Consolidated Financial Statements for BMMI B.S.C. for the period ended 31 March 2026 (Reviewed) Interim Consolidated Statement of Cash Flows OPERATING ACTIVITIES
Three-month period ended
31 March 2026
Share capital | Treasury shares | Other reserves | Retained earnings | Total | Non-controlling interests | Total equity | |
BD | BD | BD | BD | BD | BD | BD | |
Balance at 1 January 2026 | 14,642,854 | (1,430,101) | 9,000,874 | 49,419,935 | 71,633,562 | 81,935 | 71,715,497 |
Profit for the period | - | - | - | 20,425 | 20,425 | 5,278 | 25,703 |
Other comprehensive loss for the period | - | - | (240,933) | - | (240,933) | - | (240,933) |
Total comprehensive (loss) income for the period | - | - | (240,933) | 20,425 | (220,508) | 5,278 | (215,230) |
Final dividend for 2025 | - | - | - | (7,118,037) | (7,118,037) | - | (7,118,037) |
Balance at 31 March 2026 | 14,642,854 | (1,430,101) | 8,759,941 | 42,322,323 | 64,295,017 | 87,213 | 64,382,230 |
Balance at 1 January 2025 | 14,642,854 | (1,430,101) | 8,670,808 | 46,898,109 | 68,781,670 | 83,985 | 68,865,655 |
Profit for the period | - | - | - | 1,051,151 | 1,051,151 | 15,267 | 1,066,418 |
Other comprehensive income for the period | - | - | 60,137 | - | 60,137 | - | 60,137 |
Total comprehensive income for the period | - | - | 60,137 | 1,051,151 | 1,111,288 | 15,267 | 1,126,555 |
Final dividend for 2024 | - | - | - | (4,982,626) | (4,982,626) | (15,261) | (4,997,887) |
Balance at 31 March 2025 | 14,642,854 | (1,430,101) | 8,730,945 | 42,966,634 | 64,910,332 | 83,991 | 64,994,323 |
Profit of the group for the period 25,703 1,066,418 Adjustments for:
Dividend and interest income | (295,073) | (284,130) |
Depreciation of property, plant and equipment | 685,214 | 709,663 |
Depreciation of right-of-use assets | 276,306 | 376,646 |
Share of results of a joint venture | - | 16,021 |
Net gain on investments carried at fair value through profit or loss | 8,787 | 4,209 |
Provision for slow moving and obsolete inventories | 112,173 | 204,244 |
Allowance for expected credit losses | 336,663 | 134,748 |
Provision for employees' end of service benefits | 166,246 | 107,466 |
Finance costs | 369,374 | 386,014 |
Operating profit before working capital changes
Working capital changes:
1,685,393 2,721,299Retained earnings include non-distributable reserves amounting to BD 340,000 relating to the subsidiaries as at 31 March 2025 and 2026.
Inventories | 1,765,075 | 2,052,585 | ||
Trade and other receivables | 729,856 | (71,932) | Interim Consolidated Statement of Income | Interim Consolidated Statement of Financial position |
Trade and other payables (1,826,398) (429,737) Three-month period ended Net cash generated from operations 2,353,926 4,272,215 31 March 31 March 31 December | ||||
2026 | 2025 | 2026 | 2025 | |||
BD | BD | BD | BD | |||
Revenue | 22,035,489 | 23,141,503 | ASSETS | |||
Costs of revenue | (16,098,417) | (15,914,879) | Non-current assets | |||
GROSS PROFIT | 5,937,072 | 7,226,624 | Property, plant and equipment | 39,882,422 | 40,187,970 | |
Other operating income | 299,310 | 325,515 | Right-of-use assets | 3,770,016 | 3,929,976 | |
Selling and distribution expenses | (2,521,029) | (2,429,877) | Investment properties | 10,030,652 | 10,030,652 | |
General and administrative expenses | (3,606,562) | (3,933,730) | Other investments | 3,402,665 | 3,659,727 | |
PROFIT FROM OPERATIONS | 108,791 | 1,188,532 | 57,085,755 | 57,808,325 | ||
Dividend and interest income | 295,073 | 284,130 | Current assets | |||
Share of results of a joint venture | - | (16,021) | Inventories | 14,494,904 | 16,372,152 | |
Net (loss) on other investments carried at fair value | (8,787) | (4,209) | Trade and other receivables | 21,691,772 | 22,565,013 | |
through profit or loss | Bank balances, cash and short-term | 4,285,824 | 6,107,424 | |||
