Karachi, Pak Elektron Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on April 04, 2023.
The agenda of the meeting was discussion of profit and loss account for Year ended December 31, 2022 which portrayed a profit of Rs. 1,067,467,000 with earnings per share 1.33 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 April 20, 2023 to April 27, 2023 (both days inclusive).
Pak Elektron Limited (PEL) was incorporated in Pakistan on March 3, 1956 as a public limited company. The principal activity of the company is manufacturing and sale of electrical capital goods and domestic appliances. The company is organized in two divisions – Power and Appliances.
In 1978, PEL was acquired by Saigol Group and was taken public a decade later. Over the years, PEL has formed alliances with several international giants, including General Electric, Fujitsu, and Hitachi.
The total number of share of the Company are 497,681,485. The Earnings per shares is 0.36 in 2020 which was 0.27 in 2019. The Profit After Taxation is 223,849,000 in 2020 which was 177,842,000 in 2019.