Pakistan PVC Limited’s financial results for the year ended June 30, 2011
Karachi: We have to inform you that the Board of Directors of our company in their meeting held on September 24, 2011 at 9.30 A.M. at Plot No. 31 – A, 1-9 Industrial Area, Islamabad, Pakistan, recommended the following:
An Interim 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 is NIL%.
It has been recommended by the Board of Directors to issue Interim Bonus shares in 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%.
(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 be/will not be applicable on Bonus Shares as declared above.
(iv) Any Other Entitlement/Corporate Action
(v) Any Other Price-Sensitive Information
The financial results of the company are as follows:
Financial Results are Enclosed:
Annual General Body Meeting will be held on October 31, 2011 at 9.00 a.m. at Shaffiabad, Gharo, District Thatta, Registered Office of the Company.
The Share Transfer Books of the Company will remain closed from October 25, 2011 to October 31, 2011 (both days inclusive). Transfers received at Shaffiabad, Gharo, District Thatta at the close of business on September 24, 2011 will be treated in time for the purpose of above entitlement to the transferees.
Pakistan PVC Limited Profit and Loss Account for the Year Ended June 30, 2011
|Sates – net||25||6,509,672||5,748,269|
|Cost of sales||26||(26,910,004)||(25,221,291)|
|Other operating income||27||11,741,917||10,964,168|
|Loss before taxation||(21,831,824)||(20,909,826)|
|Loss for the year||(22,975,135)||(22,049,110)|
|Loss per share – basic and diluted||32||(1.54)||(1.47)|
The annexed notes form an integral part of these financial statements.
Pakistan PVC Limited Balance Sheet as at June 30, 2011
|Share Capital and Reserves|
|15,000,000 (June 30, 2010: 15,000,000)|
|Ordinary Shares of Rs.10/- each||150,000,000||150,000,000|
|issued, subscribed and paid up capital||5||149,580,000||149,580,000|
|Surplus on revaluation of fixed assets||6||143,742,399||155,099,864|
|Non Current Liabilities|
|Long term financing||7||-||-|
|Trade and other payables||9||79,914,536||76,209,604|
|Accrued interest / markup||10||133,988,203||126,749,226|
|Short term borrowings||11||17,947,496||17,751,745|
|Current portion of Long term financing||7||32,991,000||32,991,000|
|Provision for taxation – net||12||99,884||189,653|
|Contingencies and Commitments||13|
|Non Current Assets|
|Property, plant and equipment’||14||162,469,609||173,442,133|
|Lone term investments||15||50,000||-|
|Long term advances and deposits||16||160,315||160,315|
|Stores spare parts and loose tools||17||1,652||1,660|
|Stocks in trade||18||525,973||958,503|
|trade and advances||20||865,574||879,972|
|Tax refunds from Government||23||270,385||490,235|
|Cash and bank balances||24||134,419||224,779|
The annexed notes from an integral financial statements.
For more information, contact:
Pakistan PVC Limited
Shaffiabad, Gharo District Thatta,
Voice: (92-21) 452-6871,
Fax: (92-51) 452-6871