Karachi: Idrees Textile Mills Limited has announced a series of strategic decisions aimed at boosting its profitability, following a board meeting held on June 1, 2026. The decisions, disclosed under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange Limited Rule Book, include shifting towards value-added products and expanding into new business areas.
The company plans to replace certain machinery to facilitate its transition towards value-added products. Additionally, it intends to utilize available surplus space by expanding into warehousing, logistics, and supply chain management services. These measures are designed to enhance the company’s profitability, strengthen cash flows, and improve its financial position, thereby ensuring sustainable growth and increased returns for stakeholders.
According to information available from the Pakistan Stock Exchange (PSX), these strategic moves are subject to shareholder approval under sections 134 and 183 (3) of the Companies Act, 2017, along with other necessary corporate formalities.
The decisions will be further elaborated upon in a notice for an extraordinary general meeting, scheduled for June 27, 2026, to be issued separately to inform the TRE certificate holders.