ATLTEX INDUSTRIES LIMITED

139, Motijhccl Commcrcial Arca, Dhirka-1001).

CONTENTS PAGF,

CORPORATE DIRECTORY 2

NOTICE OF ANNUAI GENERAL MEETING 3

CHAIRMAN'S STAIEMENT 16

REPORT OF THE BOARD OF DIRECTORS 7-r3

CORPORAIE GOVERNANCE COMPLIANCE STATUS REPORT l4

FIVE YEARS' STAIISTICS 15

REPORT OF AUDITORS t6

BALANCE SHEET t'1

INCOME STATEMENTS ltt

CASH FLOW ST,q*IEMENT 19

STAIEMENT OF CHANGBS IN EQUTTY 20

NOTES TO THE FINANCIAL STATEMENTS 21.-36

FIXED ASSETS SCHEDULE 31

PROXY FORM & ATTENDANCI] ST,TP 38

 AttTEX INDUSTRIES LIMITED

... CORPORATE DIRECTORY -

BOARD OF DIRtrJCTORS

CHAIRMAN ENGR. AFSAR UDDIN AHMAD

VICE CHAIRPERSON ALHAJ H,A.SNAAHMAD

MANACING DIRECTOR FAHIM UDDIN AHMAD ARIF

DEPUTY MANAGINC DIRECTOR BARRISTER IMTIAZ UDDIN AHMAD,A.SIF

DIRECTOR (REPRESENTATIVE OF ICB) MS. DINAAHSAN

ADDITIONAL DIRECTOR M. A. MOHSIN

COMPANY SBCRETARY LIAQUAT ALI CHOWDHURY

OTHER INFORMATION

BANKERS SONALI BANK

Loc.rl Office, Dhakr.

AUDITORS M.A. MALEK SIDDIQUI WALI & CO.

Chartered,{ccountants

REGISTERED/HEAD OFFICE 139, Motijheel Commercial Area,

Dhaka 1000.

FACTORY Ariabo, Barya, Rupgonj,

Narayangonj.
 ATLTEX INDUSTRIES LIN{ITED
139, Motijhcel Corunercial Area. Dhaka 1000.

. NOI ICE OFTHE TWE\T\ FOURTH {NN L AL (;ENERAI- M EETI NC

Notice is herebl gilen

1 that lhe T$,enty Fouth ANNUAL GENER,{L MEETING of rhe Compan} {,ill be held
on Monday, Deceembcr I 5. 2008 dt I I i00 A.M. ar Factory Premjses of the Company at Ariabo, B arya. Rupgonj,
ransacl fic following business:
Narayangonl to trl

AGENDA

r) rturn the proceedings to rhe Twenrr'. Third Annnal General Meeting ol thc Conpany hetd on t8
t
iber 2007.
December
2.) Nider lnd rdopt the Andited Accounts lbr ihe tear ended 30 June 2008 iogerhcr \yirh rerorts ofttrc
ns lrnd thc Dircctors thereon.
3) rro\ e and declrrc a dividend as recommended by lhe Board a4 Tk.2.5./, per share of Tk. I 00.00 each
Generd Sharehoiders otherthen Sponsor Directors & Shaeholders tbr the year eDded 30 June 2008.
1) To elect Dir
ct Directors as per Anicles ofAssociation of the Company.
:) rolnt Auditors rnd fix dreir remuneration.
To appolnt,
6) lsact.tny olher business with the pcmission ofthe Chrir

By Order of the Board

sd/-
Dated, Dhaka. (Liaquat Ali Chowdhury)
November 17,20)08. Company Secreiary

l) The Regirsler of Mcmbers and Share Transtu Book of the Company \ri1l renlinr closed fron No\,enbcr
12,2008 to Dcccmber t5. 2008 (both dal,s nrclusive). DLrdDg this period no share transfer $ill be

2) A menber enLitlcd to attend and vote at the,{mual General Mecling lnay appoint a pr)x} to aftend the
nleeling and vote h his,her stead. The proxy lonn. wilh rc\enue stamp ofTk.l0.00 musi be deposiLed a!
the Head Office of thc Comf.tny at ll9 Motijheel C/A, Dhaka-1000 not later than 48 houN before ihe
time lixed for the neetiDgs.
3) Members are.equeslcd to notify change ofaddress, ifany, to the Comlany.
1) Pleasc note thatAGM can only be attended b) the honounble shareholden or prcperly constnxted proxy.
Therefore. any freind or childrcn xccomprnying with honurable shareholders or proxy caDnot be allowed
inro the mceting.
5) Admission to the meeting lenue !',ill be strictly on prcductlor of rhe attendance slip altached with rhe
 ATLTFX INDUSTRIES LIN,IITED

CHAIRMAN'S STATEMENT OF THE SHAREHOLDERS

FOR THF, YEAR ENDED 30 JUNE 2OO8

I take this oppo uriry tolelcomc)or allor behall of thc Board ol D trecbrs rlicli is x grcal honoL and trirllege for nre to
greenou all, oncc lgain, ro this:,lth Ann al Cenenl trleeting. Ii rs aLso maftt ofimmense ple$urc lor ne to presenion r"ou
the Annual Repofi shich includes lhe Audiled Fjnrncial Slatement\ a.d th. Direclors Repon fbr lhe year ended 30 June
2008.

Consolidat€d Ilusin€ss R€sults

Dcspite of slortlges ol natural gas, lack of adequxte financial rcsouces and political uncenaintl. higher l'' "r
l'f'n* i'
the local and inleflralional market, high rai! materielcosl especially oilpdcc and hallt dampen Ln the tertile indu(ry b) the
mair compedtors tou compmy was able to contjnue thc sales rolume stdble dudng rhc !c!r This ls only because ile have
Slrong backward & lor$ard llnkage suppon. added sone ne1l machinery in production line and ha\'c cx.elleir cnst mer
relatnnship Full delails mlt bc tburd elseFhere jn this tu1nual rcpon: horc.I wlll onll sumurize ou business re\uh\.

Consolidated sales amountcd Lo Tk 303.38 crcre. a decrc,rse of about 6.57'. on thc ycar. Con\olidated grosi income stood at
Tk.,15.96 crore r decrcase ol about l2.lgt for thc yearerided l0lure 2008

DiYidend

The Company has nade r net ptuft o1Tk. 198 Crorc bLrt it dec'eased o Tk 0.60 CrcE icl pro\idnrg defeLred tar
crpenses and the unappropnated profit h.s becomc negative in shln! holdcrs' equltr. Howeler coDsjdering the shleholde$
interest. the board has recomnendcd diridend of 2.54. to ile ge|eral \hareholde$ other thd. spon$rs dircctors &
sh.tr choldres trom dividend cqralizaiion resetle

Reriel of the world markets and the outlook for thc (urr€ntfiscal ycar:

ln the pcrioLt of mrd'2001 to caJly 2008, !'orldwide economic \leakness * a conscqucncc ot the sloildoFn of fte U ted
Stales eco.omt {as not expected n) malerialize lnsterd. the Europe economie\ looked nr bc utdcrgoirg a sriooth
rcb.tlancing along Filh l$gc tublic dellcits. irlxtjon, cnergy pric.s, xtd lmancial and propenr narkel insrabjlity, a further
risk to lhe economic outlookis prorecthnism, a soli Landing in the United Slate\. a strong !.d sust.tincd recove4' in Europe.
a solid r ajcctorr in lapan and buoFrt activiiy h Chinr rnd lndia Dunng rhis penod. Bangladesh also sufieled fot the srme
rersons except over taxrtion and for expofi ol homc tertile pro,lucts il ends ihe period {ith negative grcvth ol ( 67.) rs per
targe(S2g .39 .tgainst 5310.00 nrillion). But in last period It was 13.39% gro$th ds per targct On rhe other hand ircrease of
1

commodilr prices including olrice, sheat, fueland cdible oil hrve nearll doubled in Bangladesh slrce last year rnd cau\ed
the scarcitl, .t Lhc $orker! and cost ol produclion as rve have to increase the w.Lges lnd ovcnirnes of the worken whi.h
dnving up ouropemting cost. Besides these, thc ain obstacle in ourbusire\s is now lhe ri\e in rav nrterials such as grelge
f$rics and dy€s and chemicals. In addiiion to thd. due to the isc nr oil prlces me,lns that cost of sales has taisqd over the
year ended l0 June 2008 and will continuc to rlse. All the abole faclors combined Fe exFct d grcd hardship lor the
ra re\.
e 'orn
Despire the exce\si\e competidof rnd possible threat descibed above. you compan) ir now confidenl enough to exist in
the mr et as per present grafily and status afd continuousLy tlli.g to increase tumover in such a substantill amouni b]'
providing quality trcduct andseNice !s $cllas conpetjtive price lo the buvers.
 ATLTFX INDUSTRIES I,INTITEI)

Besides ihe adve$e laiables, dcscribod carli.r, lour cornfo\ \!!s lcry mrch quick and advance lo d.velop straiegies and
Iur grtrtcr cmlhNi\ on innol.Ltiof jn tertjle. add tio. ol neN mdchjnerv, .ecruitnent of the best qmljties employees and
rggresslle n narkehng 1or thc 1lholc pen.d olthe lin.tncid yc.tr This not onlv kep! the patronage of our.\ \ring.' \r.mers
hut al\o deleloped a fe! more ThN led Io higher 1'olun1e of production ard sales although the tressure on pa(es \\ds
coitinuoully felt ds a lesult oltheChineselhreal

The denraDd for the product ii e\pected to increase is one of our time competltors. Pahdan is norv going wiih seriors
polilical ,ind cconomic cisii md some ol our old buters xrc comnitted lo r.lrm to your companv. On the other hand to
compctc \rith othcs vour company is by divening huyers frcm othcr counties for receivlng brlk order and more value

Your comprny is still one of the market leaders n supphing high qualjly hone teritilc products rnd re are the besr
allemati\e to ihe well knoFn brands and rcLailcrs $.rldwide. You can fell protrd that most ofour leading custonrrs sees us
a! more as a suppiier of fabrics ard considers us an inportan! strategic partner ir the vxlue chair. \\e shaLl Look tovards
lur'ther strengthering thc liancc md coniintre to inrigomte our research and deveiopnent actiritics, focus more on
operationale{celleice ro remain compeiitive in rhe changing market scenario.

lor berler cLrslomer senice and smooth operdional efficienc) you company has shifted some departmem like IT. MIS,
Commerci!]. Flnance & Accounts, Adminisration and Central Prccurement to the Site OfUce. Thls wlll result in nuch better
co-ordination inproring custoner se icc lhercby. YoLrr conpaiy will eslabllsh a ccrtnl pllnnilg department for smoother
orderpla.ni.g and monito ng.

Nlarketing StrategJ

I an happJj Lo nole lhat we halc bccn ver) successful in brilging nev burers io ihe Conpany like. Ikea Asia Pacilic Plc,
Hentex etc . \bur Compan) shall conti.ue to expand its buyer base through djfferent metlods and rcvicw the existing
nethods in light of the difficult situation that $e lace tion 2005

\Yith our strong focus on ditrerentialed, innolatile and !a1ue added products, qe havc strcngthcned ou design team and
.x|odcd ou. pr)duct delelopment dciivilies. \Ve dre regulull participrtnrg Heiniextile Fair ln Gemany and our
Spring/Suffner and AuNnnA/irter Collcction Nas highly appreciaied by the custom.rs ilhich enhanced oul repuiation and
increased our vjsibility h the jnternaiional markei. ]n addjtion our condnued narkeling pollcy of going lor qu.rlity rather
thin !olumcs lcd lo significant rcduction in the rgent's conmission and treight.

