Olympic Bangladesh Limited

Balance Sheet
For the year 2019-2020
Amount in BDT
2019
Assets
Non-current Assets
Property, Plant & Equipment 2,754,848,741৳
Intangible Assets -Software ERP 1৳
Right-of-Use Asset (ROU), Net 0৳
Capital Work-in-Progress 1,144,215,357৳
Totla Non-current Assets 3,899,064,099৳
Current Assets
Inventories 1,253,065,390৳
Trade & Other Receivables 211,109,972৳
Advances, Deposits & Pre-payments 970,952,183৳
Investments 4,014,955,674৳
Cash & Cash Equivalents 608,038,640৳
Total Current Assets 7,058,121,859৳
Total Assets 10,957,185,958৳
Equity&Liabilities
Share holder's Equity
Share Capital 1,999,388,860৳
Retained Earnings 5,216,919,766৳
Total Equity 7,216,308,626৳
Non-Current Liabilities(Long)
Long-Term loan - Non- Current Portion 415,266,729৳
Lease Finance - Non- Current Portion 0৳
Deferred Tax Liability 143,975,785৳
Total non-current Liabilities 559,242,514৳
Total Equity & Non - Current Liabilities 7,775,551,140৳
Current Liabilities & Provisions(Short)
Short-Term Loans and Overdraft 1,411,757,914৳
Long-Term Loan-Current Portion 240,191,007৳
Lease Finance-Current Portion 4,949,584৳
Interest Payable 367,531৳
Creditors for Goods 463,198,318৳
Creditors for Services 2,856,018৳
Accrued Expenses 129,827,919৳
Advance Against Sales 246,596,537৳
Liabilities for Other Finance 74,502,706৳
Provision for Current Tax 175,086,506৳
Unclaimed Dividend 205,720,139৳
Employee Benefit Obligations 226,580,639৳
Total Current Liabilities 3,181,634,818৳
Total Liabilities 3,740,877,332৳
Total Equity & Liabilities 10,957,185,958৳

Additional Inputs from notes

Total term loan 655,457,736৳

Accumulated Depreciation
Net Non current Asset
 2020

3,154,940,982৳
1৳ note: after deducting accumulate amortization
48,907,381৳
762,173,394৳
3,966,021,758৳

1,754,377,814৳
361,539,012৳
817,755,640৳
4,227,541,203৳
675,271,818৳
7,836,485,487৳
11,802,507,245৳

1,999,388,860৳
6,242,179,551৳
8,241,568,411৳

200,451,144৳
31,314,817৳
185,897,673৳
417,663,634৳ `
8,659,232,045৳

1,153,021,184৳
379,397,855৳
19,039,088৳
845,829৳
564,234,655৳
8,707,741৳
151,842,589৳
237,997,725৳
106,470,600৳
 66,362,174৳
255,625,820৳
199,729,940৳
3,143,275,200৳
3,560,938,834৳
11,802,507,245৳

579,848,999৳

148,321,125৳
3,817,700,633৳
 Olympic Bangladesh Limited
Income Statement
For the year 2019-20
Amount in BDT
2019 2020
Revenue 13,733,728,376৳ 15,895,037,599৳
(-)COGS 9,185,337,984৳ 10,826,540,639৳
Gross Profit 4,548,390,392৳ 5,068,496,960৳
Operating Expences
Administrative Expenses 323,362,429৳ 358,910,484৳
Selling Expenses 1,716,042,222৳ 2,055,657,417৳
Total Operating Expences 2,039,404,651৳ 2,414,567,901৳
Operating Profit (EBIT) 2,508,985,741৳ 2,653,929,059৳
Net Finance cost (Intrest exp) 194,338,696৳ 171,130,249৳
2,314,647,045৳ 2,482,798,810৳
Other Income 366,579,768৳ 425,800,621৳
Profit /(Loss) for the year 2,681,226,813৳ 2,908,599,431৳
(-)Net changes in fair value of investment
in shares of Listed Companie 2,086,699৳ 3,920,630৳
Earnings before contribution to workers
profit contribution fund 2,679,140,114৳ 2,904,678,801৳
(-)Contribution to workers' profit
participation fund 127,578,101৳ 138,318,038৳

