Pharmaceutical manufacturer reports Rs1.15 billion in quarterly revenue and Rs137.62 million profit, plans closure of Production Line-II, leaving Rs81 million machinery idle, while preparing to sell selected pharmaceutical product rights
The acquisition covers land, a manufacturing facility and associated assets in Karachi, with completion subject to approval from the Competition Commission of Pakistan.
The company plans to utilise proceeds from the disposal of agricultural land near Faisalabad for debt repayment, new projects, capacity enhancement, plant modernisation and strategic investments.
Despite Rs 95.29 million in fresh director financing, the textile company continues to struggle with negative equity, mounting liabilities, weak sales and deteriorating operating cash flows, raising serious questions about its financial sustainability.