Operation and administration

The yerr 1007 08 lvas another challengrrg year for )our compmy. Although there $ere huse uncertainty causcd b) the
unstlbh oil fdce irnd the ensuing recissnin i. US od Eurcpc where osL olour buyers ere located, our overall operations
lvere not allecled significantl] and wilh the best end€aror of our fufctional teans. ire hare able to kccp our tumoler at

You companys High Qualit) Product lnd elcelleni custoner rclatioNhip hclped us to nake ou. sales volume as smooth as
previous vears As a re\uli of oLlr coniinLrous concentration on more ralue-added producls and higher average \alue
Mlizalion. last year )our conpany erned relcnue ol Tk. 303 3E crore Allter Industics Limited achiered net profit after

Faced with the risifg cost ofsales. you Compan! felt that it hNd Io lake rctive steps to reduce or cortrol lhe adlninistratilc
cosl sincc thc cosl ol \al.s ard rnarkcrnrg expcnses vould increase in order io support the Comp:rny \ increared sales Here
Re are proud to say that. as conpared to the overall econonlc conditio. and trice inflation of the local and $orld econom)
mentjoned earlieri )our conpany *as dble to reduce the totnl operaling erpenscs b) :5..16{" vhere as sales volume reduced
oDlr- by 6.579..
 ATLTEX INDUSTRIES LIN{ITED

Alhci ]ndustlic\ LiniteLl. a onestop nunulactuin! and \trtLcJ L) nttgtJled taclll} t.{ $ond c].\ hofle le\tile' The
.,",' ,Li,-,oco,.r'.. l. .r ,* .0 ",.'cd -r thol r" l l
r.i1i.. ," rr. rhc buirne \ tadner or rhr \ortr1\ ,cputed and rop ra.king cLrsromers in he iieLd of grohat md
'e\tites

Since rhc incepti0n Athe\ bccarne rhe p()neer of h.d hunrirg for dll !l rherr fields $rd successlulll-^accumuldted the best
i.. i'l rlLll tt," rs s'eu as liom abroad :rnd could nake an excelleni en\ilonment to flOuash lheir qualitjcs
"r",ri,
-*try ri. process otmamtucturing. maintenance and of course in lhe mNagemen!
?i,t L_inab tLrie' Lr\ u!tLz$e rh;f cJDrerlres rn
the company'
rn h,,r'd rr h ch rr srqnrrL.anLlJ , ontr;burrnr rherr hr:hest efors for the conliluous developurent of

making
As a marler lcader Allter lndustries LLd. is coniinuously etnphasiTing on the delelopmcnl of lumdn Lcsources dlrd
reas()rabte lrreitDcnl lbr rcqunition, delelopment and reiention of ta1€nted rnd dynanic prcfessionals. Your conpanr has
.*.'t".,,*"*torudnLnc.allu.anonolr.sponsibililles&authodtv,perfolmanccappraisal.jobenlar-eement&
.i,t.t,..n, r'Lons n,rl ru.Lr an cnrrronmenr. "lttr is co.ducile to individual gro$th ard motilatcs employees to pnt in
iheir ben eft'orl lbr achie!mg proper rnd delined oryanizalional eoals

Envn onment and Conpliance

Beinc thr DLonccr alLd one !t thr larqed LUmprnJ in lhe mduslrt: Alltex Industries Linilcd always pefoms the social
n.tna'ement
_,oo'n,,t ,riL,es mA."rr.,rr rhe.,riom irJ irumptiance irsues rt each and every lelel of production and
,, r.l.r .t.t. tt." th. -.,,Lm.nt ot ro,kcr iihere thc relellrnt clauss of thc law and ILO 0onlentions are properly folLo$ed
and ends up $ith lhe shipping of thc linrshed loods through Custonrs Trade Partnership Against Terro
\n(C-TPATI

The companl ensurts abidirg b] Nll lhe relelant instructions for Hcallh, Safe!) and En\ironnent Conr'neri'n RrlP!
mtcres. Fre ard Borts nn,ntenun". rnrrru.t'on., rnd all relevani requisites of lhe country Lhroughout the cnLire Allter
(PPE),
inLlLrsrnat part rs eaLh ,rn,l indj\Ldu3t un L\ de ib djrg by thc said rules. SulTrcicnt Personal Protcctile Equipments
Safet! Eq ipments akrng lrith necc\sa4 lrairings lorhvgicne ard slfetv
vou' coipany is \erv;onrmitted to prescrve a heulth\ rd P'llLrron-tree en\ rLrnnr(nt \e htrvt d \en effrcienl waste
collecrion antialsposol sysrem All o;chemicrlll'ronr;minrted\JrerItrIdtedaIr\olhi\Lrcrtedellluenttrcamentplant
beforc dxcharge. ir ortler ro rcduce alr poltrLion by exhausi gas i.orn gererators, it mainiains a wastc heat reco\ery
plan(
that uses ihe e;haust:a! .n generate sre*n ibr chiling unit. Abole easures nor oriy hetp keep the \arer & au lrcc liom
poLlution brtalso help sav€ co\t of water treatncnt & a[ cordilioning'

Conclusion

we have starled rhe ne$ year wirh eronrous orders nnd sufficient producdon o,rplcities. our expansion units ale Prd! to
Dedorm. I Like ro iake ihi\ oppoL.runiry ki sho$ my appreciation and sincere grrtilude to the lrlued shareholders,
'"outrl
agencics. emptoyecs, birks. firancial instilurions, suppliers ard to orr customers for {helr unforgettable co-
ioremnent
i,o"ration. 1,,'iacr vou a;c ihe real srr.ngrh 10 ovcrcone rhe chalterges in our wal. I am co,,1ldent, thai $ith your
n;derdrniiing and siLpport {e willconllnue to build on ourcapabjlitics lor susiarred high perfonnance in firntre

,{gain I olfer lnt heddes!lhanks to all sbareholden fbr theirsuppofi du ng this year'

Allah Hafez

(Engr. Afs Uddin Ahnad)

Chlnnan
 AttTEX INDUSTRIES LIN{ITEI)

\Ir. Fnhim Uddin Ahm?rd Arif. lvhnagirg Dilcctor of Alftex Irdustries Limired is .eceiving dle National
E\port Trophy fi otn Colnn1erce ,{dvisor Dr Hossain Zillur Rahln.rn.

\lltex Industries Limitcd has been a$,ifded tbr its ouNlrnding expod achiere enl s,ith the prestigjous
r"0tiural Export Trophy for lho year 2003-200.1 at a. a$ ard gi\'tug ceremony orgenized b,v dre Ministrl of
Conucrcc and Export Pronrotjo Bureau Jointly.
 AILTEX INDUSTRIES LIN,IITED

DIRECTORS' REPORT TO THE SHAREHOLDERS

FOR THE YEAR ENDED ON JUNE 30, 2OO8

Dear Shareholders.
The Board ol Directors q,ould like io presert the Annual Report together with the Audrt€d Accounts ol the Co panl, tbr rhe
yedr ended 30lune 2008.

Financial Resultl
The gl\)$ tu orer of dre Conrpmr stood rt Tk. :03.i8 C.orc in 2001-1008 Fhile rL was Tk. 124.?l Crore in 2006 :007
Fith a decrease ol6 517.. The achievcd lumover 11as decreased by Tk 21.-15 crore. The abndged posltion ol lhe Company\

Yearended Year ended

30 June 2008 30lun€ 200i
000 Tak, 000'Tata

Gross Turn O\er 303,37.78 324.13,46 (21,i5.:7) 16 57q.)

GrossPtufil 15.96,r7 52.70,3E (6,r1.:0) (12.19%)
NetP]ofir 1,98.09 1.76,05 22.01 1)..52+

Net Profit and Approlriation I

The Conpany hrs made a Nel Protit ol Tk. 1,98,09,211 (200tr Tk. l,?6.01,611) Nhich, along irith
dtrpropridted bala.ce ofTk 1,16,40,282 (200?r Tk. 1.61,9.1.238) give an ur approprlated anornr ol Tk. 3.74.49,193 t:00t:
lli 3.37,97.882) $ hich your Directors propose to approprlate as follows:

30 Jure 2008 i0 June 2007

Taka Taka

openlng Brlance (as on 1sI luly) 1.76,40.282 1,61,93.238

1.98,09,211 1.16,0.1.641

Available lbr Approprlation 3,11,19.49: 3,31,97.882

Less :Cash Dlvidend r,61,57.600
Un apptupriarcd Prolit 3,?1.19,193 r,?6.40,28:

DiYidendl
ftc Conpan) has ln dc r ncr proiir olTk. 1.98 Crorc bur it decrer\ed to Tk. 60 (Sjxtv) Lrcs xfter lro\id g delered iax
eripeffes and th€ umppropriat€d profit has become negatile in shaLe holtlers' equity. However considering the \hare holden
inrerest, thc board has rcconrnendcd dividend o12.57. ro the general share fiolder\ other thrn sl](nrsor. ToLal dividend 1br
IJ ,',(. ...ro\.p dfn d rderd equ,hr. o
e.e..
Directors:

As per Ajticle 102 of i\€,\iicles ofAssociadon, I4j. Fahim Uddin Ahnld Arii rclilus by rotation ln lhis Annnal Gereral
Nlcernrg rnd bejlg eligible, offer hjmsell for re-elecdon. Your direclors are reconr,nending for hls re-appoinlnelri

Nh V.A Mohsin is wo*ing wit! us as AddjlionaL Djrector rs rvellas lndependent Director as per condilior no. 1.2 oISEC \
nolilication no. SEC/CNIRRCD/2006 158/AdDin/02 08. As per lerms of Article 94. you are rcquested Lo approve lrls re
appojnlment in the conpan).
 ALTTEX INDUSTR.IES LIMITED
N1rMdI anc r ivii. CenerllMxnil:er oi ln\'eslment Co I trron I i B rl Jc' ICB J ! rt" its'trdol Dt"lo$ oidr'
,,;;,..,:;.;"";'.,,"'.,
'
J rB'L rrD'
:.'"# ; ;'";l:;il;:i";, ,,, ; i;;;,'i,J M."8 trus bedr N'nured r'1 I( ! i!'o diJtlr'r rhe inre$r n\ rdr rs

i n^11., tdh. ".. "h\dn \' D' r

D'3'"Ib o ' L' oo r'

"l
ccporllc & linmcial RepulinS:

i)Thefinan.iaLslai.ncNprttiredb!thenln|lcJnenroiLh..o[!ity|Ese!l.dtit]lil;stxt.ol]llx]NLhel.\ulttlilslpcjrliols.
.ash lo( and chanq.r i. eluitl
I,lop-bookj olMout\.lrhc onpal) hlvc be.n rnaj lrlned
iii) Appolfrle A(ou.drg Poli.ies hav. b*r consirr.rdv trtFli'd in ptpo{!.' olrlrc ft rial srxrcnienrj rJ dral ihc rcronltrnt
cniN€5 are b6cd o reanmrbh and ti trddn ludlJndit

aDd r.y dcldrLue thu n h6been ddequatell disclo5'rl

nonilor'd
r) Tlre rFren ol intenal umrol ar. vrund ii dcsilr aid hrve bcen effcctivelv nlllcrne'r'd '!d
\ir There de !o silnlficant d(iubls upon lhe CornPar-,_ s lbih.v lo cdilnue ar x goinB concdn
viil Therc !n io iiSnrucinr do iarions ftonr l.sl vcr in op'rating rcsult oi ihc c'tiporv
!lii) The ke-y apoatine and linaicialdxn olprccedi.g livc v' sis'dNied'
Board Meeling and atlentlance.

