Part of the prolific Sapphire Group in Pakistan, Sapphire Fibres Limited (PSX: SFL) is a KSE-100 textile composite player. The firm was incorporated as a public limited company in Pakistan in 1979. Today, with a market cap of around Rs 20 billion, it is among the top five textile companies on the Pakistan Stock Exchange.
Sapphire Fibres is a vertically integrated composite textile unit, principally engaged in manufacturing cotton yarn, fabrics, and garments. Its subsidiary, Sapphire Electric Company Limited, was incorporated in Pakistan as a public unlisted company in 2005. Sapphire Fibres has holds 68 percent share capital of the subsidiary. The principal activity of the subsidiary is to operate a combined cycle power station that has a net capacity of 212MW.
Pattern of shareholding & Stock performance
After a mostly lackluster 2016, SFL stock skyrocketed around October, following the announcement of Rs 14 per share dividend - the company's annual cash dividend that was last seen in FY15. Since then, the stock has been above the KSE100, though it has started declining over the past couple of weeks.
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