OUR
CLIENTELE
PAKISTAN MOVES ON
CONTENTS
CONSOLIDATED FINANCIAL STATEMENTS
VISION AND MISSION STATEMENT | 03 | AUDITORS' REPORT TO THE MEMBERS | 77 | ||||
CORPORATE PROFILE | 05 | STATEMENT OF FINANCIAL POSITION | 80 | ||||
NOTICE OF ANNUAL GENERAL MEETING | 07 | STATEMENT OF PROFIT OR LOSS AND | |||||
CHAIRMAN'S REVIEW | 11 | OTHER COMPREHENSIVE INCOME | 81 | ||||
DIRECTORS' REPORT | 15 | STATEMENT OF CHANGES IN EQUITY | 82 | ||||
STATEMENT OF COMPLIANCE WITH THE | CASH FLOW STATEMENT | 83 | |||||
CODE OF CORPORATE GOVERNANCE | 24 | NOTES TO THE ACCOUNTS | 84 | ||||
PERFORMANCE HIGHLIGHTS | 28 | PATTERN OF SHAREHOLDING | 122 | ||||
CATEGORIES OF SHAREHOLDERS | 123 | ||||||
FORM OF PROXY | 125 | ||||||
UNCONSOLIDATED FINANCIAL STATEMENTS
REVIEW REPORT TO THE MEMBERS | 31 | |
AUDITORS' REPORT TO THE MEMBERS | 32 | |
STATEMENT OF FINANCIAL POSITION | 37 | |
STATEMENT OF PROFIT OR LOSS AND | ||
OTHER COMPREHENSIVE INCOME | 38 | |
STATEMENT OF CHANGES IN EQUITY | 39 | |
CASH FLOW STATEMENT | 40 | |
NOTES TO THE ACCOUNTS | 41 | |
Annual Report 2024 | 1 |
2 Exide Pakistan Limited
VISION
TO REMAIN LEADER IN AUTOMOTIVE BATTERY INDUSTRY BY SUPPLYING QUALITY PRODUCT TO THE CUSTOMERS AT AFFORDABLE PRICE AND TO SATISFY THEIR NEEDS BY PROVIDING RELIABLE PRODUCT AS PER INTERNATIONAL STANDARD AND BEST SUITED TO LOCAL ENVIRONMENT.
MISSION
- CONTINOUS IMPROVEMENT IN WORKMANSHIP, PROCESS, PRODUCTIVITY AND ELIMINATION OF WASTAGE BY EFFECTIVE IMPLEMENTATION OF TOTAL QUALITY CONTROL.
- TO BE HONEST AND FAIR WITH ALL PARTNERS NAMELY SHAREHOLDERS, EMPLOYEES, SUPPLIERS, FINANCIAL INSTITUTIONS, GOVERNMENT AND THE CUSTOMERS.
- TO TRAIN AND MOTIVATE EMPLOYEES FOR BUILDING UP DEDICATED AND LOYAL TEAM.
- TO BE GOOD CITIZEN AND CONTRIBUTE EFFECTIVELY IN BETTERMENT AND PROSPERITY OF OUR COUNTRY.
Annual Report 2024 | 3 |
4 Exide Pakistan Limited
CORPORATE PROFILE
BOARD OFDIRECTORS
Arif Hashwani - Chairman
Arshad Shehzada - MD/CEO
Altaf Hashwani
Hussain Hashwani
Zaver Hashwani
Amin Manji
Mrs. Navin Salim Merchant
S. Haider Mehdi
CHIEFFINANCIAL OFFICER
S. Haider Mehdi
AUDIT COMMITTEE
Amin Manji - Chairman
Altaf Hashwani
Zaver Hashwani
Salim Abdul Ali - Secretary
HUMAN RESOURCE AND
REMUNERATION COMMITTEE
Amin Manji - Chairman
Arif Hashwani - Member
Altaf Hashwani - Member
Muhammad Shayan - Secretary
BANKERS
BankIslami Pakistan Ltd.
Bank Alfalah Limited
Allied Bank Ltd.
Habib Bank Ltd.
Habib Metropolitan Bank Limited
JS Bank Ltd.
MCB Bank Ltd.
Meezan Bank Limited
Standard Chartered Bank (Pakistan) Ltd.
United Bank Ltd.
Dubai Islamic Bank Pakistan Limited
National Bank of Pakistan
Faysal Bank Limited
Al Baraka Bank (Pakistan) Limited.
AUDITORS
Yousuf Adil
SOLICITORS
Orr, Dignam & Co.
REGISTERED OFFICE
A-44, Hill Street, Off.
Manghopir Road, S.I.T.E., Karachi- Pakistan.
Website: www.exide.com.pk
E-mail: exidepk@exide.com.pk
Annual Report 2024 | 5 |
6 Exide Pakistan Limited
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the seventy-one Annual General Meeting of the shareholders of EXIDE Pakistan Limited will be held on Monday, July 29, 2024 at 11.00 hours at the Registered Office of the Company at A-44, Hill Street, Off: Manghopir Road, SITE, Karachi and through video link facility to transact the following business:
A. Ordinary Business
- To read and confirm minutes of the Seventieth Annual General Meeting of the Shareholders of the Company held on Tuesday, August 15, 2023.
- To receive and adopt the Audited Statements of Accounts for the year ended March 31, 2024 together with the Directors' and Auditors reports thereon.
- To declare final dividend for the year ended March 31, 2024, as recommended by the Directors.
- To appoint auditors for the year 2024-2025 and fix their remuneration.
By order of the Board
S. Haider Mehdi
Director
Karachi: June 29, 2024
Notes
- The Share Transfer Books of the Company will remain closed from Tuesday, 23rd July 2024 to Monday July 29, 2024 (both days inclusive). Transfers received in order at the office of the Company's Share Registrar THK Associates (Private) Limited, 32-C, Jami Commercial Street 2, D.H.A Phase VII, Karachi, 75500 by close of business on Monday 22nd July, 2024 will be treated as being in time to attend and vote at the meeting.
- A member, entitled to attend and vote at the meeting, may appoint a proxy in writing to attend and vote on the member's behalf. A proxy need not be a member of the Company. A corporate entity, being member, may appoint any person, regardless whether they are a member or not, as its proxy. In case of corporate entities, a resolution of the Board of Directors / Power of Attorney with specimen signature of the person nominated to represent and vote on behalf of the corporate entity shall be submitted to the Company along with a completed proxy form. The proxy holders are required to produce their original CNICs or original passports at the time of the meeting.
In order to be effective, duly completed and signed proxy forms must be received at the Company's Registered Office at least 48 hours before the time of the meeting. - The AGM proceedings may also be attended through ZOOM application (a video link conferencing facility). Shareholders interested to participate in the meeting are requested to email required information with "Registration for EXIDE Pakistan Limited AGM' along with valid copy of both sides of Computerized National Identity Card (CNIC) at shmehdi@exide.com.pk. Shareholders are advised to mention their full name, Folio/CDC Account Number, CNIC Number, active email address and mobile number. Video link details and login credentials will be sent to members at their provided email addresses enabling them to attend the attend the meeting on the given date and time.
Annual Report 2024 | 7 |
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