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Afinual Report
^Y: /2013-2014
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I' Libra
ii!,raInfusions Limited

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An Obsession with Quality

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To the Regulatory body 4

To the Shareholders 4
To the Community 4
To the Customers 4
To the Employees 4
To the other Stakeholders .4

To the Environment 4
To the World class Quality Products 4

Vision Mission

Libra's vision is to embody global pharmaceutical
leadership through innovation, culture and growth
guided by an unwavering commitment to
significantly improve the lives of patients.
Innovation based on bold leadership in science
and medicine resulting in the discovery,
development and delivery of high-quality,
differentiated products focused on patient needs.
A culture based on good corporate citizenship that
empowers employees through collaboration,
inclusion, trust and timely decision making.
Sustainable growth in corporate value by
leveraging core therapeutic areas, and an
industry-leading pipeline and product portfolio.
To attain Vision Libra will devote it's resources to
manufacture world class products using modern
technology. To maintain Quality Management
System in line with ISO 9001 through
documentation of all activities of the company for
development of employees at all levels by regular
training and participation.
To satisfy our customers through service upto their
level of expectation.
Libra reviews activities and performance of it's
operation to ensure compliance with objectives.
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Transmittal Letter (H Message from the Chairperson

Notice of the Bangla Version of Message from the

361h Annual General Meeting Chairperson

Corporate Directory Report of the Directors' to the

Shareholders
Bangla Version of report of the
Libra Infusions Journey at to
Directors athe
Glance
Shareholders

Manufacturing Science & Technologies Compliance Certificate on

Corporate Governance

o Corporate Governance
Quality Management System I
Compliance Report

Quality Assurance O Audit Committee Report

Quality Control 07 Auditors' Report to the Shareholders

Research and
Statement of Financial Position
Development Facilities

New Product in Process OS Statement of Comprehensive Income

Industrial Ecology 09 Statement of Changes In Equity

35th Annual General Meeting I Statement of Cash Flows d

Key Operating and Financial Data Notes to the Financial Statements

Value Added Statement Form of Proxy and Attendance

Statements on Duties of
Managing Director (CEO) & CEO

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The Shareholders
The Chairman, Bangladesh Securities and Exchange Commission
The Registrar of Joint Stock Companies & Firms
The CEO, Dhaka Stock Exchange Ltd.
The CEO, Chittagong Stock Exchange Ltd.

Sub : Annual Report for the year ended 30 June 2014.

Dear Sir (s)

We are pleased to enclose a copy of our Annual Report together with the
Audited Financial Statements including Statement of Financial Position as at
30 June 2014 and Statement of Comprehensive Income for the year ended
30 June 2014 along with other Statements and Notes thereon for
your information and record.

Yours sincerely,

Jahangir Alam Dated, Dhaka:

Company Secretary 28 October 2014

Annual Report 2ol3-l4I Page olI

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Libra Infusions Limited

Registered Office : 117, Mirpur Industrial Estate, Rupnagar
Section-2, Dhaka-1 216, Bangladesh

NOTICE OF THE 36TH ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the 36th Annual General Meeting of the Shareholders of Libra
Infusions Limited will be held at Corporate Head Office, Building-2, (Level-7) of Libra Infusions
Limited, /7, Mirpur Industrial Estate, Rupnagar, Section-2, Dhaka-1 216 on Sunday, 28 December
2014 at 11-00 a.m. to transact the following business
AGENDA
1. To receive and consider the Audited Financial Statements of the Company for the year ended
30 June 2014 together with reports of the Auditors and the Directors thereon.
2. To declare 20% Cash Dividend.
3. To elect Directors.
4. To appoint Auditors for the year 2014-2015 and to fix their remuneration.
5. To transact any other business with the permission of the Chair.

By order of the Board

Dated, Dhaka:
28 October 2014
Jahangir Alam
Company Secretary
NOTES:
i) The Record date shall be on 11 November 2014. The Shareholders whose names will appear
in the Share Register of the Company or in the Depository Register on that date will be
entitled to attend at the Annual General Meeting and to receive the dividend.
ii) A Member is entitled to attend and vote at the General Meeting may appoint a Proxy to
attend and vote in his/her stead. The Proxy form, duly stamped, must be deposited at the
Registered Office of the Company not later than 48 hours before the time fixed for the
meeting.
iii) Members are requested to notify changes of address, if any, to the Company.
iv) Admission to the meeting will be allowed only on production of the attendance slip with the
Proxy Form.

AnnuaReport2O13-14tPageO2I
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Ayesha Alam Dr. Roushon Alam
Chairperson Managing Director & CEO

Saira Mariam Alam Monami Alum Shefta Alam

Director Director Director

A
Mian Muhammad Shaheedijllah FCA Md. Mizanur Rahman FCA,FCS M.H. Chowdhury
Nominee Director Independent Director Independent Director

Annual Report 2O13-14I Page o3

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Audit Committee
Mr. Mizanur Rahman FCA,FCS - Chairman
Ayesha Alam - Member
Dr. Roushon Alam - Member

Mr. M.H. Chowdhury ii1I1i
Auditors
Management Committee Atik Khaled Chowdhury
Dr. Roushon Alam - Chairman Chartered Accountants
Man Muhammad Shaheedullah FCA -Member Hasan Court (1st Floor)
Monami Alam Member
-
23/1 Motijheel C/A
Dhaka- 1000.
Company Secretary Bankers
Mr. Jahangir Alam Al-Arafa Islami Bank Ltd.
Prime Bank Ltd.
Chief Financial Officer (CFO) Dutch Bangla Bank Ltd.
Mr. A.N.M. Mainuddin Premier Bank Ltd.
Sonali Bank Ltd.
Head of Internal Auditor (H IA)
Insurers
Mr. Moklesur Rahman
Green Dulta Insurance Co,Ltd.
Republic Insurance Co.Ltd.

Registered & Corporate Headquarter

/7. Mirpur Industrial Estate, Rupnagar
Section-2, Dhaka- 1216, Bangladesh.
Telephone: 9001179, 9004770-1
S 5* 5- Fax: (880-2) 8015833
E-mail: libra©libragroupbd.com .
Corporate Web Site:
www.libragroupbd.com

Annual Report 2Ol3-l4I Page O4I

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C Year of Establishment (Libra Pharmaceuticals Ltd) 02 February 1976

C Converted into Public Limited Company 1994
C Renamed as Libra Infusions Ltd. 1999
C Subscription Opened on 11 April 1994
C Subscription Closed on 20 April 1994
C Listed in DSE 10 July 1994
C Listed in CSE 20 October 1996
C Market category A
C Electronic Share Y
C Market Lot 200
C Face value 10
C Year End June
C Authorized Capital Tk. 10,00,00,000
C Paid up Capital Tk. 1,25,16,000
( ISO -9001 Certification December 1998

C Declaration of Eligibility of Securities

for dematerialization : 30 August 2010
C Dematerialized trading Started : 31 August 2010
C Nature of Business Manufacturing and Marketing of
Life Saving I.V Fluids (Saline)
C Dosage Forms : Large Volume Parenterals

C Production Area 1.69 Acers

C Sales Centre 13

C Manpower 699
C No. of Products 41
C No. of Shareholders 426

C Declaration of Dividend for 3 years

C 2011-2012 20%
C 2012-2013 20%
C 2013-2014 (Proposed) 20%
C Location 117. Mirpur Industrial Estate, Rupnagar
Section-2, Dhaka- 1216, Bangladesh.

Annual Report 2O13-14 Page o5

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Manufacturing Science & Technologies
Libra a reputed brand name in its history of
Pharmaceutical World always uses modern
and updated technology for manufacturing
IN. Fluid, a life saving product are usually
used in emergency medical situations. The
technology is supplied by M/S Vifor S.A.,
Geneva, Switzerland under a technical
collaborations agreement. PVC bags in
which we are filling IN. Fluids are being
used for last 40 years with no real world
evidence that they have caused any harm
& the containers only made of these PVC
can assure storage of blood for 40 days.
Libra's l.V. Fluids are filled aseptically,
terminally sterilized by highly sophisticated
steam sterilization auto cave machine
under HVAC system, labeled properly &
then delivered safely to the customers. We
have large water system unit for production
of USP grade water for injection systems
including ion exchanger, reverse osmosis
and advanced EDI systems which is used
for IN fluids. The production is based
primarily on imported raw & packing
materials. Production areas are effectively
ventilated, with air control facilities
including filtration of air to a sufficient level
to prevent contamination and cross
contamination as well as control
temperature and where necessary
humidity appropriate to the products
handled and regularly monitored during
both production and non production
periods to ensure compliance with their
design specifications. A system for
designing, analyzing, and controlling
manufacturing through timely
measurements (i.e. during processing) of
critical quality and performance attributes
of raw and in-process materials and
processes with the goal of ensuring final
product quality. We continue to maintain
high quality standard of our products to
meet specification and also ensuring to
meet standard in all stages such as
Production, Packaging, Quality Control,
storage etc. Our Quality Assurance System
is build up in such a way that Quality
Assurance Inspector inspects every steps of
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processing and therefore quality is ensured
in every steps of production operation by
following standard procedures according to
cGMP. Our Quality Control Department
work independently & tests every materials
in process to ensure in every step quality
before proceeding to next step by following
standard procedures (BP/USP) with an
extensive range of analytical techniques &
instrumentation. Technical support including
[AL test, Particle count, HPLC, GC, IC, AAS,
FuR, UV-Spectrophotometer, Validation &
Stability Studies are available as a part of our
commitment to quality. Libra has already
been recognized by WHO & ISO 9001 as
world class manufacturer of I.V. Fluid.
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Quality Management System
The QMS of Libra Infusion's Limited is established
in a frame to describe its operations in different
documents and practices which is based on
the principles of PICS and WHO guidelines. The
Quality Manual describes the Quality Policy of
QMS of Libra Infusion's Limited.
Quality Assurance
Quality Assurance is covering all matters that
individually influence the quality of a product. It
is the totality of the arrangements made with
the object of ensuring that pharmaceutical
products are of the quality required for their
intended use. Quality Assurance therefore
incorporates GMP and other factors, including
those outside the scope of this guide such as
product design and development.
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Our systems of Quality Assurance appropriate
to the manufacture of pharmaceutical
products ensure that:
Pharmaceutical products are designed
and developed in a way that takes
account of the requirements of GMP
and other associated codes such as those
of Good Laboratory Practice (GLP).
Production and control operations are
clearly specified in a written form and
GMP requirements are adopted.
Managerial responsibilities are clearly
specified in job descriptions.
Arrangements are made for the manufacture,
supply and use of the correct starting and
packaging materials.
4. All necessary controls on starting materials,
intermediate products and bulk products
and other in-process controls, calibrations,
and validations are carried out.
. The finished product is correctly processed
and checked, according to the defined
procedures.
Pharmaceutical products are not sold or
supplied before the authorized persons
have certified that each production
batch has been produced and controlled
in accordance with the requirements of
the marketing authorization and any other
regulations relevant to the production,
control and release of pharmaceutical
products.
Satisfactory arrangements exist to ensure,
as far as possible, that the pharmaceutical
products are stored by the manufacturer,
distributed, and subsequently handled so
that quality is maintained throughout their
shelf-life.
The attainment of this quality objective is the
responsibility of senior management and
requires the participation and commitment
of staff in many different departments and at
all levels within the company, the company's
suppliers, and the distributors. To achieve the
quality objective reliably there must be a
comprehensively designed and correctly
Abwaa ifil.
implemented system of Quality Assurance
incorporating GMP and Quality Control.
Quality Assurance department is fully
documented and its effectiveness monitored.
All parts of the Quality Assurance system is
adequately staffed with competent personnel
and have suitable and sufficient premises,
equipment and facilities.
....
Quality Control
Our company strongly believe that the
very-ground, for any pharmaceutical
company to survive & prosper, is the in
depth & direct perception of quality in
every process of l.V. fluid formulation as
well as other premises activities. We are
maintaining the standard and high quality
of our products to meet the required
standard specifications.
We have our own in-house, sufficiently
equipped & fully functional Instrumental
analysis Laboratory, Wet analysis laboratory
& a separate Microbiological testing
laboratory. The design of the laboratories
takes into account the suitability of
construction materials, prevention of fumes
and ventilation. There are separate air
supplies to laboratories areas.
The modern well equipped Quality Control
laboratory was established to ensure that
the products are pure, safe and effective
and is released only after thorough analysis
as per stringent specifications, methods
and procedures developed in line with
international guidelines.
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Research & Development Facilities
The aim of pharmaceutical research and
development facility is to design a quality
product and its manufacturing process to
consistently deliver the intended
performance of the product which our
strategy to introduce new products and
delivering quality products to customers
stand ond can be updated to support new
knowledge gained over the lifecycle of a
product. The R&D section is intended to
provide a comprehensive understanding of
the product and manufacturing process for
reviewers and inspectors. R&D section
provides an opportunity to demonstrate a
higher degree of understanding of material
attributes, manufacturing processes, and
their controls. This scientific understanding
facilitates establishment of an expanded
design space. In these situations,
opportunities exist to develop more flexible
regulatory approaches to facilitate:
rp Risk-based regulatory decisions (reviews
and inspections).
Manufacturing process improvements,
within the approved design space
described in the dossier, without further
regulatory review.
Reduction of post approval submissions.
Real-time Quality Control, leading to a
reduction of end-product release testing.
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As a result of our efforts in R & D we have
been successful in developing and
introducing quality products faster than our
competitors. We have built up a
sophisticated R & D facility equipped with
state-of-the-art equipment and facilities.
Our R & D is a highly experienced
multidisciplinary team. The objective of this
R & D strength is to develop new drug
delivery system.
Libra Infusion's Limited is a well decorated
organizational structure. This R&D
expansion will allow the rapid growth of
clinical programs and aims to encompass
all activities, from drug-target identification
to late-stage clinical studies.
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New product in process
We are always dedicated to serve the nation
for healthier, happier & longer lives by
providing world class life saving products. Our
aim is to support ailing people by introducing
new product day by day which will also
increase our total revenue.
To extend our product range, we are launching
infusion giving set and we have earned good
reputation in the market. All formalities have
been done for Amino Acid l.V, Disposable
Syringe & within a very short period of time we
will be able to introduce some new product like
Blood Bag, Urine Bag, Anti Cancer Drug,
Medical Plaster, Medical Tapes, Blood Vacuum
Tube, Transfusion Set etc.
Annual Report 2Ol3-l4I Page O8I
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Industrial Ecology: Our Commitment for the pleasant environment

