Karachi: Al Shaheer Corporation Limited has announced that its 11th Annual General Meeting (AGM) will be held on September 25, 2025, at Hotel Galaxy Bushra Hall in Karachi. The agenda includes the approval of the audited financial statements for the year ending June 30, 2025, the appointment of auditors, and the ratification of related party transactions.
The company, primarily engaged in the processing, packaging, and marketing of halal meat products, reported significant financial losses for the fiscal year 2025. The net revenue decreased, resulting in a substantial net loss after tax. The financial downturn is attributed to the suspension of core operations throughout the year, with minimal activity confined to tolling operations.
According to information available from the Pakistan Stock Exchange (PSX), Al Shaheer Corporation experienced a very large or significant move in its financial performance compared to the previous year. The company remains in default on its financing arrangements, and negotiations with banks and financial institutions are ongoing.
A reconstitution of the Board of Directors took place following significant changes in board composition during the year. This included the resignation of the last serving director in October 2024 and a subsequent election in December 2024. Recent resignations and appointments of directors in July 2025 were made to maintain board requirements.
Al Shaheer’s operational challenges are compounded by high fixed costs despite the suspension of operations. The board is working towards establishing internal controls and compliance with its financing agreements. Shareholders will also consider the reappointment of M/s. Grant Thornton Anjum Rahman, Chartered Accountants, as auditors for the next fiscal year.
The pattern of shareholdings as of June 30, 2025, reflects a diverse shareholder base, with a total of 4967 shareholders holding 374.92 million shares. The upcoming AGM will provide a platform for addressing the company’s financial strategy and governance moving forward.