Financial results of Amreli Steels Limited for Year ended June 30, 2019

Karachi, Amreli Steels Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 12, 2019.

The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2019 which portrayed a profit of Rs. 32,823,463 with earnings per share 0.11 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 17, 2019 to October 26, 2019 (both days inclusive).

Amreli Steels Limited is one of the largest manufacturers of Steel Reinforcement Bars in Pakistan. Situated in the industrial hub of Karachi, their plant uses one of the most modern hot re-rolling mill technologies in the industry and is capable of continuously producing straight bars up to 35 tons per hour. This translates into an annual production capacity of 150,000 metric tons.

At Amreli, they have created a strong culture based on values that have been a part of their long tradition. The hallmark of the success is their reputation as a company that generates and supports exceptional levels of opportunity, initiative and goodwill.

During the past two decades, Amreli Steels has achieved many milestones that have contributed to its success today. Company believe in using the most sophisticated re-rolling technologies available in the world and their strategic partnerships with the world’s most prominent re-rolling mill manufacturers has realized their dream to be truly unique, and the best in Pakistan.

With the recent addition of a state-of-the-art melt shop at Dhabeji, the company accomplished yet another milestone not only for itself but also for the nation. They are now producing their own high quality billets in melt shop that are then transferred to their rolling mill where they are manufacturing the next generation 500MPA High Strength Deformed Bars (Xtreme G-500), the backbone of modern construction throughout the world.

The symbol “ASTL” is being used by the stock exchanges for the shares Amreli Steels Limited