Karachi, Allawasaya Textile and Finishing Mills Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on October 28, 2021 at Multan.
The agenda of the meeting will be confirming the minutes of Extraordinary General Meeting held on May 24, 2021, to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2021 together with the Directors and Auditors Reports thereon, to appoint auditors for the year ending June 30, 2022 and fix their remuneration and to transact any other business with the permission of the chair.
Allawasaya Textile and Finishing Mills Limited was incorporated in Pakistan on December 03, 1958 as a private limited company. It was converted into a public limited company in 1965. It is principally engaged in the manufacturing and sale of yarn.
Initially the Company started business with the processing of Cloth i.e., bleaching, dyeing, mercerizing, printing and finishing in 1958. Moving on and started its first spinning project in 1964 with a capacity of 12,400 Spindles. It produced high quality cotton carded and combed yarn. Presently it is working with full capacity of 38,232 spindles.
The total number of shares of the Company are quoted on Pakistan Stock Exchange as 800,000. The Earning per share is 18.53 in 2020 which was (19.90) in 2019. The Profit after tax is 14,826,000 in 2020 which was (15,920,000) in 2019.