Karachi: Artistic Denim Mills Limited has scheduled its 33rd Annual General Meeting (AGM) for October 25, 2025. The meeting, set to occur at Dewan University in Karachi, will address several key business matters, including the adoption of audited financial statements for the year ending June 30, 2025, and the appointment of auditors for the coming year.

The company, which is categorized under the textile sector of the designated market, has reported a challenging financial year. Artistic Denim Mills recorded a net loss of Rs. 451.099 million for the fiscal year, compared to a net profit of Rs. 331.719 million in the previous year. This downturn is attributed to a notable decline in net sales, which fell to Rs. 18.407 billion from Rs. 20.810 billion, primarily due to economic slowdown and escalating production costs.

According to information available from the Pakistan Stock Exchange (PSX), the company's gross profit decreased significantly to Rs. 1.118 billion from Rs. 2.440 billion, driven by rising energy prices and labor costs. Despite these challenges, finance costs saw a notable reduction of 42.01%, reflecting the company's efforts to optimize borrowings and manage working capital effectively.

Artistic Denim Mills has also highlighted the global economic factors impacting its performance. Inflationary pressures and exchange rate fluctuations have contributed to a volatile business environment. The company's directors have decided against declaring any dividend for the financial year, due to the reported losses, but have indicated the possibility of interim dividends depending on future profitability.

Shareholders intending to participate in the AGM must adhere to the specified procedures, including the submission of proxy forms and compliance with identity verification protocols. The company has also made provisions for participation through a video link, enhancing accessibility for its members.

Looking forward, Artistic Denim Mills remains committed to strategic investments aimed at sustainability and innovation. The company continues to prioritize cost efficiencies and technological advancements to maintain its competitive edge in global markets.