Annual Report 2074-75 BNTL - Nepal Stock Exchange Ltd.

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Bottlers Nepal(Terai) LimitedAnnual Report 2074-75Bottlers Nepal (Terai) LimitedANNUALREPORT 2017-2018aQL;f} jflif{s k ltj]bg @)& –@)&%11

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75CORPORATE INFORMATIONCompany Name:Bottlers Nepal (Terai) LimitedRegistration Number:98818Legal Form:Listed Public CompanyStock Exchange Listing: Nepal Stock Exchange as (BNT)Registered Address:Balaju Industrial District, Balaju, Kathmandu, NepalIndustry Address:Gondrang, Bharatpur-9, Chitwan, NepalBoard of Directors:Ms. Shukla WassanMr. Gaurav KhoslaMr. Sundeep BajoriaMr. Gunjan DhawanMr. Surendra SilwalMr. Prasad GyawaliMr. Pramod Kumar KarkiChief Executive Officer: Mr. Pradip PandeyCompany Secretary:Ms. Pratima BurmaStatutory Auditor:M/s B.K. Agrawal & Co.Chartered Accountants(Mr. Bijay Kumar Agrawal, Managing Partner)Share Registrar:M/s Nabil Investment Banking LimitedBanking Partners:M/s Standard Chartered Bank Nepal LimitedM/s NMB Bank LimitedM/s Nepal Bank LimitedM/s NIC Asia Bank LimitedM/s Everest Bank LimitedM/s Nepal Bangaladesh Bank Limited22

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Bottlers Nepal (Terai) LimitedAnnual Report 2074-75TABLE OF CONTENTSVision, Mission & Values6Statement of Value Added30About Bottlers Nepal (Terai) Limited6Other Information30Performance and Operational Highlights7Additional Disclosures31We Represent8Financial Analysis32Chairperson's Review11Financial Statement of Bottlers Nepal (Terai)33-67Limited 2074-75 (2017-18)Profile of Board of Directors12-13Directors Report14-17Management Structure18-19Corporate Governance20-22Being Consumer Centric - Marketing Campaigns23-24Human Capital25-26Infrastructural Development27Environment & Sustainability27Corporate Social Responsibility28-2955

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75VISION, MISSION AND VALUESVisionStatementMissionStatementTo make every Nepali’s first choice ofTo build a community driven, customerfocused, profitable, sustainable and sociallyresponsible business in Nepal.refreshment available within easy reach.VALUESPassion for WinningCommitted in heart and mindLeadershipThe courage to shape a better futureEmpowermentDecisions are made at the lowest appropriatelevelIntegrityBe realCitizenshipCommitment to local stakeholders by consistentengagement & environmental practicesAccountabilityIf it is to be, it’s up to meTeamworkWorking together to support and inspire eachother to winABOUT BOTTLERS NEPAL(TERAI) LIMITEDBottlers Nepal (Terai) Limited (hereinafter also referred to as the “Company” or “BNTL”) is a Public Limited Company, withoperations spanning over 32 years. The shares of the Company are listed with the Nepal Stock Exchange Limited (NEPSE) andthe majority of its shares are held by M/s Bottlers Nepal Limited (BNL).The Company is engaged in the production, manufacture and sale of soft drinks being carbonated non-alcoholic beveragesunder the brand names - Coca-Cola , Sprite , Fanta and Kinley . The Company along with its holding company, Bottlers NepalLimited, are the only authorized bottlers of “The Coca-Cola Company” (“TCCC”) in Nepal.High standards of Corporate Governance, strong technical credentials, prudent risk management approach, a culture ofdedication and a strong distribution network has been the key driving forces of the Company. The Company is considered asone of the most prestigious multinational companies in Nepal.It believes the success of the Group depends on our ability to connect with consumers by providing them with a wide variety ofbeverage options to meet their desires, needs and lifestyles. Our success further depends on the ability of our people to executeeffectively, every day.Our objective is to use our Company’s assets — our brands, financial strength, unrivaled distribution system, global reach, andthe talent and strong commitment of our management and associates — to become more competitive and to accelerate growthin a manner that creates value for our shareowners.66

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75PERFORMANCE AND OPERATIONALHIGHLIGHTS-BNTLNET REVENUEPROFIT BEFORE TAXPROFIT AFTER TAXEPS2074-752074-752074-752074-75Rs. 5,658Rs. 911Rs. 741Rs. 613MILLIONMILLIONMILLIONPER SHARENet Revenuegrew by 24%PBT increased by 55% with PBTmargins up by 2% from 14% to16%PAT increased by 54% with PATmargins up by 2% from 11% to13%EPS up by 54%2073-74Rs. 4,574 Million2073-74Rs. 589 Million2073-74Rs. 483 Million2073-74Rs. 399 per share77

