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BRIEF HISTORY OF JAMUNA OIL COMPANY LIMITED
In 1964 Pakistan National Oil Limited (PNOL), the maiden National Oil Company of the then Pakistan was established as a private
limited company. The company started functioning with an authorized capital of Tk.2.00 crore. After the Independence of Bangladesh in 1971 the Government of the Peoples Republic of Bangladesh acquired the assets and liabilities of Pakistan National Oil Limited by virtue of Bangladesh Abandoned Property (control, Management & Disposal) Order, 1972 (P. O. No. 16 of 1972) and the Company was
renamed as Bangladesh National Oil Limited. The Company has been finally renamed as Jamuna Oil Company Limited (JOCL) by the Government on 13 January, 1973. At that time the company was operated by an adhoc committee called Oil Companies Advisory Committee (OCAC)
under Petrobangla, constitute by the notification No. 21 m-4/76 (NR) dated 21-4-73, M/O. Natural Resources. Jamuna Oil Company Limited was registered with the registrar of Joint Stock Companies & Firms as fully Government owned Private Limited Company on 12 March, 1975 under Companies Act 1913 with authorized capital of Tk. 10.00 crore and paid-up capital of Tk. 5.00 crore. Subsequently, in the year 1976 the assets and liabilities of the Company were transferred & handed over to Bangladesh Petroleum Corporation (BPC) as per
schedule stated in clause 31(c) of BPC Ordinance No. LXXXVIII (published in Bangladesh Gazette extra ordinary on 13 November, 1976). Since then Jamuna Oil Company Limited has been functioning as a Subsidiary of BPC. On 1 January, 1986 all assets and liabilities of Indo-Burmah Petroleum Company Limited (IBPCL) were transferred to the Company.
In 2005-2006 FY the paid-up capital of the company was increased to Tk. 10.00 crore from Tk. 5.00 crore by issuing of bonus
share out of its profit. The company was converted into a Public Limited Company from a Private Limited Company on 25 June, 2007
and its authorized capital was increased to Tk. 300.00 crore. On 10 August, 2007 the paid-up capital of the company was increased
to Tk.45.00 crore by issuing bonus share of Tk. 35.00 crore. The company was enlisted with Dhaka Stock Exchange Limited and
Chittagong Stock Exchange Limited on 9 January, 2008 with a view to off-load 1.35 crore shares of Tk.10.00 each under direct
listing procedure and accordingly the shares of the company were off-loaded in the capital market.
There is a Board of Directors constituting of 9 members to run the Company. The overall activities of the company are performed
with the approval of the Board of Directors. The company implements the Government policies as per the guidance and directives
of BPC from time to time.
| Jamuna Oil Company at a glance - | |
| CORPORATE HEADQUARTER: | Jamuna Bhaban, SK. Mujib Road, Agrabad C/A, Chittagong - 4100, Bangladesh |
| RESIDENT OFFICE: | Jamuna Oil Company Limited,Jamuna Bhaban 2,Kawranbazar, Dhaka, Bangladesh. |
| DIVISIONAL OFFICE: | Chittagong,Dhaka,Khulna & Bogra |
| MAIN INSTALLATION: | Guptakhal, Patenga, Chittagong, Bangladesh |
| UP-COUNTRY DEPOTS: | 16 up-country depots all over the country |
| BUSINESS LINE: | Procuring, Storing,Transporting and marketing of petroleum products,Lubricating oils & greases, Bitumen & LPG. |
2. Organizational Goals :
- To ensure smooth supplies of products all over the Country.
- To ensure excellent service to the consumers.
- To ensure effective cost control & profit.
- To maintain effective management system.
- To create effective manpower for the Company.