Profit Before Tax (EBT) 2,551,562,013৳ 2,766,360,763৳

Income Tax Expense 679,740,453৳ 741,406,548৳

Net profit after Taxation 1,871,821,560৳ 2,024,954,215৳

Basic & Diluted Earnings Per Share (EPS) 9.36৳ 10.13৳

Number of shares outstanding 199,938,886 199,938,886

Additional Inputs (From notes)

Depreciation Expense 333,347,656৳ 387,810,399৳

Net dividend for the year 811,974,016৳ 844,819,609৳

Retained Earnings 1,059,847,544৳ 1,180,134,606৳
Dividend paid during the year 767,027,360৳ 794,913,928৳
Unclaimed dividend for the year 44,946,656৳ 49,905,681৳
(net dividend -dividend paid during the year)
 Olympic Bangladesh Limited
Balance Sheet(Assumptions)
For the year 2019-2020
Amount in (%)
2019 2020 Average
Assets
Non-current Assets
Property, Plant & Equipment 20.1% 19.8% 20.0%
Intangible Assets -Software ERP
Right-of-Use Asset (ROU), Net
Capital Work-in-Progress 8.3% 4.8% 6.6%
Totla Non-current Assets 28.4% 25.0% 26.7%
Current Assets
Inventories 9.1% 11.0% 10.1%
Trade & Other Receivables 1.5% 2.3% 1.9%
Advances, Deposits & Pre-payments 7.1% 5.1% 6.1%
Investments 29.2% 26.6% 27.9%

Cash & Cash Equivalents

Total Current Assets 51.4% 49.3% 50.3%

Total Assets
Equity&Liabilities
Share holder's Equity

Share Capital

Retained Earnings
Total Equity
Non-Current Liabilities(Long)

Long-Term loan - Non- Current Portion 63.4% 34.6% 49.0%

Lease Finance - Non- Current Portion 64.0% 64.0%
Deferred Tax Liability 21.2% 25.1% 23.1%
Total non-current Liabilities
Total Equity & Non - Current Liabilities
Current Liabilities & Provisions(Short)
Short-Term Loans and Overdraft 20.0% 14.7% 17.4%
Long-Term Loan-Current Portion 36.6% 65.4% 51.0%
Lease Finance-Current Portion 2.5% 11.1% 6.8%
Interest Payable 0.19% 0.49% 0.34%
Creditors for Goods 5.04% 5.21% 5.13%
Creditors for Services 0.031% 0.080% 0.056%
Accrued Expenses 1.41% 1.40% 1.41%
Advance Against Sales 1.8% 1.5% 1.6%
Liabilities for Other Finance 20.3% 25.0% 22.7%
Provision for Current Tax 25.8% 9.0% 17.4%
Unclaimed Dividend 5.5% 5.9% 5.7%
8.5% 6.9% 7.7%
Employee Benefit Obligations
Total Current Liabilities 23.2% 19.8% 21.5%
Total Liabilities
Total Equity & Liabilities

Additional Inputs from notes

Total term loan 655,457,736৳ 579,848,999৳ 1.7%

adesh Limited
Assumptions)
2019-2020
Amount in (%)
Notes

of end of year sales

Lets suppose intangible asset will remain constant

of end of year sales

of end of year sales

of end of year sales

of end of year sales
of end of year sales
of end of year sales

of end of year sales

Lets suppose we will not issue any share in the upcoming years
& the share capital will remain constant