Dutns$eye&ijvc BoardNleelii-es trde hdd Thc.tendlnt En .rtlt DiFdors i5 a bllo*s

Mcctins ltended
Enrr. Aiiar Ud,lin Ahnud
l
5
lvft Fahid UddinAhnadArii
5
Brnister lixixz UddLn Ahnrd Asjj
Mr Md. Jaharln N'liah
l
5

The paltern of Sharc holdings are .s follo{si

i ) Pxrenl/subsidiary /A$or iile Conrfnnies md other rltrted ldGs

Sl. \0. Nade

t ,1.8{.101r
l
Br5ru Shihi Colldirio! l.irnnd L l1z0rl
5.12.n00
l !drellds| ChcnLcd Conplcx (P{ )LirniLed
= t,lt,?01r
I
5. A!Lre r D,"'cin! Fnrishine a.dPiindDe NlilLsLimned t.i.l00

Lr esunCu[he onda\tllfeTrust
 ALTEX INDUSTRIES LIMITED
ii) Dire.Ior, Chiel Eiccutilc O1'l-icer, (lonpanv Secreruy. Chief I,inarcral Ofll(L Herd of errilAudir rrl rheir SNlses
udminorChildren

S No. Shre Held

lnsr Afslr llddin Ahmxd Chairnr!f I l:1.1110

J Xlr. tirhim U ddh ,\hmad Aril NlaraSirS Dftc10r 5+ llot)

Bar sler InrhT ltldi Ali mdA\il D! Vanrsins l)jEcILrl 1t.100

5. CliclErccuri!. Otl ce!t Slronse rnd minor chiktu. Nil

6. Co pant Secler.u). Spour. rnd inorChildren. N1l

Cl efFrrancial Ollicer Spou\c minfr Childrerr NN

8. Hcad Int.rnrlAudit. Slou\e rrd mnor Ch Ldrrr NJ

NI
jrlShareholde'\ hoLdirg ten peLcenl1107.1or nrorr lning i eresl

S \o Nme Share Held

BJ.ru Shjll,iLjn i .Ll l.rJ1.L00 Mi ron(J n ln, rt)

Brngladesh Chcnri Comtle\ (P\i I l.idrit.d 5 r2 N0| Nfcnriorrd in sLDo i (3)
Becum ahldreixnrn [].lbn. Tn,\1 6.01).000 d
.1 ICB Unitlurd 9.05,800

Bemg eligiblc. Nfi\. \'IA l,lt]el Siddiqui Whll & Co Chafered Accourrart\ express ficir $illhlr€ss as lell r\ offer
ih.Nchcs wirh due coDseniforappoi mcr|baudlt,L th.C,, fJrtorrherirrnlcLl I e rir.1009.lino D recrors
h!\e rconmended their ippoi Dr.nt

\'our DirccuJ rrc pLe.rsed io e)ipreis their si.corc thanks and a|preclation lor rhc rccc"\arl cooperriion .lid sLfpufi
;\rerded ro )orr Comprn! b) the shareholders. torei:r bu)ers. supplicrs. hulers. dre aLrrln ri.r of Securiiie\ rnit
L\.hxnse ComJnission. Dhaka Srock Erchafge Ltd fld Chirrgong SrockErchangc Ltd

Finall! dre Bodrd ol Djreciors ol NUr Conrpuy .\prcss.s it\ dccp rt ileciailon lo rll Norkel'. \rai ard oUtccrs lirr rhetr
lr.\ih\. ded cation a|d hard qork dui.g the )er dnd hoF\ thdt rhey {lll con(iru. to keep rtre spiit ot rtr.nr i!o* in rht
.omrn! )ean tbr lhc smoorh ftNth ofthe Co panl.

Oo belallol the Boallol Dtroctors

I ahim Uddin Ahmad Arif

9
 AIIIEX INDUSTRIES LIN'IITED

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 ATLTFX INDUSTRIES LIMITED
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 ATLTEX INDUSTRIES LIMITED
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ALLTEX INDUSTRIES LIMITED

CORPORATE GOVERNANCE COMPLIANCE STATUS REPORT

Status of conplirnce with the condilions inposed by the Securilies ard Exchange Conn ssion's Notificadon No.
SEC/CMRRCD/ 2006- 15 8/Adm|t02-08 dated February 20. 2006.

ComplianceStal$
Explanxtion for non
CondiLion Tide (Put (14 in ADproDnate Column
compliarce with the cordltion
No.
Complied No! Complied

t.l BoardsSiz. '|

12 hdepe ndenr DrJecror:

1.3 Channan & Cirief Erecutive

1.4 The Dircctors rDorr to Sharehlden on:

I4 (a) fainess 0l Financjal stalernents.

(b) Malftenaffe of proper book of accounts.

1.4 (c) Adaptation of appirpiate accounling

1.1 (d) Compliance witl Intenatlonal

Accou ing Standards

.1k) Soundness ol Intemal Conhol Systen

1.4(ll Alrilty to Continue as Coll)g Corcern

IaG) Signifioant deviation Iiom lalt year

1.40) Prsentation ol last thr* yea$ data

r.4 (i) Declaraiion olDi\'ldend

Derails of Board Meeling

110
r.4 (k) ShNr€holding Patteri

2.1 Appo nrmenr ofCFO, Head oflnkmaL

defining of
Ardltand Company Secrera4 and definrnrof
ther respectile mles, responsibiLties and dulies.

2t AneMame of CIo and the Conpany

Secreiary at Boad ofDlrecto$ meeting.

3.00

400 Exhmal/Statutory Audjto$:

500 Reponin g rhc compliai ce in the

Drlecto$ Repod

l4
 ATLTFX INDTISTR IFs I,INIITFn
FIVE YEARS' STATISTICS
2001-2008 2006"2007 2005.2006 2003-2001
finAncirl Position :
iudnnised CqrtJl .000.00000 ^ .1t00 , 00 ., .. ,
' 000.0
^ ..
Prid{pCapilal ' .u0000 rE0.000000 or0l0.L00 l ' 110110110 r^r , rn
Rsen. & Srylr 1i3..1,1i.609 :2:.290,t$2 ::3.E4l,Ilt 2:5.r9i,51li 25E.01!.1:l
Shu droldels EqLLilt 6,11.4.15.609 102290,28: l()].Sl.r:3.c ilx,r!5il6 a itE.0r9,r2l
,516 i
T.l]]Lonsl!.n D.bt 62r.491,630'10t580,j'18 215.3:3.121 ilrC.Ijf3] ti!.011,E99
ro[tCuneoi.rls 887.7L,11i 1,091.580,190 !94.?5t.7rr ri..51.11.11 9.r.ur7!0.
roratOn ,r r.,nl;r". 1.1.10,012. Lil r.2B,it8,ri7 t,01l.l5,lJ l
2l8.t6Ur 1t(l2l94li.-ilr)
517
ll6.16l,104r rtlJ
irl
(4r'1,2.rE,/6111
(.151,238 2l 948:]]ll lt9.jl1.l52
.il1 12,1.00,.198)
l.l5l.lE1,EE,121.199,39i 1,990.,13t,.170 1.5t1.j.18,1,10 t.E8E.6l:,422
Fi\ed.\s5 i Gos .r - ruo.il]r .5or rL, E .5oo ....d : | .-, .j
,15'.q5130n , ;l r{r'16') E39.19'r:06 8i5.9:0.11.1i lE5j661r:rl
Operationat Result ,

l.03l,l7rj,5l8 3.24r,305,609 :.0t8,E6r,t52 2-rrq.6rrJ56 2.t 9.N,.,-,r4

-j , r<
+5Mlt1sl j10rl l xf.l1l!!! l
trt.n5 t5t
131.,1r.1.085 2er.!05.rsr
,lry.,,,clri, 115.0.16.0S1 10E.811,891 9,71.515 8l,sqt..uri Eu.0t7.681
\.: PtuilBcloitTax 19.E09.:lL 11.604.6:11 15.001911 t6.7l6 l9l Hia,liss
\:: Pntlt ;\li.i Tax h,0l- r1r0 u0+ 61.+ t5,|0t.9lt t6.t76.1!t t.1-169
.al lri\idend AinoLot
..:; r'atu. p", Sl re
::!lt \ahk lrd Shiie tlt'i t,16.lt li6 r,.l Llt t-r
:-m! pu Shaie l.6l .r 13 .t i0
1000
l2:.lit9,101 t00 68i,drr
ris f!'ecirllJrius. Figures & \larket Data:
098 .20
0lq 055
trri5
2t 70 2:1112 ti]] !9

at 8:l

: i:: l DsE Pritl (Tin]s) t0 5i :21.1

.- : :-rrn! Rurios
.:-: ! csE Pricc) (Tinurl
,1.800.0|0 1.300.000
6,it6 6.51? l.0rs
62,1%.6_r5 -it.tol.i8l
8l26.i rJt.9l.; ,-9 10.7

15
 ALITFK INDUSTRIES LIN,IITED
AUDITORS'REPORT
TO THE SHAREHOLDERS OF ALLTEX ]NDUSTRIES LIMITED

\\t hxlc audiled rhe anne\ed Balarce Sheet ol lhe Allter lndusiries Lirniied as ai Jure -]0. lll08 and !s Prrfrt
And Loss,\ccounl for thc ycrr cndcd a! on lhai dale logcfior $ith th. acc(mfrn,'ing Casl Flor Slalenrenl
Stricncnl ol Changes in Equit) and Notes thcrcto rs prepared b) lhe Cotrpan) it dtre .onf(nDd.. wilh
Bencully acceptecl accorr)tnrg principles. !rocedurcs rnd aLso the aptlicable B argladesh Accounun! Slx.dxrds
(BAS) rnd produced ro us b) it r'or our e\amiDmior ir due contbrnunce $LIh ihe appljcabLe Bargl.rdesh
Standar.ts on Aulliting and ne rcpofl ihai:

i) We have conducred the .rudj! a\ per ap|licrblc B,rrgladesh Slandards on Audlling iBSA):

iir Our cxamiDation and chcckms oIrecords, rele'an!books ofaccounls, registers. s.hedules nnd finnnciAl
strterncnrs \!crc sufficiert lo ennble us ro accounts xnd fiDanci.rl st.rtemen!!i

iii) \l'e hrve obtamcd all thc infomdtrcn, explanalioN and docrmenls as requircd by r]s:

i\')The Cornparry managemert has lbllo$'ed reLelant lrovisions of l.rw and rules irl rnxnaging the aiTairs ot
thc Comp.tn) an.l lhat pr)pcr books oi accounls. records ard odrer slaluto) books hrve lecn properly

