Annual Report 2014 PDF

TABLE OF CONTENTS
Item Page No.
Corporate Directory 02
Board of Directors 02
Notice of the Annual General Meeting 04
Massage from the Chairman 06
Massage from the Managing Director 07
Report of the Directors to the shareholder 08-13
Financial History 15
Corporate Governance Compliance Status Report 16-19
Declaration of Managing Director & Chief Financial Officer to the Board of Directors 20
Certificate on Compliance of Corporate Governance Guidelines 21
Report of the Audit Committee 22
Bangla version of Report of the Directors to the shareholder 23-24
Financial Statements
Auditors’ Report to the shareholder 25
Statement of Financial Position 26
Statement of Comprehensive Income 27
Statement of Changes in Equity 28
Statement of Cash Flows 29
Notes to the Financial Statements 30-48
Proxy Form and Attendance Slip 49

ANNUAL REPORT-2014
CORPORATE DIRECTORY
BOARD OF DIRECTORS
Mr. S.M.Fakhar-uz- Zaman Chairman
Mr. M.A.Kabir Managing Director & Director
Mr. Md. Rezaul Karim Independent Director
Mr. Ahmed Hossain Independent Director

AUDIT COMMITTEE
Chairman Mr. Md. Rezaul Karim
Member Mr. S.M. Fakhar-uz- Zaman
Member Mr. Ahmed Hossain
SENIOR EXECUTIVES AND OFFICERS

CFO & Company Secretary : Mr. Yeasin Arafat
Chief Operating Officer :Mr. K.M. Sanowar Rahman
Deputy General Manager (production) : Mr. Mojurul Kadir
Manager (HR & Admin) : Mr. Mafiul Azam
AUDITORS LEGAL ADVISORS

Ahmed Zaker & Co.
Chartered Accountants M A Latif Khan
Saiham Tower, Latif Khan & Associates
45 Shaheed Syed Nazrul Islam Sarani 123/125 New Kakrail, Dhaka
Bijoynager, Dhaka-1000
BANKER
NCC Bank Limited
Motijheel Main Branch, Motijheel C/A, Dhaka,
Shymoli Branch, Dhaka & Rangpur Branch, Rangpur.
Dutch-Bangla Bank Limited

Ring Road Branch, Dhaka.
Islami Bank Bangladesh Limited

Shymoli Branch, Dhaka.
Prime Bank Limited

Foreign Exchange Branch, Dhaka.
ANNUAL REPORT-2014
Union Bank Limited

Hatkhola Branch, Dhaka.
HEAD OFFICE REGISTERED OFFICE & FACTORY

22/19, Khiljee Road, Mohammadpur, Salaipur (Baldipukur Bus Stand)
Dhaka-1207, Bangladesh Baldipukur, Rangpur-5460
Tel : +88 02 9115227, 8121900, 9134387 Bangladesh
Fax: +88 02 9114865, E-mail : rdfpl@dhaka.net
web site : www.rdmilk.org
02
Vision
Bringing prosperity into rural families of Bangladesh through co-operative efforts and providing customers with hygienic,
affordable and convenient supply of “Fresh and Healthy” food products.
Mission
To be the market leader in the dairy industry by providing high quality dairy brands to the market.
To achieve this for delighting customers by providing “Fresh and healthy” Food products with high quality and improved
nutritional standards.
We are committed to enhance prosperity and the empowerment of the farming community through our unique
“Relationship Farming” Model.
To be a preferred employer by nurturing entrepreneurship, managing career aspirations and providing innovative
avenues for employee with enhanced prosperity.
MAJOR MILESTONES OF THE COMPANY

2004 : Incorporated as Private Limited Company
2007 : Started commercial operation.
2008 : Introduction of Candy production.
2010 : Conversion to Public Limited company.
2011 : Public Issue of Share through IPO.
2012 : Obtain HACCP & ISO Certificate and also launch new
Product line in Aseptic Brick Pack.
2013 : Obtain BSTI and HALAL Certificate.
ANNUAL REPORT-2014
03
RANGPUR DAIRY & FOOD PRODUCTS LIMITED
22/19, Khiljee Road, Mohammadpur, Dhaka-1207
NOTICE OF THE 11TH ANUUAL GENERAL MEETING
Notice is hereby given that the 11th Annual General Meeting of RANGPUR DAIRY AND FOODS PRODUCTS LIMITED will be
held on Saturday, June 06, 2015 at 11.00 AM at Factory Premises: Salaipur, (Baldipukur Bus Stand), Baldipukur,
Rangpur-5460 to transact the following business:
AGENDA
1. To receive, consider and adopt the Audited Accounts of the company for the Year ended December 31, 2014
together with reports of the Auditors and Directors.
2. To declare Dividend for the year ended 31 December 2014.
3. To elect/re-elect Directors of the company.
4. To appoint Auditors for the year 2015 and to fix their remuneration.
Dhaka By order of the Board

May 22, 2015
Sd/-
(Yeasin Arafat)
CFO & Company Secretary
NOTES:
1. The record date in lieu of Book Closure shall be on Thursday May 21, 2015.
2. The Shareholders names appearing in the Register of Members of the Company upto the record date will be entitled
to attend the Annual General Meeting.
3. The Directors has recommended no dividend for the year ended December 31, 2014.
4. A member entitled to attend and vote at the Annual General Meeting may appoint a proxy to attend and vote on
his/her behalf. The Proxy Form, duly completed, must be deposited at the Share Office of the Company at 22/19,
Khiljee Road, Mohammadpur, Dhaka-1207 not later than 72 hours before the time fixed for the Meeting.
ANNUAL REPORT-2014
5. Members are requested to notify the changes of address, if any, well in time. For BO A/C holders, the same to be
rectified through their respective Depository Participants.
6. Admittance to the meeting venue will be strictly on production of the Attendance Slip sent with the Notice.
04
10th AGM
10th AGM
ANNUAL REPORT-2014
71th Board Meeting
05
MESSAGE FROM THE CHAIRMAN
Dear Shareholders,
Assalamu Alaikum,
It is really a great pleasure for me to be here with you in the 11th Annual General Meeting of Rangpur Dairy and Food
Products Limited. Your impulsive participation with taking difficulty in long journey manifests itself of your confidence on
the company.
We are pleased to disclose that, despite various challenges faced by us in the overall business environment due to political
instability and inter industry competition and economic downturn, the company performed well compared to its
compeers in Food Industry.
I would like to express my gratitude to all our valued shareholders, Bangladesh Securities and Exchange Commission
(BSEC), Dhaka Stock Exchange Limited (DSE), Chittagong Stock Exchange Limited (CSE), Central Depository of Bangladesh
Limited (CDBL), RJSC, well-wisher, customers, bankers, our work force, senior management staff of the company who
extended their continue support, co-operation, suggestion & guidance for running our business successfully.
May Allah bless all of us.

ANNUAL REPORT-2014
Allah Hafiz
(S.M.Fakhar-uz-Zaman)
Chairman
06
MESSAGE FROM MANAGING DIRECTOR
Bismillahir Rahmanir Rahim

Dear Shareholders
It is indeed my great pleasure to welcome you to the 11th Annual General Meeting and present you the audited Accounts
of the company for the year ended 31st December 2014 along with its Auditor’s Report and Director’s Report for your
consideration and approval.
While presenting this report I would like to mention that I have reorganized the total business with efficiency and sincerity
for the year under report to achieve our goal with support and guidance of the board as per as your suggestion.
Due to having economical & political unrest in the country during the year our EPS is decreased from the previous year as
a result we could not declared dividend for shareholders. I request all the shareholders and board of directors of the
company to give support so that we will continue better business result and declared the dividend in near future.
Therefore I would like to express my profound gratitude to all the members of the Board of Directors of Rangpur Dairy
and Food Products Limited for their all through support and suggestions to guide me to continue with the work smoothly
to achieve the best possible goal for the Company.
Before, on behalf of the management of the Company, I would like to express my thanks and gratitude to all of our
honorable shareholders, customers, auditors and all other regulatory authorities including BSEC, RJSC, DSE, CSE and CDBL
for their co-operation for the successful operation of the Company during the year 2014.
ANNUAL REPORT-2014
With thanks and best regards
(Engr. M.A. Kabir)

Managing Director
07
REPORT OF THE DIRECTORS TO SHAREHOLDERS
Bismillahir Rahmanir Rahim

Dear Shareholders,
Assalamu Alaikum,
The Board of Directors of Rangpur Dairy & Food Products Limited welcomes all of you to the 11th Annual General Meeting
(AGM) of the Company. We are pleased to submit you the Annual Report report along with the audittor’s report and
Audited Financial Statements of the Company covering the balance sheet, profit & loss account, revenue accounts and the
notes thereto for the year ended on 31st December 2014.
The Directors’ Report is prepared in compliance with Section 184 of the Companies Act 1994 and Bangladesh Securities &
Exchange Commission’s (BSEC) notification no- SEC/CMRRCD/2006-158/134/Admin/44 dated 07th August 2012.
Review of the operational performance

Member of the board of Rangpur Dairy & Food Products Limited are fully conscious of the operational activities
performed throughout the financial year 2014. At present the tremendous competition among the market of food
products in Bangladesh. Though products are diversified according to the customers’ requirements and eagerness. We
could not achieve our business goal due to having economical & political unrest in country.
Turnover:
During the year ended 31 December 2014 your company achieved a total net turnover of Taka 467,795,558 as against Last
year’s turnover was taka 432,422,513.
323,989,267 Turnover
467,795,558
2014
2013
338,796,151
2012
2011
432,422,513
2010
393,096,373
Year 2014 2013 2012 2011 2010

Turnover 467,795,558 432,422,513 393,096,373 338,796,151 323,989,267
Net Profit:
ANNUAL REPORT-2014
Net profit (after tax) during the year ended is taka 41,047,314 as against last year’s Net Profit (after tax) was taka
43,800,542.
08
Net Profit
2014
45,187,841 41,047,314
2013
2012
2011
43,800,542
61,544,657 2010
44,717,661
Year 2014 2013 2012 2011 2010

