Karachi June 24 2021: Balochistan Glass Limited has successfully fired/ignited the newly refurbished second Furnace at Unit-III situated at Kot Abdul Malik Lahore, as per notice issued at PSX. The commercial production has been started from this Furnace having capacity of 65 metric tons per day.
Stock gained 4.5 percent after the notification, while rallied more than 100 percent since January 01’2021
Successful operations of tableware glass products at first furnace Unit – III (Kot abdul malik) contributed significant portion of the revenue with improved profit margins and also enabled the Company to pay-off its financial liabilities within due course of time.
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HASCOL management commits misconduct in historical financials
Whereas the operations at Units I & Unit II are still suspended due to strategic decisions which has reduced the overall net sales during the period. However, the management is fully committed to resolve all the operational matters and revive these projects.