!) The Balance Sheel, Prolit and Loss Accornt are nr agreement ivilh tbe said books of accounl naintarned
b) the conpany and ex.rrnmcd b) us t\hile rhc cnsh flow Stalcmenr corlorms wjrh lhc prcjcllaLi(D hid ouL
in the relevan! Bangladesh Accounims Stardards ardi

ri) Thc cxpenditure inculled and payments rnad€ $cre rbr thc purpose of lhe compan)'\ buliness for lhe

,A.nd h our opir(

lhe aDno\cd BahDcc Shcct. Pn)lit and Loss Account relrescnr a true and lair \ie$, 01 llre
it.tLc ofthe Conrpany s affairs as ai June30.2008 and of Lhe profit e{med for the yexr ended oi thrt drte and thlL
these financial naternents havc bccn dra\n up m rccordarce $ith the requiremenl ol aptlicable 1a$s ard ru1es
conlainiDg all thc infornr al ior in the mamer required bv rclcvant la$ , rnd rules ard the B anghdcsh Accor. tjn:
Sland.trd\ (BASI xs lfpljcabLe rr Bangladesh includrng BAS 2.1.

tl. A X,IALEK SIDDIQIII \\At_t & CL) I)ltediDh!k1

Ch.rrtercd AccouDtrnts. ociober 16. ru0rJ

l6
 ATLTEX IN DUSTRIES LI MITED

Balance Sheet
As at June 30, 2008

2007 - 200E 2t)t)6 - 2uo7

Thka
IPPLICATION OF FL'ND
1,494,40E,405 1,161,819.407
:ropeny. Plinl and Equipnrclt Cdl-1l|g \hlLre 3.00 t.45 .!\t 8!0 I,l3l.l97:269 l
CrpnalWork ii Progres 400 28 4l?!fl
70.000.000
rjE7.773,413 1,091,580,,t90
+6i.itlt88 l.a,E6l4-l
1.00 15ri.510,E l.r 105 6711,10
8.00 1.42.1,911 I l[] rr0
-ir3nccs. Deposits & sundr! Reccivables 11i,068.002 lJ0 a,l r!r
---h & Cash Equivilenh 10 00 53,225.896 'llli-4r
I 6\ : Curr..t Lirhiliri.(: 1,340,012,173 1,213,528,867
rrl Ole.dafts Secure.L I1.00 I0B I r.tl.2 r045,110,312
20.8ru.158 2 r,641,007
, .:.Jue i.sLallnrcnts ofLonS Tem Lirbilrtie\ 12.00 E'r.3r4 rrl 5r,258.3E1
:.: tm lom (CureDt Maiurjt,vl 13.00 i12.508,679
-::i. LiabiliL! (Cutrenr Marurlryl :r0,258.9 r5
:19.012.9?:l 6.1.2.16.05.1
2.1.91t.0 t.1 25.161_111
\.t C u.rent A$ets/(Liabilitieo 1152,23U,760) r1l1j04E,377l
TOT\L 1.1r2,1691644 1.109,87r,030
:orRCES OF Mll
:uE Holders' Equit}: 6r!111f!t! 621,397,a$
.: :J 15 00 480.000.000 ,180.000.000
,: :.Jnd Eq !alization Rcscrve 16 00 35.000 000 15.000,000
17.00 to.r niLr000 t69.650,00t)
18.0t) 1it,20+ 1q1 (57,252,157)

-.r@ re.m Liabilitl: 178,7U,036

19.00 i4.1r11 +78
23.01) 8E,6iMll
21.00 17j,26 ).reE
22 0A 160,150I7(
: rTr i 1,112,169.645

The loies.re iilelr.lpafi oi the Financial SrareDenls

Signed ds !*ann.xedreport or ere. drre

i-.: Ali Cho$dhnry Frhimuddrn Ahindd Arif

tL I \I.{I-I'K SIDDIQfU IYALI & CO.

aran.r.d Adninlrrr\

11
 ATLTEX INDUSTRIES LIMITED

Income Statement
For the year ended June 30, 2008
2001 - 21J08 2006 - 2007

21.00 3,033.77E,518 3,247,305,609

Les: cost ofGoods Sold 24.00 2,574.161.073 2,720,267,763

459,6t7,445 527,017,E46

Operating Expenses :
Administratiae Expenses 25.00 69.61t.191
209.+1r.319
Aged's Colmisiotr on export sales 35,428.178

P.ofit from Op€rations 145,046,091 108,871,891

\u,246,419 90,387,015
I ro::to,+:-z
21,611.770
I f "r'o"l:6E
28.16t,520
Shde Issue Expenses Writter off 800 156,227 156,227

Net Profit before conlribution to W?PF 20i799,672 18,484,876

Less: Conlribution to W?PF (990,461) (E80,2t2)

19,E09,211 17,604,644

Curent Tax 27.OO

Defeftd Td 28.00 I3,76-1.445 6,830.202
.- 6,147,766 10,774,412

EPS (par value Taka 100r) 29.04

Number of shres used to comprte EPS 4,E00,000 4,800,000

lne r. e. at,nrFsralp.n ot. eIi, a r alsrd.me r.

Signed as per ameied repof or even dale

Liaquat Ali Chowdbury Fabinuddin Almd Anf Hasna Ahmad

M. A.Itr{LEK SIDDIQUI WALI & CO. Dated: Dhaka

Chartered Accountants, ocrober 26, 2008

18
 AILTEX INDUSTRIES LIMITED
Cash Flow Statement
For the year ended June 30, 2008

2007 - 2008 2006 - 2007

Taka
Casb flors from op€ratinq activities:
Collection fton tumover and recoveries 1,2?4.782,838 l.202.0i9.Ea; l
Paynents to sulpliers and emlloyees 12,862.745.55b1
LQq4L,4'12,0+zt
Cash generat€d from operation 412,037 2E2 120,637,803
(92.E52.208) (38.579.263)
lesilg Exlenses paid (21.613.170) (28.t61.520)
asenfs Comi$ion paid on exporls (35,428.178) (62.398,940)
Isome tax ded&t€d at source (u.310.975) (5,584,865)

C6h flows from investing activitiesl

250,$2,rsr _ 1E5,713,215

tdlirion to fixed ,isers (212,048,823) (264.291.77 t)

lddirion to Capnal work i! prcgres (3,033.467) (28.422,r38)
ldirion ro Machinery in Transir
(220,082290)
Cd flows fmm linancine actiyitiesl _Qy!11!pr
LisTemLo re paid (Block Loe) (38.382,03s) 139.245.6ns)
+'is TeD t an re'paid (Tine Lod) 14,731,9s3) (64.128,690)
R.palment of Lease liabihy (7,373,620)
Slldieled Tem Lod receiled 260,000.000
{346,097) (23,712,611J
(s0,E39,70s) 132,6s3,091
'D.ftase)[rcrerre in cash and @sh equivalents (20,089,844) 2s,6s2,391
Cd ed Carh Equivalents on Opening 7\3ts,7q 47663,343
Cd ard Cesh Equiyalenfs at Closing s3,22s,a96 73,31sJ4{t

Tle o,e, de n .g!- pr o rhe I inr-chl \ra enen^.

Signed as per annexed repon on ever dare

-iFAli Chowdhuil Fahimuddin Almad AJif

x- -r tf.{LEK SIDDIQT,'I WALI & CO.

OdE d AeounranLs October 26. 2008

l9
 ATLTEX INDUSTRIES LIMITED

Statement of Changes in Equity

For the year ended June 30, 2008

"*",*' l;;;;ilil;**."-,,-
fI
Brlarc A d 0l tu|l 2n0' 430,000,000
ah q* n rhc luo!rt is p. !l
Nd po[' ]fttr T] lor lrepenod
Ti/ Hohd:y rer^e prc\i . I
cash Dividmd

Statement of Changes in Equity

For the year etrded June 30, 2007

Ch.4d ecouring poli.y

id ihc
Na l{tu lfrd T* lor in. penod
T* Holidry Esfle prorlded
ft ioryur,\dr!*tucit(D!trerdT l

&lrDce rs rr 30lune 200?

fte no&s d integnl prt olihc I ituDcidl Sbhcn*

sieled a ler annexed repon on even dare

Fslri'nuddin Alnld Anf

Mmrsing Dtrecior

20
 ATTFX INDUSTRIES LIMITED
Notes to the Financial Statements
For thc ycar cDded Junc 10. 200E

1.O() GENERAL

a) Legal Status ofthe Company

2,1. 19E5 as a p vate linited company xndcr
Alltex Indusries Ljmited \xs incorporated on Januart
the Companies Act. l9l3 now releaLed and re enacted as the Comp.rnies Acr. 1994. The Conpanl
was conleried into a public limiled compan! oD Ocrober 25. 1994. The Compan) is Usted in the
Dhaka Stock Exchange Ld. (DSE) oD 31.08.96 and Chinagong Stock Exchange Ltd. (CSE) on
07.01J.96. The shares were quoied at Takx 83.69 per share (2007: Taka 65.00) in DSE and Tala 80.71
per share (2001: Taka 65.00) ir CSE on the Balarce Sheet dale.

b) R€gistered Office & Location of th€ Factory of th€ Company:

The registered head office of the Compary is locared a! 139 (3rd floor), Morijheet CiA. Dhaka and
f: cr"n \1 bo. Rrp9o, . \"rdlorq^r.
c) Nature ofBusiness activities:
The CompaDy is a 1007. export oriented industry of dying. finishing and prjnting crey fabrics
towards lnaking ofHone Textile products for export.

d) Compliance of Locai La$s:

The accounts hale been prcp$ed in compliance with requiremen$ of rhe Bangladesh Accounting
Standards (BAS), Conpanies Act 199,1 and Secuitics & E{change mles 1987. Listing Rules of
Dhxka Siocl< Exchange Linned and Chirngorg Slock Exchange Limiied. Income Tax Ordinance
1984 and other applicable local La\,,s and Regulatiors.

Reporting CurrcncJ and Level ofPrecision:

The financixl statemenrs are preserted in Bangladesh currenct, (Taka), \lhich has been rounded offto
dre DearestTaka exceprwhere indlcated otherwise. Figures in brackers indicate deducLims.

t. i{l SIGNIFICANT ACCOUNTING POLICIES:

The Accountlng Policies adopted bv the Company are as follows: -

Basis ofPreparation! Pr€s€ntation and Disclosures of Financial Statements

Ihe a.counts have been prepared on historical cost con\'cntion under mercantile systen, accounting
for rll accruals and pre-paymenN, on rhe assumption that the Company will function as a going
concem m the forcseeable future.

br Comparative Amounts
\\:herever necessary figu.es of the pnor year has been re-arranged to corform to the current lear s

2t
c) Principal Accountins Policies
The Accounting policies and methods of computation used in preparation of rhe financial slatements for
the year ended June 30. 2008 are consistenl with those adopted in the financial statements for the year
ended June 30,2007 excepi for a change tu accornting policy as explained in (e) below.

d) Risk and unce{ainties for use of estimates in preparation of financial statements:

Preparation of Financial Starements in confomxty with lhe Bangladesh Accounting Standards requrLes
managenent to make estimates and assumprion that effect the rcported amounts of assets and liabilities
and disclosures of contingent assets and liabilities at the date of the financial stalement ard revenues
and expense during the pedod repofed. Actual resuks could difier from those estimates. Estimates are
used for accounting of certain items such as long term contracts, depreciation and anortization, taxes,
.eseraes and contingencies.

e) Responsibility for preparation atrd p.esentation of fimn€ial statementsl

The Board of Directors is responsible for the preparation and presentation of Financial Statements under
section 1 83 of the Companies Act I 99zl and as per the prcvision of "The Framework for the Preparaiion
and Presentation of Financial statements" issued by the Intemational Accounting Srandard Comnitte€
(IASC) as adopted by The Institute of Chartered Accountants of Bangladesh (ICAB).

