Rafhan Maize Products : Transmission of Annual Report for the Year Ended December 31, 2021

CONTENTS

02

04

Our History

Vision, Mission Statement

10

Directors' ProfileLeadership Team

13

Forward-Looking Statements

18

Directors' Report

29

ٹروپر یک زرٹکیرئاڈ

36

Health, Safety & EnvironmentExport Business

37

Corporate Social Responsibility

41

Value of the Month CampaignHorizontal Analysis - B/S and P & L

42

Vertical Analysis - B/S and P & L

45

Summary of Cash Flow Statement - Direct MethodKey operating and financial data

45

48

49

Graphical PresentationDupont AnalysisQuarterly Analysis

57

Independent Auditor's Review Report

58

Statement of Compliance

68

Statement of Comprehensive Income

69

Statement of Cash Flows

117

Request Form

For Dividend Mandate (Mandatory)

Request Form For Hard Copy of Annual Audited Financial Statements

05

Core Values

15

30

Regenerative and Sustainable Agriculture

38

43

46

Performance Indicators

50

62

Independent Auditor's Report

70

Statement of Changes in Equity

Company Information

Business ReviewState of the Art Wet Milling PlantCorporate Social Responsibility AwardsTen Years at a Glance Summary of Cash

Flow StatementValue of InvestmentsSensitivity Analysis and Statement of Value AddedStatement of Financial PositionNotes to the Financial Statements

119

121

06

Chairman's Review

16

Financial Highlights

32

39

44

46

51

Notice of Meeting

66

71

123

Proxy Form

مراف یسکارپ

08

17

34

Product Range

40

Celebration Activities

44

47

Investors' Information

52

67

Statement of Profit or Loss

116

Pattern of Shareholding

OUR HISTORY

Rafhan Maize Products Co. Limited started its operations in 1953 as a pioneer corn refining industry in Pakistan. From the relatively modest start, the operations of Rafhan Maize have grown into one of the premier agro-based industries in Pakistan over the last 68 years.

Rafhan Maize is an affiliate of Ingredion Incorporated; USA, one of the world's leading corn refiners. Affiliation with a global company enables to guarantee quality products, consistent supply and unequaled services. Rafhan Maize produces high-quality food ingredients and industrial products derived from the wet milling of maize. All these products are being used in more than 50 types of industries in Pakistan and international markets.

Take a look at some of the highlights of our history and how we have grown and transformed into a leading ingredients solutions provider we are today.

2012
Commissioning of
Mehran Plant
Corn Products
changes its name
to Ingredion to
2004	better reflect the
company's position
Cornwala Plant	as a leading
Started at Jaranwala,	ingredient supplier to
Punjab	a range of industries.

2003

2008

2013

Certification of ISO-9001 : 2000 in Rakh Canal Plant, FaisalabadGround Breaking of Mehran Plant at Kotri, Sindh

Completion of Phase II of Mehran Plant

Our journey of Transformation, Innovation & Excellence

1962

Corn Products Acquired 51% Equity of Rafhan Maize.

1999

Corn Products Equity increased from 51% to 70% plus.

1953

Rafhan Maize established as a Pioneer Corn Refiner at Rakh Canal Plant, Faisalabad, Punjab

2015

Commissioning of MVR Plant at RCP Faisalabad, Punjab

1985

Rafhan Maize Converted Into A Public Limited Company.

2017

Commissioning of Dextrose Plant at CWP Jaranwala, Punjab

2001

Ground Breaking of Cornwala Plant at Jaranwala, Punjab

2021

Commissioning of RCP Light Steep Water Mechanical vapor recompression-evaporator

2016

Comissioning of Co-Generation Plant at CWP Jaranwala, Punjab

2019

Commissioning of RCP Waste Water Treatment Plant