Karachi: Nadeem Textile Mills Limited has reported a decline in sales turnover for the half year ending December 31, 2024, according to the Chairman’s Review Report released on March 27, 2025. The company recorded a sales turnover of Rs. 3,387.07 million, representing a decrease of 48.34% compared to Rs. 6,555.77 million in the same period of the previous year. The net loss after tax was Rs. (437.17) million, attributed to the challenging economic environment and rising costs of energy and raw materials.
The Board of Directors, consisting of nine members with expertise relevant to the company’s operations, emphasized their commitment to corporate governance. The company continues to adhere to the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance) Regulations, 2019, ensuring transparency and ethical conduct.
There are signs of improvement in the macroeconomic landscape, with strengthening financial indicators and a downward trend in policy rates, along with a reduction in inflation. Political stability has contributed to a more favorable business climate. The decline in policy rates is anticipated to significantly impact economic growth and business sentiment positively. These developments are expected to lead to better financial outcomes in the upcoming quarter.
During the reporting period, the Board undertook a comprehensive self-assessment to evaluate its effectiveness in strategic planning, policymaking, resource management, and business oversight. This evaluation ensures alignment with the company’s long-term objectives and governance framework.
According to information available from the Pakistan Stock Exchange (PSX), the textile sector, in which Nadeem Textile Mills operates, is a significant component of the designated market category. The Board expressed its commitment to continuous improvement and adaptability to drive sustained success.
The Board extended its appreciation to all employees for their dedication and contributions to the company’s progress and thanked shareholders, customers, suppliers, bankers, and other stakeholders for their ongoing trust and support.