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Lahore, Nimir Industrial Chemicals Limited, a prominent player in the chemical industry, held its Board of Directors meeting on September 25, 2023, in Lahore. During this meeting, the board announced several key recommendations and decisions that will significantly impact the company’s shareholders and stakeholders.
1. Dividends:
The Board of Directors has recommended a final cash dividend of 20%, equivalent to Rs. 2.0 per share for the fiscal year ending June 30, 2023. This dividend underscores the company’s commitment to sharing its success with its valued shareholders.
2. Bonus and Right Shares:
No bonus shares or right shares have been recommended, and the company will not be issuing any of these shares for the fiscal year in question.
3. Financial Accounts Approval:
The board also reported that the audited standalone and consolidated financial accounts of Nimir Industrial Chemicals Limited for the year ending June 30, 2023, have been reviewed and approved. These financial statements provide an accurate reflection of the company’s financial performance and position for the fiscal year.
4. Annual General Meeting (AGM):
The 29th Annual General Meeting (AGM) of Nimir Industrial Chemicals Limited is scheduled to take place on October 28, 2023, in Sheikhupura. Shareholders and stakeholders are encouraged to participate in this event to gain valuable insights into the company’s performance and future plans.
5. Share Transfer Books Closure:
The share transfer books of the company will remain closed from October 22, 2023, to October 28, 2023, both days inclusive. During this period, no transfers of shares will be processed.
6. Financial Results:
The company also released separate financial results for the year ended June 30, 2023 (audited). Here are some key figures (all values in Rupees):
Revenue from contracts with customers – net: Rs. 43,825,540,792
Gross profit: Rs. 6,413,211,716
Operating profit: Rs. 5,521,038,865
Profit after taxation: Rs. 1,837,650,319
Earnings per ordinary share – basic and diluted: Rs. 16.62
Nimir Industrial Chemicals Limited’s recommendations and financial results reaffirm its commitment to creating value for its shareholders and maintaining transparency and compliance with regulatory obligations. The upcoming AGM will provide an excellent platform for shareholders to engage with the company’s leadership and stay informed about its strategic direction.
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