Karachi, Redco Textiles Limited informed Pakistan Stock Exchange that the Company decided to install an on-grid roof mounted solar panels having total capacity of 1,999.06 KWP. The project site is Redco’s existing manufacturing facility located at Rawalpindi, which is expected to be completed within 180 days.
Accordingly, the Company has signed an agreement with MIs Reon Energy Limited on February 25, 2022 for procurement and construction of solar facilities and for providing engineering services. The Company will incur CAPEX on deferred payment basis and will make monthly payments till five years.
Redco Textiles Limited is a Public Limited Company which commenced operations in October 1991. It was incorporated. Redco’s principal activities include manufacture and sale of yarn and greige fabric.
The total numbers of shares are 49,292,600. The Earnings per share is 0.43 in 2020 which was 0.02 in 2019.The Profit after Taxation of the Company is 20,953,000 in 2020 which was 942,000 in 2019.