Karachi, Allawasaya Textile and Finishing Mills Limited informed Pakistan Stock Exchange that the resolution passed in annual general meeting of the company held on October 28, 2022 at Multan.
“Resolved that the minutes of the previous Annual General Meeting held on October 28, 2021, is unanimously approved by the shareholders.”
“Resolved that the Annual Audited Accounts of the company for the year ended June 30, 2022 together with the Reports of the Independent Auditors, Chairman and Director’s review reports thereon be and are hereby approved and adopted.”
Allawasaya Textile and Finishing Mills Limited was incorporated in Pakistan on December 03, 1958 as a private limited company. It was converted into a public limited company in 1965. It is principally engaged in the manufacturing and sale of yarn.
Initially the Company started business with the processing of Cloth i.e., bleaching, dyeing, mercerizing, printing and finishing in 1958. Moving on and started its first spinning project in 1964 with a capacity of 12,400 Spindles. It produced high quality cotton carded and combed yarn. Presently it is working with full capacity of 38,232 spindles.
The total number of shares of the Company are quoted on Pakistan Stock Exchange as 800,000. The Earning per share is 18.53 in 2020 which was (19.90) in 2019. The Profit after tax is 14,826,000 in 2020 which was (15,920,000) in 2019.