Lahore, May 22, 2012 (PPI-OT): The Managing Director of Pak Elektron Limited (PAEL) answering to the question in the Corporate Briefing Program at LSE stated that the Company is fully mechanized to meet the growing competition in engineering industry and we understand that PEL is a largest engineering industry in Pakistan at present. Mr. Haroon stated that PEL is doing two types of businesses which include power division business and home appliances business.
Mr. Haroon said that refrigerator is a single largest product of the Company which gives maximum revenue to the Company and currently its market share is 29%. In distribution transformer product PEL is a market leader which owns 42% share in the market.
Speaking on this occasion, Mr. Haroon said that the Company started its journey in 1956 to cater the local need of electrical goods and appliances. The Company is pioneer in electrical goods. Since its inception company is contributing towards the advancement and development of electrical and home appliances in Pakistan and providing employment to hundreds of engineers and skilled labour.
The company ventured into home appliances market in 1980, prior it was only involved in electrical goods manufacturing. Company has two main divisions the Power and the Appliances Division. The vision of the Company is to provide goods and services through continuous improvements, Mr. Manzar Hassan Chief Financial Officer (PEL) further added that the Company’s sale in 2001 was Rs. 2442 million and in 2010 it was 20,000 million rupees.
Mr. Omar Farooq (Co. Secretary) along with Mr. Manzar Hassan, the Chief Financial Officer, Mr. Haroon A. Khan, the Managing Director and G.M Finance, Mr. Mohsin Gilani came in corporate briefing program in LSE and addressed the members, investors, analysts and media representatives. Mr. Manzar Hassan gives a detail overview of the Company’s operational and financial performance.
Mr. Aftab Ahmad Chaudhry, MD, Lahore Stock Exchange mentioned that in the current circumstances where the liquidity is reducing, the activities of high tech companies like Pak Elektron Limited under the corporate briefing program help meeting the informational needs of investors. More information sharing may translate good liquidity in stock of the company.
Mr. Chaudhry further mentioned that the results of Corporate Briefing Programs are far reaching and LSE’s platform is available for all the listed companies to share their managerial efficiency, performance and future plans along with managements concern over their businesses not only with existing and potential investors but also with media.
Mr. Haroon acknowledged the efforts of the current management and appraised the directors of the Exchange for allowing such programs for increasing interaction between the general investors and the companies.
The Corporate Briefing Program is an initiative of the Lahore Stock Exchange to increase market efficiency by gathering various market forces and providing them with useful information which can have positive effect on company’s stock. Management was invited in this program to present their company’s performance and future plans efficiently to the investors.
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