Have to accumulate the retained earnings from income

statement

percentage of Total term loan

percentage of Right-of-Use Asset (ROU), Net
percentage of Income Tax Expense

percentage of Total Current Assets

percentage of Total term loan
percentage of Net Finance cost (Intrest exp)
of net finance cost(Interest exp)
of COGS at the end of the year
of COGS at the end of the year
of COGS at the end of the year
of end of year sales
percentage of Other Income
of income tax expense
of Net dividend for the year
of Earnings before contribution to workers profit contribution
fund
of end of year sales

Total term loan will grow at this percentage and this is the
percentage change of non current asset over the year
 Olympic Bangladesh Limited
Income Statement(Assumptions)
For the year 2019-20
Amount in (%)
2019 2020 Average
Revenue 15.7%
(-)COGS 66.9% 68.1% 67.5%
Gross Profit
Operating Expences
Administrative Expenses 2.4% 2.3% 2.3%
Selling Expenses 12.5% 12.9% 12.7%
Total Operating Expences
Operating Profit (EBIT)
Net Finance cost (Intrest exp) 5.2% 4.8% 5.0%

Other Income 9.1% 10.1% 9.6%

Profit /(Loss) for the year
(-)Net changes in fair value of investment in
shares of Listed Companie 0.05% 0.09% 0.07%
Earnings before contribution to workers
profit contribution fund
(-)Contribution to workers' profit
participation fund 4.8% 4.76% 4.76%
Profit Before Tax (EBT)
Income Tax Expense 26.6% 26.8% 27%

Net profit after Taxation

Basic & Diluted Earnings Per Share (EPS)

Number of shares outstanding

Additional Inputs (From notes)

Depreciation Expense 8.5% 9.8% 9.2%

Net dividend for the year 43.4% 41.7% 42.5%

Retained Earnings
Dividend paid during the year
Unclaimed dividend for the year
ted
ons)

Amount in (%)
Notes
Sales growth over the year
Percentage of sales

Percentage of sales
Percentage of sales

Percentage of total liabilities

percentage of Investments

percentage of Investments

percentage of Earnings before contribution to

workers profit contribution fund

percentage of profit before taxes

Lets suppose that the company will not issue any

share in next 5 years

percentage of Totla Non-current Assets

Dividend payout ratio

 Olympic Bangladesh Limited
Pro Forma Balance Sheet
For the year 2019-2025
Amount in BDT
2019 2020
Assets
Non-current Assets
Property, Plant & Equipment 2,754,848,741৳ 3,154,940,982৳
Intangible Assets -Software ERP 1৳ 1৳
Right-of-Use Asset (ROU), Net 0৳ 48,907,381৳
Capital Work-in-Progress 1,144,215,357৳ 762,173,394৳
Totla Non-current Assets 3,899,064,099৳ 3,966,021,758৳
Current Assets
Inventories 1,253,065,390৳ 1,754,377,814৳
Trade & Other Receivables 211,109,972৳ 361,539,012৳
Advances, Deposits & Pre-payments 970,952,183৳ 817,755,640৳
Investments 4,014,955,674৳ 4,227,541,203৳
Cash & Cash Equivalents 608,038,640৳ 675,271,818৳
Total Current Assets 7,058,121,859৳ 7,836,485,487৳
Total Assets 10,957,185,958৳ 11,802,507,245৳
Equity&Liabilities
Share holder's Equity
Share Capital 1,999,388,860৳ 1,999,388,860৳
Retained Earnings 5,216,919,766৳ 6,242,179,551৳
Total Equity 7,216,308,626৳ 8,241,568,411৳
Non-Current Liabilities(Long)
Long-Term loan - Non- Current Portion 415,266,729৳ 200,451,144৳
Lease Finance - Non- Current Portion 0৳ 31,314,817৳
Deferred Tax Liability 143,975,785৳ 185,897,673৳
Total non-current Liabilities 559,242,514৳ 417,663,634৳
Total Equity & Non - Current Liabilities 7,775,551,140৳ 8,659,232,045৳
Current Liabilities & Provisions(Short)
Short-Term Loans and Overdraft 1,411,757,914৳ 1,153,021,184৳
Long-Term Loan-Current Portion 240,191,007৳ 379,397,855৳
Lease Finance-Current Portion 4,949,584৳ 19,039,088৳
Interest Payable 367,531৳ 845,829৳
Creditors for Goods 463,198,318৳ 564,234,655৳
Creditors for Services 2,856,018৳ 8,707,741৳
Accrued Expenses 129,827,919৳ 151,842,589৳
Advance Against Sales 246,596,537৳ 237,997,725৳
Liabilities for Other Finance 74,502,706৳ 106,470,600৳
Provision for Current Tax 175,086,506৳ 66,362,174৳
Unclaimed Dividend 205,720,139৳ 255,625,820৳
Employee Benefit Obligations 226,580,639৳ 199,729,940৳
Total Current Liabilities 3,181,634,818৳ 3,143,275,200৳
Total Liabilities 3,740,877,332৳ 3,560,938,834৳
Total Equity & Liabilities 10,957,185,958৳ 11,802,507,245৳

