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fMI Industrial GasLtd.
for the year ended 30 lune 2020
AxJfp Pimaki & Cormparxy
ffiEneANDA
l:hart.rre(i "Xr'ai)1.1r1i,.r
i'.!. A aoriesi:,ondent ir.n of Reanda Inlernalianal
lndependent Auditor's Report
To the Shareholders oflMl lndustrial Gas Ltd.
Report on the Audit of the Financial Statenrents
Opinion
We have audited the liranciai statemerts of JMI Industrial Cas Ltd, (the Company), whichcomprise th€ statement r')f finrnciai position as at 30 lune 2020, and statement of profil or loss
rrrri other coml:,r'ehensive inconre. statenlent ofcharlges in equity and statement ofcash flows fortllc year then enrled, ancl iroles to tire financial stirtemenls, including a summary of significantlurrouuting policres.
l|l our opinion, lhe accompanying financial statements give a true and fair vierv oi the financialposition of thB Company as at 30 ,un€ 2020, and of its linancial performance and its cash ,lows
i'or the year ther ended in accordance with lnternational Financiai Reporting Standards (lFRSsJ,
lle Companies Act 1994 aild other appiicable iarvs and regulations.
Basis {or Opinion
\fs conducted our audit in accordance with lnternational Standarcls on Auditing (lSAs). Our
responsibtiities under tho-se standards are further described in the Auditor's Responsibilities forthe Audit of the Financial Statemelrts section of our report. \[e are independent of the Company
in accortlance witir the Inaernari{rnal fthics Standards Bc}ard lor Accountants' Code of Ethics forPr$fi:ssitinal Acrourrt;l[Ls (IESBA Code), together rvith ethical requirement that are relevant loor.rl audit ol the financral statcments in Bangladesh, anil we have fu)filied our o*ler ethical!.s;]onsibiiities in accordancr, rvith the IESBA Code anci the lnstitrte of Chartered Accountants ofI];ngladesh {ICAB) Bye Laws. Wr. believe that the audit evidence rve have oblained is sufflcientarld applopriaie to provid.' a basis for our opinion.
Othsr Matter
'l'he financial statements were restated due to "lnvestment in Associates'' {equity) of IMI LGP
ald Petroleum Lld.
Responsibilities of Management and Those Charged with Governance for the FinancialSiirl€ments
l\.lanagenent is responsiblc for the preparation of financiill stalements that give a true and taia
vrew in aecr:rdar:ce lvitit lFRSS, the Ccmpanies Act, 1994 and other applicable laws and
rcgulations and for such intemal conirol as managenle[t deternrines is necessary to enab]e the
|rrepnration of financial stitdments that are free irom material misstatemenl, whether due tollaLrd or elror
Registered Officei AhSArlD€tl, :,A, tl,i!rr:5 iajir io.,;i i:!c Flocrr, S,]thiaE, Dnikr'il0{, da|qaj.it.-lei: rl38t:-!an-Ula +j8c:-!{6-!Ca)5, {il| +8iij1:l:-llirla: *Jl-li:lla llll:lir. I'xi,i: f,Jaki iiliiva
:1?epare
.Datt
n1<,te*, F*naki & eomrpmny
FFnfr ee 6<q*rii ali*UffiCa._E REANDA
Chartered Acccu ntants A ccrrespondent firrn of Reanda lnternaticnal
[r preparing the financial statements, management is responsible for assessing the Company's
ability to continue as a going concern, disclosi:rg as applicable, rnatters related to going concern
anC using the going corrcern basis of accounting unless managemenl either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.
'ltose chalged lvith goverrance are responsible ior o!,erseeing the Company's financial
rel)firting process,
Auditor's Responsibilities for the Audit of the Finan€ial Statements
Or.rr objectives are to obtail reasonable assurance about whether the financial statements as a
rrhole are free from material nrisstatement, rvhether due to fraud or error, and to issue an
auditor's report that includes our opir.rion. Reasonable assurarce is a high level of assurance, but
is not a guarantee that aD audit colclucted in accordancs rryith lSAs will always detect a material
r]lisstatenent when it exists. \4isstatements can arise liom lraud or error and are considered
nJt.,rial if, inciividually ol in tlle aggregate, they could reasonably be expected to innuence the
economic decisions of users taken on the basis of these financial statemetts.
As paft of an audi! in accordance witll ISAS, we exercise professional judgment and maintain
proiessional skepticism throughoul the audit. We also:
. identify and assess the risks of material misstatement of the financial statements,
whether drre to fraud or error. design and perform audit ptocedures responsive to those
nslts, anci obtain auclit eYidence t:rat is sufficient and appropriate to provide a Lrasis forcur opinion. The risk oI not detecting a material misstatement resulting from fraud is
righer than ibr one resulting fronr error, as fraud may involve collusion, forgery,
intentional omisstons, misrepresentations, or the overrid€ of internal control.
0btain an understanding of internal controi relevant to the audit in order to design auditprocedures that are appropriate in the circumstaitces, but not for the purpose ofexpressrng an opinror on the effectiveness ofthe Compaly's interna] control.
ilvaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disciosures made by management.
Conclude on the appro]lnatcness oI managelnent's use of the going concern basis of
accounhng and, basecl on the audit evidence obtained, whelher a material uncertainty
exists lelated to events or conditrons that may cast signific3nt doubt on the Company's
ability to continue as a going concern. ll we conclude that a material uncertainty exists,
rve are required to draw attention in our auditor's report to the related disclosures in the
flnancial statenlents or, if such djsclosures are inadequate, to modify our opinion.
Registered Officer IH5ANDEl.L, 2/A, i.'ly*€rlsltgh ioad f.iil. Fl.rryi. 5r3fDaq. Dhnl(a-i0LlrJ, Bnrgladesn.
Tei: +t8802"966"C944. +B802-966'5095. Celir *360:?11-l063Cl 18811534'tj!,?50. l-nail: pinak_orOy€h0c.ftm websrtei rrwr.r.pinaki,.om.bd
t\-,.xdll\ctt Finaki & Con*pamy:.:lr,r.t.r'i:a /\r.,.ai.i r rl.i 11i
Dhaka.Dated: ?4 Noveurber 2020
iic;d$id;.w=& REANDAA ac.respoident irrn 0f Reanda lnterr}3tior,al
Our conclusiols a|e based on the audit evidence obtained up !o the date oiour auditor's
reporl However. futurc events or conditjons may cause the Company to cease to
continue as a g0ing concern,
Evaluate the overall presentation, stt'ucture and contenl of the financial statements,
ill]luding the cliselosures, and whether the financial statements represent the underlying
tra[sactions and evenis ]n a manner that gives a !l^ue and fair view
\te communicate with those eharged rvith Eovernance regarding, among oiher natters, lhe
planneti sc0pe aud timing of the auiiit and significant audir frndings, including any significant
deiiciercies in internal control that rve identifl' during our audit,
Repo* on Other Legal and Regulatory Requirements
ln accoldance wrth thc Cutnp.rnies Act, 1994 and other applicable larvs and regulations, we also
rep0rt the folloiving:
al we have obtained all the inFormation and explanatron which to the best of our
knowledge and belief were necessary for tlte purpose of our audit and made due
verificrtion thereof;
hl in our opinior). ptr:ptt buoks of accoutlt as required by law have been kept by the
Conrp.rny so frr as it :tppcared front our exanttnation of thr:se book; and
i) the statement ot financial position and stalernent of profit r.rr loss and o*terccmprehensive ,ncome dealt with kly the repof are in agreement with the tooks ofaceou nt-
)_, (,hlLa u?.oPinaki Das, FCA
Senior Partner
Negi5tered Office: insnl0fli,::'1. r,i\.'r].',:-i '1iiir ii.,l.: 1-:-:i..,: S:::i:bl' )rr!..-:)ijil.:t|!iad€jir.
JMI lndustrial Cas ltd.Stdrerxen! of Flnanclal Position
as at 301un.2020
:r0,une 2020 lO l!l).2019ASSETS
\lon-CurTent Ass.'lslroperLI. flant * liturptrr!i1: r.1i)r
&prr.i $irrr ln l'}roHferl
M".h:n!:reirr lfrn!r
lnN.snneol'n AiiU(,i'i,Total lton-Curr{trt Asrotr
Ar!nx(c.,.1cj),,\rl\.:n.: r(,iitr:r!riiL!,:!nri il.rri: ili:!\Sltur Ten lrtre\lhrrt'Crsx & C.\I Eliui!,lri,r.T0rrl currcnr Asrets
(apllal & l,'abililiesEqui!y
Shir! nrore! d!r,'s,rIotal gquit)
Non-Current liabilitiei-i€rl:r llan (air)D-currenr nrrrn,rilernr loin S:',nCrc.r.n
l,1,1b ti rBlrnsr LC IonC.rnrrtl,ense l-labrlrry tion Cun(ntAd!3i.e re.encd atair,r ri Ini$s.L)r (i(rrlnt
l).r...:l l'ar :r,hrl t!aotal llon.Currcnl Ii!biliraet
Cur'.eDt Liabilltics;f|x lar i{:,rnenr Lrr.,r , Ll
i.err? i.l,rhri (\ (:,ir re,
edvin.e r...r!ed ag3rn:t (t Lindrru'C!rrcnr
Lo,rr ilontSr.ter CoD.errs
Li:hriiti igrrnsr LC.(!rr.n1W!,.i,ng a:tr; l-,,n.I.i,rr:ti \ L)thd )..r.' :l-
Total Currrnt Li,rbrliiies
+.01
.1.03
{01{.i4
5
lli2il
r4.01
l:.0118.01
19
20
27
27
2.i
24
4,r19,363,271
846,896,503
{0.t.135,084
ss,t61,93S
220,591.239
1,801,873,{43
1 .222,353,026
62r,918,477
5,646,151,032 3,658,284,385
:.j
222.096.592
153.i24.311
186,r0;138r24,130,956
51.917,660
120,097,5t2
117,63+,322
14,989,129
43,376.205
30,137.677
784,846,000
462,612,704 .t16,667,389
14,01
15
15
17.01
r8.0r
3?
