Salman Noman Enterprises Limited ('the Company') is a public limited company incorporated under the Companies Ordinance, 1984 (Repealed with the enactment of the Companies Act, 2017 on May 30, 2017) and listed at Pakistani Stock Exchange (formerly Karachi and Lahore Stock Exchanges). The registered office of the Company is situated at 03 Kilometer Bhai Pheru, Tehsil Chunian, District Kasur. The Company was engaged in manufacturing and sale of yarn. The Company had ceased its operations since February 2018.
Financial Highlights
Results for the year
June-30
June-30
2023
2022
Sales - net
-
-
Cost of sales
-
-
Gross Loss
-
-
Distribution cost
-
-
Administrative expenses
(26,494,508)
(27,813,523)
Other operating expenses
-
-
Finance cost
-
-
Loss before taxation
(26,494,508)
(27,813,523)
Taxation
-
-
Loss for the period
( 26,494,508)
(27,813,523)
Loss per share - basic and dilute
(5.93)
(6.23)
Due to the closure of the company's operation there is no such comparison of sales, gross profit and administrative expense.
Due to significant rise in cost of production, raw material and currency devaluation clubbed with decrease in prices of textile end products and reduced the buying power of customers due to high inflation overall at world level result in making the sustainability of even major players difficult. These factors continue to contribute towards decline of demand of textile products. The prices of Raw cotton are volatile and non-predictable. Textile industry is uncertain about behavior of raw cotton market and prices of input materials.
Keeping in view, in this situation it is very difficult for the management to start the operations immediately coupled with the shortage of working capital and litigation with the banking companies.
Salman Noman Enterprises Ltd. published this content on 01 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2023 05:20:18 UTC.
Salman Noman Enterprises Limited is engaged in the business of manufacturing and sale of yarn. The Companyâs production involves manufacturing of various types of yarn both natural and synthetic, production of machinery, and planning and development of new technology. The Company offers products, such as polyester/cotton/viscose yarn; 20/S PC To 38/S PC Carded & Combed; 26/S PV To 36/S PV Carded & Combed, and Portion with Different Blends for Knitting & Weaving. The Company's mills are located district Kasur, Punjab, Pakistan.
SALMAN NOMAN ENTERPRISES LIMITED 
