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Tuesday, November 21st, 2017

Dost Steels Limited’s financial results for the year ended June 30, 2011

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by September 21, 2011 Financial Results

Karachi: We are pleased to inform you that the Board of Directors of our company in their meeting held on 21st September 2011 at 11:00 a.m. at the Registered Office of the company situated at Plot # 222, Sector – 39, Korangi Creek Industrial Area, Karachi – 74900 to consider and approved the financial statement for the year ended June 30, 2011 and has recommended the following:

 

Cash Dividend Nil
Bonus Shares Nil
Right Shares Nil
Any other Entitlement/Corporate Action Nil
Any other Price-Sensitive Information Nil

 

 

The financial results enclosed herewith.

The Annual General Meeting of Dost Steels Limited (DSL) will be held on 27th October 2011 at 09:00 (a.m.) at Plot # 222, Sector – 39, Korangi Creek Industrial Area, Karachi 74900.

The Share Transfer Books of the Company will be closed from 20-10-2011 to 27-10-2011 (both days inclusive). Transfer received at the Shares Registrar M/s. Your Secretary (Pvt.) Ltd., Suit no. 1020, 10th Floor, Uni Plaza, I. I. Chundrigar Road, Karachi-74200, at the close of business on 19-10-2011 will be treated in time for the purpose of above entitlement to the transferees.

Profit and Loss Account for the Year Ended June 30, 2011

 

2011

2010

 Note

Rupees

Rupees

Property and equity 2,014,249,653  2,011,228,819
Long term deposits 21,673,345 22,807,345
————– ————-
 2,035,922,998 2,034,036,164
Current assets
Advances  7 638,094 563,415
Short term prepayment  –  165,000
Tax refund due from government  8 442,998 369,130
Other receivable  9 66,547 78,975
Cash and bank balances 10 129,421 175,376
————– ————-
1,277,060 1,351,896
 ————–  ————-
Total assets 2,037,200,058 2,035,388,060
————– ————-
Equity and Liabilities
Share capital and reserves
Authorized share capital
70,000,000 ordinary shares of Rs. 10 each 700,000,000 700,000,000
————–  ————-
Issued, subscribed and paid up capital 11 674,645,000 674,645,000
Reserves  (74,182,488)  (63,674,856)
————–  ————-
Shareholders’ Equity 600,462,512  610,970,144
Non-current liabilities
Provision for Gratuity  4,550,902  –
Long term loans  12  5,555,553  166,972,721
 ————– ————-
10,106,455 166,972,721
Current liabilities
Current and overdue portion of long term loans 12  925,752,684  764,335,516
Short term borrowings  13  255,973,012 249,061,508
Trade and other payables 14 41,055,375 40,198,151
Markup accrued 15 203,850,020  202,850,020
 ————–  ————-
1,426,631,091 1,257,445,195
Contingencies and Commitments  16
 ————– ————-
Total equity and liabilities 2,037,200,058 2,035,388,060
Administrative expenses  17 (10,654,102)  (10,954,800)
Other operating income  18 146,470  168,034
 ————–  ————-
Loss before taxation  (10,507,632) (10,786,766)
Taxation 19
————– ————-
Loss after taxation  (10,507,632) (10,786,766)
 ————– ————-
Loss per share 20 (0.16)  (0.16)

 

The annexed notes form an integral part of these financial statements

For more information, contact:
Dost Steels Limited
Plot No. 222, Sector 39,
Korangi Creek Industrial,
Area Karachi – 74900
Web: www.doststeels.com
E: ho@doststeels.com

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