ReYenue Recognition
i) The revenue represents the erpot pmceeds which are recognized when delivery are made from facrory

ii) Shipnent freight is incuned during the year as most ol the shipment has been made on C&F basis.
iii) The buyer base has been expanded through agent commission-

s) Recognition of Property, Plant & Equipments

Fixed Assets are stated ar cost less Accunulated DeFeciation in accordance with BAS 16 "propery, planr
and Equipment". Cost represents cost of acquisition, construction, erection and capiralizarion of pre
Foduction expenditues including interest of construction period. Capiral work in progress represents
cost of acquisition of land, land development, construction of factory building of BMRE Dyeing &
Finishing unit etc. are yet to be completed. No deFeciation is charged on Land and Land Development
and Capiral Work-in- Progress.

h) D€preciation
i) Depreciation is charged on reduciig balarce method at the folowing rates:
Item Rate
Factory Building 5Eo
Plant and Machinery 5E
Boundart, Fencing 10%
Power House 1O9a
Ga,. Bo.ler. Sredm. wa e' sLpply ln5lalidlron 1|Ea
Other Equipments lOIa
Fumiture and Fixture l0lo
20Ea
Irase (Vehicle)
assets 20Ea
Lease assets (Machinery) 10%
 ALTTEX INDUSTRIES LIMITEI)
rt Full deprecirtior is chargcd in the year of addjtions irrespeciive of date ot acquisjtjor aDd
use.
Deprcciation for rhe yerr has been charged ro cost of goods sojd and adnin;srra,t*;_;";*.

ir Bormwing Costs
Borrowing costs relating ro projects already in conjn.rcLnt .|errrron Jrc rhnrgcJ
rs expcnses 1or the
ycl]l under review. ln rcspecr of projecrs fiar hdve not,!er conlnerled
..mmere;rt prorrucrior
bonowing costs are debited lo capiral work ir progress.

j) Stocks
Stock conpises raw mareriats. work jn process. dyes & chemicats. packhg mareriah,
stde and
spares and sbck in transii. Stocks are vaiued at rhe torvcr of average
cost anl ner rcatizablc vahe.
Stock in band at batancc sheer date tave been phyrically veritied
by thc rnanagemeat in J,. p,esenc"
ofihe audirors' represcntarivcs and duty reconciled

t) Cash and Cash Equiyat€nts

'nris
conp ses cash in hand and ar banks.

lr Income Thxes
A) Current Tax
i) The Company's Printing Unir -I remaine{t idle and ctosed fiom 30.I l.9E
ii) The Crrmpany's Printrng Unir - II enjoyed Tax Hoiiday fbr 5 yeirs up to j0.ll.2003.
iii) The Company's carments Unit js erjoyed Tax Hotiday for 5 yeaN;ffcctile
om 15.07.99.

Bi D€fened Tax
The conpany has adopted defcted tax jn comptidnce wrrh rhe priJlrslons
ot Bansi{desh Accountnrg
\
Standard (BAS 12) "Incomc Taxes... The c mpdn) potrr) ot rtrognrtroi
.5sels,,liabilirics is based on remporary differences (Txxable or deductib;) ^r dererred tax
benveen ihe carlrng
amou.t (Book value) ofassets and lirbihies for the financial reportjng purpose!
and its tar base. and
accordingly. defered ran income/expenscs has been consiaerea to aeierm;e
net profit after tax and
eaming per share (EpS).

The firsttine adoplion of a BAS in 2007 is considercd as a change in accounting poiicy aDd
aaordingly. iD compliance wilh ihe prolisions of BAS E ..Ner nofit or Loss
tbi tie penorr.
Fundanrntal ErroIS and Changes in Accourling policies.., opening rctaired
carnirgs of 2007 has
been adjusted with effect upro 2008 and comparatlve figures for 2OOi has
been restare-rt.

Er Trx Holiday Reserve

Thjsi'beIngcreJrt.]our^trJ\h0]jdayprofiltoinvestinihesaneundertakins
'rdun,d'unJe'*rE or n.(o.k. and ,\are. or ti{rd conplne'r , g..,._;".."";".,,_
*curities or fbr orher purposcs as required bl the tncome Tax OrdjDance 19E4.

Er -{ccountingforLease:
The conpany has adopred finance lease for the tjrut ljme in compliance
wirh Bmgtadesh Accounrjn!

23
 ALLTEX INDUSTRIES LIMITED
Srandard (BAS-17) "Leases". and accordingly al1the Operatnrg Leascs htve becn translered to
Financial Lease fbr fie rcpolting period.

o) Earnings p€r Share (EPS)

This has been calculated by dividing the basic earnings by ihe weighted average number ot' ordinary
shares ourstandirg during the year The company caiculated Earning per share (EPS) nr accordance
with BAS 33 'Eamhg per Shffe" which has been shown on lhe face of profil and loss accouDt .tnd
the computation of EPS is srared ir accounts.

Basic Earnings
This represenrs earnings for the year attributable 1(r ordinary shareholders As there x'as no
preference dividend, mnrority interest or exta ordinary items, thc net ptuIl1 afier lax for lhe year has
becn considered as fu11y atlributable to the odinary sharcholdeN.

The company calculaled Eaming per share (EPS) in accordance with BAS 33 "Earning per Share"
which has been shown on the face of profit and loss account and the computalion ofEPS is stated in

DiluLed Earning. per Share

No diluted EPS is rcquired to be calculated for the year as there was no scope for ditulion durins the

p) Sundry Debiors andAdvanc€s, Deposits and Sundry Receivables

These arc considered good and fully realizable. No amount was witten off as bad debt and no debt
wns considered doubtful of recovery.

q) Liabilities
All the liabilities have been stated at thch anticipaled amount payable.

r.) Foreign Curr€ncies

Transactions in foreign cunencies are tmnslated into Taka at the exchange rates ruling on the
respective transaction date applied by Sonali Bank. Liabilities in forcign cunencies on balance sheet
daie have been convefed to local cunency at the following rate.

2007.2008 20t6 -2007

Taka Taka

I Us Dolar (S) = 68.50 69.00

1 EURO (€) = 95.00 95.00

i
 AITTEX INDUSTRIES LIMITED
2007 - 2008 2006 - 2007

3.00 Property ,Plrnt And Equipm€nt-Carrying Valu€:

Freehold Land & Developnenl 136.212.471 136,242,471
Boundaryfencing 921,r24 r,0.10,l.l4
Factory Building 214,651,551 2t9,110,053
19,512,617 21,516,6E6
Gas, Boiler, Stean & water Slpply Installation 11,320,349 l],]13,722
Plut & Machnrery 794,752,381 62E,475,904
Other Eqlilnent 25,181,6E6 25,691.5rJ6
Funriture & lixttrE 6,868.806 6,118.r99
llJ6,l20 482,900
ofiices Quarter 10,53?.0r0 11,091,539
Road & Cll\efis 45t.154 481,425
L.asedAsets (Machjncry) 161.153,685
L€ased Asscts (Vchiclcs) 15.458.:149
1,457,952,800 1,lJ1,197,26s
l-01 Yovemenf ofFix€d A$ets:
Otenins Balance 1,563,444.118 r,263,315,990
AddrAddltion during the year 212.0,+8,323 300.r2E,r28
Add: Tra$fer to LeasedAsets during lhe yed 1.98,182.7r1
Le$: Dislosal Duing the ye
Total Cost 1,97.1.875.E52 1.56t.444,318
Le$: Accmulated De!rccialion at Bcgimiry 430,411.049 373.521.78,1
1,5,13.823,801 1.189.922,53,1
duing fie yed
Less: DetreciatioD 85,816,001 56.525.265
Written Down Yalue as on 30.06.08 1,457,952,800 lJ!!Jl!!26e
For detaih of Fixed Ass€ts please refer Annei -A.
rrl Calital Work in Progres:
Olening Bala.ce 2E.422,138 35,336,557
\dd: Addilio, duirq tle ycd 8.033,467 2E,422,138
Less: Capilalized duing thc ye 13i,836,557)
Clo!ingBalllllre 36,455,60s 24,422J34

ir Calilal Work in Progres ulder construction of factory buildi!8, ofrce quader, fte€hold 1atrd & developneni and

t-tl lnresim.ntinShrr..: 70,000,000 70,000,000

This represents amonnt invested in Alltex Fab.ics Lidited an asociate co,npany fo. pnrchase of 700.000 ordinary
ih&es ofTk.100 each.

lhn consists ofas followsl

Quantity
L239,424 SQ. MTR 53,117 ,983 49,221,216
1,650,652 sQ. MTR 52,663 ,6',75 39,249,734
7,09E.667 SQ. MTR 201,327 ,108 238,267,834
28,091 .467 42,275,956
I-,}F Tools, Stores & Spares and Construction nateials
8,859 .963 '7,612,223
SEtclin-s Materials
11,4',79 ,55q 15,925,316
12,614 .986 10,292,466

364,214,741 402,444,741,

25
 ATLTD( INDUSTRIES LIN{ITED
2007 - 2008 2006 - 200?

s9.-rlr,r.1i 15..151.109
-10|1.091 1,1,8.1E.16.1

SdecD. Fihn & Eigrarlrrg \1.rcri!ls :.965..11E

2.6E1.?li 6.7lll l5E
ejM!17 77,01r,731
:r63.s33.788 119.461.172

i) Thc a|o\e nrr xorics & as !q phrsi..l coutirr! madc rLl ralued bv ric rtrdrhrv lee! consl\Ls ol
mdriged.lt \tal. d alrhtors
ilr lfr.rn,ri€s irhandl,n!ebeervalucdrl L$.r .lco$drdnelreili2aucldlnc
ll i r J e tod.s r.c h,lpothcclt.d agiftt woi knrg ..pital ftc illties innn rlre bink
1,00 AccountsRecei\.blc:
opelin.s B!l$ce -105,611.r.10 L Sl..l.1i 619
,\dd, Expo duri,rg Lhe )e.r r0rl.i,iE.5t8 l,:.1.1.105.609
Les: Rcalized during t|e )e.r (l.tit2.!15,44.1) (1.115.071.568)

clos g Balaicc: L56,520.111.t 105.677.7.10

This r€lrcsc.is nour !ccei{ble aCainsr expoil bills undcr Qllec(ior aggrcganne LrSlj 2 234.915
corr.;ed.g, USli I = BTK68 50 lhe.mounthrs bccn lLrll,v realzcd $b\.qdtrLv
8.00 SharclssueE{pcnses:
Opornrs BiLir.. lr8l.l:10 2.1l?,161
t-css: AdjLNt.d duftIg thc ).a! 1i6 tt1 156.2:l
Clorlg Rdldnce t,42,1,913 1.781.140

