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Report on the Financial StatementsWe have audited the accompanying financialstatements of Renata Limited (“thecompany”) which comprises Statement ofFinancial Position as at 31 December 2012and the Statement of ComprehensiveIncome, Statement of Changes in Equity andStatement of Cash Flows for the year thenended and also consolidated financialstatements of Renata Limited and itssubsidiaries which comprises ConsolidatedFinancial Position as at 31 December 2012and the Consolidated Statement ofComprehensive Income, ConsolidatedStatement of Changes in equity andConsolidated Cash Flows Statement for theyear then ended and a summary ofsignificant accounting policies and otherexplanatory notes.Management’s Responsibility for theFinancial StatementsManagement is responsible for thepreparation and fair presentation of thesefinancial statements in accordance withBangladesh Financial Reporting Standards(BFRS). This responsibility includes;designing, implementing and maintaininginternal control relevant to the preparationand fair presentation of financial statementsthat are free from material misstatement,whether due to fraud and error; selecting andapplying accounting policies; and makingaccounting estimates that are reasonable inthe circumstances.Auditors’ ResponsibilityOur responsibility is to express an opinion onthese financial statements based on ouraudit. We conducted our audit in accordancewith Bangladesh Standards on Auditing(BSA). Those standards require that wecomply with ethical requirements and planand perform the audit to obtain reasonableassurance whether the financial statementsare free from material misstatement. Anaudit involves performing procedures toobtain audit evidence about the amounts anddisclosures in the financial statements. Theprocedures selected depend on the auditor’sjudgment, including the assessment of therisks of material misstatement of the financialstatements, whether due to fraud or error. Inmaking those risk assessments, the auditorconsiders internal control relevant to theentity’s preparation and fair presentation ofthe financial statements in order to designaudit procedures that are appropriate in theIndependent Auditors’Report to the Shareholdersof Renata Limitedcircumstances, but not for the purpose of expressing an opinion onthe effectiveness of the entity’s internal control. An audit alsoincludes evaluating the appropriateness of accounting policies usedand the reasonableness of accounting estimates made bymanagement, as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our auditopinion.The financial statements of the Company's subsidiaries-Renata AgroIndustries Limited and Purnava Limited, reflect total assets of Tk.568,453,904 and Tk. 29,577,705 respectively as at 31 December2012 and total revenue of Tk. 189,076,696 and Tk. 225,156,039respectively for the year then ended. These financial statementshave been audited by other auditors whose reports have beenfurnished to us and our opinion, in so far as it relates to the amountsincluded in respect of the Company's subsidiaries, is based solely onthe reports of the other auditors.OpinionIn our opinion, the financial statements of the Company along withthe notes thereon and the consolidated financial statements, drawnup on the consideration of the separate audit reports of thesubsidiaries as at 31 December 2012, prepared in accordance withBangladesh Financial Reporting Standards (BFRSs), give a true andfair view of the financial position of the Company and its subsidiaries,and of the results of their financial performance and cash flows for theyear then ended and comply with the Companies Act 1994, theSecurities and Exchange Rules 1987 and other applicable laws andregulations.We also report that:a) we have obtained all the information and explanations which to thebest of our knowledge and belief were necessary for the purposesof our audit and made due verification thereof;b) in our opinion, proper books of account as required by law havebeen kept by the Company so far as it appeared from ourexamination of these books;c) the Company's balance sheet and profit and loss account dealtwith by the report are in agreement with the books of account; andd) the expenditure incurred was for the purposes of the Company'sbusiness.Dated, DhakaS. F. Ahmed & Co.30 April 2013 Chartered Accountants•52
