⚡ Flash Summary
Reliance Cotton Spinning Mills Limited held its 36th Annual General Meeting on October 27, 2025, where shareholders approved the audited financial statements for the year ended June 30, 2025. A final cash dividend of 60% (Rs. 6 per share) was approved. Shinewing Hameed Chaudhri & Co. were reappointed as statutory auditors for the year ending June 30, 2026. The resolutions also ratified related party transactions and authorized the board to approve future transactions on a case-to-case basis, subject to shareholder approval at the next AGM.
📌 Key Takeaways
- 🗓️ AGM held on October 27, 2025.
- ✅ Minutes of previous meetings confirmed (October 28, 2024, and April 22, 2025).
- 💰 Audited Financial Statements for the year ended June 30, 2025 approved.
- 💸 Final cash dividend of 60% (Rs. 6 per share) approved for FY2025.
- 🧑💼 Shinewing Hameed Chaudhri & Co. reappointed as auditors for FY2026.
- 📅 Auditor remuneration to be determined by the Chief Executive.
- 🤝 Related party transactions disclosed in Note 37 ratified.
- 👍 Board authorized to approve related party transactions on a case-to-case basis for FY2026.
- 📜 Board-approved transactions to be placed before shareholders at the next AGM.
- 🏢 Meeting held at Trading Hall, Cotton Exchange Building, Karachi at 12:15 pm.
- 🔒 Resolutions passed in accordance with Section 208 of the Companies Act, 2017.
🎯 Investment Thesis
HOLD. The declaration of a 60% dividend and the reappointment of auditors indicates stability. However, a comprehensive financial analysis is required to determine if Reliance Cotton Spinning Mills is undervalued or overvalued. Without a price target, it’s a HOLD recommendation.
Disclaimer: AI-generated analysis. Not financial advice.