It is a broadly described annual report of Usmania Glass Sheet Factory Limited in the year of 2016. The Company has paid Taka. 423.37 lac to the National Exchequer on account of VAT, TAX, Duties etc. during the year 2015-16. Cash and Bank balance of the Company stands at Tk. 3012.57 lac as on 30th June 2016 against Tk. 3881.70 lac as on 1st July 2015 is the reduction of Tk. 869.13 lac. In the financial year 2015-16, the actual cost of production of 100 sft glass sheet (based on 2mm thickness) was Taka. 1,886.84 which is Taka. 487.20 higher i.e. 34.81% higher than the budgeted cost of Taka. 1,399.64. The cost of production has increased due to less production than the target.
The Board of Directors, after the detailed review of the net loss during the year 2015-16, recommended 10% Stock dividend (Bonus share) for the declaration to the shareholders from the Dividend equalization Reserve considering the expenditure of re-construction of Furnace. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
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