Lahore: Saif Textile Mills Limited convened its Annual General Meeting on Tuesday, October 27, 2026, where members passed several resolutions concerning the company's financial statements, auditor appointments, and related party transactions.

During the ordinary business session, members of the company approved the Annual Audited Financial Statements for the fiscal year ending June 30, 2026. The statements, accompanied by the Chairman's Review Report and the Directors' and Auditors' reports, received the necessary consideration and adoption from the board.

In another key resolution, the firm reappointed M/s Shinewing Hameed Chaudhri & Co., Chartered Accountants, as the external auditors. The auditors will continue their role until the next Annual General Meeting, with their fees to be determined by the Chief Executive Officer.

The meeting also addressed special business matters, authorizing the company to share common expenses with M/s Kohat Textile Mills Limited and other associated companies. These shared expenses encompass office rents, administrative salaries, utility expenses, and other administrative costs. According to information available from the Pakistan Stock Exchange (PSX), the transactions related to these expenses for the year ending June 30, 2026, were ratified and approved by the members.

Furthermore, the Chief Executive of Saif Textile Mills Limited received authorization to execute and approve all related party transactions in the ordinary course of business for the upcoming fiscal year ending June 30, 2027. This includes the authority to undertake necessary actions and sign requisite documents on behalf of the company.