The whole world is now under threat of heavy pollution and ecological imbalance,
Bangladesh is also no exception to that. But the world as a whole is trying to maintain its
characteristic and criteria in every stage making to loop that stabilizes the environment
system. With the growing need of increased population and industrial revolution can not
be denied. This has created tremendous pressure on the ecological balance by breaking
the loop. However, using the modern technology, the eco balance loop is being least
disturbed with the friendly environmental behavior of industrial outlets but undoubtedly
with further threat.

Taking the whole situation into consideration the Company has set up the indusf,y in
Mirpur, an area identified as Industrial zone adjacent to the National Garden with utmost
care against health hazards to the neighboring people living outside the industrial belt.

The Factory is set up on 1.69 acres of land, Administrative, Quality Control and Factory
buildings are quite separate maintaining adequate distance as per requirement under
the regulations of RAJUK. The Factory is under constant cleaning process with sufficient
number of cleaners using modern equipment and best medicines for the purpose. The
Company always maintain and continue to upgrade its Safety, Health and Environment
(SHE) system is accordance with and in anticipation of regulatory requirements and global
developments.

A beautiful garden inside the premises can be an attraction to anybody. Existence of

sufficient number of plants and trees in the whole area in general and inside the factory
premises in particular help maintaining high standard of ecological balance. A lake
nearby the factory enhances the scenic beauty and good environment.

Factory drainage system is well planned and bases on modern concept. The mechanism
and internal environment of the operation for the production of life saving I.V. Fluid is
pleasanr. Moreover, set-up a world class Effluent Treatment Plant (ETP) will be completed
within shortest possible time.

The Company maintains a high standard of Fire Fighting Equipment as per law. The experts
of Civil Defense Department, Ministry of Labour and Manpower and the Ministry of
Environment visit the Factory regularly and expressed their deep satisfactory over the
maintenance standard.

Annual Report 2O13-14I Page O9

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(5% Dextrose in aqua w/v), 500011 & 10000371. (Hartmann's Solution), 500m1 & 1000mI.
For rehydration at the time of water deficit, Mainly used as a fluid and electrolyte
general weakness and post surgical replenisher in hypovolaemia caused by
intervention. trauma surgery, haemorrhage and burn

(10% Dextrose in aqua wlv), SOOrrI & 1000mi.

For the treatment of jaundice, general HIit r .3.1 rrr., -

weakness, eclarnpsia, pre-eclampsia, during lbhis solution is indicated foi use in adults and
pregnancy & after delivery and post surgical pediatric patients as a source of electrolytes,
intervention. calories and water for hydration

(25% Dextrose in aqua wlv), 100m1 & 250m1.

It is used in the emergency treatment of severe
hypoglycaemia, to reduce cerebro-spinal (Diarrhoeal Treatment Saline), 500ml & 1 000ml.
pressure and in Protein Energy Malnutrition
(PEM). It is the most extensively used in It is used in dehydration during diarrhoea,
cholera, vomiting and profuse sweating.
---...--.----.-;1 hospital practice.

(5% Dextrose w/v+0.9% NaCI w/v), 500m] & 1000ml.
For rehydration during general weakness,
water deficiency along with sodium; diuresis,
intoxication and poet surgical intervention.
(0.9% NaCI w/v),lOOniI,250n1),500m1 & 1000ml
This solution is used for correction of serious
sodium deficit. Its use is essential for
haemodialysis procedure. It can be used topically
for irrigation of wounds and body cavities.

LIBRAZOL ]
(5% Dextrose w/v + 0.45% NaCl w/v), SOOrnl.
It fulfils water deficit along with low grade
deficiency of NaCl for growing children, (Metronidazole 0.5% wlv), lOOmI.
#5 simultaneously it supplies energy. It also The most effective antimicrobial agent for the
excludes the risk of hypernatraemia in adult treatment of anaerobic infections.
where less NaCl deficiency occur.

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(5% Dextrose wlv+0.225% NaCl wlv), 250ml & 500m1. (Ciprofloxacin 0.2% w/v), lOOmI.
It fulfils both water deficit along with low grade The most active and potent fluoroquinolone for
deficiency of NaCl for neonates & infants, the treatment of both Gram-positive and
$ simultaneously it supplies energy. It also
Gram-negative bacteria including mixed
1* excludes the risk of hypernatraemia in adult
where less NaCl deficiency occur.
infections.

V.' (10% Dextrose wlv*0 225% NaCl wlv), SOOmI & 1000ml.
This solution is indicated for parenteral
replenishment of fluid, minimal carbohydrate
calories and sodium chloride as required by
the clinical condition of the patients.
(Ciprofloxacin 0.4% wlv), lOOrnI.
The most active and potent fluoroquinolone for
the treatment of severe systemic infections
caused by both Gram-positive and Gram-
negative bacteria including mixed infections.

Libra (Ranitidino 0.05% wlv), lOOml.

libra Infusions Limited (43% Dextrose w/vt0.18% NaCl wlv), 500mI & I000mI. The most suitable in some hospitalized patients
An Obsession with Quality Isotonic dextrose saline IJBOTT-M, the best with pathological hypersecretory conditions or
possible maintenance fluid throughout the pre intractable duodenal ulcer or as an alternative to
Corporate Head Quarter & Plant oral dosage form for short-term use in patients
& post operative fluid regime.
Pioi1,7, Mrrpur lodunloiol Esiolc, Rupeogar, Scciion-2, Dhaka . 1216, Bungiodruh who are unable to take the oral medication.
Phone. 9032534 9901179. 9004770 . i, bar 000.2.9033033. L.mo,I. i,braa Ilbr0000npbO con,

Until There's Cure There's Libra

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35th Annual General Meeting

The 35th Annual General Meeting (AGM) of the shareholders of Libra Infusions Ltd. was held
on 26 December 2013 at 11.00 a.m in the Corporate Head Office Building-2 (Level-7) of Libra
Infusions Ltd., /7, Mirpur Industrial Estate, Rupnagar, Section-2, Dhaka-1 216, Bangladesh.

The Chairperson thanked the shareholders for their keen interest and continued support
for the Company. The performance of the company in 2012-2013 and the future
strategies were discussed in the meeting. The Shareholders expressed their deep
satisfaction over the progress and activities of the Company and osured their continued
whole hearted support in future development and progress of the Company. The
Chairman of the meeting highly appreciated them for their positive attitude, active
participation and valued suggestions.

P LIBRA INFUSIONS
Gr .i
LIMITED
35 Ir a 2013

s . = a

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A Partial View of Shareholders in the 35th AGM

FIV . Annual Report 2Ol3-l4I Page llI


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KEY OPERAITNG AND FINANCIAL DATA

Amount in thousand Taka
jIasliu1

Authorized Capital 100,000 100,000 100,000 100,000 100,000

Paid up Capital 12,516 12,516 12,516 12,516 12,516

Net Sales Revenue 282,309 227,319 248,592 351,429 379,294

Gross Profitj 106,753 87,003 94,495 127,196 138,605

Profit before tax 10,103 8,533 6,765 8,529 10,247

Net Profit after tax 7,413 5,271 5,807 7,041 7,711

Fixed assets 2,722,588 2,556,878 2,498,311 2,315,216 2,371,679

Net Assets Value( NAV) 1,966,895 1,961 ,986 1,959,218 1,960,6 12 1,960,892

Number of Share 1,251,600 1,251,600 1,251,600 1,251,600 1,251,600

ii;i;i 20 20 20 20 20

1,571.50 1,567.58 1,565.37 15,664.84 15,667.08

1
(26.02) (12,88) 43.20 (39.09) 60.77

Earning Per Share 5.92 4.21 4.64 56.25 61.61

Market Price per share 417.80 237.50 293.50 4,100.00 1,900.00

Price earning Rafio (Tirries) ' , 70.57 56.41 63.25 72.89 30.84

Number of Share holders 426 620 528 700 558

Sponsors General Public &
Other Institutions 425 614 524 694 551
ICB including
Account 1 6 4 6 7

699 680 728 853 864

260 256 288 378 321
439 424 440 475 543

Annual Report 2Ol3-l4IPage 121

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For the year ended 30 June 2014

%

Turnover
Bought-in-Materials & Service
Value Added

Applications

Duties & Taxes to Govt. Exchequer

Salaries and benefits to Employees
Interest to lenders
Dividend to Shareholders
Earnings Retained by the Company

.11,
Duties & Taxes to GOVT. Exchecquer 36 Duties & Taxes to GOVT. Exchecquer 37

Salaries and Benefit to Employees 26 Salaries and Benefit to Employees 25

Interest to Lenders 30 Interest to Lenders 30

Dividend to Shareholders 2 Dividend to Shareholders 2

Earnings Retained by the Company 6 Earnings Retained by the Company 6

It
 Libra Infusions Limited
Corporate Headquater:
117, Mirpur l/E (Rupnagar), Section-2, Dhaka-1216, Bangladesh.
p
tibra Phone: 9001179, 9004770-1, 9032534, 9032536 Fax +880-2-9035833
An Ob.n'.,inn with Quality E-mail : libra@libragroupbd.com , Web: www.libragroupbd.com

Statements of Managing Director (CEO) and CFO on

Financial Statement of Libra Infusions Ltd.
(vide Condition # 6 of the Corporate Governance Guidelines of the BSEC)

02 October 2014

The Board of Directors

Libra Infusions Limited
1/7 Mirpur TIE, Rupnagar, Section-2
Dhaka- 1216.

