Square Textile-Overview

Topics: Balance sheet, Income statement, Cash flow Pages: 8 (2673 words) Published: September 29, 2010
Square Textiles Ltd. started its journey by establishing the first unit in 1997. One year later the second unit was established. Square Textile is a subsidiary company of Square Group .The Company was incorporated as a public limited company in the year 1994. The operation was started in 1997. It was enlisted in Dhaka Stock Exchange (DSE) & Chittagong Stock Exchange (CSE) in 2002. Within a very short span of time the company achieved some significant success. Square Textile receives Oeko-Tex standard 100 and ISO-9002 certificates in the year 2000. Authorized capital of the company is tk. 1000 million. It’s paid- up capital is tk. 705.84 million. 1,884 employees (till December 31, 2009) are working in this organization. The business lines of Square Textiles Limited are manufacturing and marketing of yarn. The factory is located in Saradaganj, Kashimpur, Gazipur, Bangladesh. Its office is located at Uttara in Dhaka. MISSION STATEMENT

The mission statement of Square Textiles Limited is “Our mission is realization of vision through maximum production of goods and services strictly on ethical and moral standards at minimum costs to the society ensuring optimum benefits to the shareholders and other stakeholders.” This mission is envisioned by the concept of business which ensures well being of the investors, stakeholders, employees and members of the society which will create new wealth in the form of goods and services. STRATEGIC GOALS & OBJECTIVES

The company sets the following objectives for it to achieve: To strive hard to optimize profit through conduction of transparent business operations withinthe legal & Social framework with malice to none and justice for all in respective of gender disparity, caste, creed or religion or region. To Increase productivity.

To create more jobs with minimum investments.
To be competitive in the internal as well as external markets. To maximize export earning with minimum imported in-puts.
To reduce the income gap between top & bottom categories of employees. To promote corporate social responsibilities (CSR) amongst all. Thus the company focuses to pole-star its mission that fulfill the objective with emphasis on the quality of the product , process and services blended with good – governance that help build the image of the most enable corporate – citizenship at home and abroad . The company wants to produce such society friendly goods and services that go to satisfy the wants of all the relevant party without disturbing or damaging the socio- economic and ecological, balance of the mother earth and the process of human civilization leading to peaceful co-existence of all the leaving beings. The company always strives for top quality products at the least cost reaching the lowest rungs of the economic class of people in the country. The company values its obligation to the greater society as well as it strives to protect the interests of its shareholders and to ensure highest return and growth of their assets. CORPORATE HISTORY AT A GLANCE

Year of Establishment1994
Starting of Operation1997
Stock Exchange Listings (Dhaka & Chittagong2002
Awarded Oeko-Tex Standard 1002000
Awarded ISO-9002 Certificate2000
Business LinesManufacturing and Marketing of yarn
Authorized CapitalTk. 1,000 million
Paid-up CapitalTk. 705.84 million
Number of Employees (As on December 31, 2009)1,884 Persons

The entire management process of the company comprises by the following units: Executive Management:
The Managing Director, the CEO is the head of the Executive Management Team which comprises senior members of the Management Apparatus. Within the limits of delegated authority and responsibility by the Board of Directors, Executive Management operates through further delegation of authority at every echelon of the line management. The executive Management operates within the...
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