Latest news with #MillatTractorsLimited
Business Recorder
a day ago
- Business
- Business Recorder
Ahsan Iqbal visits Millat Tractors factory
LAHORE: Millat Tractors Limited (MTL) hosted Federal Minister for Planning Development & Special initiatives, Prof. Ahsan Iqbal at MTL Factory, in Lahore on Monday. He was the Chief Guest in an event at the plant to celebrate the start of exports of Millat Tractors to Mexico, expanding Pakistan's foot print in international agricultural machinery markets. On this historic event, the minister appreciated the efforts of MTL for achieving more than 90 percent deletion level in tractors, resulting in saving of precious foreign exchange reserves. The Minister was briefed on the issues being faced by the tractor industry, especially with respect to implementation of a long term 'National Tractor Policy', the absence of which has resulted in inconsistent growth and rollercoaster pattern like sales figures of the industry. Copyright Business Recorder, 2025
Business Recorder
13-06-2025
- Business
- Business Recorder
Bolan Castings extends shutdown as weak demand continues
Bolan Castings Limited (BCL), a subsidiary of Millat Tractors Limited, has decided to extend its temporary production halt due to continued weak demand in the tractor industry. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. 'In view of the continued downturn in the tractor industry and the resulting lack of orders, the production activities of Bolan Castings Limited will remain suspended till the situation improves, hopefully soon,' read the notice. Last month, Bolan Castings Limited announced that temporarily halt production activities. 'It is to inform you that the conditions prompting the earlier suspension continue to prevail, given the lack of customer orders due to the continued downturn in the tractor industry,' read the notice back then. Bolan Castings Limited was incorporated in Pakistan as a public limited company in 1982. It is engaged in the manufacturing and sale of castings for tractors and automotive parts. As per the company's latest financial results, the company recorded a net sales of Rs622.19 million during the third quarter ended March 31, 2025, as compared to Rs953.70 million during the same period of last year. BCL posted a profit after tax of Rs15.31 million during the third quarter, as compared to a PAT of Rs68.50 million during the same period of last year.
Business Recorder
23-05-2025
- Business
- Business Recorder
Bolan Castings extends shutdown amid weak demand
Bolan Castings Limited (BCL), a subsidiary of Millat Tractors Limited, has decided to extend its temporary production halt due to continued weak demand in the tractor industry. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. 'Further to our earlier notice dated May 09, 2025, regarding the extension of the temporary suspension of production activities of the company till May 23, 2025, it is to inform you that the conditions prompting the earlier suspension continue to prevail, given the lack of customer orders due to continued downturn in the tractor industry,' read the notice. 'Accordingly, the management of the company has decided to further extend the suspension of production activities till June 13, 2025.' Bolan Castings Limited Last month, Bolan Castings Limited announced to temporarily halt production activities from April 28 to May 9, citing a drop in customer order 'The decision has been taken by the company's management to adjust operations in response to the declining sales environment,' it said back then. Bolan Castings Limited was incorporated in Pakistan as a public limited company in 1982. It is engaged in the manufacturing and sale of casting for tractors and automotive parts. As per the company's latest financial results, the company recorded a net sales of Rs622.19 million during the third quarter ended March 31, 2025, as compared to Rs953.70 million during the same period of last year. BCL posted a profit after tax of Rs15.31 million during the third quarter, as compared to a PAT of Rs68.50 million during the same period of last year.