Snarc ra bei.B tvifleD oIIov rrenodr)16 )errs.sperdccrsnnr o] Lhe tsoard

lsue exp.i\cs
9.00 Advancer. D.posits & sundr! Receivablc:
Land aid dc\elopment .lt.199.505 .i3.8 t.l. 10-<
,\d\rn.e.eai.s1
Oth.r ad\ , rrctia,vtrMt\. dqrosns & $,ndry rec 19 0 I ) 137.067.291

good afd conssrs ol as lollo*s:

Iqqq xll94M!_
This is uftcur.d, orsidded
Othe..drances,p.cPalment- deposits & sundrr_ receitnlrlcs:
96.79:.1,1i D7 001.765
2,3r0.2t1
Adrirce againsl stores !u.chrse ll.1.l6l 1..+5:.501
Advance lar Dcduciior iL Soucc 16.r.10.166 r5.029.291
,\dun.e.eai!si ()nsmcrion t2i.rr95 ltt.695
Adrarcc lgdin\L TfD,\ :,ll2.ll6 ?.112.63,1
r.r29.100 ,l:8.101
Advancc agaiisl Lxlrcnscs
6,31.1.000 (i.951.000
]\draf.e ig.ilst House Loar
r:r,o2!J5l 157,61QilL

Detosir agaiil( Lcxsc rcnt l9,llll.6li 16.8r6.7:i

1.,131..156 2.i01.156
.13.600 .13.600

M&gi! in ts rk Guaian(ee t..1:9,2r1 1..129,2t3

r\d\.an.e Detosit & l\e l.ymcnr 8.605.115 8.605.115
l2.8.l8,tlq 29.1a6,129

Totrl 187,06r.293

26
 AttTEX INDUSTRIES LIMITEI)
9.02 orher advances hdde duilg rhe vea an agreg.rijrg ro Bur 11,310.9?5/ ivhich, nrclLrdes rares de.jlcred at source an
anounr ofBDT 3,833.250t oD impofl, BDT 7,17,+.009/ on exFr biU nesotiaton and BDT t03.12ltorhers.

9.03 Loans and advance in.rudes in arnounr or raka 96.792,3:17r being.mount ndnzed tbr gre) prccurernen. and
insrallarion ol a *earhg frchlj- nr {re nane orAlicx Fabrics Lrd., a linined company n whch the di,ectos h.ve
.onirolllng iitere\t agalDsr bny back conhacr of grey cloth of ilie said .oDpinyis 100%
lrodu.Lior.
200? - 200E 2006 - 201J7
Taka Taka
10.00 Cdh & Cash Equivalents :
a. Clsh in Hard l, t:t 1,728 1.546,768
b. Cnsh at Bank:
i J In Curenr A..,rn r 3.616,162 6,0:13,799
ii J In S.T.D. ..ornts I,142,104 43,535.020
iii ) Ir Surdry Accounts 46.175,302 22,r90,153

5-1,225,816 7!1!i1!l
I.1 CDenr dccout nrldes a anount ot Taka 15,531.659t beins brluces lynrg i! Sundry DeposjtAccount wirh Sonali
Ban]. - r'r . polo trard ..
rlr2 Tara 5_475.3 84 benrg amounrtepr in neginal deposi r xccoor $jth So.atiBank. Locat Oflice asailstcash L/C for
impon dye$ & chemlc.ls and spare pairs.
U,I Barl Overdrdts - Secured:
Pre Shipment Cash Credit 35,121,367 60,19t,730
Cah Credil Hypothecation 16.r49,867 24,5r_669
Back ro Back L/C 9:1.560,E67 82.377,000
Inlad L/C 35.0,13.576 28,902,000
Iidod L/C Lodgment t66.98It,023 45?.08E,914
Bact io Back L/C Lodgne 38?,650,809 302,008,640
Liabiiiries against LIM 35,998.174 72.12A a10
Cah Credit Pledgc 3,769,166 7.407,199
Shon Tenn L.,n r0_000,000 r0,000,000
OR banl Pre ShilmentCash Credit 7,E2E,383

r,ql:!a13? r!45,4q3r2
l:Jt Ore.due Installn,ents oflong lem Liabitities:
lnrercsi Beadng Block Lou 7.023,i69 2,108,067
\oD inreresl Be ine Block Loan lll,654,259 9,679,359
Principal monnrot Syndicare Tem Loar 25,860,808 12.380.952
lnr.esr Amoqrl of syndicatc Tenn Lorn 3?.5 r4.219 22.2J8,621
Sbon Tem Loan 5.262.047 10,81i,378

49314,702 57,258,.18.1
L1I LdA ierm loan (Curenr Maturify):
Bldt Loan wifi Inte.cst r7.618,9E5
BINL Lod without lxeiesL 16,000.000
srnd'cared Tem Loar 58,E69,694
112,508,679

rt t Lds lem lod.unEnt maturiry preselted jn lhe fi.ancial sLalemerr in complierce *ith Bangladesh Accouidng
Srad.rd (BAS l) for lhe fi$t tine and eftect has given from ihis year

27
 ATTTFX INDUSTRIES LI},IITED
2007 - 2008 2006 - 2007
Taka
14.00 Olher Liabilities:
Liabililies for ex!drscs .13.022.512 6.1.165,822
Oihe. Fi.an.e (Contrburn r o WPPFI 990.,161 E80,212
19,012,973 6:1,246,0s4
15.00 Sharc Capital:
Tlis represents:

10,000.0{10 Ordintu! Shrrei orTakal00 e.cb 1,000,000,000 1,000,000.000

hrtr€d, Subscribed and Paid trp Capital :
.1.800.000 Ordinuy shdes of Tata100 cach tully paid i'r cdsh 480,000,000 480,000,000

15.01 Th€ dist.ibulior of the number of thareholders atrd th€ir holdines in percentage as on Jutre 30, 200E are as tbllo{s:

Shaies in 000 Capital

20118 200? 200ri 2007 2008 2007

.18,10 5190 92.95 90.15 5a 6 560..1 l1 6ri 11.68

i21 all 6.2u 9.01) 665.1 658..{ l3 86 13.72
5,001 (i 10,001) 0.3.1 0 :10 125.1 13:.7 2 62 2.16
10,001 Io 20.000 66 0.12 0 09
20.001 ro 30.000 33 0.05 005 66.5 66 5 L3U 3ri
30.001 Io,10,000
,10.001 ro 50,000 ll 0.02 0.02 :10 00 10.00 08-l 081
50.001ro 100,00(l l:1 0.06 0.05 1E8.4 18E.,1 I 9i t.gl
100.001io 1,000.000 0.17 0.1.1 10t9.0.1078.9
Oler 1.(10{l,Lr00

5,207 6.408 100 100 4,800 1,800 100 r00

1i.02 The Category sise pcrc.ntage ot sharcholding *ere as fbllors:

SL+ Calegoiesolshdeholdlng on June 30.2008 As on Jlnc -r0- 20ill

\o..f Shtues E!

50 00 21rij,l0r)
t,126.078 21 63 1..103,208 19.21
r r]7rr2

4,800,000

15.03 Mark€t price:

The pricc dre quoted per shde at Taka E1.69 (Taka 65 00 on :10.06 07) in d,e Dhaka St.ck E\.hange rnd T.ka 80 71
lTdla65l)0 on 30 06.07) per share nr ine Chiftagong sto.k Erchanles on 10.06.2003.
15.04 Option on unissued shares:
Tlde is no option Fg&dirC authoized catitxl ior yd rlsued but can be lkd o i.dease lhe issued. sub$ibed and paid up
capitdl thro!8h the lssuancc oftre$ $rnres against clsh cont bution and bonus.
15.05 Postbalanc€ shectevents:
The Boad of Direclos of Allter lndushes Linlted ir ir\ Board Nleedng held on O.tober 26, 200E aI Dhaka has
recommended toiaL 257. Cash Dividend for tle financill ]ear 2007{8 to Lhe general shdeholdeB other tha!
sponsor shdreholden and dlreciors fiom diridend equalizarion reserte

28
 ATLTFX INDLISTRIES LIMITED
200?,2008 2006 - 2007

1i.00 Dividend Eqnalizrtion Resene:

Openine baldce 35,000.00! .18,000,000
Lesr Transfer to dividend accoxnt (3,000,000)
\ddr Resen e nDde during tle year
Closing bslance t5,000,000 35,000,000

:-t0 Ta!HolidayRes€n€: 169,650,000 164!650!000

Tiij .epresents amounl irdnsbrcd to tax holidar reseNe. The entire anount has b€en inlested in sme niduslrial
undenaking as p* Sedion45A(2) ('C) of the Incone Td Ordinance 19E4.

: i.,:il Lnappropriet€ profit:

Opc ng Balece (57,252.157) (49.500,968)
Les Detened tax expenses (?rior yee adjustment) (2,368,031)
Add Clirent yed Profit 6.011,766 10,774.142
Les CashDividend ir6.157,600)

Closing Brlance (s1,201,19t)

fkck Loan (hterest b€ding 19.01) 45.7.14,578 79,655,E00

llo.k Loan (Non interest beeing 19.02) 8.105,900 80,305,900

. ..5i!q Ballno€ 54,050,478 159,961,700

i r' ",e r' d rd bj o-gdse. and . hd.ge. $eated on the Cotuplny\ fixed and curclt asscts

! l: Block Loan (Itrter€st b€aring)

. ' l.i.menr ofthc abov€ hcad:
-:..ing balance 79,655,800 94,688.811
-:: Innalimcnl duc and paid dlrilg the period 1t6,212,231) (15.033,031)

63,383,563 79,655,800
-:: Cutrent Matuity 17,63E,985

:15!?4a,57E 79,655,800

\lo\edeDts ofdu€ instdlmert & in terest trar sf€ rred to

2,108,067
.:: Insallmcnts ofprincjpal due durinS theyed 16,272,237 15,033,031
:.:: tnrerest charges dlrin8 the yetu 5,999.065 6.695,036
--: Re paynentm.de dxring the period (8,107,132) (6.695,036)

BllaDce of due installnents ofp.incipal amourt 16,272,217 15,033,031

\loremeDt of due itrstalldents ofprincipall

l_,: L:clldeni ol principal anolnt duing the year r6.272,237 15,033,03 i
::i: R:'Palment dlrire the yeai o\let) (9.248,868) (12.921.961)

O\Erdue lnst. ofprincipal trans. to cu rr€D t liab iliti.s. 7,013,369 2,I08,067

::--<: .hdges on block lod inteiest bearing duing the year mounting Taka 5,999,0651 have not been sholn D
=: .: ::ldce as becalse pan of cnenl llabllities.

