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ADN Telecom Limited
Financial Statements (Un-audited )
For the period ended 30 September, 2019
Pa rticulars
ASSETS
Non-Current Assets
Property, Plant and Equipmentlntangible Assets
lnvestment
Total Non-Current Assets
Current Assets
Trade and Other Receivables
Advance, Deposits and Prepayments
Cash and Cash Equivalents
Total Current Assets
Total Assets
EQUITY AND LIABILITIES
Capital & Reserves
Share Capital
Share Premium
Retained Earnings
Total Equity
LIABILITIES
Non-Current Liabilities
Term Loan
Lease Liabilities
Deferred Tax LiabilityTotal Non-Current liabilities
Current Liabilities
Short Term Loan
Accrued Expenses
Provision for Workers' Profit Participation Fund (WPPF)
Trade and Other Payables
Provision for Tax LiabilityTotal Current Liabilities
Total Liabilities
Total Equity and Liabilities
Net Asset Value (NAV) Per Share
Date: November 05, 2019
Place: Dhaka
ADN TELECOM LIMlTEDSTATEMENT OF FINANCIAL POSITION
AS AT SEPTEMBER 30, 2019
2
3
4
5
6
7
9
10
77
L2
13
1,535,999,466 1,516,589,254
356,376,468202,7Ls,000
31,966,950591,058,418
448,600,000
83,005,464440,296,196
971,901,660
67,92L,65312,958,055
768,624,336
243,504,044
nts.
II
Y
Managing D rector
348,621,452183,750,861
41_,303,724
573,676,O37
448,600,000
83,005,464
41,1,842,1,73
943,447,637
13
77,957,84X
8,744,898163,806,s26
250,509,254
20,L18,633
81.,204,055
70,032,6231,75,2L3,755
34,024,696320,593,762
564,097,806
L,535,999,466
2L.67
573,L41,6L87,5L6,589,254
21.03
The ahnexed notes form an integral part ofthe financial stateme
ttl it^+^- Il''"""11
933,444,415721,,044
1,0,775,589
944,94L,O48
931,378,634
758,994
10,775,589
942,9t3,217
11,,775,905
67,589,654
8,009,194
206,429,646
28,827,953
322,632,353
Director
Officer
ADN TELECOM LIMITEDSTATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD OF SEPTEMBER 30, 2019
Particulars
Net Revenue
Cost of Goods Sold & Services
Gross ProfitOperating Expenses
Administrative Expenses
Distribution and Marketing Expenses
Operating ProfitOther Non-Operating lncome
Financial Expense
Workers Profit Participation Fund (WPPF)
Profit before lncome Tax
Provision for Tax
Current Tax
Deferred Tax
Net Profit After Tax
Other Comprehensive lncome
Total Comprehensive lncome
Basic Earnings Per Share (EPS)
Diluted Earnings Per Share (EPS)
Amount in BDT
30-Sep-19 ll so-sep-ra
L4
15
16
77
26t,413,465150,582,
110,831,151
275,943,Lt6122,110,
93,772,352
(3s,28s,860)
(31,502,809)
(55,788,569)
(33,763,581
(
(59,647,278l'
44,042,482 34,!25,074
1_1
40,468,575 30,480,695
(7,796,742)
817
(6,084,298
133
(1,2,074,5521 (8,863,431)
28,454,023 2L,617,264
28,454,023 2L,6L7,264
20
20
d notes form an integral part of the financial statements.
