It is a broadly described annual report of Rahim Textile Mills Limited in the year of 2014. The turnover of the company during the year was Tk.575.293 million as against last year’s turnover of Tk.572.483 million. The increase in turnover is 0.49% over the last year. Gross Profit earned during the year was Tk.70.210 million (12.20% of turnover) as against last year’s gross profit of Tk.83.094 million (14.51% of turnover). The decrease in Gross Profit ratio is due to increase in prices of imported and locally procured raw materials, cost of power and other overheads. Net profit (after tax) earned during the year was Tk.23.180 million as compared to last year’s Net profit (after tax) of Tk.12.795 million. The Company succeeded in making the net profit during the year due to increase in Non Operating income of Tk.13.75 million (Tk.13.48 million gain from disposal of fixed assets & Tk.0.27 million from interest & other income) and a decrease of financial expenses by 1.92% compared to previous year. During the year the company earned a profit on a sale of old machinery Taka.13,460,078 and on the sale of an old motor vehicle Taka.11,314 totaling Tk. 13,471,392. The company also earned an interest income on FDR Tk.209,666. This year’s cost of goods sold was Tk.505.08 million (87.80% of turnover) as compared to last year’s cost of goods sold of Tk.489.39 million (85.49% of turnover). This is due to the fact that there has been increased of average production cost Tk.1.28 per yards (in 2013-2014 Tk.25.78 per yards and in 2012-2013 Tk.24.50 per yards). The decrease in production quantity is 3.86 Lac yards over the last year. Production capacity utilized during the year was 84.67%.
Board of Directors has recommended for the declaration of Stock Dividend @ 26% i.e. 13 (Thirteen) Bonus Share for every 50 (Fifty) ordinary shares held by the shareholders on the Record date. This will need issuance of 715,715 Ordinary Shares of Tk.10.00 each by capitalization of Tk. 7,157,150.00 out of Retained Earnings (free reserves).
More Annual Report of Rahim Textile Mills Limited: