Monnocera 2009-2010 Annual

Monno Ceramic Industries Ltd.
BOARD OF DIRECTORS :
MR. HARUNAR RASHID KHAN
Chairman
MR. MOYNUL ISLAM
Vice Chairman
MRS. AFROZA KHAN
Managing Director
MRS. HURON NAHAR RASHID
Director
MR. RASHEED MYMUNUL ISLAM
Director
MR. RASHID-UL HASAN
Independent Director
MR. MD. EKRAMUL HOQUE
Company Secretary
AUDITORS :
Messrs. A. Wahab & Co.,
Chartered Accountants,
Hotel Purbani, Annex-2, 4th floor,
1 Dilkusha Commercial Area,
Dhaka-1000.
BANKER:
Sonali Bank Limited,
Local Office,
Motijheel Commercial Area,
Dhaka-1000.
FACTORY:
Dhamrai,
Dhaka.
REGISTERED OFFICE:
9 Wyre Street,
Wari,
Dhaka-1203.

NOTICE OF THE TWENTY-NINTH ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN THAT the twenty-ninth Annual General Meeting of the
shareholders of Monno Ceramic Industries Limited will be held at 9.00 a.m. on Wednesday the
29th December 2010 at Bashundhara Convention Center, Block-G, Umme Kulsum Road,
Bashundhara R/A., Baridhara, Dhaka, to transact the following businesses:
1. To confirm the proceedings of the twenty-eighth Annual General Meeting held on
Wednesday the 23rd December 2009.
2. To receive, consider and adopt the Directors Report and the Balance Sheet together with the
profit and loss account of the Company for the year ended the 30th June 2010 along with the
report of the Auditors thereon.
3. To declare 20% stock dividend i. e. 1 bonus share for every 5 shares.
4. To elect Directors.
5. To appoint Auditors for the year ending the 30th June 2011 and to fix their remuneration.
6. To transact any other business which may be transacted at an ordinary general meeting with
the permission of the chair.
By order of the Board,
Dated: Dhaka, the 28th October 2010.
Md. Ekramul Hoque

Company Secretary
Notes:
1. November 11, 2010 is scheduled as record date. Shareholders whose names would appear in the
Register of Members/CDS record on the record date would be entitled to stock dividend.
2. Any member of the Company entitled to attend and vote at the above meeting may appoint a
proxy to attend and vote on his/her behalf. The proxy form, with duly affixed revenue stamps of
Tk.10.00, should be submitted at the registered office of the Company not less than 48 hours
before the time fixed for the meeting.
3. Members are requested to notify change of address, if any, to the Company.
4. Admission to the meeting will be strictly on production of the attendance slip attached with the
proxy form.

Vision We see business as a means to the well-being of the shareholders and all other
stakeholders, society as well as the national interest as a whole.
Mission Our Mission is to provide world class quality products to our valued customers,
strictly maintain ethical standard in business operation.
Objectives Our objectives are to conduct transparent business operation within the legal &
social frame work with aims to attain the mission with a quantitative/qualitative target in
business operation.
Corporate Focus Our vision, our mission and our objectives are to emphasise on the
continuous development in making value addition to our products for producing the higher end
products, to keep well prepared for competitive world market.
Financial Management Policy
All financial policies like investments policy, dividend policy and financing policy is to
maximise the value of the organisation.
Corporate Governance:
Top Management : Board of Directors
As per provisions of the Article of Association, Board of Directors hold periodic meetings to
resolve issue of policies and strategies, recording minutes/decisions for implementation by the
Executive Management.
Executive Management:
The Executive Management is headed by the Managing Director, the Chief Executive Officer (CEO)
who has been delegated necessary and adequate authority by the Board of Directors. The Executive
Management operates through further delegations of authority at every echelon of the line
management. The Executive Management is responsible for preparation of segment plans/subsegment plans for every profit centres with budgetary targets for every items of goods & services
and are held accountable for deficiencies with appreciation for exceptional performance.
WE STRIVE FOR
Protection of shareholders capital as well as to ensure maximise the value of the organisation.
Best compensation to all the employees who constitute the back-bone of the management and
operational strength of the Company through a pay-package composing salary/wages,
allowances, bonuses, profit participation and leave salary as per Company rules.
The best co-operation of the suppliers by timely payment of their bills, the banks & financial
Institutions by repayment of loan before due date and the authority relating to utilities-power,
gas etc. by regular payment of their bills.
Fulfillment of our responsibility to the Government through regular payment of taxes, VAT
and duties etc.
As responsible citizen, for a social order devoid of malpractices, anti-environmental

behaviours, unethical and immoral activities and corruptive dealings.
Practicing good-governance in every sphere of activities covering full disclosure & reporting
to shareholders, holding AGM and distribution of dividends and other benefits to
shareholders in time, reporting/dissemination of price sensitive information, recruitment &
promotion of staff, procurement & supplies, sale of assets etc. all that directly and indirectly
affect the interest of concerned groups - the shareholders, the creditors, suppliers, employees
and the government.
Regular repayment of loan and lease installments to the financial institutions is the ideology
of Monno.

FIVE YEARS FINANCIAL STATISTICS
(Figures in 000 taka)
F i n a n c i a l years
PARTICULARS
2009-2010 2008-2009 2007-2008 2006-2007 2005-2006
Authorised capital
500,000
500,000
500,000
500,000
500,000
Paid-up capital
135,000
135,000
135,000
135,000
135,000
Revenue reserves & surplus
146,554
156,217
155,187
163,131
182,945
Shareholders equity
281,554
291,217
303,687
311,631
338,195
Fixed assets (gross)
996,245
996,157
995,997
990,795
943,783
Fixed assets (net)
304,293
334,845
368,720
401,315
388,153
Turnover (net)
813,787
779,581
968,614
773,204
664,548
Gross margin
169,732
161,953
176,662
164,189
142,322
Net profit/(loss) before income tax

provision
4,822
1,436
6,711
(1,155)
8,157
Net profit/(loss) after income tax provision
3,838
1,029
5,557
(3,103)
6,661
Surplus available for appropriation
3,912
13,574
13,545
13,888
20,952
Amount of dividend/stock dividend
27,000
13,500
13,500
13,500
20,250
Number of shares
1,350,000 1,350,000 1,350,000 1,350,000 1,350,000
Shareholders equity per share
209
216
225
231
251
Return on paid-up capital
4%
1%
4%
(2%)
5%
20%
Stock
10%
10%
10%
15%
Earning per share
2.84
0.76
4.12
(2.30)
4.93
Net asset value per share
209
216
225
231
251
704%
1316%
243%
(435%)
304%
(10)
(1)
72
13
25
7,209
7,187
7,270
Rate of dividend/Stock dividend
Pay out ratio

Net operating cash flow per share
Number of shareholders
7,530
8,071

STATISTICS OF FIVE YEARS NET SALES
(Taka in million
1,200.00
968.61
1,000.00
Net Sales
813.79
779.58
773.20
800.00
664.55
600.00
400.00
200.00
2005-2006
2006-2007
2007-2008
2008-2009
2009-2010
Financial Year
LOCAL
EXPORT
TOTAL
Country Wise Export for the year 2009-2010

DUBAI
2.19%
OTHERS
3.32%
AUSTRALIA
7.07%
FRANCE
17.06%
USA
20.10%
NEWZELAND
1.03%
POLAND
2.48%
GERMANY
19.65%
ENGLAND
8.23%
HOLLAND
6.28%
ITALY
5.00%
GREECE
7.11%
PORTUGAL
0.48%
CHAIRMANS REPORT
Dear shareholders,
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TURNOVER
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mvaviY mfvq Avwg Avbì mv_ Avcbvì
mevBK ^vMZ RvbvwQ Ges Avcbvì Kvvbxi
cwiPvjK clì c _K Kvvbxi 30k Ryb
2010 ZvwiL mgv eQii wbixwZ Avw_K
cwZe`b m^wjZ wbixKì cwZe`b I
cwiPvjKeì cwZe`b Avcbvì wbKU
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Dear shareholders,
wcq kqvinvvie`,
I am happy to report that 2009-2010 is a year

of success of your Company. You will be glad
to know that by the grace of Almighty Allah
and with all untiring efforts we have been able
to reach an increase net turnover of Tk.813.79
million during the year under review which is
4.39% more over the preceding years
turnover of Tk.779.58 million. This
achievement has become possible as a
feedback of putting the best effort to increase
the export sales. We achieved a net profit
before tax of Tk.4.82 million representing
growth of 235.89% over the previous year.
The net profit after tax of the Company is
Tk.3.84 million, an increase of Tk.2.81 million
or 272.79% over the previous year.
Cost/Expenses control initiatives has been
taken by the Company throughout the year
contributed significant improvement in the
profitability of the Company. We are
continuing our unremitting efforts to reduce
cost by taking various austerity measures in
each area of our operation.
Avwg Avbì mv_ RvbvwQ h 2009-2010

mvj Avcbvì Kvvbxi Rb GKwU mvdji
eQi| Avcbviv Rb Avbw`Z neb h
mekwgvY Avjvn Zvqjvi `qvq Ges Avgvì
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me nqQ| AvjvP eQi Kvvbx 4.82
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MZ eQii Zzjbvq 235.89 wgwjqb UvKv ewk|
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ev 272.79% ewk| eQi evcx Avcbvì
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Avgiv cwiPvjbvi cwZwU eq msKvPbi
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It gives me immense pleasure to welcome

you all to this the twenty-ninth Annual
General Meeting of Monno Ceramic
Industries Limited. On behalf of the Board of
Directors of your Company, I have the
privilege to present to you the Auditors
Report which includes the Audited Financial
Statements and the Directors Report for the
year ended the 30th June 2010.
FINANCE COST
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Please note that interest on Bank term loan

increased by Tk.2.62 million as compared to
previous year. Lease premiums have been
decreased due to final settlement of vehicles
rental agreement.
GLvb DjL h, AvjvP eQi Kvvbxi

