,136
Raw and packaging materials-Contract manufacturing 23,650,209
Raw and packaging materials-Potent Product Facility 151,884,431
Raw and packaging materials-Cepha Facility 56,553,424
Raw and packaging materials-Penicillin Facility 13,393,510
Consumable stores and spares 29,539,887
Stock in transit 568,399,597
Stock-Renata Agro Industries Limited 55,721,516
Stock-Purnava Limited 49,954,630
2,763,455,400
*Inventories are kept as a security against short term bank loan.
10 Trade and other receivables
Renata Limited 832,288,936

Purnava Limited 30,114,847
Renata Oncology Limited 276,500
875,057,900
###
11 Advances, deposits and prepayments

Purnava Limited 804,815
174,165,543 #
Amount in Taka
12 Cash and cash equivalents 2013

Cash at bank:
Standard Chartered Bank Limited 66,420,263
The Hongkong Shanghai Banking Corporation Limited 84,220,707
Agrani Bank Limited 42,138,352
Sonali Bank Limited 17,446,114
One Bank Limited 6,877,611
Bank Asia Limited 8,864,019
Islami Bank Bangladesh Limited 3,488,363
Eastern Bank Limited 18,572,561
United Commercial Bank Limited. 337,305
Southeast Bank Limited 6,502
The City Bank Limited 722
Prime Bank Limited 803,712
Pubali Bank Limited 853,583
Janata Bank Limited 270,272
Dutch Bangla Bank Limited 173,169
250,473,255
253,481,805
13 Long term loan - net of current portion

Renata Agro Industries Limited -
707,050,000
Less: Current portion

229,743,333
Balance:
14 Non-convertible bond - net of current portion
At 31 December 2013 the institutional investors list are given below:
Trust Bank First Mutual Fund -

Popular Life First Mutual Fund 70,000,000
The Premier Bank Limited 250,000,000
1,000,000,000
Amount in Taka
Less: Current portion 2013

Popular Life First Mutual Fund 70,000,000
The Premier Bank Limited 250,000,000
1,000,000,000
Balance:

Popular Life First Mutual Fund -
PHP First Mutual Fund -
AB Bank First Mutual Fund -
First Bangladesh Fixed Income Fund -
The Premier Bank Limited -
Central Depository Bangladesh Limited -
-
15 Deferred tax liability

473,840,609
Renata Agro Industries Limited, a subsidiary of Renata limited is enjoying tax exemption as such no
deferred tax adjustment have been considered. Purnava Limited has no temporary difference as such, no
deferred tax adjustment has been considered. Oncology Limited not yet started its operation as such the
matter of deferred tax calculation does not arise.
16 Short term loan and overdraft

Purnava Limited -
# 3,057,538,347
17 Trade & other payables

Purnava Limited -
452,003,962 #
Amount in Taka
2013
18 Provision & other liabilities

Renata Oncology Limited 11,500
278,214,611 #
19 Provision for taxation

371,235,887 #
Renata Agro Industries Limited, a subsidiary of Renata Limited, is enjoying tax exemption, hence no tax
provision has been made on its profit.
20 Turnover
9,130,607,862
###
21 Cost of sales
4,649,847,166 #
22 Administrative, selling and distribution expenses
Salaries, wages and allowances 745,538,570
Contribution to Provident Fund 16,711,519
Gratuity 20,043,807
Fuel and power 28,552,372
Rent, rates and taxes 34,369,082
Insurance 6,058,645
Travelling, moving and entertainment exp. 178,192,053
Repairs and maintenance 24,892,219
Legal and professional expense 5,183,975
Provision for bad and doubtful debts 15,054,602
Audit fee 601,250
Directors' fee 360,000
Membership fees and subscription 3,786,752
Meeting and corporate expense 25,997,504
Advertising and sales promotion 72,592,479
Field expenses 410,800,858
Depreciation 42,335,999
Printing and stationery 32,479,096
Postage, telex, fax and telephone 20,603,499
Distribution freight 209,099,538
Lunch, snacks, tea and welfare exp. 86,665,804
Other overhead expense 95,367,063
2,075,286,686
23 Share holding position
2013 2012
Number of % of total Number of
shares holding shares
Renata Agro Industries Limited
Renata Limited 419,949 99.988% 419,949
Non controlling interest 51 0.012% 51
420,000 100% 420,000
Purnava Limited
Renata Limited 24,999 99.996% 24,999
Non controlling interest 1 0.004% 1
25,000 100% 25,000
Renata Oncology Limited
Renata Limited 7,999,900 99.999% -
Non controlling interest 100 0.001% -
8,000,000 100% -
24 Basic earnings per share (EPS)
The computation of EPS is given below:

Earnings attributable to the ordinary shareholders (group profit
for the year) 1,397,015,677
Weighted average number of ordinary shares outstanding during
the year 35,302,343
Basic earning per share (EPS) 39.57
Amount in Taka
2012
2,061,905,242
33,140,881
-
2,095,046,123
nt in Taka
Book Value
2012
1,569,450
15,288
595
1,376
33,844
2,603,640
117,135
21,360,743
1,964,919
163,727
1,246,968
1,102,492
1,534,112
1,174,608
951,642
517,512
502,000
-
###
-
###
-
###
-
###
-
###
1,066,263
264,501
396,530
578,923
37,166,268
30,592,153
18,881,156
49,473,309
Amount in Taka
2012
513,601,968
107,763,074
3,425,376
28,339,959
104,750,769
23,498,110
781,379,256
135,125,733
141,130,787
199,682,148
111,466,981
98,763,736
20,520,870
84,906,386
38,276,686
11,035,888
3,781,736
360,674,676
124,418,045
8,617,698
2,119,780,626
728,215,599
17,561,193
15,292,007
-
761,068,799
###
148,951,592
4,227,687
659,852
153,839,131
Amount in Taka
2012
3,556,537
97,898,946
83,330,398
71,875,746
4,835,589
-
72,450,684
2,695,613
-
1,137,130
-
180,813
-
###
484,428
145,642
335,034,989
338,591,526
358,333,333
56,670,201
415,003,534
133,333,333
133,333,333
281,670,201
100,000,000
70,000,000
30,000,000
150,000,000
370,000,000
250,000,000
30,000,000
1,000,000,000
Amount in Taka
2012
-
###
-
###
-
###
-
-
100,000,000
70,000,000
30,000,000
150,000,000
370,000,000
250,000,000
30,000,000
1,000,000,000
272,041,423
272,041,423
ng tax exemption as such no

