Karachi, Artistic Denim Mills Limited informed Pakistan Stock Exchange that the notice under Section 256 of the Companies Act, 2017 was issued on a complaint from minority shareholders alleging the manner in which the business of the Company is being managed and seeking certain declaration.
Artistic Denim Mills Limited is a public listed company which started production in 1993 and persistently offering premium fabrics with multiple colors, shades and garments with extensive array of washes. Artistic Denim Mills Limited is engaged in the business of manufacturing of dyed denim fabric, yarn, and value-added textile products.
The company is a complete vertical unit converting cotton to finished garments, and is equipped with rope dyeing machines with a capacity of 140,000 meters.
The shares of the company are quoted on Pakistan stock Exchange, and the symbol “ADMM” is being used by the stock exchange for the shares of Artistic Denim Mills Limited.
The total number of shares they issued are 84,000,000. Earning Per Shares has decreased in 2020 which is 1.35 compare to 10.32 in 2019. The Net Profit Margin percentage has also decreased in 2020 which is 1.43% whereas it was 11.16% in 2019.