We hereby certify that:

i. We have reviewed Financial Statements for the year ended 30 June 2014
of Libra Infusions Ltd. and that to the best of our knowledge and belief;

a. these statements do not contain any materially untrue

statement or omit any material fact or contain statements
that might be misleading;

b. these statements together present a true and fair view of the

Company's affairs and are in compliance with existing
accounting standards and applicable laws.

ii. There are, to the best of our knowledge and be1ief, no transactions
entered into by the Company during the year which are fraudulent, illegal
or in violation of the Company's code of conduct.

ANM Mainuddin Dr. Roushon Alarn

Chief Financial Officer (CFO) Managing Director & CEO

L The First and the Largest Manufacturer of l.V. Fluid (Saline) in Bangladesh

1-hi
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Annual Report 2Ol3-l4IPage 141
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Respected Shareholders, distinguished guest, Ladies and Gentlemen

As Salamualaikum
I am most delighted to welcome you to the 36th Annual General Meeting (AGM) of Libra
Infusions Ltd. with the Directors' Report to the Shareholders, the Audited Accounts and
Auditors' Report thereon for the year ended 30 June 2014.
The Company has completed another bright year of operation, fulfilling the avowed
objectives as determined by the Board of Directors.
Business Condition
The ongoing global economic challenges and political turmoils and certain
unprecedented events disrupted our business activities impact having on the economic of
the Company during the year 2013-2014. Consequently effects like increased in
raw-material cost and higher interest rate also weighted on the profitability. Despite these
issues, Libra was able to achieve its reasonable target.
Unit No-2
It is a great pleasure to announce that Unit No-2 of the Company having a 8 storied
Factory Building have since been completed and installation of imported machinery are in
process. We hope by the end of 31 March 2015 Unit No-2 shall be on operation.
Performance
Dear Shareholders, you will be happy to know that the rate of our product has been
increased with the approval of Drug Administration. The Company increased its net
turnover to 1k. 28.23 crores a rise of 24% compared to previous year. In consideration of that
the Board of Directors have been pleased to recommend 20% cash dividend during the
year 2013-2014.
Equity and Shares
During the year 2013-2014, there was fluctuation in our Share Price rate - the highest
quoted share price was Tk.654.00 and the lowest was Tk.247.30 per share of 1k. 10 each.
I want to thank our employees for their innovative approach, attention to the concept of
continuous improvement and royalty.
Last but not the least; I am grateful to the members of the Board for their wise counsel and
keen interest in conducting the affairs of the Company.
Thanking you all with wishes of a good health, prosperity and happiness.

Ayesha Alam
Chairperson

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Dear Shareholders,
Assalamu Alikum Wa rahmatullahi Wa Barakatuhu. We have the pleasure to welcome you on
behalf of the Board of Directors of the 36th Annual General Meeting of the Libra Infusions Ltd
and present you the Auditors Report, Audited Financial Statement, Statement of
comprehensive income and Cash Flows Statement for the year ended 30 June 2014.
Business Activities
The year 2013-2014 witnessed a gradual retrieval from the worldwide economic recession. This
coupled with the inflation in Bangladesh resulted in continual higher cost of commodities.
The crisis in supply of gas, water and electricity affected national and also our production and
business efforts. Inspite of all these adversities, the company's dynamic leadership and timely
alternative actions combined with boldness and an environment of trust helped on
overcoming the situation. By the grace of almight Allah the Company's overall performance
was satisfactory. The Company's Earning per share (EPS) has increased by 41% from the year
2012-2013 to year 2013-2014.

Particulars
2013-2014 2012-2013
Earnina aer share (Tk.10.00 each Tk.5.92 Tk.4.21

Financial results
The financial results of 2013-2014 are delineate below
Amount in Taka
2 Particulars
013-2014 2012-2013
Profit before tax 10102,998 8,533,220
Less: Income tax (2,690,357) (3,262,1 32)
Profit after tax 7,412,641 5,271,088
Retained earnings as per last accounts 51,265,223 46,207,449
Retained earnings at the end of the ye 52,435,926 51,265,223

Directors declaration as to statutory information

The Board of Directors have confirmed that, as per Companies Act.194, Sec 184, the
following additional statements have been incorporated in the Directors' report.
a. The financial statements prepared by the management present fairly the state of affairs
of the company, results of its operation. Cash flows and changes in equity.
b. The Books of Accounts of the Company have been properly maintained.
c. Principles of accounting have been followed in preparing the statements of accounts
and estimates related to accounting have been made reasonably and with prudence.
d. The International Standards of Accounting applicable in Bangladesh were followed in
preparing the financial statements.

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e. The Internal control system was proper and effective application and monitoring was
confirmed.
f. The ability of the company as a going concern has been proved beyond any doubt.
g. There has been no remarkable deviation in the operational affairs as compared to the
previous year.
h The key operating and financial data for preceding 5 years have been shown in the
corporate operational results.
The Corporate governance compliance report has been incorporated as per proforma
supplied by the Bangladesh Securities and Exchange Commission.
j. No IPO or Right issue made during the year 2013-2014.
k. During the year 8 Board Meetings were held and attendance by each Director is shown below:

A Going Concern
The Board of Directors after analysis of the business trend of the company has confirmed
that the Company has enough ability to carry on business activities in the coming days as
a going concern and accordingly the financial statements have been prepared.
Sales and Distribution:
In order to keep the company's sales, marketing, distribution and financial activities
vibrant and dynamic, 13 (thirteen) Sales Depot were being effectively operated with
requisite manpower, independent transport, security measures and computers operated
under the connectivity system. The company is self-assured in increasing the sales,
monitoring, development of territories, efficient control of expenses, enhancing efficiency
and effective distribution system.
Fixed Assets
In the year under review, the company has invested Taka 17 crore 24 lac in acquiring fixed
assets such as building, plant and machinery, furniture & fixture, vehicles etc.
Auditors
The term of our auditors M/s. Atik Khaled Chowdhury, Chartered Accountants is expiring of
this meeting. Being eligible they have expressed their willingness for re-appointment as
auditors of the company for the year 2014-2015. In view of above, the Board of Directors
recommended for approval of the appointment of Atik Khaled Chowdhury.

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Internal Control
The board has the ultimate responsibility for Libra Infusions system of internal control and for
reviewing its effectiveness. It has been designed to manage the risk of failure to achieve
the objective of the Company and to provide reasonable assurance that Company's
assets are safe guarded against unauthorized use or material loss and transaction are
properly recorded. As a part of Internal Control procedure, we have introduced 24/7
CCTV in operation for operational control.
Information technology
An Enterprise resource planning (ERR) system was bring out to integrate IRIs production,
marketing, accounts and sales information under a web-based connected MIS system.
With this system target and achievement reports of the marketing field forces are easily
recorded and analysed for decision making as and when required in Head Office. As a
result, the stock and sales reports at countrywide 13 different depots are available to the
management in right time.
Corporate Governance
Corporate Governance is the system through which companies are directed, guided and
controlled by the Board, keeping in view its accountability to the shareholders. Our
Company strives to maintain full compliance with the laws, rules and regulations that
govern our business and to uphold the highest standards.
Audit Committee
The company had an Audit Committee in place with Md. Mizanur Rahman FCA,ECS as
Chairman, Ayesha Alam, Dr. Roushon Alam and Mr. M.H. Chowdhury as members. The
Board subsequently, reconstituted the Committee as follows:
• Md. Mizanur Rahman FCA, FCS Independent Director - Chairman
• Ayesha Alam - Member
• Dr. Roushon Alam - Member
• Mr. M.H. Chowdhury, Independent Director :: - Member
• Mr. Jahangir Alam, Company Secretary - Member Secretary

Social & Environmental Responsibility:

As a part of the ongoing commitment to the society and environment in which the
company conduct its business.
Libra's social contribution initiatives aim to help build a healthy, spiritually rich society. The
four priority areas are education of the next generation, study and research,
environmental conservation, and community service.
The company is always aware of the need for maintaining a pollution-free environment.
The company is also committed to use environment friendly technology by fully abiding by
the rules regulations and directives of GOVT. regarding environment.
Libra takes a proactive approach to these initiatives, seeking to communicate with various
stakeholders in order to determine how it can be most helpful as a good corporate citizen.

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Human Resource Development
With a vision to arrive at a top position in the Pharmaceutical Industries and to maintain a
firm and dignified place in the competitive market, various steps were taken by the
Company to train in and outside the country and to arrange workshops in relevant
aspects. Libra's greatest treasure is the human capital-not only individual competence,
expertise, and vision but also their inspired individual vow to the company's mission of
making different in inspiring quality of healthcare in Bangladesh.
Inclusion in CDBL
As per order no.SEC/CDS/206/203/114 dated 23 April 2010 and SEC/CDS/206/203/261
dated August 05, 2010 of Securities and Exchange Commission accordingly the shares of
Libra Infusions Ltd. has been enlisted with CDBL with effect from 31 August 2010 which has
been published as per directives.
Dividend
As stated earlier your Company has taken up the development works of the company and
of the same time the management is much cautions as to its obligation to the owners of
the Company. Keeping the overall situation the management recommends 20.00 %
dividend this year @ Tk.2.00 per share of 1k. 10 each.
Election of Director
As per Article 96 and 97 of the Company's Articles of Association of the Company Shefta
Alam and Mian Muhammad Shaheedullah retire by rotation and being eligible, offer them
for re-election.
Relation and communication with s hare holders
The company has been arranging Annual General Meetings regularly from its inception as
per Companies Act. The Annual General Meeting of the company is a regulatory meeting
through which shareholders are acquainted with the financial results, company's
progrees, important activities and current developments.

LIBRA INFUSIONS LIMITED

35 Annual General Meeting-2013
Date:Thursday. 26 December 2013 at 11.00 am
Venue: Corp, 4e Heed Office Building-2 (Level-7) Mirpur.h61216
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Annual Report 2Ol3-l4I Page 2Ol

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As per rule, the compan

information to the sharehoicers, securities ana txcnange commission ana STOCK
Exchanges through the daily newspapers. As a result, the shareholders, concerned
organization and the people got different information about the company in due time.
Contribution to National Exchequer
The Company have made a significant contribution in 2013-2014 towards the National
Exchequer by paying Tk. 56.431,380. This is equivalent to 20% of the sales.
Workers' P.P Fund
In 2013-2014 financial year 5% of the company's profit i.e. Tk. 3,45,171 has been deposited
to the workers' profit participation fund as per relevant law.
Respectfulness to law
The Company is not involved in any work contrary to rules and regulations and relevant
Laws of the land. The rules and regulations are duly followed and the duties are preformed
in proper time.
Management Appreciation
The Board of Directors extends heart-felt congratulations for the business success of Libra
Infusions Ltd. to all levels of officers, employees, workers, buyers, consumers and all
concerned. We sincerely thank the Drug Administration of Ministry of Health, Doctors,
Chemists, the Association of Pharmaceuticals Industries, Banks, Insurance Companies,
Suppliers and all concerned with the Pharmaceuticals Industries.
Board of Directors of the company conveys its thanks and gratitude to the Securities and
Exchange Commission, Dhaka and Chittagong Stock Exchanges of their support and
co-operation.
We gratefully recall the whole-hearted co-operation of our shareholders who are our
source of inspiration. May Allah Subhannhu Taa'Ia accept all of these activities for the
cause of this country and the nation. We pray to Almighty Allah for His blessings for
continued progress and prosperity of the company. Allah Hafiz.

On behalf of the Directors

Dr. Roushon Alam

Managing Director & CEO

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I
 A. Rahman & Associates
Cost & Management Accountants

Certificate on Compliance of Conditions of

Corporate Governance Guidelines to the Shareholders of
Libra Infusions Limited.