mporary difference as such, no
arted its operation as such the
1,812,605,178
59,189,205
24,287,935
1,896,082,318
338,495,218
3,760,524
571,312
342,827,054
Amount in Taka
2012
340,461,110
14,304,147
-
354,765,257
402,110,091
505,902
402,615,993
g tax exemption, hence no tax
7,453,669,495
179,689,675
225,156,039
7,858,515,209
3,401,710,836
205,295,768
202,090,375
3,809,096,979
738,633,980
15,291,344
28,477,989
26,597,870
22,802,711
6,977,372
182,794,336
19,988,329
4,652,258
283,883
690,000
300,000
2,563,495
46,651,431
102,932,663
344,494,711
40,087,818
23,864,993
21,708,258
174,745,586
54,481,140
75,207,885
1,934,228,052
2012
% of total
holding
99.99%
0.012%
100%
99.996%
0.004%
100%
-
###
-
1,194,698,822
35,302,343
33.84
25 Payments to directors and officers
The aggregate amount paid (except directors' fees for attending board meetings in note 30) during the year to direc
and officers of the Company are disclosed below as required by the Securities and Exchange Rules-1987.
Amount in Taka
Directors
Remuneration 5,964,750
House rent 3,795,000
Bonus 2,475,000
Contribution to provident fund 596,470
Gratuity 662,750
Medical expenses 174,271
Conveyance allowance and transport 1,113,200
Other welfare expenses 3,465,000
18,246,441
25.1 During the year no payment has been made to any non-executive Directors for any special services rendered.
26 Contingent liabilities and assets
26.1 There are contingent liabilities on account of unresolved disputed corporate income tax assessments involving
claims by the tax authority amounting to Tk 57,868,443 for which appeals are pending with the Commissioner of t
(Appeal) and High Court division of the Supreme Court. However, tax paid and provided for the relevant years
adequate to meet the demanded tax.
26.2 There are contingent liabilities on account of unresolved VAT cases claimed by the authority amounting to B
28,825,822 for which appeals are pending with the High Court division of the Supreme Court and VAT appe
tribunal.
26.3 Renata Limited purchased 16.93 land at Mouza Dhamsur, Union: Mollick Bari, Thana: Bhaluka, Dist.: Mymensin
2011 by BDT 200,163,438. After acquisition, local people lodged a complain to Mymensing judge court regarding
land which was resolved in favor of Renta Limited. However, there are some other pending issues which is yet t
resolved.
27 Commitments
On the statement of financial position date, the Company is enjoying unfunded credit facilities from the following
banks:
Amount in Taka
2013
Letters of credit (Note 27.1) 549,801,999
Outstanding guarantees issued by the banks 53,564,285
603,366,284
27.1 Letters of credit Limit

The Hong Kong Shanghai Banking Corporation Limited 1,350,000,000 278,296,845
Standard Chartered Bank Limited 1,200,000,000 22,298,096
Eastern Bank Limited 550,000,000 26,944,983
The City Bank Limited 320,000,000 2,141,622
City Bank N.A 799,200,000 21,080,877
Commercial Bank of Ceylon 400,000,000 157,964,911
Bank Asia Limited 250,000,000 41,074,665
4,869,200,000 549,801,999
28 Dividend paid to non-resident shareholders
Dividend paid to non-resident shareholder, Business Research International Corp. Inc. during the year 2013 was
29,476,320 equivalent to US$ 377,949.99 for their 6,140,900 shares.
29 Claims against the company not acknowledged as debt
None as at 31 December 2013.
30 Disclosure as per requirement of Schedule XI, Part II of The Company Act 1994
30.1 Employee Position of the Renata Limited as per requirement of schedule XI, part II, Para 3
The company engaged 4,334 employees of which 3,113 are permanent employees and 1221 are casual and tempo
workers as required. All employees received total remuneration of above Tk. 36,000 per annum.
30.2 Capacity utilization - single shift basis
Production capacity and current utilization as required by the Companies Act 1994, Schedule-XI para-7. The comp
operates multi-products plants. As a result plant utilization is not comparable with capacity due to variation of pro
mix. However, actual production and utilization for major products groups are as follows:
Capacity 2013 2012
Utilization
Major product group/ Unit
Actual Actual
production production
(In "000") (In "000") % (In "000")
Sterile dry fill (injectable)/ Vials 6,500 4,140 63.69% 3,999
Sterile liquid (inj)/ 10,500 9,800 93.33% 9,146
Vials/ampoule
Ointments/ Tubes 1,500 424 28.27% 838
Capsules and tablets/ Cap/Tab 900,000 1,147,147 127.46% 1,038,143
Oral liquid & dry syrup/ Bottles 14,400 15,641 108.62% 15,635
Water for injection/ Ampoules 2,875 4,246 147.69% 2,797
Premix feed supplement/ Kg 4,500 5,028 111.73% 4,571
Premix feed suppl./ Sachets 3,000 3,367 112.23% 2,928
ORAL saline/ Sachets 720,000 828,000 115.00% 72,560
Potent Products/ Tablets 2,000,000 2,137,646 106.88% 1,979,302
31 Payments/ receipts in foreign currency
31.1 During the year the following payments were made in foreign currency for imports calculated on CIF basis of:
Foreign
currency
US$
Active, raw and packaging materials 36,165,143
Machinery and spares 18,494,205
54,659,348
31.2 The following expenses were incurred during the year in foreign exchange on account of:
Professional consultation fee US$

Export promotional expenses US$
Product registration US$
31.3 Foreign exchange was earned in respect of the following:
Export of goods on FOB US$
32 General
1) All the figures in the financial statements represent Bangladesh Taka currency (BDT) rounded off to the nea
integer.
2) The comparative information has been disclosed in respect of 2013 for all numerical information in the finan
statements and also the narrative and descriptive information as found relevant for understanding of the current y
financial statements.
3) To facilitate comparison, certain relevant balances pertaining to the previous year have been rearranged
reclassified whenever considered necessary to conform to current year presentation.
_____________________ ______________
CEO & Managing Director Director Chief Financial Off
0) during the year to directors
ge Rules-1987.
Amount in Taka
Officers
234,550,830
143,810,451
66,803,053
16,115,044
31,412,638
2,488,974
129,678,229
39,448,714
664,307,933
services rendered.
x assessments involving tax

th the Commissioner of taxes
ed for the relevant years are
authority amounting to BDT

me Court and VAT appellate
Bhaluka, Dist.: Mymensing in

ng judge court regarding the
ing issues which is yet to be
ties from the following
Amount in Taka
2012
945,547,602
53,564,285
999,111,887
368,361,032
269,603,566
34,723,058
19,573,214
245,922,378
-
7,364,354
945,547,602
uring the year 2013 was Tk.
221 are casual and temporary

num.
ule-XI para-7. The company

ty due to variation of product
2012
Utilization
%
61.52%
87.10%
55.87%
138.42%
130.29%
111.88%
114.28%
117.12%
207.31%
197.93%
ated on CIF basis of:
Local
currency
Taka
2,811,894,294
1,437,924,467
4,249,818,761
244,416
382,033
42,073
2,660,026
T) rounded off to the nearest

