Karachi, Fazal Cloth Mills Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on November 25, 2022 at Lahore.
The agenda of the meeting will be confirming the minutes of Extraordinary General Meeting held on June 23, 2022, to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2022 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.
Further, the closed period of the company is from November 18, 2022 to November 25, 2022 (both days inclusive).
Fazal Cloth Mills Limited was incorporated in Pakistan in 1966 as a Public Limited Company. The Company is principally engaged in manufacture and sale of yarn and fabric. The manufacturing facilities are located at Fazal Nagar, Jhang Road, Muzaffargarh and Qadirpur Rawan Bypass, Khanewal Road, Multan in the province of Punjab.
Currently operates 8 Spinning units comprising 252,564 Spindles and 3,660 Open End Rotors and 888 MVS Spindles installed and Air-jet Picanol 224 Looms.
The company produces 8,515 tons of Yarn and 4.16 million yards of fabric per month. Its count range is from Ne 4/1 – Ne 80/1 in carded, combed, compact, core spun, Multitwist / Multicount / Slub, Double and Zero Twist Yarns. These Yarns are produced with Cotton, Rayon, Polyester Cotton, Modal Cotton and Bamboo Cotton fair trade cotton Fibers. It also produces certified SUPIMA, ORGANIC, GIZA, BCI, Cleaner Cotton, LYCRA, USA Cotton MVS Melange Yarns and Fabric.
The total numbers of shares are 30,000,000. The Earnings per share is 13.36 in 2020 which was 50.52 in 2019. The Profit after Taxation of the Company is 400,718,000 in 2020 which was 1,515,503,000 in 2019.