Peshawar: Saif Textile Mills Limited (the Company) has issued a notice for its 36th Annual General Meeting (AGM), scheduled for Friday, October 24, 2025, at 12:00 Noon. The meeting will take place at the Company's registered office, APTMA House Tehkal Payan, Jamrud Road, Peshawar. Shareholders will attend to confirm previous AGM minutes, review the annual audited financial statements, and appoint auditors for the fiscal year ending June 30, 2026.
The Company's Board of Directors, upon the Audit Committee's recommendation, has proposed the re-appointment of M/s Shinewing Hameed Chaudhri & Co., Chartered Accountants, as external auditors. Additionally, a special resolution will be considered to authorize transactions involving shared administrative expenses with associated companies, notably M/s Kohat Textile Mills Limited.
According to information available from the Pakistan Stock Exchange (PSX), Saif Textile Mills Limited reported a turnover of Rs. 11.6 billion for the fiscal year ending June 30, 2025, marking a 5% decline due to reduced production volumes amidst rising gas tariffs. Despite a reduction in operating expenses and finance costs, the Company recorded a post-tax loss of Rs. 388 million.
The Company's entity rating remains at A- for the long term and A2 for the short term, as affirmed by the Pakistan Credit Rating Agency Limited (PACRA), with a stable outlook. The Company holds several ISO certifications and is actively pursuing new certifications to enhance its operational standards.
A notable development is the Company's initiative to install a 10 MW solar power plant, expected to be operational by December 2025, which aims to significantly reduce power costs. Additionally, a biomass boiler has been commissioned to improve energy efficiency and sustainability.
Saif Textile Mills Limited's Board of Directors has recommended no dividend distribution for the year ending June 30, 2025, focusing instead on leveraging growth opportunities and strengthening the balance sheet. The Company's commitment to corporate governance, as per the Securities and Exchange Commission of Pakistan's regulations, is emphasized in the Directors' Report, highlighting transparency and strategic planning.