l information in the financial
standing of the current year's
ar have been rearranged or
_________________
6
Renata Limited
Balance of P & L Account
January-December 2013
Total Taka Accounts Head Taka
Dr Cr
Market Sales 10,152,179,881 Turnover 8,757,405,748
Export Sales 207,360,275
VAT on Sales 1,277,044,728
Export-VAT free goods 2,914,115
Trade Discount 287,916,460
Export-Other deduction 17,204,895
C/Notes Nonsaleable 14,226,003
C/Notes saleable 1,043,301
Goods returned 1,784,906
Product Cost Standard 4,438,846,733 Cost of Goods sold 4,316,775,030
Product Cost-Export 116,184,580
Manufacturing Variance 180,515,205
Spending Variance 140,793,256
Material Usages-Variance 16,278,597
Purchase Price Variance-local 7,697,637
Purchase Price Variance-Third party 300,794,619
Standard Cost revision-General 66,929,336
Standard Cost revision-Unar
Variance deffered 212,364,470
Variance-Generated 331,947,108
Obsolete, Slow moving items 39,645,624
Physical inventory adjustment 1,380,399
Journal Advertising 224,000 Selling & Distribution Exp. 1,880,851,952
Journal Advertising 1,700,025
Journal Advertising 1,840,302
RMDP Expenses 1,635,176
Conference and Seminar 10,497,552
Expenses-Medical affairs deptt. 6,676,273
Trade gifts 97,716,093
Trade gifts-kind 183,971,450
I.B.Expense 47,724,475
Pustikona-Gains
Conference and Seminar (Marketing) 5,439,030
Field Force 767,428,867
Detail Samples 44,572,013
Detail aid-Export 5,665,657
Detail aid 84,592,469
Marketing Administration 92,322,175
Plant Expense
TBL Expense
Hormone Expense
JISCA Expense
Public Relations Expenses 37,691,262
Corporate Social responsibility 11,810,747
Market Research 2,042,917,676
Distribution Centrew/Depot Expenses 271,415,810
Distribution-Freight 194,301,713
ORS Expense 883,704
Distribution freight-Export 13,626,863
General Administration 160,287,507 Administrative Expenses 160,287,507
Miscellaneous Income 11,151,995
Exchange Loss/Gain 20,323,540
Miscellaneous Income-Dividend 3,916,173 Exchange Loss/Gain 20,323,540
Interest income 4,371,668 Other income 19,439,836
Interest Expenses 410,236,825 Finance cost 421,631,006
Bank Charges 11,394,181 Other Expenses 1,778,217
WPPF 93,895,387 Allocation WPPF 93,895,387
Share dimunition-Gain/(Loss) 3,794,026 Share dimunition-Gain/(Lo 3,794,026
Profit and loss on disposal 398,849
Miscellaneous deductions 1,778,217 Profit and loss on dispo 398,849
Income before tax
Income tax 293,237,957 Income Tax 293,237,957
Deferred income taxes 197,380,264 Deferred income taxes 197,380,264
Net Income 1,394,877,599
Total 11,151,474,134 11,151,474,134 1,394,877,599
Renata Limited
Trial Balance-2013.
Heads of Accounts Debit(Taka) Credit (Taka)
Cash in hand and at Bank

Cash at bank 238,977,925
Customers Account & Notes receivable
Customer receivable 420,526,500
Customer receivable-Cash 14,586,846
Adjustment of Credit Note - 4,227,227
Reserve for bad debts
Reserve for bad debts 38,628,723
Accounts receivable-Others
Insurance claim 6,587,925
Receivable from export 70,958,516
GAINS A/c
Miscellaneous receivable 16,073,983
VAT recovery 226,150,691
VAT deposit 50,890,925

VAT deposit-Cepha 18,764,608
VAT deposit-Penicillin 12,936,396
VAT deposit-PPF2 516,485
Fair price shop 106,667
Ranata -Agro A/c 140,000,000
Ranata -Oncology A/c 73,984,168
Unrealized Exchange Loss/Gain UPAS Loan -
-
Renata Agro A/C 2,996,871 -
Purnova-A/c 85,337,096 -
Raw, Packaging & Supplies
Supplies-Mfg 3,335,832
Supplies-Major 26,204,055
Bulk WIP & Finished goods
Bulk material 163,707,197
Bulk materials-JISCA 44,207,519
Hormone-Raw & Packing materials 151,884,431
Cepha Bulk, Raw and Packaging 56,553,424
Bulk, Raw and Packaging-Becon 4,147,612
Bulk, Raw and Packaging-Penicillin 13,393,510
Working process 228,084,601
WIP-Expenses 54,267,324
Finished goods (PH+AH) 638,210,602
Premix -Raw & pkg. 65,480,136
Premix-Finished goods 162,386,436
ORS-materials 23,650,209
ORS-Finished goods 15,615,418
Hormone-Finished goods 33,862,027
Finished goods-Cepha 133,518,415
Finished goods-Penicillin 34,445,377 -
Finished goods-Softgel 3,068,531
Reserve-Obs/Exe & SM 28,940,871
Inventory-in-transit
Inventory-in-transit 568,399,597
Due from employees

Salary advance-HO. 208,958
Salary advance-Plant 173,255
Scooter Loan 6,560,485

Loan to employee-HO 4,670,687
Renata agro-investment 60,570,476

Renata Oncology Limited 79,999,000
Investment in PUNARVA 2,499,900
Investment in -CDBL 1,569,450
Investment in Portfolio Share 54,794,216
Share disposal-Clearing A/c 1,975,530
Misc. investments & Other Assets
Misc. deposit 6,803,389
Miscellaneous Deposit-FDR 260,500
Advance Inventory 1,229,125
Tender deposit 6,392,621
Prepaid Expenses
-
Field force-Imprest 11,105,000
Travel advance 4,503,567
Prepaid insurance 9,482,021
Prepaid rent 13,609,455
Prepaid misc. 26,147,580
Fixed Assets-Gross
Land 1,099,696,275
Building/Land improvement 1,985,124,920
Building-H.O. 108,192,367
A
Office Equipment 87,890,546
Furniture & Fixture 69,776,091
Computer Equipment 102,439,117
A -
Machinery & Equipment 666,431,351
Machinery & Equipment 1,439,304,599
Machinery & Equipment 2,029,606,154
Automobiles 153,502,555
CIP-Bogra Depot 138,000
CIP-Imported Capital Machinary 1,225,365,304
CIP-Faridpur Depot 6,231,968
CIP-GMF Rajendrapur 257,310,515
CIP-General Plant Mirpur 174,094,559
CIP-New project-Land 4,917,350
CIP-Sylhet Depot 760,325

CIP-33KVASubstation , Rajendrapur 2,500,000
CIP-Warehouse & Packing-Rajendrapur 28,901,226
CIP-Valuka Project 199,117,775
CIP-API 10,255,116
CIP-Mymensingh Depot 954,507
CIP-ERP 115,537,203
Motorcycle Advance 83,753,297
Reserve for depreciation of fixed assets
Building/Land improvement-3% 169,451,513
A
Building/Land improvement-5% 11,549,978
Office Equipment- 10% 42,468,689
Furniture & Fixture-5% 23,047,262
Computer Equipment-12.5% 43,738,125
-
Machinery & Equipment-10% 225,027,374
Machinery & Equipment-5% 318,920,035
Machinery & Equipment-6.7% 443,827,307
Automobiles-25% 123,830,451
Long term loans, Bonds etc.
Renata Bond 1,000,000,000
HSBC-Long Term Loan 482,050,000
SCB- term loan 225,000,000
Short term loans & Overdrafts
City Bank-Short Term
City Bank-OD 224,370,013
City Bank-Trust 558,053
Bank Asia-Overdraft 204,386,920
Bank Asia-Revolving 145,284,049
Bank Asia-LATR 129,385,966
Bank Asia 27,441,243
Overdraft-Citi Bank 12,694,154
CBCL-Overdraft 75,074,927
CBCL-Trust 177,381,039
CBCL-Short Term 50,000,000
Citi Bank-Revolving 35,000,000

