Karachi: Shahtaj Sugar Mills Limited has issued a notice to its shareholders for the upcoming 60th Annual General Meeting, scheduled to take place on January 28, 2026, at Beach Luxury Hotel, M.T. Khan Road, Karachi. The meeting will commence at 11:00 AM and will cover various ordinary and special business matters, as detailed in the company's recently released annual report for 2025.
The agenda for the meeting includes the confirmation of the minutes from the last Annual General Meeting held on January 27, 2025. Shareholders will also review and adopt the audited financial statements for the fiscal year ending September 30, 2025, along with the accompanying Auditor's and Director's reports. A highlight of the meeting will be the consideration and approval of a cash dividend of 12.5%, equating to Rs. 1.25 per share, as recommended by the company's directors.
In addition to the ordinary business, the shareholders will appoint auditors for the 2025-2026 period and set their remuneration. The current auditors, M/s. BDO Ebrahim & Company, Chartered Accountants, are eligible for reappointment and have expressed their willingness to continue in the role.
The special business section of the meeting will involve resolutions concerning transactions with related parties from October 1, 2024, to date. The company seeks ratification and approval for these transactions, alongside authorizing the Chief Executive Officer to approve future related-party transactions until the next Annual General Meeting.
According to information available from the Pakistan Stock Exchange (PSX), Shahtaj Sugar Mills Limited reported a revenue of Rs. 8.85 billion for the year ending September 30, 2025, slightly down from Rs. 8.82 billion in the previous year. The company achieved a gross profit of Rs. 859.39 million and a net profit of Rs. 32.68 million, resulting in an earnings per share of Rs. 2.72. The financial year saw a significant improvement in finance costs, decreasing to Rs. 373.51 million from the previous year's Rs. 644.72 million.
The company has also outlined its operational performance for the year, noting a sugarcane crushing volume of 591,293 metric tons, a decrease from the previous year's 679,859 metric tons. Sugar production totaled 53,681 metric tons, while molasses production reached 27,419 metric tons. The reduction in crushing volume was largely attributed to unfavorable weather conditions affecting crop yields and sugar recovery rates.
The sugar industry in Pakistan, ranked as the seventh largest globally, continues to face challenges related to fluctuating sugarcane availability, lower recovery rates, and rising input costs. The industry remains highly regulated, with government policies significantly impacting production, pricing, and trade.
Shareholders are advised that the company's register of members will be closed from January 20 to January 29, 2026, for the purpose of determining eligibility to attend and vote at the meeting. Transfers received by January 19, 2026, will be considered in time for registration.
This meeting provides an opportunity for shareholders to engage with the company’s leadership, review financial performance, and discuss strategic initiatives moving forward.