Macter International Ltd Displays Strong Financial Health with Dividend Announcement

Karachi, Macter International Ltd (MACTER), engaged in the pharmaceutical industry, revealed its financial results for the period ending in February 2024. The company posted an earnings per share (EPS) of Rs. 8.58 for the year 2022/2023. Macter International declared a 32.1% cash dividend and a 9.80% bonus, indicating a positive financial trajectory and a commitment to shareholder returns. Since its listing in 2017, the company has been focused on sustaining its financial growth and enhancing value for its investors, as evidenced by its recent financial performance.

Habib Rice Products Ltd. Reports Strong Dividend Growth

Karachi, Habib Rice Products Ltd. (HRPL), a leading name in the rice industry, has announced a 70% dividend for its shareholders, indicating a strong financial performance. The company, which has been listed since 1982, reported an EPS of 8.33 for the fiscal year 2022/2023. The substantial increase in dividends from 40% in the previous year to 70% reflects Habib Rice Products Ltd.'s solid market position and its strategy to enhance shareholder value.

Chenab Limited Announces Upcoming Board Meeting to Discuss Annual Financials and Auditors’ Appointment

Faisalabad, Chenab Limited has scheduled a Board of Directors meeting for Thursday, March 21, 2024, at the company's registered office in Nishatabad, Faisalabad. The agenda for the meeting includes the confirmation of minutes from the last meeting held on December 22, 2023.

The Board will review and adopt the annual audited financial statements for the fiscal year ended June 30, 2023, which have been audited by M/s. RSM Avais Hyder Liaquat Nauman, Chartered Accountants. This includes examining the Directors and Auditors Reports associated with these financial statements.

Furthermore, the meeting will cover the appointment and remuneration of statutory auditors for the upcoming term. The date and time for the company's Annual General Meeting (AGM) will also be determined during this session.

The Board intends to ratify resolutions passed by directors since the last meeting in December 2023, in accordance with clause 78 of the company’s Articles of Association. Additionally, any other business that arises will be discussed with the permission of the Chair.

In compliance with Clause 5.6.1(d) of the PSX Regulations, Chenab Limited has declared a "Closed Period" from March 14, 2024, to March 21, 2024. During this period, directors, the CEO, or any executives are prohibited from dealing in the company's shares.

Stakeholders and TRE Certificate Holders have been advised of the upcoming board meeting and the related closed period as per regulatory requirements.

Maj Gen Kamran Ali (Retd) Appointed as Director of Askari General Insurance

Islamabad, The Askari General Insurance Company Limited announced the appointment of Maj Gen Kamran Ali (Retd) as a director/member on its Board of Directors (BOD), effective March 14, 2024. This move comes to fill a casual vacancy within the board, pending approval from the Securities and Exchange Commission of Pakistan (SECP).

The company has communicated this update to the TRE certificate holders of the Pakistan Stock Exchange (PSE) as required by regulatory guidelines.

Glass & Ceramics Sector Faces Significant Index Adjustment

Karachi, The Glass & Ceramics sector saw a notable decrease with a market capitalization of Rs. 57,209,001,705 and a traded value of Rs. 24,614,684.340 from a turnover of 475,063. The current index stood at 322,777,035.120, experiencing a massive net change of -845,960.070 and accounting for 0.622% of the market capitalization as of March 15, 2024.

Technology & Communication Sector Sees Decline in Index

Karachi, In the latest market update, the Technology & Communication sector of the Pakistan Stock Exchange saw a decrease in its index despite a high turnover. The sector, with a market capitalization of Rs. 293,937,414,698, saw a significant turnover of 46,267,161 shares, leading to a traded value of Rs. 1,405,004,724.050. However, the current index declined by 391.28 points, settling at 52,633.600, accounting for 3.194% of the market's capitalization.