Citi Bank-Trust
SCB-Trust 25,688,339
SCB-UPAS 563,477,466
SCB-Mother A/c 67,427,120
SCB-Revolving loan 20,000,000

HSBC-Import Loan 3,694,346
HSBC-UPAS 613,346,091
HSBC-Short Term Loan 120,000,000
HSBC-Revolving 63,698,157
HSBC-Mother A/c 137,310,982
HSBC-Trust 137,814,188
EBL-Short term loan
Eastern Bank-Trust 120,674,819
Eastern Bank-OD 77,694,003
Agrani Bank & Others (Credit balance) 8,922,375
Accounts payable
PF Trustee 693,373
V/P Journalised-HO 4,381,706
V/P Journalised-Depot 669,793
A/P-Journalized 27,736,998
V/P Journalised-Plant 28,071,914
W/H-VAT Parties 78,303
Provision for dimunition of share value 3,534,723 -
Account Export commission payable 13,562,446
Account payable meeting 23,645,788
Account Royalty payable 6,178,321
Accounts Current-GAINS 1,919,643
V/P Toll Account-Ziska 9,177,151
HLL Lifecare Limited 45,104
With holdings Employees
W/H-Income Tax 200,280 -
Accrued income tax
Accrued income tax 77,357,134
Accrued tax-Current year provision 293,237,957
Other accrued taxes
W/H Tax-Dividend
Accrued pay roll
Account leave incentive 952,997
Account leave encashement 95,100,484
Account leave fare assistance 562,018
Recreation allowance 1,124,445
Acc. Annual bonus 5,436,420
Acc. Sales incentive 87,269,912
Accrued Prescription Bonus 9,203,144
Accrued Perfrormance Bonus 27,008,356
Acc. WPPF 182,822,825
Acc. WWF 23,107,713
Other accrued expenses
L
L
Acc. Bank Interest 26,955,822
Acc. Legal expenses 2,056,929
Acc. Professional expenses 540,000
VAT Payable 28,825,822
Dividend Payable
Dividend-Payable 9,915,748
Reserve-Others
Deferred Tax 469,264,305
Gratuity
Gratuity 212,940,085
Revaluation reserve-Assets
Capital Stock
Capital Stock 353,023,430
Tax holiday reserve
Earned Surplus (Cumulative)
Earned +Surplus (Cumulative) 4,141,188,412
Earned +year to date 1,394,877,599
Dividend declared
Dividend declared
Revaluation reserve
Revaluation reserve 157,477,414
14,187,244,567 14,187,244,567
Renata Limited Renata Agro Limited Purnava Limited Oncology Limited Consolidation Adjustment (R
2013 2012 2013 2012 2013 2012 2013 2012 2013
ASSETS Taka Taka Taka Taka Taka Taka Taka Taka Taka
Non-current assets
Property, plant and equipment 7,741,963,976 5,330,604,421 490,912,148 483,674,184 5,115,329 5,115,329 79,912,400
Less: Accumulated Depreciat 1,401,860,735 1,061,678,060 157,297,136 136,689,455 3,988,178 2,968,665
6,340,103,241 4,268,926,361 333,615,012 346,984,729 1,127,151 2,146,664 79,912,400 - -
Capital work-in-progress 2,026,083,847 2,061,905,242 79,167,217 33,140,881 - - 73,719,168
Investment in subsidiaries at 143,069,376 63,070,376 - ### - - (143,069,376)
Investment others at cost 56,363,666 48,955,276 37,684,301 ### - - -
Total non-current assets 8,565,620,130 6,442,857,255 450,466,530 417,809,911 1,127,151 2,146,664 153,631,568 - (143,069,376)
Current assets
Inventories 2,657,779,254 1,986,744,883 55,721,516 124,418,045 49,954,630 8,617,698
Trade and other receivables 832,197,871 843,231,267 12,377,617 17,561,193 30,114,847 15,292,007 276,500
Advance, deposits and prepa 174,899,940 148,951,592 5,375,492 4,227,687 804,815 659,852 -
Trade Receivable (Inter comp 310,396,485 - ### (310,396,485)
Cash and bank balance 240,262,925 331,292,974 4,138,273 4,437,068 8,993,045 2,861,484 87,600
Total current assets 4,215,536,475 3,310,220,716 77,612,898 150,643,993 89,867,337 27,431,041 364,100 - (310,396,485)
Total assets 12,781,156,605 9,753,077,971 528,079,428 568,453,904 90,994,488 29,577,705 153,995,668 - (453,465,861)