Director Managing Director
Date: November 05, 2019
Place: Dhaka
19
L9
42,492,004(2,023,4291
32,004,730(1,524,035)
ADN TELECOM LIMITEDSTATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD OF SEPTEMBER 30, 201.9
Particulars
Balance as at 1 July 2018
Net Profit after taxBalance as at 30 September 2018
Balance as at l July 2019
Net Profit after tax
Balance as at 30 September 2019
Ordinary Share
Capital
448,600,000
Share Premium
83,005,464
448,600,000
448,600,000
83,005,464 333,448,114 865,053,578
943,447,63V
28,454,023
83,005,464 41,1,,842,773
28,454,023
448,600,000 83,005,464 440,296,196 971,907,660
Managing Director
Date: November 05, 2019
Place: Dhaka
Director
.r," rorricer
Retained
Earnings
311,830,850
21,,617,264
Amount in BDT
Total
843,436,314
21,617,264
ADN TELECOM LIMITEDSTATEMENT OF CASH FLOWS
FOR THE PERIOD OF SEPTEMBER 30, 2019
Particulars
Cash Flow from Operating Activities
Cash Received from Customers
Cash Paid to Suppliers & Others
Paid for Operating Expenses
Cash generated from Operations
Finance Expenses Paid
lncome Tax Paid
Net Cash Flow from Operating Activities
Cash Flow from lnvesting ActivitiesAcquisition of Property, Plant & Equipments and Intangible Assets
Advance for Land (purchase)/adjustment
Net Cash Flows from /(used) for lnvesting activities
Cash Flow from Financing Activities
Repayment of Long Term Borrowing
Repayment of Short Term Borrowing
Receipt of Short Term Borrowing
Dividend Paid
Repayment to Lease Finance
Fund Received from Lease Finance
Net Cash Flows from/ (used) for Financing Activities
Net Cash lncrease/(Decrease) during the year
,fficer
Date: November 05, 20L9
Place: Dhaka
2s3,679,550(t64,s29,6391
(69,83s,290)
t55,917,260(90,819,s31)
(ss,910,216)
19,3L4,621(3,0s7,21s)
(2,000,000)
14,257,4O7
(18,558,104)
(900,000)
lLg,4s8,104l
( 16,036,188)
(4,93t,2731
t3,214,000(6ss.77s)
(s86,841)
4,800,000
(4,t36,O77l,
(9,336,774l,
47,303,724
t9,247,513(3,624,8s01
t44,641,376l,58,496,2L6
31,956,950 t3,854,842
0.32 0.35
Managing Director
Opening Cash and Cash Equivalents
Closing Cash and Cash Equivalents
Neq\Oper-ating Cash Flow per s
Chairman Director
\4
ADN Telecom LimitedNotes to the Financial Statements
For the period of 30 September, 2019
1.0 Company and its activities
a) Company Profile
ADN Telecom Ltd. (Formerly known as Advanced Data Networks System Limited) was incorporated on 22
September, 2003 under The Companies Act 1994 as a Private Limited Company" lt commenced its commercial
operation in 2003. ADN Telecom Ltd. was converted into Public Ltd Co. from Private Ltd on 25 July, 2012, The
company has been awarded with the ISO 9001:2008 certification for serving its valued customers with the service
of excellent quality"
The registered office of the company is located at Red Crescent Concord Tower, 17 Mohakhali ClA, (19th Floor)
Dhaka- L2L2, Bangladesh. The business office of the company is located at Red Crescent Concord Tower, 17
Mohakhali C/A, (19th Floor) Dhaka- 12L2, Bangladesh.
b) Nature of Business
The principal activities of the company includes providing seamless, secured data & internet connectivity to various
grades of customers using fiber, satellite and wireless solutions. ADN Telecom Ltd. has been providing services in
the market with a high level of success since 2003. ADN Telecom Ltd. is the prime service provider for domestic and
international connectivity services and solutions duly authorized by the Bangladesh Telecommunication Regulatory
Commission (BTRC).
ADN Telecom is a first tier Telecom service provider as well as an lT Enabler Service provider. lt's range of products
allow it to deliver service to mostly corporate, 82B, government, financial institutions, etc. There are future plans to
expand coverage to include 82C products and services.
c) Basis of Preparation
The financial statements have been prepared and the disclosures of information made in accordance with the
requirements of The Companies Act 1994. On the basis of these Regulations, Bangladesh Accounting Standards
(BAS) and Bangladesh Financial Reporting Standards (BFRS) were applied with the applicable standards at the
Financial Position date.
These condensed interim financial information are individual financial statements of ADN Telecom Ltd, and have
been prepared in accordance with lnternational Accounting Standard/Bangladesh Accounting Standard (lAS/BAS)
34: lnterim Financial Reporting and relevant guidelines issued by the Bangladesh Securities and Exchange
Commission and should be read in conjunction with the financial statements of ADN Telecom Ltd. as at and for theyear ended 30 June 2019, the year for which the last full financial statements were prepared. These financial
statements present the financial position and performance of ADN Telecom Ltd.
These financial statements have been prepared in accordance with lnternational Financial Reporting Standards
(IFRS), Bangladesh Financial Reporting Standards (BFRS), the Companies Act 1994, the Securities and Exchange
Rules 1987 and other applicable laws in Bangladesh. The requirements of IFRS and BFRS, to the extent relevant tothese financial statements, do not vary from each other.
