CONTENTS | |
Company Information............................................................................................ | 02 |
Vision and Mission Statement............................................................................ | 03 |
Notice of Annual General Meeting................................................................... | 04 |
Chairman's Review Report................................................................................... | 09 |
Directors' Report...................................................................................................... | 11 |
Statement of Compliance with the Listed Companies | |
(Code of Corporate Governance) Regulations, 2019................................ | 19 |
Independent Auditor's Review Report............................................................ | 22 |
Independent Auditor's Report............................................................................ | 23 |
Statement of Financial Position......................................................................... | 28 |
Statement of Profit or Loss Account................................................................ | 29 |
Statement of Comprehensive Income............................................................ | 29 |
Statement of Changes in Equity........................................................................ | 30 |
Statement of Cash Flows...................................................................................... | 31 |
Notes to the Financial Statements................................................................... | 33 |
Financial Statistical Summary............................................................................ | 83 |
Pattern of Shareholding........................................................................................ | 84 |
Categories of Shareholders................................................................................. | 85 |
Important Notes for the Shareholders............................................................ | 86 |
Directors' Report (Urdu)........................................................................................ | 96 |
Chairman's Review Report (Urdu)..................................................................... | 97 |
Notice of Annual General Meeting (Urdu).................................................. | 101 |
Form of Proxy (English/Urdu).......................................................................... | 103 |
Annual Report 2022 1
COMPANY INFORMATION
BOARD OF DIRECTORS
MR. MANSOOR IRFANI | CHAIRMAN |
MR. OMER BAIG | MANAGING DIRECTOR / CEO |
MR. MOHAMMAD BAIG | EXECUTIVE DIRECTOR |
MR. SAAD IQBAL | NON-EXECUTIVE DIRECTOR |
MS. RUBINA NAYYAR | NON-EXECUTIVE / FEMALE DIRECTOR |
MR. MUHAMMAD IBRAR KHAN | INDEPENDENT DIRECTOR |
MR. FAIZ MUHAMMAD | INDEPENDENT DIRECTOR |
AUDIT COMMITTEE
MR. FAIZ MUHAMMAD | CHAIRMAN | |
MR. MANSOOR IRFANI | MEMBER | |
MS. RUBINA NAYYAR | MEMBER | |
HUMAN RESOURCE & | ||
REMUNERATION COMMITTEE | ||
MR. FAIZ MUHAMMAD | CHAIRMAN | |
MR. OMER BAIG | MEMBER | |
MS. RUBINA NAYYAR | MEMBER | |
CHIEF FINANCIAL OFFICER | ||
MR. WAQAR ULLAH | ||
COMPANY SECRETARY | ||
MR. MOHSIN ALI | ||
EXTERNAL AUDITORS |
LEGAL ADVISOR
KASURI AND ASSOCIATES, LAHORE
BANKERS
AL-BARAKA BANK (PAK) LIMITED ALLIED BANK LIMITED ASKARI BANK LIMITED
BANK ALFALAH LIMITED
BANK ALHABIB LIMITED
FAYSAL BANK LIMITED
HABIB BANK LIMITED
HABIB METROPOLITAN BANK LIMITED MCB BANK LIMITED
MEEZAN BANK LIMITED NATIONAL BANK OF PAKISTAN
PAKISTAN KUWAIT INVESTMENT CO., (PVT) LIMITED SAMBA BANK LIMITED
STANDARD CHARTERED BANK (PAK) LIMITED THE BANK OF KHYBER
THE BANK OF PUNJAB
UNITED BANK LIMITED
CROWE HUSSAIN CHAUDHURY & CO. CHARTERED ACCOUNTANTS, LAHORE
CORPORATE CONSULTANTS
MR. RASHID SADIQ
M/S R.S. CORPORATE ADVISORY , LAHORE
TAX CONSULTANTS
YOUSAF ISLAM ASSOCIATES, LAHORE
SHARES REGISTRAR
SHEMAS INTERNATIONAL (PVT) LTD.
533-Main Boulevard, Imperial Garden Block, Paragon City, Barki Road, Lahore.
Ph: +92-42-37191262
E-mail: info@shemasinternational.com
COMPANY RATING
LONG TERM: A+ | SHORT TERM: A1 |
OUTLOOK: STABLE | RATING AGENCY: PACRA |
RATING DATE: DECEMBER 24, 2021
REGISTERED OFFICE
128-J, MODEL TOWN, LAHORE. UAN: 042-111-34-34-34
FAX: 042-35857692 - 35857693
E-mail: info@tariqglass.com
WEB: www.tariqglass.com
WORKS
33-KM, LAHORE/SHEIKHUPURA ROAD,
DISTRICT SHEIKHUPURA.
TEL: (042) 37925652, (056) 3500635-7
FAX: (056) 3500633
2
VISION
STATEMENT
To be a premier glass manufacturing organization of International standards and repute, offering innovative value-added products, tailored respectively to the customer's needs and satisfaction. Optimizing the shareholder's value through meeting their expectations, making Tariq Glass Industries Limited an "Investor Preferred Institution" is one of our prime policies. We are a "glassware supermarket" by catering all household and industrial needs of the customers under one roof.
MISSION
STATEMENT
To be a world class and leading company continuously providing quality glass tableware, containers and float by utilizing best blend of state of the art technologies, highly professional staff, excellent business processes and synergistic organizational culture.
Annual Report 2022 3
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that 44th Annual General Meeting ("AGM") of Tariq Glass Industries Limited (the "Company") will be held on Thursday, the October 27, 2022 at 11:00 AM at the registered office of the Company situated at 128-J, Model Town, Lahore and through video link to transact the following business:
ORDINARY BUSINESS
-
To confirm the minutes of the Extra Ordinary General Meeting of the members held on March 21,
2022. - To receive, consider and adopt the Audited Financial Statements of the Company for the year ended June 30, 2022 together with the Chairman's Review Report, Directors' Report and Auditors Reports thereon.
- To appoint Auditors of the Company for the year ending June 30, 2023 and fix their remuneration. The shareholders are hereby notified that the Audit Committee and the Board of Directors have recommended the name of retiring Auditors M/S Crowe Hussain Chaudhury & Co., Chartered Accountants for re-appointment as auditors of the Company.
- To approve the payment of final cash dividend at the rate of 20% i.e., Rs. 2/- per share as recommended by the Board of Directors for the year ended June 30, 2022.
SPECIAL BUSINESS
5. To approve issuance of bonus shares at the rate of 25% i.e., 5 ordinary shares for every 20 ordinary shares for the year ended June 30, 2022 as recommended by the Board of Directors.
These new bonus shares shall not be entitled for the final cash dividend for the year ended June 30, 2022 and if deemed fit, to pass the following ordinary resolutions with or without modification, addition(s) or deletion(s) for the issuance of bonus shares:
"RESOLVED that a sum of Rs. 344,334,370/- (Rupees Three Hundred Forty Four Million Three Hundred Thirty Four Thousand and Three Hundred Seventy only) out of the Company's free reserves / unappropriated profit be capitalized and applied towards the allotment and issuance of 34,433,437 ordinary shares of Rs.10/- each as fully paid bonus shares in the proportion of
4
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Tariq Glass Industries Ltd. published this content on 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 15:53:03 UTC.