Equity attributable to equity holders of the group company
Share capital 353,023,430 282,418,750 42,000,000 ### 2,500,000 2,500,000 80,000,000 (124,500,000)
Revaluation surplus 157,477,414 157,955,917 - ### - -
Tax holiday reserve 249,496,624 206,609,359 36,588,358 35,982,922 -
Unappropriated profit 5,536,066,012 4,423,495,722 222,268,675 216,819,752 2,499,347 1,702,556 (18,607,109)
Total equity attributable to e 6,296,063,480 5,070,479,748 300,857,033 294,802,674 4,999,347 4,202,556 80,000,000 - (143,107,109)
Minority interest - ### 37,733
Total equity 6,296,063,480 5,070,479,748 300,857,033 294,802,674 4,999,347 4,202,556 80,000,000 - (143,069,376)
Long Term Loans and borrow 707,050,000 358,333,333 - 56,670,201
Non convertble bond 1,000,000,000 1,000,000,000
Deferred liability-staff gratuit 212,940,085 175,366,283 11,785,906 10,355,646 - -
Deferred tax liability 469,264,305 272,041,423 - ###
2013 2012 2013 2012 2013 2012 2013 2012 2013
Non-current assets
Total non-current liabilities 2,389,254,390 1,805,741,039 11,785,906 67,025,847 - - - - -
2013 2012 2013 2012 2013 2012 2013 2012 2013
Non-current assets
Current liabilities
Bank overdraft 3,041,324,251 1,812,605,178 16,214,096 59,189,205 - 24,287,935
Creditors for goods 56,478,705 41,207,200 12,207,152 78,919,848
Accrued expenses 256,210,520 272,566,530 14,308,899 14,355,839 17,250 10,000 11,500
Other payables 361,314,418 340,461,110 21,631,121 54,160,491 -
Trade & Other Payable (Inter Company) 151,075,221 85,337,096 571,312 73,984,168 (310,396,485)
Unclaimed dividend 9,915,748 7,907,075 - ###
Provision for taxation 370,595,092 402,110,091 - ### 640,795 505,902 -
Total current liabilities 4,095,838,734 2,876,857,184 215,436,489 206,625,383 85,995,141 25,375,149 73,995,668 - (310,396,485)
Total liabilities 6,485,093,124 4,682,598,223 227,222,395 273,651,230 85,995,141 25,375,149 73,995,668 - (310,396,485)
Total equity and liabilities 12,781,156,605 9,753,077,971 528,079,428 568,453,904 90,994,488 29,577,705 153,995,668 - (453,465,861)
(0) 0 - - - 0 - - (0)
n Adjustment (Renata & Purnava) Consolidated Balance Sheet
2012 2013 2012
Taka Taka Taka
8,317,903,853
1,563,146,049
6,754,757,804
2,178,970,232
-
94,047,967
9,027,776,003
-
2,763,455,400
874,966,835
181,080,247
-
253,481,843
4,072,984,325
13,100,760,326
-
353,023,430
157,477,414
286,084,982
5,742,226,925
6,538,812,751
37,733
6,538,850,484
707,050,000
1,000,000,000
224,725,991
469,264,305
2012 2013 2012
Taka Taka Taka
2,401,040,296
2012 2013 2012
Taka Taka Taka
3,057,538,347
68,685,857
270,548,169
382,945,539
-
9,915,748
371,235,887
4,160,869,547
6,561,909,843
13,100,760,326
- 0
Renata Limited Renata Agro Limited Purnava Limited Consolidation Adjustment (Agro & Purnav
2013 2012 2013 2012 2013 2012 2013
Taka Taka Taka Taka Taka Taka Taka
Turnover 8,757,405,748 7,671,572,303 312,118,283 179,689,675 316,977,766 225,156,039 (255,893,935)

Cost of goods sold (4,316,775,028) (3,619,613,644) (288,202,141) (205,295,768) (300,763,932) (202,090,375) 255,893,935
Gross profit 4,440,630,720 4,051,958,659 23,916,142 (25,606,093) 16,213,834 23,065,664 -
Operating expenses:
Administrative, selling and distribution expenses (2,042,917,676) (1,890,859,261) (29,168,171) (20,791,550) (14,776,248) (22,577,241)
Operating profit 2,397,713,044 2,161,099,398 (5,252,029) (46,397,643) 1,437,586 488,423 -
Other income (883,705) 7,995,455 33,342,195 9,387,021 -
Gain on disposal of property, plant and equipment 398,849 (218,312)
Financial Expenses (Interest) (421,631,006) (370,881,897) (21,733,089) (15,955,372)
Contribution to WPPF (93,895,388) (85,618,793) (302,718)
Profit before tax 1,881,701,794 1,712,375,851 6,054,359 (52,965,994) 1,437,586 488,423 -
Tax expenses
Current tax (293,237,957) (400,255,434) (640,795) (351,767)
Deferred tax (197,380,264) (74,194,051)
(490,618,221) (474,449,485) - - (640,795) (351,767) -
Net profit after tax for the year 1,391,083,573 1,237,926,366 6,054,359 (52,965,994) 796,791 136,656 -
Other comprehensive Income:
Gain/(Loss) on Marketable Securities (unrealized 3,794,026 (252,830)
Exchange difference arising out of translation - 9,601,794
Total comprehensive Income 1,394,877,599 1,247,275,330 6,054,359 (52,965,994) 796,791 136,656 -
djustment (Agro & Purnava) Consolidated Profit & Loss
2012 2013 2012
Taka Taka Taka
(217,902,808) 9,130,607,862 7,858,515,209

217,902,808 (4,649,847,166) (3,809,096,979)
- 4,480,760,696 4,049,418,230
(2,086,862,095) (1,934,228,052)
- 2,393,898,601 2,115,190,178
32,458,490 17,382,476
398,849 (218,312)
(443,364,095) (386,837,269)
(94,198,106) (85,618,793)
- 1,889,193,739 1,659,898,280
(293,878,752) (400,607,201)
(197,380,264) (74,194,051)
- (491,259,016) (474,801,252)
- 1,397,934,723 1,185,097,028
3,794,026 (252,830)
- 9,601,794
- 1,401,728,749 1,194,445,992
Renata Limited Renata Agro Limited Purnava Limited Renata Oncology Limited
2013 2012 2013 2012 2013 2012 2013
Taka Taka Taka Taka Taka Taka Taka
Collection from customers and other income 9,993,664,238 8,696,834,669 350,644,054 182,159,712 292,298,582 223,107,125
Payment of VAT (1,277,044,728) (1,109,202,451) - - (10,070) (30,900)
Payment to suppliers and employees (7,053,643,171) (5,876,069,492) (286,300,150) (186,861,969) (355,850,349) (214,191,313) (276,500)
Cash generated from operation 1,662,976,339 1,711,562,726 64,343,904 (4,702,257) (63,561,837) 8,884,912 (276,500)
Financing cost (421,631,006) (370,881,897) (21,733,089) (15,955,372) - - -

Payment of tax (324,752,957) (253,421,332) - - (640,795) (351,767)
Net cash from operating activities 916,592,376 1,087,259,497 42,610,815 (20,657,629) (64,202,632) 8,533,145 (276,500)
Purchase of property, plant and equipment (2,381,170,663) (1,524,143,603) (53,264,300) (48,498,264) - (113,900) (153,631,568)
Investment in shares (38,000,542) (7,029,261) - 10,000,000
Sale proceeds of property, plant and equipment 200,000 200,000 - -
Net cash used in investing activities (2,418,971,205) (1,530,972,864) (53,264,300) (38,498,264) - (113,900) (153,631,568)
Bank loan (repaid)/received (net) 577,435,740 (232,054,247) 10,354,690 56,277,481 70,334,193 (18,353,391) 153,995,668
Non convertible bond issue 1,000,000,000 1,000,000,000 - -
Dividend paid (166,086,960) (134,205,384)
Net cash used in financing activities 1,411,348,780 633,740,369 10,354,690 56,277,481 70,334,193 (18,353,391) 153,995,668
D. Net cash outflows for the year (A+B+C) (91,030,049) 190,027,002 (298,795) (2,878,412) 6,131,561 (9,934,146) 87,600
E. Opening cash and cash equivalents 331,292,974 141,265,972 4,437,068 7,315,480 2,861,484 12,795,630 -
F. Closing cash and cash equivalents (D+E) 240,262,925 331,292,974 4,138,273 4,437,068 8,993,045 2,861,484 87,600
nata Oncology Limited Consolidated Cash Flow Statement
2012 2013 2012
Taka Taka Taka
10,636,606,874 9,102,101,506
(1,277,054,798) (1,109,233,351)
(7,696,070,170) (6,277,122,774)
1,663,481,906 1,715,745,381
(443,364,095) (386,837,269)
(325,393,752) (253,773,099)
894,724,059 1,075,135,013
(2,588,066,531) (1,572,755,767)
(38,000,542) 2,970,739
200,000 200,000
(2,625,867,073) (1,569,585,028)
812,120,291 (194,130,157)
1,000,000,000 1,000,000,000
(166,086,960) (134,205,384)
1,646,033,331 671,664,459
(85,109,683) 177,214,444
338,591,527 161,377,082
- 253,481,844 338,591,527
Deferred Tax
2012 Deff. Tax
Total Property, Plant & Equipment WDV 6,340,103,241
Less: Land + Revaluation of Freehold Land WDV (1,099,696,275)
Less: Plant & Equipment (Cepha Plant) WDV (624,734,008)
Less: Plant & Equipment (Penicillin Plant) WDV (220,019,070)
Less: Revaluation of Buildings WDV (30,140,233)
Net of Revaluation cost WDV 4,365,513,655
Net Carrying amount-Book base "A" WDV 4,365,513,655
Tax Base "B" WDV 2,398,258,895
Temporary Difference
Tax Deductible Temporary Difference (A-B) 1,967,254,760 486,895,553
Revaluation Reserve 209,272,311 51,794,897
Provision for Staff Gratuity (212,940,085) (52,702,671)
Provision for Obsolete and slowmoving goods (28,940,871) (7,162,866)
Provision for Bad debts (38,628,723) (9,560,609)
Total Temporary Difference 1,896,017,392 469,264,305
Tax rate for the year (27.5%-10% of 27.5%) 24.75%

