More than half a century ago the company was incorporated in the province of Sindh as a public limited company under the name of Husein Textile Mills Ltd, which was changed to the Husein Industries Ltd in 1964.
Since inception this textile unit of Landhi Karachi has grown to become one of Pakistan's leading manufacturers of textile products.
Its spinning division comprises 56,000 spindles of Toyoda Japan make to produce 100% cotton carded/combed as well as blended yarns. Its weaving division comprises 227 Sulzar Shuttleless looms to produce 100% Cotton & Blended Fabrics including Sheeting, Twills, Drill, Poplins Fannellek & Satin and another 80 looms to produce yarn dyed, dobbies and Jacquard Fabrics for home textile and apparel division.
Its Textile Processing Division has complete arrangement and facilities for Bleaching, Mercerizing, printing, Sanforizing and Finishing of 100% cotton Blended Fabrics.
It has also added recently yarn Dyeing plant with a capacity of 5 tons per day.
Its Home Textile Division is operating with 200 stitching machines for the production of woven and knitted home textile products.
Its knit division consists knitting unit and knit processing unit. The company is listed on Karachi and Lahore Stock Exchanges.
The closing quotation of Husein Industries shares on 7th September 2004 was recorded at Rs 35.50 per share which is more than three times of its par value. During the last one year the share's price appreciated from Rs 35 to Rs 49 per share.
As regards profit distribution the company's payouts were very attractive during the last two years. In 2002 it declared cash dividend at 45% and in 2003 at 25%.
The company maintained very strong financial position and its robustness can be observed from its solvency, liquidity ratio and sustainability of profit despite less than conducing cost.
The company maintained its profitability almost at the level of preceding corresponding period. At the same time its growth in sales was at 17.1% to Rs 745.30 mln over the amount of Rs 636.37 mln posted in the SPLY.
======================================================
Performance Statistics (Million Rupees)
======================================================
Balance sheet -As At-
======================================================
March 31 September 30
2004 2003
======================================================
Share Capital-Paid-Up: 106.26 106.26
Reserve & Surplus: 314.46 287.90
Shareholders Equity: 420.72 394.16
Deferred Liabilities: 18.96 17.89
Current Liabilities: 1,136.51 1,008.96
Tangible Fixed Assets: 497.67 504.96
Investments: 0.30 0.23
L T Deposits: 5.04 5.04
Current Assets: 1,073.18 910.78
Total Assets: 1,576.19 1,421.01
------------------------------------------------------
Profit & Loss A/c For the
The Half Year Ended March 31 2004 2003
------------------------------------------------------
Sales: 745.30 636.37
Gross Profit: 76.65 71.48
Operating Profit: 39.44 40.70
Other Income: 2.69 3.32
Financial (Charges): (10.23) 11.92
Profit Before Taxation: 30.25 30.11
Profit After Taxation: 26.50 26.91
Earning Per Share (Rs): 2.49 2.53
Share Price (Rs) On 07/09/04: 35.50 -
Price/Earning Ratio: 14.26 -
Book Value of Share (Rs): 39.59 37.09
Debt/Equity Ratio: 0:100 0:100
Current Ratio: 0.94 0.90
Gross profit Margin (%): 10.28 11.23
Net Profit Margin (%): 3.55 4.23
R.O.A: 1.68 1.89
======================================================