Karachi, Dost Steels Limited informed Pakistan Stock Exchange that the management of the Company has been making a multi progged effort to on board potential investors to overcome the financial hurdles facing the Company. The Company is hopeful that their efforts would be successful in the near future and the Company will be able to resume its operations to earn profits in coming financial years and to fulfill all its obligations/liabilities in normal course of the business.

Dost Steels Limited is a company incorporated in Pakistan on March 19, 2004. The principal business of the company include manufacturing of steel, direct reduced iron, sponge iron, hot briquetted iron, carbon steel, pig iron and special alloy steel in different forms. Dost Steels Limited was converted into public limited company with effect from May 20, 2006. The registered office of the company is located at Karachi.

The Company’s mill has a capacity of approximately 350,000 tons per annum, which produces hot rolled high tensile, deformed steel bars of sizes ranging from 8 millimeters to 50 millimeters in length, over 12 meters in bundles and approximately 2,000 kilograms using THERMEX Bar Quenching process.

The Shares of the company are 315,733,860. The Earnings per shares of the company is (0.76) in 2020 which was (0.99) in 2019. The Company had a loss of 241,106,000 in 2020 which was 313,309,000 in 2019.