Deferred Tax Liability (Assets) 469,264,305
Renata Limited
and its subsidiary, BRAC Renata Agro Industries Ltd.
Consiolidated cash flow statement for the year ended 31 December 2003
2003 2002
Taka Taka
Collection from customers and other income 1,386,295,441 1,174,264,124

Payment of VAT (173,766,757) (143,552,667)
Payment to suppliers and employees (1,093,585,317) (901,311,935)
Cash generated from operation 118,943,367 129,399,522
Financing cost (32,193,415) (29,728,792)
Payment of tax (17,503,493) (26,068,192)
Net cash from operating activities 69,246,459 73,602,538
Purchase of property, plant and equipment (54,972,349) (33,822,609)

Invest in shares (41,690,476) (2,447,000)
Sale proceeds of property, plant and equipment 649,000 800,000
Net cash used in investing activities (96,013,825) (35,469,609)
Medium Term Loan received / (repaid) 6,594,661 11,415,930

Dividend paid (23,056,154) (18,455,986)
Net cash from financing activities (16,461,493) (7,040,056)
D. Net cash inflows/(outflows) for the year (A+B+C) (43,228,859) 31,092,873
Add: Opening cash and cash equivalents (102,495,600) (133,588,473)
Closing cash and cash equivalents (Note 25) (145,724,459) (102,495,600)

BRAC-Renata Agro Industries Limited
Profit and Loss Account for the year ended on 31 December 2003
Total Total
for the Year for the Year
2003 2002
Notes Taka Taka
Turnover 19 120,568,126 120,979,280

Cost of goods sold 20 (102,614,249) (87,841,630)
Gross profit 17,953,877 33,137,650
Other Income 21 414,120 235,969
18,367,997 33,373,619
Operating Expenses :
Administrative expenses (1,985,348) (1,957,488)
Marketing expenses (1,167,642) (480,343)
Distribution expenses (4,337,012) (2,333,850)
22 (7,490,002) (4,771,681)
Operating profit 10,877,995 28,601,938

Non-operating expenses ( net ) 23 (11,660,337) (11,025,284)
Profit / (Loss ) before WPPF (782,342) 17,576,654
Contribution to WPPF - (836,984)
Unappropriated profit brought forward 19,504,628 4,464,958
Profit available for appropriation 18,722,286 21,204,628
Appropriation :
Tax holiday reserve 0 (1,700,000)
Unappropriated Profit carried forward 18,722,286 19,504,628
Basic earnings per share ( par value Tk. 100) -Note (1.86) 39.86
Signed in ters of our repot of even date annexed
Managing Director Director Company Secretary
As per our annexed report of even date
K.. M. Hasan & Co.

Dhaka, 15 April, 2003 Chartered Accountants
BRAC-Renata Agro. Industries Ltd.
Balance Sheet as at 31 December 2003
2003 2002
SOURCE OF FUND Notes Taka Taka
Shareholders' equity :
Share capital 05 42,000,000 42,000,000
Tax Holiday reserve 4,147,000 4,147,000
Unappropriated profit 18,722,286 19,504,628
64,869,286 65,651,628
Loan Funds :
Loan from BRAC - 17,000,000
Loan from Renata Limited 06 17,000,000 -
Medium term loan 07 21,958,242 35,676,958
38,958,242 52,676,958
Total 103,827,528 118,328,586
APPLICATION OF FUND
Property, plant and equipmen 08
At cost 137,446,644 135,346,759
Less: Accumulated depreciation 24,117,740 18,087,679
113,328,904 117,259,080
Investment at cost 09 4,147,000 2,447,000
CURRENT ASSETS
Stocks and stores 10 28,873,626 32,686,997

Debtors 11 9,168,243 5,953,856
Advance, deposits and prepayments 13 3,993,971 2,458,934
Cash and bank balances 12 1,200,765 1,648,701
43,236,605 42,748,488
LESS: CURRENT LIABILITIES :
Goods supplied 16 7,857,554 9,439,223
Accrued axpenses 17 3,050,082 2,667,951
Other finance 18 704,610 2,059,841
Short term bank loans 14 45,272,735 29,958,967
56,884,981 44,125,982
NET WORKING CAPITAL (13,648,376) (1,377,494)
Total 103,827,528 118,328,586
Annexed notes form an integral part of these accounts
Director Manager Managing Director
Signed in terms of our report of even date annexed
Dated : Dkaka K. M. Hasan & Co

15 April 2004 Chartered Accountants
K. M. HASAN & CO.
BRAC-Renata Agro Industries Limited
Cash flow statement for the year ended 31 December 2003
2003 2002
Taka Taka
A. Cash flows from operating activities :
Collections from customers and other income 117,767,859 121,229,532
Payment of VAT ( Valued Added Tax) 0 0
Payment to suppliers and employees (134,664,002) (98,099,848)
Cash generated from operation (16,896,143) 23,129,684

Financing cost (11,660,337) (11,025,284)
Payment of tax 0 0
Net cash from operating activities (28,556,480) 12,104,400
B. Cash flows from investing activities :

Purchase of property, plant and equipment (2,099,885) (6,121,884)
Investment in PSP (1,700,000) (2,447,000)
Sale proceeds of property, plant and equipment 0 0
Net cash used in investing acvitities (3,799,885) (8,568,884)
C. Cash flows from financing activities :