Additional Inputs from notes

Total term loan 655,457,736৳ 579,848,999৳

Accumulated Depreciation 148,321,125৳

Net Non current Asset 3,817,700,633৳
 2021 2022 2023 2024 2025

3,670,795,529৳ 4,248,477,279৳ 4,917,070,167৳ 5,690,881,096৳ 6,586,468,475৳

1৳ 1৳ 1৳ 1৳ 1৳
28,302,026৳ 32,755,982৳ 37,910,869৳ 43,876,992৳ 50,782,018৳
1,207,403,609৳ 1,397,415,563৳ 1,617,330,146৳ 1,871,853,205৳ 2,166,431,158৳
4,906,501,166৳ 5,678,648,825৳ 6,572,311,183৳ 7,606,611,293৳ 8,803,681,651৳ 8,803,681,651৳

1,854,481,490৳ 2,146,325,616৳ 2,484,097,940৳ 2,875,026,291৳ 3,327,475,958৳

350,609,671৳ 405,785,941৳ 469,645,432৳ 543,554,641৳ 629,095,117৳
1,123,524,343৳ 1,300,336,018৳ 1,504,972,964৳ 1,741,814,109৳ 2,015,927,503৳
5,135,457,861৳ 5,943,636,975৳ 6,879,001,143৳ 7,961,565,776৳ 9,214,496,158৳
-373,012,042৳ -406,745,578৳ -445,523,197৳ -490,134,153৳ -541,491,829৳
9,262,080,988৳ 10,719,676,516৳ 12,406,657,290৳ 14,359,122,206৳ 16,618,851,131৳ 15,186,994,736৳
13,795,570,112৳ 15,991,579,763৳ 18,533,445,276৳ 21,475,599,347৳ 24,881,040,953৳

1,999,388,860৳ 1,999,388,860৳ 1,999,388,860৳ 1,999,388,860৳ 1,999,388,860৳

7,644,672,727৳ 9,269,527,124৳ 11,151,764,546৳ 13,331,918,745৳ 15,856,902,860৳
9,644,061,587৳ 11,268,915,984৳ 13,151,153,406৳ 15,331,307,605৳ 17,856,291,720৳

288,783,373৳ 293,742,578৳ 298,786,947৳ 303,917,941৳ 309,137,048৳

18,121,452৳ 20,973,268৳ 24,273,880৳ 28,093,918৳ 32,515,125৳
205,870,845৳ 238,511,070৳ 276,292,117৳ 320,023,081৳ 370,640,387৳
512,775,670৳ 553,226,916৳ 599,352,944৳ 652,034,940৳ 712,292,560৳
10,156,837,257৳ 11,822,142,900৳ 13,750,506,350৳ 15,983,342,545৳ 18,568,584,280৳

