Karachi, Nishat Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on September 20, 2021.
The agenda of the meeting was discussion of consolidated and unconsolidated profit and loss account for Year ended June 30, 2021 which portrayed a profit of Rs. 11,205,596 and Rs. 11,205,596 with earnings per share 28.15 and 28.15 basic and diluted respectively.
Further, 40% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from October 21, 2021 to October 28, 2021 (both days inclusive).
Nishat Mills Limited is the flagship company of Nishat Group. It is a public limited company incorporated in Pakistan in 1951 under the Companies Ordinance, 1984. The production facilities of the company comprises of spinning, weaving, processing, stitching and power generation. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock exchanges of Pakistan. The registered office of the company is located at Lahore.
The company is engaged in the business of textile manufacturing and of spinning, combing, weaving, bleaching, dyeing, printing, stitching, apparel, buying, selling and otherwise dealing in yarn, linen, cloth and other goods and fabrics made from raw cotton, synthetic fibre and cloth and to generate, accumulate, distribute, supply and sell electricity. It has 198,120 spindles, 655 Toyota air jet looms, textile dyeing and processing units, 2 stitching units for home textile, one stitching unit for garments and Power Generation facilities with a capacity of 89 MW.
The subsidiary companies of Nishat Mills Limited include Nishat Power Limited, Nishat Linen Private Limited, Nishat Hospitality Private Limited, Nishat USA, Inc. and Nishat Linen Trading L.L.C.
The symbol “NML” is being used by the stock exchanges for the shares of Nishat Mills Limited.