Karachi: Ghandhara Industries Limited has officially passed resolutions during its 61st Annual General Meeting, held on October 24, 2024, at its headquarters in Karachi, confirming the adoption of its annual financial statements and the reappointment of its auditors for the upcoming fiscal year.

The company confirmed the approval of the financial statements for the year ended June 30, 2024, which were reviewed alongside the Chairman's Review, and the Directors' and Auditors' reports. These documents collectively received the green light from the members present, signifying a solid consensus on the company's financial health and governance.

In a subsequent move, the shareholders approved the reappointment of ShineWing Hameed Chaudhri and Co. as the company's auditors for the next fiscal year ending June 30, 2025. The decision was based on recommendations from the Audit Committee and the Board of Directors, who cited satisfactory performance and compliance with regulatory standards as the basis for their continued partnership.

According to information available from the Pakistan Stock Exchange (PSX), this year's assembly underscored Ghandhara Industries' commitment to transparency and adherence to corporate governance norms, as mandated under regulation 5.6.9(b) of the PSX's Rule Book. The resolutions, circulated among the TRE certificate holders of the exchange, reflect the company's strategic intent to maintain rigorous financial oversight and shareholder communication.

These developments come as Ghandhara Industries continues to navigate the competitive automotive manufacturing sector, where such disclosures and regular audits are critical for maintaining investor confidence and market stability.