Karachi, Dadabhoy Sack Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on November 06, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2019 which portrayed a loss of Rs. 12,162,152 with loss per share 3.04 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 November 20, 2019 to November 27, 2019 (both days inclusive).
Dadabhoy Sack Limited was incorporated on September 27, 1983 as a private limited company by the name of Paperpro Industries Private Limited. It was later converted into a public limited company on October 27, 1994 and its name was changed to Dadabhoy Sack Limited on January 19, 1995. The main activity of the company is manufacturing and sale of paper bags. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The plant is located on the main Super Highway adjacent to Dadabhoy Cement Industries to be able to supply the major portion of its production to the sister concern. The company’s surplus production is supplied to cement plant in the vicinity. The project was financed by United Bank Limited. Flush cut paper bags are manufactured using only the finest paper reels from Austria, Canada and Sweden.
The symbol “DBSL” is being used by the stock exchanges for the shares of Dadabhoy Sack Limited.