⚡ Flash Summary

Millat Tractors Limited (MTL) held its 62nd Annual General Meeting on October 24, 2025, where resolutions were passed including the approval of financial statements for the year ended June 30, 2025. A final cash dividend of Rs. 15.00 per share (150%) was approved, in addition to an interim dividend of Rs. 45.00 per share (450%) already paid, resulting in a total dividend of Rs. 60.00 per share (600%). A.F. Ferguson, Chartered Accountants, Lahore were appointed as auditors for the year ending June 30, 2026. Transactions with subsidiary/associated companies were ratified and the Chief Executive was authorized to approve future transactions with these entities.

📌 Key Takeaways

• ✅ AGM: 62nd Annual General Meeting held on October 24, 2025.
• 💰 Dividend: Final cash dividend of Rs. 15.00 per share (150%) approved.
• 💸 Total Dividend: Cumulative dividend of Rs. 60.00 per share (600%).
• 🧾 Financials: Audited financial statements for the year ended June 30, 2025, adopted.
• 👨‍💼 Auditor Appointment: A.F. Ferguson appointed as auditors for the year ending June 30, 2026.
• 🏢 Audit Fee: Audit fee set at Rs. 5,280,000 for the year ending June 30, 2026.
• 📊 Review Fee: Half-year review report fee at Rs. 1,210,000.
• 📜 Other Fees: Special reports and trademark verification fees at Rs. 330,000 each.
• 🤝 Related Party Transactions: Transactions with subsidiaries/associated companies ratified.
• ✔️ Approval Authority: CEO authorized to approve transactions with subsidiaries.
• 📦 Component Purchases: Purchases from TIPEG Intertrade DMCC: Rs. 411,202,941.
• 🏭 Component Purchases: Purchases from Millat Industrial Products Limited: Rs. 358,516,691.
• 🔩 Component Purchases: Purchases from Bolan Castings Limited: Rs. 1,717,825,523.
• 🏢 Registered Office: Meeting held at 9 K.M Sheikhupura Road, Shahdara, Lahore.

🎯 Investment Thesis

Based on the information provided, a HOLD recommendation is appropriate. The company has demonstrated strong financial performance by approving a substantial dividend. Further analysis of the company’s financial statements is necessary to determine whether to upgrade to a BUY or downgrade to a SELL. A price target cannot be determined without further financial information. Time horizon: Medium Term.