Karachi: Next Capital Limited has announced that its Sixteenth Annual General Meeting (AGM) will take place on October 28, 2025, at its Registered Office in Karachi. The meeting agenda includes both ordinary and special business matters, notably the confirmation of previous meeting minutes, the adoption of audited financial statements, and the election of directors.
The ordinary business will confirm the minutes from the previous AGM held on October 25, 2024, and will involve the adoption of the financial statements for the year ending June 30, 2025. The meeting will also see the reappointment of the auditors M/s. Baker Tilly Mehmood Idrees Qamar, Chartered Accountants, as recommended by the Board of Directors. Furthermore, shareholders will elect seven directors for a term of three years, with all retiring directors eligible for re-election.
A significant highlight of the special business to be transacted is the proposal to transfer a 16% shareholding in Finqalab Technologies (Private) Limited, a subsidiary of Next Capital, to Mr. Najam Ali, a co-founder of Finqalab. This move will reduce Next Capital's shareholding in the subsidiary to 60%. The transfer, approved by the Board of Directors and disclosed to shareholders in the previous AGM, recognizes Mr. Ali's contributions to Finqalab's development and customer acquisition efforts.
According to information available from the Pakistan Stock Exchange (PSX), Next Capital Limited recorded a profit after tax of PKR 28.7 million for the fiscal year ending June 30, 2025, a turnaround from the PKR 21.76 million loss in the previous year. The company's operating revenue increased to PKR 287.56 million from PKR 166.55 million, while brokerage income rose by 96.85% due to increased turnover at the PSX. Despite a capital loss of PKR 2.67 million, the company's overall financial performance improved significantly.
The meeting will also address the election of directors, where members, including retiring directors, can file their candidacy intentions at the company's registered office, as per the provisions of the Companies Act, 2017. The election process ensures compliance with relevant laws and the company's Articles of Association.
Additionally, the AGM will consider other routine business matters, such as the closure of share transfer books from October 21 to October 28, 2025. Members entitled to attend the meeting can appoint proxies, and guidelines have been laid down for CDC account holders to authenticate their identity for meeting participation.
Next Capital's financial indicators reflect improved market sentiment and trading volumes during 2024-2025, resulting in a positive outlook for the coming fiscal year. The company's focus remains on enhancing revenue through brokerage and investment banking opportunities, reflecting a commitment to long-term growth strategies.
The company noted a significant decrease in finance costs due to declining discount rates, while other income improved by 23.32%. No dividend has been announced for the year ended June 30, 2025. The firm remains financially sound, with no significant doubts about its ability to continue as a going concern, according to the compliance statement included in the report.