Karachi: Habib Sugar Mills Limited held its Sixty Fourth Annual General Meeting on January 27, 2026, where several key resolutions were passed, setting the course for the company’s future operations. The meeting was conducted in accordance with Clause 5.6.9(b) of the Pakistan Stock Exchange Regulations.
The shareholders approved the audited financial statements for the fiscal year ending September 30, 2025. This approval also included the Chairman's report, Directors' report, and the Auditors' report. The acceptance of these statements marks an essential step in maintaining transparency and accountability for the company's financial performance.
A significant resolution was the authorization of a final cash dividend of 120%, equating to Rs. 6 per ordinary share of Rs. 5 each, for the year ended September 30, 2025. This decision reflects the company’s commitment to delivering value to its shareholders.
The appointment of M/s. Grant Thornton Anjum Rahman, Chartered Accountants, as the statutory auditors for the year ending September 30, 2026, was confirmed. Their remuneration will be determined through mutual agreement, ensuring that the company continues to comply with legal and financial scrutiny.
The election of directors was another focal point of the meeting, with Messrs. Asghar D. Habib, Murtaza Habib, Hasnain Habib, Ghias Uddin Khan, Asif Parekh, Muhammad Salman Husain Chawala, and Ms. Tyaba Muslim Habib elected to serve on the board for the next three years, commencing January 27, 2026. This selection brings continuity and leadership stability to the governance of the company.
In addition, the remuneration for Executive Director Mr. Murtaza Habib was approved, which includes a monthly salary of Rs. 1,488,000. Additional benefits, estimated at approximately 40% of his stated remuneration, include company-maintained vehicles, utility reimbursements, and entertainment expenses.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions align with the company’s strategic objectives and operational commitments. The PSX listing enhances the company's market presence and investor confidence.
These strategic decisions underscore Habib Sugar Mills Limited's dedication to maintaining strong governance structures and ensuring shareholder returns, while positioning itself for continued growth in the upcoming fiscal year.