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BMRE
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Kvhg cwiPvjbvi Dci `w `qv nQ|
You all are aware that ceramic technology has

made a significant advancement in terms of
productivity and quality. For this reason your
Company has always emphasized on
strengthening of our research and
development
activities
for
product
development and have focused on our
operational excellence to maintain quality and
standards which has enabled us to sustain
competition.
DIVIDEND
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Maintaining sound liquidityto finance the

proper working capital requirements for
smooth and uninterrupted production, to pay
timely installments of term loan, to reallocate
internal funds for modernization of the factory
according to the need of time, to consistently
maintain the rate of dividend and to meet any
unforeseen circumstancesis the ideology of
Monno.
Avw_K Znwej Zvij eRvq iL cqvRbxq

PjwZ g~jabi gvag ^Q` I wbiewQb
Drcv`b, h_v mgq FYi wKw cwikva,
mgqi Pvwn`v Abyhvqx KviLvbv AvaywbKxKiY
AfixY ZnwejK c~bweb Kiv, jfvsk
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In view of the availability of substantial

amount of reserve and the net operational
results have been better during the year under
review in comparison to the previous year,
the Board of Directors has recommended
20% stock dividend i.e. 1 bonus share for
every 5 ordinary shares for the year under
review, which requires your approval. We are
confident that you will stand by this decision
in the interest of long term prospects of the
Company.
msiwZ Znwej chv cwigvY A_ _vKvq Ges

c~eeZx eQii Zzjbvq AvjvP eQi
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CONCLUSION
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Dear shareholders,
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bZzb cwZwZv Ges wekevcx A_bwZK g`v
gvKvejvq Avgvì mKj KggZv Ges
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ewKiY| Avgvì cwZhvMxì mv_ g~j
cwZhvwMZvq vbxq DP g~j ew Zzjbv Ki
cwZhvwMZvg~jK g~j wbaviY Kiv nQ wekl
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mb cY Drcv`b Ges mybvg Azb ivLZ
Avgiv h_vmva Pv Kie| Avwg Avcbvì
mvweK mnhvwMZv Kvgbv KiwQ|
With a view to meeting the new challenges in

this free and competitive market environment
and world wide economic recession all our
efforts and activities are aimed at efficient
management, reduction of operational cost
and to increase more profitability of the
Company. The most important is price
competitiveness with our competitors
compared to high local cost. We will do all
our best to make the Company more
profitable, value added and reputed enterprise.
I seek all your co-operation.
I take this opportunity to express my sincere
thanks and gratitude to our business
associates, financial Institutions and
everyone the Company interacted with, in
conducting its business. Our main strength is
our dedicated and sincere human resources. I
thankfully acknowledge their contribution to
the Company.
Avgvì eemvwqK mnhvMx, Avw_K cwZvbmg~n

Ges Avgvì KgKvi mv_ mswk cZKK
Avgvi AvwiK abev` I KZZv RvbvwQ|
Avgvì AbZg kw nQ DrmMxKZ mPZb
I `vwqZmb Kgxevwnbx| Avwg KZZvi mv_
Zuvì Ae`vbi cksmv KiwQ|
Finally, we are very grateful to our valued

shareholders for extending their valuable
support and co-operation at all times to
bring the Company to the level it has
reached today. The success we have
achieved so far was only possible because
of the collective efforts of all concerned.
cwikl, Avgiv Avgvì mvwbZ kqvinvviMYi

wbKU Mfxi KZZv vcb KiwQ| Zvuì
mvewYK mwq mg_b Ges mnhvwMZvi djB
Kvvbx eZgvb chvq cuQvZ mg nqQ| G
ch Avgvì h mvdj Zv mKji mwwjZ
cPvi dmj|
Thanking you everybody.
Avcbvì mKjK abev`|
Sd/- H. R. Khan,
Chairman.
^vi/- GBP. Avi. Lvb,

mfvcwZ|
ZvwiLt XvKv, 28k Avei, 2010|
Dated : Dhaka, 28th October, 2010.

DIRECTORS REPORT TO THE SHAREHOLDERS
The Directors have pleasure in submitting their report and the audited accounts of the Company for
the fiscal year ended the 30th June 2010 along with the Auditors Report thereon.
FINANCIAL RESULTS
Net Revenue
Cost of goods sold
Gross Profit
Operating expenses
Profit from Operations
Other Income
Finance cost
Net Profit before Contribution to WPPF & WWF
Contribution to WPPF & Welfare Funds
For the year ended
For the year ended
30.06.2010
30.06.2009
813,786,510
(644,054,564)
779,581,461
(617,628,060)
-------------------
-------------------
169,731,946
(74,177,746)
161,953,401
(58,248,568)
------------------
------------------
95,554,200
(90,491,074)
103,704,833
4,225,000
(106,494,221)
-------------------
------------------
5,063,126
(241,101)
----------------
Net Profit before tax

Income tax provision
Net Profit after tax
Surplus brought forward from previous year
Transfer from general reserve
Profit/Surplus available for appropriation
Taka
1,435,612
-----------------
4,822,025
(984,365)
1,435,612
(406,161)
---------------
---------------
3,837,660
74,010
-
1,029,451
44,559
12,500,000
----------------
-----------------
3,911,670
13,574,010
==========
==========
APPROPRIATION OF AVAILABLE PROFIT/SURPLUS

Maintaining sound liquidityto finance the proper working capital requirements for smooth
and uninterrupted production, to pay timely installments of term loan, to reallocate internal funds
for modernisation of the factory according to the need of time, to consistently maintain the rate
of dividend, and to meet any unforeseen circumstances is the ideology of Monno.
In view of the availability of substantial amount of reserve and in comparison to the previous
year, the net operational results have been better during the year under review. Keeping in
view the performance of the Company and amount of reserve, the Board of Directors has
recommended 20% stock dividend i. e. 1 bonus share for every 5 ordinary shares for the year
under review, which requires your approval. We are confident that you will stand by this
decision in the interest of long term prospects of the Company.

DIRECTORS
Mr. Moynul Islam and Mr. Rasheed Mymunul Islam retire from the Board of Directors by rotation
in accordance with the provisions of articles 137 and 138 of the Articles of Association of the
Company and, being eligible, offer themselves for re-election as per article 139.
AUDITORS
The present Auditors of the Company, Messrs. A. Wahab & Co., Chartered Accountants, retire in
this meeting.
Securities and Exchange Commission, by its notification no. SEC/SRMID/2000-953/Admin/02-04
dated the 10th October 2001, gazetted on the 5th November 2001, imposed an embargo that no
company shall appoint any firm of Chartered Accountants as its statutory auditors for a
consecutive period exceeding three years. In pursuance thereof, Messrs. A. Wahab & Co.,
Chartered Accountants, are not eligible for re-appointment as Auditors of the Company for the
next term.
A shareholder of our Company proposed the name of Messrs. Shiraz Khan Basak & Co., Chartered
Accountants, to be Auditors of the Company and the latter also offered themselves for being
appointed as Auditors of the Company for the year ending the 30th June 2011. Accordingly, the
matter be placed in this Annual General Meeting for consideration of the shareholders.
REPORTING ON THE CORPORATE GOVERNANCE COMPLIANCE
Pursuant to the condition no. 5 of the Securities and Exchange Commissions notification no.
SEC/CMRRCD/2006-158/Admin/02-08 dated the 20th February 2006, Gazetted on the 26th
April 2006, we attach the Corporate Governance Compliance Report on compliance with the
conditions in prescribed format.
On behalf of the Board of Directors,
Sd/- H. R. Khan,
Chairman
Dated : 28th October 2010.

Status Report required to be presented by the Company in pursuance to notification no.
SEC/CMRRCD/2006-158/Admin/02-08 of 20th February 2006, Gazetted on the 26th April 2006,
issued by Securities & Exchange Commission.
The number of Board Meetings and the attendance of Directors during the year 2009-2010 were as
follows:Name of the Directors
Mr. Harunar Rashid Khan
Chairman
Mr. Moynul Islam
Vice Chairman
Mrs. Afroza Khan
Managing Director
Mrs. Huron Nahar Rashid
Director
Mr. Rasheed Mymunul Islam
Director
Mr. Rashid-ul Hasan
Number of Board
Meetings held
21
Number of Board
Meetings attended
21
21
19
21
21
21
21
21
21
21
21
SHAREHOLDING STRUCTURE
Shareholdings of other related parties as on June 30, 2010 is as follows :
Name of shareholder
Monno Welfare Foundation
Number of shares
568,830
% of shareholding
42.14
Number of shares held by the Directors of the Company as on June 30, 2010 is as follows :
Name of the Directors
Mr. Harunar Rashid Khan
Mr. Moynul Islam
Mrs. Afroza Khan
Mr. Harunar Rashid Khan &
Mr. Rasheed Mymunul Islam
Mr. Rashid-ul Hasan
Designation
Chairman
Vice Chairman
Managing Director
Director
Chairman &
Director
Director
No. of shares % of shareholding

31,050
2.30
1,305
0.10
162,405
12.03
9,175
0.68
905
0.07
4,627
1,360
0.34
0.10

Shareholders holdings ten percent (10%) or more in the Company as on June 30, 2010 is as follows :
Name of shareholder
Number of shares
% of shareholding
Mrs. Afroza Khan
162,405
12.03
568,830
42.14
ICB Unit Fund
139,395
10.33
The Directors also report that
The Financial Statements of the Company present a true and fair view of Companys state of
affairs, result of its operations, cash flows and changes in equity.
Proper books of accounts as required by law have been maintained.
Appropriate accounting policies have been followed in formulating the Financial Statements
and Accounting estimates were reasonable and prudent.
The Financial Statements was prepared in accordance with International Accounting

Standard (IAS) as applicable in Bangladesh.
The Internal Control System is sound in design and effectively implemented and monitored.
There are no significant doubts upon the companys ability to continue as a going concern.
There is no significant deviation from the operating result of last year.
Securities and Exchange Commissions Corporate Governance Compliance Report is

enclosed herewith.
Key operating and financial data of last four years presented in summarized form.

