BullBD Old Apps Site
Home
Details Chart Today news Share news Top gainer Top Looser Upcoming events
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9 All
Bank Cement Ceramics Sector Corporate Bond Engineering Financial Institutions Food & Allied Fuel & Power IT Sector Insurance Jute Life Insurance Miscellaneous Mutual Funds Paper & Printing Pharmaceuticals & Chemicals Services & Real Estate Tannery Industries Telecommunication Textile Travel & Leisure All
  • Details
  • Chart
  • News

USMANIAGL

All Eps Dividend Board Agm Q1 Q2 Q3

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): in line with Para 37(a) of IFRS 7; Clause 5(A) (iii) & (iv) of schedule-1 under Rule 12(2) of the Securities and Exchange Rules, 1987 and the provision of Part-I, Schedule XI, Section 185 of Companies Act. 6. a) As per note No. 44.00 of the financial statements, the company has foreign currency transaction for the year ended on 30 June 2020. But the company has not recognized any gain or loss arising from foreign currency (cont.12)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): which is violation of IAS 16. 4. The Company did not comply with Circular No. # 179/FRC/FRM//Notification/2020/2 of FRC dated 07 July, 2020 related to Provident Fund (PF). 5. It appears from Note # 10 of notes to The financial statements that the disclosure requirement (Ageing Schedule i.e. analysis of the age of financial assets) for Deposits & Prepayments have not been made (cont.11)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): market transactions on arm's length terms or were estimated using other valuation techniques; (c) for each revalued class of property, plant and equipment, the carrying amount that would have been recognized had the assets been carried under the cost model; and (d) the revaluation surplus, indicating the change for the period and restrictions on the distribution of the balance to shareholders. But there was no information in the policy notes, (cont.10)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): regarding the assessment of any indication of impairment. 3.According to Para 77 of IAS 16, If items of property, plant and equipment are stated at revalued amounts, the following shall be disclosed: (a) the methods and significant assumption applied in estimating the items' fair values; (b) the extent to which the items' fair values were determined directly by reference to observable prices in an active market or recent(cont.9)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): decrease in EPS from (6.21) in the previous year to this year (7.21) is mainly due to increase in operating losses (Refer to Note-42.00).2.According to Para 9 of IAS 36, An entity shall assess at the end of each reporting period whether there is any indication that an asset may be impaired. If any such indication exists, the entity shall estimate the recoverable amount of the asset. But the company did not provide any information (cont.8)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): implementation a tender is in process (Negotiation stage) to select a firm for Market survey & Economic feasibility study. Hopefully within few month the selection process will be completed & selected firm will start the survey works within stipulated time which will take over the existing facilities as much as possible. Emphasis of Matter: Without qualifying our opinion, we draw attention to the following issues, 1.The reason for (cont.7)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): simultaneously forcing the increase in production cost added with gradually decrease in selling price thus justifying the company shifting of it's product line. As such the company is going to implement a new project for production of container glass within next two years. Board of Directors of UGSFL discussed to establish a new container Glass plant in the Board meeting No 327, 328, 330, 332, 333 & 334th. As part of its (cont.6)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): Note no. # 02.06 of Notes to the financial statements. Note 02.06- Going Concern: Float glass technology as used in the company is the oldest & outdated compared to the present day technology of much more improved glass products all over the world not to speak of our country alone, So the company's Sheet glass is substantially lossing year after year in terms of production efficiency and marketability (cont.5)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): loss both in current as well as last few years. However, management has taken an initiative for Market Survey & Economic Feasibility on a new project for production of Container Glass instead of existing outdated Sheet Glass technology but the progress of implementing the decision is carrying significant doubt of the result of the planned project in near future. A disclosure regarding going concern has been made in (cont.4)

USMANIAGL 22-Nov-2020

(Continuation news of USMANIAGL): in Furnace- 2 and it is quite uncertain for resuming the production through this Furnace-2. Moreover, the Usmania Glass Sheet Factory Limited suffers huge technological problem for production since long. Production technology of the company has become backdated comparing with its competitors. For the outdated technology, cost of the product is exceeded its selling price resulting the company has been incurring huge Operating (cont.3)

Previous Next page