Karachi: In a series of decisive actions taken at its 37th Annual General Meeting held on October 8, 2025, Ismail Industries Limited ratified several resolutions aimed at enhancing its strategic business operations and financial standing. The resolutions were certified by the Company Secretary and align with the stipulations of the Rule Book of the Pakistan Stock Exchange.
The ordinary business session of the meeting commenced with the approval of the minutes from the previous year’s meeting held on October 9, 2024. Following this, the members approved the annual audited financial statements for the year ending June 30, 2025, along with the accompanying Directors’ and Auditors’ Reports. A final cash dividend of 50%, equivalent to Rs. 5 per share, was sanctioned for disbursement as recommended by the Board of Directors.
Further, the shareholders reappointed M/s. Grant Thornton Anjum Rahman as the auditors for the financial year ending June 30, 2026, authorizing the Board to determine their remuneration. The election of directors was confirmed, as the number of candidates matched the required positions, eliminating the need for a formal voting process.
In the realm of special business, the meeting ratified transactions with related parties for the year ending June 30, 2025, and authorized the Board to continue these dealings on a case-by-case basis for the following financial year. Notably, the company has committed to enhancing its long-term equity investment in its subsidiary, Ismail Resin (Private) Limited, by Rs. 2 billion for strategic growth.
According to information available from the Pakistan Stock Exchange (PSX), the company will also extend financial assistance to Ismail Resin by Rs. 6 billion and renew an intercompany loan amounting to Rs. 8 billion. Additionally, the financial arrangement with Hudson Pharma (Private) Limited was increased from Rs. 1.5 billion to Rs. 2 billion.
Further resolutions included renewing a loan for Innovita Nutrition (Private) Limited at Rs. 1 billion and boosting investment in Bisconni Middle East Manufacturing LLC from USD 10 million to USD 15 million, alongside providing a Corporate Cross Guarantee of AED 80 million to secure its banking facilities.
In a strategic expansion move, Ismail Industries authorized the establishment of a wholly owned subsidiary in Spain, with an investment of USD 500,000, reflecting the company’s commitment to expanding its international footprint. The Chief Executive Officer, Chief Financial Officer, and Company Secretary were empowered to execute all necessary legal and corporate formalities to implement these resolutions effectively.
The decisions taken at the Annual General Meeting are poised to impact Ismail Industries Limited’s operations significantly, marking an ambitious phase of growth and strategic realignment in the coming fiscal year.