We have examined the compliance of conditions of corporate governance guidelines of

the Bangladesh Securities and Exchange Commission ("BSEC") by Libra Infusions Limited
(the "Company') for the year ended 30 June 2014 as stipulated in clause 7(i) of the BSEC
Notification No BSEC/CMRRCD/2006-1 58/1 34/Admin/44 dated 07 August 2012.

The compliance of conditions of corporate governance guidelines as stated in the aforesaid

notification and reporting of the status of compliance is the responsibility of the
Company's management. Our examination for the purpose of issuing this certification was
limited to the checking of procedures and implementations thereof, adopted by the
Company for ensuring the compliance of conditions of corporate governance and correct
reporting of compliance status on the attached statement on the basis of evidence
gathered and representation received.

To the best of our information and according to the explanations given to us, we certify
that, as reported on the attached status of compliance statement, the Company has
complied with the conditions of corporate governance stipulated in the above mentioned
BSEC notification dated 07 August 2012.

R—
AhMA Dated:06th November 2014
CEO & Principal Dhaka
A.Rahrnan & Associates

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CORPORATE GOVERNANCE COMPLIANCE REPORT

Status of compliance with the conditions imposed by the Commission's Notification No.
SEC!CMRRCD/2006-158/134/Admin/44 dated 07 August 2012 issued under section 2CC of the Securities
and Exchange Ordinance, 1969
(Report under Condition No. 7.00)
IF Compliance Status
(PuO in the appropriate Remarks
Condition No. iii- • 19

Complied Not
Complied
1.1 Boards Size I
(number of Directors - minimum 5 and maximum 20)
1.2 (i) Independent Director
(at least one fifth of Directors should be Independent
Directors)
1.2 (ii) Independent Director
1.2 (ii) (a) Does not hold any share of the company
1.2 (ii) (b) Not a sponsor / spouse / family members
1.2 (ii) (c) Does not have any other relationship
1.2 (ii) (d) Not a Member, Director or Officer of any stock exchange
1.2 (ii) (e) Not a shareholder, director or Officer of any member of stock
exchange or an intermediary of capital market
1.2 (ii) (f) Not a partner or an executive or was not a partner or an
executive during the preceding 3 (three) years of the
concern company's statutory audit firm
1.2 (ii) (g) Not be an Independent Director in more than 3 (three) listed
companies
1.2 (ii) (h) Not been convicted by a court as a defaulter in payment of
any loan to a bank or a NBFI
1.2 (ii) (i) Not been convicted for a criminal offence involving moral
turpitude
1.2 (iii) Independent Director shall be a knowledgeable individual
1.2 (iv) Post of independent director not vacant for more than 90
days
1.2 (v) The Board shall lay down a code of conduct of all board
members and annual compliance of the code to be recorded
1.2 (vi) Tenure of office of an independent director shall be for a
period of 3 (three) years, which may be extended for 1 (one)
term only
1.3 Qualification of Independent Director (ID)
1.3 (i) Independent Director shall be appointed by the board of
directors
1.3 (ii) The person be a chartered accountants
1.3 (iii) In special cases the above qualification - - Not applicable
1.4 Chairman of the Board and Chief Executive Officer '1 MD acts as a Chief
Executive Officer
1.5 The Directors' Report to Shareholders
1.5 (i) Industry outlook and possible future developments in the
industry
1.5 (ii) Segment-wise or product-wise performance. - - Under process from
next year

I'


Compliance
(Putq in the appropriate
Condition No. I1i: •tyI

1.5 (iii) Risks and concerns.

1.5 (iv) A discussion on Cost of Goods sold, Gross Profit Margin and
Net Profit Margin.
1.5 (v) Discussion on continuity of any Extra-Ordinary gain or loss.
1.5 (vi) Basis for related party transactions- a statement of all
related party transactionsshould be disclosed in the annual
report.
1.5 (vii) Utilization of proceeds from public issues, rights issues
and/or through any others instruments.
1.5 (viii) An explanation if the financial results deteriorate after the
company goes for Initial Public Offering (IPO), Repeat Public
__________ Offering (RPO), Rights Offer, Direct Listing, etc.
1.5 (ix) If significant variance occurs between Quarterly Financial
performance and Annual Financial Statements the
management shall explain about the variance on their
___________ Annual Report.
1.5 (x) Remuneration to directors including independent directors.
1.5 (xi) The financial statements prepared by the management of
the issuer company present fairly its state of affairs, the
result of its operations, cash flows and changes in equity.
1.5 (xii) Proper books of account of the issuer company have been
maintained.
1.5 (xiii) Appropriate accounting policies have been consistently
applied in preparation of the financial statements and that
the accounting estimates are based on reasonable and
prudent judgment.
1.5 (xiv) International Accounting Standards (IAS)/Bangladesh
Accounting Standards (BAS) / International Financial
Reporting Standards (IFRS)/Bangladesh Financial Reporting
Standards (BFRS), as applicable in Bangladesh, have been
followed in preparation of the financial statements and any
departure there-from has been adequately disclosed.
1.5 (xv) The system of internal control is sound in design and has
been effectively implemented and monitored.
1.5 (xvi) There are no significant doubts upon the issuer company's
ability to continue as a going concern. If the issuer company
is not considered to be a going concern, the fact along with
reasons thereof should be disclosed.
1.5 (xvii) Significant deviations from the last year's operating results of
the issuer company shall be highlighted and the reasons
thereof should be explained.
1.5 (xviii) Key operating and financial data of at least preceding 5 (five)
years shall be summarized.
1.5 (xix) If the issuer company has not declared dividend (cash or -
stock) for the year, the reasons thereof shall be given. - N/A
1.5 (xx) The number of Board meetings held during the year and
attendance by each director shall be disclosed.
1.5 (xxi) The pattern of shareholding shall be reported to disclose the
aggregate number of shares (along with name wise details
where stated below) held by:-
1.5 (xxi) (a) Parent/Subsidiary/Associated Companies and other related
parties (name wise details)

yAnnual Report 2013-14 1 Page 28 I

 Compliance Status
t, L%IlI the appropriate Remarks
Title column) (If, any)
Not
Complied
Complied
15 (xxi) (b) I Directors, Chief Executive Officer, Company Secretary,
Chief Financial Officer, Head of Internal Audit and their
spouses and minor children (namewise details)
1.5 (xxi) (c) Executives
1.5 (xxi) (d) Shareholders holding ten percent (10%) or more voting
interest in the company (name wise details).
1.5 (xxii) In case of the appointment/re-appointment of a director the
company shall disclose the following information to the
shareholders:--
1.5 (xxii) (a) A brief resume of the Director
1.5 (xxii) (b) Nature of his/her expertise in specific functional areas
1.5 (xxii) (c) Names of companies in which the person also holds the
directorship and the membership of committees of the board
2 CHIEF FINANCIAL OFFICER (CFO), HEAD OF INTERNAL
AUDIT AND COMPANY SECRETARY (CS)
2.1 Appointment l
The company shall appoint a Chief Financial Officer (CEO),
a Head of Internal Audit (Internal Control and Compliance)
and a Company Secretary (CS). The Board of Directors
should clearly define respective roles, responsibilities and
duties of the CFO, the Head of Internal Audit and the CS.
2.2 Requirement to attend the Board Meetings The CEO and the
Company Secretary of the companies shall attend the
meetings of the Board of Directors, provided that the CEO
and/or the Company Secretary shall not attend such part of
a meeting of the Board of Directors which involves
consideration of an agenda item relating to their personal
matters.
3 Audit Committee
3 (i) The company shall have an Audit Committee as a sub- 1
committee of the Board of Directors.
3(ii)

3 (iii)

3.1
3.1(i)

3.1 (ii)

3.1 (iii)

3.1 (iv)

I'


Compliance Status
(Put4 in the appropriate Remarks
Condition No. Title column) , (if any)
Not
Complied Complied.
I
3.1(v) The company secretary shall act as the secretary of the
Committee.
3.1 (vi) The quorum of the Audit Committee meeting shall not
constitute without at least 1 (one) independent director.
3.2 Chairman of the Audit Committee
3.2(i) The Board of Directors shall select 1 (one) member of the
Audit Committee to be Chairman of the Audit Committee,
who shall be an independent director.
3.2(u) Chairman of the audit committee shall remain present in the
Annual General Meeting (AGM).
3.3 Role of Audit Committee
3.3 (i) Oversee the financial reporting process.__
3.3 (ii) Monitor choice of accounting policies and principles.
3.3 (iii) Monitor Internal Control Risk management process.
3.3 (iv) Oversee hiring and performance of external auditors.
3.3 (v) Review along with the management, the annual financial
statements before submission to the board for approval.
3.3 (vi) Review along with the management, the quarterly and half
yearly financial statements before submission to the board
for approval.
3.3 (vii) Review the adequacy of internal audit function.
3.3 (viii) - Review statement of significant related party transactions
submitted by the management.
3.3 (ix) Review Management Letters! Letter of Internal Control
weakness issued by statutory auditors.
3.3 (x) When money is raised through Initial Public Offering
(IPO)/Repeat Public Offering (RPO)/Rights Issue the
company shall disclose to the Audit Committee about the
uses/applications of funds by major category (capital
expenditure, sales and marketing expenses, working capital,
etc), on a quarterly basis, as a part of their quarterly
declaration of financial results. Further, on an annual basis,
the company shall prepare a statement of funds utilized for
the purposes other than those stated in the offer
document/prospectus.
3.4 Reporting of the Audit Committee
3.4.1 Reporting to the Board of Directors
3.4.1 (I) The Audit Committee shall report on its activities to the
Board of Directors.
3.4.1 (ii) The Audit Committee shall immediately report to the Board
of Directors on the following findings, if any:--
3.4.1(ii)(a) Report on conflicts of interests
3.4.1(ii)(b) Suspected or presumed fraud or irregularity or material
defect in the internal control system
3.4.1(ii)(c) Suspected infringement of laws, including securities related
____________ laws, rules and regulations
3.4.1(ii)(d) any other matter which shall be disclosed to the Board of
Directors immediately.
3.4.2 Reporting to the Authorities .
If the Audit Committee has reported to the Board of Directors
about anything which has material impact on the financial
condition and results of operation and has discussed with
the Board of Directors and the management that any
rectification is necessary and if the Audit Committee finds
that such rectification has been unreasonably ignored, the
Audit committee shall report such finding to the

I r / a
Commission, upon reporting of such matters to the Board of
Directors for three times or completion of a period of 6 (six)
months from the date of first eporting to the Board of
Directors, whichever is earlier.

Annual Report 2Ol3-l4l Page 3OI

I
3.5 Reporting to the Shareholders and General Investors
4 EXTERNAL /STATUTORY _AUDITORS
0) Appraisal or valuation services or fairness opinions. "I

4(u) Financial information systems design and implementation.

4 (iii) Book-keeping or other services related to the accounting
records or financial statements.
4 (iv) Broker-dealer services. Not a
T(v) Actuarial services. Not a
4(vi) Internal audit services.
4 (vii) Any other service that the Audit Committee determines.
4 (viii) No partner or employees of the external audit firms shall
possess any share of the company they audit at least during
the tenure of their audit assipient of that company.
5 SUBSIDIARY COMPANY
5 (i) Provisions relating to the composition of the Board of
Directors of the holding company shall be made applicable
to the composition of the Board of Directors of the subsidiary
company.
5 (ii) Provisions relating to the composition of the Board of
Directors of the holding company shall be made applicable
to the composition of the Board of Directors of the subsidiary
company.
5 (iii) Provisions relating to the composition of the Board of
Directors of the holding company shall be made applicable
to the composition of the Board of Directors of the subsidiary
company.
50v) The minutes of the respective Ycwd meeting of the holding
company shall state that they have reviewed the affairs of
the subsidiary company also.
5 (v) The Audit Committee of the holding company shall also
review the financial statements, in particular the investments
made by the subsidiary company.
6 DUTIES OF CHIEF EXECUTIVE OFFICER (CEO) AND
CHIEF FINANCIAL OFFICER (CFO)
The CEO and CFO shall certify to the Board that:-
6(i) They have reviewed financial statements for the year and
that to the best of their knowledge and belief:
6 (i) (a) These statements do not contain any materially untrue
statement or omit any material fact or contain statements
that might be misleading.
6(i)(b) These statements together present a true and fair view of
the company's affairs and are in compliance with existing
accounting standards and appilcable laws.
There are, to the best of knowledge and belief, no
transactions entered into by the company during the year
which are fraudulent, illegal or violation of the company's
code of conduct.
REPORTING AND COMPLIANCE OF CORPORATE
GOVERNANCE
7(i) The company shall obtain a certificate from a practicing
Professional Accountant / Secretary (Chartered Accountant I
Cost and Management Accountant / Chartered Secretary)
regarding compliance of conditions of Corporate
Governance Guidelines of the Commission and shall send
the same to the shareholders along with the Annual Report
ona yearly basis.
7 (ii) The directorsof the company shall state, in accordance with

L the Annexure attached, in the directors' report whether the

company has complied with these conditions.

