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POWERGRID

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POWERGRID 05-Nov-2014

There will be no price limit on the trading of the shares of the Company today (05.11.2014) following its corporate declaration.

POWERGRID 05-Nov-2014

The Board of Directors has recommended 10% cash dividend for the year ended on June 30, 2014. Date of AGM: 17.01.2015, Time: 10:00 AM, Venue: "Mukti Hall", Biddut Bhaban, 1 Abdul Gani Road, Dhaka-1000. Record Date: 25.11.2014. The Company has also reported EPS of Tk. (0.06), NAV per share of Tk. 63.61 and NOCFPS of Tk. 12.78 for the year ended on June 30, 2014.

POWERGRID 30-Oct-2014

As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on November 03, 2014 at 6:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2014.

POWERGRID 30-Apr-2014

(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported net profit after tax of Tk. 6.41 million with EPS of Tk. 0.01 as against Tk. 97.35 million and Tk. 0.21 respectively for the same period of the previous year. Whereas net profit after tax was Tk. 735.92 million with EPS of Tk. 1.60 for the period of nine months (July'13 to March'14) ended on 31.03.2014 as against Tk. 837.68 million and Tk. 1.82 respectively for the same period of the previous year.

POWERGRID 30-Jan-2014

(H/Y): As per un-audited half yearly accounts as on 31.12.2013 (July'13 to Dec'13), the Company has reported net profit after tax of Tk. 729.51 million with EPS of Tk. 1.58 as against Tk. 740.32 million and Tk. 1.61 respectively for the same period of the previous year. Whereas net profit after tax was Tk. 241.40 million with EPS of Tk. 0.52 for the period of 3 months (Oct'13 to Dec'13) ended on 31.12.2013 as against Tk. 265.06 million and Tk. 0.58 respectively for the same period of the previous year.

POWERGRID 06-Jan-2014

The Company has further informed that the 17th AGM of the Company will now be held on January 25, 2014 at 10:00 AM at Auditorium of Engineers Institution, Bangladesh, 8/A, Ramna, Dhaka-1000 instead of January 18, 2014. Other information of the AGM will remain unchanged.

POWERGRID 15-Dec-2013

(Continuation of news of POWERGRID): 5. As disclosed in Note# 19 to the financial statements, liabilities for other finance include an amount of Tk. 3,765,000 owed to BPDB, and as disclosed in Note # 19.4, liabilities for other finance include account current with corporations and other offices amounting to Tk. 104,032,421 comprising Tk. 106,454,988 and Tk. (2,422,567) on account of BPDB and Project-1 respectively as on 30 June 2013. As disclosed in Note # 12.3, Note # 12.4(A) and Note # 16 PGCBL owes to BPDB Tk. 8,003,670, Tk. 9,855,673,033 and Tk. 881,647,500 respectively. The balances could not be confirmed from BPDB. (cont. 8)

POWERGRID 15-Dec-2013

(Continuation of news of POWERGRID): 4. As disclosed in Note # 7 to the financial statements, the Company has reported an amount of Tk. 1,278,732,152 as receivable from transmission/wheeling and optical fiber charge. It includes receivables from DPDC, DESCO and WZPDCL Tk. 296,231,062, 173,596,648 and Tk. 88,402,498 respectively. Receivable from DPDC includes Tk. 136,848,400 being carried forward from June 2008 due to fewer amounts received against wheeling charge bills over the years. Receivable from DESA Tk. 15,700,698 due to fewer amounts received against wheeling charge bills from DPDC subsequent to June 2008. Receivable from DESCO includes Tk. 3,106,230 being carried forward from 2007. (cont. 6)

POWERGRID 15-Dec-2013

(Continuation of news of POWERGRID): Para-28 of Bangladesh Accounting Standard (BAS-21) requires that the said exchange rate fluctuation gain shall be recognized in Profit and Loss account. The company has been following the policy of capitalizing or deducting such exchange rate fluctuation loss /gain from Property, plant and equipment from the year 2010-2011 which is a non-compliance of the above provision of BAS-21. (cont. 5)

POWERGRID 15-Dec-2013

(Continuation of news of POWERGRID): includes five completed projects amounting Tk. 847,632,179. The projects have been completed and are already in operation and generating revenue but have not been transferred to Property, Plant and Equipment; as a result the company has understated depreciation expenses by Tk. 14,833,563 in relation to the projects. For which EPS for the year 2012-13 has been overstated. 2) As disclosed in Note # 6 to the financial statements, the Company has reported an amount of Tk. 1,658,585,163 as inventories. Movement of inventories is not properly recorded in the accounts maintained at the cost centers we visited. (cont. 3)

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