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Pak Elektron Limited — Earnings Release 2020
Mar 27, 2020
72275_rns_2020-03-27_e3384e02-286f-437b-b961-c38cb12fd7b8.pdf
Earnings Release
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PAK ELEKTRON LIMITED
March 27, 2020
| Head Office: : | 14-Km, Ferozepur Road, Lahore-54760 Pakistan G.P.O. Box No. 1614, Lahore - Pakistan. |
| Tel: : | (+92 42) 35920151-9 |
| Facsimile: : | (+92 42) 35920150 |
| Website: : | www.pel.com.pk |
The General Manager
Pakistan Stock Exchange Limited,
Stock Exchange Building/Road,
Karachi.
Sub : Financial Results for the Year Ended December 31, 2019
Dear Sir,
We have to inform you that the Board of Directors of Pak Elektron Limited in their Meeting
held today at 11:30 A.M. at Factory Premises, 14-Kilometers Ferozepur Road, Lahore
recommended the following:
(i)
CASH DIVIDEND
NIL
(ii)
BONUS SHARES
NIL
(iii)
ANY OTHER TRANSACTIONS
The Board of Directors has approved amalgamation of PEL Marketing (Private)
Limited, a wholly owned subsidiary of Pak Elektron Limited ('PEL') with and into PEL
under Section 284 read with all other enabling provisions of the Companies Act, 2017.
The completion date of amalgamation is 30 April, 2020 in terms of the Scheme of
Amalgamation
The financial results of the Company for the year ended December 31, 2019 are attached :
PAK ELEKTRON LIMITED
| Head Office: | : 14-Km, Ferozepur Road, Lahore-54760 Pakistan G.P.O. Box No. 1614, Lahore - Pakistan. |
| Tel: | : (+92 42) 35920151-9 |
| Facsimile: | : (+92 42) 35920150 |
| Website: | : www.pel.com.pk |
CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Audited)
| December 31, 2019 | December 31, 2018 | |
|---|---|---|
| (Rupees in thousand) | ||
| Revenue | 37,621,269 | 38,990,247 |
| SALES TAX, EXCISE DUTY AND DISCOUNTS | (9,721,351) | (10,544,936) |
| NET REVENUE | 27,899,918 | 28,445,311 |
| COST OF SALES | (21,326,893) | (21,448,040) |
| GROSS PROFIT | 6,573,025 | 6,997,271 |
| OTHER INCOME | 33,887 | 17,977 |
| DISTRIBUTION COST | (1,956,380) | (2,207,445) |
| ADMINISTRATIVE AND GENERAL EXPENSES | (1,234,417) | (1,081,326) |
| OTHER EXPENSES | (52,217) | (63,376) |
| (3,243,014) | (3,352,147) | |
| OPERATING PROFIT | 3,363,898 | 3,663,101 |
| FINANCE COST | (2,480,088) | (2,103,343) |
| 883,810 | 1,559,758 | |
| SHARE OF LOSS OF ASSOCIATE | (2,806) | (2,456) |
| PROFIT BEFORE TAX | 881,004 | 1,557,302 |
| PROVISION FOR TAXATION | (2,411) | (185,833) |
| PROFIT AFTER TAX | 878,593 | 1,371,469 |
| EARNINGS PER SHARE - RUPEES | ||
| BASIC & DILUTED | 1.68 | 2.67 |
PAK ELEKTRON LIMITED
| Head Office: : | 14-Km, Ferozepur Road, Lahore-54760 Pakistan G.P.O. Box No. 1614, Lahore - Pakistan. |
| Tel: : | (+92 42) 35920151-9 |
| Facsimile: : | (+92 42) 35920150 |
| Website: : | www.pel.com.pk |
UN-CONSOLIDATED FINANCIAL RESULTS
FOR THE YEAR ENDED DECEMBER 31, 2019 (Audited).
| December 31, 2019 | December 31, 2018 | |
|---|---|---|
| (Rupees in thousand) | ||
| Revenue | 27,696,469 | 27,182,898 |
| SALES TAX, EXCISE DUTY AND DISCOUNTS | (5,346,720) | (3,710,466) |
| NET REVENUE | 22,349,749 | 23,472,432 |
| COST OF SALES | (19,021,046) | (20,719,396) |
| GROSS PROFIT | 3,328,703 | 2,753,036 |
| OTHER INCOME | 32,303 | 17,384 |
| DISTRIBUTION COST | (953,701) | (732,340) |
| ADMINISTRATIVE AND GENERAL EXPENSES | (616,299) | (524,558) |
| OTHER EXPENSES | (39,772) | (43,529) |
| (1,609,772) | (1,300,427) | |
| OPERATING PROFIT | 1,751,234 | 1,469,993 |
| FINANCE COST | (1,539,898) | (976,447) |
| PROFIT BEFORE TAX | 211,336 | 493,546 |
| TAXATION | (33,494) | 34,799 |
| PROFIT AFTER TAX | 177,842 | 528,345 |
| EARNINGS PER SHARE - RUPEES | ||
| BASIC & DILUTED | 0.27 | 0.98 |
The Annual General Meeting of the Company will be held on May 21, 2020 at 11:00 A.M., at
Factory Premisis, 14-KM, Ferozepur Road, Lahore,
The Share Transfer Books of the Company will be closed from May 15, 2020 to May 21, 2020 (both
days inclusive).
The Annual Report of the Company will be transmitted through PUCARS atleast 21 days before
holding of Annual General Meeting.
Thanking you,
Yours sincerely
for PAK ELEKTRON LIMITELYON LIM
M. OMER FAROOQ
Company Secretary