Lahore: Dost Steels Limited has announced that its Annual General Meeting (AGM) will be conducted on October 28, 2025, at 9:00 a.m., at the Al-Hafeez Tower located on M.M. Alam Road, Lahore. The gathering aims to cover several key agenda items, including the confirmation of last year's AGM minutes, the adoption of the audited financial statements for the fiscal year ending June 30, 2025, and the appointment of auditors for the upcoming financial year.
The company has also introduced a special resolution to increase its authorized share capital from PKR 4.45 billion to PKR 13.06 billion. This significant increase, as outlined in the meeting notice, will involve amending the relevant clauses in the company's Memorandum and Articles of Association to accommodate the new capital structure.
Dost Steels Limited's financial performance for the year ending June 30, 2025, marked a substantial turnaround, with a reported profit after tax of PKR 302.46 million compared to a loss of PKR 242.24 million in the previous year. This reversal in fortunes was primarily driven by a revaluation surplus of PKR 5.84 billion on its property, plant, and equipment, as well as a significant increase in other operating income. According to information available from the Pakistan Stock Exchange (PSX), the company's earnings per share rose to PKR 0.68 from a loss per share of PKR 0.65 in the previous year, indicating a big move in financial performance.
The company's directors' report further highlights successful negotiations for restructuring long-term loans with syndicate banks, including a down payment of PKR 50 million as part of the agreement. This financial restructuring, coupled with a revaluation exercise carried out by Sadruddin Associates (Pvt.) Limited, has significantly enhanced the net worth of the company, positioning it more robustly for future operations.
In a strategic move to meet working capital requirements and further integrate backward processes, the company plans to issue additional capital amounting to PKR 4.45 billion through the issuance of new shares. These shares will be offered to existing shareholders in proportion to their current holdings.
The AGM will also address other business matters, with shareholders having the option to participate through electronic means. The company has made provisions for e-voting and postal ballots in compliance with regulatory requirements, ensuring shareholder engagement across different platforms.
Dost Steels Limited remains optimistic about its future prospects, driven by anticipated improvements in the construction sector and continued support from its stakeholders. The upcoming AGM will provide a platform for shareholders to discuss these developments and vote on critical resolutions that will shape the company's strategic direction in the coming year.