Karachi: The Board of Directors of Din Textile Mills Limited convened at the company's registered office in Karachi on February 21, 2025, to review and approve the un-audited financial results for the second quarter and half-year ending December 31, 2024. The meeting, held at 10:30 A.M., concluded with several key determinations concerning shareholder entitlements.
In the meeting, the Board decided not to recommend any cash dividends, bonus shares, or right shares for this period. Additionally, no other entitlements or corporate actions were proposed. The Board also did not disclose any price-sensitive information at this time. The designated market category for these announcements is the Pakistan Stock Exchange (PSX).
According to information available from the Pakistan Stock Exchange (PSX), Din Textile Mills Limited detailed various financial adjustments. The adjustments included depreciation, amortization, staff retirement benefits, provisions for doubtful debts, government grants, finance costs, and gains on the disposal of property, plant, and equipment. These adjustments were crucial in calculating the profit before changes in working capital.
The company reported a decrease in current assets, which encompassed stores, spare parts, loose tools, stock in trade, trade debts, advances, trade deposits, and other receivables. Conversely, there was an increase in current liabilities, which included trade and other payables, payable against murabaha financing, payable against istisna financing, and payable against FE-25 export financing.
The cash generated from operations was recorded at 2.31 billion, while finance costs paid amounted to 1.44 billion. Taxes refunded were noted at 116.26 million. Staff retirement benefits paid were recorded at 1.22 billion. The operational cash flow adjustments also highlighted a net cash decrease of 3.29 billion.
The financial report concluded with the disclosure of cash and bank balances and short-term borrowings, which were crucial in assessing the company's liquidity position at the end of the reporting period. The Board of Directors emphasized that the enclosed information should be circulated among the members of the Pakistan Stock Exchange.