Thal : Financial Results for the Year Ended June 30, 2023
September 11, 2023 at 11:50 pm EDT
Share
TL/2023/4343
September 11, 2023
The General Manager,
Pakistan Stock Exchange Limited,
Stock Exchange Building,
Stock Exchange Road,
Karachi - 74000
FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30, 2023
Dear Sir,
We are pleased to inform you that the Board of Directors of our Company in their meeting held on Monday, September 11, 2023 at 15:30 have recommended the following:
Cash Dividend:
A final cash dividend for the year ended June 30, 2023 @ Rs. 6.50 per share i.e. 130%. This is in addition to interim dividend already paid at Rs. 1.50 per share i.e. 30%.
Financial Results:
The financial results of the Company for the year ended June 30, 2023 are as follows:
• Unconsolidated Statement of Profit or Loss
2023
2022
------ (Rupees in '000) ------
Revenue - net
31,925,003
37,351,493
Cost of sales
(27,510,072)
(30,847,355)
Gross profit
4,414,931
6,504,138
Distribution and selling expenses
(781,425)
(734,179)
Administrative expenses
(1,107,018)
(985,384)
Other charges
(596,161)
(546,508)
(2,484,604)
(2,266,071)
Other income
2,487,555
1,831,791
Operating profit
4,417,882
6,069,858
Finance costs
(405,451)
(144,964)
Profit before taxation
4,012,431
5,924,894
Taxation
(1,261,672)
(1,667,646)
Net profit for the year
2,750,759
4,257,248
------ (Rupees) -----
Basic and diluted earnings per share
33.95
52.54
Consolidated Statement of Profit or Loss
2023
2022
----- (Rupees in '000) -----
Revenue - net
33,132,564
39,816,991
Cost of sales
(29,086,535)
(33,338,018)
Gross profit
4,046,029
6,478,973
Distribution and selling expenses
(793,225)
(755,647)
Administrative expenses
(1,811,271)
(1,609,559)
Other charges
(801,778)
(626,741)
(3,406,274)
(2,991,947)
Other income
4,204,458
3,242,805
Operating profit
4,844,213
6,729,831
Finance costs
(604,034)
(285,902)
4,240,179
6,443,929
Share of profit after tax of associates and joint venture
3,046,668
2,408,372
Profit before taxation
7,286,847
8,852,301
Taxation
(2,426,820)
(2,523,872)
Net profit for the year
4,860,027
6,328,429
Attributable to
-
Equity holders of the Holding Company
4,407,708
5,810,776
-
Non-controlling interest
452,319
517,653
4,860,027
6,328,429
-------- (Rupees) --------
Basic and diluted earnings per share attributable to the
equity holders of the Holding Company
54.40
71.71
Annual General Meeting:
The fifty-seventh Annual General Meeting of the Members of the Company will be held on Monday October 23, 2023 at 09:30 AM at ICAP Auditorium, Institute of Chartered Accountants of Pakistan, Chartered Accountants Avenue, Clifton, Karachi.
The above entitlement will be issued to the shareholders whose names will appear in the Register of members on Thursday October 16, 2023.
Book Closure:
The share transfer books of the Company will remain closed from October 17, 2023 to October 23, 2023 (both days inclusive). Transfers received at the Company's Share Registrar, M/s FAMCO Associates (Private) Limited, 8-F, next to Hotel Faran, Nursery, Block-6, PECHS, Shahrah-e-Faisal, Karachi (Telephone: +92-21-34380101-5,+92-21-34384621-3, [Ext: 119], Fax: +92-21-34380106) at the close of business on October 16, 2023 will be treated in time for the purpose of the above entitlement to the transferees.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of Annual General Meeting.
Yours faithfully,
For Thal Limited
Sameer Amlani
Company Secretary
CC to:
Chief Executive Officer
Executive Director/HOD
Central Depository Company of Pakistan
Offsite-II Department, Supervision Division
CDC House # 99-B,Block-B
Securities and Exchange Commission of Pakistan
S.M.C.H.S. Shahrah-e-Faisal
63, NIC Building, Jinnah Avenue
Karachi
Blue Area, Islamabad
Fax: 021-34326034 / Tel: 111-111-500
Attachments
Original Link
Original Document
Permalink
Disclaimer
Thal Ltd. published this content on 12 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2023 03:49:06 UTC.
Thal Limited is a Pakistan-based company. The Company is engaged in the manufacture of jute goods, engineering goods, packaging, and laminate sheets. The jute operations are located at Muzaffargarh, Punjab, engineering operations at Karachi, Sindh, packaging operations at Hub, Balochistan and Gadoon, Khyber Pakhtunkhwa and laminate operations at Hub, Balochistan. The Company operates through two segments: the engineering segment and the packaging, building material & allied products segment. The Companyâs engineering segment comprises the Thermal & Engine Components Division, and Electric Systems Division. These divisions are primarily focused on the manufacturing of parts for the automotive industry. The Companyâs packaging, building material & allied products segment comprises: Jute Division, Packaging Division, and Laminates Division. The Laminates division operates under the brand name Formite in the engineered surface industry offering technical laminates and laminated boards.