Karachi, Dewan Automotive Engineering Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on October 25, 2022.
The agenda of the meeting was discussion of profit and loss account for quarter ended September 30, 2022 which portrayed a loss of Rs. 16,066 with loss per share 0.75 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Dewan Automotive Engineering Limited was incorporated on May 6, 1982 and commenced operations in August 1983. The company’s business is the assembly-cum progressive manufacture and sale of tractors, light commercial vehicles and motorcycles and trading/manufacturing of parts and implements related thereto. The company was taken over by Yousaf Dewan Companies.
The total number of shares are 21,400,000. The Earnings per shares of the Company is (2.78) in 2020 which was (3.93) in 2019.The Company had a loss of 59,386,000 in 2020 which was 84,046,000 in 2019.