These financial statements have been prepared on the historical cost and going concern basis. Measurement at
revalued amounts or fair value does not have significant impact on these financial statements. The amounts in
these financial statements have been rounded off to the nearest BDT except otherwise indicated. Because of these
rounding off, in some instances the totals may not match the sum of individual balances.
d) Significant accounting policies
The same accounting policies and methods of computation have been followed in these condensed interim
financial information as were applied in the preparation of the financial statements of ADN Telecom Ltd. as at and
for the period ended 30 September 2019"
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fn
lnvestment in Associates
This is mode up os follows:
Opening lnvestment in Share
Share of proflt/(loss) of associates
Total
Trade and Other Receivables
This is mode up os follows:Trade Receivable
Other Receivable
Advance, Deposits and Prepayments
This is made up as follows:Porticulars
Advance
Deposits
.Prepayments
7.0 Cash and Cash Equivalents
This is mode up os follows:Cash in Hand
Cash at Bank
+ Bank balances are reconciled at regular intervals to keep the unreconciled balances within non-material level.
8.0 Term Loan
This is mqde up os follows:IDLC
IIDFC
Total
The above balances has been confirmed by IIDFC & IDLC
9.0 Short Term Loan
This is made up os follows:Loan Against Trust Receipts (LATR)
4.0
5.0
5.0
9,946,38s
829,204
L0,775,589
245,252,903
103,368,549
348,52L,452
t47,233,742
33,056,310
3,467,409
183,750,851
482,264
40,82!,460
4L,303,724
42,104,676
35,853,165
77,957,84L
1.1,775,905
Lt,775,905
202,7L5,000
* All the above Advance, Deposits & Prepayments are considered secured by the management.
10.0 Accrued Expenses
This is made up os follows:
Salaries & Allowance
Director Remuneration
Bandwidth and Fiber Rent
I PTSP lnterconnection Charges
Overtime, Holiday Allowance & Conveyance
Provision for Rent
Provision for Bad debts
GratuityVehicle Expense
Mobile Bill
Dividend Payable to SEAF Venture
Provision for others
Utilities Expense
Provision for Workers Profit Participation Funds (WPPF) :
This is mode up os follows:Particu lars
Opening Balance 1st July
Charge during the period
Disbursement during the period
Closing Balance
Trade and Other Payables
This is mode up as follows:Trade Payables
Others Payables
Total
11.0
8,009,194
2,O23,429
to,032,623
to,o32,623
28,827,953
7,796,742
9,085,811
8,009,194
17,095,005
9,085,811
8,009,194
L2.O
170,1.59,034
36,270,611205,429,646
13.0 Provision for !ncome Tax
This is mode up os follows:
For Current Tax
For Deferred Tax
13.1
t3.2
Note- 13.1
Note- 13.2
Note -19
Note-19
28,827,953
t63,806,s2sL92,634,478
60,736,864
28,827,953
Provision for Current Tax
This is mode up os follows:
Opening Balance 1st July
Add: Provision made during the period
Less: Adjustment & Paid during the period
Closing Balance
Provision for Deferred Tax
Opening Balance 1st July
Add: Provision made during the period
Less; Provision realised during the period
Closing Balance
36,024,696 89,564,8L7
2,0o0,ooo 60,736,864
34,O24,696
163,806,525
4,917,8!O
28,827,953
158,731-,426
5,075,100
L68,624,336 163,806,526
L68,624,335
76,973,387
179,000
4,953,249
1,916,981
1,153,108
474,698
L,748,61.4
36,400,117
898,000
421,555
65s,775
106,919
1,708,251
67,589,654
L75,213,755
L63,806,526
L3.2.L Calculation of Deferred Tax:
As on 30 June, 2019
Property, Plant & Equipment
Applicable Tax Rate
Deferred Tax Liability
As on 30 September, 2019
Property, PIant & Equipment
Applicable Tax Rate
Deferred Tax Liability
