Idrees Textile plans shift to value-added products, eyes warehousing and logistics business

Idrees Textile Mills Limited has announced plans to diversify its operations and upgrade production facilities as part of a strategy aimed at improving profitability, cash flows and its overall financial position.

In a notice submitted to the Pakistan Stock Exchange (PSX), the company said its Board of Directors, at a meeting held on June 1, 2026, approved a series of strategic initiatives designed to enhance earnings and support long-term growth.

According to the disclosure, the company intends to replace certain machinery to facilitate a shift towards the production of higher-value-added textile products.

The board also approved plans to utilise available surplus space for the development of additional income streams. The proposed diversification includes expansion into warehousing, logistics and supply chain management services.

The company stated that the initiatives are intended to strengthen profitability, improve cash flows and enhance its financial position.

Idrees Textile said the proposed measures are expected to support sustainable growth and improve returns for shareholders and other stakeholders.

The company noted that implementation of the plans remains subject to shareholder approval under Sections 134 and 183(3) of the Companies Act, 2017, as well as the completion of other corporate and regulatory formalities.

To seek the required approvals, the company will convene an Extraordinary General Meeting (EGM) on June 27, 2026. Detailed information regarding the proposed initiatives will be provided through the EGM notice to be issued separately.