Lahore: Shareholders of Rupali Polyester Limited convened for their 46th Annual General Meeting on October 27, 2026, at Rupali House, Lahore, where they passed several resolutions pivotal for the company's forthcoming fiscal activities.
During the meeting, the minutes from the previous year's meeting held on October 27, 2025, were confirmed by the shareholders, ensuring continuity and transparency in the company's governance.
In a significant move, the shareholders received and adopted the audited financial statements for the fiscal year ending June 30, 2026. The approval also included the Directors' and Auditors' Reports, providing a comprehensive view of the company's financial health.
The appointment of M/s. RSM Avais Hyder Liaquat Nauman as the external auditors for the 2026-27 fiscal year was confirmed. Their remuneration will be determined by the Audit Committee and the Board of Directors, underscoring the company's commitment to maintaining rigorous financial oversight.
Addressing special business, the shareholders ratified transactions with associated companies amounting to significant financial exchanges. Transactions with Rupafil Limited included purchases and sales worth 1.08 billion and 1.40 billion rupees, respectively, alongside payments and receipts totaling 443.88 million and 455.77 million rupees. Additionally, Soneri Bank Limited accrued a profit of 5,692 rupees from bank deposits, while ALNU Trust engaged in loan transactions involving 55,000 rupees obtained and 545,000 rupees repaid.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions reflect the strategic financial operations and affiliations of Rupali Polyester Limited, positioning it to navigate the complexities of the textile market efficiently.
Furthermore, the Chief Executive Officer was authorized to approve future transactions with related parties for the fiscal year ending June 30, 2027, subject to shareholder ratification at the subsequent general meeting, ensuring continued shareholder engagement in corporate decision-making.