KEY OPERATING AND FINANCIAL DATA
(Figures in 000 taka)
Particulars
2009-2010 2008-2009 2007-2008 2006-2007 2005-2006

813,787
779,581
968,614
773,204
664,548
644,055
617,628
791,952
609,015
522,226
169,732
161,953
176,662
164,189
142,322
74,178
58,249
59,292
55,161
62,540
95,554
103,705
117,370
109,028
79,782
90,491
106,494
116,039
116,023
75,764
4,822
1,436
6,711
(1,155)
8,157
3,838
1,029
5,557
(3,103)
6,661
281,554
291,217
303,687
311,631
338,195
921,890
926,635
959,355
977,426
906,893
451,403
408,515
404,144
479,036
445,939
533,096
507,290
506,135
491,611
434,240
554,536
545,213
541,280
526,297
407,755
Turnover
Cost of goods sold
Gross profit
Operating expenses
Operating profit
Finance cost
Profit/(loss) before tax
Profit/(loss) after tax
Shareholders equity
Total asset
Total bank borrowings
Total current assets
Total current liabilities
Current ratio (time)
Shareholders equity per share
Return on paid-up capital
Rate of dividend/stock dividend
0.96
209
4%
20%
stock
2.84
209
704%
(10)
7,209
Earning per share

Net asset value per share
Pay out ratio
Net operating cash flow per share
Number of shareholders
0.93
216
1%
10%
0.94
225
4%
10%
0.93
231
(2%)
10%
1.06
251
5%
15%
0.76
216
1316%
(1)
7,187
4.12
225
243%
72
7,270
(2.30)
231
(435%)
13
7,530
4.93
251
304%
25
8,071
VALUE ADDED STATEMENT

Particulars
Turnover & other Income
Bought-in-Materials & Services
Value Added
Taka
Applications:
National Exchequer
Salaries and benefits to employees
Interest to lenders
Retained by the Company
Taka
2009-2010
Amount
%
813,786,510
(599,054,656)
--------------------214,731,854
--------------------15,097,291
138,267,522
57,529,381
3,837,660
--------------214,731,854
=========
7
64
27
2
----100
===
2008-2009
Amount
%
783,806,461
(582,325,312)
----------------------201,481,149
----------------------16,895,940
128,278,125
55,277,633
1,029,451
--------------201,481,149
=========
8
64
27
1
----100
===

Corporate Governance Compliance Report
Status of compliance with the conditions imposed by the Commissions Order No.
SEC/CMRRCD/2006-158/Admin/02-08 dated the 20th February 2006, issued under section 2CC of
the Securities and Exchange Ordinance, 1969. (Report under Condition No. 5.00)
Condition
no.
Title
Compliance status
Complied
1.00
1.1
Boards Size: (Not less than 5 and
not more than 20)
1.2(i)
Appointment of Independent
Director. At least 1/10th.
Complied
1.2(ii)
Appointment of Independent
Director by the elected Directors
Complied
1.3
Chairman of the Board and

Chief Executive Officer of the
Company
Complied
1.4
The Directors Report to the

shareholders on:
Complied
1.4(a)
Fairness of Financial Statements
Complied
1.4(b)
Maintenance of proper books of

accounts
Complied
1.4(c)
Adoption
Accounting
estimates
appropriate
policies
and
Complied
1.4(d)
Compliance with International

Accounting Standard (IAS).
Complied
1.4(e)
Soundness of Internal Control

System
Complied
1.4(f)
Ability to continue as a going

concern
Complied
1.4(g)
Significant deviations from last

year
Complied
1.4(h)
Presentation of last four years

key operating and financial data
Complied
1.4(i)
Declaration of Dividend
Complied
1.4(j)
Details of Board Meeting and

attendance
Complied
1.4(k)
Shareholding Pattern
Complied
of
Complied
Not complied
Explanation for non

compliance with the
Condition

Condition
no.
Title
Compliance status
Complied
2.00
CHIEF FINANCIAL OFFICER

(CFO) HEAD OF INTERNAL
AUDIT AND COMPANY
SECRETARY:
2.1
Appointment of CFO, Head of

Internal Audit and Company
Secretary.
Complied
2.2
Attendance of CFO and the

Company Secretary at Board of
Directors meeting
Complied
3.00
AUDIT COMMITTEE:
3.1(i)
Constitution of Audit Committee
Complied
3.1(ii)
Constitution of Committee with

Board members including one
Complied
3.1(iii)
Filling of Casual vacancy in

Committee
Not Applicable
3.2(i)
Chairman of the Committee
Complied
3.2(ii)
Professional qualification and

experience of the Chairman of
the Committee
Complied
3.3.I(i)
Reporting to the Board of

Directors
Complied
3.3.I(ii)(a)
Reporting of Conflict of Interest

to the Board of Directors
Not Applicable
3.3.I(ii)(b)
Reporting of any fraud or

irregularity or defect in the
internal control system
Not Applicable
3.3.I(ii)(c)
Reporting of infringement of
laws
Not Applicable
Explanation for non

compliance with the
Not complied Condition

Condition
no.
Title
Compliance status
Complied
3.3.I(ii)(d)
Reporting of any other matter to

the Board of Directors
Not Applicable
3.3.2
Reporting to the Authorities
Not Applicable
3.4
Reporting of activities to the

Shareholders
and
General
Investors
Not Applicable
4.00
EXTERNAL/STATUTORY
AUDITORS :
Complied
4.00(i)
Non engagement in appraisal or

valuation
Complied
4.00(ii)
Non engagement in designing

of Financial information system
Complied
4.00(iii)
Non engagement in Bookkeeping or other services

related to financial statements
Complied
4.00(iv)
Non engagement in Brokerdealer services
Complied
4.00(v)
Non engagement in Actuarial

services
Complied
4.00(vi)
Non engagement in Internal

Audit Services
Complied
4.00(vii)
Non engagement in any other

services
Complied
Not complied
Explanation for non

compliance with the
Condition

INDEPENDENT AUDITORS REPORT TO THE SHAREHOLDERS
We have audited the accompanying Balance Sheet of MONNO CERAMIC INDUSTRIES
LIMITED as of June 30, 2010 and the Profit and Loss Account, Statement of Changes in Equity
and Statement of Cash Flows for the year then ended. These financial statements are the
responsibility of the companys management. 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 (BSA). Those
standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by
management as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements prepared in accordance with Bangladesh Accounting
Standard (BAS), give a true and fair view of the state of the companys affairs as of June 30,
2010 and of the results of its operations and its cash flows for the year then ended and comply
with the Companies Act 1994, the Securities and Exchange Rules 1987 and other applicable
laws and regulations.
We also report that :
(a) We have obtained all the information and explanations which to the best of our knowledge
and belief were necessary for the purposes of our audit and made due verification thereof;
(b) In our opinion, proper books of account as required by law have been kept by the company
so far as it appeared from our examination of those books;
(c) The companys Balance Sheet and Profit and Loss Account dealt with by the report are in
agreement with the books of account; and
(d) The expenditure incurred was for purpose of the companys business.
Dhaka,
Dated: October 28, 2010
SD/(A. WAHAB & CO.)
CHARTERED ACCOUNTANTS

BALANCE SHEET
AS AT 30 JUNE, 2010
(Amount in Taka)
Notes
30.06.2010
30.06.2009
12.00
13.00
388,793,762
304,293,762
84,500,000
419,344,612
334,844,612
84,500,000
14.00
14.01
14.02
14.03
14.04
533,095,781
328,571,701
75,131,831
95,505,959
33,886,290
507,290,350
319,582,782
80,658,889
89,215,510
17,833,169
TOTAL ASSETS
EQUITY AND LIABILITIES
SHAREHOLDERS EQUITY
Taka
921,889,543
926,634,962
Issued and Paid-up Share Capital

Revenue Reserve & Surplus
15.00
16.00
281,554,453
135,000,000
146,554,453
291,216,793
135,000,000
156,216,793
Long Term Borrowing (Secured)

Deferred Liability
17.00
18.00
85,799,137
75,096,392
10,702,745
90,204,999
79,351,514
10,853,485
CURRENT LIABILITIES
19.00
19.01
19.02
19.03
19.04
19.05
19.06
19.07
554,535,953
361,562,287
14,744,000
85,789,174
17,708,986
13,334,615
11,631,772
49,765,119
545,213,170
315,149,296
14,013,968
110,445,457
15,672,496
12,895,115
10,647,407
66,389,431
Taka
921,889,543
926,634,962
208.56
215.72
ASSETS
NON-CURRENT ASSETS
Property, Plant and Equipment - At cost Less Depreciation
Investments
CURRENT ASSETS
Inventories
Trade & other Receivables
Advance, Deposits & Pre-payments
Cash and cash Equivalents
NON-CURRENT LIABILITIES
Short Term Borrowings

