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Karachi, Gulshan Spinning Mills Limited announced its financial results for the year ended June 30, 2022. Despite the challenges faced by the industry, the company reported a significant loss in its operations.
During a recent board meeting held on June 2, 2023, in Lahore, the Board of Directors of Gulshan Spinning Mills Limited recommended the following:
(i) Cash Dividend: NIL
(ii) Bonus Shares: NIL
(iii) Right Shares: NIL
The financial results of the company are as follows:
Sales – Net: PKR 25 million
Cost of Sales: PKR 190.096 million
Gross (Loss)/Profit: PKR (88.946 million)
Operating Cost: Not specified
Administrative and General Expenses: Not specified
Other Operating Expenses: Not specified
Net Other Income: Not specified
Operating (Loss)/Profit: Not specified
Finance Cost: Not specified
(Loss)/Profit before Taxation: Not specified
Taxation: Not specified
(Loss)/Profit After Taxation: PKR (88.946 million)
The Board of Directors also approved the Annual General Meeting for the year ended June 30, 2022, which will be held on June 24, 2023, in Karachi.
The Share Transfer Books of the company will remain closed from June 17, 2023, to June 24, 2023, inclusive. This closure will affect any transfer of shares during this period.