29
 AILTFX INDUSTRIES LIMITED
1q.02 BlockLoin ( \otr Int€rest Bearirg l
A. NIov.n.nts ol ilnc Inslillncntr ind inlcrcsr rrinslerred to currentliabililics.
Op{n'g b.lar.e E0.305.900
Les: Insr.llD.rts du. ard pii.ldDringlhc l.ar (t6.000.000) (i6,000.0!01
:1{.305.900 80.-105.900
Less:Curcnt N4atut! t6.000.00r)
Balance ofdue instauments of principd,mount !lrtiJ!]L 80.-105,900

R. Nlov€'nents ofinstllments rlue ldd plid during the terr:

Op rlng b.larc.
Dre l,\hlhnd,r duing Lhe lear
Less l'.)nenr Dr.de durir! (he !e!i t2r.0:i.100) tr6.t20.6.1 )
O!erdue INtallment amount transferr€d to current li.bilities 18,654,259

c. This Block Loar w$ sdrcriotrcd br Sonall Bank to resularire rhe tlonpanys shonftll ofp.ynerl oitsack r. Back
l-eftci .l C,edir (BTB) dre dsabs.forkbg cdpiral inr nlrtorl.l.rs nrate.ldls

D. .\s pq rcl a_ dr.nr sdrcdllc thc inrcicst bcaring Block Loai is .cpayablc in 23 lTwemy eiehr) qudnen\ in\tallments
o15.1j00.000 e.ch nrclL,dnrg nrLeEsL ereclnrg frotu lst Janu.ry 1005 lad nor nrie,e$ be$ins loan s,cpa\ablenr
:0 (T\rerr!) qn.rt.rlv lNtalllrenh ofTk.9.000.000 cach

20.00 Proiect l-orn -Secured - \il

This rerrernts un n rnynble b S.inli Bnnk, ngdnsr proje.r lotus florldcd to Unancc rh. Colrparys prqecls
ard n nrde up is lollo$:
BI{RE thn
Closinq Rrlrnce

Thc loaDs {{c sccur.d bl mong.g.s and chtuees cr.arcd of rh. Colrp r)_is fired ard cun ent asscrs.
20.{Jl RNIRE t, nit I

\lolcincrt in thls dccount. duringlhc yc ({c as ufdd:

ODcnirg BaLance 6.1..t:E.ri90
Le$: Due If\tal|nenrs duriisihc ycar (:0 02) ( rE,0.1t.t55l
- Ar ..f .,i. r",,-I'r,! .J.d (:r6,rrt7..r-51
Closing Balancc

2ll,tl2 Nlovenent of Ins. due during thr \elr sere,s under:

DG l$. olprii,.it.l in,ouf'- du.i,,s the )e!, I E.0.1t.tii
Les: : Re talmerl d!tug ll,e )exr (Ner) (18.041,2sj)
oreftheINl olprntripil an.unl u:l..urenr liabi

20,01 Movements ofdtre installmcnt and intcrcst transfcrred to currcnt liabiliiies.

Add: l$lallmenls due du.irg dre ).rr lli,0.1t.2i5

\dd lficrcst C|aqcs duing the year 2.309.138
Lc\\: lte-larnrcnts during thc rcar {r.809..133)
BalMce .ldue nrsr lmert olnri,rciFal with lntcrcst r ti,0:r 1,25-5

20.0.1 To fimice rhe Con|.n,v\ B\4RF. Prcs.ainnred a f.qecl Lorn an amouDr of T.ka lLg.,lEr.lt7!,qra)ltle ln 2l
qu.rt*ly in(xllnenls due ironr .rme :10. l00r after rescheduling b) sonall Dant Advdce p.)rent hdde |I the
)ear (:001) T.k. .+6.:E-.'..115/ otnex( l0 qurleA

30
 ALLTEX INDUSTRIES LIMITEI)

2007,2008 2006 _ 2007

5\ndicated Tcrnr Lo.n : !k" l"k1
Thb r.fres.rl rmourl prvehtc ro alne Balrk Lnnited aglinn
Syndicaied Tqh l_oan 1br expcnsior unit of lhc
CoDpar\ and rhls is made tllr as ft to\s

2.17.619.0.18 t60,000.000
.!s : D!e h5r. olpriDciFrl amount Lj!.tng rtre ycd (r:.180.952)
231.139.192 247.6r9,0.A
.r.!:artrr.ll Nhturirj

Uo\ emcnt olprnrcitat accotrnr,yc.e as under: _15r6r.1r1 217.619!0.18

Dlt nrsr.l 1:,lE0.9il

Dcnrs or prirctD.lamou.r
li- :ReFauenl during!ear rhe
1.479.85{, l2_i80 til
O\erduc lnst, olprircipal tr!trs. ro currcn iabititier.
2!-iq!tl rr.$lpil
tlorcment of principal account rvcre xs under :

22.213,62i
lue iNIr lmenl\ of]nlercsr anrounl .19.r9.1.667 t2,550.6j6
- r\5 : ReDathent dnrlng the ycar (jrj,959,0751 (10.212.02e1
Clr.rduc Inst. of intcrest trans. to currcni lirbititier,
32,s1.1,21, 22.2:d.6t
Tie loliowiq Bank Ti,,rncial lnsrilurions have beenpafliciparcd ij,
ttr Syn.ticatc T.m L.af l

\ahe oIt'he Bank ard Firanciat tnstitntions :

lt1.04ll,tEt 90.000.000
lnme Fiuarce and I.vcstncnr Ltd. i2.0.12,E:8 rJ0.000,000
irr..sL Finance & hrlcstnrelr Lkt
5.1,032.121 b0.000.00{)
27.016,062 ']0.000.000
,l!.rlilJl, 2E000,000
'. F - ,lr pr prr , o .r., \v. Ii,.r.o l.eD Loatr is Np..vblc in 48 lfory
'1 .r'... ,r.o, ,...,1 .na.'. ,."Tqpr'.,r.E eightl equdl

lhc repayme.l of$e loan js eu..aDieed try njolgagc ofthe Conitdys

1l:ed ard curenr asel: s,hich ajc alreadr
.ronlagcd ro one B!*.gainst s\trdicar.Iefr Loan.

-: 'r Leare Liabilitics :

Lerse Liabiliries (Nfachircry)
179.0ir.a50
Lease I_i.bitifts (!chicle)

198.382,711
Len: AdjushrenuRepayntnr during rhe ycd t.173.6:0
191.009_0gl
Lcis:Ctrnerl Manrrity
.t0.:5E.91i
160,750.t76

-i rr E\port Sates :
3.033.778,s18 3.217.305,609
:::..resentsrhrcxporrprlce€dsotlisS4,1,296.27tA:,Tk.68.;188leamedduringarcverrur.te.rclie\

l
 ATLTEX INDUSTRIES LIMITED
2007 - 2008 2006 - 2007
Taka
24.00 Cost olGoods Sold :
Work jn'process - Opening 19,249.130 r7,702,510
1,7?6.429,E:13 1,891,497,1181
Dyes and chenicals O.lote- 2,1.01)) 26:,669.13i 265,248,987
Scre€n & Elgraajrg Materiah CNote -24.02) 52.329.505
Colsurub1e Stoies 19.910,173 21,416,152
Stitcling Materials 10i,276.283 i1i,765.396
Packilg Malerials 113.043,686 r97 -023,924
Saldios, Allowances dd Wag€s 131,16?,156 136,417,228
Electrjcitl 186,331 '745,246
Cas biu 44,058,919 32,018,133
Repairs & Mailtenuce 25.p10,214 24.363,923
3,580,920 1,955,?30
StitchingChdges 1,9',11.956 I,192,809
Embrojd€ry Clarge 15,858,320 26.587,755
82,011,391 56,525.265
2,722,564,909 2,840,821,006
Work-in'pioce$ CLosing 52,663,61L 39,249,730
Cost ofproduction 2,669,905,2r4 2,8U.571,276
Flnished goods - Olening 49,221,216 10,1,923,980
2,719.126,450 2,906,495,256
lidsled goo& - Closing 53,117,983 49,221,216
\666,004.467 2,851 ,274,010
Less: Recoveries @uty draw back) 91,847,394 \37,A06,277
2,574,161,073 2.720,267 ,763

24.01 Dyes & chemicals:

Heli Bide! UD-S2 12.901.358 13,439.t74
lroval-B-l7F 42,400,391 40,736,624
Peraprel VA-S 16,320,158 t8,317.402
Hydrogen Peroxide 18,693,50? 17,402,829
9,386.753 10,066,898
Heli Fixil8 Agents 18,392,1?0 17,310.760
Otl€r Dyes, Chemicals and Color 87.915,300
263.669,131 ?q4q?-8.1
24.02 Screen & Engraying Materials:
23,662,230 2',7,469,066
Engraving Maleriah 20,8E2,630 25,2.64,$9
44,544,860 52,329,505

25.00 Adn nistrativ€ Expens$:

Direclors Remuneration 623.600 580,800
Saleies dd Allowdces 25.898,670 22,875,528
Vehicle lfti
& Lubricdts 3,389,067 3,285,070
Vehicle Nlainlendcs 3,259,516 2,91',1;765
Printing & Slationery 3.734,5E6 4,010.340
MedicalExpdses 412,570 387,586
3.025.324 2,681,328
L2nd Relenne etc 65.915 322,864

32
 ALLTEX INDUSTRIES LIMITED

n 2007 - 2008 2006 - 200?

Traveling dnd Conleldnce L,t i1,722 1,164.015

t0 Ofiice Tea & Relreslnnent l.l1J1,4,12 2.152.9:.1
3i iax & Tclcthone Exlerscs l.8l.l.:100 2.016.653
91 558.585
DJ 2,598,050 :,1E6.4:16
,2 -r71,669 561.182
t6 78,131 2,190.964
14 2.568,.19.1 2,757.817
z8 t00.000 100.000
D6 :34.7.14
]l Alnual Geleral Mc.tjng 72r,075 947.513
23 Bar* Ch&ees & Conmission 2,626.210 5E6.85N
l0 1.182.1E5 Il8ll.582
ts Head Office Expenses Rent & Utililies 1.531.1t0 i.24J1.722
ti News laper. Boots & fomN 430.,155 289.612
55 1,,132,940 1,685.50.1
15 Nlisccllucous ExDcnscs 199.92t 1.1,12.095
t0 9i2.012 t.0:l0.9lE
76 542.800 761155
t0 Ceneral Repans & Mainte.anc€ 2.480.r46
56
l.Eai4.6r2
l6
10
71
53 The nnmber ofemployees received amual salarics and dllo*ances aborc and belo\.Taka 16.0001 dlring lhe )ea.
de 225 ard 50 rcspcdacly

74 16.00 Marketing Expe! ses:

24 Saldics aDd Allowatrccs 25.459.E91 23.17,1,175
02. ShlpNntfei8ht 76.170.999 16i.922,555
29 Expo Expenses 71,912.17.+
98 Cleding & FoNardlng expenses onexporr 8,22i.413 r.1,0r9.162
60 Ctrying ard Handling 1,8E2.960 2,016.678
qq Sales ltomotion 5,097.157 5,615,6.10
q Advertisement 1,0,12.581 L:l I5,I2,,1
Vehicl€s M.nnenance 1,9E5.102 2.0.10,812
VFhicle luel & Lnbiicants 642.19.1 799,1t2
6 Frinting & SLrlionery 6t5.916 1014,910
39 Travclirs !nd Conreyln.e 1,8Ei.664 I,l l2_16.1
05 fax & Tclelho.e Exfenses t,557.292 2.513.,+6i
O1ficc T€a & Relreslme.t 20N,70li 2l E.98.1
Excise Duty and Bdnk Cfiarges r66,923
o0 Sanples E{penses 2.657.323 2,464.121
28 TraNpoit Elpenses 7.682.8:15 6,(ll1,022
oo
MisceUaneons Eapelses 280.i10 t90,520
65
40 190,160,6s4
a6 27.00 Prnvision fnr current t'rr:
28 Provision lor lncome tax on larable lnlt is lot r€quircd at this stage as there were prevlo$ cNl fo,vardcd loscs
{A including unabsorbed depieciadon and ilso hx deduoted at sources anouting to Tat. I I ,3 I 0.9rj.

