It is a broadly described annual report of Stylecraft Limited in the year of 2016. Income Tax has been paid for the FY 2015 – 2016 @ 0.60% of export of finished goods at sources as per Income Tax Ordinance-1984 (Ordinance No. XXXVI of 1984) under Section-5386, which is treated as the final discharge of tax liability regarding export during the year. Net Profit after tax for the period ended June 30, 2016 52,482,114 Taka (Tk. 10,714,716+Tk.41, 767,398). The Company has not made deferred tax in this period. Secured Loan balance from Pubali Bank Ltd. stood at Tk. 294,345,390 at the end of the period. In order to meet current expenses an overdraft limit of Tk. 6.00 (Six) core is availed from Pubali Bank Ltd. A part of the loan facility was used during the period.
The Company has, so far, been maintaining steady dividend payouts. The Management of the Company always valued the interest of the shareholders. So, the Board is pleased to recommend the payment of dividend @Tk. 6.00 per share (i.e.60%) for the period of April 01, 2015 to March 31, 2016, and @Tk.1.50 per share (i.e.15%) for the additional period of 3 months ended June 30, 2016. A total number of shareholders of the Company at June 30, 2016, was 338.The price index of shares on that date stood at Tk.1119.90 per share at the Dhaka Stock Exchange. The financial statements are presented in Bangladesh Taka which is the Company’s functional currency. All financial information presented in BD Taka has been rounded off to the nearest Taka.
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