Long Term Loans (Current portion)
Trade & other Payables
Accrued Expenses
Unclaimed Dividend
Provision for Income Tax
Liabilities for other Finance
TOTAL LIABILITIES AND SHAREHOLDERS
EQUITY
Net Assets Value per share
Accounting Policies
11.00
The annexed notes form an integral part of the financial statements.
Approved and authorised for issue by the Board of Directors on October 28, 2010 and signed for
and on behalf of the Board.
SD/(MD. EKRAMUL HOQUE)
COMPANY SECRETARY
Dhaka,
Dated : October 28, 2010
SD/(AFROZA KHAN)
MANAGING DIRECTOR
SD/(H. R. KHAN)
CHAIRMAN
Subject to our separate report

of even date annexed.
SD/(A. WAHAB & CO.)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE, 2010
Amount in Taka
For the year ended
For the year ended
30.06.2010
30.06.2009
813,786,510
(644,054,564)
779,581,461
(617,628,060)
Gross Profit
169,731,946
161,953,401
Operating Expenses
Administrative Expenses
Selling and Distribution Expenses
22.00
23.00
(74,177,746)
(39,384,183)
(34,793,563)
(58,248,568)
(27,541,042)
(30,707,526)
24.00
25.00
95,554,200
(90,491,074)
103,704,833
4,225,000
(106,494,221)
26.00
5,063,126
(241,101)
1,435,612
-
4,822,025
1,435,612
Notes
Net Revenue
Cost of Goods Sold
20.00
21.00
Profit from Operations

Other Income
Finance cost
Net Profit Before Contribution to WPPF
Contribution to WPPF & WWF
Net Profit Before Tax
Income Tax Provision
19.06
Net Profit after Tax Transferred to statement of changes in equity
Taka
27.00 Taka
Basic Earnings per share (Par value Tk.100.00)

Number of Shares used to Compute EPS
Accounting Policies
(984,365)
(406,161)
3,837,660
2.84
1,029,451
0.76
1,350,000
1,350,000
11.00
Figures in brackets indicate deductions.

The annexed notes form an integral part of the Financial Statements.
Approved and authorised for issue by the Board of Directors on October 28, 2010 and signed for

COMPANY SECRETARY
Dhaka,
SD/(AFROZA KHAN)
MANAGING DIRECTOR
SD/(H. R. KHAN)
CHAIRMAN

SD/(A. WAHAB & CO.)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED JUNE 30, 2010
(Amount in Taka)
For the Year-2008-2009

General
Dividend
reserve
equalisation
reserve
135,000,000 16,000,000 139,142,783
Share
capital
Particulars
Balance, July 01, 2008
Retained
earning
Proposed
dividend
Total
44,559
13,500,000
303,687,342
Net Profit for the year
1,029,451
1,029,451
Transferred to dividend payable
(13,500,000)
(13,500,000)
Transferred from General reserve
Proposed Dividend for the

year 2008-2009
At the end of the year
(12,500,000) 12,500,000
(13,500,000) 13,500,000
135,000,000 16,000,000 126,642,783
74,010
13,500,000
291,216,793
General
Dividend
reserve
equalisation
reserve
135,000,000 16,000,000 126,642,783
Retained
earning
Proposed
dividend
Total
74,010
13,500,000
291,216,793
For the Year-2009-2010

Share
capital
Particulars
Balance, July 01, 2009
Net Profit for the year
Transferred to dividend payable
Transferred from General

reserve
At the end of the year
135,000,000 16,000,000 126,642,783
3,837,660
3,837,660
(13,500,000)
(13,500,000)
281,554,453
3,911,670
Total Number of Shares
1,350,000
Shareholders Equity per share
Taka
208.56

Approved and authorised for issue by the Board of Directors on October 28, 2010 and
signed for and on behalf of the Board.

COMPANY SECRETARY
Dhaka,
SD/(AFROZA KHAN)
MANAGING DIRECTOR
SD/(H. R. KHAN)
CHAIRMAN

SD/(A. WAHAB & CO.)


CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE, 2010
Amount in Taka
30.06.2010
30.06.2009
Cash Flows from Operating Activities

Cash Receipts from Customers and Others
Cash Paid to Suppliers, Employees and others
Interest Paid
(13,535,419)
819,313,567
(775,319,605)
(57,529,381)
(955,446)
778,676,350
(724,354,163)
(55,277,633)
Cash Flows from Investing Activities

Acquisition of Property, Plant and Equipment
Dividend received
(88,122)
(88,122)
-
4,065,189
(159,811)
4,225,000
29,676,661
(3,525,090)
46,412,991
(13,060,500)
(150,740)
--------------16,053,120
(2,517,015)
(43,266,042)
47,637,227
(6,439,671)
(448,529)
--------------592,728
17,833,169
-------------33,886,290
========
(10.03)
17,240,441
-------------17,833,169
========
(0.71)
Note
Cash Flows From Financing Activities

Decrease in Long Term Borrowings
Increase/ (Decrease) in Short Term Borrowings
Dividend Paid
Deferred Liability
Increase/(Decrease) in cash & cash equivalents
Cash and Cash Equivalents at Beginning of year
Cash and Cash Equivalents at end of year
Net operating cash flows per share
Taka
Figures in brackets indicate negative balance

Approved and authorised for issue by the board of directors on October 28, 2010 and signed for
COMPANY SECRETARY
Dhaka,
SD/(AFROZA KHAN)
MANAGING DIRECTOR
SD/(H. R. KHAN)
CHAIRMAN

SD/(A. WAHAB & CO.)


Notes to the Financial Statements
As at and for the year ended June 30, 2010
1.00.
Corporate History of the Reporting Entity

Monno Ceramic Industries Limited (The Company) was incorporated in Bangladesh on 21st
April, 1981 as a Public Limited Company under The Companies Act, 1913. The Company
went for public issue of shares in 1985 and its shares are listed with the Dhaka Stock
Exchange Limited & Chittagong Stock Exchange Limited since 1983 and 1995 respectively
The principal place of business of the company and its registered office is situated at 9,
Wyre Street, Wari, Dhaka-1203 and the factory is located at Islampur, Dhamrai, Dhaka1350.
2.00.
Corporate Business
The Company owns and operates modern ceramic wares factory and produces high quality
Porcelain tableware products and sells them in the local as well as International Markets.
3.00.
Corporate Financial Statements and Reportings

Financial statements comprise of Balance Sheet, Profit and Loss Account, Statement of
Changes in Equity, Cash Flow Statement, notes and explanatory materials covering
accounting policies.
Financial statements are prepared under the historical cost convention and in accordance
with the requirements of the Companies Act 1994, the Securities and Exchange Rules
1987, the Listing Regulations of Dhaka and Chittagong Stock Exchanges and the
International Accounting Standards (IASs) adopted by the Institute of Chartered
Accountants of Bangladesh (ICAB) as well as those standards, disclosures recommended
by IASs and as applicable to this company.
The Board of Directors are responsible for preparing and presenting the financial
statements including adequate disclosures, who approved and authorised for issue of
these financial statements.
The preparation of financial statements in conformity with Bangladesh Accounting
Standards requires Board of Directors to make estimates and assumptions that affect the
reported amounts of revenues and expenses, assets and liabilities at the date of the
reporting period. Due to the inherent uncertainty involved in making estimates, actual
result reported could differ from those estimates
4.00.
Fundamental Accounting Concepts/Assumption

The financial statements have been prepared based on Going concern, Consistency
concept, Accrual concept and such other convention as required by BAS-1 for fair
presentation of financial statements.

5.00.
Corporate Accounting Standards Practiced

The ICAB has adopted to date the following IASs for Bangladesh:
BAS 1
BAS 2
BAS 7
BAS 8
BAS 10
BAS 11
BAS 12
BAS 14
BAS 16
BAS 17
BAS 18
BAS 19
BAS 20
BAS 21
BAS 22
BAS 23
BAS 24
BAS 25
BAS 26
BAS 27
BAS 28
BAS 30
BAS 31
BAS 33
BAS 34
BAS 35
BAS 36
BAS 37
BAS 38
BAS 40
Presentation of Financial Statements

Inventories
Cash Flow Statements
Net Profit or Loss for the period, Fundamental Errors and Changes in Accounting Policies
Events after the Balance Sheet Date
Construction Contracts
Income Taxes
Segment Reporting
Property, Plant and Equipment
Leases
Revenue
Employee Benefits
Accounting for Government Grants and disclosures of Government Assistance
The effects of Changes in Foreign Exchange Rates
Business Combinations
Borrowing Costs
Related Party Disclosures
Accounting for Investments
Accounting and Reporting by Retirement Benefit Plans
Consolidated Financial Statements and Accounting for Investments in Subsidiaries
Accounting for Investment in Associates
Disclosures in the Financial Statements of Banks and similar Financial Institutions
Financial Reporting of Interests in Joint Ventures
Earnings Per Share
Interim Financial Reporting
Discontinuing Operations
Impairment of Assets
Provisions, Contingent Liabilities and Contingent Assets
Intangible Assets
Investment Property
Of the BASs referred above, BASs 1, 2, 7, 8, 10, 12, 16, 17, 18, 21, 23, 24, 25, 28, 33, 36
and 37 are applicable for the accompanied financial statements and the remaining BASs
either are not relevant or effective for the financial statements under audit.
6.00.
Related Party Transactions

All the related party transactions have been accounted for, considering these on arms
length basis, the details of which are disclosed in Note 29.

7.00.
Net Profit Before Tax

Net profit before tax for the year were not materially affected by:
(a)
(b)
(c)
(d)
8.00.
Transactions of a nature not usually undertaken by the company;

Circumstances of an exceptional or non-recurring nature;
Charges or credits relating to prior years; and
Changes in accounting policies.
Reporting Currency and Level of Precision

The financial statements are presented in Bangladesh currency (Taka), which have been
rounded off to the nearest Taka except where indicated otherwise.
Figures in brackets indicate negative balance.
9.00.
Comparative Amounts
Wherever necessary, figures of the prior year has been re-arranged to conform with the
current years presentation as required by BAS-1.
10.00. Historical Cost Profit and Losses

There was no revaluation of fixed assets in previous years and during the year under
audit. Therefore, there was no factor like the differences between historical cost
depreciation and depreciation on revalued amount, realization of revenue surplus on
retirement or disposal of assets, etc. Accordingly, no separate note of historical cost profit
and loss has been presented.
11.00. Principal Accounting Policies
The specific accounting policies selected and applied by the Companys directors for
significant transactions and events that have material effect within the framework of BAS 1
Presentation of Financial Statements, in preparation and presentation of financial
statements have been consistently applied throughout the year and were also consistent
with those used in earlier years.
For a proper understanding of the financial statements, these accounting policies are set
out below in one place as prescribed by the BAS 1 Presentation of Financial
Statements. The recommendation of BAS-1 relating the format of financial statements
were also taken into full consideration for fair presentation.
11.01. Recognition of Tangible Fixed Assets
These are capitalised at cost of acquisition and subsequently stated at cost less
accumulated depreciation. The cost of acquisition comprises of purchase price, including
import duties and non-refundable Taxes and any directly attributable cost of bringing the
assets to its working condition for its intended use. Expenditure incurred after the assets
have been put into operation, such as repairs & maintenance is normally charged off as
revenue expenditure in the period in which it is incurred. In situation where it can be
clearly demonstrated that the expenditure has resulted in an increase in the future
economic benefit expected to be obtained from the use of the fixed assets, the
expenditure is capitalised as an additional cost of the assets.

On retirement or otherwise disposal of fixed assets, the cost and accumulated depreciation
are eliminated and any gain or loss on such disposal is reflected in the Income Statement
which is determined with reference to the net book value of assets and the net sales proceeds.
Fixed assets which are yet to be certified for operation, have been kept as Capital Workin-progress.
11.02. Depreciation of Tangible Fixed Assets
No depreciation is charged on land and land development and capital work in progress.
Depreciation on all other fixed assets is computed using the reducing balance method.
Full years depreciation is charged on additions irrespective of date when the related assets
are put into use and no depreciation is charged on retirement, irrespective of date of
retirement.
After considering the useful life of assets as per BAS-16, the annual depreciation rates
have been applied as under, which is considered reasonable by the management.
Building and other Constructions
Plant, Machinery & Equipments
Vehicles
Furniture & Fixtures
Sundry Assets
2009-2010
10%
10%
20%
10%
10%
2008-2009
10%
10%
20%
10%
10%
11.03. Impairment of Assets

In accordance with the provisions of BAS 36 : Impairment of Assets, the carrying amount
of non-financial assets, other than inventories are reviewed at each reporting date to
determine whether there is any indication of impairment. If any such indication exists,
then the assets recoverable amount is estimated and impairment losses are recognized in
profit and loss account. No such indication of impairment has been observed till to date.
11.04. Revenue Recognition
In compliance with the requirements of BAS 18 : Revenue, revenue from 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.
11.05. Inventories
Inventories comprise of Raw Materials, Work-in-process, Finished goods, Stores &
Spares and Materials-in-transit. Raw Materials and Stores and Spares have been valued at
average cost. Materials-in-transit have been valued at the cost incurred upto the date of
Balance Sheet. Work-in-process have been valued at prime cost basis as required by
BAS-2 with proportionate addition of Factory Overheads. Finished goods have been
valued at the lower of cost and net realizable value basis.

11.06. Income Tax
A) Current Tax
The Company qualifies as a Publicly Traded Company as per income tax law and
therefore provision for income tax has been made at the existing rate of 27.5% on
business income with due consideration of rebate allowable on profit attributable
from export (as applicable).
B) Deferred Tax
Deferred Tax liability/assets is accounted for all temporary differences arising
between the tax base of the assets and liabilities and their carrying value for financial
reporting purposes. The provision made appears to be adequate, hence no further
provision has been made during the year under audit.
11.07. Cash and Cash Equivalents
Cash in hand and cash at banks have been considered as cash and cash equivalents for the
preparation of these financial statements, which were held and available for use by
company without any restriction and there was insignificant risk of changes in value of the
same.
11.08. Cash Flow Statement
Cash flow statement is prepared principally in accordance with BAS-7 Cash Flow
Statements and the cash flows from the operating activities have been presented under
Direct method as required by the Securities and Exchange rules 1987 and considering the
provisions of paragraph-19 of BAS-7 which provides that Enterprises are Encouraged to
Report Cash Flow from Operating Activities Using the Direct Method.
11.09. Transactions in Foreign Currencies
Transactions in foreign currencies are converted into Bangladesh Taka at the exchange rate
ruling on the date of Balance Sheet. Any gain/loss in foreign currency transaction is
recognised as gain/loss from foreign currency transaction in the profit and loss account.
11.10. Borrowing Costs
Finance Cost (Borrowing Costs) incurred during the year was recognised as revenue
expenses, except for IDCP which has been capitalised with due consideration of BAS-23.
11.11. Leases
The lease is classified as an operating lease.
Lease payments are recognized as finance cost in the income statement.
11.12. Earning Per Share (EPS)
The company calculates Basic Earnings per share (EPS) in accordance with the
Bangladesh Accounting Standards (BAS-33). Diluted earning per share is not applicable
for the Company as it has no such convertible securities.
11.13. Reporting Period
The financial period of the company covers one fiscal year from 1st July to 30th June
Consistently.

12.00. PROPERTY, PLANT & EQUIPMENT : TK.304,293,762
The movement in property, Plant & equipment is as under :
C
Particulars
Balance
as on
01.07.2009
O S T
D E P R E C I A T I O N
Written down Written down
Addition
during
the year
Balance
as on
30.06.2010
Balance
as on
01.07.2009
Charged
during
the year
Balance
as on
30.06.2010
Value
as on
30.06.2010
Value
as on
30.06.2009
26,426,383
26,426,383
Land & land

development
Building and other
construction
Plant , machinery and
equipment
Vehicles
26,426,383
26,426,383
202,848,714
202,848,714
140,629,929
6,221,878
146,851,808
55,996,905
62,218,785
752,098,191
1,242,475
15,142
-
752,113,333
1,242,475
511,386,444
1,186,447
24,072,689
11,206
535,459,133
1,197,652
216,654,200
44,823
240,711,746
56,028
Furniture and fixtures
7,753,537
72,980
7,826,517
5,171,155
265,536
5,436,692
2,389,825
2,582,382
Sundry assets
3,615,261
3,615,261
2,938,636
67,662
3,006,299
608,962
676,625
Capital Work-in Progress
2,172,664
2,172,664
2,172,664
2,172,664
304,293,762
334,844,612
Total 30.06.2010
996,157,225
88,122
996,245,347
661,312,613
30,638,972
691,951,584
Notes:
1) The rate and basis of depreciation are stated in note 11.02.
2) Depreciation has been apportioned as below :
30.06.2010
a) Conversion cost
b) Administrative expenses
c) Selling and distribution expenses
Taka
30.06.2009
30,294,567
333,199
11,206
33,658,948
362,112
14,007
-----------------
------------------
30,638,972
34,035,067
==========
==========
30.06.2010
84,500,000
30.06.2009
84,500,000
-----------------
-----------------
13.00. INVESTMENTS : TK.84,500,000.

Investment in share
(Note-13.01)
Taka
84,500,000
84,500,000
==========
==========
13.01. Investment in shares represents the cost of 845,000 Ordinary shares of Tk.100.00 each of
Monno Fabrics Ltd.(MFL) an associated undertaking of the company.
The market value of the shares as on June 30, 2010, stands at Tk.58,093,750.00 (Tk.68.75
per share), which increased substantially at a subsequent period. The share value being
highly fluctuate no increase/decrease could be considered as permanent. Hence no
provision has been made in this regard.
14.00. CURRENT ASSETS :TK. 533,095,781
This is made up as follows :
30.06.2010
30.06.2009
Inventories
(Note-14.01)
328,571,701
319,582,782
Trade & other Receivables
(Note-14.02)
75,131,831
80,658,889
Advances, deposits & prepayments
(Note-14.03)
95,505,959
89,215,510
Cash & cash equivalents
(Note-14.04)
33,886,290
17,833,169
------------------
Taka
------------------
533,095,781
507,290,350
===========
===========