Medium Term Loan ( Repaid ) to BRAC (17,000,000) 0
Loan received from Renata Limited 17,000,000 0
Medium Term Loan received / ( Repaid ) (13,718,716) (16,084,078)
Loan received 30,313,377 0
Net cash from financing activities 16,594,661 (16,084,078)
D. Net cash inflows / ( outflows ) for the yea (15,761,704) (12,548,562)

Add; Opening cash and cash equivalents (28,310,266) (15,761,704)
Closing cash and cash equivalents ( Note) (44,071,970) (28,310,266)

Rahman Rahman Huq
SCHEDULE - B: SUNDRY DEBTORS
2003
Taka
Insurance Claims Rec (39,500)

A/c Receivable - House Rent -
BRAC-Renata Agro ind. Ltd 17,000,000
BRAC - Renata Agro Ind. Ltd. 44,782
Misc. Receivables 2,763,253
VAT Deposit 3,651,216
Fair Price Shop 78,488
A/c. Curr. Provident Fund -
VAT Recoverable from Brow. 239,539
A/c. Receivables - Pakistan 38,184
23,775,962
SCHEDULE - C: ADVANCE TO EMPLOYEES
Salary Advance 311,375

Bonus Advance 236,966
Scooter Loan 1,767,000
Co's Loan to Employees 4,218,958
Preliberation loan 7,910
Bonus Advance-2004 5,429,988
11,972,197
SCHEDULE - D: PRE-PAYMENTS
Field Force Travel Advance 2,395,500

Travel Advance 802,635
Pre-paid Insurance 1,956,384
Pre-paid Rent 4,344,855
Pre-paid Misc. 60,000
Pre-paid Interest on Term Loan -
HBL-Accounts -
Pre-Payments-Final settlement 2,442,515
Deferred payments -
12,001,889
SCHEDULE - E: LIABILITIES FOR OTHER FINANCE
Others:
Share subscription -
W/H Income Tax 1,738,833
W/H Tax parties 17,972
A/c Employees Provident Fund 139,895
W/H Union fee -
W/H - VAT -
BRAC-Renata Int. Payable -
1,896,700
Rahman Rahman Huq
Rahman Rahman Huq
SCHEDULE-E: LIABILITIES FOR GOODS SUPPLIED
Property clearing -
V/P Factory -
V/P Jounalized 26,696,200
V/P Imports -
A/C Payable - Finished Goods of HMR -
A/C Payable - UK -
A/C Payable -
A/C Payable - Phillipines -
A/C payable - H.R -
A/C payable - Misc. Rec. (VAT on Borrowed Mat) -
26,696,200
SCHEDULE - F: ACCRUED EXPENSES:
V/P Journalised - H.O Expenses 3,097,256

V/P Journalised - H.O Insurance premium 550,597
Accrued RABIPUR Promotional expenses 1,866,475
Provision for Pay Incr. -
Accrued Leave Incentive 1,248,732
Accrued Absences 9,639,449
Accrued LFA 700,000
Recreation Allowance 1,691,315
Accrued Annual Bonus 520,506
Accrued Sales Incentive 15,590,797
Misc. A/c Payable (HR) 22,142
Accrued Legal Exps. -
Interest on Import S & C Bank 332,522
Accrued legal expenses 38,579
Accrued Prof. expenses 203,440
Accrued Prof. expenses -
Accrued expenses-Final settlement -
35,501,810
Rahman Rahman Huq
2002
Taka
378,196
-
-
25,072
1,379,265
4,392,186
79,128
-
-
38,184
6,292,031
385,078
4,740,776
1,199,300
4,530,495
9,300
-
10,864,949
1,671,500
695,752
1,595,287
2,440,655
60,000
-
180
4,952,685
-
11,416,059
-
1,642,219
13,652
7,788,193
3
-
-
9,444,067
Rahman Rahman Huq
Rahman Rahman Huq
-
-
11,413,329
756,091
-
-
-
-
(1,977,739)
-
10,191,681
1,977,739
-
-
-
740,882
7,416,255
500,000
764,811
161,272
10,771,824
(3,000)
-
374,302
129,532
238,690
-
-
23,072,307
Profit and Loss Account for the year ended on 31 December 2003
Total Total
for the Year for the Year
2003 2002
Notes Taka Taka
Turnover 19 ### 911,593,846

Cost of goods sold 20 (591,142,479) (531,953,504)
Gross profit 518,898,869 379,640,342
Other Income 21 674,641 0
519,573,510 379,640,342
Operating Expenses :
Administrative, selling and
distribution expenses 22 (336,382,466) (257,232,995)
Operating profit 183,191,044 122,407,347
Non-operating expenses ( net 23 (25,234,415) (23,083,430)
157,956,629 99,323,917
Contribution to WPPF (7,521,744) (4,729,710)
Profit before taxation 150,434,885 94,594,207
Tax expenses
Current 18 (41,261,347) (11,772,000)
Deferred tax expense /(benefit) (5,969,653) (10,257,962)
(47,231,000) (22,029,962)
Profit after taxation 103,203,885 72,564,245
Minority Interest
Pre-acquisation profit / (loss)
Profit after minority interest

Unappropriated profit brought forward 152,689,300 120,505,565
Profit available for appropriation 255,893,185 193,069,810
Appropriation :
Tax holiday reserve 6,746,035 17,136,160
Dividend, proposed 0 23,244,350
6,746,035 40,380,510
Unappropriated profit carried forward 249,147,149 152,689,300
Basic earnings per share ( par value Tk. 222.00 156.09

BRAC-Renata Agro Ind Ltd Consolidation Adjustment
Total Total Pre-acqusation Post

for the Year for the Year Minority Acquisatin
2003 2002 0 Interest Profi/(Loss)
Taka Taka Taka
120,568,126 120,979,280
(102,614,249) (87,841,630)
17,953,877 33,137,650 0
414,120 235,969
18,367,997 33,373,619 0
(7,490,002) (4,771,681)
10,877,995 28,601,938 0
(11,660,337) (11,025,284)
(782,342) 17,576,654 0
0 (836,984)
(782,342) 16,739,670 0
0
0
(782,342) 16,739,670 (391,124) (95) (391,124)
19,504,628 4,464,958 (19,504,628)

18,722,286 21,204,628 (19,895,752)
1,700,000
0 1,700,000 0
18,722,286 19,504,628 (19,895,752)
RENATA LIMITED
Consolidated P&L A/C
For The Year Ended 30 Dec.2003
49% Shares Total Total
of Renata Ltd for the Year for the Year
Out of Total 2003 2002
2002 Taka Taka
59,279,847 ### 970,873,693

(43,042,399) ### (574,995,903)
16,237,449 536,852,746 395,877,791
115,625 1,088,761 115,625
16,353,073 537,941,507 395,993,415
(2,338,124) ### (259,571,119)

14,014,950 194,069,039 136,422,297
(5,402,389) (36,894,752) (28,485,819)
8,612,560 157,174,287 107,936,477
(410,122) (7,521,744) (5,139,832)
8,202,438 149,652,543 102,796,645
0 (41,261,347) (11,772,000)
0 (5,969,653) (10,257,962)
0 (47,231,000) (22,029,962)
8,202,438 102,421,543 80,766,683
95 0
391,124 0
391,218 0
0 102,812,761 80,766,683
2,187,829 152,689,300 122,693,394
10,390,268 255,502,061 203,460,077
0
833,000 6,746,035 17,969,160
0 0 23,244,350
833,000 6,746,035 41,213,510
9,557,268 248,756,026 162,246,567
9,557,268 0
RENATA LIMITED
Short Term Loan as at 31 December 2004
AA. SHORT-TERM LOAN

Name of Bank Approved O/S Balance
Limit 31/12/2003
1. Agrani Bank:
Overdraft 70,000,000 6,545,415
2. American Express Bank

Overdraft - Discontinued from 01/07/03 0 10,000
3. Eastern Bank Ltd.

