Our reference: 1181-NRL-PSX-09-2024 | |
ANNOUNCEMENT | |
September 18, 2024 | FORM - 7 |
The Managing Director | |
Pakistan Stock Exchange Limited. | |
Stock Exchange Building, | |
Stock Exchange Road, Karachi -74000. | |
Tel : 021 111 001 122 |
Subject: Financial Results For The Year Ended June 30, 2024
Dear Sir,
This is to inform you that, the Board of Directors of Nimir Resins Limited (the "Company") in its meeting held on Wednesday, September 18, 2024 at 11:30 a.m. at its Head Office 122-B, New Muslim Town, Lahore has recommended the following:
- Cash Dividend : 10% (i.e. Re. 1 per share)
II. | Bonus Shares : NIL | III. Right Shares : NIL |
Audited Financial Statements of the Company for the year ended June 30, 2024 have been considered by the Board of Directors as recommended by the Audit Committee and the same have been approved. Financial results are attached (Annexure-1).
The 60th Annual General Meeting (AGM) of the Company will be held on Saturday, October 26, 2024 in Lahore at 10:30 a.m.
The share transfer books of the Company shall remain closed from October 20, 2024 to October 26, 2024 (both days inclusive). Physical shares transfers received at the Company's Share Registrar M/s Corplink (Pvt.) Limited, Wings Arcade, 1-K, Commercial, Model Town, Lahore, Ph: 042 35916714 and 35916719, office at the close of business on Friday, October 18, 2024 will be treated in time for the purpose of determining the entitlements to attend and vote at the AGM.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before the Annual General Meeting and will also be available at the Company's website at www.nimir.com.pk.
Yours faithfully,
For Nimir Resins Limited
Muhammad Inam-ur-Rahim
Company Secretary
Encl: Financial Results - June 30, 2024 (Annexure-1)
Annexure-1
Nimir Resins Limited
Financial Results For The Year Ended June 30, 2024 (Audited)
Items | 2024 | 2023 |
Rupees | Rupees | |
Revenue from sales | 10,176,208,632 | 11,063,212,014 |
Less: | ||
- Sales tax | (1,591,464,457) | (1,692,304,372) |
Net sales | 8,584,744,175 | 9,370,907,642 |
Cost of sales | (7,419,530,838) | (8,163,332,358) |
Gross Profit | 1,165,213,337 | 1,207,575,284 |
Distribution cost | (136,684,171) | (116,487,929) |
Administrative expenses | (141,039,348) | (98,702,434) |
(277,723,519) | (215,190,363) | |
Operating Profit | 887,489,818 | 992,384,921 |
Other operating expenses | (53,939,796) | (72,386,150) |
Finance cost | (444,958,433) | (376,236,589) |
Other income | 46,201,331 | 32,145,686 |
Profit before Taxation | 434,792,920 | 575,907,868 |
Taxation | (164,417,304) | (190,033,012) |
Net Profit for the Year | 270,375,616 | 385,874,856 |
Earnings per share - Basic and Diluted | 1.91 | 2.73 |
For Nimir Resins Limited
Muhammad Inam-ur-Rahim
Company Secretary