Financial results of Rafhan Maize Products Company Limited for Year ended December 31, 2022

Financial Results

Karachi, Rafhan Maize Products Company Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at London on March 01, 2022.

The agenda of the meeting was discussion of profit and loss account for Year ended December 31, 2022 which portrayed a profit of Rs. 6,179,385 with earnings per share 669.02 basic and diluted respectively.

Further, 750% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from April 25, 2022 to April 27, 2022 (both days inclusive).

“Rafhan Maize Products Company Limited was incorporated in Pakistan. Ingredion Incorporated Chicago, U.S.A., holds majority shares of the Company. The Company uses maize as the basic raw material to manufacture and sell a number of industrial products, principal ones being industrial starches, liquid glucose, and dextrose, dextrin and gluten meals.

The total number of shares are 9,236,400. The Earnings per share is 659.80 in 2020 which was 589.36 in 2019. The Profit after Taxation of the Company 6,094,231,000 in 2020 which was 5,443,566,000 in 2019.”