Latest news with #KTML
Business Recorder
5 days ago
- Business
- Business Recorder
Pakistan's renewable rush: Another textile firm plans 7.2MW solar system
In a move aligned with Pakistan's industrial sector's growing shift toward renewable energy, Kohinoor Textile Mills Limited (KTML) is installing a 7.2-megawatt solar power system as part of its push for sustainable operations and cost efficiency. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX). 'The Board of Directors is also pleased to apprise that the company, as part of its commitment towards sustainable energy and focused operational efficiency, is in the process of installing a 7.2MW solar renewable energy system,' read the notice. It added that the company's management is confident that by the end of the first quarter ending on September 30, 2025, KTML will be utilising more than 20% of its operational energy requirement through renewable energy sources. 'This will result in cost savings and reduction of the country's reliance on imported fuels,' it said. Incorporated on 21 December 1987 in Pakistan under the Companies Ordinance, 1984 (Now Companies Act, 2017), Kohinoor Mills Limited is engaged in the business of textile manufacturing and generating, supplying electricity. At the time of filing, KTML share price was being traded at Rs81.15, an increase of Rs7.38 or 10%. There has been a growing shift towards alternative energy sources in Pakistan, especially solar, which has become increasingly popular among residential and commercial sectors. This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant. Nonetheless, several projects have been initiated to exploit this relatively cheaper energy source. Last month, J.K. Spinning Mills Limited announced plans to install 7MW of additional solar capacity as part of the company's strategic initiatives. Dewan Cement Limited successfully commissioned a 6 MW solar power system at its manufacturing facility in Karachi. In May, International Steels Limited (ISL), a subsidiary of International Industries Limited, completed and activated a 6.4-megawatt (MW) solar power project at its factory in Karachi. In March, Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, announced plans to set up a 200KW solar power system at its facility.
Business Recorder
5 days ago
- Business
- Business Recorder
Pakistani textile exporter to establish subsidiary in US to tap global markets
Kohinoor Textile Mills Limited (KTML), a Pakistani yarn exporter, is set to expand its global footprint with the establishment of a wholly-owned subsidiary in the United States. The move is aimed at enhancing the company's presence in international textile markets through e-commerce and related technologies, KTML said in its latest notice to the Pakistan Stock Exchange (PSX). 'The Board of Directors of the company has accorded its approval for the establishment of a wholly-owned subsidiary company in the USA subject to applicable regulatory approvals and in compliance with the laws of US,' read the notice. Pakistan's Systems Limited acquires British American Tobacco's IT arm The company's board has also recommended the subdivision of KTML's shares to enhance market liquidity, improve investor accessibility, and broaden the shareholder base. 'It is proposed that the face value of each ordinary share be changed from Rs10 to Rs1, thereby increasing the number of shares accordingly without altering the total amount of paid-up / authorised capital,' it said. Following the subdivision, the subscribed and paid-up capital of the company, currently comprising 50,911,011 ordinary shares of Rs10 each, will be subdivided into 509,110,110 ordinary shares of Rs1 each. 'This move is expected to encourage wider investor participation and strengthen the company's presence in the equity market,' it said. The company also shared that its newly established garment unit, having built infrastructure for manufacturing 17,000 garments per day per shift, is expected to be completed in the first quarter of the ongoing financial year, i.e. by September 30, 2025. 'In the first phase, production with an estimated capacity of 5,000 garments per day per shift will be started. This will enable the company to reap the benefits of vertical integration. The apparel division will complement the dyeing division of the company by offering finished products to the customers,' it said.
Business Recorder
17-07-2025
- Business
- Business Recorder
Kohinoor Textile Mills plans 5-for-1 stock split to broaden investor base
Kohinoor Textile Mills Limited (KTML) has informed the exchange that its Board of Directors (BoD) has proposed the sub-division of equity shares subject to shareholder approval. 'The board has recommended the sub-division of the company's ordinary shares by reducing the face value from Rs10/- to Rs2/- per share, in accordance with Section 85(1)(c) of the Companies Act, 2017. 'This implies a stock split in the ratio of 5 shares for every 1 share held,' read the notice. Subsequently, the company's Memorandum of Association will be amended to reflect the proposed sub-division of shares. KTML informed that once approved at the Extraordinary General Meeting (EoGM), scheduled to be held on August 15, 2025, the company's existing subscribed and paid-up capital, currently comprising 269,299,456 ordinary shares of Rs10/- each, will be split into 1,346,497,280 ordinary shares of Rs2/- each. As a result, eligible shareholders will receive 5 ordinary shares for every 1 share held. 'The stock split aims to broaden Kohinoor Textile Mills's investor base by making its shares more accessible and affordable for small and retail investors. 'This move is expected to boost market liquidity through increased trading activity. It also underscores the company's confidence in its long-term growth, reflected in the strong rise in its share price over the past year,' it said. Thatta Cement plans 5-for-1 stock split to broaden investor base The listed company was of the view that the split is designed to encourage wider investor participation and strengthen its presence in the equity market. Incorporated in Pakistan under the Companies Act, 1913, Kohinoor Textile Mills Limited is engaged in the manufacturing of yarn and cloth, processing and stitching the cloth and trade of textile products.