Finance costs | (369,374) | (386,014) | deposits | |||
PROFIT OF THE GROUP FOR THE PERIOD | 25,703 | 1,066,418 | 40,472,500 | 45,044,589 | ||
of which profit attributable to non-controlling interests | (5,278) | (15,267) | TOTAL ASSETS | 97,558,255 | 102,852,914 | |
PROFIT FOR THE PERIOD ATTRIBUTABLE TO THE | 20,425 | 1,051,151 |
Directors' remuneration paid | (168,500) | - |
Employees' end of service benefits paid | (83,880) | (89,054) |
Net movement in advances against employees' end of service benefits | - | (5,800) |
Net cash flows from operating activities | 2,101,546 | 4,177,361 |
INVESTING ACTIVITIES | ||
Purchase of property, plant and equipment | (379,666) | (333,735) |
Dividend and interest received | 101,795 | 272,122 |
Net cash flows used in investing activities | (277,871) | (61,613) |
FINANCING ACTIVITIES | ||
Dividend paid to shareholders of BMMI B.S.C. | (7,118,037) | (4,982,626) |
Dividend paid to non-controlling interests | - | (15,261) |
Borrowings availed | 6,383,717 | 5,186,127 |
Borrowings repaid | (2,341,595) | (5,115,263) |
Interest paid | (301,808) | (327,456) |
Payment of lease liabilities | (339,885) | (439,574) |
Net cash flows used in financing activities | (3,717,608) | (5,694,053) |
NET DECREASE IN CASH AND CASH EǫUIVALENTS | (1,893,933) | (1,578,305) |
Cash and cash equivalents at 1 January | 5,293,789 | 3,972,904 |
CASH AND CASH EǫUIVALENTS AS AT 31 MARCH (A) | 3,399,856 | 2,394,599 |
(A) Cash and cash equivalents comprise of the following amounts included in the interim consolidated statement of financial position: | ||
Bank balances, cash and short-term deposits | 4,285,824 | 4,858,570 |
Bank overdrafts | (885,968) | (2,463,971) |
Cash and cash equivalents as at 31 March | 3,399,856 | 2,394,599 |
EǫUITY AND LIABILITIES | ||
Equity | ||
Share capital | 14,642,854 | 14,642,854 |
Treasury shares | (1,430,101) | (1,430,101) |
Other reserves | 8,759,941 | 9,000,874 |
Retained earnings | 42,322,323 | 49,419,935 |
Equity attributable to shareholders of BMMI B.S.C. | 64,295,017 | 71,633,562 |
Non-controlling interests | 87,213 | 81,935 |
Dividend and interest receivable amounting to
Items not to be reclassified to the consolidated statement of income in subsequent periods:
- Net changes in fair value of investments
classified as fair value through other comprehensive income
Items to be reclassified to the consolidated statement of income in subsequent periods:
Three-month period ended
31 March
2026 2025 BD BD 25,703 1,066,418 (248,275) 61,185 Total equity 64,382,230 71,715,497 Non-current liabilitiesBorrowings 2,603,250 3,123,900
Lease liabilities 3,383,983 3,241,436 Employees' end of service benefits 1,786,154 1,703,788
7,773,387 8,069,124BD 193,278 (31 March 2025: BD 12,008) have been
- Change in fair value of other financial liabilities 7,342 (1,048)
excluded from the movement of trade | and other OTHER COMPREHENSIVE (LOSS) INCOME FOR | (240,933) | 60,137 | Current liabilities | ||
receivables. | THE PERIOD | Trade and other payables | 15,007,911 | 17,002,809 | ||
Renato Juric
CEO
TOTAL COMPREHENSIVE (LOSS) INCOME OF THE (215,230) GROUP FOR THE PERIOD | 1,126,555 | Other financial liabilities | 16,154 | 23,496 | |
of which comprehensive income attributable to non- (5,278) | (15,267) | Borrowings | 8,483,177 | 3,920,405 | |
controlling interests | Bank overdrafts | 885,968 | 813,635 | ||
TOTAL COMPREHENSIVE (LOSS) INCOME OF THE (220,508) | 1,111,288 |
Reviewed by Ernst & Young and approved by the Board of Directors on 7th May 2026.
Abdulla Hassan Buhindi
Chairman
Mohammed Farouq Almoayyed
Vice Chairman
GROUP ATTRIBUTABLE TO SHAREHOLDERS OF BMMI B.S.C.Lease liabilities 1,009,428 1,307,948
25,402,638 23,068,293 Total liabilities 33,176,025 31,137,417 TOTAL EǫUITY AND LIABILITIES 97,558,255 102,852,914