Karachi, Atlas Battery Limited informed Pakistan Stock Exchange about election of directors for next three years in the extraordinary general meeting held on October 29, 2021 through video link, to brief the investors and analysts about Company’s financial performance for the year ended June 30, 2021.
Atlas Battery Limited was incorporated in October 1966 and it had signed a technical collaboration agreement with Japan Storage Battery Co. Ltd., Japan in 1969 for production and sale of Japanese quality batteries in Pakistan. Atlas Battery started production in 1969.
The Company is a subsidiary of Shirazi Investments Private Limited, which holds 58.86% of issued, subscribed and paid-up capital of the Company as at June 30, 2020.
The Company manufactures a wide range of lead acid batteries suitable for passenger cars, trucks, tractors, heavy vehicles, motor cycles, construction and road-building equipment as well as stationary and industrial applications.
The numbers of shares the company has issued are 24,359,676. The Earnings per Shares in 2020 are (13.43) which was (24.32) in 2019. The Company had a loss of Rs. 327,099,000 in 2020 as compared to Rs. 592,463,000 in 2019.