Hoechst Pakistan : Transmission of Annual Report for the Year Ended December 31, 2023

HOECHST PAKISTAN LIMITED

Contents
Company Information	02
About Hoechst Pakistan Limited	03
Our History	04
Our Vision and Mission	06
Our Values	07
Board of Directors	09
The Year at a glance	12
Our Key Brands	13
Employee Engagement	14
Corporate Social Responsibility	18
Independent Auditors' Review Report on	20
Statement of Compliance
Statement of Compliance with	21
The Code of Corporate Governance
Operating & Financial Highlights	23
Horizontal Analysis	24
Vertical Analysis	26
Analytical Review	28
Statement of Value Added	32
Chairman's Review Report	34
Directors' Report	35
Independent Auditors' Report to The Members	39
Financial Statements	43
• Statement of Financial Position
• Statement of Comprehensive Income	44
45
• Statement of Changes in Equity	46
• Statement of Cash Flows	47
• Notes to the Financial Statements	48
Shareholders' Information	90
Pattern of Shareholding	92
Notice of Annual General Meeting	95
Proxy Form
Electronic Credit Mandate Form
Request Form for Transmission of Annual Report and Notices
Notice of Annual General Meeting (Urdu)	107
Directors' Report (Urdu)	110
Chairman's Review Report (Urdu)	111

ANNUAL REPORT 2023 1

Company Information

Board of Directors	Shares Registrar
Syed Babar Ali (Chairman)	FAMCO Share Registration Services (Private)
Syed Hyder Ali	Limited
Mr. Arshad Ali Gohar	8-F, Near Hotel Faran, Nursery,
Mr. Imtiaz Ahmed Husain Laliwala	Block-6, P.E.C.H.S., Shahrah-e-Faisal, Karachi
Syed Anis Ahmad Shah	Tel: [phone]
Mr. Muhammad Salman Burney	URL: www.famcosrs.com
Ms. Saadia Naveed	Bankers
Ms. Iqra Sajjad
Mr. Sajjad Iftikhar	Allied Bank Limited
Chief Executive Officer	Bank Al Habib Limited
Deutsche Bank AG
Mr. Sajjad Iftikhar	Habib Bank Limited
Chief Financial Officer	Habib Metropolitan Bank Limited
JS Bank Limited
Mr. Yasser Pirmuhammad	MCB Bank Limited
Company Secretary	National Bank of Pakistan
Standard Chartered (Pakistan) Limited
Syed Muhammad Taha Naqvi	Registered Office
Head of Internal Audit
Plot 23, Sector 22, Korangi Industrial Area,
Mr. Feroze Polani	Karachi - 74900
Auditors	Postal Address
A.F. Fergusons & Co.	P.O. Box No. 4962, Karachi - 74000
Chartered Accountants	Contact
Legal Advisors
Tel: [phone]
Khalid Anwer & Co.	Email: [e-mail]
Saadat Yar Khan & Co.	Web presence
Ghani Law Associates
THS & Co.	www.hoechst.com.pk

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HOECHST PAKISTAN LIMITED (formerly Sanofi Aventis Pakistan Limited)

About Hoechst Pakistan Limited

Hoechst Pakistan Limited (formerly Sanofi-Aventis Pakistan Limited) has been present in Pakistan for over 55 years, saving the lives of millions and improving the quality of life of many more through high quality products.

The Company was incorporated on December 8, 1967, as Hoechst Pakistan Limited. In 1977 the organization went public and was listed on the Karachi Stock Exchange (now Pakistan Stock Exchange). Following multiple mergers, divestments and acquisitions over the years, the name of the company was changed to sanofi-aventis Pakistan limited in 2005.

On May 6th, 2022, Sanofi publicly announced the signing of a binding Share Purchase Agreement with the investor consortium led by Packages Limited, and including IGI Investments, and affiliates of Arshad Ali Gohar Group. The transaction successfully closed at the end of April 2023 with the transfer of 52.87% shares to the consortium. In August 2023, the Board of Directors approved the change of the name of the Company from "sanofi-aventis Pakistan Limited" to "Hoechst Pakistan Limited".

We are a company with a rich legacy of excellence and reliability, and we are now seeking new ways to innovate and improve upon our past successes to address the full spectrum of healthcare needs, from wellness to prevention to management, treatment and cure.

1970 - Foundation Laying Ceremony of Hoechst Pakistan (now Hoechst Pakistan Limited)

L to R : Front : Uwe Weimann , Pir Ali Gohar, Syed Babar Ali,

Prof. Sammet (Chairman, Hoechst A.G.) , Dominik von Winterfeldt , Karl - Heinz Gross;

Back: Dr. Seyfried and Dr. Ing. Siegfried Lenz

ANNUAL REPORT 2023 3

Our History

2000

Name of the Company in

Pakistan changed to Aventis

Pharma (Pakistan)

Limited

1999

Hoechst AG & Rhone Poulenc S.A. globally merged their life sciences business into a new company known as Aventis S.A.

1997

Hoechst Pakistan Limited

changed its name to

Hoechst Marion Roussel

(Pakistan) Limited

1977

The company got listed on Karachi Stock Exchange

1967

The Company was

incorporated with the

name of Hoechst Pakistan Limited

4 HOECHST PAKISTAN LIMITED (formerly Sanofi Aventis Pakistan Limited)

2003

Aventis Pharma (Pakistan) Limited merged with Rhone Poulenc Rorer Pakistan (Private) Limited and name changed

to Aventis Limited.

2004

Aventis S.A. acquired by sanofi synthelabo to form a company called sanofi-aventis S.A.

2005

Name of Company changed to Sanofi-Aventis Pakistan Limited.

2011

Sanofi-Aventis changed its identity to Sanofi internationally.

2023

Sanofi's shareholding was purchased

by an investor consortium led by Packages Limited. The legal name changed to Hoechst

Pakistan Limited.

ANNUAL REPORT 2023 5

Vision

To become a healthcare leader focused on patients' needs.

Mission

To enhance the quality of life of millions of people by addressing unmet medical needs in the community and promoting access to quality healthcare.

6 HOECHST PAKISTAN LIMITED

Our Values

Our Values shape our behaviors, ethics, and serve as a moral compass, ultimately defining the DNA of our company.

Care

Respect

Lead

Honesty

Courage

Fairness and consideration are integral to our culture.

We treat people with respect and dignity.

We aspire to lead in everything that we do.

Truthfulness, integrity and trust form the backbone of all our activities.

We stand up for what we believe in.

ANNUAL REPORT 2023

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8 HOECHST PAKISTAN LIMITED