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75A LEADING BOTTLERYour Company is the authorized bottler of “The Coca-Cola Company” (“TCCC”) in Nepal and sellsmore than 16 MM unit cases annually.WE REPRESENTIt is operating through its bottling plant in Chitwan.Your Company manages our business responsibly, sustainably and with a passion for creating value forour customers, our shareholders and the consumers and communities we serve.LEADING BRANDS AND A DIVERSE PORTFOLIO OF BEVERAGESYour Company produces, sells and distributes the world’s most recognised beverage brands. CocaCola, Coke Zero, Sprite, Fanta, Minute Maid, Maaza and Kinley Soda are some of the world’s bestselling non-alcoholic ready-to-drink beverages. Your Company's overall sparkling volume share in ourmarket was 69% in July 2018. (Source: RSA Nielsen, YTD July, 2018)The strength of its portfolio of sparkling drinks is complemented by a still drinks portfolio which hasgrown to 18% of the total volume.Category2074-75 (2017-18)Sparkling2073-74 0.00%CAPABILITY TO EXECUTE IN THE MARKETBuilding and maintaining a successful partnership with the customers, is critical to the success. Byworking with customers to satisfy their needs and maximise demand for the products, your Companyhelps grow their business and its own. Your Company does this by segmenting the market anddetermining the most efficient and effective way to serve each of the outlets. Your Company is lookingto generate joint value in every aspect of its business with each of its customers, ranging from logisticsand delivery, to market place execution and sustainability programmes.A SUSTAINABLE BUSINESSYour Company recognises that creating shared value for shareholders, employees, consumers,customers and communities is critical to its long-term success. Over the last decade, Your Companyhas integrated corporate responsibility and sustainability into all aspects of business management,with long-term investments that aims to build value over time. Your Company established a businessresilience programme that enhances our approach to risk management and our contingency responseprogrammes.LEAN MANUFACTURING FOOTPRINTYour Company has been able to cater to the increased market demand through its existingmanufacturing plant, by way of efficient manufacturing operations. Your Company believe there isample of scope to achieve further efficiencies, particularly in Nepales markets.88

Bottlers Nepal (Terai) LimitedAnnual Report 2074-7599

Bottlers Nepal (Terai)LimitedLimitedAnnual Report 2074-75DearSHAREHOLDERS“The foundation ofour success has beenbuilt mainly in ourability to execute aconsistent strategyand focus ourbusiness in the areasof our strengths.”- SHUKLA WASSANChairperson1001

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75CHAIRPERSON’S REVIEWAt the outset, I would like to extend my warm welcome to all of you on behalf of the Board of Directorsof the Company. It is with great pleasure, I report that your Company has yet again maintained its trackrecord of consistent performance and has registered impressive results. The foundation of our successhas been built mainly in our ability to execute a consistent strategy and focus our business in the areasof our strengths. It gives me great pleasure to announce that your Company along with its subsidiaries,have succeeded in recording growth of 20.4% in Volume and 53.6% in Net Profit as compared to lastyear.This year, your Company has started commercial local production of flagship “Kinley ” brand packageddrinking water in 500 ml and 1 Ltr. PET, at your Company’s Bharatpur plant. We are positive that in duecourse of time, this will do well in the market, leading to an expansion in the existing beverage portfolioand increase in our consumer base.Your Company is continuously investing in modernization of its infrastructural development andautomation in its business operation, results of which will be clearly visible in the times to come. Further,your Company is focusing on strengthening its talent management culture and investing significantly ontraining and development of its employees. We are also consistently working on addressing the needsof the communities we operate in.This year, Nepal has also made a good progress on the political front. After its successful completionof the three tier local, provincial and federal elections for implementation of the new Constitution, weremain very hopeful for a stable government, which is expected to bring economic growth and fosterour business opportunities in the country. It has provided hope to the Board for a conducive businessenvironment that will allow for long-term growth in the country.I am sure the years to come will be even more exciting and full of opportunities for your Company. Asthe Chairman of the Board, I would like to extend my gratitude to the countless number of esteemedcustomers, all of whom have contributed in successful partnerships to accomplish our achievements.I would like to take this opportunity to express my sincere appreciation to our stakeholders, businesspartners, labor unions, statutory and government bodies, bankers and financial institutions, diplomaticofficials, media, local community, TCCC representatives, shareholders and the entire team of theCompany for their continued support.With regards,Shukla Wassan1111

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75PROFILE OF BOARDOF DIRECTORS1221Mr. Gaurav Khosla(Director)Mr. Prasad Gyawali(Director)Mr. Gunjan Dhawan(Director)Mr. Khosla is a CharteredAccountant from the Instituteof Chartered Accountants ofIndia with a total experience ofover 24years. He has been theDirector of the Company since25th April, 2016 and is also aChairman of Audit Committeeof the Company since 2nd May,2016.Mr. Gyawali holds MBA andMsc Degree and has morethan 13 years of experiencehandling various units in thebeverage (beer) and noodles/snacks operations in India andNepal. He is the Director of theCompany since 12th January,2015.Mr. Gunjan Dhawan holds MFCwith a total experience of over20 years. He was appointed asthe Director of the Companyfrom 23rd November, 2016.