1,607,683,799৳ 1,860,688,790৳ 2,153,509,773৳ 2,492,412,684৳ 2,884,649,546৳

301,023,229৳ 306,192,626৳ 311,450,796৳ 316,799,263৳ 322,239,578৳
14,191,337৳ 16,143,750৳ 18,398,594৳ 21,003,381৳ 24,013,099৳
709,318৳ 806,904৳ 919,607৳ 1,049,801৳ 1,200,234৳
636,648,799৳ 736,839,722৳ 852,797,927৳ 987,004,747৳ 1,142,332,012৳
6,923,949৳ 8,013,587৳ 9,274,704৳ 10,734,286৳ 12,423,566৳
174,828,340৳ 202,341,488৳ 234,184,445৳ 271,038,604৳ 313,692,588৳
302,885,353৳ 350,551,136৳ 405,718,195৳ 469,567,024৳ 543,463,894৳
111,749,824৳ 129,336,157৳ 149,690,094৳ 173,247,177৳ 200,511,493৳
154,481,972৳ 178,974,640৳ 207,324,893৳ 240,139,863৳ 278,122,226৳
 59,429,703৳ 68,852,110৳ 79,758,542৳ 92,382,565৳ 106,994,500৳
268,177,232৳ 310,695,954৳ 359,911,357৳ 416,877,408৳ 482,813,937৳
3,638,732,855৳ 4,169,436,863৳ 4,782,938,926৳ 5,492,256,802৳ 6,312,456,674৳
4,151,508,525৳ 4,722,663,780৳ 5,382,291,870৳ 6,144,291,742৳ 7,024,749,234৳
13,795,570,112৳ 15,991,579,763৳ 18,533,445,276৳ 21,475,599,347৳ 24,881,040,953৳

589,806,602৳ 599,935,204৳ 610,237,742৳ 620,717,203৳ 631,376,626৳

 Olympic Bangladesh Limited
Pro Forma Income Statement
For the year 2019-2025
Amount in BDT
2019 2020 2021
Revenue 13,733,728,376৳ 15,895,037,599৳ 18,396,477,151৳
(-)COGS 9,185,337,984৳ 10,826,540,639৳ 12,417,099,040৳
Gross Profit 4,548,390,392৳ 5,068,496,960৳ 5,979,378,111৳
Operating Expences
Administrative Expenses 323,362,429৳ 358,910,484৳ 424,270,266৳
Selling Expenses 1,716,042,222৳ 2,055,657,417৳ 2,338,909,060৳
Total Operating Expences 2,039,404,651৳ 2,414,567,901৳ 2,763,179,326৳
Operating Profit (EBIT) 2,508,985,741৳ 2,653,929,059৳ 3,216,198,785৳
Net Finance cost (Intrest exp) 194,338,696৳ 171,130,249৳ 207591311.470113
2,314,647,045৳ 2,482,798,810৳ 3,008,607,474৳
Other Income 366,579,768৳ 425,800,621৳ 493066086.560307
Profit /(Loss) for the year 2,681,226,813৳ 2,908,599,431৳ 3,501,673,560৳

(-)Net changes in fair value of

investment in shares of Listed Companie 2,086,699৳ 3,920,630৳ 3715846.4944874
Earnings before contribution to workers
profit contribution fund 2,679,140,114৳ 2,904,678,801৳ 3,497,957,714৳
(-)Contribution to workers' profit
participation fund 127,578,101৳ 138,318,038৳ 166,569,415৳
Profit Before Tax (EBT) 2,551,562,013৳ 2,766,360,763৳ 3,331,388,299৳
Income Tax Expense 679,740,453৳ 741,406,548৳ 890,162,946৳

Net profit after Taxation 1,871,821,560৳ 2,024,954,215৳ 2,441,225,352৳

Basic & Diluted Earnings Per Share (EPS) 9.36৳ 10.13৳ 12.21৳
Number of shares outstanding 199,938,886 199,938,886 199,938,886

Additional Inputs (From notes)