Profit 41,047,314 43,800,542 44,717,661 61,544,657 45,187,841
Earnings per share:

EPS during the year ended 31 December 2014 is taka 0.76 per share as against last year’s EPS was Taka 0.89 per share.
EPS
0.76
2.18 0.89
2014
1.00 2013
2012
2.26
2011
2010
Year 2014 2013 2012 2011 2010

EPS 0.76 0.89 1.00 2.26 2.18
EPS
(Restated) 0.76 0.81 0.91 1.37 2.18
ANNUAL REPORT-2014
Cost of Goods Sold:

This year’s cost of goods sold is BDT 344,307,463 as compared to last year’s cost of goods sold was BDT 367,381,298.
09
Cost of Goods Sold
237,552,713
367,381,298
2014
252,937,630
2013
2012
344,307,463
2011
310,840,324 2010
Gross Profit:
The company has achieved turnover of Tk. 467,795,558 during the year ended December 31, 2014. Last year’s turnover
was Tk. 432,422,513 The Increased in turnover is 8.18% over the last year. Gross profit earned during the year isTk.
100,414,260 as against last year’s gross profit was Tk. 88,115,050.
Gross Profit
86,436,554
100,414,260
2014
2013
85,858,521 2012
88,115,057
2011
2010
82,256,049
Extra-Ordinary gain or loss:

During the year there was no realized extra-ordinary gain or loss made the company.
Risks and concerns:

The prime raw material of our products is raw milk and it is procured mainly from greater Rangpur, Dinajpur, Pabna,
Sirajgong and some other District in Bangladesh. Recently the price of raw milk is higher than ever. The power & transport
cost are also factor for production.
Brand and Communications

For better brand building and communication, the company is investing heavily for long term sustainability &
ANNUAL REPORT-2014
acceptability of the company’s product at home adopting new ideas and techniques in the competitive market.
Business Overviews
Agriculture has always served a virtual role in Bangladesh economy in terms of GDP contribution, employment
generation, rural development and food security. Bangladesh has dense and large population and agriculture is their
mainstay. Alternative options for livelihood improvement are also limited. Thus, agriculture development is the top of the
agenda for government & all other development concerns to bring prosperity in our country.
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Industry Analysis
The Dairy Milk Products Industry was initiated in 1946. At present, milk products contribute to 3.1% of Agro Sector GDP
and 0.5% of total GDP. Historically Milk Products grew at a rate of 1.18% annually (from GDP at Constant Prices). In a year,
contribution from this industry to the economy was BDT 25,028 million.
The milk industry has a few segments. Firstly, there are Fresh milk and powder milk. Secondly, there is a flavored milk
segment. Finally there are milk by-products like Ghee, Butter etc. among these segments, liquid and powder milk segment
is the largest and is quite competitive. Competition between liquid and powder milk is based on both price and quality,
and they act as substitutes. While powdered milk importers focus on creating brand image, the liquid milk producers focus
on the issue of purity and freshness of milk. Among the liquid milk producers, the two broad categories are Pasteurized
and UHT milks. These two are basically different process of purifying milk from bacteria. In Bangladesh, all but three plants
are pasteurization plants. These plants require less fixed capital compared to UHT plants. But UHT plants provide products
with longer shelf life and better quality. Still, UHT processed milk is a new concept to local users and will take some time
before establishing a solid position. Again milk has a nutrition value to every human being. So the possibility of decrease
in demand is less.
UHT Milk
In the country like Bangladesh with high ambient temperature, milk being very perishable item, the pasteurized milk
needs 100% cold chain starting from packing to storage, storage to distributor, distributor to retailers. If there is any
increase of milk temperature more than + 4 Deg C during the storage and distribution, the quality of Pasteurized milk
deteriorates instantly. As such, the scope of distribution of pasteurized milk remains within urban city and within the
limited market area of the country. On the other hand, UHT milk can be distributed to any corner of Bangladesh by
ordinary transport and still the quality of milk remains intact. Both the urban and rural population may get the benefit of
the UHT milk which is needed for healthy growth of our young population.
UHT means treatment of milk at Ultra High Temperature which is sterilizing milk at 140 to 150 Deg C for 2 to 5 seconds. By
UHT treatment, the milk is fully sterilized and then aseptically packed in 5 to7 layers of packaging material (paper or poly
ethylene) with barrier film. UHT treatment has no adverse effect on the nutritional value or vitamin content compared to
ordinary pasteurization of milk. But it facilitates storage of UHT treated milk in ambient temperature for longer time
without any effect on the quality of milk.
UHT processed milk must be packed in Aseptic packing machine, pouch or bricks. The UHT milk is packed in the packing
line, which also operates under aseptic condition. The complete UHT process and Aseptic Filling machine must be
operated under 100% aseptic conditions to ensure killing of 100% bacteria, spores etc and to pack the milk under 100%
aseptic condition.
The processing and packaging cost of pasteurized milk is little cheaper compared to UHT milk but the distribution cost in
cold chain, storage in cold temperature and the deterioration of milk quality clearly supplements the UHT milk. With
greater volume of UHT milk, it is more of a good business to run compared to pasteurized milk.
Raw Materials
The prime raw material of RDFPL is raw milk and it is procured mainly from greater Rangpur, Dinajpur, Pabna, Sirajgong
and some other District in Bangladesh.
Production & Quality Control
ANNUAL REPORT-2014
With modern lab facility, qualified and foreign-trained chemists, Rangpur Dairy performs pre-sale and post-sale tests for
every batch of production. For quality assurance, fresh milk is tested on various stages. Chemists of the Company conduct
the comprehensive test on fat, acidity, alcohol, COB (Clot on Boiling) to ensure high quality and to preserve the original
taste. After successfully packaging the products, a sample of finished products is stored from every batch. Other than this
the authority of BSTI checks the quality of the products once in a year and reports based on that survey.
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Sales, Marketing & Distrubtion
In the year 2014, the company restructured the network of distribution and many steps have been taken to improve and
strengthening the whole process. Initially Rangpur Dairy started its marketing campaign highlighting only the difference
and advantage between the pasteurized and UHT process milk as UHT was relatively a new concept in Bangladesh.
Therefore, it targeted hospitals, doctors and other elite class citizens as prospective consumers of its products. The
sponsors realized that if they can convey the inherent features and quality of UHT milk to the elite educated class, they
would be able to grab more customer base in future. We are committed to increase sales by reaching to our valued
consumers with variety of products within shortest possible time.
Human Resources
RD feels human resource is the engines of company’s growth. In order to accelerate growth of the company, it had
adopted dynamic human resource management strategy considering human resource as the power house of its success.
Your company is blessed with competent and capable human resource which is recruited in the company through a
transparent process. The management of the company is always dedicated towards nurturing the potentialities of our
human resource through training and development so that human resource may excel in every possible way.
The company is always striving toward its goal to provide better compensation benefits to its employee with maximum
assurance of an environment where team spirit, work excellence and creativity flourish. The company is also committed to
ensure quality management through its working force. Every employee finds the scope for career development at RD by
their merit and performance to the service.
Financial Results and Appropriations
The Directors of the company are pleased to report to its shareholders the financial result of the company for the year
ended 31 December 2014 and their recommendations of earnings for the year under review are as follows:
Particulars FY-2014 FY-2013

Net Profit after tax 4,1047,314 4,38,00,542
Add: Accumulated (Surplus brought forward) 14,14,98,097 14,18,59,507
Profit Available For Appropriations 18,25,45,411 18,56,60,049
Dividend Paid for 2013 (4,92,80,000) (4,48,00,000)
Proposed Dividend (April 29, 2015) Nil (4,92,80,000)
Balance Carried Forward 13,32,65,411 915,80,049
Dividend:
The Board of Directors has recommended no dividend for the year 2014. Because of the business result not reached up to
the mark.
Rotation of Directors:
Mr. Md. Rezaul Karim is retiring from the Board in terms of the Articles of Association of the Company and being eligible,
ANNUAL REPORT-2014
offer him selves for re-election. Mr. Abdul Awal, one of the directors of the company has resigned from the post of the
Board of Directors.
Appointment of Auditor:
The retiring Auditors Ahmed Zaker & Co. Chartered Accountants, being eligible, offer themselves for re-appointment as
statutory Auditors of the Company for the financial year 2015.
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A. Statutory Information
In compliance with the Bangladesh Securities and Exchange Commission’s condition no.-1.4 the Directors confirms that:
The financial statements prepared by the management of the issuer company present fairly its state of affairs, the result of
its operations, cash flows and changes in equity.
Proper books of account of the issuer company have been maintained.
Appropriate accounting policies have been consistently applied in preparation of the financial statements and that the
accounting estimates are based on reasonable and prudent judgment.
International Accounting Standards (IAS)/Bangladesh Accounting Standards (BAS)/ International Financial Reporting
Standards (IFRS)/Bangladesh Financial Reporting Standards (BFRS), as applicable in Bangladesh, have been followed in
preparation of the financial statements and any departure there-from has been adequately disclosed.
The system of internal control is sound in design and has been effectively implemented and monitored.
There are no significant doubts upon the issuer company's ability to continue as a going concern.
Board meetings:
The Number of Board Meeting held during the year and attendance by each Directors is given in annexure-I.
The pattern of shareholding:
In accordance with the requirement of the Bangladesh Securities and Exchange Commission, “The pattern of
shareholding” is annexure-II.
Key operating and financial data of at least preceding 5 (five) years:
The Key operating and financial data of at least preceding 5 (five) years is given in annexure-III.
B. Status of Compliance Report:
In accordance with the requirement of the Bangladesh Securities and Exchange Commission, “Corporate Governance
Report” is given in annexure-IV.
Acknowledgment
In conclusion, we would like to express our sincere thanks to our valued shareholders, Bangladesh Securities and
Exchange Commission (BSEC), Dhaka Stock Exchange Limited (DSE), Chittagong Stock Exchange Limited (CSE), Central
Depository of Bangladesh Limited (CDBL), RJSC and other business associates for their valuable suggestions, continuous
support and co-operation extended during the period under review. We would like to thank our auditor for their efforts
for timely completion of the audit. We also thank to our dedicated management team and employees whose hard work
and firm commitment made this year a successful one. We hope to get all of your support, advice and encouragement for
our continuous growth.
Thanking you all.
On behalf of the Board ANNUAL REPORT-2014
( M.A. Kabir) (S.M . Fakhar-uz-Zaman)

