Karachi, Shams Textile Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on April 27, 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. 15,489 with loss per share 1.79 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Shams Textile Mills Limited is a public limited company incorporated in Pakistan. The company is engaged in the business of manufacturing, sale and trading of yarn and trading of cloth.
A 22,176 spindle-spinning unit located at Shahkot has the capacity of producing 442,000 Kg (approx.) A specialized yarn based new spinning unit of 12,096 spindles has been added to the existing facilities of the Company at Shahkot to cater the demand of coarse count Slub, Multi and Lycra yarns.
With 3 units, a total of 59,232 spindles that produce 1,658,480 Kg/month of yarn Shams Textile is one of the major yarn suppliers in the market.
The total number of shares are 8,640,000. The Earning per share is (16.23) in 2020 which was 5.02 in 2019. The Profit After Taxation in 2020 is Rs. (140,206,000) which was 43,386,000 in 2019.