Buxly Paints Limited Announces No Dividend, Bonus, or Rights Shares; Unveils Fiscal Year 2023 Financial Results.

Karachi -- Buxly Paints Limited, a renowned name in the paints and coatings industry, has disclosed significant decisions made during its Board of Directors meeting held on September 23, 2023, at the company's registered office in Karachi.

The Board of Directors approved the following resolutions:

1. CASH DIVIDEND: Nil

2. BONUS ISSUE: Nil

3. RIGHT SHARES: Nil

4. ANY OTHER ENTITLEMENT: Nil

5. ANY OTHER PRICE SENSITIVE INFORMATION: Nil

These resolutions indicate that the company has opted not to issue cash dividends, bonus shares, or rights shares for the fiscal year ending on June 30, 2023, and no other special entitlements or price-sensitive information have been reported.

As part of the disclosure, Buxly Paints Limited has provided its financial results for the fiscal year ending June 30, 2023:

Sales: Rs. 577,076,000

Cost of Sales: Rs. 487,576,000

Gross Profit: Rs. 89,500,000

Distribution and Selling Expenses: Rs. 49,918,000

Administrative Expenses: Rs. 23,675,000

Other Income: Rs. 3,622,000

Finance Cost: Rs. 8,691,000

Other Expenses: Rs. 908,000

Profit before Tax: Rs. 9,930,000

Taxation: Rs. 2,717,000

Profit after Tax: Rs. 7,213,000

Earnings per Share (Basic and Diluted): Rs. 1.89

Comparatively, in the previous fiscal year ending on June 30, 2022, the company reported:

Sales: Rs. 516,473,000

Cost of Sales: Rs. 448,792,000

Gross Profit: Rs. 67,681,000

Distribution and Selling Expenses: Rs. 41,479,000

Administrative Expenses: Rs. 13,126,000

Other Income: Rs. 3,622,000

Finance Cost: Rs. 5,231,000

Other Expenses: Rs. 791,000

Profit before Tax...