Karachi, Metropolitan Steel Corporation Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 29, 2019.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2019 which portrayed a loss of Rs. 21,056 with loss per share 0.68 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Metropolitan Steel Corporation Limited is a public limited company incorporated in Pakistan under the Companies Ordinance, 1984. Initially it was established as a private limited company in 1954 and was later converted into a public limited company in 1958. The company manufactures deformed bars, tor steel bars, structural steel, towers, stand wire and concrete wire. The company also provides steel re-rolling, wire drawing, steel fabrication and cold profile complex in Pakistan. The stocks of the company are quoted on the Karachi Stock Exchange. The registered office of the company is located in Karachi.
MSCL is operating under the management of M/s Alloy Steel Company Private Limited. The total annual production capacity is more than 10,000 metric tons.
The symbol “MSCL” is being used by the stock exchanges for the shares of Metropolitan Steel Corporation Limited.