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75Mr. Pramod Kumar Karki(Independent Director)Ms. Shukla WassanChairpersonMr. Sundeep Bajoria(Director)Mr. Surendra Silwal(Director)Mr. Karki holds multipleacademic degrees includingM.A and LLM. He has 35years of working experiencein various governmental jobs.He is Director of the Companysince 13th December, 2012Ms. Wassan is FCS (FellowCompany Secretary) fromthe Institute of CompanySecretaries of India, LL.B.,B. Com (Hons) with a totalexperience of over 35 years.She has been a Director andChairperson of the Companysince 2nd December, 2014.Mr. Sundeep Bajoria holdsB.Com Honors & CharteredAccountant with experienceover 20 years. He was appointedas a Director of the Companysince 3rd May,2018.Mr. Silwal holds a Master Degreein Business Administration witha total experience of over 22years in various Companies. Hewas appointed as a Director ofthe Company from 27th June,2017. Earlier, he was a AlternateDirector to Mr. Soren Lauridsensince 14th September, 2012.1313

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75DIRECTOR’S REPORTDear Shareholders,WƌŽĨŝƚ ĞĨŽƌĞ dĂdž ;EWZ DDͿ We are delighted to present the Report on your Company’sbusiness operations, along with the audited financialstatements, for the year ended 32nd Ashad 2075. This has beenanother remarkable year with success in terms of businessgrowth and value creation for its treasured stakeholders.Your Company has made conscious efforts for preparing thefinancial statements based on the sound business knowledgeand generally accepted accounting principles. It has alsoensured true that the financial statements of your Companyis true and fair.OVERVIEWYour Company has made significant progress in the FY2074/75. The Gross Sales Revenue of your Company hascrossed NPR 7,865 Million. Further, the net Profit has increasedby NPR 322 Million, which is 55% higher than the previousyears.The summarized financial results of your Company for theyear under review are as under:2073-746,3701,462589483NPR Million2074-75 % Change7,86523%2,04240%91155%74153%'ƌŽƐƐ ĂůĞƐ ZĞǀĞŶƵĞ ;EWZ DDͿ ϳ͕ϴϲϱ ϲ͕ϯϳϬ ϯ͕ϯϬϱ ϰ͕ϭϯϰ ϱϴϵ Ϯϳϲ ϰ͕ϳϱϵ ϯϰϰ ϵϭ ϮϬϳϬͲϳϭFINANCIAL HIGHLIGHTSParticularsGross Sales RevenueGross ProfitNet Profit Before TaxNet Profit After Tax ϵϭϭ ͲϳϱKEY BUSINESS CHALLENGESGlobal:The global economic scenario continued to remain volatileacross different geographies. The Group is presently operatingin an increasingly dynamic economic environment. Crude OilPrice internationally is on increasing trend, which has impactedcost of Resin, Preforms, energy and transportation.NepalThe Government has recently implemented Finance Bill, 2075.This has consequently increased government taxes & dutiestwice its current rate, mainly in Import Duty for sugar and hassignificantly increased excise duty of carbonated soft drinks.Furthermore, the country witnessed high depreciation of thecurrency against the US dollar, which has impacted sourcingof raw materials and packaging materials.DividendThis Year, your Directors recommended a final dividend ofNPR 40/- Per share for your approval.Statutory Auditors.M/s B. K Agrawal & Co. Chartered Accountants (FirmRegistration No. 02), hold office until the conclusion of32nd Annual General Meeting. Your Directors, with therecommendation of Audit Committee Meeting have proposedto re-appoint M/s B.K Agrawal & Co. Chartered Accountants,as Statutory Auditor for FY 2075-76 with a remuneration ofNPR 300,000 (Three Hundred Thousands Only) (excludingVAT and out-of-pocket expenses), alike last year.Human �ϳϯϮϬϳϯͲϳϰϮϬϳϰͲϳϱThe total number of Associates on 32nd Ashad 2075 is 307,as against 282 on 31st Ashad 2074. Your Company believesthat today a major HR challenge for your Company istraining & development, talent development and EmployeeEngagement. Your Company continued to work towards thesethree components through its various initiatives. Some of itsinitiatives are briefly elaborated in this Annual Report.

Bottlers Nepal (Terai) LimitedAnnual Report 2074-75InfrastructureFuture OutlookDuring the year under review, your Company continued tocreate best-in-class infrastructure facilities to support itsgrowth strategies. Your Company co

M/s NMB Bank Limited M/s Nepal Bank Limited M/s NIC Asia Bank Limited M/s Everest Bank Limited M/s Nepal Bangaladesh Bank Limited . 3 Bottlers Nepal (Terai) Limited . Financial Analysis 32 Financial Statement of Bottlers Nepal (Terai) Limited 2074-75 (2017-18) 33-67. 6 6 Bottlers Nepal (Terai) Limited Annual Report 2074-75 VISION, MISSION AND .

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