Islamabad: Redco Textiles Limited has announced its 34th Annual General Meeting (AGM) will be held on Tuesday, October 28, 2025, at the company’s registered office located at Redco Arcade, 78-E, Blue Area, Islamabad. The meeting will commence at 9:00 AM.
The agenda for this year’s AGM includes several key items. The shareholders will be asked to confirm the minutes of the previous meeting held on October 28, 2024, as well as to receive, consider, and adopt the audited financial statements for the year ending June 30, 2025, alongside the Directors’ and Auditors’ reports. The company has adhered to the regulations of the Companies Act, 2017, by making these documents available for download on their website.
Another significant point of discussion will be the appointment of auditors for the financial year ending June 30, 2026. The current auditors, M/s Mushtaq & Co. Chartered Accountants, have expressed their willingness for reappointment. The ratification and approval of transactions conducted with related parties, as disclosed in the financial statements, will also be put to vote. Additionally, a special resolution is proposed to authorize the Board of Directors to approve related party transactions as disclosed in the financial statements.
Furthermore, the company has announced that the share transfer books will remain closed from October 21 to October 28, 2025. Members eligible to attend and vote at the meeting may appoint a proxy, with all necessary documentation to be submitted 48 hours before the meeting.
In terms of financial performance, Redco Textiles Limited recorded net sales of Rs. 1,800 million for the year ending June 30, 2025, a significant increase from the previous year’s Rs. 1,470 million. Gross profit rose to Rs. 259 million from Rs. 105 million in the prior year. However, the net profit after taxation decreased to Rs. 176 million from Rs. 212 million. The company’s earnings per share were reported at Rs. 3.56, down from Rs. 4.30. The company maintained a capacity utilization of its weaving looms at 70%.
According to information available from the Pakistan Stock Exchange (PSX), the company’s current assets stood at Rs. 1,239.98 million, while current liabilities were recorded at Rs. 2,787.02 million. The total assets were valued at Rs. 4,095.33 million, and shareholders’ equity was noted at Rs. 1,169.22 million. The company’s gross profit margin increased to 14.39%, a big move from the previous year’s 7.17%.
Redco Textiles Limited continues to focus on enhancing production capacity through machinery upgrades and modernization, exploring new export markets, and improving energy efficiency. The company is also committed to adhering to corporate governance standards as set by the Securities and Exchange Commission of Pakistan (SECP) and PSX regulations.