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BSRM Steels approves 15pc cash dividend

December 27, 2020 00:00:00

BSRM Steels Limited Chairman Alihussain Akberali FCA, presided over the 18th Annual General Meeting of the company on a digital platform recently

The 18th Annual General Meeting of BSRM Steels Limited was held recently on a digital platform, says a statement.

The meeting was presided over by Alihussain Akberali FCA, Chairman of the Company.

The chairman welcomed all shareholder to the 18th Annual General Meeting. In his welcoming speech, he stated that the company could not achieve expected profit due to the Covid-19 pandemic.

However, the company could avoid major losses by efficient operational and financial management. He also praised various government initiatives like sanction of stimulus packages at the interest rate of 4.5 per cent for corporate houses which supportedthem in this adverse situation.

Audited Accounts for the financial year 2019-20 along with the Report of the Board of Directors were approved in the meeting.

Shareholders of the company attended virtually the meeting, approved the appointment of Directors, Professional Accountant & Auditors for the year 2020-21.

Managing Director of the company presented the Report of the Board of Directors and discussed various important issues of the company.

Fifteen per cent (15%) cash dividend and inter-company loan were approved unanimously by the shareholders in the meeting.

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