Karachi: Ismail Industries Limited has announced a series of key resolutions approved during its 38th Annual General Meeting held on October 28, 2026. These resolutions detail strategic financial decisions and management directives designed to guide the company's operations and financial interactions for the coming year.
The meeting commenced with the approval of the minutes from the previous annual meeting held on October 8, 2025. The shareholders also endorsed the company's annual audited financial statements for the fiscal year ending June 30, 2026, along with the accompanying Directors' and Auditors' reports.
A notable decision was the approval of a final cash dividend of 50%, equating to Rs. 5 per share, as recommended by the Board of Directors for the fiscal year ending June 30, 2026. Additionally, the reappointment of M/s. Grant Thornton Anjum Rahman as auditors for the year ending June 30, 2027, was confirmed.
In matters of special business, the transactions conducted with related parties during the fiscal year ending June 30, 2026, were ratified. The Board was granted authority to approve future related party transactions on a case-by-case basis for the financial year ending June 30, 2027. These transactions will subsequently be presented for shareholder ratification at the next annual meeting.
The meeting further sanctioned the remuneration packages for the Chief Executive Officer and the Executive Director, set at Rs. 24,000,000 and Rs. 19,800,000 per annum respectively, along with additional perquisites and benefits valued at approximately Rs. 2,000,000 and Rs. 1,650,000 per annum.
On the investment front, the company authorized the renewal and enhancement of an intercompany loan to its subsidiary, M/s. Ismail Resin (Private) Limited, increasing the amount from Rs. 8 billion to Rs. 10 billion. Similarly, a renewal of a Rs. 2 billion loan to M/s. Hudson Pharma (Private) Limited was approved, alongside an increase in financial assistance to Rs. 2 billion.
The Board was also authorized to enhance its equity investment in M/s. Bisconni Middle East Manufacturing LLC, Abu Dhabi, from a PKR equivalent of USD 15 million to USD 25 million. Furthermore, the provision of financial assistance through a corporate cross guarantee was increased from AED 80 million to AED 100 million.
According to information available from the Pakistan Stock Exchange (PSX), these strategic financial resolutions reflect Ismail Industries Limited's commitment to strengthening its financial framework and expanding its operational capabilities.
Additionally, the company approved extending intercompany loans or financial assistance up to PKR 2 billion each to its associates, M/s. Allume Solar Company (Private) Limited and M/s. Ismail Global SMC (Private) Limited. These provisions include loans, advances, and corporate cross guarantees, among other financial instruments, valid for a one-year period with options for renewal.
The resolutions also empower key company officers, including the Chief Executive Officer, Chief Financial Officer, and Company Secretary, to execute necessary documents and actions to implement these decisions and fulfill all requisite legal formalities.