Generation Next Fashions Limited (GNFL) was incorporated in Bangladesh on 19 August 2004 under the Companies Act 1994 with an authorized capital of BDT 500.00 million and a paid up capital of BDT 47.20 million to carry out business of spinning, weaving and manufacturing of various types of readymade garments of international standard and design.
At present, the paid up capital of the Company is BDT 4500.00 million and the authorized capital is BDT 5000.00 million. GNFL is a 100% export oriented textile and apparel manufacturing company which started its commercial operation on 30 July 2006.
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.