Karachi: Tata Textile Mills Limited has announced the convening of its 40th Annual General Meeting (AGM) on October 27, 2026, at 1:30 p.m. The meeting will be held at the Pakistan Stock Exchange's Dr. Shamshad Akhtar Auditorium, housed within the PSX Administration Building on I.I. Chundrigar Road, Karachi. The event will also be accessible via video link, enabling broader participation.
The AGM will address several key items of business, both ordinary and special. Among the ordinary business, shareholders will review and consider the adoption of the company's Annual Audited Financial Statements for the fiscal year ending June 30, 2026. These documents include the Directors' and Auditor's Reports and the Chairman's Review Report. Additionally, the appointment and remuneration of statutory auditors will be determined. The Board, along with the Board Audit Committee, has recommended the reappointment of M/s Yousuf Adil, Chartered Accountants, to this role.
Another significant agenda item is the election of seven directors for a three-year term, as mandated by Sections 159(1) and 161(1) of the Companies Act, 2017. The current directors, Mr. Mazhar Valjee, Mr. Shahid Anwar, Mr. Adeel Shahid Anwar, Mr. Bilal Shahid Anwar, Mr. Farooq Advani, Mr. Tayyeb Afzal, and Ms. Samar Shahid, all stand eligible for re-election.
A 50% final cash dividend, equating to Rs. 5.00 per share, is proposed for approval for the year ending June 30, 2026, as recommended by the Board of Directors.
The AGM will also address special business matters. Shareholders are expected to ratify and approve transactions with related parties as disclosed in the financial statements for the year ending June 30, 2026. The Board of Directors seeks authorization to approve potential related party transactions for the 2026-27 fiscal year, subject to subsequent shareholder ratification.
According to information available from the Pakistan Stock Exchange (PSX), the meeting will also provide shareholders the opportunity to discuss other business matters, contingent on the Chairman's permission. Statements of Material Facts related to the special business and the election of directors are annexed for shareholder review.
The designated market category for Tata Textile Mills Limited remains focused on textiles, with prominent involvement in the regional and international textile markets.