Lahore: Ittehad Chemicals Limited, during its Annual General Meeting held on October 28, 2026, passed several significant resolutions aimed at shaping the company's financial and operational strategy for the coming year. The meeting, which was primarily focused on the approval of the financial statements and dividend payouts, also saw the ratification of transactions and approval of substantial investments in associated entities.
The shareholders approved the standalone and consolidated annual audited financial statements for the fiscal year ending June 30, 2026. The resolution, which included the Directors' and Auditors' Reports and the Chairman's Review Report, was passed without opposition.
A significant highlight of the meeting was the approval of dividend payouts. Shareholders ratified the interim cash dividend of Rs. 1.00 per share, equivalent to 10%, which had already been paid during the fiscal year 2025-26. Additionally, a final cash dividend of Rs. 3.00 per share, representing 30%, was approved, marking a notable return for investors.
In another crucial resolution, M/s BDO Ebrahim & Co., Chartered Accountants, were re-appointed as auditors for the fiscal year ending June 30, 2027. The Chief Executive Officer was granted the authority to negotiate the remuneration, ensuring continued financial oversight.
The meeting also addressed special business, including the ratification of transactions with related parties. These transactions, carried out in the normal course of business, were disclosed in note #45 of the Financial Statements for the year ended June 30, 2026, and were duly approved.
A significant decision was made regarding the company's investment strategy. Shareholders approved an increase in investment in M/s Biostacks (Pvt.) Limited, an associated company. The total investment limit was raised from Rs. 1 billion to Rs. 2 billion, with the additional funds intended to support enhanced working capital and capital expenditures. This investment, as per the resolution, may be executed in multiple tranches over a period of five years.
According to information available from the Pakistan Stock Exchange (PSX), these strategic decisions are expected to enhance Ittehad Chemicals Limited's market positioning within the designated market category, contributing to its operational growth and shareholder value.
The Board of Directors was authorized to negotiate and finalize all necessary agreements and take requisite actions to implement these resolutions, ensuring a proactive approach to corporate governance and strategic planning.