Managing Director Chairman
13
Annexure I
Attendance of Board meetings:
During the year 09 Board Meetings were held and attendance by each Director is as follows:
Name of Directors Meeting attended

Mr. S.M.Fakhar-uz-Zaman 09
Mr. M.A.Kabir 09
Mr Abdul Awal 05
Md. Rezaul Karim 09
(Independent Director)
Mr. Ahmed Hossain 09
(Independent Director)
Annexure II
Pattern of shareholdings:
As per BSEC guideline condition no.- 1.4(k), the pattern of share holding status as on 31 December 2014 is given bellow:
1.4(k) (I) Held by Parent/subsidiary/Associated and other related patties Nil

1.4(k) (II) Held by Directors, Chief Executive Officer, Company Secretary, Chief Financial Officer, etc.
Name Position No. of shares

Mr. S.M.Fakharuzaman Chairman 58,32,671
Mr. M.A.Kabir Managing Director & Director 58,32,671
Mr Abdul Awal Sponsor 10,84,160
Mr. Shah Fahad Zaman Sponsor 4,87,872
Mr. Amitabha Bhowmik Sponsor 1,62,624
Md. Yer Ali Sponsor 1,53,895
Md. Mijanur Rahman Sponsor 8,94,432
Mrs. Sultana Parvin Sponsor 6,78,629
Mr. Md. Rezaul Karim Independent Director Nil
Mr. Ahmed Hossain Independent Director Nil
Mr. Yeasin Arafat Chief Financial Officer Nil
1.4(k) (III) Held by Executive Nil

ANNUAL REPORT-2014
1.4(k) (IV) Held by Shareholders holding ten percent (10%) or more voting right:
Name Position % of shares

Mr. S.M.Fakharuzaman Chairman 10.76%
Mr. M.A.Kabir MD & Director 10.76%
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Annexure III
Five Years Financial History
Particulars Amount 2014 2013 2012 2011 2010

Authorized Capital Taka 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000 1,000,000,000
Paid up Capital Taka 542,080,000 492,800,000 448,000,000 400,000,000 236,586,000
Share Premium Taka 130,371,200 130,371,200 130,371,200 130,371,200 0
Revaluation Reserve Taka 106,910,294 107,994,533 109,112,305 109,112,305 109,112,305
Retained Earnings Taka 134,349,651 141,498,096 141,859,507 145,141,846 83,597,189
Non Current Assets Taka 629,084,728 588,803,602 558,844,866 403,710,475 415.166,287

Intangible Assets Taka 1,376,741 1,529,712 742,000 848,000 954,000
Investments Taka 18,151,136 18,151,136 28,443,636 171,030,000 11,430,000
Current Assets Taka 320,225,136 307,505,318 298,446,933 403,311,986 125,825,953
Current Liabilities & Taka 47,764,298 37,338,733 52,570,781 192,951,241 84,451,140
Provisions
Net Current Assets Taka 272,460,838 270,166,585 245,876,153 210,360,745 41,391,813
Non-current liabilities Taka 7,002,298 5,627,206 4,203,643 963,869 39,646,605
Net Sales Revenue Taka 467,795,558 432,422,513 393,096,373 338,796,151 323,989,267
Cost of Goods Sold Taka 367,381,298 344,307,463 310,840,324 252,937,630 237,552,713
Gross Profit Taka 100,414,260 88,115,050 82,256,049 85,858,521 86,436,554

Operating Expenses Taka 52,190,674 38,221,618 37,460,066 58,714,690 29,716,186
Profit from Operation Taka 48,223,587 49,893,432 44,795,983 27,143,832 56,720,368
Net Profit before Taka 43,734,440 47,396,971 49,976,537 64,731,415 45,187,841
Income Tax
Net Profit / (Loss) Taka 41,047,314 43,800,542 44,717,661 61,544,657 45,187,841
after Income Tax
1. Liquidity Ratios:
Current Ratio 6.70 8.24 5.68 2.09 1.49
Quick Ratio 5.00 6.29 4.36 1.85 0.99
Times Interest Earned Ratio 14.97 23.89 19.06 6.44 5.95
Debt to Equity Ratio 0.02 0.02 0.02 0.02 0.14
2. Operating Ratios:
Accounts Receivable 5.96 6.02 6.48 7.65 10.82
Inventory Turnover 4.77 4.86 5.39 5.73 5.88
Fixed Asset Turnover 0.77 0.75 0.82 0.83 0.92
3. Profitability Ratios:
Gross Margin 21.47 20.38 20.93 25.34 26.68
ANNUAL REPORT-2014
Operating Income 10.31 11.54 11.40 8.01 17.51

Net Income 8.77 10.13 11.38 18.17 13.95
Return on Assets 4.32 5.01 5.22 7.63 8.35
Return on Equity 4.49 5.02 5.39 7.84 10.53
Earnings Per Share (EPS) 0.76 0.89 1.00 2.26 2.18
Net Asset Value 16.86 17.72 18.52 28.86 18.15
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ANNUAL REPORT-2014
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ANNUAL REPORT-2014
Managing Director & Chief Financial Officer’s Declaration
to the Board of Directors.
Date: April 09, 2015
The Board of Directors

Rangpur Dairy & Food Products Limited
22/19, Khiljee Road, Mohammadpur
Dhaka-1207, Bangladesh.
Subject: Managing Director & Chief Financial Officer’s Declaration to the Board of Directors of Rangpur Dairy & Food
products Limited.
Dear Sirs:
In compliance with the condition no. 6 imposed by the Bangladesh Securities & Exchange Commission’s Notification No.
SEC/CMRRCD/2006-158/134/Admin/44 dated August 07, 2012 issued under Section 2CC of the Securities & Exchange
Ordinance, 1969, we do hereby certify to the Board of Directors are as follow:
(i) We have reviewed the financial statements for the year ended on 31th December 2014 and that to the best of our
knowledge and belief:
(a) these statements do not contain any materially untrue statements or omit any material fact or contain statements
that might be misleading;
(b) these statements together present a true and fair view of the company’s affairs and are in compliance with existing
accounting standards and applicable laws.
(ii) There are, to the best of knowledge and belief, no transaction entered into by the company during the year which are
fraudulent, illegal or violation of the company’s code of conduct.
Thanking you,
Sincerely yours,
ANNUAL REPORT-2014
Sd/- Sd/-
(M.A. Kabir) (Yeasin Arafat)
Managing Director CFO & Company Secretary
20
To the shareholders of
Rangpur Dairy and Food Products Limited
Certificate on Compliance of Corporate Governance by

Rangpur Dairy and Food Products Limited for the year ended December 31, 2014.
Basis of Opinion:
We have examined the compliance of corporate governance guidelines of the Bangladesh Securities and Exchange
Commission ("BSEC") by Rangpur Dairy and Food Products Limited (the "Company") as stipulated in clause 7(i) of the BSEC
notification no. SEC/CMRRCD/2006-158/134/Admin/44 dated August 07, 2012.
Period Covered:
Our review for this certificate of is limited to the aspects for the period from January to December 2014.
Opinion:
In our opinion, our examination for the purpose of issuing this certification was limited to the checking of procedures and
implementations thereof, adopted by the Company for ensuring the compliance of conditions of corporate governance
and correct reporting of compliance status on the attached statement on the basis of evidence gathered and
representation received.
To the best of our information and according to the explanations given to us, we certify that, except as reported on the
attached status of compliance statement, the Company has complied with the conditions of corporate governance
guidelines stipulated in the above mentioned BSEC notification dated August 07, 2012.
Dated: Dhaka Sd/-

April 21, 2015 A.MATIN & Co.
Chartered Accountants
ANNUAL REPORT-2014
21
AUDIT COMMITTEE REPORT
For the year 2014
The Audit Committee of Rangpur Dairy & Food products Limited was formed as per terms of reference approved by the
Board in accordance with the notification of BSEC no. SEC/CMRRCD/2006-158/134/Admin/44, dated 07/08/2012.
The Committee normally meets in the next month of every quarter. Four (4) Audit Committee meetings were held during
the year 2014. The details of attendance at the meetings are given bellow:
SL Name of members Status Meeting held Attendance

1 Md. Rezaul Karim Chairman 4 4
2 Mr. S.M.Fakhar-uz-Zaman Member 4 4
3 Mr. Ahmed Hossain Member 4 4
Scope of the Audit Committee:

i) Reviewed the financial and other systems including internal control and its reporting procedure;
ii) Reviewed the duties, responsibilities, functions, degree of independence, due diligence with due care, objectivity and
staffing of internal audit department;
iii) Recommend to the Board regarding appointment of the external auditors and their terms of appointment;
iv) Reviewed all the operational policies before being approved by the Board;
- Reviewed the effectiveness and independence for the statutory auditors;
- Reviewed along with the management, the quarterly and the half yearly financial statements before submission to the
Board for approval.
- Reviewed along with the management, the annual financial statements before submission to the Board for approval;
- Strict adherence and compliance with the Bangladesh Accounting Standards and recommended the best accounting
practices;
Activities of the Audit Committee during the year:

