Ismail Industries Limited Announces 20% Cash Dividend and Impressive Financial Results for the Year Ended June 30, 2023

Karachi, Ismail Industries Limited, a leading Pakistani conglomerate, has released its financial results for the year ended June 30, 2023. The company's Board of Directors, in a meeting held on September 8, 2023, at the company's registered office in Karachi, made significant recommendations for shareholders.

1) Cash Dividend: Ismail Industries Limited has recommended a final cash dividend of 20% (Rs. 2/- per share) for the fiscal year ending June 30, 2023. This dividend is in addition to the interim cash dividend of 100% (Rs. 10/- per share) already paid earlier in the year.

2) Impressive Financial Results: The financial results for the year 2023 reveal substantial growth compared to the previous year. The company reported consolidated sales of Rs. 100,643,731,994, a remarkable increase from Rs. 65,805,161,598 in 2022. After accounting for sales returns, discounts, and direct expenses, the net sales stood at Rs. 89,643,543,663. The gross profit for the year reached Rs. 18,564,098,714, marking significant growth from the previous year's figure of Rs. 9,959,201,308.

Operating profit for the year was reported at Rs. 9,813,553,853, compared to Rs. 3,994,943,866 in 2022. Other income contributed Rs. 2,096,511,615 to the company's earnings, and the finance cost was Rs. 4,459,624,481.

After accounting for taxation, Ismail Industries Limited reported a profit for the year of Rs. 5,893,263,298. This impressive financial performance reflects a substantial increase from the previous year's profit of Rs. 2,295,351,526.

The earnings per share (EPS) for the year, both basic and diluted, showed significant growth. The basic EPS was reported at Rs. 90.42, compared to Rs. 35.46 in the previous year.

The Annual General Meeting of Ismail Industries Limited is scheduled for October 23, 2023, at 12:00 noon in Karachi. Shareholders whose names appear in the Register of Members on October 16, 2023, will be entitled to receive the recommended cash dividend. The Share Transfer Books of the company will remain closed from October 17, 2023, to October 23, 2023, inclusive.

Ismail Industries Limited continues to demonstrate its commitment to delivering value to shareholders while achieving impressive financial growth in a challenging economic environment.