Karachi, The Board of Directors of Indus Motor Company Limited convened on August 25, 2023, in Karachi, with video conference participation, to review and audit the financial results for the fiscal year ending June 30, 2023. The company's outstanding performance in this period has led to a series of substantial recommendations and milestones for its stakeholders.

Cash Dividend Breakdown: 718% Total Dividend Declared

Indus Motor Company Limited announced a remarkable financial achievement with the declaration of a Final Cash Dividend for the fiscal year ended June 30, 2023. Shareholders will receive Rs. 29 per share, constituting an impressive 290% dividend. This comes in addition to the combined Interim Cash Dividend of Rs. 42.80 per share (428%) that has already been distributed. The cumulative dividend for the fiscal year 2022-2023 amounts to an unprecedented 718%, equivalent to Rs. 71.80 per share.

Strong Financial Performance in FY 2022-2023

The financial results of the company showcased a robust performance during the fiscal year ending June 30, 2023:

Revenue from contracts with customers surged to Rs. 275,505,778 from Rs. 177,710,637.

Cost of sales stood at Rs. 257,101,297, compared to Rs. 169,779,467.

The company's gross profit amounted to Rs. 18,404,481, reflecting a significant increase from Rs. 7,931,170 in the previous fiscal year.

Operating expenses, including distribution expenses, administrative expenses, and other operating expenses, totaled Rs. 4,492,482.

Net profit from operations reached Rs. 2,758,542.

Additional income from other sources amounted to an impressive Rs. 14,179,381, contributing to a total of Rs. 16,937,923.

After accounting for finance costs, the company's profit before taxation stood at an impressive Rs. 16,797,198.

Taxation amounted to Rs. 7,132,769, resulting in a post-tax profit of Rs. 9,664,429.

The company reported earnings per share of Rs. 122.96, both on a basic and diluted basis.

Upcoming Annual General Meeting and Shareholder Entitlement

The Annual General Meeting of Indus Motor Company Limited is scheduled to take place on September 27, 2023, in Karachi, with participation through video conferencing. The company has set September 19, 2023, as the cutoff date for determining shareholders eligible for the entitlements.

Furthermore, the Share Transfer Books of the company will remain closed from September 20, 2023, to September 27, 2023, inclusive of both days.

Indus Motor Company Limited's exceptional financial performance, substantial dividend declarations, and shareholder-centric approach underscore its position as a leading player in the industry, delivering value and growth for its stakeholders.