Dear Valued Shareholders,
On behalf of the Board of Directors of Generation Next Fashions Limited, let me take this opportunity to welcome you all to the 18‘" Annual General Meeting of the company.
We are pleased to submit before you the operational activities and Audited Financial Statements for the year ending 30 June 2022 as approved by the
Board of Directors.
Business Condition: The global economy is currently facing recession due to Covid 19 and on-going Russia-Ukraine war. As a result,
many apparels traders and brands went on 'Shutdown'. Many of our orders have been either cancelled or postponed/deferred.
Prices of raw materials has gone up manifolds. Overhead cost of the factory including the utility bills has increased to a great extent.
This has caused a huge negative Impact on the business of ready-made garments suppliers all over the country. In spite of these drawbacks,
we are experiencing some upward trend in our business. This has been possible due to the active involvement of our strong management in increasing
the productivity, cutting the cost and in maintaining austerity. If we can continue our efforts like this,
we shall be able to achieve better in the years to come.
Future Plans: In order to sustain in the competitive market, we have no option but to take following measures:
I. Selecting the right and efficient workforce to ensure enhancement of productivity to the optimum level.
II. Continuous negotiation with the customers to seal a favorable deal with better price tag.
III. Going for diversification of products and developing value added products.
IV. Sourcing new markets and adding new buyers from USA, IJK, Africa, Latin America and Far Eastern countries.
V. Continue our all-out efforts in cutting the cost, maintaining austerity and reducing wastage.
VI. Going for product efficient technology.
Human Resources: In a labor intensive factory like ours, nothing is more precious than skilled man-power.
If we can achieve that, their dedication and selfless commitment will yield invaluable benefits to the company.
Conclusion: On behalf of the Board of Directors, I express our deepest appreciation and gratefulness to all of our valued customers for their confidence in our products.
I also like convey our sincere thanks and gratitude to all the employees for their tireless efforts, to the suppliers for their quality goods and to the esteemed shareholders
for their continuous support and trust on us. I firmly believe that, the same support from all stakeholders will continue in the coming years.
May Allah bless us.
Thanking you all,
Tauhidul I. Chaudhury
Chairman of the Board
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