Unity Foods announces new edible oil under brand name ‘Dastak’

LAHORE: Unity Foods Limited on Monday informed all stakeholders regarding the launch of its new edible oil under the brand name “Dastak”. The commercial production is expected to start in September 2018.

In a notification issued to the Pakistan Stock Exchange (PSX), Unity Foods Limited said, “In accordance with the requirements of applicable provisions of the Securities Act, 2015, and the Rule Book of Pakistan Stock Exchange Limited (PSX), we are pleased to announce that after several months of successful oil refining, the management has decided to launch its edible oil brand under the name “Dastak”. The company is in process of establishing its distributors/dealers network across the country. It is expected that “Dastak” will be available for retail sale by September 2018.”

Unity Foods Ltd (UFL)is an agri-business company with principal activities that entails the entire value chain from the procurement and crushing of multiple oilseeds. Keeping to its values of providing seamless quality to its customers, UFL ensures the quality at each phase of oil extraction at their crushing plant located at Kotri, Hyderabad.

Last year in June 2017, the company’s Board of Directors announced a rights issue to raise Rs1.65 billion for the purchase of assets such as an oil refinery, land, office building, and an extraction plant. In the third quarter of this year, the company recorded Rs416 million is export sales.

The company has a share face value is Rs10.00. UNITY’s Earnings Per Share (EPS) is Rs -2.75, and P/E is -13.76. It has experienced continuous growth in the last two quarters.