Annual Report 2Ol3-l4l Page 3ll

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Audit Committee Report

For the year ended 30 June 2014
The Board of Directors of Libra Infusions Ltd. has constitued an Audit Committee as per Bangladesh Securities
and Exchange Commission Notification No. SEC/CMRRCD/2006-02-08 dated April 20 2006. The Committee
worked with the Management to establish an internal audit function and the commencement of a review of
the Company's internal control and risk management system and compliance with good governance issues.
Their activities are managed by a Company's key Executive who reports directly to the Audit Committee.
Composition of the Audit Committee
The audit committee of Libra Infusions Ltd. consists of 5(five) members from the Board of Directors including
two non-shareholder Independent Director. The audit committee consists of the following persons:
Md. Mizanur Rahman FCA, Independent Director - Chairman
Ayesha Alam - Member
Dr. Roushon Alam - Member
Mr. M.H. Chowdhury, Independent Director - Member
Jahangir Alam, Company Secretary - Member Secretary
Meeting of the attendance
During the year under review the committee meets five times and there was full attendance by all members, The
Head of Internal Audit attended those meetings. For the purpose of the Corporate Governance notification, all
the members of Committee are financially literate and are able to analyze and interpret financial Statement to
effectively discharge their duties and responsibilities as members of the Audit committee.
Role & Responsibilities of the Audit Committee
The Audit Committee's role flows directly from the Board oversight function and it is authorized by the Board
to investigate any activity within its terms of reference. The Committee has written terms of reference which
have been approved by the Board. The Committee reports regularly to the Board on the performance of the
activities it has been assigned The Committee's main responsibilities include
i The Audit Committee should report on its activities to the Board of Directors.
ii The Audit Committee should immediately report to the Board of Director on the following findings, if any-
a) Report on conflicts of interests;
b) Suspected or presumed fraud or irregularity or material defect in the internal control system.
c) Suspected infringement of laws, rules and regulations.
d) Any other matter which should be disclosed to the Board Immediately.
iii Reviewing and monitoring the adequacy and effectiveness of the Company's internal control and risk
management system.
Activities carried out during the year
The committee reviewed the Internal Audit Report, Financial Statements and the External Audit Report to the
Board for consideration. The committee did not find any material deviation, discrepancy or any adverse
findings in the reporting.
Independence of External Auditors
The Company's External Auditors are prohibited from non-audit services as prescribed by the Bangladesh
Securities and Exchange Commission, vide its Notification, dated 7 August 2012. Tax and other professional services
of the Company are conducted by separated professional Firms to ensure the Auditor's independence. Chief
Financial Officer (CFO), The Company Secretary and Head of Internal Audit will consult with the committee.
Opinion
The committee found adequate arrangement to present a true and fair view of the activities and the financial
status of the Company and did not find any material misstatement, discrepancies or any adverse finding in
the areas of reporting.

I M.H. Chowdhury
Member, Audit Committee
Md Mizanur Rahman FCA
Chairman, Audit Committee

2013-14 1 Page 32

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We have audited the accompanying financial statements of Libra Infusions Limited, which comprise the
Statement of Financial Position as at 30 June 2014, and the Statement of Comprehensive Income, Statement of
changes in equity and Statement cash flow for the year then ended, and a summary of significant accounting
policies and other explanatory notes.

Management's Responsibility
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with Bangladesh Financial Reporting Standards, Securities and Exchange Commission Rules 1987,
Companies Act 1994 and other rules and regulation. This responsibility includes: designing, implementing and
maintaining internal control relevant to the preparation and fair presentation of financial statements that are
free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting
policies; and making accounting estimates that are reasonable in the circumstances.

Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our
audit in accordance with Bangladesh Standards on Auditing, those standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial
statements are free from material misstatement. An audit involves performing procedures to obtain audit
evidence about the amounts and disclosures in the financial statements. The procedures selected depend on
the auditors judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the entity's preparation and fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion
In our opinion, the financial statements give a true and fair view of the financial position of Libra Infusions Limited
as of 30 June 2014 and of its financial performance and its cash flows for the year then ended in accordance
with Bangladesh Financial Reporting Standards and comply with the Companies Act 1994, Securities and
Exchange Commission Rule 1987 and other applicable laws and regulations.

We also report that:

i) We have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purpose of our audit and made due verification thereof;
ii) In our opinion proper books of accounts as required by law have been kept by the company so far as it
appeared from our examination of those books;

iii) The company's Statement of Financial Position, Statement of Comprehensive Income and Statement of
cash flow dealt with by the report are in agreement with the books of accounts;

iv) The expenditures incurred and payments made were for the purpose of the Company's business;

Dated, Dhaka:
28 October 2014 Atik Khaled Chowdhury
Chartered Accountants

MEN NOL P


Libra Infusions Limited

Statement of Financial Position
As at 30 June 2014
Amount in Taka.
Particulars Notes
30062014 1 30.06.2013

ASSETS

Non - Current Assets

Property, Plant and Equipment -Carrying value 32 2,722,587,742 2,556,878,954

Current Assets 238,338,606 200,179,071

112,530,981
Inventories 33 108,443,131
Stores and Supplies 34 4,562,786 3,375,563
Accounts Receivable 35 28,966,274 26,038,269
Advance, Deposits and Prepayments 36 71,488,546 52,425,660
Cash and Cash Equivalents 37 20,790,019 9,896,448

TOTAL ASSETS 2,960,926,348 2,757,058,025

SHAREHOLDERS' EQUITY AND LIABILITIES

Shareholders' Equity 1,966,895,172 1,961,985,731

Issued / Paid-up Capital 38 12,516,000 12,516,000
General Reserve 10,000,000 4.000,000
Revaluation Surplus 1,891 .943,246 1,894,204,508
Retained Earnings 52,435,926 51,265,223

Non - Current Liabilities 711,140,900 461,085,631

Long Term Loans
424,723,287 39 194,842,351
Term Loans 40 188,696,764 149,744,416
Associates and Others Current Account 41 53,156,331 75.776,624
Deferred Tax Liability 42 2,603,359 1,907,431
Other Liabilities 43 41,961,159 38,814,809

Current Liabilities 282,890,276 333,986,663

Short Term Loans 44 201,127,279 109,241,172
Long Term Loans - Current Portion 45 37,253,170 31,330,338
Term Loan - Current Portion 46 17,182,316 167,199,000
Creditors and Other Payables 47 21,531,150 17,132,554
Taxation 48 5,796.361 9,083,599
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 2,960,926,348 2,757,058,025

This should be read in conjunction with the annexed notes to the Financial Statements.
Approved and authorised for issue by the Board of Directors and signed for and on behalf of the Board:

Jahangir Alam Dr. Roushon Alam Ayesha Alam

Company Secretary Managing Director & CEO Chairperson

As per our report of even date.

Dated. Dhaka:
28 October 2014
Atik Khaled Chowdhury
Chartered Accountants

Annual Report 2013-14 [Page 341

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Libra Infusions Limited

Statement of Comprehensive Income
for the year ended 30 June 2014

Amount in Tako.
Particulars Notes
2013-2014 1 2012-2013

Net Sales Revenue 49 282,309,477 227,319,715

Cost of Goods Sold 50 (175,556,051) (140,316,256)
Gross Profit 106,753,426 87,003,459
Administrative Expenses 54 (9.523.518) (8,301,475)
Selling, Marketing and Dstrihutior Expenses 55 (43,767,368) (36.292,851)
Operating Expenses (53,290,886) (44,594,326)
Profit from Operations 53,462,540 42,409,133
Other Income 56 3,199,572 3,834,283
Finance Cost 57 (46213.943) (37,475.249)
Net Profit Before Contribution to WPPF 10,448,169 8,768,167
Contribution to WPPF 58 (345,171) (234,947)
Profit Before Tax 10,102,998 8,533,220
Current Tax 59 (1,994,429) (1,354,701)
Deferred Tax (695,928) (1,907.431)
Income Tax Expenses (2,690,357) (3,262,132)
Total Comprehensive Income for the Year 7,412,641 5,271,088

Earnings Per Share (EPS) of Taka. 10.00 each 61 5.92 4.21

Number of Shares used to compute EPS 1,251,600 1,251,600

This should be read in conjunction with the annexed notes to the Financial Statements.

Approved and authorised for issue by the Board of Directors and signed for and on behalf of the Board:

Jahangir Alam


A,
Dr. Roushon Alam


cdpalvl-
Ayesha Alam
Company Secretary Managing Director & CEO Chairperson

As per our report of even date.

Dated, Dhaka:
28 October 2014
Atik Khaled Chowdhury
Chartered Accountants

Annual Report 2013-14I3

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Libra Infusions Limited

Statement of Changes in Equity
for the year ended 30 June 2014

For: 2013-2014 Amount In Toka.
Revaluation General Retained
Particulars Share capital Surplus Reserve Total
Earnings
Balance as at 30 June 2013 12516,000 1,894,204,508 4,000,000 51,265,223 1,961,985,731
Adjustment for Depreciation on (2,261,262) 2,261,262 -
Revaluation Assets

Profit Transferred to General Reserve 6,000,000 (6,000,000) -

Total Comprehensive Income for 2013-2014 7,412,641 7,412,641
Cash Dividend of Previous year 2012-2013 (2,503,200) (2,503,200)

Balance as at 30 June 2014 12,516,000 1 1,891,943,246 10,000,000 52,435,926 1,966,895,172

For: 202-2013
Revaluation General Retained
Particulars Share capital Total
Surplus Reserve Earnings
Balance as at 30 June 2012 12,516,000 1,896,494,394 4,000,000 46,207,449 1,959,217,843
Adjustment for Depreciation on (2,289,886) 2,289,886 -
Revaluation Assets

Total Comprehensive Income for 2012 - 2013 5,271,088 5,271,088

Cash Dividend of Previous year 2011-2012 (2,503,200) (2,503,200)

Balance as at 30 June 2013 12,516,000 1,894,204,508 4,000,000 51,265,223 1,961,985,731

Approved and authorised for issue by the Board of Directors and signed for and on behalf of the Board:

Jahangir Alam


A,Dr. Roushon Alam

Ayesha Alam
Company Secretary Managing Director & CEO Chairperson

As per our report of even date.

Dated, Dhaka:
28 October 2014
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Charlered Accountants

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ra Infusions Limited
Statement of Cash Flows
for the year ended 30 June 2014

Cash Flows from Operating Activities

Cash Receipts from Customers 279,381,471 224,297,306
Cash Paid to Suppliers, Employees and Others (263,730,169) (202,113,100)
Cash Generated from Operations 15,651,302 22,184,206

Interest Paid (46,213,943) (37,475,249)

Income Tax Paid (2,000,000) (825,200)
Net Cash Generated from Operating Activities (32,562,641) (16,116,243)

Cash Flows from Investing Activities

Acquisition of Property, Plant and Equipmen (172,408,540) (65,579,893)
Net Cash Used in Investing Activities (172,408,540) (65,579,893)

Cash Flows from Financing Activities

Net (Decrease) /Increase in Long Term Loan 235,803,768 15,195,735
Net (Decrease) /increase in Term Loan (111,064,336) 39,810,126
Net (Decrease) /Increase in Short Term Loan 91,886,109 24,955,038
Dividend Paid (760,790) (901,400)
Net Cash Generated from Financing Activities 215,864,751 79,059,499

Increase/(Decrease) in Cash and Cash Equivalents 10,893,571 (2,636,637)

Cash and Cash Equivalents at Beginning of Year 9,896,448 12,533,085
Cash and Cash Equivalents at End of Year 20,790,019 9,896,448

The Notes are integral part of the Financial Statements.