899,966,73r
t,755,544.a07
423.812,299
69286,535
367,918,12a
89,82rt,049
491,883,364
492,385,718
79 ,- ,447 ,010
172561,057
40.958,654
3,60ri,{r2,4{5 2,39A,235,862
240,995,000
4,151,236
33,437,947
208,597,562
372.751,O84
l,04a,soa,ll8150,312.t72?6.6413?2
-11,045.928
1?6.714,200
15,68052,t
1n7.442,834
1,0a1870320-22999t
28.80?,100
12,03i,936
,2,024,449
z,tt9,to2,4t3 1,2?9,610,3r0
Total Liabil ier
Total f,quit, and Lla
i{et Asset Valu€ Per
5,7?7,515,254 3,621,456,1 1-Z
6,590.r27,962 {,044,523.561rlrt
JJ 10.99
'i he d(com patrynrt lror.s am an i.t sral pr 11 o{ lhes€ linarcial tta tem.nL!
14.11
(ADountin BDT)
Ptl).rhi & Cornpnn!
____----:::.21!Eo __-19!Al1:19-6,590,127,962 4,A14,323,561
f--BoJr3Jooli 3r.s7s,.I4 |
I :oz,osa.szs I
I
llUI lndusrl ral L;ils Llll.
.,,' ] .
(iros\ l'rolirl(l.o\s)
{,pcr iling lirp.rs.\
11 r,L fr.rr i i\ ' i:r f,..f.
,,, ;.!ir',,.iririr... .
11 .: 'r, | .,.: ,rr..t llr I ,,..
\rt I'ri'lat htlur..rtlju\ur.rlr ut ll'f,t'l
\trf,orili)t(!.Ir\
J:
i.1
l,t(,
- l- ,- i
2S
26
270.963.184
89,{58.560
20,529,5r5
4,A56,742
29',492,699
94,32S,302
111,035,362
13,46S,57{
5C,925,826
{3,199,{76
,,r31558
6,334.016
{Alnourt ln SDT)
011u1y2019
30 luoe 2020
0l luly 2018
30 lurc 2019
Ll1t]} Total
:|,(r;t,t a5
?.a?0,250,3.14
:j76.757.6.15
s8s,001167
473,966,505
P r),rhr \ r,,nrtr,rr\
N.r prol!l ;ltor rilr
|l:rrr{ l,r ri gs l,!r
21,J17,079
44,355,39S
46,989,131 ?,224,0A6 t6,273,23a 27,34?,636::1.69 3.{2
149,.19.t,623 15.672,77{ 205,157,391 97,369,7AA
!11,469,1+l 1.r,625,3rt '26,095,1r2
73,209,010
29,599.925
7.)22,799
r r0,189,623
5,a54r13
roosaa
2{.170.t l5
L7,0{2 8r)ll !5,357,649
,l i.,31!
l3z,too,{94
6.tti,786
7a,96+,133
3.755.a2.J
I xo.e' I
I {oes8,6s4 I
iltl lndusuirl Cirs t.ld.'r;r.rllr' I i L_.. ,r l.iJ':
aoT
33,575,414 a15,56?,381
(12 021,948)
(102.564.0?5)
t{213-238
nil.rn(r rr rl J0lun{ ?010 71,766,704 a62,6tz,r04
iY1 In(lustli,rl (;is Ltd.
80r
lrrlnnt..r\.rt ul lulr,l0lu 40,.r23.000 40,64?,975 6,333,40r
lt,5:5,1t{
.,:.
I r nnn'.lxin \ rth thr \lrr' !hordr, \
lJ:;^::::
I n\h lkrw lroflr optr':rtrng rdirrtie!
1..'l r((riti'.,:i-.rrh linyn'tnt lo \u,rtl,.h iv orhcr.
Nel cash gcner.rled frorn opcrating activitier
l r\h ow fr.,nr il|ve{tioB nctiyitier
\..,.: r ll,..l ,..'1r,r. ii,,r) r: L,
lrr!..1r).rrl,r) A\,1 Lr.,lr.
llet.ash gener!le{l lrl,m irvestiDg irtivities
Lrsh flow from linancillE a(tivities
\n:rr! r:rtrt,rl,.,,,,\ r(l
! nLlL(,,li,,ril{).r 'r,a. !,t r,.jr:l
\\','r irnB,.rt,rr r. L,,ir.L,rr(a tl,.|,lt'1.flr io:r) rfl (r'r(l/ (t, , i,ll
lnrl,rc',nrpan),lorr! rr( or!.J / {?.ndj
Share mon{v deposrr
L-,.rhrir!y i gillrst LC
\er rrsh grrcr;rtcd ffitnr firaIrriIg.rctivitjes
!iet .dsh surplu!/{Depr(ltl k,r rhr t(n.
- :l:,
(rsh & (.ash f,quirrlcntJ rr thc tnd ol thr !€.rr
IMI lndusrrial Gas Ltd.Sta.emenr of Cash Flo*s
ended 30}un.2020
2.97 9 ,933 .945
(2,697.150.9231
(r0{,139,639)
(52,487.034)
7 42,129,590
(s20,27r,r30)
(1r6,407,1{2)
{25,568,5.1)
r ?6,1s6,3{9 4o,442,774
(r l l.5l
(1,040.106,138)
eo,taa,+7s)
70{.423,000
,. zo,484,31,4
i zti,2.7 4,t?A
519.354,167
1498,445,2n1
(30 2,658,975)
td3r.780,8231
892,385,748
165,496,513
444,757,838
225,019,219
33,026,000
{?96,542,7 6.)
(1,s38,0r6,908) (1,060,294,618)
r,439,640,5{: 1,00.a,ta2,58{
?7,119,983 24,330,143
!.805,934
5?,917,660 30,r37,677
{Amo!nr in BDT)
O1 luly 2019
30 run€ 2020
01 ,uly 2018
.10lune 2019tr
,6w
2.00
2.O'
1
l.ol
z.o2
2.O5
2.06
IMI lndustrial Gas Ltd.Notes to the Financia: st ements
.s it( & lbr the tear ended 30 June 2020
L€8al Form ofthe Conrpany
l l lndustrlal Gas Lld UICL), a lipin-Bingl.desh-Souah Korea private Ltd company. t/ras
registered with loint Sto(k Companies and Firms on l7 December 2012, vidc egistr.don numbcr C.
106183/12.The regrsrered oflice of rhe company is slr!ated at 7zlc, Progoi Shorod Mtddlc Badda,
0iraka'12 12 Ilingladcsh.
Nature of the Busltless Activittes
,Ml lndurtrial Gar Ltd (rlCL) engagei ur impor!, srorage, botthnS! and distribution o[ Liqu.fi.dPetroleum CAS (l,PC) as weil as Erhylene Oxide UAS (ETOJ.,IGL is the first company to in$oduceEthylene Oxide (t'I0) grs mixrn8 plant in Eangiadesh. The company has sevcral Auto Ga5 Stt6on5rnd LPC Conversion lvorkshop. The company has mother plant located et MaMarlbl&Earobkunda, Sitakundn, Chattogram and Sattellite Plant locatrd at Gozarle. Muhshigani.
Ba6ls ofPreparation and Present tlon ofFinenclal Stat.nr"Dts
Direclors' Rc5ponsibility Stat.m6nts
the Bonri'l o! D|lecrors ol the.ornpany rai{es rhe responsibility for the preparation andprcsentillron oi tliese lin.rnr rd: \talfnl ls.
Golnt Concern
When preparint the finencial statenrents. maflatement mak.i an asscssmlnt of the coftpany'sabllityto condnue as a gohg co0cern.The company preparcs flnanclal statcm.nB on a goirlg
toncern basis.
l0l ll|)prri or ( O\ ll).1.'
'ihc k,f id-19 hn\ dtvt.,,i,cd si..rfilv In 20r0, tutjr 3 si8nificant number of eprdenrics across theworld a,Iecring !he eaonorlr. aclivrrr('r lrroadl)' Bcrng operated in LPG lndustry, fewer restriclloDthave been imposad by govrrnm€nt, rather publlshed speoal SRO'S for lree movement ofvahicles inro.d and higilways as it condlcts businesr of peoples dally life needs. ln splte of thi! pandemtc
sltualions, thcre is lro reduction ofsupply ofraw itEterials asofnow.
tl.rsed oir th! i,1cts .rn(r .r'(urnstinrri knowr) iir ihrs moment JlCt, management beli€ves lhere is no
;rlenai {rncrrr.Inr!' rr.rr n).r! c.r1r .l)v (loubt rpoll rhc cntiry s nhility to aontinue as going concern,r'i(1 irr::., r'lrL..i ,1,, r,)( belrr.,,r hL)\ecver. th.rr tlre impact of the Covld-19 vinrs:;.,.,.!i r,r'.. r.,:.r: .1. i...r1..1,, ,..rfrf.ir. ,l .,,idrlron(,.illluidtrv.
