⚡ Flash Summary

Service Industries Textiles Ltd. held its 64th Annual General Meeting on October 28, 2025. Key resolutions included confirming the minutes of the previous AGM held on October 28, 2024, and approving the annual audited accounts for the year ended June 30, 2025. The company reappointed M/s Crowe Hussain Chaudhury & Co. as statutory auditors for the year ending June 30, 2026. Seven directors were elected for a three-year term commencing October 31, 2025.

📌 Key Takeaways

• 🗓️ The 64th Annual General Meeting (AGM) took place on October 28, 2025.
• ✅ Minutes from the 63rd AGM held on October 28, 2024, were confirmed.
• 📜 Annual audited accounts for the year ended June 30, 2025, were approved.
• 👨‍💼 Directors’ and Auditors’ Reports were adopted.
• 🧑‍💼 M/s Crowe Hussain Chaudhury & Co. were appointed as statutory auditors for the year ending June 30, 2026.
• 🤝 The retiring auditor, M/s Horwath Hussain Chaudhury & Co., offered themselves for reappointment but were replaced.
• 🏢 The new statutory auditors will comply with clause (32) of the Code of Corporate Governance.
• 🗳️ Seven directors were elected as per the provisions of section 159(1) of the Companies Act, 2017.
• 📅 The term for the elected directors commences on October 31, 2025, lasting three years.
• 👥 Retiring directors included Mr. Aamer Hameed, Mr. Mohammad Hameed, Mr. Tariq Hameed, Mr. Omar Mohyud Din Malik, Mrs. Sadia Hamid, Mr. Murtaza Hameed, and Mrs. Zainab Khan.
• 🙋 Candidates consenting to act as directors included Mr. Aamer Hameed, Mr. Mohammad Hameed, Mr. Tariq Hameed, Mr. Murtaza Hameed, Mrs. Sadia Hamid, Mr. Usman Hamid Malik, and Mrs. Sara Aqeel.
• ✅ The resolution to elect the directors was passed unanimously.

🎯 Investment Thesis

Based on the AGM resolutions, a HOLD recommendation is appropriate. The announcement does not provide sufficient information to adjust the price target. The key takeaway is that the company is maintaining corporate governance standards. More financial information would be needed to change this view.