14.01. Inventories : Tk. 328,571,700
Break-up of the amount is given below :
Raw & other auxiliary materials
Finished goods
Stores & spares
Work-in-process
Materials-in-transit
(Note-14.01.1)
(Note-14.01.2)
(Note-14.01.3)
(Note-14.01.4)
(Note-14.01.5)
Taka
30.06.2010
30.06.2009
71,442,633
39,360,094
76,346,850
135,985,024
5,437,100
70,703,247
41,734,303
74,313,587
126,379,245
6,452,400
------------------
------------------
328,571,701
319,582,782
===========
===========
14.01.1. The raw & other auxiliary materials have been valued at average cost.
14.01.2. The finished goods have been valued at lower of cost and net realizible value basis.
14.01.3. Stores & spares have been valued at average cost.
14.01.4. The work-in-process have been valued at prime cost with proportionate addition of
factory overhead.
14.01.5. Materials-in-transit represents the cost incurred up to the date of balance sheet for
consignment which have subsequently been cleared.
14.02. Trade & Other Receivable: Tk. 75,131,831
The break-up and nature of debtors are given below:
30.06.2010
30.06.2009
Export bills receivable

Duty draw back
Parties/Institutions
60,438,818
3,361,215
11,331,798
64,572,156
3,361,216
12,725,517
-----------------
-----------------
(secured)
(secured)
Taka
75,131,831
80,658,889
==========
==========
14.02.1. The amount due from parties/institutions are considered good and most of them have
been realised subsequently.
14.02.2. No amount was due from the directors (including Managing Director), managers and other
officers of the company and from any of them severally or jointly with any other person.
14.03. Advances, Deposits & Prepayments :Tk. 95,505,959
This is made up as follows:
i)
ADVANCES:
Advance against purchase/supplies
Advance income tax
Advance rent, rates & taxes
Other advances
(Note
14.03.1)
(Note
14.03.2)
30.06.2010
30.06.2009
12,364,147
10,177,304
56,588,567
49,171,548
6,990,775
2,614,988
78,558,477
620,253
9,509,157
69,478,262

30.06.2010
ii)
DEPOSITS:
Security deposits
Lease deposits
Value added tax
5,773,064
6,635,687
3,142,712
15,551,463
iii) PREPAID INSURANCE

Taka
30.06.2009
5,773,064
8,055,287
2,867,244
16,695,595
1,396,020
3,041,653
------------------
-------------------
95,505,959
89,215,510
===========
===========
14.03.1. This represents the amount paid to different suppliers against purchase of raw and other
auxiliary materials. Such advances were made in the normal course of business where no
collateral security is required. The entire amount has been adjusted subsequently.
14.03.2. Advance Income Tax : Tk.56,588,567
This is made-up as follows:
30.06.2010
30.06.2009
Opening Balance
Add:
49,171,548
7,417,019
42,045,106
7,126,442
6,955,416
461,603
7,126,442
-
-----------------
-----------------
Addition During the Year

Deposits for Appeal (Assessment year 2007-2008)
Taka
56,588,567
49,171,548
==========
==========
14.03.3. No amount was due from the Directors (including Managing Director) of the company
and from any of them severally or jointly with any other person.
14.04. Cash and Cash Equivalents : Tk. 33,886,290
This is made-up as follows:
30.06.2010
30.06.2009
a. Cash in hand
5,364,041
4,805,109
b. Cash at banks
27,306,738
9,982,160
27,252,010
54,728
9,927,079
55,081
In current accounts
In STD accounts
c. Foreign currency retention account,
$ 10,430.10 & EURO 5,731.83
Taka
1,215,511
3,045,900
-----------------
-----------------
33,886,290
17,833,169
==========
==========
The above bank balances have been confirmed and reconciled with respective bank
statement balances as on 30.06.2010.
The above balances were held and available for use by the company without any restriction.

15.00. ISSUED, SUBSCRIBED & PAID UP CAPITAL: TK. 135,000,000
This represents :
30.06.2010
30.06.2009
900,000 Ordinary shares of Tk.100 each paid-up

in full in cash
90,000,000
90,000,000
450,000 Ordinary shares of Tk.100 each paid-up

in full as Bonus Share
Taka
(a)
45,000,000
45,000,000
_______________
_______________
135,000,000
=========
135,000,000
=========
The break-up of the share holdings is given below:

30.06.2010
No.of shares
%
Sponsors & Directors

Institutions
Others
General public
Foreign investors
Total
(b)
210,827
886,816
568,830
317,986
252,167
190
-----------1,350,000
=======
30.06.2009
No.of shares
%
15.62
65.69
42.14
23.55
18.68
0.01
-------100.00
=====
333,067
779,457
446,730
332,727
237,261
215
-----------1,350,000
=======
24.67
57.74
33.09
24.65
17.57
0.02
-------100.00
=====
The distribution schedule showing the number of shareholders and their shareholdings in
percentage are as follows:
Range of holdings
in number of shares
No. of shareholders
30.06.2010 30.06.2009
1 to
499
500 to
5000
5,001 to
10,000
10,001 to
20,000
20,001 to
30,000
30,001 to
40,000
40,001 to
50,000
50,001 to 100,000
100,001 to 1,000,000
Over 1,000,000
7,118
78
3
3
1
1
3
2
-
7,096
77
3
3
1
1
3
3
-
Total
7,209
7,187
No. of shares
Holding %
30.06.2010
30.06.2009
30.06.2010 30.06.2009
212,651
94,320
22,750
44,640
26,755
31,050
186,599
731,235
-
205,377
87,699
19,200
47,600
26,755
36,175
194,509
732,685
-
15.75
6.99
1.69
3.31
1.98
2.30
13.82
54.16
-
15.21
6.50
1.42
3.53
1.98
2.68
14.41
54.27
-
1,350,000 1,350,000
100.00
100.00

(c) Option on unissued shares :
There is no option regarding authorised capital not yet issued but can be issued to
increase the issued, subscribed and paid up capital through the issuance of new shares
against cash contribution and bonus.
(d) Market Price :
The Shares of the company are listed in the Dhaka Stock Exchange Ltd. and
Chittagong Stock Exchange Ltd. and quoted @Tk.447.50 and @Tk.540.00 per share
respectively in the Dhaka Stock Exchange Ltd.and Chittagong Stock Exchange Ltd.
as on June 30, 2010.
16.00. REVENUE RESERVES & SURPLUS : TK.146,554,452
The break-up of the amount is shown below :
Dividend equalisation reserve
General reserve
Retained Earnings as of June 30,2010
(Note 16.01)
(Note 16.02)
Taka
30.06.2010
30.06.2009
16,000,000
126,642,783
3,911,669
16,000,000
140,142,783
74,010
------------------
------------------
146,554,452
156,216,793
===========
===========
16.01. Details of the balance has been shown in the statement of changes in equity.
16.02. Details of the balance has been shown in the statement of changes in equity.
17.00. LONG TERM LOAN: TK.75,096,392
The break-up of the amount is given below :
30.06.2010
30.06.2009
Balance as on 30.06.2010
89,840,392
(14,744,000)
93,365,482
(14,013,968)
-----------------
-----------------
Less : Current Portion which has been shown in current Liabilities
Taka
75,096,392
79,351,514
==========
==========
17.01. Nature of Security of loans

Sonali Bank-Fully secured by first charge on the fixed assets of the company and
personal guarantee of the Directors.
17.02. Terms of repayment
The loans are refundable in installments and the last installment was due on 30.06.2010,
which was paid duly on 18.10.2010.
17.03. Bank interest
Bank interest on the above loan has been charged in profit and loss account as financial
charges.
17.04. Current portion of the above loan has been shown under the head current liabilities as
required by BAS.

18.00. DEFERRED LIABILITY: TK.10,702,745
The above amount represents liability on account of Gratuity as on 30.06.2010 after
payment of Tk. 1,50,740.00 from last year's closing balance. This has been calculated on
the basis of one month's basic pay (last drawn) for each completed year of service in
respect of permanent employees who have completed 10 years of service as on
31.08.2007. Gratuity has been discontinued as per management decision and therefore no
provision has been made during the current year.
19.00. CURRENT LIABILITIES & PROVISIONS : TK. 554,535,953
30.06.2009
This is made up as under :
30.06.2010
Short Term Borrowings
(Note-19.01)
361,562,287
315,149,296
Long Term Loans (Current Portion)
(Note-19.02)
14,744,000
14,013,968
Trade & other Payables
(Note-19.03)
85,789,174
110,445,457
Accrued Expenses
(Note-19.04)
17,708,986
15,672,496
Unclaimed dividend
(Note-19.05)
13,334,615
12,895,115
Provision for income tax
(Note-19.06)
11,631,772
10,647,407
Liabilities for other Finance
(Note-19.07)
49,765,119
66,389,431
------------------
Taka
------------------
554,535,953
545,213,170
===========
===========
19.01. Short Term Borrowings : Tk. 361,562,287

The balance includes working capital loan of Tk.251,057,841.00 and PAD loan of
Tk.21,016,204.00 taken from Sonali bank, Local office, Dhaka, which is secured by first
charge on stock in trade and collateral security on the fixed assets of the company. The
rate of interest applicable on the loan is governed by the interest policy of the Bank
and subject to change from time to time which is being applied on quarterly rest. The
balance amount of Tk. 89,488,242.00 was received from Uttara Finance and Investment
Limited as short term loan.
19.02. Long Term Loan (Current Portion): Tk.14,744,000
Current portion of long term loan has been shown under the head current liabilities which
is payable within June-2011.
19.03. Trade & Other Payables : Tk. 85,789,174
Trade & Other payable represents the Bills Payable against Materials & Other
including Tk.15,879,192.00 of Deferred L/C for Import of raw materials, which has
been paid subsequently and Tk.48,070,566.00 payable to sister concerns.
19.04. Accrued Expenses: Tk. 17,708,986
This is in-respect of:
30.06.2010
30.06.2009
Gas bill
4,151,029
3,680,096
Telephone & Telex
75,000
55,000
Salaries & Wages payable
12,997,957
11,425,000
Audit Fees
65,000
65,000
Others
420,000
447,400
-----------------
Taka
-----------------
17,708,986
15,672,496
==========
==========
The above amounts were provided as on 30.06.2010 and were paid subsequently.

