Financial results of Huffaz Seamless Pipe Industries Limited for period ended March 31, 2016

Karachi, Huffaz Seamless Pipe Industries Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on July 20, 2016.

The agenda of the meeting was discussion of profit and loss account for nine months period and quarter ended March 31, 2016 which portrayed a profit of Rs. 8,833 with earnings per share 0.16 basic and diluted and a loss of Rs. 30,609 with loss per share 0.55 basic and diluted.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

Huffaz Seamless Pipe Industries Limited was incorporated in Pakistan on October 09, 1983 as a public company limited by shares. The shares of the Company are quoted on Pakistan Stock Exchange. The principal object and business of the Company is manufacturing and selling of seamless steel pipes and tubes (tubular products). Huffaz is the first and only seamless pipes manufacturer in Pakistan. The Company has successfully diversified into some allied seamless pipes products. As a forward integration, we have established Coating Plant which has started 3 layered epoxy coating on pipes from 2012. As a backward integration, the company has its own workshop, for the production of equipment’s to be used in Seamless Pipe industry, known as Huffaz Engineering Workshop (HEW).

The Company Brand HUFFAZ enjoys leading position in Seamless industry in Pakistan, as our products are of international quality standards and we believe in constant product development. With our strong dealers and distribution network we are spread all over Pakistan.

The plant, based in Nooriabad, incorporates the latest German technologies & techniques and state of the art imported machinery to manufacture high class products that conform to International standards.

The symbol “HSPI” is being used by the stock exchanges for Huffaz Seamless Pipe Industries Limited.