Saritow Spinning Mills Limited (SSML) reported loss per share of PKR 20.05 for FY25, compared to loss per share of PKR 10.34 in FY24.
The Board of Directors, in its meeting held in February 2024, resolved to temporarily shut down the production facility in order to prevent further losses. Open-end yarn, which was previously considered inferior in quality, has improved significantly with the availability of modern machinery. It is now more cost-efficient, requiring lower power consumption and incurring reduced direct costs. At the same time, demand for ring-spun yarn has weakened, with open-end increasingly emerging as its replacement. In response, management is assessing the feasibility of installing open-end machinery, taking into account the prevailing input cost dynamics.
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