Bilal Fibres Limited is preparing for a significant transformation, with its board approving a rebrand to Zuma Resources Limited and a sizable boost to its authorized share capital. The changes, disclosed in a filing to the Pakistan Stock Exchange (PSX) on Tuesday, mark a strategic pivot for a company that recently had no active operations.
The proposed name change still requires shareholder approval and registration with the Securities and Exchange Commission of Pakistan (SECP). If cleared, Zuma Resources will operate with a much larger authorized capital—jumping from PKR 150 million (15 million shares at Rs10 each) to PKR 350 million (35 million shares at Rs10 each).
Boardroom Shake-Up and Auditor Switch
Alongside the rebrand, the company’s board accepted the resignations of directors Muhammad Omer and Shahid Iqbal, appointing Sohaib Anwar and Saniya Akhter in their place. Auditor responsibilities will now shift to A.H.W. Chartered Accountants, replacing Mushtaq & Company, which stepped down.
The CEO and Company Secretary have been tasked with completing the corporate paperwork and convening an Extraordinary General Meeting to formalize the changes.
From Dormant Operations to a New IT Venture
Just last month, Bilal Fibres told investors it had no business activity for the quarter ending June 30, 2025. That makes today’s announcement of a Rs10 million investment in a new IT division a striking reversal of course.
According to a nine-page filing, the company plans to set up a small tech team—two software engineers, a marketing lead, and basic infrastructure including five laptops—to target online freelance marketplaces like Upwork and Fiverr. The goal is to land contracts for website development (Rs100,000–250,000 per project), mobile app MVPs (Rs300,000–1 million), and monthly IT support retainers.
Management projects that if the team secures a few contracts each quarter, annual revenues could reach anywhere between Rs12 million and Rs70 million, with a break-even target of 12 to 18 months.
Why This Matters
For a company that recently stood idle, this shift signals more than just a name change—it’s a bid to reinvent itself in a high-growth sector while giving investors a reason to keep watching. Whether the move to digital services can deliver those revenue projections will be the next test for the soon-to-be Zuma Resources.
