Elahi Cotton Mills Limited’s financial results for the year ended June 30, 2011

Karachi: We have to inform you that the Board of Directors of the Company in their meeting held on September 26, 2011 at 10:30 A.m. at 270-Sector I-9, Industrial Area, Islamabad recommended the following:

(i) Cash Dividend

A final Cash Dividend for the year ended June 30, 2011 at Rs. Nil per share i.e. Nil%. This is in addition to Interim Dividend(s) already paid at Rs. Nil per share i.e. Nil%.

And/ Or

(ii) Bonds Shares

It has been recommended by the Board of Directors to issue Bonus Shares in the proportion of Nil share(s) for every Nil share(s) held .i.e. Nil %. This is in addition to the Interim Bonus Shares already issued @ Nil %.

And/ Or

(iii) Right Shares

The Board has recommended to issue Nil % Right Shares at par/at a discount/premium of Rs. Nil per share in proportion of Nil share(s) for every Nil share(s). The entitlement of right shares being declared simultaneously will not be applicable on Bonus Shares as declared above.

And/ Or

(iv) Any Other Entitlement / Corporate Action           Nil

And/ Or

(v) Any Other Price-Sensitive Information

The Financial Results of the Company are as follows:-

 

Year Ended

June 30,

June 30,

2011

2010

Rupees

Rupees

Sales (Net) 206,403,850 150,011,159
Cost of Sale 203,931,653 154,778,992
———– ———–
Gross Profit/ (Loss) 2,472,197 (4,767,833)
Administrative Expenses 2,103,302 1,210,113
Other operative charges 411,700 353,251
———– ———–
2,515,002 1,563,364
 ———– ———–
Operating Loss (42,805) (6,331,197)
Other Income 635,210 192,232
Financial Charges 107,030 416,402
———– ———–
Profit/ (Loss) before Taxation 485,375 (6,555,367)
Taxation  (2,317,311) 398,768
 ———– ———–
Profit/ (Loss) after Taxation (1,831,936) (6,156,599)
 ———–  ———–
Loss per share – Basic and diluted (1.409) (4.736)
 ———– ———–
Appropriation as Under:
Final Dividend @ Nil (2010 – Nil) - -
Transfer to General Reserve - -

 

 

The Annual General Meeting of the Company will be held on October 28, 2011 at 10:30 as at the registered office of the Company at 270-Sector I,9, Industrial Ares, Islamabad.

The Share transfer Books of the .Company will be closed from October 22, 2011 to October 28, 2011 (both days inclusive).

For more information, contact:
Mahboob Elahi
Chief Executive
Elahi Cotton Mills Limited
270 Sector I-9, Industrial Aria,
Islamabad (Pakistan)
Ph: +92-51-4433451-3
Fax: +92-514431072