2012

A N N U A LR E P O R T

A N N U A L R E P O R T 2 0 1 2

w w w . a f c h e m . c o m

Corporate office:Tanaka Tower (2nd floor)

42/1/Gha, Segun Bagicha, Dhaka-1000Tel: 088-02-9572001, 9570574 Fax: 088-02-9550040

ANNUAL REPORT 2012

Page No.

Transmittal Letter 1Notice of the 8th Annual General Meeting 2

Our Vision 3

Our Mission 4

Our Objectives 5

Company at a Glance 6

Corporate Directory 7

Financial Highlights at a Glance 8

Introduction the Directors 9

Message from Chairman 11

Message from Managing Director 12

Report of the Board of Directors to the Shareholders 13

Corporate Governance Report 20

Auditor’s Report & Audited Financial Statements 30

Proxy Form 56

Attendance Slip 56

Annual Report 2012

Table of Contents

Active Fine Chemicals Ltd

As at 31st December, 2012AMOUNT (INTAKA)

ASSETS: Notes 31.12.2012 31.12.2011

Non-Current Assets:

TOTAL SHARE HOLDERS' EQUITY AND LIABILITIES

The annexed notes forman integralpart of these financial statements.

Property,Plant and Equipments at Carrying Value 2 786,307,557 548,225,410

Intangible Assets: 54,976,199 79,227,434

Unallocated Revenue Expenditure 3 12,556,979 25,113,958

Product Development Cost 4 26,504,572 22,284,180

IPO Expenses 5 15,914,648 31,829,296

Investment 6 77,200,000 37,200,000

Current Assets: 407,325,015 236,785,737Inventories 7 247,700,635 144,744,695Advances, Deposits and Prepayments 8 30,866,487 33,003,974Accounts Receivable 9 122,299,327 54,446,444Cash and Cash Equivalents 10 6,458,566 4,590,624

TOTAL ASSETS 1,325,808,771 901,438,581

SHAREHOLDERS' EQUITY& LIABILITIES:

Shareholders' Equity : 958,063,308 735,261,655Share Capital 11 552,000,000 460,000,000Retained Earnings 12 179,598,505 98,334,296Revaluation Surplus 13 111,282,013 112,315,900TaxHoliday Reserve 14 115,182,790 64,611,459

Non-Current Liabilities: 25,362,843 1,967,912Deferred TaxLiability 15 10,960,343 1,967,912Long TermLoan 16 14,402,500 -

Current Liabilities: 342,382,620 164,209,013Short termLoans 17 233,292,868 119,553,644Liabilities for Finance Lease 18 404,593 1,107,282Provision for Current Tax 19 41,689,808 13,538,216Liabilities for Expense & Services 20 42,117,780 18,129,584Liabilities for Other Finance 21 24,877,571 11,880,287

1,325,808,771 901,438,581

Md.Zia UddinChairman

S.M. Saifur RahmanManaging Director

Prodip RoyHeadof Finance & Company Secretary

Dhaka, March 11, 2013

Active Fine Chemicals Ltd

Subject to our separate report of even date.A ÿ -J"ÿ ÿyls d Avyi cv*— ÿ

Khan Wahab Shaflque Rahman & Co.Chartered Accountants

Annual Report 2012

For the year ended 31st December, 2012

Particulars Notes AMOUNT (INTAKA)

2012 2011

Net Turnover

Cost of Goods Sold

Gross Profit

22

23

720,519,189

(371,286,905)

349,232,284

442,640,850

(235,839,447)

206,801,403

Operating Expenses (70,098,069) (41,722,016)

Administrative Expenses

Selling & Distribution Expenses

24

25

(55,655,505)

(14,442,564)

(30,259,694)

(11,462,322)

Profit from Operation 279,134,215 165,079,387

Finance Cost

Other Income

Gain on DisposalofLand

(26,277,563)

620,907

19,465,400

(13,318,742)

670,962

Net Profit before WPPF

Allocation for WPPF

Net Profit Before Tax

272,942,959

(12,997,284)

259,945,675

152,431,607

(7,258,648)

145,172,959

Income Tax Expenses (37,144,023) (11,654,897)

Provision for Current Tax

Provision for Deferred Tax

(28,151,592)

(8,992,431)

(9,686,985)

(1,967,912)

Net ProfitAfter Tax 222,801,652 133,518,062

(Transferred to Statement of Changes inEquity) 222,801,652 133,518,062

Earnings per share from normal operation (Restated): 3.68 2.42

Earnings per share including extra-ordinary

income i.e gain on disposal of land 26 4.04 2.42

The annexed notes form an integral part of these financial statements.

Md.Zia UddinChairman

S.M. Saifur RahmanManaging Director

Dhaka, March 11, 2013

Prodip RoyHead of Finance & Company Secretary

Subject to our separate report of even date./At A- ÿ/ >ÿ»Avviova. /

Khan Wahab Shaflque Rahman & Co.Chartered Accountants

Annual Report 2012 Active Fine Chemicals Ltd