Dost Steels Limited (DSL) informed that it has been unable to resume operations in 2025 due to insufficient working capital and financial challenges.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“Unfortunately, the company has been unable to resume its commercial operations this year due to insufficient working capital,” read the statement.
The company explained that despite its ongoing efforts, financial constraints have hindered its ability to restart full-scale production.
“We are actively working to resolve our financial challenges and are currently in discussions with the syndicate of banks to settle outstanding debts. This step is essential to restoring operations and ensuring the company’s future growth,” it added.
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Following the development, the share price of Dost Steels Limited declined to Rs.6.71, a decrease of Re0.15 or 2.19%.
As per the company’s latest financial results, the company endured a loss of Rs242 million in FY24.
Dost Steels Limited was incorporated in Pakistan on March 19, 2004, as a private limited company under the Companies Ordinance, 1984 now the Companies Act, 2017.
The principal business of the company includes the manufacturing steel, direct reduced iron, sponge iron, hot briquetted iron, carbon steel, pig iron and special alloy steel in different forms, shapes and sizes and any other product that can be manufactured within the existing facilities.
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