Board Meeting

The Meeting of the Board of Directors of the Company was held on Thursday 28 th October 2021 at 12:30 p.m. at its registered office to approve the unaudited Financial Statements for the first quarter ended September 30, 2021.

By the grace of Almighty Allah, the Company performed quite well with better profitability during the three months period ended September 30, 2021. The management of the Company adopted best marketing and financial strategies to achieve these financial results for the company as is evident from the Company’s financial indicators. The Company earned Net After Tax Profit of Rs.55,723,049/- for the First Quarter ended on September 30, 2021 as compared to the Net After Tax Profit of Rs.10,377,480/- for the same period last year.

The management of the Company is also pleased to inform that the further BMR of the Company’s Spinning Unit No.2 is in progress. Extension of Spinning Capacity with addition of 8,256 spindles with necessary back process and winding, is being carried out which is expected to be completed within the current financial year. With this BMR/Extension, the mills production will increase quantitatively as well as qualitatively, fetching better financial results that will add value to shareholders’ worth.

The management of the Company hopes that, by the grace of Almighty Allah, the Company will achieve still better financial results for the remaining period of the current financial year to end on June 30, 2022.