GFIL board approves sale of 36 old looms with WBV of Rs10.04m

MG News | February 27, 2024 at 05:04 PM GMT+05:00

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February 27, 2024 (MLN): The Board of Directors (BoD) of Ghazi Fabrics International Limited (PSX: GFIL) has approved the sale of 36 old looms, according to a notice issued by the company on PSX today.

The Written-Down Book Value (WBV) of these looms is Rs10.036 million which is 1.19% of the total written-down value of Plant & Machinery as of the last audited financial statements for the year ended June 30, 2023.

It is pertinent to note that GFIL is engaged in textile manufacturing, production of cotton and P.C. yarn, and grey cloth that are marketed both within and outside Pakistan.

The company's scrip has closed today's trading session at Rs6.5, down by 20 paisa or 2.99% compared to its previous closing.

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