3. Organizational Structure :
View the Organizational structure here
4. Capital Structure :
Please view the Capital structure & share holding information here
5. STORAGE CAPACITY :
Storage capacity as on 31-03-2011 (Quantity in Metric Ton) :
Depot/Installation |
HOBC |
MS |
SKO |
HSD |
LDO |
JBO |
FO |
TOTAL |
Main Installation, Chittagong |
2,175 |
6,255 |
14,661 |
37,200 |
1,800 |
2,300 |
14,630 |
79,020 |
Fatullah |
1,088 |
1,411 |
1,333 |
5,577 |
|
387 |
1,174 |
10,970 |
Daulatpur |
347 |
781 |
1,956 |
4,234 |
|
414 |
1,227 |
8,959 |
Baghabari |
175 |
417 |
1,524 |
12,258 |
|
|
|
14,374 |
Barisal |
|
150 |
538 |
2,161 |
|
|
|
2,849 |
Chandpur |
|
633 |
1,532 |
1,459 |
|
|
|
3,624 |
Bhairab |
|
|
717 |
766 |
|
|
|
1,483 |
Sylhet |
51 |
386 |
1,040 |
1,282 |
|
|
|
2,759 |
Sreemongal |
322 |
229 |
638 |
681 |
|
|
|
1,870 |
Parbatipur |
|
105 |
331 |
3,006 |
|
|
|
3,442 |
Rangpur |
|
|
329 |
763 |
|
|
|
1092 |
Jhalakati |
|
|
330 |
352 |
|
|
|
682 |
Chilmari (Barge) |
|
|
224 |
432 |
|
|
|
656 |
Balashi (Barge) |
|
|
114 |
122 |
|
|
|
236 |
Sachna Bazar (Barge) |
|
|
197 |
219 |
|
|
|
416 |
Total : |
4,158 |
10,367 |
25,463 |
70,512 |
1,800 |
3,101 |
17,031 |
1,32,432 |
6. SALES PERFORMANCE:
Sales Performance for last five years (Quantity in Metric Ton) :
(Qty in MT) |
||||||
PRODUCT |
2005-2006 |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
Jul'10-Mar'11 |
HOBC |
35,995 |
26,504 |
26,473 |
22,112 |
23,186 |
20,490 |
MS |
49,551 |
40,908 |
39,412 |
36,243 |
37,957 |
30,181 |
SKO |
1,54,758 |
1,58,578 |
1,34,383 |
1,16,463 |
1,29,520 |
1,04,390 |
HSD |
7,24,869 |
7,67,514 |
7,58,281 |
7,48,478 |
8,26,887 |
8,10,493 |
LDO |
0 |
370 |
169 |
0 |
0 |
0 |
FO |
1,57,535 |
1,12,759 |
1,48,543 |
68,729 |
1,12,960 |
1,07,804 |
JBO |
5,626 |
5,456 |
5,393 |
4,465 |
4,979 |
4,898 |
LUB |
4,304 |
5,880 |
5,194 |
4,486 |
4,473 |
3,572 |
GREASE |
58 |
49 |
56 |
42 |
49 |
52 |
LPG |
4,982 |
3,727 |
3,335 |
2,495 |
3,618 |
3,384 |
BITUMEN |
16,980 |
14,008 |
11,015 |
7,397 |
14,453 |
4,031 |
TOTAL |
11,54,658 |
11,35,753 |
11,32,254 |
10,10,910 |
11,58,082 |
10,89,295 |
Inc/(Dec) |
|
(18,905) |
(3,499) |
(1,21,344) |
147172 |
226015 |
% |
|
(1.64) |
(0.31) |
(10.72) |
14.55 |
26.18 |
Note : 2009-10 (upto March'10) Sale was 863280 MT |
||||||
7. OPERATING PERFORMANCE FOR LAST 5 YEARS:
Years |
Thruput |
Gain/(Loss) |
Gain/(Loss) |
2004-05 |
130,30,19,637 |
12,613 |
(1,43,25,645.59) |
2005-06 |
131,98,18,915 |
16,82,957 |
1,70,15,147.00 |
2006-07 |
130,89,72,458 |
9,72,069 |
1,37,00,227.31 |
2007-08 |
132,24,00,857 |
5,81,325 |
(1,81,75,272.28) |
2008-09 |
119,18,75,984 |
7,75,020 |
1,33,41,883.82 |
2009-10 |
133,47,11,352 |
30,39,859 |
8,79,59,058.87 |
Jul'10-Mar.11 |
113,05,87,726 |
13,85,671 |
2,80,32,158.27 |
8. FINANCIAL PERFORMANCE :
Financial Performance for last five years (Amount in Crore Taka) :
|
2005-2006 |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
Total Sales |
3,728.34 |
4,450.49 |
5,097.29 |
5,631.85 |
5,802.84 |
3,253.84 |
Cost of Sales |
3,679.40 |
4,384.70 |
5,014.82 |
5,577.87 |
5,736.83 |
3,216.40 |
Gross Income |
48.94 |
65.79 |
82.47 |
53.98 |
66.01 |
37.44 |
Total Expenses |
36.44 |
35.55 |
36.44 |
39.60 |
41.55 |
22.46 |
Operating Profit |
12.50 |
30.23 |
46.03 |
14.38 |
24.46 |
14.98 |
Other Income |
13.68 |
22.02 |
26.47 |
44.01 |
54.61 |
42.87 |
Workers Participation Fund |
1.31 |
2.61 |
3.63 |
2.92 |
3.95 |
2.89 |
