Lahore: Ibrahim Fibres Limited convened its 39th Annual General Meeting on April 25, 2025, in Lahore, where the company deliberated on key resolutions concerning its financial and operational governance. The meeting, attended by the board of directors and shareholders, successfully passed several resolutions, including the approval of the previous year’s minutes and financial statements for the year ending December 31, 2024.

The shareholders unanimously approved the minutes of the prior Annual General Meeting conducted on April 25, 2024. Additionally, the company's comprehensive audited annual report for the fiscal year ending December 31, 2024, was sanctioned. This report includes the Statement of Compliance, Statement of Financial Position, Statement of Profit or Loss, Statement of Comprehensive Income, Statement of Cash Flows, and the Statement of Changes in Equity, along with the necessary auditors' reports, the Chairman's review, and the Directors' report.

In a significant move, M/s Yousuf Adil, Chartered Accountants, were appointed as the statutory auditors for the fiscal year ending December 31, 2025. This appointment, recommended by the Audit Committee and approved by the board of directors and company members, marks a continuation of the company's commitment to maintaining transparent financial practices.

Moreover, the Chief Executive Officer was authorized to determine the remuneration of the statutory auditors. The company also resolved to notify the Joint Registrar of Companies in Lahore about the appointment of the statutory auditors, in compliance with the statutory provisions of the Companies Act, 2017.

According to information available from the Pakistan Stock Exchange (PSX), Ibrahim Fibres Limited operates within the designated market category, adhering to the regulatory framework and ensuring that stakeholders are kept informed of significant corporate decisions and financial outcomes.