National Silk & Rayon Mills : Transmission of Annual Report for the Year Ended

ANNUAL

REPORT

Manufacturer & Exporter of Quality Textile Products

Mission Statement	02
Company Information	03
Notice of Meeting	04
Chairpersons' Review Report	06
Directors' Report	07
Statement of Compliance with the Code of Corporate Governance	11
Review Report to the Members	13
Auditors' Report to the members	14
Statement of Financial Position	17
Statement of Profit & Loss	18
Statement of Comprehensive Income	19
Statement of Cash Flow	20
Statement of Changes in Equity	21
Notes to the Financial Statements	22
Pattern of Share Holding	45
Summary of Last Six Years Financial Results	47
Director's Report Urdu	50
Proxy Form

The National Silk & Rayon Mills Ltd.

Mission Statement

We Shall provide unparalleled service and best value to

our customers through dedicated,

responsive and cost effective supply chain.

We are to provide quality products by strict adherence to

international standards and best practices through collaboration

with leading global companies in markets we serve.

We shall strive to maximize our shareholders value

through sustained profitable growth.

We shall enhance existing employee productivity, hire,

retain and develop best talent and provide them a competitive environment to excel and grow.

We will aggressively focus on increasing our market penetration by exploring new channels.

We shall continue to set new trends through innovative marketing and manufacturing.

The National Silk & Rayon Mills Ltd.

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Sh. Faisal Tauheed	(Executive Director)
Sh. Kashif Tauheed	-do-
Mrs. Samira Faisal	Non Executive Director
Mrs. Tahira Kashif	Non Executive Director/Chairman
Sh Mustafa Faisal Tauheed	Non Executive Director
Mr. Muhammad Arif	Independent Director
Mr. Shehzad Ehsan	Independent Director
Mr. Muhammad Arif	(Chairman)
Sh Mustafa Faisal Tauheed
Mrs. Tahira Kashif
Mr. Shehzad Ehsan	(Chairman)
Mrs. Samira Faisal
Mrs. Tahira Kashif
Sh. Faisal Tauheed Puri	(Chief Executive)
Muhammad Islam Haider	(Chief Financial Officer)
Imran Zafar	(Company Secretary)
Qaiser Ali Faheem	(Internal Auditor)
Riaz Ahmad and Company
Chartered Accountants

National Bank of Pakistan

The Bank of Punjab

Bank Alfalah Limited

Habib Metropolitan Bank Limited

Askari Bank Limited

Bank Al-Habib Limited

MCB Limited

Meezan Bank Limited

	House No. 8/3, Aziz Avenue,
	Canal Road, Gulberg V, Lahore.
	Dhuddiwala, Jaranwala Road, Faisalabad.
	Corplink (pvt.) Ltd.
	Share Registrar & Corporate Consultants
	Wings Arcade, 1-K Commercial, Model Town, Lahore.
	Tel: [phone] Fax: [phone]
	Sahibzada Muhammad Arif
	Advocate High Court,
	Chamber No.52, District Courts,
	Faisalabad.
The National Silk & Rayon Mills Ltd.	3

Notice is hereby given that the 72nd Annual General Meeting of the Shareholders of The National Silk & Rayon Mills Limited will be held at Ewan-e-Noor Event Complex, 10-Civic Centre, Johar Town, LDA Office, Lahore on on 28th day of October 2022 at 3.00 p.m. to transact the following business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the annual audited financial statements of the Company for the year ended June 30, 2022 together with the Directors' and Auditors' Report thereon.
2. To appoint auditors and fix their remuneration.

		By order of the Board
Place:	Lahore	(IMRAN ZAFAR)
Dated:	October 06, 2022	Company Secretary

NOTES:

1. The Share Transfer Books of the Company will remain closed from October 22, 2022 to October 28, 2022 (both days inclusive).
2. In light of the threat by the evolving coronavirus (COVID-19) situation, the Securities & Exchange Commission of Pakistan vide Circular No. 5 dated March 17, 2020 has advised the Company to modify their usual planning for Annual General Meeting in order to protect the well-being of the shareholders.
   The shareholders who are interested to attend the AGM through Video Conference, are hereby requested to get themselves registered with the Company Secretary office by providing the following detail at the earliest but not later than 24 hours before the time of AGM.
   Mobile / WhatsApp: [phone]
   E-mail:[e-mail]
   Shareholders are advised to mention Name, CNIC Number, Folio/CDC Account Number, Cell number and email ID for identification.
   Upon receipt of the above information from the interested shareholders, the Company will send the login credentials at their e-mail address. On the date of AGM, shareholders will be able to login and participate in the AGM proceedings through their smartphone / computer devices.
   In view of the above the Shareholders can also provide their comments/suggestions for the proposed agenda items of the AGM by using the aforesaid means.
3. A member entitled to attend and vote at this meeting may appoint another member as his/her proxy to attend and vote instead of him/her.
4. The instrument appointing a proxy and the power of attorney or other authority under which it is signed or a materially attested copy of the power of attorney must be deposited at the Registered Office of the Company at least 48 hours before the time of the meeting.
5. The financial statements for the year ended June 30, 2022 shall be uploaded on Company's website on or before October 06, 2022.
6. Members are requested to send copies of their computerized National Identity Cards to the company's independent Share Registrar M/s. Corplink (Pvt) Limited, Wings Arcade, 1-K, Commercial, Model Town, Lahore.
7. Members can exercise their right to demand a poll subject to meeting requirements of Section 143 to Section 145 of the Companies Act, 2017 and applicable clauses of the Companies (Postal Ballot) Regulations, 2018.

The National Silk & Rayon Mills Ltd.

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