The Audit Committee reviewed the quarterly, half yearly and annual financial statements and recommended to the Board
for consideration. The committee had reviewed and approved the procedure & task of internal audit department and
financial report perpetration. The Audit Committee assists the Board of Directors in ensuring that the financial statements
reflect true and fair view of the state of the affairs of the Company and in ensuring a good monitoring system within the
business.
ANNUAL REPORT-2014
Sd/-
(Md. Rezaul Karim)
Chairman, Audit Committee
January 29, 2015
22
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ANNUAL REPORT-2014
ANNUAL REPORT-2014
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24
Auditors’ Report
We have audited the accompanying financial statements of Rangpur Dairy & Food Products Limited which comprise the
Statement of financial position as at 31 Dec 2014 along with Statement of Comprehensive Income, Statement of Changes
in equity and Statement of Cash Flows for the year then ended, and a summary of significant accounting policies and
other explanatory notes.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
Bangladesh Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining internal
control relevant to the preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates
that are reasonable in the circumstances.
Auditors’ Responsibility
Our responsibility is to audit the financial statements and express an opinion on based on our audit. We conducted our
audit in accordance with Bangladesh Standards on Auditing, those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free
from material misstatement.
Basis of Opinion:
An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial
statements. It also includes an assessment of the significant estimates and judgments made by the company in the
preparation of the financial statements, and of whether the accounting policies are appropriate to the RDFPL’s
circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the
information and explanations which we considered necessary in order to provide us with sufficient evidence to give
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in
the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Opinion
In our opinion the financial statements give a true and fair view of the state of the Rangpur Dairy & Food Products
Limited’s affairs at 31 December 2014 and its financial performance and position for the year ended have been prepared
in accordance with Bangladesh Financial Reporting Standards and comply with the Companies Act 1994, Securities &
Exchange Rules 1987 and other applicable laws and regulations.
On other legal and regulatory requirements
We also report that;
a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary
for the purpose of our audit and made due verification thereof;
b) in our opinion proper books of account as required by law have been kept by the company so far as it appeared from
our examination of those books;
c) the company’s Statement of financial position, statement of comprehensive income, Statement of Changes in equity
and Statement of Cash Flows dealt with by the report are in agreement with the books of accounts.
ANNUAL REPORT-2014
d) the expenditures incurred were for the purpose of the Company’s business.
Dated: April 29, 2015 AHMED ZAKER & CO.

Dhaka Chartered Accountants
25
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2014
Taka Taka
Notes
2014 2013
Non-current assets 629,084,728 588,803,602

Property, Plant & Equipment 4 628,576,243 588,295,117
Construction WIP 508,485 508,485
Intangible Assets (Software) 1,376,741 1,529,712
Investments 18,151,136 18,151,136
Government Bond 18,151,136 18,151,136
Current assets 320,225,136 307,505,318

Inventory 5 81,256,256 72,892,039
Accounts Receivable 6 81,504,862 75,507,808
Advance, Deposits & Pre-Payments 7 148,632,645 149,287,732
Cash & Cash Equivalents 8 8,831,373 9,817,739
Current liabilities & provisions 47,764,298 37,338,733

Sundry Creditors 9 2,750,969 3,487,936
Short Term Bank Loan 10 22,455,235 11,795,183
Inter Company Payable 11 - 140,363
Provision for WPPF and Welfare Fund 12 12,183,200 10,910,145
Share Application Money 13 5,764,218 6,467,514
Provision for Income Tax 1,589,020 2,172,866
Accrued Expenses 14 3,021,656 2,364,726
Net current assets 272,460,838 270,166,585

Net assets 921,073,443 878,651,035
Shareholders' equity 914,071,145 873,023,829

Share Capital 15 542,080,000 492,800,000
Share Premium 130,731,200 130,731,200
Revaluation Reserve 16 106,910,294 107,994,533
Retained earnings 17 134,349,650 141,498,096
Non-current liabilities 7,002,298 5,627,206
Deferred Tax Liability 18 7,002,298 5,627,206
Liabilities & shareholders' equity 921,073,443 878,651,035
The annexed notes 1 to 27 form an integral part of these financial statements.

ANNUAL REPORT-2014
Chairman Managing Director Company Secretary

Signed in terms of our separate report of ven date annexed
Place : Dhaka Ahmed Zaker & Co.

Dated : 29 April 2015 Chartered Accountants
26
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2014
Taka Taka
Notes
2014 2013
Net Sales Revenue 19 467,795,558 432,422,513

Cost of Goods Sold 20 (367,381,298) (344,307,463)
Gross profit 100,414,260 88,115,050
Operating expenses (52,190,674) (38,221,618)
Office & Administrative Expenses 21 (29,541,019) (22,540,141)

Marketing & Distribution Expenses 22 (22,649,655) (15,681,477)
Profit from operation 48,223,587 49,893,432
Financial Expenses 23 (3,294,201) (2,152,524)

Non Operating Income 24 1,106,867 2,150,640
46,036,253 49,891,548
Contribution to WPPF and Welfare Fund (2,301,813) (2,494,577)
Net Profit before income tax 43,734,440 47,396,971
Provision for Income Tax 25 (2,687,126) (3,596,429)
Net profit after income tax 41,047,314 43,800,542
Earnings per share (Basic) 26 0.76 0.89
Earnings per share (Diluted) 0.76 0.81

ANNUAL REPORT-2014

Place : Dhaka Ahmed Zaker & Co.

27
ANNUAL REPORT-2014

STATEMENT OF CHANGES IN EQUITY
Share Capital Share Premium Revaluation Reserve Retained Earnings Total

Particulars
Taka Taka Taka Taka Taka
Balance at 01 January 2013 448,000,000 130,731,200 109,112,305 141,859,507 829,703,012

Prior year adjustment (Income tax expense 2012) - - - (479,725) (479,725)
Bonus Share Issue 44,800,000 - - (44,800,000) -
Net Profit after tax for the year - - - 43,800,542 43,800,542
Depreciation charged on revalued amount - - (1,117,772) 1,117,772 -
Balance at 31 December 2013 492,800,000 130,731,200 107,994,533 141,498,096 873,023,829
28
Balance at 01 January 2014 492,800,000 130,731,200 107,994,533 141,498,096 873,023,828
Prior year adjustment (Income tax expense 2012) - - - -
Bonus Share Issue 49,280,000 - - (49,280,000) -
Net Profit after tax for the year - - - 41,047,314 41,047,314
Depreciation charged on revalued amount - - (1,084,239) 1,084,239 -
Balance at 31 December 2014 542,080,000 130,731,200 106,910,294 134,349,650 914,071,144

Place : Dhaka
Ahmed Zaker & Co.
STATEMENT OF CASH FLOWS
Taka Taka
2014 2013
A. Cash flows from operating activities
Collection from Sales 461,798,504 424,994,497
Cash Paid to Suppliers, Employees and Others (391,084,325) (362,854,292)
Income Tax paid (2,393,766) (218,866)
Other Income 1,106,867 2,150,640
Net cash generated from operating activities 69,427,280 64,071,979
B. Cash flows from investing activities
Purchase of Fixed Assets (80,230,039) (68,766,849)
Construction WIP - 450,000
Purchase of Intangible Assets - (993,013)
Investment in FDR - 10,292,500
Net cash inflows/(outflows) in investing activities (80,230,039) (59,017,362)
C. Cash flows from financing activities
Share Application Money (703,296) (13,545,779)

Inter-company debts received/(paid)-Constech (140,363) (531,850)
Short Term Loan received/ (Paid) 10,660,052 (4,179,253)
Net cash inflows/(outflows) from financing activities 9,816,393 (18,256,882)
D. Net cash inflows/(outflows) for the year (A+B+C) (986,366) (13,202,265)

E. Cash & cash equivalents at the beginning of the year 9,817,739 23,020,004
Cash & cash equivalents at the end of the year (D+E) 8,831,373 9,817,739

ANNUAL REPORT-2014
Place : Dhaka
Ahmed Zaker & Co.
29
Notes to the financial statements
For the year ended 31 December 2014
1 Corporate History of the Reporting Entity
1.1 Corporate history

Rangpur Dairy & Food Products Ltd. (The Company) was incorporated in Bangladesh on March 06,2004 Vide the
certificate # C-52012(2307)/2004, as a Private Limited Company under The Companies Act 1994. The company is
converted to Public Limited Company from Private Limited Company as at June 24, 2010 and issue of share through
IPO as on date : 13 October 2011.
The principal office of business of the company is situated at 22/19 Khiljee Road, Mohammadpur. Dhaka–1207 and
factory is located at Salaipur, Baldipukur, Rangpur-5460. The Company commenced its commercial production on
14th April 2007.
1.2 Nature of business

To produce or manufactur UHT, pasteurized and flavored milk, ghee, butter, different type of candy and milk products
and marketing the same in the domestic market.
2 Basis of preparation
2.1 Statement of compliance

The financial statements have been prepared in accordance with the requirements of the Companies Act 1994, the
International Accounting Standards (IASs) as adopted by the Institute of Chartered Accountants of Bangladesh (ICAB)
as Bangladesh Accounting Standards (BASs) as well as the other applicable laws and regulations.
This comprises Statement of Financial Position, Statement of Comprehensive Income, Statement of Changes in Equity,
Cash Flow Statement, notes and explanatory materials covering accounting policies.
2.2 Other Regulatory compliances

The Company is required to comply with the following major legal provisions in addition to the Companies Act and
other applicable laws and regulations:
The Income Tax Ordinance 1984
The Income Tax Rules 1984
The Value Added Tax Act 1991
The Value Added Rules 1991
2.3 Basis of measurement

The financial statements have been prepared under the historical cost convention as modified to include the
revaluation of certain property, plant and equipment.
ANNUAL REPORT-2014
2.4 Functional and presentational currency

The financial statements are prepared and presented in Bangladesh Currency (Taka), which is the company's'
functional currency. All financial information presented have been rounded off to the nearest Taka except where
indicated otherwise.
Figures in brackets indicate deductions.
30
2.5 Use of estimates and judgments
The preparation of financial statements requires management to make judgments, estimates and assumptions that
affect the application of accounting polices and the reported amounts of assets, liabilities, income and expenses.
Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing
basis.
2.6 Going concern

The company has adequate resources to continue in operation for the foreseeable future. For this reason the
directors continue to adopt going concern basis in preparing the financial statements. The current credit facilities
and resources of the Company provide sufficient fund to meet the present requirements of its existing business.
2.7 Applicable standards

The following BASs are applicable for the financial statements:
BAS:1 Presentation of Financial Statements

