Honda Atlas Cars Pakistan : Transmission of Annual Report for the Year Ended 2023-03-31

Cover Concept

As a futuristic Company we continue to map our 2023 journey towards driving innovation, pushing boundaries, and embracing change. Our team is devotedly taking up the forward-thinking approach, that will help continue us to achieve the goal to drive towards a prosperous and cutting-edge future.

Company Profile

Honda	Atlas Cars (Pakistan)	Limited is	more	than	530,000	cars in Pakistan.	generation, BR-V and HR-V. The Honda
a joint venture between Honda Motor,	The	Company consistently	increased	City 2021 gives the best of driving pleasure
Japan, and the Atlas Group, Pakistan. The	production with the progress of the car	including SRS airbags for both driver and
Company is a public limited; also listed on	market and to meet the growing customer	co-drivers' safety as a standard feature
Pakistan Stock Exchange Limited.	demand. A major plant expansion was	in all the variants. Moreover, Honda has
				done in 2006 and the production capacity	taken care of the overall performance and
The Company was incorporated on	was increased to 50,000 units / year on	fuel efficiency in the 6th generation model
November 04, 1992, and the joint venture	double shift basis.				which reflects in driving the car, as this car
agreement was signed on August 05,							has become more comfortable to drive in
1993. The groundbreaking ceremony was	The percentage of local parts conforms to	city traffic than ever before.
held on April 17, 1993, and within a record	the Government's policy. Local vendors
time of 11 months, the construction and	are continuously patronized to develop	The new 11th-generation Honda Civic
erection of machinery were completed.	parts locally. The quality of local parts is	2022 was launched in Pakistan during
The first car rolled off the assembly line	thoroughly checked to meet stringent	March 2022, it comes with all the latest
on May 26, 1994. The official inauguration	international standards of Honda.	safety features. The RS variant 2022 comes
was done by the then President of Pakistan,							with additional safety features termed as
Sardar Farooq Ahmad Khan Leghari. Mr.	Honda always strives to provide	Honda Sensing which includes Collision
Nobuhiko Kawamoto, President of Honda	outstanding services and products to our	Mitigation Braking System, Adaptive Cruise
Motor, Japan, and the late Mr. Yusuf H.	valued customers. In addition, the Company	Control, Lane Keep Assist System, Road
Shirazi, Founder of Atlas Group were	regularly conducts	Service	Campaigns	departure mitigation system, Auto High
also present to grace the occasion. The	to facilitate customers' need for service.	Beam, Lead Car Departure Notification
Company enlisted on the Karachi & Lahore	This has given our customers absolute	System, and Walk Away auto-locking.
Stock Exchanges (now Pakistan Stock	confidence in our cars which is clear from	Performance ratings for the Honda Civic
Exchanges) and Initial Public Offer (IPO)	the ever-increasing sales volumes.	2022 are among the best in the class. The
was made in November 1994.								car is well-handled, rides in a composed
				It is the constant endeavor of Honda Atlas	manner, and has a powerful engine lineup.
On July 14, 1994, car bookings started	Cars (Pakistan) Limited to achieve No.1
at six dealerships in Karachi, Lahore, and	Customer	satisfaction.	The	Company	Honda BR-V is available in a wide range
Islamabad. Since then, the dealership	is committed to meeting customer	of colors with advanced technological
network has expanded and now the	expectations and providing good value	features.
Company has thirty-eight 3S (Sales,	for money. The Company believes that
Service, and Spare Parts), twenty 2S	human beings are born to think, create and	Recently, Honda expanded its locally
(Service and Spare Parts), and five 1S	express their individuality. Thus, realizing	manufactured model lineup. Honda HR-V
(Spare	Parts)	authorized	dealerships	their hopes and dreams, we strive to attract	was launched on October 21st 2022 in two
networks in all the major cities of Pakistan.	individuals who share this belief and who	variants and in a wide range of colors with
All dealerships are constructed in	will respect one another's individuality. We	advance technological features.
accordance with the standards defined by	pursue to foster an atmosphere of mutual
Honda the world over.		trust & fairness in which our associates	Honda Atlas Cars Pakistan Limited
				can realize their full potential and create	(HACPL) marked the rollout of 500,000
We started production in 1994, with the	new values for the society by following the	vehicles at the Manga Mandi plant in
launch of the 5th generation of the Honda	Honda Philosophy.				Lahore. This outstanding achievement
Civic model in Pakistan. Subsequently, the							is a sign of Pakistani customers' trust in
Company enriched the product line with	Currently, we are not only offering imported	Honda Cars (Pakistan). The Company
the launch of Honda City in 1997, Honda	models of Honda Accord & Honda CR-V	will continue to play an important role in
BR-V in 2017 and Honda HR-V in 2022.	but have also introduced locally	the country's automotive business and
Since the commencement of production,	manufactured New Honda City 6th	demonstrates a commitment to long-term
the Company	has produced and sold	generation,	New	Honda	Civic 11th	investment in the country.