2.04 Accrual llasis ofAccoulltitrg
,Ml ladustrlal Gas Ltd prepares rrs financial strtemenls, ex.ept lor cash llow ilformation, usinglhe accrual basis of accountr[g. Whcn t-he accrual basis of accounting ls used, ,n ertity recogrfzesitems as assets, li,rbilities, equit,, income and expenses (the elemenls of financlal statements) whenlhcy sati!ly rhe definitbns.lnd recogniuon crileria loa rhose elements in the Framework.
\lirterialil! xn{l lggrrgrlr)nllr,,r,.)flr.,r'. 1r .(rr'1.. r':,!r|, ir'r'r\ \!l!r,r1, ,, lL|.rir!t.l sr.rlrll1.'rts riril;u]!o, i)roccs5ing J
.,Igr r!rIi)ra,)l (lnlrJ(lr.,r,: r)i r'i'(r1\ (h.t(.ur rilIr'l,l.rtcd rrro.lisses acaordrng Lo lho nnture ofllrnation. ll(,i!.!'cr !ir('.Ilxpln!lorsnotoifse(-rsset.s.rndliabiliticsorin(oralc.lndexpensesunlessrequrrcd or pelrxrt bj lrls or IFRS.
Functional and Presrnta!ioD Currency
Itrn)s inel!rdr.rl il] thc llll.irrcial statrrr0nts ,trr lneasured using the currency of ths primaryr!(ojlorr1r( r\:r"L!lrltrrri rx \..l .ir ih. (lrrlp.lnr,)|i,r.itl.s.'fhr lit.ln(ial statemenE are presenled in
Page S
,Mt Industrial Gas Ltd.Not€s to the FillaDclal Staleme!ts
ns at & tor the year ended 30 Jure 2020
2,07 Us€ o[Estlmales and ludgments'lhe prcparatlon ol llnJn.ial $atemenls irl cork,rnliry wlth lnteruatiolal Financlal R.portlng
Standards (IIRS) requu t's management to mak€ iudtments, estimales and assumptions that affect
the applicntion ol accountitrg polioes and rhe repo.lcd amounts of assets, lhbilities' incom! and
expenses and dlsaiosuac requirrrlenas for contingenr assets and liabillties during and al tha datc otthe financrn) st.rtunrents.
Aatual results r .y differ lrom rhese estimates. Estimates and underllrg aSsumptrons arc ravlewed
on an oDBornB bnsrs. llevrsions ol accoutlrng esumates ar. reaognized in the period in whici the
esainrare is revised and in any fulure periods .rffscted as requircd by IAS 8: Accountint PolicietChanSes in Accountlng Estinrates and glrors.
2.O8
2.O9
2l
ln pafticular, signiricant areas of cstimation. uncertainty and critical ,udgtnentt in aPplylng
accouotlrg policies that h.ve the most slSnificant enect on the amounts raao8nlzrd ln tha fitrancial
statements inalude depreciatio& ,nventory valuation, accruals and provlslo!.
Strtcrr.nt of Compllance
The elements of 6ninclal statements have been meas!red oh 'Histoaical Cost' conventrofl b8b, ongoin8 coDcrrn uoncept and un accruai basis ln accordance with genera:ly aaceplad accouotlnS
princlples and practice ln Bargladesh in complEnce wlth lhe comparirs Act 1994, FtlaDcial
Reponint Ac(s (2015). In(ernadon.l A.counting Standards (lAs),lntemational Pinanchl RcpordnS
standards (lFRs) as adopted b, The lnstitut of chertered AccountarB of Bangladrsh (ICAB) and
other rulevant lawsand regulations applicabla in Eangladesh.
PrcGDlrdon oa tharclel Statemdits
Th. Frnancial st temehts are present.d in accordanc? with guH.lirls providcd by IAS:1
'Presenta(ion oilinanrial Statements'.
The Financial Statements Compnses ola) Statement of flnrncial Posrlicn !s at 30 lune lil20.
b) stalemenr of Pront or Loss and 0(her Comprehensive lhcome lor the year ended 30 lun! 2020
c) St terden! ofchangls rh equity for tle year ended 30lunc 2020d) StitemcrtorCash Rows for the ycar e[d.d 30 rune 20?0c) otes .omprising a surnnaly of slgr f.rrt accouitlng pollcics .td other erplrsatorylnformation to the linancial statern.nB for lhc ye.r endrd 30lune 2020.
0 Comparative information rn respect ofthe precedlnE year.
ofls. int'l he cofiprny !lour Dot Lllse! assels and llabr]ities or rncome and expenses, unless raquirtd orpermifted by lFllS.
Rep{rrtilrg Pealod'lrTlsIrlllrnciil\rrrrr:I,r:s.over1:nlo thsIerrotl lr!nlIlulr_?0I9lo30Ju:1e2020.
Date ofauthorrzationTilr Furirn.r.rl 5lnl.nrr,Is .Jl ,14l industrit] 6.rs L!d. lor (he period liom 01 Iuly 2019 to 30,une 2020
\fr a. ,ltrh1'nr.\i iL r. l!\t:r' ir .taaord,rnce r^,'it:r .r ft \.lLllot oi lhe Eodrd oi direclors on 22 Novembea
.ll:tl
Conrpir.rlave lnlolnratiolr{l.r'rt).r.,rrL.( .rr ,iri,'rLr, i iia: lr.ri !lrs!i(,s.ii ,rl (rr l)r!c(r!ding financial yclr f.r il:l numeriC.tl
illtolrxnlll,r LrL llif ,rrriirclili st.rtrnl!nts.ri(,rls, lh., rnrfrtifr.rnd d!sari,liiv!' intormatk)nrvlrrr!rf il !i r'.ievllnt,i)r underslJrdtng ol tl.! cur'rclll yerr's tinanaiJl statements.
rigures lir rhr ro,rpnrn vL' ydar h,ive b(err re-groupcd/rc.arranged wherevet aonsideredni'.i,s\,t.y to rn\urr hrttar con)[,trrhi]ity \{ll)r l,rr f0r ranl vrnr,
2.Lt
2.t2
2 13
{
Pate 6 &s!
2.14
3.00
IMI lndusrrial Gas Ltd.Notes to tIe Financiai Sratemen6
as al& tbr aheyear.nded 30lune 2020
Sigtifi.ant Acco!nting Policirt
Accounting policies set out below hnve been applled consistenrly to all yeers preserted in tiecrfinancial statements. Comlarative informntion has been re'arranged vrherever conslderedoe(essary l(J conlirm to the aurrent year's preseatniion,
Curaent versus Dot-curf ent classifi catiooThe co,xl);lny prc\crls isseis nId lj.rbilrties in st;rtonentofljDancialposiaion traaed on currentfnonauarrn! rIassifiailti.n.An asset is currcnt i{hen lt ii -
a) expeced to be realised o. intended to be sold or consumed ilr nornl:l operarlng c,vcle.b) expected ro br: realised 1^'jthir twelve nionths after the reportingperiod.c) held prinarily for the purpose oflrading ord) cash or cash equivalent uriesr rest.icted from tejrg exclranged oa used !o settle a liabitity for atieast twelve months after rhe repoi-ring period,Ali other assels a!'e rlassilled as non- ctlrrent.
A liability is curre[r when it is .
u) duo ro b.' sdrled ll,i!]rn tlvel,/e rnont!s after the repordng period, orb) held printarily tor rhe purpose oarading, orrJ there ,s no urcondilional rigit to defer the settlement ofthe liability rbr at least twelve ffonthsafter the reponing penod-
All olll.r linhillties are classified as ncn atrlentDiffe.ed tax rssets ;l'rd liahilitles ra. alassified as non current assets and liabilities.
Application o{lnternational Fltancial ReponingStandards [IFRSJ atrdlnterDatlonalFinan.lal sa.rements of rie rompany have berrt prepared in accordallce with the lnternaBonalfiran.ial Repolting Standat-ds 0FRS) and lnrernarional Ac.ou tirlg Staudards (lAS) ar adopted byTh.r llrstitute l}f Chnrrcrrd A.counlanrs oi Banglad.si (lC.,1B). The list oi apglied IFRS/IAS are given
rsL
3
I
No l,lame oaThe ^ccounting
Stendards RefNo
FrJranli"ll Sliit€me- nts
t:t!9r.!.c.n... ...
lAs-7Poli.i.i l lr'..i r ) g. r rr,\..!.Lrr.lr!
I:.... .r' t.'F..' ',,r. I'-r ,l
..I{i:?,1
!'inirDal .rl ln.truntents.Pl'escntatton tAs,32
7
. .....1fll$:9-.-.......
Sratus ofAppli.ation
Ar,!lied
Ar')l!ed
. ........S.p.!lied.-.........
AnDliedAppIed
tAS-16lAs-19 ADDhed
PaBe I
.. r.l:8i:15.
