Financial results of Dost Steels Limited for Quarter ended March 31, 2022

Karachi, Dost Steels Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on April 28, 2022.

The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2022 which portrayed a loss of Rs. 38,190,170 with loss per share 0.12 basic and diluted respectively.

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

Dost Steels Limited is a company incorporated in Pakistan on March 19, 2004. The principal business of the company include manufacturing of steel, direct reduced iron, sponge iron, hot briquetted iron, carbon steel, pig iron and special alloy steel in different forms. Dost Steels Limited was converted into public limited company with effect from May 20, 2006. The registered office of the company is located at Karachi.

The Company’s mill has a capacity of approximately 350,000 tons per annum, which produces hot rolled high tensile, deformed steel bars of sizes ranging from 8 millimeters to 50 millimeters in length, over 12 meters in bundles and approximately 2,000 kilograms using THERMEX Bar Quenching process.

The Shares of the company are 315,733,860. The Earnings per shares of the company is (0.76) in 2020 which was (0.99) in 2019. The Company had a loss of 241,106,000 in 2020 which was 313,309,000 in 2019.