Overdraft 75,000,000 5,057,459
Import Loan 40,000,000 14,687,240
115,000,000 19,744,699
4. Hong Kong Shangai Bank
Overdraft 25,000,000 18,794,143
25,000,000 18,794,143
5 Standard Chartered Bank
Overdraft 60,000,000 32,218,507
0 1,567
Import Loan 120,000,000 37,363,869
Revolving Loan 40,000,000 14,604,574
220,000,000 84,188,517
TOTAL 430,000,000 129,282,774
ADD : Current portion of Short -term Loan
Total Loan Outstanding as on 31/12/03 30,000,000 17,500,008
Less : Payable after 12 Months 7,500,008
30,000,000 10,000,000
Total Short-Term Loan 460,000,000 139,282,774
BB. L/C Facilities :

Name of Bank Approved O/S Balance
Limit 31/12/2003
Agrani Bank: 20,000,000 4,890,000
American Express Bank 0 0
Eastern Bank Ltd. 70,000,000 11,769,889
Hong Kong Shangai Bank 70,000,000
Standard Chartered Bank 120,000,000 35,547,298
TOTAL 280,000,000 52,207,187
Un-availed
Facilities
15,110,000
0
58,230,111
70,000,000
84,452,702
227,792,813
Renata Limited and its Subsidiary
Consolidated Balance Sheet as at 31 December 2003
2003
Source of fund Notes Taka
Shareholders' equity:
Share capital 4 46,488,700
Revaluation surplus 5 215,631,161
Capital reserve 535,560
Unappropriated profit 6 248,756,027
553,394,762
Minority interest 7,877
Medium Term Loan 7 29,458,250
Deferred liabilities - Staff gratuity 8 47,180,850
Total: 630,041,739
Application of fund
Property, plant & equipment: 9
At cost/revaluation 657,920,085
Less: Accumulated depreciation 197,588,724
460,331,361
Deferred tax assets 10 1,697,309
Investment at cost 11 4,147,000
Trademarks and patent right -
Current assets:
Stocks and stores 12 322,849,097
Debtors 13 95,395,309
Advance, deposits and prepayments 14 32,897,379
Cash and bank balances 15 28,831,047
479,972,832
LesCurrent liabilities:
Creditors of goods 34,553,754
Accrued expenses 37,151,892
Other finance 16 13,408,798
Short term bank loans 17 184,555,509
Unclaimed dividend 822,633
Proposed dividend -
316,106,763
Net current assets 163,866,069 ###
630,041,739
The accompanying notes 1 to 35 form an integral part of these financial statements.

Managing Director Director Company Secretary
As per our annexed report of same date.
Rahman Rahman Huq

Dhaka, 20 May 2004 Chartered Accountants
Renata Limited and its Subsidiary
nsolidated Balance Sheet as at 31 December 2003
2002
Taka
46,488,700
216,267,046
33,122,813
-
162,246,568
458,125,127
-
43,311,717
50,639,200
552,076,044
537,698,389
166,352,043
371,346,346
7,666,962
1,199,030
5,000,000
272,253,401
67,585,041
27,544,014
51,993,883
419,376,339
14,816,900
24,379,603
17,529,772
150,051,248
21,856,323
634,437
23,244,350
252,512,633
166,863,706
552,076,044
Rahman Rahman Huq

Renata Limited - Conso Accounts 2013

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Statement of Financial Position

EQUITY AND LIABILITIES

Tax holiday units

Turnover 23 7,632,078,333 922,957,050 15,459,176 186,911,189

Administrative, selling and

Other Comprehensive Income:

Basic Earning per share

202,370,365 8,757,405,748 7,671,572,303

(25,260,269) (2,042,917,676) (1,890,859,261)

(938,375) (293,237,957) (400,255,434)

Share Revaluation Tax holiday Retained

Balance at 01 January 2013 225,935,000 158,434,421 131,443,579 3,442,795,036

Balance at 01 January 2013 282,418,750 157,955,918 206,609,358 4,423,495,723

Collection from customers and other income 9,993,664,238

Financing cost (421,631,006)

B. Cash flows from investing activities:

Purchase of property, plant and equipment (2,381,170,663)

C. Cash flows from financing activities:

D. Net cash outflows for the year (A+B+C) (91,030,049)

E. Opening cash and cash equivalents 331,292,974

F. Closing cash and cash equivalents (D+E) 240,262,925

the annexed notes

Plant and machinery 2,585,299,026 1,550,043,079 - 4,135,342,105 5 - 20 748,642,024 239,132,692 -

Total 2012 4,610,963,149 249,496,624 112,819,730 5,330,604,421 828,113,782 42,887,265 53,785,968

5.3 Depreciation for the year has been charged to:

5.5 Gain/(loss) on disposal of property, plant and equipment

5,632,500 4,479,644 1,152,856 1,551,705 398,849

### Share holding Amount in Taka

8. Investment in shares 3794026

Central Depository Bangladesh Limited 1,569,450 1,569,450

13. Share capital

Issued, subscribed and paid up capital

Sajida Foundation 18,004,045 180,040,450

Classification of shareholders by holdings:

Less than 500 shares 224 2,623### 2,847 314,272

g Plant, Sylhet depot, ERP

imited and Renata Oncolgy

per share on 31 December

Less: Depreciation charged during the year on revaluation of buildings (635,885)

15. Retained earnings

Opening balance 4,423,495,721

16. Deferred liability-staff gratuity

Opening balance 175,366,283

for gratuity is charged to profits

Opening balance 272,041,423

Property, plant and equipment (excluding land):

Provision for staff gratuity (net of payment) (175,366,283) -

19. Non-convertible Bond

At 31 December 2013 the institutional investors list are given below:

21. Provisions and other liabilities

22. Provision for taxation

of Renata Limited jointly with

ited jointly as above.

Sterile dry fill (injectable) Vials 636 4,140

Taka in '000 781,379

24. Cost of Sales

4,456,227,708 688,469,965 193,184,160

Opening work-in-process 103,404,295 22,888,131 8,833,307

Cost of goods manufactured 3,546,572,826 583,719,196 169,686,050

24.2 Cost of raw materials consumed

24.3 Purchases, issues and stocks of raw materials

Active materials (Note 25.4) 199,682,148 1,037,120,217