Karachi: Apollo Textile Mills Ltd. disclosed its financial results for the fiscal year ending June 30, 2023. The board of directors, in a meeting held on August 9, 2024, announced no final cash dividend, maintaining the payout at Rs. NIL per share, consistent with previous interim dividends. Furthermore, no bonus or right shares were recommended.

According to information available from the Pakistan Stock Exchange (PSX), the company reported a net loss of Rs. 38.95 million for the year, compared to a loss of Rs. 43.10 million in 2022, marking a slight improvement in its financial stance. The loss per share has narrowed to Rs. 4.70 from Rs. 5.20 the previous year. This financial performance reflects continued challenges in operational efficiency and market conditions.

The annual general meeting (AGM) of Apollo Textile Mills Ltd. is scheduled under the applicable corporate regulations. The annual report will be transmitted to shareholders through PUCARS at least 21 days before the AGM.

In terms of assets, the company's total non-current assets have decreased from Rs. 560.15 million in 2022 to Rs. 521.96 million in 2023, while current assets remained relatively stable at Rs. 1.47 billion. The company’s total equity also saw a decrease, settling at Rs. 33.28 million down from Rs. 72.23 million in the previous year.

The company also confirmed that all relevant information regarding financial declarations and corporate actions has been communicated to the PSX within the required timeframe, adhering to regulatory requirements for transparency and shareholder communication.

This financial disclosure is critical as it provides shareholders and potential investors with insight into Apollo Textile Mills Ltd.'s operational and financial performance, crucial for making informed investment decisions.