6,
i8rr f -orcrgJi Itxr'lr-r :rg{'
i0, i1 ,Relnrei P,irtr Ilii::o-<t1'€
l.l -lnr .sr: rrrt.; r r
. .11 Ptr shrre
1 nglir:e Asset:ti1il
il_
IIIrJirr :rena!: Disaio:iures
0rhgr F:ntiti.,\yi!!r !:rr. !!r. (!. ..
iAS.2
Alrrlied
:0
IMI Industrial Gas Ltd.Not€s to the Firenc,rl Statements
ns ilt & for there3r'])ded 30June ?020
1.01 IAS'i:,n!rnrlrrr..!
i|,,I rit rl rrr r'r, al r ]ll.r!.r .,1.i ir: tr,lri rt Jr . rr.'.riu_.ri .il lire rlrrr oa a,)st "lld nrl rr;ii17abir vai!€\.3l :.r:r,:ri,,r r:il:i. il i.lr .!:iix,r:.rl s.:lrr; rrlft r,r rLe ordinnr_v i.rurte (,f l)ri1rest, less th!rst:rr;i1od ao\rri .i a i)rirpli:r,,r) .:nJ rrllinll a)ipijrJ.t. Th.' rosl oi illvEn!a,rres js bared on tlte wfightedivir.til'r !Nflii)ai :rrll :n.:ilJts.:lfnil)tur! rr.L. r ..i r', r.qurr;,rg ::\! riiven:urLes, produati0n oI(rrjr1,r'1i.rl: .i].t! lrjd ,rlh.j .Lr!:. iijL rrreai rr !ril!rna !jlrrn lo tltCii crlsl:ot lrraiicn ix.1 .ondjtion.
:t.42
!li!.a .: i ::r I i|iri : i.tr: (,r.rri ! tlri r.,!t lr.rlieC Lr;-\ tr ti. (i.r. il ii:e suiearen! af iin.lnai3l posilionirr'1i:t, rlr:f. !rrrl',,,.r..rrr r'..f11.1!1 hut lhe [.li]li\'., rr!k hJs bren lriloslcn'('i till l0 ai1e dale oiii_.rtrr::lr'.,r::,.-i,.:i.\.lll.,r,rl)t:;frtt,r: .,\:.:,.1. irar(r1?!d,rj axfcxlei.
IAS 7: Staleli)ent o( Cirsh ltlorys
llnlr!:.lrio,f:srl:lur.1si.trri.ari,ljr.iiijiriillrtrritill.lS-7"ta.tttrr:{'lr{ll:r:iaIlr|.',s'irdlhtr;rsl) llo\i,s flor]l th.' i)|!riarng nari!tties r.rvc becl) 0reJL,rlrd rur,lca direcl method.
3.O3 IAS 8r iEcountlns Polacies, Charlges in Arcouolirrg fslilrrates !nd f,rrorrChangcr in Aaa0unting Poli(ier; lr r,r,!:!) .]rtrli .rrrii! rr r,..rrtIiq prrllr' r):r:i rl ilt..li,{it. r
irl:,i r.r.luri.,l 1,1 ,rr. 1l:RS.
ll,l lirs.)its ]ll.:i. l:rr.r1.i.r. Jirae::rr!as !rn.,.ilitl rr;idlie rnl more relelJnr iilc rntiln about [heuifart\ al tl.rrs,rfri,!rs iil!r {!,r!! or rontlilrrns on the cntilfs financiill posiiton, linancialt.ai!rruri.. t,r . rtj :lr:11t
al llil{S l6: Lr;t5r })ls ire..n ifp:r!(l r]trring the cuar!r]t re.lr retr.ril}.ctiv.ly.
Chrl}ges iD Ac.ounlillg n!tim;ltcr
.1 rh.rnrlr lr: .r.ro.-ir:frIlg est:|:.;lt tli .r:t adlu:tr:lfrt .i.!r! .rrrylltll itlnount ol li rsset or r iiability ori,ira .rxr,)u|r! li 1lt. irj.rrijr- r I l.ril]iitlrn .i :!n .!iri.t t:tii ilsulis iriln: llir asst:ament tl lhe present\i riri. .j .rx{l ,,\l)r.r.l ii;1I r lrri.iit\ :nd .rb:i!.r!ri],ts ri!:ii,.}rl.ri \rith rsji.ts .in.i liabihries. Changerr .r..1r!r::irj:; rr:,r:irrrr.i r'! ,rLr . it;ri itrt| t:tlir.rt<tlrrI cl l]rn, d{:rre,rrfn}r:r! ;ad, ;rcaording:y, ;re not:l |!lrrlrr.! fr'.,r!.irlrl tlrntr arl :rntt\ irra br\aa on nrtnagarrenLiudgente l.
!rrors'l'i. ,nll!r a.rrear! r:):ri.,riitl l'loi irenril .ir'rr-\ artrospt'cliltl-y !n the tirrt ser of lilJnciai5lattf1*rrls ittillor,rad iar r5a!ie ,tlltr lh!rr dialr;fpr! l):/:
,rill.iir;riir{l,lr..Nrlir:rri!!.rr.rIriiorlileflnip.rioC!:}reseraealinlehiclthee.rororc!r'rd:h l ii ii. t!'r r oicrrr.l hei!.c rh,r .nr:ifst frror pcnori pr.sent*l, r.shring th. op.nrng brlances ol.l'setr lr.)hillarr,i. rri , ijtitlI iir. tti. rirrtieat pa]rr prrird pf*tenlad.
3.0{ IAS l0i E!,e,tts Afte. the Repolti11( Perkx,li,.,e:rls aii.r' ll).:!.li!.t:lr: |crira .lrr alros€ .r.nli, iiryouribla rnd !ofrvotrr:b:e, that oc€urb!l\r.,,o !ir rrd .j ltr, r.ir rtlng f.l"tod ifiri rhr ti;tt. whr!r the iln.rnci.ri slatantenu nre authodzediira l-\arrr Tr!, i', lr!i oi *r',rrrri ai:r h. r{i.'11lrlri]il
ii) ihr!r ir.it irro,rui. (1.Lirr:f. r,l .clnlitio!! thrt .xiJreal .rt dre etd ol dre reporting penoiI,id1u:j:rri.l rrrs.:1,..r iir( .i l\ri:li; l)r.ri:il; n.iJ
ib) I..ie th.rl irr l1liiic.lltf. {-'i -on!llli!nj !hrr nr(,se aft.,r rlt. reportl,rg r..tod (non-icli{rsting. rani ! rtlacf I r:. J r,:iirir:; lrrr,i'a l
,\illurlrn* l:!rrri: rll:r1 llt,, r0f.rliIg |!r'ioJ lril provrde r.ididnnal informati{! about thefrn:}].r1rf r lr.ir{r'r .:t (ir. \irti::rrr'r! r: lin,rnrrr. p.slli6n drte arr relb.ted in dle l}nrnai*l:itlterlrrlis nr.l c!'fr1\ rflcr rirr rrt\IliI* |crio.l rlr.tl rfu nDt .]!lju]'ling evenrs are disclos.d in rhe:tn::a l1'itrr titJt,:t"i;..
PaAe 6
I
j
,Ml lndustrial Gas Ltd.i,lotsi to the finnncial Stalemellts
.rs ai & ior tlele3r ellded 30 JuDe 2020
lld*rrrr tlr.l. l:, rlrr ,,1it:rs:ir! r!.lll) ,1r.: rtirt!rirl rlrn .rdJustir'!g r!entt ln rhiJ financirler.rri,ir.r{5 :r rll .:,rl] i]i.r(. ,]l !ri|.ir !r,.,ulJ i{.,rr ili. nbililv rl ri. Lsers orlbe lirrr.ral stnremenlsi,r a.,',i.nrir, .l:lai l l,i:,:i .iil :-\ii rl.
1.05 lAS l2: ln.ontc k)ie5
In{:onre Tax fxl{]nses
3.tf, l''ls 16r Property,I,la 1 :tltd Equipment
Re(1)Bnition & }krsnr!,mcnt
Iriri]rl! tarli e:il)air1r\ irlr|)!isr ,.ii iJrfurlt aod dci;rrad tn:(, lllrailxe tnx exl:,ensri iiari aeaognized jn
ilr.tt,rl.xrer!i]lirl.ar!,iri.:!irar.unt1r.1rrlrri1iI)aal1,ia,lihrre(lu)ar.,tenirtIAS I2: lnailmelaxe:.
Cllrr€nt larrlri:i' ir: !".r..! ,:,. f1l:.rr,.i :.1 !,]liti,:r,r: ilr!'.1riialr:r.oril.'liJr the !ear, nrli i1ll! Jdjusrmert l0r.r:i lr,1r.ririP i:r :' (tr.. r ,jf irJii r.is r.,lr\ .lr :jrr-tirt Ir 1!ii.rl oi llrr.lll. Tr\ (,rdirliice 1984 itnd.l!,r ., r'iidr,l r,.. iri 1:r r.,iii. !r.r nrrr 1i) ii rxr ,1i r "l'jr'i!ilrr l-rlnrted CnNipnll!" r][,rfplirable texi . r!,, r1 :l:.:i) :
l)efcrrtd Ta\,riari.l iar ;s l?r.lnl!e!i tnr r,: t!nlpoala! diil.,fenaer Jnsrxal ir*t!!'eeo tie tn)i lrrses ofassets anlllirihiliri.,s aDd thei. (,ir'.,,,in9 aniotInts ilr tllr ,lr;rrcit] lrntenteDts,
llcler r(xi faa ,\!.rr nJrLi IAbiliti:s nrr m{'nsur tsd irt the rnx rrrf$ tllnt arc lxpe.teci to aFpl!, ro tho
ir.rtl)ri lrilrr tl:.,tr5t,r L,i-..]-tit?!C .r tir Lnbr:tr is sertled, bised cn lax rntrsltilvs rhn! h:lve bt]rn.ir.i.lir!l ir <i.lr!i.i|rllr,,r' i .::..'rr. tr! t rr !,:rrl (a rrtr f.ror!lt){ l)rrr.kll!i,,r'rrir r ir.r.,... L:;,1 .r.:.r;.(t l,i!.r.r1!r::t,.i.ir..,iai.a Il llir sr.it.nlent r,r iirrr(lni posilion ii ti!.rl::1 lrs ll.i: .l,r. r'rj ll :Lr if!i r iti:'aa|! lit! .|::itLlr:l\ :jtt r llat l):iJt5 .tnC ti,c drit.rad til nmo|lnlS.rr,-, irricii bi :i. 5,rr:rr' t.ilng JLuir) t; on th. \:r!:r. !1rtitl,, or !1iif.r{:nt enaj$es titt intend to realj?(l . i\. 'Jnl\rt: r r. :r.. r.rr!.i::r.,\.r.r,, :, ,..
