Karachi: In a significant development, Loads Limited convened its 46th Annual General Meeting on October 20, 2026, at its headquarters in the Pakistan Steel Industrial Estate, Bin Qasim, Karachi. The meeting, attended by shareholders and company officials, resulted in the passage of several key resolutions.
During the ordinary business proceedings, the minutes from the previous year's Annual General Meeting, held on October 24, 2025, were confirmed. The shareholders received, considered, and adopted the audited financial statements for the fiscal year ending on June 30, 2026, along with the accompanying Directors' and Auditors' Reports. These documents provide a comprehensive overview of the company's financial health and operational progress over the past year.
The assembly also reappointed the audit firm, M/s Yousuf Adil Chartered Accountants, as the company's external auditors for the upcoming financial year ending June 30, 2027. Their remuneration will be determined through mutual agreement between the firm and Loads Limited.
A notable aspect of the meeting was the approval of two significant long-term loan facilities to the company's subsidiary, Multiple Autoparts Industries (Private) Limited (MAIL). The first loan, amounting to up to 652.56 million PKR, is intended to address MAIL's working capital needs. The loan will be structured through an adjustment of an equivalent amount from the outstanding receivables from MAIL, negating any need for fresh cash disbursement by Loads Limited.
Further, the shareholders approved another loan facility for MAIL, capped at 250 million PKR, to boost its working capital and fulfill financial obligations. Both loan agreements are unsecured and have a maximum term of seven years. The loans will accrue interest at a rate of the three-month Karachi Interbank Offered Rate (KIBOR) plus 3.00% per annum, with returns payable quarterly in arrears.
According to information available from the Pakistan Stock Exchange (PSX), these financial maneuvers by Loads Limited are set to strengthen MAIL's operational capacity and financial stability, reflecting the company's strategic focus on bolstering its subsidiary's performance.
The special business segment of the meeting also involved ratifying transactions with associated companies and related parties for the year ending June 30, 2026, as disclosed in the financial statements. The Chief Executive Officer was authorized to manage and approve all such transactions for the following year, ensuring compliance and operational fluidity.
These resolutions and financial decisions underscore Loads Limited's commitment to enhancing its subsidiary's growth prospects and maintaining a robust financial framework.