Azgard Nine Limited held its 27th Annual General Meeting on Wednesday, 28 October 2020, at 11.00 am at its registered office, Ismail Aiwan-i-Science, Lahore.
Shareholders confirmed the minutes of the 26th AGM of 28 October 2019, considered the audited financial statements for the year ended 30 June 2020, and considered the re- appointment of Deloitte Yousuf Adil as statutory auditors. It had been a year shaped by the pandemic: production paused in April 2020 and restarted within weeks. In April the company also raised Rs365 million through a right issue. On the day of the meeting, it reported first- quarter FY2021 results with sales up 24 percent and profit after tax of Rs219 million.
Key facts
- Meeting27th AGM, 28 October 2020, 11.00 am, Lahore
- FY2020 net salesRs16,909 million
- Right issueRs365 million received, April 2020
- Q1 FY2021sales up 24%; profit after tax Rs219 million
The quick recovery reflected the strength of Azgard9's relationships with brand partners around the world.
