STL is a public limited company belonging to one of the leading industrial groups in Pakistan whose other associated companies are Kohinoor Genertek Limited, Security General Insurance Company Ltd Samin Textiles Limited is listed on stock exchanges at Lahore and Karachi and it was incorporated on November 27, 1984.
It is a weaving unit comprising 120 airjet looms from Tsudakoma of Japan.
The average annual production capacity of the plant is 19.28 million running metres of high quality grey cloth based on three shifts a day and 360 days per annum.
The company has a modern laboratory which is equipped with latest yarn and fabric testing equipment embedded with computerised information system.
The company has obtained ISO 9002 and ISO 14000 certification and has implemented BPR (Business Process and Re-engineering System) and it was also awarded Export Merit Trophy.
It has been awarded SA-8000 (Social Accountability) and it is the first textile weaving company to be certified for Quality, Environment and Social Aspect. During the last year ended March 31, 2005 (HY 2004-05), the company posted sales at Rs 756.46 million and gross profit, at Rs 76.28 million registering growth by 15.8% and 59.3% respectively over the corresponding figures booked in the same period last year (SPLY). Its sales and gross profit achieved impressive growth despite severe competition.
Operating profit amounted to Rs 8.39 million as compared to Rs 0.36 million recorded in the same period last year. But higher selling expenses at Rs 60.15 million (SPLY: Rs 40.10 million) and financial charges at Rs 33.37 million (SPLY: Rs 24.69 million) could not be fully absorbed. Resultantly the bottom line went into the Red in both the periods under comparison, consequently accumulated loss eroded the capital base, producing break-up value per share at Rs 9.20 @ 8% discount.
=======================================================
Performance Statistics (Million Rupees)
=======================================================
Balance Sheet -As At-
=======================================================
March 31 September 30
2005 2004
=======================================================
Share Capital-Paid-Up: 133.64 133.64
Accumulated (Loss)/Profit: (10.57) 23.16
Shareholders Equity: 123.07 156.80
Loan From Directors and member 133.07 105.27
L.T. Debts: 194.39 195.97
Deferred Liabilities: 3.13 3.29
Current Liabilities: 832.40 849.74
Fixed Assets: 564.97 573.83
Intangible Assets: - 7.88
L.T. Investments: 15.00 15.00
L.T. Deposits: 1.72 1.72
Current Assets: 704.37 712.64
Total Assets: 1,286.06 1,311.07
-------------------------------------------------------
Profit & Loss A/c for the Half Year ended
March 31 2005 2004
-------------------------------------------------------
Sales-net: 876.01 756.46
Gross Profit: 76.28 47.89
Operating Profit: 8.39 0.36
Other Income: 1.03 2.43
Financial (Charges): (33.37) (24.69)
(Loss) before Taxation: 24.62 23.80
(Loss) after Taxation: 33.73 31.38
Earnings per Share (Rs): (2.52) (2.35)
Share Price (Rs) on 01/08/05:5 - -
Price/Earning Ratio: (-) -
Book Value of Share (Rs): 9.20 11.73
Debt/Equity Ratio: 43:57 43:57
Current Ratio: 0.85 0.84
Gross Profit Margin (%): 8.70 6.33
Net Profit Margin (%): (3.85) (4.15)
R.O.A. (%): (2.62) (2.39)
R.O.E.(%): (27.41) (20.01)
=======================================================
COMPANY INFORMATION: Chairman/Chief Executive: Sarmad Amin; Director: Safdar H. Tariq; Chief Financial Officer/Company Secretary: Safdar Hussein Tariq; Registered Office: 50-Main Gulberg No C, Lahore; Web Address: www.samintextile.com Factory: 8th Km Manga Raiwind Road District Kasur.
Comments
Comments are closed.