Approved and authorised for issue by the Board of Directors and signed for and on behalf of the Board:

Jahangir Alam Dr. Roushon Alam Ayesha Alam

Company Secretary Managing Director & CEO Chairperson

As per our report of even date.

Dated, Dhaka:
28 October 2014
Atik Khaled Chowdhury
Chartered Accountants

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Libra Infusions Limited

The Notes are integral part of the Financial Statements
As at and for the year ended 30 June 2014

1. Company Profile
Libra Pharmaceuticals Limited was incorporated in Bangladesh as a Private limited Company
on 2 February 1976 under the Companies Act, 1913. It was converted into a Public Limited
Company in 1994 when it offered its share to the Public with the permission of the Bangladesh
Securities and Exchange Commission. Subsequently it was renamed as Libra Infusions Limited
on 27 October 1999. The shares of the company are publicly traded on the floors of Dhaka
Stock Exchange Limited and Chittagong Stock Exchange Limited.

2. Head office, Factory and Depot Office

The Registered Office and Factory are situated at 1/7, Mirpur Industrial Estate, Rupnagar,
Section-2, Dhaka-1216. The Company is being operated through its Depot / Sales offices
located at Dhaka, Mymensingh, Comilla, Sylhet, Noakhali, Chittagong, Faridpur, Barisal,
Khulna, Bogra, Rangpur, Rajshahi and Kushtia.

Nature of Business
The company owns and operates modern Injectable Intravenous (l.V) Fluids, Pharmaceutical
products and Mineral Water manufacturing factories and it sells life saving products of different
quality / grades to Govt, Semi-Govt, Authorities Hospitals, Clinics and Licenses Pharmacies,

4. Basis of Measurement of Elements of Financial Statements

The financial statements have been prepared on the Historical Cost Basis except land and
buildings revalued by the Valuer following current cost method.

5. Statement on Compliance with Local Laws

The financial statements have been prepared in compliance with the requirements of the
Companies Act, 1994, the Securities & Exchange Ru1es1987, the Listing Regulations of Dhaka
and Chittagong Stock Exchanges and other relevant local laws as applicable.

Statement on Compliance of Bangladesh Accounting Standards

financial statements have been oreoared in accordance
Bangladesh Accounting Standard (BASs) adopted by the Institute of Chartered Accountants
of Bangladesh (ICAB) based on International Accounting Standards (lASs) and International
Financial Reporting Standards (IFRS5).
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7.Compliance of International/Bangladesh Accounting Standards - (IAS/BAS)

The accounting standards that underpin the policies adopted by the company can be
found in the following places of the notes to the financial statements:

-BAS/BFRS NOTE
DESCRIPTION
REFERENCE
BAS 1 : Presentation of Financial Statements 8, 9,29
BAS 2 Inventories 18
BAS 7 Cash Flow Statements 28
BAS 8 Accounting Policies, Changes in Accounting
Estimates _and _Errors 17
BAS 10 : Events after the Balance Sheet Date 31
BAS 12Income
: Taxes 12.2.5
BAS 14 : Segment Reporting 27
BAS 16 : Property, Plant and Equipment 12.2.3
BAS 18 : Revenue 12.1
BAS 19 Employee Benefits 12.2.8
BAS 21 The effects of Changes in Foreign Exchange Rates 13
BAS 24 : Related Party Disclosures 30
BAS 27 Consolidated Financial Statements and
56
Accounting for Investment in Subsidiary
BAS 33 Earnings Per Share 12.2.10

8. Presentation of Financial Statements

According to the International Accounting Standard (lAS) -1 as adopted by ICAB as BAS- 1
"Presentation of Financial Statements" the complete set of Financial Statements includes the
following components -

(a) Statement of Financial Position as at 30 June 2014;

(b) Statement of Comprehensive Income for the year ended 30 June 2014;
(c) Statement of Changes in Equity for the year ended 30 June 2014;
(d) Statement of Cash Flows for the year ended 30 June 2014; and
(e) Notes to the Financial Statements as at and for the year ended 30 June 2014.

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9. Structure, Content and Presentation of Financial Statements

Being the general purpose of financial statements, the presentation of these financial
statements is in accordance with the guidelines provided by BAS 1: 'Presentation of Financial
Statements".

10. Reporting Period

The financial period of the company covers one financial year from 1 July 2013 to 30 June 2014.

ii. Accounting Principles and Policies

The accounting principles and policies in respect of material items of financial statements set out
below have been applied consistently to all periods presented in these financial statements.

12. Use of Estimates and Judgments

The preparation of Financial statements in conformity with IFRSs including lASs require
management to make judgments, estimates and assumptions that affect the application of
accounting policies and the reported amounts of assets, liabilities, income and expenses that
require disclosure, during and at the date of the financial statements.

12.1 Revenue Recognition Policy

In compliance with the requirements of BAS- 18: "Revenue', revenue receipts from customers
against sales is recognized when products are dispatched to customers, that is, when the
significant risk and rewards of ownership have been transferred to the buyer, recovery of the
consideration is probable, the associated costs and possible return of goods can be estimated
reliably and there is no continuing management involvement with the goods.
Revenue from sales is exclusive of VAT.

12.2 Property, Plant and Equipment

12.2.1 Recognition and Measurement

This has been stated at cost or revalued amount less accumulated depreciation in
compliance with the requirements of lAS 16: Property, Plant and Equipment. The cost of
acquisition of an asset comprises its purchase price and any directly attributable cost of
bringing the assets to its working condition for its intended use inclusive of inward freight,
duties and non-refundable taxes.

Annual Report 2Ol3-l4I Page 4OI

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12.2.2 Maintenance Activities

The company incurs maintenance costs for all its major items of property, plant and
equipment. Repair and maintenance costs are charged as expenses when incurred.

12.2.3 Depreciation on Fixed Assets

Depreciation is provided to amortize the cost of the assets after commissioning, over the
period of their expected useful lives, in accordance with the provisions of BAS -16: Property,
Plant and Equipment. Depreciation is provided for the period in use of the assets.
Depreciation is provided at the following rates on reducing balance basis:

Building and Other Construction . 1.25%

Plant, Machinery and Equipment 5%
Furniture and Fixtures 6%
Vehicles 10%-20%
Books & Journal ,...., 30%

Depreciation on addition to Fixed Assets of Unit - 1 has been charged for six months
averagely and No depreciation has been provided on Unit-2 on during the year 2013-2014.

12.2.4 Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, in transit and with banks on current and
deposit accounts which are held and available for use by the company without any
restriction. There is insignificant risk of change in value of the same.

12.2.5 Income Tax

Income tax comprise of current and deferred tax. Income tax is recognized in statement of
comprehensive income and accounted for in accordance with the requirements of BAS 12:
Income Tax.

12.2.6 Current Tax

Current tax is the expected tax payable for the year and any adjustment to tax in respect of
previous years. The company qualifies as a "Publicly Traded Company' hence the
applicable Tax Rate is 27.50%.

12.2.7 Deferred Tax

Deferred tax has been considered and reflected in the accounts under review.

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12.2.8 Employee Benefits
a) Provident Fund: The company has established a contributory provident fund scheme. The
fund is wholly administered by a Board of Trustees. No part of the fund is included in the assets
of the company.

b) Workers Profit Participation Fund and Welfare Fund: The company makes a regular
allocation of 5% on net profit before tax to this fund and payment is made to the workers and
staffs as per provision of the companies Profit under Labor Law 2006 chapter - 1 5.

12.2.9 Proposed Dividend

Proposed dividend is accounted for after approval by the shareholders in the Annual
General Meeting.

12.2.10 Earning Per Share (EPS)

Earning per Share (EPS) is calculated in accordance with Bangladesh Accounting Standard
BAS - 33 'Earning Per Share" by dividing the basic earnings by weighted average number of
ordinary shares outstanding during the year.

Basic Earning per share

'Earning per share"has been calculated by dividing the earnings attributable to the number
of ordinary shares held by the members during the year.

Diluted Earnings per Share

No diluted EPS was required to be calculated for the year under review as there is no scope
for dilution of EPS for the year.

13. Foreign Currency Transactions

Foreign currency transactions are recorded at the applicable rates of exchange ruling at the
transaction date.
The monetary, assets and liabilities, if any, denominated in foreign currencies at the balance
sheet date are translated at the applicable rates of exchanges ruling at that date. Exchange
differences are charged off as revenue expenditure in compliance with the provision of BAS
21: The Effects of Changes in Foreign Exchange Rates.

14. Approval of Financial statements

The financial statements were approved by the Board of Directors on 28 October 2014.

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Annual Report 2Ol3-l4I Page 42I
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15. Reporting Currency

The financial statements are prepared and presented in Bangladesh Currency (Taka), which
is the company's functional currency. All financial information presented has been rounded
off to the nearest Taka except where indicated otherwise.

16. Comparative Information and Rearrangement Thereof

Comparative information has been disclosed in respect of the financial year 2012-2013 for all
numerical information in the financial statements and also the narrative and descriptive
information where it is relevant for understanding of the current year's financial statements.
Head of accounts and figures for the financial year 2012-2013 including narrative and
descriptive information have been re-arranged and regrouped wherever considered
necessary to ensure better comparability with the current year.

17. Risk and Uncertainty for use of Estimates and Judgments

The preparation of financial statements in conformity with Bangladesh Accounting Standards
requires management to make judgments, estimates and assumptions that affect the
application of accounting policies and the reported amounts of assets, liabilities, income and
expenses and for contingent assets and liabilities that require disclosure, during and at the
date of the financial statements.

Actual results may differ from these estimates. Estimates and underlying assumptions are
reviewed on an ongoing basis. Any revision of accounting estimates are recognized in the
period in which the estimate is revised and in any future periods affected as required by BAS
8: "Net Income or Loss for the Period Fundamental Errors and Changes in Accounting
Policies".

18. Inventories
Inventories are stated at the lower of cost or net realizable value in compliance with the
requirements of Para 21 & 25 of BAS-2. The cost is calculated on weighted average method in
a consistent manner. Costs comprise of expenditure incurred in the normal course of business
in bringing out such inventories to its location and conditions. Where necessary, provision is
made for obsolete, slow moving and defective inventories if any) identified at the time if
physical verification of inventories. Cost of work in progress is determined at the basis of cost
of materials only.

19. Board of Directors & Board Meetings

There are 08 Members in the Board of Directors of the Company, 08 Board meetings were
held during the year to transact various business.

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20. Audit Fee

As per decision taken in the 35th Annual General Meeting of the Company held on 26
December 2013 the audit fee of TK. 60,000 has been provided for in the accounts. During the
year under audit nothing was paid to the auditors for any other services.

21. Accrued Expenses and Other Payables

Liabilities for the goods and services received have been accounted for. Payables are not
interest bearing and are stated at their nominal value.

22. Going Concern

The company has adequate resources to continue in operation for the foreseeable future.
For this reason the directors continue to adopt going concern basis in preparing the financial
statements.

23. Financial Instrument

Non-derivative financial instruments comprise accounts and other receivables, cash and cash
equivalents, borrowings and other payables and are shown at transaction cost.

24. Impairment
In accordance with the provisions of BAS 36: "Impairment of Assets", the carrying amount of
non-financial assets, other than inventories is reviewed at each reporting date to determine
whether there is any indication of impairment. If any such indication exists, then the asset's
recoverable amount is estimated and impairment losses are recognized if profit and loss
account. No such indication of impairment has been raised till to date.