BAS:2 Inventories
BAS:7 Cash Flow Statements
BAS:8 Accounting policies, Changes in Accounting Estimates and Errors
BAS:10 Events after the Balance Sheet Date
BAS:12 Income Tax
BAS:16 Property, Plant and Equipment
BAS:18 Revenue
BAS:19 Employee Benefits
BAS:23 Borrowing Costs
BAS:24 Related Party Disclosures
BAS:25 Accounting for Investments
BAS:33 Earning Per Share
BAS:34 Interim Financial Reporting
BAS:37 Provisions, Contingent Liabilities and Assets
BAS:38 Intangible Assets
2.8 Reporting period

The period of the financial statements covers from 1st January to 31st December consistently.
3 Significant accounting polices

The specific accounting policies selected and applied by the company’s directors for significant transactions and
events that have material effect within the framework of BAS-1 “Presentation of Financial Statements”, in preparation
and presentation of financial statements have been consistently applied throughout the year and were also
consistent with those used in earlier years.
For a proper understanding of the financial statements, these accounting policies are set out below in one place as
prescribed by the BAS-1 “Presentation of Financial Statements”. The recommendations of BAS-1 relating the format of
financial statements were also taken into full consideration for fair presentation.
ANNUAL REPORT-2014
31
3.1 Financial instruments
Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, short term
finance and other payables.
3.2 Property, plant and equipment
3.2.1 Recognition and Measurement

These are capitalized at cost of acquisition and subsequently stated at cost or valuation less accumulated
depreciation and impairment losses. The cost of acquisition comprises of purchase price, including import duties
and non-refundable Taxes and any directly attributable cost of bringing the assets to its working condition for its
intended use.
On retirement or otherwise disposal of fixed assets, the cost and accumulated depreciation are eliminated and any
gain or loss on such disposal is reflected in the income statement which is determined with reference to the net
book value of assets and the net sales proceeds.
3.2.2 Subsequent costs

The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the
item if it is probable that the future economic benefits embodied within the part will flow to the Company and its
cost can be measured reliabl. The costs of the day-to-day servicing of property, plant and equipment are recognized
in the Income Statement as incurred.
3.2.3 Fixed Assets and Depreciation
No depreciation is charged on land & land development. Depreciation on all other fixed assets is computed using the
reducing balance method so as to write off the assets over their expected useful life.
Half year’s depreciation has been charged on additions irrespective of the date when the related assets are put into
use.
After considering the useful life of assets as per BAS-16, the annual depreciation rates have been applied as under
which is considered reasonable by the management:
Factory Building 3%
Furniture & Fixture 10%
Vehicles 10%
Plant & Machinery 10%
Electrical Installation 10%
Office Equipment 10%
ANNUAL REPORT-2014
Factory Equipment 10%

Generator 5%
Shop Sign 30%
32
3.2.4 Intangible asset
An Intangible asset is recognized if it is probable that the future economic benefits that are attributable to the asset
will flow to the entity and the cost of assets can be measure reliably. Intangible assets have been shown at cost less
amortization as per BAS-38 "Intangible Assets" and any impairment loss.Amortization has been charged on
straight-line method. Amortization on addition of assets has been charged from the date of purchase. Amortization
period is 10 years.
3.2.5 Capital work-in-progress

Property, plant and equipment under construction/acquisition is accounted for as capital work-in-progress until
construction/acquisition is completed and measured at cost.
3.3 Revenue recognition

Revenue from the sale of goods is measured at fair value of the consideration received or receivable. Revenue from
sale of goods is recognized in the income statement when goods are delivered from factory godown and delivery
challan is issued to the customer. This is considered to be consistent with BAS -18.
3.4 Inventories
Inventories are valued in accordance with BAS-2 (Inventories) at the lower of cost and net realizable value. The cost
of finished goods comprises raw materials, direct labour, other direct and other related production overheads (based
on normal capacity) and related depreciation. Net realizable value is based on estimated selling price in the ordinary
course of business less any further costs expected to be incurred to make the sale.
Category Basis of Valuation
Finished Goods At the lower of cost

or
Net realizable value. The cost includes allocation of production overheads that relate
to bringing the inventories to their present condition and location.
Raw Materials At the lower of weighted average cost

or
net realizable value.
Materials-in-transit At cost including related charges.
3.5 Accounts receivables

Receivables are carried at original invoice price. Provision for bad debts are calculated, on a case by case basis after
review of the aging schedule and revised every quarter, when any specific risk arises relating to the collectibility the
ANNUAL REPORT-2014
amount is written off.
33
3.6 Cash and cash equivalents
Cash in hand and cash at banks have been considered as Cash and Cash Equivalents for the preparation of these
financial statements, which were held and available for use by company without any restriction and there was
insignificant risk of changes in value of the same.
3.7 Cash Flow Statement

Cash Flow Statement is prepared in accordance with BAS-7 “Statement of Cash Flows” and the cash flows from the
operating activities have been presented under direct method.
3.8 Investments
Income on Investment is recognized on accrual basis.
3.9 Borrowing Costs

Financial Expenses (Borrowing Costs) incurred during the year was recognized as revenue expenses in accordance
with BAS-23 “Borrowing Cost”. Borrowing costs relating to property, plant and equipment upto the period of
completion of erection are capitalized, and those for the subsequent period is charged to revenue.
3.10 Accrued Expenses and Other Payables

Liabilities are recognized for the goods and services received, whether paid or not for those goods and services.
Payables are not interest bearing and are stated at their nominal value.
3.11 Advances, deposits and prepayments

Advances are initially measured at cost. After initial recognition advances are carrided at cost less deductions,
adjustments or charges to other account heads such as PPE or inventory etc.
Deposits are measured at payment value.

Prepayments are initially measured at cost. After initial recognition prepayments are carried at cost less charges to
Income Statement.
3.12 Responsibility of the Preparation and Presentation of the Financial Statements
The Board of Directors are responsible for preparing and presenting the financial statements in accordance with BAS
and other applicable laws including adequate disclosures, who approved and authorized for issue of this financial
statements.
3.13 Event after the Balance Sheet Date

In compliance with the requirements of BAS 10: Events After the Balance Sheet Date, post balance sheet events that
provide additional information about the company's position at the balance sheet date are reflected in the financial
statements. Events after the balance sheet date that are non adjusting events are disclosed in the notes when
material.
ANNUAL REPORT-2014
34
3.14 Provisions
In accordance with the guidelines as prescribed by BAS-37: Provisions, Contingent Liabilities and Contingent Assets,
provisions are recognized in the following situations:
a. when the company has an obligation ( legal or constructive) as a result of past events;
b. when it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation; and
c. reliable estimates can be made of the amount of the obligation.
3.15 Related party transactions

All the related party transactions have been accounted for, considering these on arms’ length basis. The name of
these related parties, nature of these transactions and their total value have been set out in accordance with the
provision of BAS-24: Related party disclosure.
Disclosures of related Parties' transactions under BAS 24:
Name of the Party Relationship Nature of Transaction Balance

Transaction Volume Outstanding
(in Taka) (in Taka)
Concrete & Steel Sister Providing Working 140,363 -

Technologies Ltd. Concern Capital Finance
The nature of the transaction was "Providing of working capital finance" for which no agreement was made between
the parties and no interest payments were negotiated in this regard.
3.16 Income Taxes

a) Current Tax
As per SRO No.238- law-Income Tax/2011; Dated 6 July 2011 the section 44(1) and 6th schedule , Part-A , Para 34
omitted and imposed Income Tax @ 5% on the Income of Dairy firm.
As per SRO No.208- law-Income Tax/2013; Dated 1 July 2013 reduced Income Tax from 5% to 3% on the Income of
Dairy firm.
b) Deferred Tax
The company has adopted deferred tax during the year under review in compliance with the provisions of
Bangladesh Accounting Standard (BAS-12) "Income Taxes". The company's policy of recognition of deferred tax
assets/ liabilities is based on temporary differences (Taxable or deductable) between the carrying amount (Book
ANNUAL REPORT-2014
value) of assets and liabilities for financial reporting purposes and its tax base and accordingly deferred tax income/
expenses has been considered to determine net profit after tax and Earning Per Share (EPS).
35
3.17 Earnings Per Share
This has been calculated in compliance with the requirements of BAS 33: Earnings Per Share by dividing the basic
earnings by the weighted average number of ordinary shares outstanding during the year.
Basic earnings represent earnings for the period attributable to ordinary shareholders. As there was no preference
dividend, minority interest or extra ordinary items, the net profit after tax for the year has been considered as fully
attributable to the ordinary shareholders.
3.18 Employment Benefit Schemes

The company recognizes a provision for Workers' Profit Participation (WPPF) and Welfare funds @ 5% of net profit
before tax as per Labour Act 2006.
3.19 Comparative Information and Rearrangement Thereof
Comparative information has been disclosed for all numerical information in the financial statements and also the
narrative and descriptive information where it is relevant for understanding of the current period's financial
statements.
Comparative figures have been re-arranged wherever considered necessary to ensure better comparability with the
current period without causing any impact on the profit and value of assets and liabilities as reported in the financial
statements.
4 Additional information on Financial Statements:
4.1 Responsibility for the preparation and presesntation of Finanacial Statements
The Board of Directors and Management of the company are responsible for the preparation and presentation of
Financial Statements under section 183 of the Companies Act 1994, and Corporate Governance gridline issued by
the Bangladesh Securities and Exchange Commission as per the provision of "The Framework for the preparation
and presentation of Financial Statements" issued by the International Accounting Standards Committee (IASC).
4.2 Authorization date for issuing Fianancial Statements

"The Financial Statements were authorised by the Board of Directors on April 29, 2015 forissue after the completion
of review."
4.3 Components of the Financial Statements

According to BAS-1 "Presentation of Financial Statements" the complete set of Financial Statement includes of the
following components
1) Statement of Financial Position as at December 31, 2014

