Islamabad: Arju Industries Limited has formally requested an extension from the Securities and Exchange Commission of Pakistan (SECP) to delay its Annual General Meeting (AGM) and the submission of its annual and quarterly financial statements for the fiscal year ended June 30, 2024. The company is seeking a 30-day extension to organize its AGM originally scheduled for the end of this fiscal year and to submit its financial reports for both the annual and first quarter periods.

In letters addressed to the SECP, Arju Industries cited "shifting of the office, client management, and the process of preparing financial statements" as reasons for the delay, which have impacted the timely preparation and audit of their financial documents. According to information available from the Pakistan Stock Exchange (PSX), the company emphasized the logistical challenges encountered in arranging data and conducting audits within the prescribed timelines.

The application for the extension includes the necessary documentation to support the delay: the auditor's certificate affirming the ongoing audit, a copy of the last audited financial statement for the year ending June 30, 2023, and additional administrative documents such as the affidavit of the company secretary and the required fee challan.

Arju Industries has expressed in its communication to the SECP the urgent need for the extension, underscoring the importance of accuracy and thoroughness in financial reporting, which the auditors have advised will require additional time. The company has stressed the cooperation and quick response from the SECP to ensure compliance and transparency in its financial disclosures.