25. Accounts Receivable

Accounts receivable are created at original invoice amount less any provisions are made
where there is evidence of a risk of non-payment, taking into account aging, previous
experience and general economic conditions. When an accounts receivable is determined
to be uncollectible it is written off, firstly against any provision available and then to statement
of comprehensive income. Subsequent recoveries of amounts previously provided for are
credited to the statement of comprehensive income account.

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Annual Report 2Ol3-l4I Page 44I
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26. Provisions
A provision is recognized on the statement of financial position date if, as a result of post
events, the company has a present legal or constructive obligation that can be estimated
reliably, and it is probable that an outflow of economic benefits will be required to settle the
obligation.

27. Segment Reporting

No segment reporting is applicable for the company as required by BAS-14:"Segment
reporting", as the company operates in a single industry segment.

28. Statement of Cash Flow

The Statement of Cash Flow has been prepared in accordance with the requirements of
BAS- 7: Cash Flow Statements. The cash generating from operating activities has been
reported using the Direct Method as prescribed by the Securities and Exchange Rules, 1987
and as the benchmark treatment of BAS-7 whereby major classes of gross cash receipts and
gross cash payments from operating activities are disclosed.

29. Proposed Dividend

The amount of proposed dividend has not accounted for but disclosed in the notes to the
accounts along with the dividend per share in accordance with the requirements of Para 125
of BAS- 1: Presentation of Financial Statements. Also, the proposed dividend has not been
considered as 'Liability" in accordance with the requirements of the Para 12 & 13.

30. Transactions with Related Parties

The company carried out a number of transactions with related parties in the normal course
of business and on arm's length basis. The information as required by BAS 24: 'Related party
Disclosures" has been disclosed in a separate note to the accounts.

31. Events after Reporting Period

Events after the reporting period that provide additional information about the company's
position at the date of Statement of Financial Position or those that indicate that the going
concern assumption is not appropriate are reflected in the Financial Statements. Events after
reporting period that are not adjusting events are disclosed in the notes when material.

Ii


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Amount In Taka.
Notes Particulars 30.06.2014 I 30.06.2013
33 Inventories
This consists of as follows -
Raw Material 12,435,682 9,552,634
Packing Material 31 ,758,742 28,1 24,563
Work -in-Process 6,534,762 6,1 53,275
Finished Goods 18,159,772 17,815,563
Laboratory Chemicals & Accessories 3,765,481 3,270,668
Raw, Packing Materials in Transit 39,876,542 43,526,428
112,530,981 108,443,131

34 Stores and Supplies

This consists of as follows -

4,562,786
Spares & Accessories 3,375,563
4,562,786 3,375,563

35 Accounts Receivable
This is unsecured, considered good and is falling due within one year -
14,943,267
Below 30 days 13,432,753
Within 30-60 days 4,037,396 3,629,283
Within 60-90 days 1,767,888 1,589,184
Above 90 days 8,217,723 7,387,049
Total 28,966,274 26,038,269

No amount was due from the directors', managing agent, managers and
other officers of the company and any of them severally or jointly with any
other person.

36 Advance, Deposits and Prepayments

This is unsecured and considered good which consists of as follows -
A. Advances
Employees 68,783 198,922
Rent 848,000 724,600
Income tax 19,393,957 23,560,488
Purchase 8,053,571 6,741,547
Advance for expenses 33,434,651 15,847,662
Total 61,798,962 47,073,219

a. Advance to employees of Taka. 68,783

ii
b. Advance paid amounting to Taka.32,500 to Mrs.Razia Begum against office
rent is still under sub - judice.
4
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-
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V

- - (

Amount In Taka.
Notes I Particulars
30.06.2014 1 30.06.2013

c. Advance income tax amounting of Taka.19,393,957 is adjustable with the

tax payable subject to finalization of assessement.
d. No amount was due by the Directors (Including Managing Director) and
managing agents and any Officers of the Company and any of them
severally or jointly with any person except as stated in above.

B. Deposits
This is arrived at as follows -
Security deposit I Earnest money 2,850,171 2,537,670
Lease rental to UCL 1,475,073 1,475,073
4,325,244 4,012,743
C. Prepayments
This is made - up as follows -
4,826,070
VAT (Value Added Tax) 1,125,583
Insurance Premium 538,270 214,115
5,364,340 1 ,339,698
Grand total (A+B+C) 71,488,546 52,425,660

37 Cash and Cash Equivalents

This cosists of as follows -

10,951,774
A.Cash in hand (Head office and Depots) 7,184,350
B.Cash at Bank:

Current Account 9,574,542 2,448,395
Fixed Deposit Account 263,703 263,703
9,838,245 2,712,098
Total (A+B) 20,790,019 9,896,448

Annual Report 2ol3-l4I Page 48I

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38 Issued Share Capital

30.06.2014 30.06.2013
This represents-
A. Authorized
10,000,000 Ordinary Shares of Taka.10 each 100,000,000
Issued, Subscribed and Paid -up
1,251,600 ordinary shares of Taka.10 each fully paid - up in cash -

Sponsors 6,043,000 6,043,000

Public 4,297,000 6,115,000

GB 104,000 240,000
Institutions 2,072,000 118,000

Total 12,516,000 12,516,000
B.Shareholding Position: The composition of shareholding position of the Company at 30 June 2014
are as follows:
At 30 June 2014 At 30 June 2013
Shareholders No. of No. of % of No. of % of
Investors Shares Share Shares Share
holding holding
Sponsor Directors 5 255,800 20.44 255,800 20.44
Other Sponsors 2 348,500 27.84 348,500 27.84
General Public 402 429,700 34.33 520,520 41.59
GB 1 10,400 0.84 80,780 6.45
Institution 16 207,200 16.55 46,000 3.68
Total - 426 1,251,600 100.00 - 1,251,600 100.00
C. Distribution Schedule: The Distribution Schedule showing the number of shareholders and their
share holdings in percentage has been disclosed below as per requirement of the regulation 37 (3)
of Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.

Range of No of % of No of Shares % of Share

Shareholders Shareholders Capital
Holdings in
number of At 30 At 30 At 30 At 30 At 30 At 30 At 30 II At 30
shares June June June June June June June I June
14 13 14 13 14 13 14 13
1-5000 409 599 96.01 96.62 495,900 522,820 39.62 41.77
5001-50000 14 18 3.29 2.90 295,580 268,660 23.62 21.47
50001-500000 3 3 0,70 0.48 460,120 460,120 36.76 36.76
500001-1000000 - - - - - - - -
Total 426 620 1 100.00 100.00 1,251,600 1,251,600 100.00 100.00
D. Market Price: The shares are listed in the Dhaka Stock Exchange Ltd. and Chittagong Stock
Exchange Ltd. Each share has been quoted at Taka.41 7.80 and Taka 428.00 on 30.06.2014 in Dhaka
Stock Exchange Ltd. and Chittagong Stock Exchange Ltd. Respectively.
E.Voting Rights: The rights and privileges of the shareholders are stated in the Memorandum and
Articles of Association of the Company.

Ib.i


Notes Particulars Amount In Taka.

30.06.2014 1 30.06.2013
39 Long Term Loan 424,723,287 194,842,351
A. A long term loan of Taka.368,224,886 was secured from Al- Arafah lsiami Bank Ltd against
Land ,Building & Other Assets both present & future depositing the Title deeds of properties.

B. Long term Joan for Unit No-2 from Union Capital Ltd amounting to Taka.56,498,401 have
been secured against personal property of the Directors.

40 Term Loan 188,696,764 149,744,416

Term loan amounting to Taka.Tk.188,696,764 from Al Arafah Islami Bank Ltd. against Finished
goods, Imported Raw & Packing materials.

41 Associates and Others Current Account

Opening balance 75,776,624 78,950,815
Received during the year 2,469,860 2,11 5,598
78,246,484 81,066,413
Refunded / Adjusted during the year (25,090,1 53) (5,289,789)
53,156,331 75,776,624
42 Deferred Tax Liability
This represents provision is made for deferred income tax to pay future income tax liability
for temporary difference which is arrived at as follows:
Opening balance 1,907,431 -
Provision made 695,928 1,907,431
Closing balance 2,603,359 1,907.431

43 Other Liabilities
This consists of -
Unpaid Dividend 27,120,881 25,624,374
Employees, Provident Fund 10,568,075 9,836,109
Workers Profit Participation & Welfare fund 4,272,203 3,354,326
41,961,159 38,814,809

44 Short Term Loan 201,127,279 109,241,172

Short term Loan of Taka. 201,127,279 was taken from Al - Arafah Islami Bank Ltd. against
Finished goods. Raw & Packing materials which are payable currently,

II
IJI MAIN

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*

Amount In Taka.
Notes Particulars 30.06.2014 I 30.06.2013
31,330,338
45 Long Term Loan-Current Portion 37,253,170

This represents current portion of long term loans from financial institutions which
are repayable currently as follows:

Al - Arafah Islami Bank Ltd, Dhaka 29,753,170 23,980,338

Union Capital Ltd, Dhaka 7,500,000 7,350,000
37,253,170 31330,338

46 Term Loan- Current Portion 17,182,316 167,199,000

Term loan amounting to Taka. 17,182,316 was borrowed from Premier Bank Ltd. against
Director's personal land which are payable currently.

47 Creditors and Other Payables

This consists of -
A. For goods
This represents amount payable to regular suppliers of packing materials, promotional
materials etc. All suppliers were paid on a regular basis.

This is made - up as follows-

Packing materials 2,839,092 2,629,017

Promotion Material, Printing & Stationery 1,673,229 1,546,788
4,512,321 4,175,805

B. For Services
These are falling due within one year and arrived at as follows-
Telephone & fax 11,554 6,993
Gas & electricity 777,691 906,796
Insurance 134,260 156,345
Audit fee 60,000 60,000
Salary and wages 4,803,503 4,865,759
Travelling expenses - field forces 2,364,670 2,230,853
C & F charges 853,278 745,260
Others 1,254,327 1,403,396
10,259,283 10,375,402
 ,
/ ' .
/
/
/

Amount In Taka.
Notes Particulars 30.06.2014 I 30.06.2013

C. For Other Current Liabilities

-I This is arrived at as follows -

Dividend Payable 647,355 567,930

Refund warrant Payable 2,000 2,000
Income tax payable (up to assessment year 2010-201]) 5,285,534 1,400,625
Sundry Liabilities 824,657 610,792
6,759,546 2,581,347
Grand Total (A+B+C) 21,531,150 17,132,554

Mil

48 Taxation
This is arrived at as follows -
Balance 1 July 2013 9,083,599 8,554,098
Add: Current Tax 1,994,429 1,354,701
11 ,078,028 9,908,799
Income Tax Paid/Adjustment during this year (5,281 471 (825,200)
Balance at 30 June 2014 5,796,361 9,083,599

Amount In Taka.
Notes I Particulars 2013-2014 I 2012-2013
•H I
49 Net Sales Revenue
This is arrived at as follows -
Sales 325,1 37,328 263,223,522
Less: VAT (42,827,851) (35,903,807)
Net Sales revenue 282,309,477 227,3 1 9,715

Sales represent:

I. V Fluids Bag 4,858,727 4,783,006

Mineral Water Bottle 146,680
I, I

oil

Annual Report 2013-14 1 Page 52%

11


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Amount In Taka.
Notes Particulars
2013-2014 I 2012-2013
50 Cost of Goods Sold
This is made - up as follows - Notes
Work in process -opening 6,1 53,275 6,042,577
Raw materials consumed 16,871,215 13,152,829
51
Packing materials consumed 52 122,560,949 97,202,074
Work in process -closing (6,534,762) (6,1 53,275)
Direct materials consumed 139,050,677 110,244,205
Direct labour 4,787,974 3,102,160
Manufacturing overhead 53 28,408,427 23,077,180
Depreciation 5,279,435 6,01 7,615
Cost of production (Material & Manufacturing Expenses) 177,526,513 142,441,160
Finished goods opening 17,815,563 16,543,302
195,342,076 158,984,462
Finished goods closing (18,159,772) (1 7,81 5,563)
177,182,304 141,168,899
Cost of sample (1,626,253) (852,643)
Cost of Goods Sold 175,556,051 140,316,256

Item wise quantity and value of Finished Goods Stock are as follows:

Item Unit Quantity Value

Stock as at 30.06.2014
l.V Fluids Bag 640,898 17,965, 1 32
Mineral Water Bottles 13,100 194,640
Taka 18,159,772

Unit Quantity Value

Stock as at 30.06.2013
l.V Fluids Bag 709,218 17,815,563
Mineral Water Bottles
Ta ka 17,815,563

51 Raw Materials Consumed

This is made -up as follows -
Opening stock 9,552,634 9,141,138
Add: Purchase 19,754,263 13,564,325
29,306,897 22,705,463
Less: Closing stock (12,435,682) J9,552,634)
Raw materials consumed 16,871,215 13,152,829
Out of total raw materials consumption in values 99.16% are imported.