Depreciation Expense 333,347,656৳ 387,810,399৳ 449,625,633৳

Net dividend for the year 811,974,016৳ 844,819,609৳ 1,038,732,177৳

Retained Earnings 1,059,847,544৳ 1,180,134,606৳ 1,402,493,176৳
Dividend paid during the year 767,027,360৳ 794,913,928৳
Unclaimed dividend for the year 44,946,656৳ 49,905,681৳
 2022 2023 2024 2025
21,291,574,146৳ 24,642,279,381৳ 28,520,293,002৳ 33,008,598,771৳
14,371,207,200৳ 16,632,837,969৳ 19,250,386,905৳ 22,279,865,691৳
6,920,366,946৳ 8,009,441,412৳ 9,269,906,096৳ 10,728,733,080৳

491,038,678৳ 568,314,593৳ 657,751,600৳ 761,263,521৳

2,706,988,695৳ 3,132,993,890৳ 3,626,040,527৳ 4,196,679,076৳
3,198,027,373৳ 3,701,308,483৳ 4,283,792,127৳ 4,957,942,597৳
3,722,339,573৳ 4,308,132,930৳ 4,986,113,969৳ 5,770,790,483৳
236151259.62656 269135188.1458 307238097.4379 351264340.9559
3,486,188,313৳ 4,038,997,742৳ 4,678,875,871৳ 5,419,526,142৳
570661059.40786 660467336.1259 764406638.4026 884703113.8002
4,056,849,373৳ 4,699,465,078৳ 5,443,282,510৳ 6,304,229,256৳

4300618.0204645 4977416.42056 5760724.180984 6667302.930952

4,052,548,754৳ 4,694,487,661৳ 5,437,521,786৳ 6,297,561,953৳

192,978,512৳ 223,547,032৳ 258,929,609৳ 299,883,903৳

3,859,570,242৳ 4,470,940,630৳ 5,178,592,177৳ 5,997,678,050৳
1,031,295,697৳ 1,194,656,800৳ 1,383,744,691৳ 1,602,608,368৳

2,828,274,545৳ 3,276,283,830৳ 3,794,847,486৳ 4,395,069,682৳

14.15৳ 16.39৳ 18.98৳ 21.98৳

199,938,886 199,938,886 199,938,886 199,938,886

520,384,279৳ 602,278,380৳ 697,060,349৳ 806,758,381৳

1,203,420,148৳ 1,394,046,408৳ 1,614,693,287৳ 1,870,085,567৳

1,624,854,397৳ 1,882,237,422৳ 2,180,154,199৳ 2,524,984,115৳
 Year 2020 2021 2022
Profit after tax 2,024,954,215৳ 2,441,225,352৳ 2,828,274,545৳

Add Depreciation expense 387,810,399৳ 449,625,633৳ 520,384,279৳

Sub Increase in current assets 778,363,628৳ 1,425,595,501৳ 1,457,595,528৳

Add Increase in current liabilities -38,359,618৳ 495,457,655৳ 530,704,008৳

Sub Increase in fixed assets at cost 66,957,659৳ 940,479,408৳ 772,147,660৳

Add After-tax interest expenses 125,403,425৳ 152,121,916৳ 173,050,509৳

Sub After-tax interest income 268,627,894৳ 312,024,651৳ 361,316,461৳

Free Cash Flow 1,385,859,240৳ 860,330,997৳ 1,461,353,693৳

 2023 2024 2025
3,276,283,830৳ 3,794,847,486৳ 4,395,069,682৳

602,278,380৳ 697,060,349৳ 806,758,381৳

1,686,980,774৳ 1,952,464,916৳ 2,259,728,925৳

613,502,063৳ 709,317,876৳ 820,199,872৳

893,662,358৳ 1,034,300,110৳ 1,197,070,358৳

197,220,974৳ 225,142,603৳ 257,404,823৳

418,177,685৳ 483,987,293৳ 560,153,515৳

1,690,464,430৳ 1,955,615,994৳ 2,262,479,959৳