Thal Industries : Transmission of Annual Report for the Year Ended

SUSTAINABLE

GROWTH TOGETHER

ANNUAL R E PORT

2021-22

TABLE OF

CONTENTS

	P.2	P.3		P.5
	Company Information	Vision and Mission Statement		Notice of Annual General
							Meeting
P.11	P.13		P.23
Chairman's Review	Director's Report		Statement of Ethics &
							Business Practices
		P.18		P.24
		Director's Report Urdu		Six Years Summary of
							Financial Highlights
							P.25
							Pattern of Holding of Shares
	P.26		P.28		P.31
	Categories of Share Holders		Statement of Compliance		Review Report to the
							Members
	P.32		P.36		P.38
	Independent Auditor's Report		Statement of Financial Position		Statement of Profit or Loss and
	to the Members						other Comprehensive income
			P.39		P.40
			Statement of Changes in Equity		Statement of Cash Flows
			P.41		P.77
			Notes to the Financial Statements		Proxy Form

ANNUAL REPORT 2022 1

COMPANY

INFORMATION

BOARD OF DIRECTORS

CHAIRPERSON

Mrs. Qaiser Shamim Khan

CHIEF EXECUTIVE

Mr. Muhammad Shamim Khan

MANAGING DIRECTOR

Mr. Nauman Ahmed Khan

DIRECTORS
Mr. Muhammad Shamim Khan	(Director)
Mrs. Qaiser Shamim Khan	(Director)
Mr. Adnan Ahmed Khan	(Director)
Mr. Nauman Ahmed Khan	(Director)
Mr. Muhammad Khan	(Director)
Mr. Muhammad Ashraf Khan Durani

(Independent Director) Mr. Abdul Wahid Khan (Independent Director)

CHIEF FINANCIAL OFFICER

Mr. Hafiz Muhammad Arif

COMPANY SECRETARY

Mr. Wasif Mahmood

AUDITORS

M/s. Rahman Sarfaraz Rahim Iqbal Rafiq Chartered Accountants, Lahore

LEGAL ADVISOR

Mr. Shehzad Ata Elahi, Advocate

BANKERS

Allied Bank Limited

Askari Bank Limited

Bank Al-Habib Limited

Bank Alfalah

BankIslamic (Pakistan) Limited

Faysal Bank Limited

Habib Bank Limited

Habib Metropolitan Bank Limited

MCB Bank Limited

MCB Islamic Bank Limited

Meezan Bank Limited

Dubai Islamic Bank

Standard Chartered Bank (Pakistan) Limited

Soneri Bank Limited

United Bank Limited

The Bank of Punjab

NBP Aitemaad Islamic Bank Limited

AUDIT COMMITTEE
Mr. Muhammad Ashraf Khan Durani	Chairman
Mrs. Qaiser Shamim Khan	Member
Mr. Adnan Ahmed Khan	Member
HUMAN RESOURCE &
REMUNERATION COMMITTEE
Mr. Abdul Wahid Khan	Chairman
Mr. Adnan Ahmed Khan	Member
Mr. Muhammad Khan	Member
RISK MANAGEMENT COMMITTEE
Mr. Abdul Wahid Khan	Chairman
Mr. Muhammad Ashraf Khan Durani	Member
NOMINATION COMMITTEE
Mr. Abdul Wahid Khan	Chairman
Mr. Muhammad Ashraf Khan Durani	Member
SHARE REGISTRAR
M/s. Corplink (Pvt) Ltd
Wings Arcade, 1-K- Commercial
Model Town, Lahore
Tel: [phone]
Fax: [phone]

REGISTERED OFFICE

23- Pir Khurshid Colony Gulgasht, Multan

Tel: [phone]

Fax: [phone]

LAHORE OFFICE

2-D-1Gulberg-III, Lahore - 54600

Tel: [phone]

Fax: [phone]

FACTORY ADDRESSES

Unit 1: Layyah Sugar Mills, Layyah

Tel: [phone]

Fax: [phone]

Unit 2: Safina Sugar Mills, Lalian District Chinniot.

Tel: [phone]

Fax: [phone]

WEBSITE: www.thalindustries.com

2

VISION AND

MISSION STATEMENT

VISION	We shall build on our core
competencies and achieve excellence
	in performance to become a leading
	producer of best quality sugar. In
	doing so we aim to meet or accede the
	expectations of all our stakeholders.
	Our goal is not only to attain
	technological advancements in the
	field of sugar but also to inculcate
	the most efficient, ethical and time
	tested business practices in our
	management.
	Furthermore, we shall strive to
	innovate the ways for the improvement
	and increase in per acre yield of
	sugarcane and introduce improved
	varieties of sugarcane having better
	yield characters, high sucrose
	contents, disease and drought
	resistant and better ratooning crop
	in the region. We shall introduce the
	mechanized sugarcane cultivation
	mehtod to the growers and to educate
	regarding latest developments of
	agriculture technology and free
	consultancy of professionals.

We aim to be a leading producer and supplier of quality sugar MISSION by adopting the most technological advancement. We intend to play a pivotal role in the economic development of Pakistan.

ANNUAL REPORT 2022 3

CORPORATE

STRATEGY

We shall build on our core competencies and achieve excellence in performance to become a leading producer of best quality sugar. In doing so we aim to meet or accede the expectations of all our stakeholders.

Our goal is not only to attain technological advancements in the field of sugar but also to inculcate the most efficient, ethical and time tested business practices in our management.

Furthermore, we shall strive to innovate the ways for the improvement and increase in per acre yield of sugarcane and introduce improved varieties of sugarcane having better yield characters, high sucrose contents, disease and drought resistant and better ratooning crop in the region. We shall introduce the mechanized sugarcane cultivation mehtod to the growers and to educate regarding latest developments of agriculture technology and free consultancy of professionals.

4

CORE VALUES

Strive for excellence and build on our core competencies.

Keep up with technological advancements in our biological control laboratory and extend the Research & Development Programme to control sugarcane crop diseases.

Inculcate efficient, ethical and time tested business practices in our management.

Work as a team and support each other.

Put the interest of the company before that of the individuals.