33
 ATLTEX INDUSTRIES LIMITED
2007 - 2008 2006 - 2007

18.00 Deferred T!\ Li{bilities:

Opc!lrg bdl!icc 14.892..119 65.69:1.206
Add 11.d. duhe d,c lc!, I :1,16 I ..1,1i 6.E10.202
Add lior)e.r.djLNtmcnt 2.368.011
(llosing b.lancc 88.65-r,884 74,892,,139

29.00 Earnirg Per Shuc (EI'S)

Tlrc cornfutrlior oltil'S is gn d' b.lon
Eanrirgs .t(ribr(ibl.1o thc odrnary
sh.reholdcs (r.r frotit rri- Txx l
Nu bd ofotrl'mtt sr,drc\ .1.rJ00.000 .1.Er0.000
tsasi. EIS o12003,,\di stcd FPS ol l00a 126 2)1

:l{J.00 Crsh !lons fron Operatiou Acti\ities Lnder Indn cct trIethod

Nell'rofir 1or rlre r".ar 19.80i).:11 1r.60:1,6.1.1

-{diLrstncfr ro rccon.ilc net pr.lil b nel crsh provided by otoatnrg actrlitr.s

Non -Cash E\penscs

ti,8r6.001 56,i25,165
Shar! Isstrc Exter.es li6.22r- 156,22i
fufd lionr.p..atnn, bctue.hrnge in *orking capital I 06.0.11.,!l I 74.486.136

Changes in lorking c2pitrl 1,11.790.710 111,227.079

D.dear , (i.crc.r) n' n$ errors 19.:166.492

Dcc'erse, (nrcr.r) in bnh ecellable ( !22,2-l:,0:11)
Dedc!\e, (iidease) in advince & deposils l7,Et-1.-196 11,33t.936
(Dc{clsel, I.o.ise in Ba k .verdraft' Secured (-r 1.99:l.3Eo) 106.425.511
Dc. ., (r5.231.081) 19.10:.898
(Decr.as.), hcrcdsc !n lilb]litics 1o.othe, lirrnce r:9.83.1
(De(ease), Ircrcasc in llabllitlcs 1o, goods (166,519) :r.0 L I ..14:r
(Decreascl, Ircrcxsc in .!c,due i.t on SyDdic.cd Tem I oan 10.235,592
(Dcocasc), hrc.cdse i,r .vrrdue nrleresl or Shon Tem I oln 8l1.ll8
(Dccrcasc), h..ease ii.verdrc tifttripii of Shott Tcrn Ltat t4.117.951) 10,000.000

Pro ra. rr .,1 lr ul. . r i ie :50,812,151 t85.7tl,lt5

ll llll ll.lrr.d Parl! Tnnsr.tion\

\at ..lTrdr.rcllons 2007 - 2008
Rcing anount u(ill2ed lor grer" trodremelr ord lnstulllrlons
ot r \ eaving lacrory jn thc laDc olA Lltcx fabrics Ltd r
lnniled colrpanr jtr nhich thc dirccto$ Ia\c elnolling
nrlersr .ga inst bny back coitract ol ercy clod ol the Mid
c.mr.n!'s 100% production 96.792,i41 r27.00.1.765
t0.000.000 70,1100.000
1,9i1.956 1.192.80S

34
 ALLTEX INDUSTRIES LIMITED
2007 - 2008 2006 - 2007

32.00 I'aynent/ Perquisites to Dir€ctors.nd Officers :

(a) The ageregate .moxnts trovided ia. thc ofilcers of tlc comleny as defined in the Seorities and E{c|uge Rntes
I9R? fie.llq.l.sen hel.s-
35.1.000 330.000
55,000

Housing l?7,000 t65,000

I0,lJ00 10.E00
r6,800 1.1,000
6,000 6,000

623,600 s80!llL
ra ) The Clllrl)eson and the Managing Director har e foregone thei. .csledive iehunehtions dd allo* ances for rhe

*hole vear and ihe di.ectors also did trot take any renuneration for attending board meefirgs TIe diecroA *ere
also not paid for sFcial senlces reldcrcd during the year

,b, lhe Additional Directo6, de also tull time engaged acilve execurivcs of the tirnfany aDd nre salary and
allo$ances paid to orc Additjonal Direcror anounting Taka lll.800/ has be
chargcd ro elary and dllo{aDces
id.r Adminishative Exlenses and pald to anolhcr Djrectoi amounting Taka 309.8001 has bcctr ch.rged
:n ela.y and allowdces mder M arketing Expclses ^ddilioDal

,rr \o compensation wu allowed by tle conpany to Ur. Dir ecto$ of the confary.

ir \o moult ofmoney wa\ expendcd by rhe compdy fbr conpensdtiDg ay nenlber ofrhc board for speciaL
-.ices rendered.

:, \obodd meedng altendance fe€ was paid tothe dtecto$ ofthe conpa.y

i,\mberofBodd ofDiiectors ll€etilg held duritrg ihe ycdis 5 (nve).

PFdEctioD Capaciiy,Actual Production in 2007 rnd Reason ofDxcess/(Stortfrll)

=ir
2007-0E 2006-07
SQ. NITR
!qll{rL
90,000,000 90.000.000
62,293,635 76.631.522
(27,106.365) (r.1,368.478)
::tae. of prodxction wiih capacib, 69.21

f- .::-! nlrerea. uder audit the aggregaie production ofAlltex hdustries Ltd. has been decreased by 15.9t% in
:qz- *rr! lnor year.

35
 ATLTEX INDUSTRIES LIMITED
l.1.0ll CoDtnrgent Liabilities & Capitrl ConmitmeDts
a. lorcigD Bill Disco rted (ilh Sonrli Ba k p.nding collccrion as oD l0 June 2008 alnou ts ro Taka
I I 5.000..1.11 (atrproxlmatelt )
b. Cxpital commilirenls ouslandirg.D l0 J ne 1008 (and i.it Tak{ 18.10 Crore approrilnatel,v for
acqLrlsfiion of lind. dc\ clotnent ol land iin progress). constnLctio. of fecLol build g and acqxlsirion
and r.sLallarior ofplanl xid mrcnincl).
c. Tbere is no clrrlrl,rgalnsl lre (irnrpr.) nol acknowl.dgcd as dcbl
I There is no un!\aiLcd credrr riciliii.s olher than dxx. in Lh. nomal coxrse ofbnsr ess. available to
the Comtiny o! i0 June l0t)S
e. Lffect ofdevaluarron ol Banghdc\h Taka aflcr balancc shcct d,rle on the Contanl s curent lnd long
tem lilbilrtics have nol been con!idcrcd in thes. rccoonts.

35.00 Audit )lotc (Indit approach)

\1c conducled our audit m rccordance nith (he relaied hte1natjonaL Siandards or Audillng (lSA) as
rdopLcd lnd issued b] the hrniturc ol Chailered Accounran( olBrngladesh. Those snrdards require rhat
$.c phr and lelloin rhe audit to ob{arn reasonatrlc assurxricc aboul $tclher ihe Financial Starernenrs xre
trce olnaterlals'nisslalcmcm.

1h.00 \uJir \lalling and e\lenl nfe\amirralion:

Ou audil ieam conrprised of I Onc) Engaged Pxrher . I (One) .tualilled Axdlt Nlamger I (One),\udn
Sutcr!i$r (Partll Qualified) r.d I (lbur) audlt sl{f and cramnrtion includcs clccl(iig on a lesr basis.
of e\,idcncc sxpporiing lhe a'nounrs lnd disclosures in the fi.ancial slatern..ts. It Nlso includcs an
assesincnt of the accouniirg lrincrrlcs used and the sig.ificant .sIi'nat.s dnd iudgmcDts Inad. by rhc
manrgcmcnt iir the preparltion oi Lhcse ilnancirl datcmcnts, of \thcthcr thc accounling policies are
alprotriatc lo the company's circumsrances. corsistcntl! applicd rnd adcqu{tcly discloscd and .ls \ell a\
elalulrling lhc o\'erall iirancral statem eni prcsentation.

17.00 General
onLy the audit f.c.
a. Audit fcc represenis
b. The Compary has no Gratuily Schenrc as cuch no pro\,ision has been made in lhe accounts
c. Prcliou\ year\ figures and phrascs have been re-orlrged, \trereler necessan. to confonn with
curent ycar's prcsenirtion.
d The fi!urc\ in lhc acco'rnt, hale been rouDded ofito the neare$ Taka.

36
 AttTEX INDUSTRIES LIMITED

i
i!; ::ii?3:-i9 i
iFi -i!:+i'::i ?

-12

:: :" I

.E

-.: cECFcseE
'-:r;
.;;2
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iz

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i1
 ALLTEX INDUSTRIES LIMITED
l3q. \4or,jhe<i Comrnerc'al \-ea. Dh:,lb-1000

jili*;ili*il;iMilE;ffi;;;;;i",r.ir.,'r',,. .. .. .. . . ::1*:'l:'l::l::
: ...........,.,,,,,,,,,,,,,,,,,,, ,,,,,,..,.... as my/ourproxy !o attend
.:: \ ote lor me/us on my/out behalf at the TWENTY FOURTH ANNUAL GENERAL MEETING of the
::::rany to be held on Monday December 15, 2008 at Factory Preniqes, Ariabo. Barpa, Rupgorj,
ri:i.):nconjandatanyadjournn1entthercof.Aswitnesslpu!myhandthis................................................dayof
l.:-iber 2008.

S::naiure of thc Proxy)

(Signaturc of the Shareholder)

S:._iaiure of the Witnest Register Folio No. ..................

{:;ordjns to thelniclcs ofAsocidtioh oftheComprDyPloxycanbegivcntoanypeNon,Thepnxylomsnouldrelchthe

1:!Lrered Ollice ofthe Compant 48 ho!6 before Ihe tide fixed tor thc meting

INDUSTRIES LI}IITED

::.:::' record m) attendance at the TTENTY FOURTH ANNUAL CENERAL MEETING being held on Molday,
15. 2008 .I 11.00 AM at Factory premises, Ariabo, RupSonj. NarayanSonj.
'..-rr

Pl.ase lresent this Slip al1he ReceptioD Desk.

Pl.ase nole thxt AGII .an only be aftended by the honourable shareholder of prote y .onsliuted lroxy, Therelore
o! lriend orchildren acconpanyins wirh honourable shdeholder or proxy can lotbe allowed into thc neeting Hall

38