KARACHI: Panther Tyres Limited, the leading manufacturing company of tyres and tubes for earth mover/otr, tractor, trolley, motor bikes and commercial vehicle in Pakistan, held its 38th Annual General Meeting (AGM), 1st after IPO, at Faletti's Hotel, Lahore.

The general meeting was chaired by the Board Chairman Mian Iftikhar Ahmed. CEO Mian Faisal Iftikhar, other board members, company secretary and CFO were also present in the general meeting.

The shareholders appreciated the company's performance in FY 2020-21. The company's Profit after Tax during FY 2020-21 was 851.26 million. During the session, the shareholders also approved the company's accounts along with a final cash dividend of Rs 2 per share along with 20% bonus shares. Chairman of the company Mian Iftikhar Ahmed shed the light on current year financial performance and shared initiatives taken to combat the challenges faced by tyre industry of Pakistan. The Chairman, Mian Iftikhar Ahmed also thanked the shareholders for attending the AGM and expressed gratitude for their valuable guidance to the company.

During the session, questions raised by the shareholders were appropriately answered by CFO and the board. The suggestions made by the shareholders were acknowledged and they were assured that the management will follow the best corporate practices to continuously maximize the returns to its shareholders. -PR

Copyright Business Recorder, 2021