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PADMA OIL COMPANY LIMITED

BALANCE SHEET AS AT 30JUNE 2005

Taka in ‘000

________________________

30 June- 05

APPLICATION OF FUNDS

TANGIBLE FIXED ASSETS 358613

15007108

14486375

3526694

10428815

60231

111205

880163

URRENT ASSETS

Stocks

Debtors

Advances, Deposits & prepayments

Income tax- refund receivable

Cash and Bank balances

425000

14032629
28746

URRENT LIABILITIES & PROVISIONS

Bank borrowing

Creditors and accruals

4246

24500

Dividend

Unclaimed

Proposed

NET CURRENT ASSETS 520733

__________

NET ASSETS 879346

========

49000

830346

OURCES OF FUNDS

Share capital

Reserves

General reserve

SHAREHOLDERS FUNDS 879346

==========

PADMA OIL COMPANY LIMITED


INCOME STATEMENT

FOR THE YEAR ENDED 30 JUNE 2005


Taka in ‘000

________________________

30 JUNE 2005

Turnover of petroleum products 38214196

37148227

535790

12457

6515

ost of turnover of petroleum products

Products

Freight

Packages

Handling

(37702989)

Gross Profit on petroleum trading 511207

(384915)

(87659)

verheads

Administrative, selling & distribution expenses

Interest- through BPC

(472574)
Trading profit on petroleum trading 38633

Other income, operating 79712

---------------------------

Operating Profit on petroleum trading 118345

Operating (Loss) / Profit on Agro- Chemicals trading 10692

O perating Profit 129037

Contribution to Worker’s Profits Participation

and Welfare Funds @ 5% of operating profit (6452)

Net operating profit 122585

Other income, non-operating 259

Profit before income tax 122844

Provision for income tax (36000)

Net profit available for appropriation 86844

=================

Appropriations

24500

62344

roposed dividend Tk. 5 (2004; Tk 5) per share

Transferred to general reserve

86844

==================

Earning per share (Basic) 17.72


PADMA OIL COMPANY LIMITED
CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2005

Taka in ‘000

30 June 2005

122844

24887

45667

(69913)

PERATING ACTIVITIES

38602779

(38392276)

(87659)

Collection from sales and other income

Payment for cost & expenses

Interest – net through BPC

Profit before income tax

Depreciation of operating fixed assets

Prior year’s adjustment Written Back

Income tax paid

123485

(843270)
1138569

95135

(1286663)

ncrease / (Decrease) in

Stocks

Debtors

Advances, Deposits & pre- payments

Increase / (Decrease) in

Creditors and accruals

Inflow / (Out flow) from operating activities (896229)

(80096)

NVESTING ACTIVITIES

Capital Expenditures

Investment

(80096)

FINANCING ACTIVITIES

D ividend paid (24180)

Net Cash (Outflow) / Inflow (877020)

===============

Check

Cash and bank balances & bank borrowing

Opening (1332183)

Closing 455163
877020

===================

RATIO ANALYSIS

Liquidity ratios

Current ratio = Total Current assets / Total Current liabilities


Quick / Acid test ratio = (Current assets- inventories) / Total current liabilities

Asset management ratios

Inventory turnover = Sales / Inventory


Days sales outstanding = Receivables / Average sales per day

= Receivables / (Annual sales / 360)

Fixed assets turnover = Sales / Net fixed assets


Total asset turnover = Sales / Total assets

Debt management ratio

Debt ratio = Total debt / Total assets


Time-interest-earned ratio = Earning before interest & taxes / Interest charges
EBITDA coverage ratio = (EBITDA + Lease payments) / (Interest

+ Loan repayments + Lease payments)

Profitability

Profit margin on sales = Net income available to common stockholders / Sales


Basic earning power = EBIT / Total asset
Return on assets = Net income available to common stockholders / Total assets

4. Return on common equity = Net income available to common stockholder

/common equity

= Net income available to common stockholder

/ Total assets – Total liabilities

Market value ratio

Price/ Earning (P/E) ratio = Current market price of share / Earning per share
Price / Cash flow ratio = Price per share / Cash flow per share
= Price per share / (Net cash flow / No. of share)

Market / book ratio (M/B) = Market price per share / Book value per share

Book value per share = Common equity / Shares outstanding