ANNUAL REPORT-2014
2) Comprehensive Income Statement for the year ended December 31, 2014
3) Statement of Changes in Equity for the year ended December 31, 2014
4) Statement of Cash Flows for the year ended December 31, 2014
5) Explanatory notes to the Financial Statements
36
Rangpur Dairy & Food Products Limited
SCHEDULE OF FIXED ASSETS
Note-4
a) Cost :
Cost Depreciation
Written down
Rate of Dep. Charged
Particulars Balance as on Addition Balance as on Balance as on Balance as on value as on
(%) during the
01.01.14 during the year 31.12.14 01.01.14 31.12.14 31.12.14
year
Land & Land Development 121,120,374 3,832,749 124,953,123 - - - - 124,953,123
Factory Building 133,506,274 2,152,470 135,658,744 3% 12,806,405 3,653,283 16,459,688 119,199,056
Furniture & Fixture 4,880,413 2,743,231 7,623,644 10% 2,274,589 397,744 2,672,333 4,951,311
Vehicles 40,970,945 7,666,000 48,636,945 10% 10,405,996 3,439,795 13,845,791 34,791,154
Plant & Machinery 395,730,283 60,029,636 455,759,919 10% 124,077,016 30,166,809 154,243,825 301,516,095
Electrical Installation 21,062,295 334,827 21,397,122 10% 9,112,742 1,211,697 10,324,439 11,072,683
Office Equipment 3,181,938 2,055,734 5,237,672 10% 1,007,896 320,191 1,328,087 3,909,585
Factory Equipment 28,746,329 2,339,502 31,085,831 10% 6,139,354 2,377,673 8,517,027 22,568,804
Generator 5,753,010 212,500 5,965,510 5% 1,213,119 232,307 1,445,426 4,520,084
Shop Sign 876,595 974,220 1,850,815 30% 496,222 260,245 756,467 1,094,348
37
Total as on 31.12.2014 755,828,456 82,340,869 838,169,325 167,533,339 42,059,743 209,593,082 628,576,243
Cost Depreciation Written down

Particulars Balance as on Addition Accretion during Balance as on Balance as on Charged during Balance as on value as on
01.01.13 during the year the year 31.12.13 01.01.13 the year 31.12.13 31.12.13
Total as on 31.12.2013 687,061,607 68,766,849 - 755,828,456 129,175,226 38,358,113 167,533,339 588,295,117
Allocation of Depreciation:
Admin 4,205,974
Factory 37,853,768
42,059,743
Revaluation Reserve/Surplus :
Depreciation charged on Revalued Amount
Asset Value Revaluation Revaluation
Revalued Revaluation
Description Before Reserve as as at Balance as on Charged during Balance as on Reserve as at 31
Amount (Tk.) Surplus (Tk.)
Revaluation (Tk.) 1st January2014 01.01.14 the year 31.12.14 December 2014
Land and Land Development 33,485,923 105,339,154 71,853,231 71,853,231 - - - 71,853,231

Building 54,287,026 91,546,100 37,259,074 36,141,302 1,117,772 1,084,239 2,202,011 35,057,063
Total 87,772,949 196,885,254 109,112,305 107,994,533 1,117,772 1,084,239 2,202,011 106,910,294
ANNUAL REPORT-2014
Taka Taka
2014 2013
5 Inventory :
Raw Materials 58,155,842 53,580,245
Finished Goods 19,627,120 16,351,444
Work In Progress 3,298,118 2,299,071
Stationary 175,176 661,279
Total 81,256,256 72,892,039
6 Accounts Receivable:
3-5 Shopping Mall (Uttara) 41,975 52,743
Aleya Store 353,786 266,778
Aman Super Store 65,127 76,288
Alif Enterprise 2,460,030 2,002,603
Anando Bazar 13,944 6,808
Anik Enterprise 2,371,251 2,068,663
Anjuma Enterprise 1,530,214 1,455,797
Asraf Traders 2,733,027 2,373,499
Best Buy (Khilket) 4,553 5,483
Captain World 17,401 17,401
Carefamily 18,398 21,838
Carefamily (Mohammadpur) 14,815 42,137
CSD Bangladesh 74,764 87,787
Depot Sales 880,527 593,903
Dominus Pizza (721) 81,294
Dr. Naim 11,612 44,263
Easha & Tisha 2,768,361 2,481,843
Faisal Ent. 3,274,964 4,572,440
Family Mart 22,359 29,358
Family Needs 9,279 9,279
Family World - 1,510
Friends Traders 2,373,222 2,023,146
Gini Enterprise 3,182,435 4,058,253
Gmart Super Market Ltd 17,939 53,506
Haat Bazar 613 19,672
Huq Traders 2,897,522 2,668,261
John Enterprize 4,193,355 4,468,876
Kamal Enterprise 293,403 218,106
Levender 9,428 15,052
Mina Bazar (DM) 480,693 423,672
Mini Mall 17,416 17,416
Minu Bazar 17,832 21,426
Mr. Abdus Sabur (NCC Bank Ltd.) 7,954 38,250
- -
Mr.Shah Alam (HO) 2,371,097 2,258,361
Mr.Shawkat Ali (Banani) 29,054 91,684
Nandan Mega Shop (DM) 10,480 28,379
ANNUAL REPORT-2014
Nandan Mega Shop (G2) 16,836 16,836

Nandan Mega Shop (Uttara) 24,748 24,962
- -
Nasrin Traders (Rng) 8,785,811 11,408,214
NCC (Motijheel) - 33,800
NCC (DM) 1,120 580
38
Taka Taka
2014 2013
Prince Bazar (Mirpur 1) 34,965 37,240
Prince Bazar (MP) 14,421 18,116
Prince Bazar (Ssamoly) 7,625 -
Prova Enterprise 3,045,350 2,778,416
Rahimafrooz SS(Ctg) 99,066 75,942
Rahimafrooz SS(DM) 11,284 41,928
Rahimafrooz SS(GL) 9,685 17,765
Rahimafrooz SS(MB) 46,897 50,612
Rahimafrooz SS(MP) 32,970 18,239
Riya Enterprise 2,831,311 2,587,408
Shishir Trading 5,135,740 6,503,803
SM Enterprize 4,187,775 7,189,612
Southeast Bank (Banani) 10 -
Shwapno Shopping Mall 172,792 146,652
Tamanna Distribution 1,845,664 2,007,533
Tasdid Enterprise 2,149,593 1,887,748
Tokeyo Super Shop 19,547 19,547
Toma Chemical 4,493,254 5,116,943
Trust Family Needs 26,751 24,244
Unimart(Gulshan) 8,500 10,167
Mojo Canteen 3,465 -
2 No. Canteen 4,100 -
Academia School Canteen 8,627 -
Anurag Super Shop 11,965 -
AR Super satore 4,131 -
Bangla Bazer 36,475 -
Barista Labaza Coffee Shop 6,090 -
Bhai Bhai Ent 1,459,705 -
Big Bazer 17,343 -
Dider Super shop 9,076 -
Ginious Shoping Centre 4,148 -
Haques Mart 12,443 -
Kafaproroca Canteen 4,590 -
Kisibid Bazer (Kazi para) 9,969 -
Kisibid Bazer (Mirpur 10) 8,444 -
Kutom Bari Res 5,340 -
Maayer Doya Store 1,533,925 -
Mapleleaf Int School 5,160 -
Mehadi Mart 29,658 -
Meraz Store 1,451,844 -
Mohammadia Metal 1,043,403 -
Nandonik Bazar 16,306 -
Nayem Enterprise 1,429,447 -
ANNUAL REPORT-2014
New Bazar 16,790 -

Pick and Pay 19,845 -
PSI - Canteen 5,527 -
Rabeya Traders 1,408,828 -
Radwon Ent 1,191,475 -
Rahimafrooz 8 Outlet 236,868 -
Sad Musa City Centre 8,663 -
39
Taka Taka
2014 2013
Simul Enterprise 1,187,742 -
Soop N Save Ltd 12,224 -
Sk Enterprise 1,645,762 -
Trust Family Needs 2 7,555 -
Daily Super shop 6,120 -
Total 81,504,862 75,507,808
a) Ageing of the above receiables is given Below:
1 to 3 3 to 6 6 to 9
1 Year and above Total
Months Months Months
39,061,856 39,643,871 2,660,646 138,489 81,504,862
39,061,856 39,643,871 2,660,646 138,489 81,504,862
b) Receivables are unsecured but considered good.

c) There is no debt due by or to directors or other officers of the company.
d) There is no debt due by the directors and officers within the common management of the company.
7 Advance, Deposits & Pre-Payments:

Advance against Rent 661,085 661,085
Advance to Chilling Centre 37,906,168 38,448,061
Advance against Office Decoration - 2,100,000
Advance to Parties (7.01) 19,787,016 15,687,885
Advance for Machinery (7.02) 80,130,538 66,679,342
Advance to Powertrade Associates Ltd. - 16,162,026
AIT 9,842,567 9,344,062
Prepaid Insurance - -
Security Deposit 305,271 205,271
Total 148,632,645 149,287,732
a) All Advances & Deposits are considered good and recoverable by the management.
b) There is no amount due from Directors or officers of the Company.
c) There is no advances due by or to within the common management of the company.
7.1 Advance to Parties:

Abdur Razzak & Brothers 479,000 479,000
Advance to Fish Project 53,853 53,853
Ajanta Handicraft 50,000 50,000
Ava Enterprise 315,000 315,000
Badal Enterprise 1,370,000 4,795,000
Bengal Electric 246,000 246,000
Best Business Bond 250,000 165,000
Brac Printing Pack 132,874 130,096
BSMC 400,000 400,000
ANNUAL REPORT-2014
Crab 225,000 225,000

Data Biz 70,000 70,000
DITF 1,673,536 951,732
Digital Engravers 163,623 197,115
Insurance Premium Advance 51,233 -
Intertek Bangla Limited 30,000 30,000
Ifad Autos 259,860 259,860
40
Taka Taka
2014 2013
LC Margin 1,546,959 1,052,153

