Karachi, Shield Corporation Limited, a leading company in its industry, has released its financial results for the year ended June 30, 2023, showcasing significant growth and profitability.
Karachi, September 21, 2023 The Board of Directors of Shield Corporation Limited convened on Thursday, September 21, 2023, at 12:00 p.m. in Karachi to review and recommend the company’s financial performance for the fiscal year 2023. The board’s recommendations included decisions on cash dividends, bonus shares, and right shares, all of which were set at NIL.
The approved financial results for the year, as presented by the board, revealed remarkable progress in various key financial metrics:
Sales: Net sales for 2023 amounted to Rupees 4,357,631,431, a substantial increase compared to Rupees 2,662,054,711 in 2022.
Gross Profit: The company reported a gross profit of Rupees 1,132,351,050 in 2023, compared to Rupees 638,293,250 in the previous year.
Operating Profit: Shield Corporation achieved an operating profit of Rupees 430,961,447, significantly surpassing the previous year’s figure of Rupees 111,728,948.
Profit Before Taxation: The profit before taxation soared to Rupees 227,055,598 in 2023, compared to Rupees 25,796,801 in the prior year.
Profit for the Year: Shield Corporation Limited reported a substantial profit for the year, totaling Rupees 144,964,155, compared to Rupees 17,761,965 in 2022.
The company also disclosed earnings per share (EPS) for the year, with basic and diluted EPS standing at 37.17 Rupees, a significant increase from the previous year’s 4.55 Rupees.
These remarkable financial results demonstrate the company’s robust performance and growth trajectory during the fiscal year 2023. The board will transmit the complete Annual Report for the year ended June 30, 2023, through the Pakistan Universal Communication and Reporting System (PUCARS) within the stipulated time frame. Shield Corporation Limited’s shareholders and stakeholders can look forward to more detailed insights into the company’s performance and strategies in the upcoming report.
Karachi, Kohinoor Energy Limited (KEL) announced its audited financial results for the year ended June 30, 2023, during a board meeting held today at the company's Plant Site, near Tablighi Ijtima, Raiwind Bypass, Lahore.
In a notable development, the company's Board of Directors recommended no cash dividend, bonus shares, or any other price-sensitive information for the shareholders. This decision reflects the financial performance and priorities of the organization for the fiscal year in review.
The financial statement for the year ending June 30, 2023, reveals key figures as follows (all figures in thousands of Rupees):
Revenue: 12,583,137
Cost of Sales: 14,538,310
Gross Profit: (10,194,769)
Administrative Expenses: (12,562,948)
Other Expenses: 2,388,368
Finance Costs: 1,975,362
Other Income: 6,866
Operating Profit: 2,063,978
Profit before Taxation: 1,734,701
Taxation: (488,972)
Profit after Taxation: 1,575,006
Earnings per Share: 9.29 Rupees (compared to 8.90 Rupees in the previous year)
The Share Transfer Books of Kohinoor Energy Limited will remain closed from October 19, 2023, to October 25, 2023, both days inclusive, for administrative purposes.
Kohinoor Energy Limited continues to operate in the energy sector, and its financial results for this fiscal year reflect the challenges and opportunities faced by the company in a dynamic business environment. Shareholders and investors are encouraged to review the detailed financial report for a comprehensive understanding of the company's performance.
