Financial results of Kohinoor Energy Limited for Year ended June 30, 2021

Financial Results

Karachi, Kohinoor Energy Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on September 23, 2021.

The agenda of the meeting was discussion of profit and loss account for Year ended June 30, 2021 which portrayed a profit of Rs. 1,199,421 with earnings per share 7.08 basic and diluted respectively.

Further, 100% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 19, 2021 to October 26, 2021 (both days inclusive).

Kohinoor Energy Limited was incorporated in Pakistan on April 26, 1994 as a public limited company. The principal activities of the Company are to own, operate and maintain a power plant in Lahore and to sell the electricity produced therefrom to a sole customer, the Pakistan Water and Power Development Authority (WAPDA) under a Power Purchase Agreement (PPA).

KEL was jointly established by Saigols Group of Companies (a well-known multi-industrial group of Pakistan) and Toyota Tsusho Corporation (an eminent consortium of multi-industrial undertakings of Japan).

KEL is situated at 35-KM Link Manga Raiwind Road Lahore. It is one of the pioneer projects of Independent Power Producers in Pakistan. The principle activities of the Company is to own, operate and maintain a furnace oil power station with the net capacity of 124 MW (gross capacity 131.44 MW). WAPDA is the sole customer of KEL.

The total number of shares company has introduced are 169,458,614. The Earning per shares of the Company is 6.12 in 2020 which was 3.25 in 2019. Their Profit after tax was 1,036,658,000 in 2020 which was 551,477,000 in 2019.