Meghna Automation 295,000 235,000
Moonsoon admedia 60,000 60,000
Mozomdur International 17,000 17,000
Mr. Gulzar Hossain 1,033,198 1,033,198
- -
Mr. Salam 1,186,200 1,186,200
Mr.Abdul Hamid (SPO) 561,620 561,620
Plus Distribution 1,750,000 1,750,000
Rahim Afroz 396,000 212,000
Safety Engineering 45,000 45,000
S K Builder 160,000 160,000
Security Money (Cilling) 143,118 177,118
Shahara Power 770 -
Supersign Cable 632,090 632,090
Thai collection 160,000 160,000
Trade Fair 38,850 38,850
Brac Dairy 450,000 -
Advance VAT 1,365,569 -
Northern Agriculture 1,492 -
AB Woven Bag 163,000 -
Pacific Int. 53,500 -
World Engineering 43,895 -
Moon soon and Son 26,592 -
GBC Products 155,187 -
Maritime 266,250 -
Unified Packaging 5,737 -
Akik International 45,090 -
Raven Food 332,260 -
Janani Traders 8,160 -
Rodela Food 150,000 -
Khan Engraving 34,500 -
Bengal Polymers 190,000 -
Saheen Enterprise 2,700,000 -
Total 19,787,016 15,687,885
7.2 Advance for Machinery:

Basic Engineering 25,010,000 19,717,184
Chowdhury Enterprise 3,315,500 1,200,500
Ess Engineering and Suport service 2,883,032 2,883,032
JS Builders 6,592,190 2,592,190
Santek 31,887,454 31,287,980
Sincos Engineers Ltd. 10,406 500,000
Sumon Engineering 4,458,456 4,458,456
United Engineering 5,973,500 4,040,000
80,130,538 66,679,342
ANNUAL REPORT-2014
Aging of Advance & Deposits for 2014

Due to 1-6 months 40,168,406
Due to 6-12 months 22,766,100
Above 1 year 17,196,032
Total 80,130,538
41
Taka Taka
2014 2013
8 Cash & Cash Equivalents :
Cash in Hand (8.01) 7,149,532 8,341,744
Cash at Bank (8.02) 1,681,841 1,475,995
Total 8,831,373 9,817,739
8.01 Cash in Hand
Cash in Hand ( Head Office) 7,139,241 7,225,591
Cash in Hand ( Factory) 10,291 1,116,153
Total 7,149,532 8,341,744
8.02 Cash at Bank
Cash at Bank IBBL SND A/c -69 176,066 (43,933)
Cash at Bank PBL SND A/c 441 83,310 56,427
Cash at Bank NCC CD A/c (Factory) 416,357 5,622
Cash at Bank NCC CD A/c 1,306 189
Cash at Bank NCC STD A/C - 141 624,503 97,761
Cash at Bank NCC STD - 047 4,627 277
Cash at Bank NCC STD A/C -760 (518,317) (24,873)
Cash at Bank DBBL 85,047 -
Cash at Bank Union Bank 77,313 -
Cash at Bank NCC FC A/C- 0102020601(USD) 680,793 1,374,699
Cash at Bank NCC FC A/C- 0402020046 (EURO) 25,626 425
Cash at Bank NCC FC A/C- 0202020021 (GBP) 25,210 9,401
Total 1,681,841 1,475,995
9 Sundry Creditors :
Bangla Track 75,000 15,000
BBL Packaging 863 863
Dipa Food 223,049 -
ESS paper & Packaging 41,566 19,966
Expressions Ltd 1,500 -
Fair Sign 41,120 41,120
Faridpur Rice Agency 164,640 97,840
Fortune Advertising 77,750 77,750
IBS Metal 181 181
Kalyar Replica Ltd. - 186,902
Manikgonj Color Process & Print - 498,776
MR Packaging 162,845 162,845
Nitol Motors Ltd. - 884,043
Polycon 346,395 533,330
Printo Pack Cyndicate 2,590 2,590
Poly cord ltd 85,764 -
RK Trading Agencies - 35,000
RFL Plastic Ltd 2,220 -
SATCOM IT Ltd - 366,507
Mehadi Enterprise 940 -
Nitol Motors Ltd. 32,550 -
ANNUAL REPORT-2014
42
Shapla Foods 162,548 -
Safa Traders 184,805 358,125
Star Seven Printing and Packaging 95,520 -
Tarewq Traders 14,674 -
M H Motors 710,044 -
National Art Press 30 -
Shahara Power - 65,330
SS Metal 152,368 116,844
Unified Packaging - 16,357
Varosa Agro 172,007 8,567
Total 2,750,969 3,487,936
a) Sundry creditors represents regular suppliers of raw materials, stationery and others.
b) All creditors were paid on regular basis.
10 Short Term Bank Loan :

NCC Bank Limited (Cash Credit) (Note-10.1) 15,581,486 10,397,896
NCC Bank Limited (LTR) (Note-10.1) 6,873,749 1,397,287
Total 22,455,235 11,795,183
10.1 NCC Bank Limited (Cash Credit) & (LTR)
Interest:
16% p.a. subject to revision from time to time.
Securities:
a) Hypothecation of Stock of raw materials, work-in-process and finished goods duly insured under
Bank's mortgage clause.
b) Registered mortgage of 246 decimal project land alongwith factory building and other stucture
at Vill: salaipur, Baldipukur, Rangpur Valuing Tk. 376.10 lac (approx.)
c) Hypothecation of plant & machinery valuing Tk. 1292.26 lac duly insured under Bank's mortgage
clause.
d) Post dated cheque(s) covering LTR.
11 Inter Company Payable

Opening Balance 140,363 672,213
Add: During the year - 3,528,150
140,363 4,200,363
Less: Refund during the year (140,363) (4,060,000)
Closing Balance - 140,363
The above transactions have made with Concrete & Steel Technologies Ltd.
12 Provision for WPPF and Welfare Fund
Opening Balance 10,910,145 8,415,568
Add: During the year 2,301,813 2,494,577
Payment for the year (1,028,758) -
ANNUAL REPORT-2014
Closing Balance 12,183,200 10,910,145
This Balance represents payable for WPPF & Welfare Fund which is being carried without any
adjustments or payments
43
13 Share Application money
General Public 5,032,589 5,082,989
Non- Resident Bangladeshi 731,629 1,384,525
Total 5,764,218 6,467,514
This represents subscription mony received from IPO which is ready for refund. They will be refunded
whenever claimed by the applicants.
14 Accrued Expenses
Audit fee 115,000 115,000
Electricity Bill 320,444 369,848
Salary & Allowances 2,475,095 1,763,130
Other Liabilities 111,117 116,748
Total 3,021,656 2,364,726
All accrued Expenses were paid on regular basis;
15 Share Capital
15.1 Authorised Capital :
100,000,000 Ordinary Shares of Tk. 10/- each 1,000,000,000 1,000,000,000
15.2 Issued, Subscribed, Called-up & Paid-up Capital : Tk. 542,080,000
54,208,000 Ordinary Shares of Tk. 10/- each 542,080,000 492,800,000
The Shareholding position of the Company are as under :
Name Status % No. of Shares Amount

1 Mr. S.M.Fakharuzaman Chairman 10.76 5,832,671 58,326,710
2 Mr. M.A.Kabir MD & Director 10.76 5,832,671 58,326,710
3 Mrs. Sultana Parvin Sponsor 1.25 678,629 6,786,290
4 Mr Abdul Awal Sponsor 2.00 1,084,160 10,841,600
5 Mr Amitabha Bhowmik Sponsor 0.30 162,624 1,626,240
6 Md. Mijanur Rahman Sponsor 1.65 894,432 8,944,320
7 Md. Yer Ali Sponsor 0.30 162,624 1,626,240
8 Mr Shah Fahad Zaman Sponsor 0.90 487,872 4,878,720
9 Public Issue Public 72.08 39,072,317 390,723,170
Total 100.00 54,208,000 542,080,000
Distribution schedule of each class of equity security setting out the number of holders and
percentage has been given below
Share Holding Range Percentage (%) No. of share holders Share

1-499 shares 7.10 20,660 3,848,527
500-5,000 shares 12.28 3,562 6,654,763
5,001-10,000 shares 8.03 580 4,352,559
10,001-20,000 shares 8.68 317 4,704,879
ANNUAL REPORT-2014
20,001-30,000 shares 4.98 109 2,698,416

30,001-40,000 shares 3.00 46 1,627,919
40,001-50,000 shares 2.69 32 1,456,927
50,001-100,000 shares 8.00 60 4,338,048
100,001- 1,000,000 shares 19.51 41 10,576,460
1,000,001- 1,000,000,000 shares 25.73 4 13,949,502
Total 100.00 25,411 54,208,000
44
16 Revaluation Reserve
The revaluation reserve include Land & Land Development and Building of the company.The revalued
amount as per valuation report of Online Survey & Inspection Company , a licensed certified
surveyor, Government of Bangladesh, dated : 20 April 2010 based on the Financial Statements as on
31 December 2009. The re-valuation surplus amount was Tk. 109,112,305 as on 31 December 2010.
After adjustment of depreciation of Tk. 1,084239 in the year 2014, the re-valuation surplus stands
amount of Tk. 106,910,294 as on 31 December 2014 .Details are given in Schedule of fixed assets .
17 Retained Earnings :
Opening Balance 141,498,097 141,859,507
Prior year adjustment (Income tax expense 2012) - (479,725)
42,131,553 44,918,314
Add: Net Profit/(Loss) after Tax 41,047,314 43,800,542
Depreciation charged on revalued amount 1,084,239 1,117,772
Less: Issue of Bonus share for 2013 (49,280,000) (44,800,000)
Retained Earnings for ther year 134,349,650 141,498,097
18 Deferred Tax Liability

Opening Balance 5,627,206 4,203,643
Add/(Less): Deferred Tax expenses this year 1,375,092 1,423,563
Closing Balance 7,002,298 5,627,206
19 Net Sales Revenue :