19.05. Unclaimed Dividend : Tk. 13,334,615
The above amount represents dividend warrants issued to different shareholders but not
presented to the bank for encashment upto the date of balance sheet.
19.06. Provision For Income Tax : Tk. 11,631,772
The balance is arrived at as follows:
A) The balance represents the provision for tax in respect of :
Assessment year 2001 -2002
B) Deferred Income Tax - Assessment year 2008 -2009
Deferred Income Tax - Assessment year 2009 -2010
Taka
30.06.2010
30.06.2009
3,322,071
2,320,457
1,496,002
1,948,000
1,054,716
306,161
984,365
3,322,071
2,320,457
1,496,002
1,948,000
1,054,716
306,161
-
----------------
----------------
11,431,772
100,000
100,000
10,447,407
100,000
100,000
-----------------
----------------
11,631,772
10,647,407
==========
==========
19.06.1. Income tax assessment has been finalised upto assessment year 2008 -2009.
19.06.2. Income Tax case is pending in the High Court for final settlement of assessed Income Tax
for assessment year 2001-2002. Provision has been made for income tax on lump sum
basis.
19.07. Liabilities For Other Finance : Tk.49,765,119
This is arrived at as follows:
30.06.2010
30.06.2009
Security deposit
WPPF & WWF
Tax deducted at source against supply of goods/services
VAT deducted at source against supply of goods/services
Tax deducted from the salary of employees for June-2010
Amount payable to shareholders against sale-proceeds
of right issue of shares
Temporary loan Received from Monno Power Generation
& Distribution Ltd.
Lease Rental Payble & Int. on MPGDL & UFL
Others
15,903,299
750,475
4,362,748
154,527
693,599
15,828,008
509,374
1,727,357
74,725
202,187
3,000
3,000
14,266,515
11,231,914
2,399,042
27,923,515
15,239,081
4,882,184
----------------
-----------------
Taka
49,765,119
66,389,431
==========
==========

20.00. NET REVENUE : TK. 813,786,510
A. LOCAL SALES (Net local sales)
30.06.2010
394,401,723
B. EXPORT SALES (Net export sales)

C. Total Net Sales (A+B)
Taka
21.00. COST OF GOODS SOLD : TK.644,054,563

Opening stock of finished goods
Add: Cost of production
(note 21.01)
Total
Add: Purchase of finished goods (Monno Bone China)
Less: Closing stock of finished goods
Cost of goods sold
Taka
30.06.2009
315,657,823
419,384,787
463,923,638
-------------------
-------------------
813,786,510
779,581,461
===========
===========
30.06.2010
30.06.2009
41,734,303
610,292,178
39,832,490
600,792,837
-------------------
-------------------
652,026,481
31,388,177
640,625,327
18,737,036
-------------------
-------------------
683,414,658
39,360,094
659,362,363
41,734,303
------------------
-------------------
644,054,564
617,628,060
===========
===========
Cost of good sold includes purchase of 4,23,227 pcs. of finished ware from Monno Bone China
Ltd
21.01. Cost of Production : Tk.610,292,177
Opening work-in-process
Add: Raw & other auxiliary materials consumed
during the year
(Note : 21.01.1)
Add : Conversion cost
(Note : 21.01.2)
Total
Less: Closing work-in-process
Taka
Cost of production
Taka
30.06.2010
126,379,245
30.06.2009
119,039,814
352,882,157
267,015,800
333,226,117
274,906,151
-------------------
-------------------
746,277,202
135,985,024
727,172,082
126,379,245
-------------------
-------------------
610,292,178
600,792,837
===========
===========
21.01.1. Raw & Other Auxiliary Materials Consumed : Tk. 352,882,157

30.06.2010
Opening stock
70,703,247
Add : Purchase during the year
353,621,543
30.06.2009
62,773,110
341,156,254
-------------------
-------------------
424,324,790
71,442,633
403,929,364
70,703,247
-------------------
-------------------
Less : Closing stock

Raw & other auxiliary materials consumed during the year
Taka
352,882,157
333,226,117
===========
===========

21.01.2. Conversion Cost : Tk. 267,015,800
This consists of the followings :
Salaries & wages
Consumable stores & spares
Printing, stationary & other office supplies
Insurance
Gas consumption
Electricity charges
Oil & lubricants
Welfare expenses
Uniform & leveries
Rent, rates & taxes
Traveling & conveyance
Postage, telegram & telephone
Entertainment expenses
General expenses
Depreciation
Taka
22.00. ADMINISTRATIVE EXPENSES : TK. 39,384,183
Salaries & allowances
Repairs & maintenance
Insurance
Power & fuel
Welfare expenses
Rent, rates & taxes
(Note-22.01)
Postage, telegram & telex
Auditors remuneration
(Note-22.02)
Membership fees & legal charges
(Note-22.03)
Advertisement & publicity
Directors emolument
A G M expenses
Books & periodicals
Subscription & donation
Uniform & leveries
General expenses
Depreciation
30.06.2010
107,660,032
40,478,154
1,575,480
4,230,104
47,111,903
29,958,915
2,715,892
109,891
101,040
994,273
86,874
1,527,801
170,874
30,294,567
30.06.2009
106,809,054
48,052,938
2,573,558
5,805,643
41,856,291
29,265,306
2,526,899
181,279
345,419
5,720
1,806,780
6,179
1,782,180
229,957
33,658,948
-------------------
-------------------
267,015,800
274,906,151
===========
===========
30.06.2010
15,581,469
2,328,388
913,601
99,110
2,529,456
174,363
2,776,040
2,214,230
1,510,372
1,314,095
65,000
897,372
1,594,143
4,015,000
1,508,618
151,939
503,620
211,246
662,922
333,199
30.06.2009
7,949,097
1,967,498
884,019
1,607,708
122,148
1,557,543
1,937,614
1,440,142
942,316
65,000
1,184,995
1,578,087
4,030,000
1,093,411
151,605
26,610
93,645
547,493
362,112
-----------------
-----------------
Taka 39,384,183
27,541,042
==========
==========

22.01. Rent, Rates & Taxes : Tk.2,776,040
This consists of as follows:
Office/house rent
Local rates & taxes
Taka
22.02. Auditors Remuneration : Tk. 65,000
This comprises of :
Fees for audit of accounts of the company
Taka
22.03. Membership Fees & Legal Charges : Tk. 897,372
This is arrived at as follows:
Legal fees and charges
Registration, renewal & other fees
Membership fees
Other fees
Taka
30.06.2010
2,681,000
95,040
30.06.2009
1,140,319
417,224
---------------
---------------
2,776,040
1,557,543
=========
=========
30.06.2010
65,000
30.06.2009
65,000
-----------
----------
65,000
65,000
=======
======
30.06.2010
71,460
494,256
140,688
190,968
30.06.2009
31,100
746,194
145,310
262,391
------------
--------------
897,372
1,184,995
=======
=========
23.00. SELLING & DISTRIBUTION EXPENSES : TK.34,793,563

This consist of as follows:
30.06.2010
Salaries & allowances
11,011,021
Repairs & maintenance
359,056
1,450,106
Renovation of show-room & sales center
612,797
Power & fuel
599,781
Uniform & leveries
102,087
Rent, rates & taxes
3,254,788
717,665
Postage, telegram & telex
323,799
1,098,200
Fair & exhibition
9,478,553
Sample expenses for export
1,762,207
Advertisement & publicity
1,250,329
Delivery charges
2,073,101
General expenses
675,504
Insurance
2,989
Welfare expenses
10,374
Depreciation
11,206
30.06.2009
9,489,974
133,097
1,503,232
571,805
473,522
40,800
2,541,919
564,364
101,999
680,370
9,873,585
1,271,978
939,956
1,928,334
578,585
14,007
-----------------
-----------------
Taka 34,793,563
30,707,526
==========
==========

24.00. OTHER INCOME (NET) : TK. Nil
This consists of as follows:
30.06.2010
Dividend from Monno Fabrics Ltd.

Taka
30.06.2009
4,225,000
---------------
---------------
4,225,000
=========
=========
This is made up as follows:
30.06.2010
30.06.2009
Interest on term loan

Interest on cash credit & payment of lease premium (Note-25.01 )
Bank charges
27,825,615
59,998,732
2,666,727
25,201,111
78,912,953
2,380,156
------------------
-------------------
25.00. FINANCE COST : TK. 90,491,074
Taka 90,491,074
106,494,221
===========
===========
25.01. Interest on cash credit & Rent installment on lease are as follows : Tk.59,998,732
Interest on cash credit

Rent installment on lease of Machinery Equipments,
Pre -Fabricated Steel Building with Accessories & Vehicles
30.06.2010
30.06.2009
29,703,766
30,076,522
30,294,966
48,836,431
----------------
-----------------
Taka 59,998,732
78,912,953
==========
==========
26.00. CONTRIBUTION TO WORKERS PROFIT PARTICIPATION AND WELFARE FUNDS: Tk.241,101

This represents 5% of operating profit after charging such contribution and which is
provided as per provisions of the Companies Profit (Workers Participation) Act, 1968
and is payable to workers as defined in the said Act.
27.00. BASIC EARNINGS PER SHARE :TK.2.84
The computation of EPS is given below:
30.06.2010
30.06.2009
(a) Earnings attributable to the Ordinary