'l'lc ij r]-.an-y iras rr.,r1:r;zei neler& r.rr usrlg')ainnce slll'tt medlod jn .ofillitnce with tite
|rk,r'iion,ri l.i5 : l l|r-.i,lr!'itr.r.
':ir. . r,s. .ri.rrr r:,:rrr r,r l,r (,i)e.:!. P:r)r i llqrrpnrerl i FP!lJ ts r.aogl)tzad .1s air .rss.t rl ,rio rnly l1-
r rl !r tlr)bahlf rlrr lii!.lr.il..rlc f.rJnor]lc barti* wi:l tlo11rto the €ttit1,; and. (l1r fost ot!hr fsol r:itr li! nre;sured ralial)l)'lf,ti a.. .reasu..n i d jrir,ri .d.rt l!r1 .'r i,iuinr*.1 depr.?cinr.io,l nnd a.crnrutnrrd lmpalrmcnrlo$r, il lln!, in (onl!lir)k lirth tre rai.luirrmcrt ot IAS 16: Prop!,rty, Plant & Equipnlent and IAS 361!lr);rirrlcll: rl rlrsat\
lniairlCo\l
ti ri:1tr,ii ..r\i ,,: ,,ii :l.rr1 ,,: ):,:i,.ial !:riil .i:iil tqiltlnri,n: rrfiul.s its frlial:.1sr frtae, nnd tnyilii-r.atl: .i:i.i1rr1.rl],. .i'i: iir'r.i! !:rl:i,r't il]';t:r:,, ]r.r rtrlirrdiblt vATIftrfs, .nd 3nl/ cost ro'l], rlgrr! tr)! ,i!:rl lr r:r.' l.,.rraiall .,lrii rrndiliiin laiaajsary hr ii ro be cap3ble of op(rdtrng it) t[enrlllnar inlendad hy lita rriioJg€nent.
Subs(.quent
iIr arJ! rri:-lf,ir ill! i),rir .ra i1r r:el:; ,)| i:r i.rf('i't',r. l-ri.inl ,ir.l tqJrlrr:1..t is re(ogltizerl in tir .arry1nEri)r.11ri:1]::i"- !rJl] iiil ,: f..irai.; t]i.rl trf ili(if. r,-nniJlnir h.1!ll!s enboCred \ritirlr the paarwilllr,r\r'r, tlr:ani]]l,rir',.1 :t:tt:.,r:l ,.rr 3r rrrn!.:rril r,:-r.rblr._lirr,,sraltiredry.to-drysen'jcl!1grflrrirrr.i:'j.|r,rrra ir.1 r,(iL,Jrrirj r r 1.r'.r',,!n:/(rl :f t:elr,olla:rril lr'ssiiccountnsandri,ilenlncurrld
Pndr l
lMl Industrial Gas Ltd.Ndaas to the finalrcial Stale]nen$
aj nr A fur the!.ar erded 30 ]une 2020
Dcpreciatiol
LJod rr held rn a irtrlroll b;sir rnd is not depre{iited considBring its unlir.llled useful tife-
Dr!)r.:.'.n.n :! rirr*r(i nr rll ""lhi:r ppE gr il rcduling balance rnethod. telrecialion of ar! a$at
brgrnr wle[ ri ir ntii:]|1. 1or !:s(. i a wlen il ). rn tl.' io.naion rnd condldan neceslary for it to be
arlr;rl)l'r oi .t).r.itir! ,f tIr: 0liln:lcr i}]tended l)! iD.rDagelneot. Deprealalion ofnn asset cerses at tha.,,rrli,.r i,l t!. (r,r? r:t. .iril,:.. r\ :l.isrilr.,J ns l-..i(i : I irlr rn a.(orda[.!" ,,rith lfRS 5 and lhe alatt tl]al!|r' rrsfls .lri. r:r-r.ril:rr.ilTil'i delreairlrrl rnle rs rr lr;l6usi
llass ofAssets Iune 2020 lune 2019Errldrng
V;l!llire!-\, & l!L,iph.rrr
Cr;rn.iersllrlli... !::r:]fi r.(J 1rrtr ;:iri,:.1..r.r..ri I n!t,r;laronl.l.nil),r1r. & 11.)rrtrrt.! i:.t.,,tlrr.rl0ih!r ailuiir,or.rJtF'urnilure & Fitlure
5%lOVo10%5%
8.33%1OYo
2S%i0%:10%
59{)
10%10%5'a
8.33El0q6l r,tii0%1ork
Capllill Work in Pro$'cs5
{:nIilnl rrork-rr.progress klr.srrtr lhr cr.,st $.rrrBd for rcquisitio[ nnC/or conrtrucljoll of ilemsol lroperq'. li;rnt nnd rqrrl)frcDr thrt aie not rr;dJ for us!'rvhich is measured a!.ost.ln cas€ of:npriltrC iorrrl)rrrnrs. !irl)ra.rl 11ork i! l)rogrlr55 rs rs.ollitized whex risk lnd r.rlvards rs$ocrat€d',!rt11 \uti r:!.t! ,ril la,rrrt.r'r!l rir llrr aorl|.iif r.€. 1ti tne rirl9 ol thrpment rs aonfirmcd bt the
3,0? IAS t9i Employee reDcfttr-iii. l:i]ntl.ix1 ri:,{ri;ar)i lr.i:r).{i llr)niribu.lor Pirr fo: lai e:igiiJlr lrermitrl.l]t .1np;ot:aet.'fheeli{i|)l:l11 is derl rr:ti,:.vr.f 1,,.r.r'r: t. Ltr,|;rc oil 1.i "...i'illr |)ipenl'tur. in r[. !rrr t{J which theL,,r'r.:Ir]tr.:r( .,'..i,.i ir,.' l:r,irifrx! r ,'r:1,.._\', r ifrt ft( ir.;Lrih :r{r hi i,,.trrgrl
Provident tund
TIe rofipsrll'irrl eiaahiishri! ;rn |lnre.oghlzed iurfunllail) (ont lrutory proridenr f!nd afhsme.Ailprrrri,n.nt frtploy.es (ontribure r(') ths provident fund and thg lontpanv aiso makes equal
'lir 1..:Ip-rr!' rrrog,ll?.. i i)lr.nl-rur]r)rt ro dclrx.,C aonlrtbutio]l plJn ns an expcnse whell an
r,rrlrr',r1 ;:.r: r.r,:fr.-,ii \rr f:..s :rr ilir Llrrr]l.rr\. 'I!. lelirl .rtd .crstfu.tive 0bl]*nad, rs I']xiled ioiir .rl::rrni :r:. i.(,]r'i;ri:ri_i ,i!ra.'j ra airntfrb!1., i1) l!a ,urI.
Group ln$u:'ance
'l irr .r:rJrirn! l1.r\ ri5r, .r larlr! risut]rii{, sailrrlrr [ar las !a:-r:l.il1enl anrrloyet$. pren',]!nt for whiahis b.irg char'llrtl l, st:ri!'rr.n! iri froljl llr :osi a\ f.r insLrrlrnce pol:.r.