Gross Sales Revenue 468,750,130 433,252,253
Less : Sales Return (23,404) (274,740)
468,726,726 432,977,513
Less : VAT (931,168) (555,000)
Net Sales Revenue 467,795,558 432,422,513
ANNUAL REPORT-2014
45
Taka Taka
2014 2013
20 Cost of Goods Sold:
Raw materials Consumed 20.1 288,835,937 274,699,966
Wages 2,258,918 1,645,026
Power Cost 20.2 25,589,545 24,524,849
Prime Cost 316,684,400 300,869,841
Add: Manufacturing Overhead 20.3 54,971,621 45,935,599
Cost of Production 371,656,021 346,805,440
Add: Opening Work-In-Progress 2,299,071 2,901,791
Total Goods In Process 373,955,092 349,707,232
Less: Closing Work-In-Progress 3,298,118 2,299,071
Cost of Goods Manufactured 370,656,974 347,408,161
Add: Finished Goods (Opening) 16,351,444 13,250,746
Cost of Goods Available for Sale 387,008,418 360,658,907
Less: Finished Goods (Closing) 19,627,120 16,351,444
Cost of Goods Sold 367,381,298 344,307,463
20.1 Raw Materials Consumed :

Opening stock 53,580,245 52,739,881
Add: Purchase 293,411,534 275,540,330
Raw materials available for use 346,991,779 328,280,211
Less: Closing Stock 58,155,842 53,580,245
Raw materials Consumed 288,835,937 274,699,966
20.2 Power Cost :

Electricity Charges 5,848,117 3,922,739
Furnace Oil - -
Fuel & Diesel 19,705,588 20,553,620
Gas Charges 35,840 48,490
Total 25,589,545 24,524,849
20.3 Manufacturing Overhead :

Festival Bonus 1,503,528 857,168
Entertaiment 227,852 127,495
Chilling Center Expenses 389,309 -
- -
Factory Maintenance 57,341 186,747
Farming Expenses 4,330 6,036
Generator Maintenance 199,460 436,933
Internet Bill 196,581 94,470
Medical Expenses 47,237 11,958
Repair & Maintenance 753,273 454,240
Misc Expenses - 2,000
ANNUAL REPORT-2014
Depreciation 37,853,768 34,522,301

Public Relation 32,700 32,450
Total 54,971,621 45,935,599
46
Taka Taka
2014 2013
21 Office & Administrative Expenses :
Director Remuneration 2,400,000 2,400,000
Festival Bonus 2,255,292 1,285,752
Conveyance 183,546 168,711
Entertaiment 341,778 191,243
Audit Fee 115,000 115,000
Electricity Bill 435,094 141,108
Donation & subscription 200 10,100
Fees & Charges 605,304 174,841
Fine & Penalties 105,089 138,925
Fuel & Oil 3,969,046 3,349,604
General Expenses 1,370,441 1,219,300
Iftar Bill 38,593 48,100
Meeting Fee 14,000 -
Mobile Bill 880,147 628,839
Newspaper 3,392 3,068
Office Maintenance 78,183 30,390
Office Rent 845,004 505,296
Photocopy Bill 4,525 4,172
Postage Talex courior 138,977 181,675
Printing & Stationary 989,855 1,278,299
Repair & Maintenace 445,995 189,959
Renewal Fee 717,078 262,929
Amortization of Software 152,971 205,301
Telephone 12,229 17,224
Tours & Travel 675,520 652,374
Annual Listing Fee 256,000 240,150
Water Bill 36,992 15,921
Design Bill 268,850 159,550
A.G.M.Expenses 556,332 292,559
Garage Rent - 44,245
Picnic 157,562 -
Fooding Allowance 302,574 119,648
Computer Accessories 126,355 28,146
Depreciation 4,205,974 3,835,811
Total 29,541,019 22,540,141
22 Marketing & Distribution Expenses :
TA/DA 5,804,768 3,216,635
Carrying Charges 146,358 238,203
Advertising & Publicity 332,388 165,000
ANNUAL REPORT-2014
Business Promotion 382,300 631,310

Seminar & Workshop 3,067 -
Free Sample 378,750 -
Depot Expenses 276,450 -
Vehicle Maintenace 1,276,532 1,771,855
Incentive 342,800 454,673
Total 22,649,655 15,681,477
47
Taka Taka
2014 2013
23 Financial Expenses :
Interest on Loan 3,187,523 1,983,949
Bank Charges & Commission 106,678 168,575
Total 3,294,201 2,152,524
24 Other Income:
Bank Interest 21,651 1,017,811
Interest of Govt. Bond 866,317 1,041,128
Miscellenous Sale 218,899 91,701
Total 1,106,867 2,150,640
25 Provision for Income Tax :

Current year provision (Note : 25.1) 1,312,033 2,172,866
Deferred Tax expense / (Income) (Note : 25.2) 1,375,092 1,423,563
Total 2,687,126 3,596,429
25.1 Current Year Tax Provision :

Provision on tax has been calculated based on Income Tax Ordinance, 1984 as amended upto
2013 by the Finance Act, considering the allowances and disallowances.
25.2 Deferred Tax Expenses/ (Income) :

Deferred Tax Expenses/(Income) for liability/(asset) has been calculated as per Bangladesh
Accounting Standard 12.
26 Calculation of Basic Earnings Per Share :

Basic Earnings Per Share =
Net Profit After Tax = 41,047,314 43,800,542
Number of Ordinary Shares 54,208,000 49,280,000
= 0.76 0.89
27 Events after Balance Sheet date :
No material events occuring after balance sheet date came to our notice, which could affect the
values reported in the financial statements significantly.
The Board of Directors of Rangpur Dairy and Food Products Limited in its Board meeting held on
29th of April 2015 recommended no dividends for the year 2014
ANNUAL REPORT-2014
48
Rangpur Dairy & Foods Products Limited
22/19, Khiljee Road (3rd floor)
Mohammadpur, Dhaka -1207
Proxy Form
I/We...........................................................................................................................................................................................................................(Name)
of ............................................................................................................................................................................................................................(Address)
being a member of Rangpur Dairy & Foods Products Limited hereby appoint
Mr./Mrs./Miss.................................................….......................................................……………..…………................................................(Name)
of ............................................................................................................................................................................................................................(Address)
as my/our proxy to attend and vote for me/us and on my/our behalf at the 11th ANNUAL GENERAL MEETING of the
Company to be held on Saturday the June 06, 2015 at 11.00 a.m. and or at any adjournment thereof. Signed
this..................day of.....................2015.
Revenue
Stamp
10/=
Signature of Shareholder(s) ………………………………………… Signature of the Proxy: …………………………….
BO ID: ………………………………………………………………...…
No. of Shares held: ………………………………………………………
….……………………………………
Authorized Signature
Rangpur Dairy & Foods Products Limited ………………………………
Signature verified
Note :> The Proxy Form, duly completed, signed and affixed with revenue stamp of Tk. 10.00 must be deposited at the
Registered Office of the Company not later than 72 hours before the time fixed for the meeting. Proxy will be invalid
if not signed and stamped as explained above.
> Signature of the shareholder should match with the Specimen Signature registered with the Company.
………………………………………………………………………………………………………

22/19, Khiljee Road , Mohammadpur, Dhaka -1207
ATTENDANCE SLIP
I/We hereby record my attendance at the 11th ANNUAL GENERAL MEETING of Rangpur Dairy & Foods Products
Limited being held on Saturday the June 06, 2015.
Signature of Shareholder(s) …………………………………………… Signature of the Proxy: ……………………….
Name of Shareholder(s) ………………………………… Name of Proxy…………………………………
BO ID: ………………………………………………………………………..
No. of Shares held: …………………………………………………………………
….……………………………………
Authorized Signature
Note: Please complete the attendance slip and hand it over at the entrance of the meeting venue.

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TABLE OF CONTENTS

Item Page No.

Notice of the Annual General Meeting 04

Massage from the Chairman 06

Massage from the Managing Director 07

Report of the Directors to the shareholder 08-13

Corporate Governance Compliance Status Report 16-19

Certificate on Compliance of Corporate Governance Guidelines 21

Report of the Audit Committee 22

Bangla version of Report of the Directors to the shareholder 23-24

Auditors’ Report to the shareholder 25

Statement of Financial Position 26

Statement of Comprehensive Income 27

Statement of Changes in Equity 28

Statement of Cash Flows 29

Notes to the Financial Statements 30-48

Proxy Form and Attendance Slip 49

Mr. M.A.Kabir Managing Director & Director

Mr. Md. Rezaul Karim Independent Director

Mr. Ahmed Hossain Independent Director

SENIOR EXECUTIVES AND OFFICERS

AUDITORS LEGAL ADVISORS

Dutch-Bangla Bank Limited

Islami Bank Bangladesh Limited

Prime Bank Limited

Union Bank Limited

HEAD OFFICE REGISTERED OFFICE & FACTORY

MAJOR MILESTONES OF THE COMPANY

Dhaka By order of the Board

71th Board Meeting

May Allah bless all of us.

Bismillahir Rahmanir Rahim

With thanks and best regards

(Engr. M.A. Kabir)

Bismillahir Rahmanir Rahim

Review of the operational performance

Year 2014 2013 2012 2011 2010

Year 2014 2013 2012 2011 2010

Earnings per share:

Year 2014 2013 2012 2011 2010

Cost of Goods Sold:

Extra-Ordinary gain or loss:

Risks and concerns:

Brand and Communications

Particulars FY-2014 FY-2013

Thanking you all.

On behalf of the Board ANNUAL REPORT-2014

( M.A. Kabir) (S.M . Fakhar-uz-Zaman)

Name of Directors Meeting attended

1.4(k) (I) Held by Parent/subsidiary/Associated and other related patties Nil

Name Position No. of shares

1.4(k) (III) Held by Executive Nil

Name Position % of shares

Particulars Amount 2014 2013 2012 2011 2010

Revaluation Reserve Taka 106,910,294 107,994,533 109,112,305 109,112,305 109,112,305

Retained Earnings Taka 134,349,651 141,498,096 141,859,507 145,141,846 83,597,189

Non Current Assets Taka 629,084,728 588,803,602 558,844,866 403,710,475 415.166,287

Gross Profit Taka 100,414,260 88,115,050 82,256,049 85,858,521 86,436,554

Operating Income 10.31 11.54 11.40 8.01 17.51

Date: April 09, 2015

The Board of Directors

Certificate on Compliance of Corporate Governance by

Dated: Dhaka Sd/-