Woollen Sector Sees Increase in Index

Karachi, The Woollen sector experienced a positive shift with a market capitalization of Rs. 227,199,375 and a traded value of Rs. 83,350.00 from a turnover of 3,500. The sector index rose to 3,494.040, reflecting a net change of 14.620, and making up 0.002% of the market capitalization on March 15, 2024.

Baba Farid Sugar Mills Maintains Stability Amid Market Fluctuations

Karachi, Baba Farid Sugar Mills Ltd. (BAFS) has shown stability in its financial performance amidst market fluctuations, as revealed in the recent disclosures to the Pakistan Stock Exchange. Despite not declaring any dividends for the current period, the company reported an EPS of 9.6 for the fiscal year 2022/2023. Since its listing in 1984, Baba Farid Sugar Mills has maintained its position in the market, demonstrating resilience in challenging economic conditions.

Cherat Cement Co. Ltd. Demonstrates Strong Financial Results

Peshawar, Cherat Cement Co. Ltd. (CHCC) has announced a daily weighted average rate of Rs. 154.65 and a paidup capital of Rs. 1,942.95 million. The distributions for the company have risen from 30% in the previous year to 45% this year, with a 15% interim (I) dividend. CHCC reported an EPS of Rs. 22.67 for January-February 2024. The market lot for the company is set at 10 shares, with the previous book closure date being February 28, 2022. Cherat Cement was listed on the Pakistan Stock Exchange back in 1985.

KSB Pumps Company Limited Announces No Dividend for Fiscal Year 2023

Lahore, In a recent board meeting on March 14, 2024, KSB Pumps Company Limited declared no cash dividend for the fiscal year ending December 31, 2023. The decision comes as the company presents its financial results for the year.

For the year concluded on December 31, 2023, KSB Pumps reported a significant increase in sales, reaching Rs. 5,755,039,000, up from Rs. 4,965,061,000 in 2022. Despite higher sales, the cost of goods sold also rose to Rs. 4,581,410,000 from Rs. 4,190,313,000 the previous year. After accounting for administrative, selling, and general expenses, which themselves saw an increase to Rs. 880,295,000 from Rs. 616,875,000, the operating profit stood at Rs. 293,334,000, nearly double the Rs. 157,873,000 reported in 2022.

Other income for the company decreased to Rs. 91,187,000 in 2023 from Rs. 169,660,000 in the preceding year. With a financial cost of Rs. 372,267,000 in 2023, up from Rs. 254,342,000 in 2022, the profit before taxation was significantly lower at Rs. 12,254,000, compared to Rs. 73,191,000 in the prior year. After making provisions for taxation, the net profit after tax for 2023 was a mere Rs. 843,000, down from Rs. 43,342,000 in 2022. The company also reported an other comprehensive income of Rs. 1,868,000 for the year, an improvement from a loss of Rs. 7,029,000 in 2022.

The earnings per share for the year were calculated at Rs. 0.06, a stark decrease from Rs. 3.28 in 2022. The Annual General Meeting is scheduled for April 23, 2024, in Lahore with the company’s Shares Transfer Book remaining closed from February 16 to April 23, 2024. The annual report will be made available through PUCARS at least 21 days before the AGM.

Masood Textile Mills Preference Shares Yield Positive Returns

Karachi, Masood Textile Mills, through its preference shares (MSOTPS), has announced dividends of Rs.1.16 for the year 2022 and Rs.1.82 for the year 2023/2024. The company, which has preference shares with a paidup capital of 275.00 million, reported an impressive earnings per share of Rs. 11.88 for the period ending January-February 2024. This move reflects the company's commitment to providing value to its preference shareholders, showcasing a positive financial outlook.

Avanceon Limited Reports Strong Growth with a Projected Dividend

Karachi, Avanceon Limited (AVN), a pioneer in automation and control systems, announced a promising 15% bonus share distribution for its shareholders. The announcement comes after a notable EPS of Rs. 5.33* for the period of January-February 2024, indicating strong performance and growth. Since its listing in 2014, Avanceon has consistently shown a commitment to value creation, demonstrated by its share price movement and investor confidence.