⚡ Flash Summary

The document summarizes the resolutions adopted at Thatta Cement Company Limited’s Annual General Meeting held on October 7, 2025. Key decisions include confirmation of the minutes from the Extra Ordinary General Meeting, approval of the annual audited financial statements (both unconsolidated and consolidated) for the year ended June 30, 2025. Additionally, the re-appointment of M/s. BDO Ebrahim & Co. as external auditors for the year ending June 30, 2026, was approved. The company also secured approval to provide loans/advances of up to PKR 750 million each to its subsidiaries, Thatta Power (Private) Limited (TPPL) and Minsk Work Tractor & Assembling (Private) Limited (MTWPL), to meet financial obligations and working capital requirements.

📌 Key Takeaways

• ✅ Minutes of the Extra Ordinary General Meeting held on May 29, 2025, were confirmed.
• 👍 Annual Audited Unconsolidated Financial Statements for the year ended June 30, 2025, were approved without modification.
• 📈 Annual Audited Consolidated Financial Statements for the year ended June 30, 2025, were also approved without modification.
• 👨‍💼 M/s. BDO Ebrahim & Co. were re-appointed as external auditors for the year ending June 30, 2026.
• 💰 Up to PKR 750 million loan/advance approved for Thatta Power (Private) Limited (TPPL).
• 🚜 Another loan/advance of up to PKR 750 million approved for Minsk Work Tractor & Assembling (Private) Limited (MTWPL).
• 🏢 Investments are intended to meet financial obligations and working capital needs of subsidiaries.
• ✍️ The Chief Executive Officer (or authorized person) is empowered to execute necessary actions and documents for the investments.
• 📜 All resolutions passed are in accordance with the Companies Act, 2017.
• 🗓️ The AGM occurred on October 7, 2025, indicating timeliness in corporate governance.
• 🤝 Subsidiaries involved are Thatta Power (Private) Limited and Minsk Work Tractor & Assembling (Private) Limited.

🎯 Investment Thesis

Given the limited financial information and the neutral nature of the announcement, a HOLD recommendation is appropriate. The investment decisions regarding the subsidiaries are significant, but their financial impact needs to be evaluated based on future performance. Without clear metrics, the potential returns and risks are uncertain. A price target cannot be established without a thorough financial analysis. The time horizon for re-evaluating the recommendation depends on the availability of financial data and the performance of the subsidiaries.