laBe 10
JMI Industrial Cas Ltd.:$ores to ihe FinanaialSt2letllalltr
as lr& icr*l}ye;rerd€d 30lune 30:0
llorkrrs !itrtl€ipr{ion Iurrd and wel{are Fund
'l:1r ali,rrl,ir,! li.r!.iri.rrr.l l!!).k?:s l'.rrrrip.rr!1r Iruril l..orrplidrrce witl) sr.liolr l5 of rh!Eirur.lllr\| Lnl,o:.r' ..N l lla{i i,iNrr.icd 20-,3.1. 1"ar! rrpresenu 5!,i 6f ner proit before tiir nndt.irr:r lirriirng:11r .,,llritruirij 1. li'1,I lv !he i:oIr!.1uv ind is pr]ilrs ro i]rtellcii J is defi0ed r,]
aie :rrij .rv.' .rr:j iir..rrlr;!:r tir. Crrxl.iIy i3s iu:iij." Irr.ss.ry provisrotl in tLe bookl ol;rccounts
Skort-Ternr Irnplo]er Brjn efias
Sllrt.tr:r'r: r::rp.r,,r,r ]]',:rtlits irc:irair \ii,i|.i i)r)11usas eta. 0blig icn! lor !u{h beoeflts rrerra.rsili rl .,i iii rriJii;-i,,tir:ail ir.r; s .r::J .rte rrt).niad al tiie trirlr vJh€r the relnted ser\ice ii
:t.0I IAS 21r The gflerts of (hinE€s iD l-or..ign Ex(hanges Rates
itr. ; li.!i,-r.rl r:.r.rn:(,::ii:ij. |i.lr,rr1,i: .|iil pj?il,rrirlj it Brxglrd.,ri aurn cy {8!'fl, *.hich,s ric.i :rli,rrrl i l!rr:i':,, r,,' , ,i'r'.!.f ,lii lr:i.riiltl iIr'.irI.rtrol pr.i. !!C has been .runded olf to ttr
:\)., i,,r',;rtrr,:rrr,, r:,iri,r.r.r:r ir i-r, )riir.i ir1,rr.,l:r rt lir:.1t.oi rlirl:rnge pr.e.liii gatthedata,:,i ilri: arii,',r:tlr ir! i )r r:r',r:rr.i:l .r!irI.ir,rl ,,.,|i,,t:rr.,, ir rnjr d.,'t)r-.]ri1led ln lt)rl]rilll (urrrncies nllira :.i1r:: rini a.i:.,ii'. la,.r\lir!a,1 ;lt: i)1. .if:iita;rIlr r,):.r ii! lh,ta dria I\ail:ttga dltfsra.]lc" nll}es areairr;.J ai;i.15 1a!r,riur i:iaoD'raf..xltrr\dirura Jnd ir,trl been rtlotillled toa as !on-opsratil)lln.onrcllio(sl ir thr ilrro,re stllcrlr.nt with tllr l)rovis,ons ol IAS 21: The eiterls ol chauges jn
i{iin,Ilarlrl.r., irJri 1':,rl j. llreirrf!.1 rr,,.1 '! ,,i.,t',i[,r. jr\t ,t, J io{.tgr: (Jarenc}, ilany, js
;r l'..1. .,( Li. i: ' . ; : ,:,..,'l.JL5.
3.09 IAS ?:r: (apit;rlization oiBorrowing Cost
lJi]rj'i],..,l|]iii.la:!::].ll.il..]l:..ii]i:L.tl:1,:rrii .i5:.! ,r. i.i;,ii.L.r:jri :r'r ri:t i:e.s: ,rj rir.rr nr5et ,s ir,i.. IAS 2lr IJorror.,,ng cost. ?hcaJpil.tlir.rl ior ,)t.!r(':r irtfl.lrL]l! cosar arrs|s lrit.;t lllr "t!set ts rerdv tot l!lended os!.
:1,:10 IAS 2*: llrlated Party Dr!(los!r€l.ri;r!&l f.!lr r!,i f.Lt,n r.:nilt! tii.r! ls r.i.:tr.,.r: tu rh. entiry lrrel)tringiti linanritl stalensntsrtn\ r.Ilrii rr t,rL. .rar$l ,rj.r tiiL, f.rilrtt,.! ..lttii1-t !]-\ stgtljiititit inc!renae ovrf the repotting.,xlr[, i]r r:i .r :1rd xi..t ,,ii,r'i|i:trr]).ittmcnr Iert,,r:rci olrhrrcportingenrt]orol:rparentoftheleir,,(!)l) . lrl t!'
:..::,..,rili,,rr.::lr'':j,rr,rl::.i1! r.ii:l).iri,1r5f-.)!ia,r,r,,:(li!iat. liil 2.i llr:r:e.l ,,,r v Llrsc:csurts.
3.r t IAS 28r lnl,estmeors in Associates r d ,.rinlVel.tturlsThe f!nrn.ul sti:irn.nt:. :rr! prrlat..il itnd pr.s{rxrr.d ti$it}g th. r:quity m.thcd loa ih.:ssociale$ilrrln!:al:rril..r:rl inijlttit h!! lril .:!lrira: :t1 }rt. 1.15 ?8t hicsa*reils,lt Asjoeiates ard Joan!li.rlLrr'.! ;11..qrtlr:rr!iL,.i i: I nr,llod.1 ,r,-.rurlinE
",*erebl rie inveshr'ct is ilritirlly
raiD!r:r\r'il .r( f.!l .r]i:i i.ili,(ied iitti lJ,li,r tof t,i! p(st-.]fa,uisl:on arlangs ir the lrvcslot's Shatf oiijr irrr..r'. ., rlrt ,rs\r'r. 'lLi. rnrrril,,r :l]roiiit,r irsj in[](rles lts rllraeoftirc irv.srcei pmfitor
3.12 IAS:r3r 6nrni gs Pcr Siirre'Ih. nti.i rrr. ol i,iS jir i. t. !.es.r,llc l,ril)ctpks ll)r'11.t.r1xjnjn( itnd Ireserting (.)rnltrgs p.rsharelfPS} ro illrli.o!,e perti)rn1.lrrr .oxl)rrir,r|s betwrrr djfi,'t_.nt .ntrtiss ir d1e sanrc r.!ol-ting perildtr!rLl brr:,,1,i,.rr .i:rtrroti !.j\, i.trir! flr.rii*1\ iirr:.1 !.ir!r.r .r:t[]/.
JMI Industrial Gas Ltd.:,li,res to rhr !lnnn.ial Sutenenls
n5 at $ ior lhe )car txdsd 30 June 2020
Basic [arnirrgs Per Sh.rre (N umrriltor/Deronr inn {or}Blrl! lirS r:i.e;.riir.ri i,,.iivrdrlilr:)trt',rl.rss]rlriliriablet.rordiraryequitylloloercot(hecodr],{thr rrLrnr.!':rrirJ l,r 1ir,: 1vp:S.l.d ivernS. xirjr)hcr of or'drnary 5ia.rs t,Lrlstarding (tIeJ.$,rrirrr.r'i I ii,-r].lr::t irir ir.r-ii).1
Diltltr(j frrnlngs l'cr Sllirallirrri.,l i.li!j .\ .:iir.ri,r1,.l l)\. ,tct.l:iln: ihe e;rl1|rir, .totl xumbar ,, \Iires fcr air irfficts oi dilutava
pnofi s.1Dd ot!r!r altlurjr,{r l)nte!rr.ii ordlnary shafts.
3.13 )AS 36r lolp;lirnlenl of A!sets
.\aai:t",rilr,l ..rar aaI rr':r:rrl ir. iai:. lie ttt:lJ rrietr ilhethef lhere ls any !!d,a.llron that an asse!
m.I irr Lt:r1:.rrrcii .b\ rrir.wrri .rirrliLrrv\ .risclr rrrlLrdins pro|.tr!, plant & rqurpmen!. ,t rvas
i.nlirrr,'lllrllt)r'r.i\rrrrri.:f.rl. r(1 rlrlern.r iii"ir.rtors ofintll,rirmrnt o:5r.r(h rJJcls durntg the-.r;.:...,..'
3.14 I;1S :11: l'ro! isions, C()ritingerl Liirbilities and Colltingent Assets
I'i.r1-rirl)ri.i .1,:, r'.,.lr{nrs,rl ,,1lrelr trrriilr)llrny i.i,i r j)res.'ll: oblig;1aio'1 llegal or aonstrul:arue) as it
resui: r'ri.r p',r:t e,.rr,,. n rs |r,)b.rr:f lill' '|] r,rilill)* 1,1aerouraes atirbodying efo olllla benellls !{lll,r f..lxrir.l :,r j.'r.,. il,. .lrliqr!!)l i:iii .i r!.,iilrir raitn.l.]aa r:nx 5e ,r|3d! (l tht ;tnlourl tt lberDl:j.lali)ri i'rr'r'.'lsia,i: r-..r'rlr::;: li rirr.t:orari !rr i:r. b.st eslrnrr!! aJ dre exp.n,,.liaLrc requitcd !os.:i:e rir,, l,.!r.x. !i,li!:,i.1)ir .ii tiri rlrtr ol rarrn^r,r)r ,)l lilranaiil prit!tor).
ll r i. (.:l! i I i,: :r:. lr.rrr '; tr jn ii: it. ir:i,, 1! l).ilen,tl. ir u-rrtions ;irf di!aoitltiec uil)g n ar]rreri ]]a!-lrlxr'.t1. lrl.r r'.i].:i ,,rl!.r) ,rIIr'i)rr,iil rr'rr rr\ks 5l.ar:,r r.r ti:e iirbiiiy. When Cis..,roling is used,lhernLril.i!. ,l lla ptirl(,t(,n d;a :c lila Ialslrgt oi t]lxr Ir rrcoilnjsej ns il finitnca aost.
