Lahore: Shahzad Textile Mills Ltd. conducted its Annual General Meeting on October 28, 2026, at its registered office in Lahore. During the meeting, shareholders passed resolutions concerning both ordinary and special business matters.

On October 30, 2026, the company reported that shareholders approved the audited financial statements for the fiscal year ending June 30, 2026. The approval included the Chairman's Review Report, Directors', and Auditors' Report. This adoption signifies a critical step in financial transparency and governance for the textile manufacturer.

In another resolution, M/s Crowe Hussain Chaudhury & Co., Chartered Accountants, were appointed as the company's auditors until the next Annual General Meeting. The Chief Executive Officer was granted the authority to negotiate and finalize the remuneration for the auditors.

The meeting also addressed special business transactions with related parties. These transactions, conducted on an arm's length basis, included the purchase of Twine Jute 20/3 from Sargodha Jute Mills Ltd. for 116.54 million rupees, sales of Hard Waste PC amounting to 6.62 million rupees, and the sale of investment property for 172.00 million rupees. Additionally, the company made a contribution of 205.19 million rupees to the STM-Provident Fund. Rent-free office premises were also provided to Mr. Imran Aslam, with no monetary transaction involved.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions and transactions align with the company's strategic objectives in the textiles market category, reflecting its commitment to maintaining robust financial practices and transparent operations.