Net Profit |
24.87 |
49.65 |
68.87 |
55.47 |
75.12 |
54.95 |
Tax Provision |
10.08 |
19.38 |
17.74 |
12.82 |
18.71 |
13.60 |
After Tax Profit |
14.79 |
30.27 |
51.13 |
42.65 |
56.41 |
41.35 |
Dividend |
5.00 |
41.75 |
18.00 |
18.00 |
22.50 |
|
Net Assets |
73.45 |
103.72 |
148.09 |
172.01 |
187.92 |
229.27 |
9. BALANCE SHEET :
Balance Sheet for last five years (Amount in Crore Taka) :
|
2005-2006 |
2006-2007 |
2007-2008 |
2008-2009 |
2009-2010 |
2010-2011 |
SOURCES OF FUND |
||||||
SHARE CAPITAL |
5.00 |
10.00 |
45.00 |
45.00 |
45.00 |
45.00 |
CAPITAL RESERVE |
15.28 |
15.28 |
15.28 |
15.28 |
15.28 |
15.28 |
GENERAL RESERVE |
46.50 |
31.50 |
61.00 |
83.00 |
118.00 |
118.00 |
PROPOSED STOCK & CASH DIVIDEND |
5.00 |
41.75 |
18.00 |
18.00 |
22.50 |
22.50 |
UN-APPROPRIATED PROFIT |
1.67 |
5.18 |
8.81 |
10.73 |
9.64 |
50.99 |
TOTAL SOURCES OF FUND |
73.45 |
103.71 |
148.09 |
172.01 |
187.92 |
229.27 |
APPLICATION TO FUND |
||||||
TANGIBLE FIXED ASSETS |
19.56 |
21.57 |
22.90 |
25.50 |
26.46 |
27.33 |
PROVISION FOR GRATUITY |
(5.00) |
(7.00) |
(9.00) |
(11.00) |
(13.00) |
(14.00) |
DEFERRED TAX ASSET |
1.30 |
1.84 |
1.69 |
1.40 |
2.54 |
2.54 |
INVESTMENT |
17.54 |
17.54 |
17.54 |
17.54 |
17.54 |
17.54 |
CURRENT ASSETS |
607.43 |
925.89 |
991.31 |
992.42 |
1231.93 |
1327.86 |
CURRENT LIABILITIES |
(567.38) |
(856.13) |
(876.35) |
(854.61) |
1077.54 |
1132.00 |
NET CURRENT ASSETS |
40.05 |
69.76 |
114.96 |
137.81 |
154.39 |
195.86 |
NET ASSETS |
73.45 |
103.71 |
148.09 |
172.01 |
187.92 |
229.27 |
10. PAYMENT TO THE NATIONAL EXCHEQUER :
Payment to the national exchequer for last 5 years (Amount in Crore Taka).
Years |
Income Tax |
Custom Duty/VAT |
Others |
Total |
2005-06 |
3.17 |
0.37 |
0.71 |
4.25 |
2006-07 |
8.55 |
0.79 |
0.38 |
9.72 |
2007-08 |
24.39 |
0.76 |
0.39 |
25.54 |
2008-09 |
17.48 |
0.75 |
0.39 |
18.62 |
2009-10 |
17.77 |
1.29 |
0.33 |
19.39 |
11. Distribution Network :
Product receipts from ERL & LPG plant and imported finished products are being marketed by the Company through 421 Filling Stations, 713 Distributors Point, 182 Packed Point Dealers and 792 LPG Dealers. Besides, the Company delivers products directly to industries and Power Plants. Company gets supply of LPG from LP Gas Limited, Chittagong and Kailashtila Project, Sylhet.
12. Employee Strength :
As per organogaram and at present strengths of officers
and staffs are as follows:
| Management/Non Management Staff | Organogram | Present Strengths | Shorts |
| Management Staff (Officer) | 200 | 119 | 81 |
| Non Management Staff(Clerical) | 129 | 111 | 18 |
| Non Management Staff(Non Clerical) | 327 | 274 | 53 |
| Total | 656 | 504 | 152 |
13. Profit Margin
Jamuna Oil Company Limited is engaged in marketing POL products. The income it earns is termed as ‘Margin’ which is fixed and determined by the Government. Jamuna has no control over in fixing the price of the products.
14. Joint Venture Company :
To establish a Joint Venture Company, Jamuna Oil Company Limited (JOCL) and Mobil Asia Pacific (PTE) Limited have signed two Agreements, one for the blending plant of Lubricating oil and another for the LPG bottlling plant. The name of the projects are Mobil Jamuna Lubricants Limited (MJLL) and Mobil Jamuna Fuels Limited (MJFL). As per agreement JOCL transferred 12.35 acres of land valued Tk. 17.50 crore. As against Jamuna Oil Company Ltd. received 25% shares of each company.