tc,"y'.ull'*;-li Amount
I
93L,378,634 463,359,989
933,444,415 451,660,599
Temporary
Difference
48L,783,81_6
3s%
468,0'1.8,644
3s%
10
L63,906,526
L68,624,336
14.0 Revenue
This is made up os follows:
Export Services
Local Services
Total
15.0 Cost of Goods Sold & Services
This is made up os follows:Bandwidth Cost
lnfrastructure, Optical Fiber & Network Equipment Cost
Salary & Allowances
Cost of Equipment
Fiber Lease Rent
lP Telephony lnter Connectivity Expenses
BTRC License Fees
Consumable ltems
Entertainment
Fire and Burglary lnsurance Expenses
POP Expenses and Rent
IPTSP Revenue Sharing with BTRC
Equipment Repair & Maintenance
Telephone, Fax, lnternet & Courier
Training & Development
Travelling & Conveyance
Vehicle Expenses
UtilitiesDigital Marketing Business
Depreciation
15.0 Administrative Expenses
This is mode up os follows:Salary & Allowances
Director Remuneration
Group Life lnsurance Premium
Professional & Technical Fees
Telephone, Fax, lnternet & Courier Expenses
Office MaintenanceTravelling and Conveyance
Entertainment Expenses
IPO Expenses
Medical Expenses
Legal Fees
Statio neries
Newspaper, Books & Journals
License & Regulatory Fee
Office Rent
Repairs & Maintenance
Vehicle Expenses
Training & Development Expenses
Utilities Expenses
Amortization Expenses
Depreciation
741,,568,902
\19,744,564267,4L3,465 2t5,943,1t6
s2,402,027
5,753,582
3s,698,s18
5,506,820
L6,888,940
1.,881.,754
7,297,225
41,,208
403,2L9
8,111,545
247,995
404,097
726,172
r29,708
2,221,,s1,5
2,365,392t,619,666
74,882,93t150,582,314 L22,t70,764
19,804, L1 1
600,000
836,446
L,202,3s9
430,485
363,49s
2,291.,435
78,542172,750
286,39s
34,758t77,868
3,310,641
L94,369
L,644,826
L22,3t62,087,722
37,950
1.,609,392
19,823,5 14
600,000
2L,180
1.82,1lt621.,460
973,914
1"1.2,837
467,688
62,84749,744
2t2,rgl38,086
568,605
3,516,154
871,396
1,488,768
448,t3sL,93t,s6l
47,437
1,,737,293
35,285,860 33,763,587
Amount in BDT
,028
15,897,718
4,719,224
30,238,298
r00,275
17,24t,314
2,290,821
115,000't ,049,31.t
90,808
5,943,362
250,32L
492,766
832,205
198,564
348,864
2,226,775
2,128,918
1,235,583
17.0 Distribution and Marketing Expenses
This is made up os follows:Salary & Allowances
Advertisement Expense
Business Promotion Expenses
Travelling and Conveyance
Entertainment Expense
Misc" AD HOC
Pri nti ng
Telephone, Fax, lnternet & Courier
Vehicle Expenses
Training
Tender Participant Expenses
Bad Debts Collection Charges
Bad Debts
19.0
Financial Expenses
This is mode up os follows:lnterest on Term Loan
lnterest on Finance Lease
Bank Service Charges
Exchange (Gain)/Loss
lncome Tax Expenses-this is mode up os follows:Current Tax Expenses
Deferred Tax Expenses/(l ncome)
Earnings Per Share (EPS):
Basic Earnings Per Share (EPS):
This is mode up os follows:Profit Attributable to ordinary Shareholder
Weighted Average Number of Ordinary Shares
Outstanding during the Year
Basic Earnings Per Share
Diluted Earning per Share:
This is mode up os follows:Profit Attributable to Ordinary Shareholder
Total number of Existing share
Diluted Earning Per Share
* EPS has been calculated as per IAS 33.
Note-13.1
Note-13.2
2,s33,483 ll 3.260,09s
362,4s7 ll gt,nt16t,274 ll z0o,szs(21,101)ll (4,7L1.1
3,036,114 3,620,139
7 ,1e6,742 ll 6,084,2s8
4,817,810 ll 2,779,133
72,0t4,552 8,853,431
28,454,023 21,617,254
44,850,000 44,860,000
0.48
20.0
20.L
28,454,023
44,860,000
21,617,264
44,860,000
0.48
19,8s7,774 ll rS,:SZ,a:sL,272,s02ll t,45a,287,64s,ess ll zsot,au
720,407 ll t,Ot+,srcr27,ts4 ll 84,s76
317,0s1 ll 280,062
868,e24ll SSS,OSa
ll 12o,ooo
60,s00 ll 4,2s2
ll 2,200
29,736ll t23,712
34.946 ll
sog,szo ll ,ur,ooo31,502,809 25,883,697
t2
Amount in BDT