HENUMIJ JT:

Amount In Taka.
Notes Particulars 2013-2014 I 2012-2013

52 Packing MateroIs Consumed

This consists of as follows -
Opening stock 28,124,563 29,862,768
Add: Purchase 126,195,128 95,463,869
154,319,691 125,326,637
Less: Closing stock (31,758,742) (28,124,563)
Packing materials consumed 122,560,949 97,202,074

a. Out of total packing materials consumption in value 48.02% are imported.

b. Particulars in respect of quantity of packing materials as well as value of each
items of packing materials are not given as the number of items as well as
classes of items are numerous.

53 Manufacturing Overhead
This consists of as follows -
Salary,wages and benefits 13,147,670 10,174,502
Indirect materials 1,010,286 1,393,410
Overtime 1,023,058 990,583
Travelling & conveyance 479,725 446,805
Printing & stationery 205,723 112,837
Repairs & maintenance 351,386 315,299
Telephone, telex & fax 141,041 89,160
Gas & electricity 8,635,722 7,041,944
0. Insurance 596,731 530,861
Automobile operating expenses 579,367 413,776
Canteen expenses 1,560,221 1,127,842
Municipal tax 375,408 210,621
Trade licence fee 302,089 229,540
28,408,427 23,077,180

Salary and wages includes Provident Fund contribution of Taka. 1,505,354 for
the workers.
pp.

Annual Report 2Ol3-l4I Page 54I

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Amount In Taka.
Notes Particulars
2013-2014 I 2012-2013

54 Administrative Expenses
This consists of as follows -

Salary and allowances
4,115,647 3,239,848
Directors remuneration 1,861,500 1,861,500
Directors fees 15,000 36,000
Office rent 240,000 240,000
Repairs and maintenance 337,058 358,292
Travelling & conveyance 408,307 444,761
Bank Charges 252,509 118,294
Office expenses 76,876 99,427
Fooding expenses 492,497 386,512
Automobile Operating expenses 211,105 231,648
Printing, stationery 172,545 115,480
Postage, telephone and telex 226,771 154,170
Electricity, gas and water 227,672 200,852
Insurance 184,408 105,311
Legal, professional & other service Charge 143,946 133,230
Membership fee 82,982 116,525
Audit fee 60,000 60,000
AGM expenses 214,963 200,743
Depreciation 199,732 198,882
Total 9,523,518 8,301,475
a. Audit fee represents Auditos remuneration for auditing the accounts of the
Company for the year ending 30 June 2014.

b. Salary and allowances includes Provident Fund contribution of Taka. 575,662.

c. Break up of AGM expenses are as follows-

Report and dividend warrant printing 143,888 124,614

Report and dividend warrant despatched 5,992 6,013
ACM notice and others (advertisement in newspaper) 21,252 24,667
Decoration and others 43,831 45,449
214,963 200,743
55 Selling, Marketing and Distribution Expenses
This consists of as follows -
Salary,allowances and benefits 22,987,231 17,482,160
Office rent 1,555,200
Repairs and maintenance 1,555,200
284,170 685,623
Travelling & conveyance 5,403,058 4,525,751
Casual wages 881,329
Office expenses 852,634
Printing & stationery
595,493 514,264
328,648 323,006

MMINK ii !T


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Amount In Taka.
Notes Particulars 2013-2014 1 2012-2013

Postage, telephone and telex 401,142 340,854

Electricity, gas and water 412,191 409,353
Insurance 409,200 354,184
Training & conference 83,608 65,324
Promotional materials expenses 1,689,419 1,556,615
Other promotional expenses 922,102 840,378
Sample expenses 1,626,253 852,643
Distribution expenses 4,340,793 4,599,874
Automobile operating expenses 626,948 539,194
Depreciation 1,220,583 795,794
Total 43,767,368 36,292,851

Salary and allowances includes Provident Fund contribution of Taka 1,326,025.

56 Other Income
Operating Income - Sales of Fish fry 4,965,347 5,062,358
Less:
Operating Expenses - Purchase of post Larbac (912,348) (625,436)
Operating Expenses - Purchase of Fish Feed
(853,427) (602,639)

3,199,572 3,834,283
57 Finance Cost
This is made - up as follows -
Interest on Short Term Loan 2,076,569 1,533,759
Interest on Cash Credit 26,610,264 24,355,368
Interest on LTR 15,543,521 9,977,377
Interest on loan from P.F and Welfare fund 1,983,589 1,608,745
Total 46,213,943 37,475,249
The Company is paying interest © 11.50% on the balance of Workers' Profit Participation
& Welfare Fund and © 13.00% on Provident Fund for utilizing the amount.
58 Contribution to Workers' Profit Participation & Welfare Fund
This represents 5% of operating profit before tax after charging the contribution
provided as per provisions of the Companies Profit (Workers Participation) Act, 1968.
59 Current Tax
This represents estimated Income Tax Liability as follows:
27.50 % Income Tax on Taxable Profit of Taka 6,903,426 1,898,442 1,162,987
3 % Income Tax on Taxable Profit of Taka 3,199,572 95,987 191,714
1,994,429 1,354,701

Annual Report2ol3-l4I Page 56I

9
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Notes Particulars Amount In Taka.

2013-2014 F 2012-2013
3

In accordance with BAS -1 "Presentation of Financial Statements, the appropriations

for theyear have been reflected in the Statement of Changes in Equity

A. Dividend - Proposed
The proposed dividend @ 20% i.e, Taka. 2.00 per share of Taka. 10 each has been
recommended by the Board of Directors subject to approval of shareholders.

During the year under review, a part of the balance of net profit though carried
forward in the Statement of Financial Position will be applied for payment of this
years cash dividend proposed by the Board of Directors @ Taka. 2.00 per share
and will be recognised as liability in the accounts as and when approved by the
shareholders in the Annual General Meeting. Total amount of proposed cash
dividend for the year 2013 - 2014 is calculated to Taka.25,03,200.00
61 Earnings Per Share (EPS)

Earning per share and its components have been defined in notes 12.2.10 The
computation of EPS is given below -

a. Earning attributable during the year too 7,412,641 5,271,088

b. Number of ordinary shares outstanding 1,251,600 1,251,600
c. Earnings per share 5.92 4.21

62 Payment / Perquisites to Directors / Managers

(A) The aggregate amounts paid to / provided for the officers of the company as
defined in the Securities and Exchange Rules 1987 are disclosed below:

Managing Director 631,500 631,500

Directors Remuneration 1,230,000 1,230,000
Managers:
Salary 2,293,968 2,142,345
Other benefits:
Bonus 174,560 157,248
House rent 1,306,900 1,258,411
Utilities & others 702,840 655,129
Total 6,339,768 6,074,634

a. No compensation was allowed to the Managing Director of the Company except

as stated above.
b. No money was spent by the Company for compensating any member of the
Board for special services rendered.

lib-

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63 Production Capacity and Utilization

[Quantity in million, unit of Bag]

Capac Production Utilised
2013-2014 l.V Fluid Bags 10.00 49.40%
2012-2013 l.V Fluid Bags 10.00 4.58 45.80%

64 Capital Expenditure Commitment

a. There was no capital expenditure contracted but not incurred or provided for at 30
June 2014.
b. There was no material capital expenditure authorised by the Board but not
contracted for at 30 June 2014.

65 Claim not Acknowledged as Debt.

There was no claim against the Company not acknowledged as debt as on 30 June 2014.
66 Contingent Liabilities
There was no sums for which the Company is contingently liable at 30 June 2014
67 Dividend Paid to the Shareholders
During the year under review cash dividend amounting to Taka. 760,790 has
been paid to the shareholders.

68 Credit Facilities
There was no credit facility available to the company under the contract but not
availed of as on 30 June 2014 other than bank credit facility and trade credit
available in the ordinary course of business.

69 Raw and Packing Materials Consumption

Value Taka. Percentage

Imported 78,489,354 55.39%
Local 60,942,810 44.61%
139,432,164 100.00%

70 Receivable from Directors

None

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71 During the year review, foreign currency was paid as follows

2013-2014 2012-2013
Unit
F.C. Taka F.C. Taka
- 226,799 17,768,842 168,526 13,734,195
(€) 36,000 3,863,682 - -
649,071 50,857,471 495,642 40,390,858
33,566 3,600,462 - -
£ - - 76,523 8,596,594
654,794 51,305,336 407,658 33,204,967
26,525 2,843,865 - -
79,050 10,276,500 19,045 2,139,515

72 Post closing events

a. Subsequent to the Balance Sheet date , the directors recommanded cash
dividend Taka.25,03,200 (Taka. 2.00 per share ). The dividend proposal is subject to
shareholders' approval at the forthcoming annual general meeting.
b. Except facts stated above, there is no significant event other than normal activities
between the financial year closing date and financial statement signing date.

73 Subsequent events

Subsequent events (disclosures under BAS 10 " Events after the Balance Sheet
date") There is no significant events subsequent to Balance Sheet date.

Jahangir Alam

/
Dr. Roushon Alam
Ownwll-
Ayesha Alam

Company Secretary Managing Director & CEO Chairperson

Dated, Dhaka:
28 October 2014

ii
 LIBRA INFUSIONS LIMITED
Registered Office: 1/7, Mirpur Industrial Estate, Rupnagar
Section - 2, Dhaka -1216, Bangladesh

PROXY FORM

I/We .............................................................of ....................................

........being a member of LIBRA INFUSIONS LIMITED, hereby appoint
Mr/Mrs/Miss .............................................of ............................as my proxy to attend
and vote for me on my/our behalf at the 36th ANNUAL GENERAL MEETING of the Company to be
held on Sunday, 28 December 2014 at 11.00 a.m and at any adjournment thereof.

As witness my/our hand this .............................................day of December 2014.

Revenue
Stamp
of
(Signature of the Proxy) (Signature of the Shareholders) Tk.20.00
Registered Folio No.............................
Dated No. of Shares held...............................

Note: A member entitled to attend and vote at the Annual General Meeting may appoint a Proxy to
attend and vote in his/her stead.The proxy form, duly completed must be deposited at Registered
Office of the Company not later than 48 hours before the time fixed for the meeting.

LIBRA INFUSIONS LIMITED

Registered Office: 1/7, Mirpur Industrial Estate, Rupnagar
Section - 2, Dhaka -1216, Bangladesh

ATTENDANCE SLIP

I hereby record my presence at 36th ANNUAL GENERAL MEETING of Libra Infusions Ltd being held
on 28 December 2014 at 11.00 a.m at the Corporate Head Office, Building-2 (level-7), Mirpur- l/E,
Section-2, Rupnagar, Dhaka-1 216.

Name of member/proxy .................................................................

Registered Folio No .......................holding of ...............ordinary Shares of Libra Infusions Ltd.

Signature
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Dhaka
House"
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el:U/2I-I243Y
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