Karachi: Al Shaheer Corporation Limited has scheduled its 10th Annual General Meeting (AGM) for September 25, 2025, at Hotel Galaxy Bushra Hall in Karachi. The announcement comes as the company seeks to address significant financial challenges highlighted in its latest financial statements.

The AGM’s agenda includes the confirmation of minutes from previous meetings, approval of the audited financial statements for the year ending June 30, 2024, and the re-appointment of M/s Grant Thornton Anjum Rahman as the company’s auditors. Special business items include ratification of transactions with related parties for the past fiscal year and authorization for future related party transactions.

Al Shaheer Corporation reported substantial financial losses for the year ended June 30, 2024. The unconsolidated statement of profit or loss reveals a net loss of 3.51 billion rupees, a very large or significant move compared to the previous year’s loss. The company’s turnover was sharply reduced, while operating losses widened significantly. Administrative and distribution costs further exacerbated the financial strain. According to information available from the Pakistan Stock Exchange (PSX), Al Shaheer’s financial figures have underscored a challenging period for the company.

The company’s financial position as of June 30, 2024, details assets amounting to 9.35 billion rupees, with a notable balance of current liabilities. The equity and liabilities structure shows an increase in short-term borrowings and long-term financing, indicating a reliance on external funding sources.

Al Shaheer Corporation’s mission emphasizes delivering high-quality food products while adhering to Shariah compliance and maintaining rigorous standards of health and hygiene. Despite the current financial difficulties, the company aims to continue its commitment to consumer satisfaction and ethical practices.

The meeting will also address procedural elements such as attendance requirements, video conferencing facilities, and the conversion of physical shares into the Central Depository System (CDS) as mandated by regulatory authorities.

Shareholders are encouraged to participate in the voting process, which includes provisions for electronic voting and postal ballots. This aims to ensure comprehensive shareholder engagement in critical decision-making processes at the upcoming AGM.