Karachi: Shahmurad Sugar Mills Limited has successfully conducted its 46th Annual General Meeting on January 28, 2025, where shareholders unanimously passed several significant resolutions. The meeting, held at the company's registered office, marks another milestone in the company's commitment to transparency and efficient corporate governance.

The shareholders confirmed and approved the minutes of the previous 45th Annual General Meeting held on January 25, 2024. This confirmation serves as a testament to the company's adherence to procedural integrity and record-keeping.

A crucial part of the meeting was the approval of the audited financial statements for the fiscal year ended September 30, 2024. The shareholders reviewed the Directors' and Auditors' reports, which provided insights into the company's financial health and operations, and expressed their satisfaction by approving the documents.

In line with the company's strategic financial oversight, the shareholders appointed M/s. Kreston Ilyder Bhimji and Co. Chartered Accountants as the statutory auditors for the upcoming financial year 2024-2025. This decision ensures continued adherence to high auditing standards and transparent financial reporting.

On the agenda for special business, the shareholders ratified and approved related party transactions as disclosed in Note No. 37 of the audited financial statements. This ratification highlights the company's commitment to ethical business practices and transparency in dealings with related parties.

Moreover, the Board of Directors has been authorized to approve all related party transactions for the financial year ending September 30, 2025. These transactions, crucial for the company's operations, will be presented to shareholders in the next AGM for formal ratification and approval.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions align with the company's strategic goals and regulatory compliance, demonstrating its dedication to maintaining robust governance structures.

The resolutions passed in the 46th Annual General Meeting reflect Shahmurad Sugar Mills Limited's ongoing efforts to ensure sound financial practices and strengthen shareholder confidence, maintaining its reputable standing within the designated market category.