Karachi, Buxly Paints Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2022.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2021 which portrayed a profit of Rs. 2,748 with earnings per share 1.91 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 February 20, 2022 to February 26, 2022 (both days inclusive).
Buxly Paints Limited was incorporated in 1954 as a private limited company with registered office in Karachi and subsequently converted into public limited company in May 1985. The principal activity of the Company is manufacturing and sale of paints, pigments, protective surface coating, varnishes and other related products under a toll manufacturing agreement with Berger Paints Pakistan Limited, at a specified toll manufacturing fees.
During 2000 the company’s major shareholders decided to dis-invest their shares which were taken over by Slot-Rapid Limited – U.K. Berger Paints Pakistan Limited a leading manufacturing Company owns 19% of Buxly’s share.
The total number of shares the company have introduced are 1,440,000. The Earnings per share is 0.04 in 2020 which was (10.90) in 2019.The Profit after Taxation is 50,000 in 2020 which was (15,695,000).