Lahore: Zahidjee Textile Mills Limited has announced that its 36th Annual General Meeting (AGM) will take place on Tuesday, October 28, 2025, at 03:00 PM at the company’s office at 131-A, Upper Mall, Lahore. The meeting will address several key business matters, including the confirmation of minutes from the previous AGM held on October 26, 2024, the approval and adoption of the annual audited financial statements for the year ending June 30, 2025, and the appointment of auditors for the subsequent fiscal year.
The agenda for the AGM includes the appointment of RSM Avais Hyder Liaquat Nauman, Chartered Accountants, as auditors for the year ending June 30, 2026, subject to the approval of their remuneration. Shareholders will also discuss any other business permissible by the chair. The share transfer books will be closed from October 19, 2025, to October 26, 2025, inclusive, to determine entitlements for dividends and AGM attendance.
According to information available from the Pakistan Stock Exchange (PSX), the company reported a notable increase in sales for the fiscal year 2024-2025, rising 7.6% to Rs. 40,601 million from Rs. 37,741 million in the previous year. Despite challenges such as increased input costs and a sluggish yarn market, the company maintained a positive profit margin, with gross profits increasing to Rs. 2,673 million, accounting for 6.6% of sales compared to 5% the previous year.
The economic environment during the fiscal year 2025 was marked by global uncertainties, but the Pakistan economy showed signs of recovery. The International Monetary Fund (IMF) revised the global growth forecast to 3.0% for 2025. Domestically, Pakistan achieved its first annual current account surplus in 14 years and received a US$1 billion disbursement under the IMF’s Extended Fund Facility. The textile sector saw a rebound, particularly in value-added exports like knitwear and garments, while raw material exports such as cotton yarn faced declines.
Zahidjee Textile Mills faced formidable challenges due to a poor cotton crop and volatility in cotton prices. Despite the withdrawal of the Export Facilitation Scheme (EFS), which affected local spinners, the company achieved a bottom line profit of Rs. 1.4 billion. The company’s operating results showed a profit before taxation of Rs. 1,592 million, up from Rs. 592 million in the previous year, representing a Very large or significant move of 168.78%.
The meeting will also address mandatory compliance requirements, such as the submission of CNIC copies by individual shareholders and the encouragement for shareholders with physical shares to convert them to book-entry form. The company also offers a video conference option for shareholders holding an aggregate of 10% or more of shares.
Zahidjee Textile Mills Limited continues to implement strategic plans directed by its Board of Directors, focusing on modernizing and expanding production facilities to maintain growth. The Board has completed its annual self-evaluation, reporting satisfactory performance aligned with corporate governance standards. Financial statements and related reports have been made available on the company’s website for shareholder review prior to the AGM.