⚡ Flash Summary

Nadeem Textile Mills Limited has announced a proposed change in their statutory auditors. A shareholder has proposed M/S Naveed Zafar Ashfaq Jaffery & Co., Chartered Accountants, Karachi, to replace the current auditors, M/s Rahman Sarfaraz Rahim Iqbal Rafiq, Chartered Accountants, Karachi. This change will be voted on at the upcoming Annual General Meeting scheduled for November 27th, 2025. The proposed change is for the fiscal year ending June 30th, 2026.

📌 Key Takeaways

• 📢 Nadeem Textile Mills proposes changing statutory auditors.
• 🗓️ Proposal received as per Section 246(3) of Companies Act, 2017.
• 📅 Letter dated 12-11-2025 initiates auditor change.
• 👤 Current auditor: M/S Rahman Sarfaraz Rahim Iqbal Rafiq.
• 🆕 Proposed auditor: M/S Naveed Zafar Ashfaq Jaffery & Co.
• 🏢 Both firms are Chartered Accountants in Karachi.
• ⏳ Change effective for the year ending June 30th, 2026.
• 🤝 Change to be voted on at the Annual General Meeting.
• 📅 AGM scheduled for November 27th, 2025.
• 📍 AGM location: Not specified in the announcement.

🎯 Investment Thesis

HOLD. The announcement is a procedural update on a change in auditors. Until there is clear evidence that this change will impact the company’s financial performance or strategic direction, a neutral HOLD rating is appropriate. The change itself doesn’t offer sufficient rationale for a BUY or SELL recommendation.