RENATA LIMITEDSTATEMENT OF FINANCIAL POSITIONAS AT 31 DECEMBER 2012ASSETSNon-current assetsProperty, plant and equipmentCapital work-in-progressInvestment in subsidiariesInvestment in sharesOther investmentTotal non-current assetsNotes 2012 2011567894,268,926,3612,061,905,24263,070,37618,363,12330,592,1536,442,857,255Figures in Taka3,782,849,3671,370,222,64163,070,37611,333,863-5,227,476,247Current assetsInventoriesTrade and other receivablesAdvance deposits and prepaymentsCash and cash equivalentsTotal current assetsTotal assets101112131,986,744,883843,231,267148,951,592331,292,9743,310,220,7169,753,077,9711,585,100,179640,195,29197,564,211141,265,9722,464,125,6537,691,601,900EQUITY AND LIABILITIESEquity attributable to equity holders of the companyShare capitalRevaluation surplusTax holiday reserveRetained earningsTotal equity attributable to equity holders of the company141516282,418,750157,955,917206,609,3594,423,495,7225,070,479,748225,935,000158,434,421131,443,5793,442,795,0363,958,608,036Non-current liabilitiesDeferred liability-staff gratuityDeferred tax liabilityLong term loanNon-convertible BondTotal non-current liabilities17181920175,366,283272,041,423358,333,3331,000,000,0001,805,741,039149,138,826198,004,754--347,143,580Current liabilitiesShort term bank loanTrade payablesAccrualsProvision and other liabilitiesUnclaimed dividendProvision for taxationTotal current liabilitiesTotal liabilitiesTotal equity and liabilitiesThe annexed notes 1 to 37 form an integral part of these financial statements.2122231,812,605,17841,207,200272,566,530340,461,1107,907,075402,110,0912,876,857,1844,682,598,2239,753,077,9712,402,992,75850,168,661326,941,029343,920,3886,551,459255,275,9893,385,850,2843,732,993,8647,691,601,900CEO & Managing Director Director Chief Financial OfficerAs per our annexed report of same date.Dhaka, 30 April 201353 •renata annual report 12S. F. Ahmed & Co.Chartered Accountants
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Renata LimitedAnnual Report 2012
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ANNUAL GENERALMEETING 2011
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12361015173132333539Company Profile
Page 7 and 8: Year of Incorporation1972 as Pfizer
Page 9 and 10: OurMissionTo provide maximumvalue t
Page 11 and 12: “Due to adverse developments onth
Page 13 and 14: FIGURE NO. 3Weekly Production of Da
Page 15 and 16: 9 •renata annual report 12
Page 17 and 18: Dr. Sarwar Ali, DirectorCurrent Res
Page 19 and 20: Md. Fayekuzzaman, DirectorCurrent R
Page 21 and 22: MANAGEMENT TEAMGeneral ManagerOpera
Page 23 and 24: Directors’Report17 •renata annu
Page 25 and 26: CAPITAL EXPENDITUREThe following ca
Page 27 and 28: ANNEXURE-I21 •renata annual repor
Page 29 and 30: ANNEXURE-IIIStatus of compliance wi
Page 31 and 32: ConditionNo.TitleCompliance StatusN
Page 37 and 38: ANNEXURE-VRENATA LIMITED FINANCIAL
Page 39: STATEMENT OF VALUE ADDITION2012 % 2
Page 42 and 43: At Renata, corporate social respons
Page 44 and 45: Photo: Granulation Suite PPF-2 •3
Page 46 and 47: PHARMACEUTICAL PRODUCTS:ANTIMICROBI
Page 48 and 49: Trade Name Generic Name Formulation
Page 60 and 61: RENATA LIMITEDSTATEMENT OF COMPREHE
Page 62 and 63: RENATA LIMITEDCASH FLOW STATEMENTFO
Page 64 and 65: expressed in terms of percentage of
Page 66 and 67: 2.10 Borrowing costThe company capi
Page 68 and 69: 3.9 Statement of Cash FlowsThe Stat
Page 70 and 71: 5.3 Depreciation for the year has b
Page 72 and 73: 10. Inventories2012 2011Taka TakaFi
Page 74 and 75: Classification of shareholders by h
Page 76 and 77: 18. Deferred tax liabilities2012 20
Page 78 and 79: 21. Short term bank loanBank overdr
Page 80 and 81: 25. Cost of salesAmount in Taka2012
Page 82 and 83: Purchase of raw materials involve 4
Page 84 and 85: 29. Payments to directors and offic
Page 86 and 87: 36. Related party disclosure:During
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Page 90 and 91: Directors’ReportThe year 2012 was
Page 92 and 93: Renata Agro Industries LimitedSTATE
Page 94 and 95: Renata Agro Industries LimitedSTATE
Page 96 and 97: Renata Agro Industries LimitedNOTES
Page 98 and 99: The revenues are recognised under s
Page 100 and 101: 7. INVENTORIESStocks:Parent stock-B
Page 102 and 103: 14. BANK OVERDRAFTEastern bank ltd.
Page 104 and 105: 18.2 Omega-3 ProjectSalaries & over
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Directors’ReportWhile Purnava’s
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Purnava LimitedSTATEMENT OF FINANCI
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Purnava LimitedSTATEMENT OF CHANGES
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Purnava LimitedNOTES TO THE FINANCI
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3. PROPERTY, PLANT AND EQUIPMENTFig
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Purnava LimitedSCHEDULE OF PURCHASE
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ConsolidatedFinancial Statements of
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RENATA LIMITED AND ITS SUBSIDIARIES
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RENATA LIMITED AND ITS SUBSIDIARIES
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6.a Consolidated capital work in-pr
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16.a Consolidated trade & other pay
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CORPORATE HEADQUARTERSPlot # 1, Mil
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RENATA LIMITEDPROXY FORMRevenueStam
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