Karachi: Bawany Air Products Limited (BAPL) is set to hold its 47th Annual General Meeting on November 27, 2025, at the company’s office in Karachi, as announced in the company’s notice. Key items on the agenda include the adoption of the audited financial statements for the fiscal year ending June 30, 2025, and the election of seven directors for a three-year term, replacing the current board members eligible for re-election.

In 2025, BAPL transitioned its core business from gas manufacturing to investment and securities, a strategic decision that aligns with its agreement to acquire 100% of Alman Seyyam Sugar Mills (ASSML). This shift in focus was marked by an increase in authorized capital to PKR 11 billion, with ASSML’s 10,000 MT/day sugar plant expected to deliver dividends and enhance shareholder value.

According to information available from the Pakistan Stock Exchange (PSX), BAPL has been removed from the non-compliant counter and restored to the normal trading counter, signifying a significant achievement for the company. Despite this progress, BAPL reported a net loss of Rs. 54.049 million for the fiscal year, compared to a loss of Rs. 22.623 million in the previous year. This increase in net loss is attributed primarily to the regulatory fee paid for the enhancement of authorized capital.

The company’s financial reports indicate substantial growth in current assets, which soared from Rs. 30.58 million in 2024 to Rs. 3.18 billion in 2025, while current liabilities decreased to Rs. 5.37 million from Rs. 6.52 million in the previous year. The net decrease in cash and cash equivalents amounted to Rs. 19.19 million.

BAPL’s board of directors experienced changes during the year, with new members including Ms. Saba Azam and Mr. Muhammad Ali. The audit for the fiscal year was completed by M/s Naveed Zafar Ashfaq Jaffery, Chartered Accountants, who are set to retire at the conclusion of the AGM. The Audit Committee has recommended the appointment of M/s Mushtaq & Co., Chartered Accountants, as the new auditors for the next fiscal year.

The company has arranged for members to participate in the general meeting via electronic means, and detailed instructions for e-voting and postal ballots have been shared with shareholders. The financial statements and additional meeting details are available on the company’s website.