Karachi: Shareholders of Ghandhara Automobiles Limited convened for the Annual General Meeting on October 13, 2026, at the company's headquarters on Hub Chowki Road, SITE, Karachi. The meeting concluded with the approval of several significant resolutions that were on the agenda.
During the ordinary business proceedings, the shareholders confirmed the minutes from the previous Annual General Meeting held on October 25, 2025. Additionally, the meeting saw the adoption of the Annual Audited Financial Statements for the fiscal year ending June 30, 2026. These statements were accompanied by reports from the company's directors and auditors, as well as a review report from the Chairman.
Another key resolution passed was the reappointment of M/s. Shine Wing Hameed Chaudhri & Co., Chartered Accountants, as the company's auditors for the year ending June 30, 2027. The board was authorized to determine their remuneration.
In a significant financial move, the shareholders approved a final cash dividend of 120%, equating to Rs.12 per share, for the year ended June 30, 2026. This approval was contingent upon the deduction of applicable taxes, and the dividend will be distributed to shareholders listed in the company's register as of October 5, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the resolutions concerning related party transactions were a focal point of the meeting's special business. The shareholders ratified transactions carried out with related parties during the fiscal year ending June 30, 2026. Furthermore, the Chief Executive Officer was authorized to approve any related party transactions for the upcoming fiscal year ending June 30, 2027. This proactive measure was taken to ensure compliance with Sections 207 and 208 of the Companies Act, 2017.
Additionally, an amendment to Article-86 of the Articles of Association was approved, which increases the meeting fee for directors to PKR 300,000 per meeting. This change is intended to align with recommendations made by the Board of Directors.
The resolutions received the necessary majority of votes from the shareholders, marking their approval and setting the stage for Ghandhara Automobiles Limited's continued operations and strategic initiatives in the coming fiscal year.