Contil]genr Lialrilitic$0oxtrr,,rrt li.ibr:ii\ rs .r Jl.r.r:bl. nir:igr}{r1 !hai.ir'rsrs n'om pisr elent: and r+ho}d extstence will hearll:rrx.ii i,llr br lll. .a.,rrre:t.i.,ii rlor!.cacLllralraa ofrilr or riore unceifair Flllure events notwhol.! n,ill r tir!'f, ,rliLr, ,,f.nr .ri"ri). ,rr
r pfe\(rl r'!rl:!rirorl fr.rl .1: r!es i.Jnr !r5t rynnrt\ !!l rs nnt recoglri!.rl i)aaausar
lrl ll r!:r1rl j:r,,ilrbi. rlili irr.iu::lrr,,il r.-{|uraar rllr$odllng raonoxlja ijen:fits lvili L, requ;red aar
srlri' ri,r r)!l jil;{joI nr
{ii) thr;|n(}xni niahe ciilijjdlio:i, nn3l,.measurd'!vithrufficientrllinbility-Contingenl Assets
i ..:rl,,rll':l! .r\rei 15 ii ir1!i::bi. rssti ilii a.!5e5 lton jxst elcxtri nnd whose etistenci (ill bea,rl:lllrr*d .rriv h,'iia i)..!rr:i.r.rr ron.l.aai]rla!a;:rl Jne or llxirrj ulaerlJin lrtrre eisfits ttotrr,ho.lv Lr,rtl,r:r t:rr r,rrrl'u: , I:rr rii:rt,i,
IAS 3Bi irtnngible i\srt!i) ReLognilion lrnd Ic]r'rreDlant
lrtangrble asser is rcroil:{2.,:l r'hq! ri i! prohiiJle rhill lhr r,rl1r!'a aconinria bene6$ dlar areiltrlbut"rlJle to the;sscr rtill ilou: t,i thr sntiiy;iud rile ccrst oflile ilsset cen be meisurcd reliably.
lxrinrlhl, .rJs.fs nfc rNilrr:ll' n:r,!s!rrri al .csl fhe rosr ol thc lnl.1ngibie nsse$ conrprises itrpllr.iir!. ijfr.e i.r1!rcrl arli!i trrl rlox'rlrliralbl. r:ll.'s and ilnr directiy attributalrls aost olirrri,rrir!rirr:rti.:r.r ir: ira.!J.il Lr{i. Iirgrx)]lrri n.oqniti!n lit,rigih]r L\set.! should be aarred,lI..cr a!\ ,ii:r'il:r'ru i.llr]rl .Iri)r_tl,'1;(trn nllal ilnpatn]]rit! iosses, il aoy
3,16
3.t)
IMI trdustrial Gas Lxd.)lores to rhe Finantirl Statements
,i! ]r & ior rlle )!ar rlrlel :i0 )url8 Z0Zi
Iri] Subsequt!l (rperdrruresrbJ.{u.r:. !rl).x.lrrlir. 1.: .i|iriiiT-...i on::,'1',i!.r, l,- i! lro!:}irl'r tirilt th! l to.R e.ono}r:t be efitsenrhod:(C l'tliri lir.iJ:l:irlill tl{),rrorheCo l;nydl1dilrcosl .irrr b€ m{.]s{irad rellrb}y. Ali alierer"firjriiiirri.. r11, ..rl){i)r}.-i ri tilr Slrtetlr.Ni ol p.rfir or hss ilrd othcr comprehiinslvc income
{iii},l|Ilorli?i!ir)I_li',
,1rirr.,ar.r!lr r:rc.ii!. r,l rr rilt,in!ill:a .is!r!! rrl![ ,] finite u:ieixl life .ihill br Illocaled on a
s) r!(lr1ill. b.rir:, r,. r. r'.\ Lr!.tul :ri.. ,1rr!.r.izirroo siiall lcgin lvhcn nssets alnilablc for urr, i-i. when
r!irirllrr,irlr-.i1,1)r{.l]11!rlir)lrtr,a!,i\.lr!io!rtlolrecnprbleoiolefrringil,]rhemannitaixrendedbyr:rallig.Ncnt r'irx{rflzrtlrl: Jlritil .t,1t} .rt tir .:.t.:ier oilht dntr tha. tht asr.i,s is cla$si1ied ar held
(iv) De'rec0BnitionA'l irr:rngrbit rsi,,t r! r1rr, r.)gnr,f,i ., dis!r,:,r: ,r' ryhen oo iuarre r'conomrc bcnel!!s .rre .xpectedirnrr r'.,. .,r ,lr!..,r.r. 11.1 rr.i ijr lr\ir! :rtrsri! ll!nt d?fr.ogniajoll ci irt;rngilJle assets. fiensured !sitl.. .i llaialrr'r l',:,,, r.r: r.r. irai l.itaflr\a, lr,rrreCr ,lrrrl t]:a ::irr!ilg itmoritj! ci the isseis iaeI ..,,;lri!r1 ii il i)ilt !r .!r.
1l$!ri!rr,,,re ;rirr'no inirnail)ir,t)s.t!.'1V|,1|. irstng soituare trasdaj on molrlhlt ahaqlt bisis $.hirh,rlr ;,rirrir€ru: .i::tj .ljrp.rl, rl;rg.a l. Irr.l'il r.l-ras;1r.runls
iFnS 8r oFerating SerintenLs
1lr. ,..n!iil rrlar"rs sefirile ir:tif]1).i!ron iboilt rhe operatlrll $eglr]enr ih;r rnsets any of thelirllo*_rrrg rilr,rrrllrr:ire rir {:Jhd;diii
i.!l ill t!l)ori..i.l rr'.rr,!r,, .:rii.:J;:t,l litr:]] jni.r lo e\aearlii austoilrats al1d i lersagxran! sa]es 0rta,tlr:t|r !, is lll i!,. .frt ri fi,:,r: .a llte aimhrllri rafen!a, intirnal ilnd exa*rnal, of all operatjng
1i)l l-:r'r rh:{r:Lri!:- ,irjrlrir)l ,,r iis r'rfor!.i r.d,l ,:r- brr is 1C pf: .!nl or nror! ol thr {reitrr, rfi
,ti! iiiir,, .ll1r,rrri. ,i i: I rirr , .nri)irrt(i rrp.rriia lri,ait Ili iil aperatlng segntrIlta rirat did no! repon a
.i,!jrlr.l lr l1iri,r, rjri!rr,t :,l]|r'rtrii,r.rri;iii,irt'riijl]glrlment.thi!rsioriedrl{rss
r':l lir r!\rli .tr'. i ir irei .,ri: i,r ir ,)r. i)l ii. ,,)Ixl)lrr!ri :rrs!rs oi rlr ,)ir.rrring r.drxentr.
llr)-"r,riirq :rj]lr, rrt: l:r,ri C, r.,: r:rr.i .rnr .,t i!: ilurnLit;iir. lhresirliis nla), br .onsldlr,rilralrt,rir!lt irriri :rp,r';riiii drsil,rtJ ri nl.1rJ{,rxrant ll.lieve:i Lhiil rnlolmallon aboul lhr sesmenl!r,o,,ill be usef,.ii t. :;sers i-ji tre irrilnar;l stll(]o1.ni$.
l1r llr rrliil! r:.,)r::i:rlJa,l .r-i!irr:1 :r:r;:,)arr_r,r)l rii lri(lirail & s!alraas, !1ie irse l!'les olproducas &*n,j.|\ !r d) rrr r.rri r ri)(,atrrjr,1 !.(lrx.r;. Tir-rr rr.r.r'ts r.lr jt)telljal r.pofiing slru(tuae of lhis entit_v
rs l'{rr.l tir lls t)r (jiir.l . rJ]ri. i,. xr.li .i.. irpl.r.r.ir.i li Lhr tr.e ol ilr! tliltem.rt ol Prolit .a Loss ;indil:l.r Ll\)ff f rriri,rriY. ln, irr:..
IFRS 9i Finan(iitl lnstrunrents
,i iiri!;raJ,ri i:i!irrllt'ltt r\.Lr'! a.It!.rat tlirt $r,!-t ri9. t3 linallalrl iJsett ilrd lrabiiitict or erluilllllslfllxla,]ts ni.ir:)tilaJ r,tii,l\"
;atac ll
,Ml Industrial Gas ttd.Notes to tlle t_inanaial Statemants
nr il & for the l,.enr erded 311lunr 3C21)
A] Fatr:rn.ial.{ss(!l.i
lirr,rni:i, i\irrr ,rl th. .1,):1|.r:r,r lnl]ludo ..r!r ;rrJ r.i{i irq!iri}L'nrs. ir;rdr re.eitlblt, othdrr1(r1.rl)lr.ri,1 ,i.,|:11 'rli\!r'rIrltr;.r1.:)th.r rnlt!. ilr...r! lJn) itriltxllt r?.ognired re(tlviblar orr
rlri,,lii1'rf:r!'i',r'.l::iIr::.,1,r1 .\ll -..:!31' !rr:r11riir. ..rijr,ri.i.irf r?,.ogri?.'d rr:ll]lit rn lhednle rl whjcil'i;, ..'::r:r.r::,, 1,,i1)t;;rr. :: lj.rtr :ri i-l:. .r1rfl r..lr.1i ifr!tir.u i1i ltle iiiitsaalir)t1. 'lI? fanrp,ltJ'r:r::,:,.;qr:r';r. ^! 1::1,.:r.t,.i ,i.ri?1r'."-::.rr, , :d (rir ',.,llrtr ril. arlir,l,ia!r:il !-rlits rir liohalJt:iots ,ar.'ilr..-;ri lha t,l!:i 1;,ri'. :,1]lI il., iia!i.|,! !\ilt_a Jf ri a .rr$far tirr' tiSla tri raiaiva lha tt]tltr'nal!ill lilshl.rr,.t,,n trr l ir.irlrr.rl i!art5 ir ii r-ir)iratr,rrl rr uilrh !rh,ilnnaiiili-r itl: tie rrsi(s;tnd re!rr.di 6ir!.'r',,ra:!ii! i I l:r, l::r.rr). ,l: ,lriiati j:r''--tit)lifr:r'.i
i. frldc.rllrl othrr r.,.t,ivables'I r.rJ. .trLl i,r:i!r .... !.il] rr ,1rrsrs. ,rr I]l;),rrl Irl.r l(]..r!rbia I'r'ori fn5lo:Ifis rnd oriii pnrri{r.'lr,)(lr .llrl olirir rrrrrr'.rir tr .rlr r!!)]lrr',.d iftii:ilit, .rt rrr,grlili il'l!!lrr nrt,J!ul .Iid slrhi!rprttiyrir..r!r:r('(l nt r:lr. r'l:r:r.r:rir:! rxli,Lrit..st !)i!titrli Lrrdt.:ltss n! the liear fix1, t{.hrch is nradc ar therlrii{{rnr.:ri na :l:. r::,,r.1gal).,|!,
ir ldr,rn(.. D!|oritr nnd P.epa!menti
.r.:,.,r,,. r,.:.,,,):rr,,.-1 .i|: :_i:i,.rr ,rI .,riliii.i. :1r,,:J:r'.a rlI{lll11ls inJ aiirric.\.:! Ji|ii(:p.tiaai
.i,l!.ii, r! .ra. :l:i ii,,! rri ir\,ii!i: .rt :)il r\11.r r:rll,rl aaaoi}illl1r-r rall'ana8s.lre aiaricd :t (oJl :!'sJ
,:r.i'.ri!'t'ir1.,r.1:r.itr','r:l\itr'.xir;fili-rr!lr.rr,irlrrirrlrr,ild!su.irsPP!,.irrcnloryi:..r.