Contents	06	Vision Statement
	Management / Company's Structure
	08	Company Information
	10	Board of Directors
	14	Key Management
	18	Organization Chart
	20	Corporate Governance (Organization Structure)
	22	Business Principles
	25	Honda Philosophy
	28	Chronicle of Events

Information & Review Reports

30 Pattern of Shareholding

1. Investor Relations Information

1. Significant Events

1. Chairman's Review

1. Directors' Report

1. Statement of Compliance with Listed Companies (Code of Corporate Governance) Regulations, 2019

1. Independent Auditor's Review Report

Financial Analysis

1. Revenue Application
2. Value Added and its Distribution
3. Financial Highlights

1. Horizontal Analysis
2. Vertical Analysis

Auditor's Report & Financial Statements

1. Independent Auditor's Report

1. Statement of Financial Position

1. Statement of Profit or Loss
2. Statement of Comprehensive Income
3. Statement of Changes in Equity
4. Statement of Cash Flows
5. Notes to and Forming Part of the Financial Statements

Notice of Meeting and Reports

1. Notice of Annual General Meeting
2. Honda Dealers' Network

1. Directors' Report (Urdu)

1. Chairman's Review (Urdu)

1. Form of Proxy

Management /

Information &

3 Financial Analysis

4

Auditor's Report &

5

Notice of Meeting /

Management /

Information &

3 Financial Analysis

4

Auditor's Report &

5

Notice of Meeting /

1 Company's Structure

2 Review Reports

Financial Statements

Reports

1 Company's Structure

2 Review Reports

Financial Statements

Reports

Vision Statement

Striving to be a Company that society wants to exist by sharing joys with people throughout the world.

Creating products that maximize the joy of customers with speed, affordability and low CO2.

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Annual Report 2023

Driving towards the Future

7

Management /	Information &	3 Financial Analysis	4	Auditor's Report &	5	Notice of Meeting /
1 Company's Structure	2 Review Reports	Financial Statements	Reports

Company Information

Management /	Information &	3 Financial Analysis	4	Auditor's Report &	5	Notice of Meeting /
1 Company's Structure	2 Review Reports	Financial Statements	Reports

Board of Directors

Mr. Aamir H. Shirazi

Chairman

Mr. Takafumi Koike

President & CEO

Mr. Saquib H. Shirazi

Director & Senior Advisor

Mr. Shinobu Nakamura

Executive Director & VP (P)

Mr. Nobuyoshi Noda

Director

Mr. Gaku Nakanishi

Director

Mr. Muhammad Naeem Khan

Independent Director

Mr. Ariful Islam

Independent Director

Ms. Rie Mihara

Independent Director

Audit Committee

Mr. Muhammad Naeem Khan

Chairman

Mr. Saquib H. Shirazi

Member

Mr. Nobuyoshi Noda

Member

Mr. Gaku Nakanishi

Member

Executive Committee

Mr. Takafumi Koike

Mr. Maqsood-ur-Rehman Rehmani

Mr. Shinobu Nakamura

Human Resource and Remuneration Committee

Mr. Muhammad Naeem Khan

Chairman

Mr. Saquib H. Shirazi

Member

Mr. Takafumi Koike

Member

Mr. Shinobu Nakamura

Member

Mr. Nobuyoshi Noda

Member

Company Secretary & Vice President

Mr. Maqsood-ur-Rehman Rehmani

Chief Financial Officer

Mr. Hamood-ur-Rahman Qaddafi

Head of Internal Audit

Mr. Imran Farooq

Bankers

Allied Bank Limited

Citibank N.A.

Deutsche Bank AG

Faysal Bank Limited

Habib Bank Limited

MCB Bank Limited

Meezan Bank Limited

National Bank of Pakistan

Soneri Bank Limited

Standard Chartered Bank (Pakistan) Limited

United Bank Limited

Auditors	Registered Office	Regional Offices
M/s A. F. Ferguson & Co.	1-Mcleod Road, Lahore, Pakistan.	Lahore
Chartered Accountants	Tel: [phone]	Asia House,
	Fax: [phone]	19-C&D, Block L, Gulberg III,
Legal Advisor		Main Ferozepur Road.
Bukhari Aziz & Karim	Factory	Tel: [phone]
	Fax: [phone]
Axis Law Chambers	43 Km, Multan Road,
	Manga Mandi, Lahore, Pakistan.	Karachi
	Tel: [phone]	5th floor,
	Fax: [phone]	Tower-A, Technology Park,
	E-mail: [e-mail]	Shahrah-e-Faisal,
		Tel: [phone]

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Annual Report 2023

Driving towards the Future

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