Shareholders (net profit after tax)
3,837,660
1,029,451
(b) No. of Ordinary Shares as on 30.06.2010

(c) Basic EPS
Taka
1,350,000
1,350,000
---------------
---------------
2.84
0.76
=========
=========
28.00. PAYMENTS/PERQUISITES TO DIRECTORS AND OFFICERS

The aggregate amount paid/provided during the year in respect of Directors and
Officers of the company as defined in the Securities and Exchange Rules 1987 are
disclosed below :

Directors/Officers Remuneration Etc.
Particulars
Directors
2009-2010
Directors Remuneration
Managerial Remuneration
Bonus
Perquisites:
Housing
Medical allowance
Conveyance allowance
Entertainment allowance
Directors/Officers Remuneration Etc. (2009-2010) Taka
Directors/Officers Remuneration Etc. (2008-2009) Taka
Officers
2,440,000
450,000
2,502,523
417,087
840,000
285,000
4,015,000
4,030,000
1,251,262
250,252
250,252
40,300
4,711,676
3,581,359
During the year under review :

(a) no compensation was allowed by the company to the Managing Director of the
company.
(b) no board meeting attendance fee was paid to the directors of the company.
(c) no amount of money was spent by the company for compensating any member of the
Board for special services rendered, other than those mentioned.
29.00. RELATED PARTY
The nature of transactions and their total value have been set out in accordance with the
provisions of BAS 24 Related Party Disclosures as follows :
Nature of Transactions
Monno Jutex Industries Ltd.
Monno Jute Stafllers Ltd.
Monno Printing & Packaging Ltd.(Unit 1 & 2)
Monno Bone China Ltd.
Goods sold
(in Tk.)
-
Goods purchased
(in Tk.)
80,188,810
473,384
37,958,288
31,388,177
The above transactions took place at arms length basis and bills were raised and settled in
due time.
30.00. FOREIGN INVESTORS
30.01. As on the date of balance sheet there were 3 non-resident shareholders whose total
shareholdings were 190 shares.
30.02. No dividend is paid in foreign currencies. However dividend to the foreign investors are
paid in local currency through their local custodian bankers.

31.00. PRODUCTION CAPACITY AND ACTUAL PRODUCTION
The position noted below represents production capacity of Porcelain tableware on 2/3 shift basis
Description
Production capacity (in million pieces)
Actual Production (in million pieces)
2009-2010
%
22.000
16.546
75.21
2008-2009
%
22.000
14.811
67.32
During the year under review the Company operated keeping in view the market demand
for its products.
32.00. CONTINGENT ASSETS/LIABILITIES
There was no contingent liability as on 30th June, 2010 and there was no claim against
the company not acknowledged as debt as on 30.06.2010
33.00. CREDIT FACILITY NOT AVAILED
There was no credit facilities available to the Company under any contract but not
availed of as on 30.06.2010 other than trade credit available in ordinary course of
business.
34.00. CAPITAL EXPENDITURE COMMITMENT
There was no capital expenditure commitment of the company as of 30th June, 2010
35.00. FOREIGN EXCHANGE EARNED
Export of goods calculated on FOB basis is US$ 6.19 million.
Other income is nil.
36.00. PAYMENTS IN FOREIGN CURRENCY
For Raw & Other auxiliary materials US$ 21,93,500.00
For Stores & Spares US$ 3,07,935.00
37.00. VALUE ADDITION: TK. 214,731,854
During the year the company made the value-addition of Tk.214,731,854.00 which has
been shown below:
Particulars
Turnover & Other Income
Bought-in-Materials & Services
2010
813,786,510
(599,054,656)
-------------------
Value Added
Applications:
Duties & Taxes to Government Exchequer
Salaries and Benefits to Employees
Interest to Lenders
Retained by the Company
Total :
Taka
214,731,854
%
----------
===========
======
15,097,291
138,267,522
57,529,381
3,837,660
--------------214,731,854
=========
7
64
27
2
----100
===

38.00. MANPOWER
As on 30th June, 2010 the total number of employees working in factory as well as Head
Office of the company was 2,496.
39.00. WPPF & WWF POLICY
The company has a contributory Recognised Workers Profit Participation & Workers
Welfare Fund. These funds are controlled and managed by separate Trustee Board.
40.00. GENERAL EXPENSES
General expenses account does not include any individual head of expenditure as exceeds
1% of the total revenue expenditure or Tk.5,000 whichever is higher.
41.00. EVENT AFTER THE BALANCE SHEET DATE
Subsequent to the Balance Sheet date, the Board of Directors recommended in it's
meeting held on 28-10-2010 for payment of stock dividend @20% on Paid up Capital
out of the surplus available for distribution at the end of the year 2010, which is
subject to the approval of the shareholders in the ensuing Annual General Meeting of
the Company.
42.00. INTERNAL CONTROL
Following steps have been taken for implementation of an effective internal control
procedures of the company :
(a) A strong internal control and compliance division has been formed with a view to
establish a well designed system of internal control.
(b) Regular review of internal audit report with a view to implement the suggestion of
internal auditors in respect of internal control techniques.
(c) To establish an effective management systems that includes planning, organizing and
supervising culture in the factory as well as at Head office
43.00. Approval of the Financial Statements
Approved by the board on October 28, 2010 and signed on its behalf by:

COMPANY SECRETARY
Dhaka,
Dated: October 28, 2010
SD/(AFROZA KHAN)
MANAGING DIRECTOR
SD/(H. R. KHAN)
CHAIRMAN

SD/(A. WAHAB & CO.)

9 Wyre Street, Wari, Dhaka-1203
PROXY FORM
I/We,......................................................................
of ...................................................
being shareholder(s) of MONNO CERAMIC INDUSTRIES LIMITED, hereby appoint
Mr./Mrs./Miss.................................................................
of.....................................
as my/our proxy in my/our absence to attend and vote for me/us and on my/our behalf at the twenty-ninth
Annual General Meeting of the Company to be held on Wednesday the 29th December 2010 at 9.00 a.m.
at Bashundhara Convention Center, Block-G, Umme Kulsum Road, Bashundhara R/A., Baridhara,
Dhaka, and at any adjournment thereof.
Shareholder's Folio/BO No. :
Number of shares held
Affix
Tk.8.00
revenue
stamps
Signature of proxy
Signature of shareholder(s)
Date :
Signature of witness
FOR OFFICIAL USE
Received in the office on .....................
Note:
Signature verified
Authorised Signatory
The proxy form duly filled in/signed and affixed with revenue stamps of Tk.8.00 must be deposited at the
registered office of the Company not less than 48 hours before the time fixed for the meeting.
...
MONNO CERAMIC INDUSTRIES LTD.

Shareholders Attendance Slip
I/We, ...
(Folio/BO No. ..) holding .... ordinary shares of Monno
Ceramic Industries Limited, am/are recording my/our attendance at the twenty-ninth Annual General
Meeting of the Company for the year 2010 on Wednesday the 29th December 2010 at 9.00 a.m. at
Bashundhara Convention Center, Block-G, Umme Kulsum Road, Bashundhara R/A., Baridhara, Dhaka.
______________________
Notes: (1) Please present this slip at the Reception Desk.
Signature of shareholder(s)
2) Shareholders/proxies only are entitled to attend at the Annual General Meeting.

Monnocera 2009-2010 Annual

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Monnocera 2009-2010 Annual

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Monno Ceramic Industries Ltd.

Monno Ceramic Industries Ltd.

Dated: Dhaka, the 28th October 2010.

Md. Ekramul Hoque

Monno Ceramic Industries Ltd.

Monno Ceramic Industries Ltd.

As responsible citizen, for a social order devoid of malpractices, anti-environmental

Monno Ceramic Industries Ltd.

2009-2010 2008-2009 2007-2008 2006-2007 2005-2006

Revenue reserves & surplus

Fixed assets (gross)

Fixed assets (net)

Net profit/(loss) before income tax

Net profit/(loss) after income tax provision

Surplus available for appropriation

Amount of dividend/stock dividend

1,350,000 1,350,000 1,350,000 1,350,000 1,350,000

Shareholders equity per share

Return on paid-up capital

Earning per share

Net asset value per share

Rate of dividend/Stock dividend

Pay out ratio

Monno Ceramic Industries Ltd.

Country Wise Export for the year 2009-2010

I am happy to report that 2009-2010 is a year

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It gives me immense pleasure to welcome

Please note that interest on Bank term loan

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You all are aware that ceramic technology has

Maintaining sound liquidityto finance the

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In view of the availability of substantial

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With a view to meeting the new challenges in

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Finally, we are very grateful to our valued

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Thanking you everybody.

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Dated : Dhaka, 28th October, 2010.

Monno Ceramic Industries Ltd.

For the year ended

For the year ended

Net Profit before tax

APPROPRIATION OF AVAILABLE PROFIT/SURPLUS

Monno Ceramic Industries Ltd.

Monno Ceramic Industries Ltd.

No. of shares % of shareholding

Monno Ceramic Industries Ltd.

Mrs. Afroza Khan

Monno Welfare Foundation

ICB Unit Fund

The Directors also report that

Proper books of accounts as required by law have been maintained.

The Financial Statements was prepared in accordance with International Accounting

There is no significant deviation from the operating result of last year.

Securities and Exchange Commissions Corporate Governance Compliance Report is

Monno Ceramic Industries Ltd.

2009-2010 2008-2009 2007-2008 2006-2007 2005-2006

Earning per share

VALUE ADDED STATEMENT