lr i,l,,r.,:rif:1rr .rr| iril l,rll! nrensx) ea ir .{'st. Att(lr ir,i{irl r..oiIitlrn prepryrllenl.( rrl f,rrri0.l dt cosr
ia!.i .Jrrg.t lrr ll:i: sa,lt!rrEnt .-l urolil .r ioss,
iji. (:rsl rnd Crsh fquiralen!s
r,.r'rlr r.'r'lr,::r;,r'.ii:r,r tr,r.:i :.:r,,i ilrrr.lri.l,:l,ortti (.rih iail:1,,rlrnts ares;o t.,ftl, lilhi! iiquli:ti!r \irr).,,1! l1),rl .:.r '..i.1 r' .:,;r,,?aliljlr li, irr'r:r r,1ri,uxl: rrl aasi anl !titi::t ,lrr. $rl[ifat lo i]ni,:riir ..rri ,'... j r. r.i.i i 'i,: ..
ll) !irlal1cial Lr]li]ililies':if i rrril(irrr i!r liili,,' r:r\,d::i,res !it:,in.)"r: liillrlilltr. Ir i!J rlrlemert of iiian.irl p{}5ilil)lt \,!hiln lhell.tilr rr:r i',.r,).1!r .1 l,iia,,i1,.le .f,.lririfu;r: lrovl$lnn! oi lh{ iiabili!}, Txr a.xrl)ir)\ ,'1,,},ni.u\!!.: lrn:rnri,r: li.il),lrl,r r.' r.r ls.r,n[|.1(tLrnl rl,ii!;r:ur1ri :lrisiog fr!n p.rst cvenri rnC !he sctll.nlsnl: i1\!il:r,\,:t,,:r',ir, ,r..,rl.rj..I, ,rjfilrr,.l .. ii.i! r,,r"!...ra.osrrlrfrnrtty'lh.{,rmf;'rydc.Ir'rr,rlr1rs.5, lr'r.rrarr tL.iii;.rtl'l1.rr.i it! aalir.ralIl.rl irh:lgnro!ls arr lischar!l{:(l or rirlcalled, or,...1r', ri '1ir, ,.',r:11,,r:,r. i::.:ir'.] r:rrrliii.r L,,ril,rrir lfr.i!;nrl olhtr-ir.iy.tblf!
i. !'rade a'lai olhe.Ix,r,{bles_fr.1;a,in( athiri |rir!-rl);es;rre reai-,Snrs.ii \rirjn itj acnri]i:!r.rl dtrligirtjofls;rxrng irorn pirril erei)ts.tir,l l:ir \rr!rl.::rrll r,i L,';iia:t rs !t!tat!'d io re:iu;a l| nr oullior! ia)ix 1,hc {omfnn! rt r.ii)uraas.'1ir,,,ir,rlrr,,rrr::. l].:r,,ir( l rr! i:ril ,lir..lr.rrtrhl.r rr! f i,aigx lael li ltiri ly ;rt hi. !?lxr.
i:i!! la
lMl lndusrrial cas Ltd.\oaes tc' the Ftnrncial Slarrment5
as nt & lot rh. yeir ended 30 lune 2020
:J,18 l lRS l2: Disclosure of Inrerosts it Other Entities
T:re rrhrriri|r: {ri :lj:s II:ll-\ i: r0 r'j(iiirie ilr iiltrl! io Llsclcse inrormnrr0x rhat enibles lrsers of itsliri.rnar.ll ia.rrearen:! i. ..',,tl11{rie rh!, nrtLr., 0l :ind risli5 rssociatg(i with, irs ,nterests rn LhErrrrrrrsr .ri !lrr !l1r.r! lr'trr,rir' 1:ri.r:,sis :l Lis rir.rnriir: posr.:oll, llr.ncinl Fcrlormrnce and cashllLirl's
'f:rr i,r:np.rrr- rl.rs l :rir:r,€f rr 'lia(rcL.{e c.rnrprni.'-( ir;vrJg si!!rliairrl intuence l)ur nirt co lrarl.'fh!.li:r:s ari ll!,5a iIt.trsr!,1r..,isti)erts i) a;te associatr,c:irt pJ,a,pet.:v tnaorporJtao in the,ljrnnar,r..tilcntctaa,rl l):; ll"lLrsi.r.i: Gns l,tiIitL,r: ljlCl,) Llsing t.iui!v rrethoal is per IAS 28ln,.r! ilrr:ent ln i\ssoci;rres and ]i,ltt \rcl]tures,
Disclosu res of inLerests iD the Associales of ,MI lnd&strial Oas L jmited are a, folrowst
JMI Cylil)ders Linrited
l\Ti {lr'.rni.r:r,.rtp-i,.r'iurr{.r'-Li.irqr.i!r!riicnrrIi:rv,\rirsirrorporaredifganglrc!sronlanuaryi-: ial.!.is.i i)r'ir.rir l-rJri,l!Li ri,.rr'.rr!irlJ€ri)eL.rrri,inies,1.t.r99,r,,.1htieRegrsrfaroijoi.rSl..li (:,)|)|irIer rn(: Frli)s ! d. req,slr:rrio:: \.. C-l+ZS:ltl:018. i.he .egrster.d iJiaire if rtreaortrp;rrr rs slluiiirrl rr tl7 Kr,. \itTrui Isl,iitl r\\tn,'1a.. Lpvrl_il, llnnxr.t, Dhnkit. fhe companrengnSrs ri) mr.ulit.irifr!g 1)a::1: (\'|!s ol !viirrlers rei.ted ro rir. busrness ol l-pc presenrl!,
l!11ind,Jsrt'i:rl ai:ts l.,oti.e.i irnld +d,;t .rl its tDtalshna!,s.
lMl LPC xnd Petroleum Linriredjlll t-l,a r:d !)!:i.1)lrrrfi l-iirit!. \:r\ r,.rr|orirti,(i l., B.tngliidesl ,n August 24,2016ds a priyatel..rrra!dtornp,tni.rintl.rtieCrtrlrnt.sA.r. lr)!.1 !,,irh the liegistrar of.lonr Sk)al Con'panles nnd!.,-5. !i..i. :rq:titr.r(:oll .lo C-:.J:ri.+f,/2fll{i l}rc ra!{lsaered olrcc oi the conpanv ,s sltuated alr-l.r{1, Irr'()X1j1 Siorrnt. )1t.ldir ts:l{ir, Illaii.-i:12, Bilng;.rdesh. Th..ol:l}rant.engages rn!o l.lle LpCI |r.rtinS, rell:ling, s.lllNg, {lrstlrbutrng, et.. !rl]s.nr]r,this Loinp;rry rs ye: io star1 operarion. lMlIndtrstr:al C.is l.lniited irrJiCs 5a .10,1_ oi its rornl sh.trcs.
I'adma LPG Iimite d
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Padlrla CyliDder l,intitedP.rdnrir {iyit.rde: lt**e! r\.r pr !.i!. I-ad crxxpary;nl:t lras icgrsrered ,!rrh joinr \tock aompanrctird fr.ns !n 10 (lrobor 2ct!. r'rdt retislrari(rn nxnlb.,r cH-13,140/2019r'he registere.r orfrce oflha !,rmprnl, is situar.d .r 7,/;1, Iai(,,1.r lo!v.r .ltlt [.]oor, Lrnt & Itoad.02, Bo(k,C, llalishnhor,ll]].rrlr,g:irrxf. I)hit{:r,lll:: l.i.Irgl:rrirsh. Pr..sertI 3:.:t979i of i!s tctal shares ar. )eld by JMIlrrdirstl l;i i C.rt L-ir:iir-e,J,
SL Karnafully LP Gas Li ited':ris is .t pivate l,iC c0rxlnnt rnli \{as !-egisk,ied wilh loinr Srock Coltpanies and Firn}s on 01Septcmber 2015, viee reglsiratior: nu.lller eli.l l36g/201S, The regastered office of lhe cornpany issitu.tcd at 9, (losniidingn Barik !,,.ah S.hool Lane, Bandar, Cha!rogra$. SL KARNArULLY Lp cASLTD. is engaged in s!or.]ge, botiltng. nnd distriblllon of Liquefied petmleud CAS (LpC). ThecoDrpany has aiso Aum (;as SrarioD ard Lpe Conversion Workshop. preseirtiy 34.00% of its toaalsahares;re held b-v lMl InCustri,ll cas Limired.
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