Annual Report 2017 of Evince Textile Limited

It is a broadly described annual report of Evince Textile Limited in the year of 2017. During the period the Company has contributed Tk. 18.83 million to the National Exchequer as Customs Duty, Income Tax, and Value Added Tax. Turnover during the period from July-2016 to June-2017 is Tk. 2,326.85 million. (i.e. increased by 6.99% as compared with the last year). Net profit increased from Tk. 180.68 million to Tk. 185.61 million (i.e. increased by 2.73% as compared with the last year.) Net Asset Value per share increased from Tk. 14.28 to Tk. 14.73. (i.e. increased by 3.15% as compared with the last period). Shareholders’ Equity is Tk. 2,120.41 million at the end of 30 June 2017 which was Tk. 2,056.07 million at the end of 30 June 2016. ( i.e. increased by 3.13% as compared with the last year)

The management feels that a fair return should be given to the shareholders from the retained earnings while ensuring that the retained earnings are not depleted too much. Therefore for the year ended June 30, 2017, @10% Stock Dividend on paid-up Capital has been recommended by the Board of Directors. 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.