Annual Report
Enriching Life
Enriching
Life
'Enriching Life' is more than a theme; it is the essence of our purpose, driving us to create solutions that improve health, elevate quality of life and inspire a brighter future.
Every initiative and partnership we embark on is rooted in this mission, ensuring that our impact reaches far beyond medicine.
Through our community programs and commitment to quality, we strive to make a meaningful difference in people's lives.
From offering healthcare solutions to supporting initiatives that empower individuals, our efforts are guided by a deep sense of responsibility and purpose.
Every step we take is driven by the belief that true progress is measured by the well-being of the people we serve.
CONTENTS | |
Our Credo | 04 |
Our Values | 05 |
Year at a Glance | 06 |
Financial Highlights | 33 |
Statement of Value Addition | 35 |
Six Years at a Glance | 36 |
Vertical and Horizontal Analysis | 38 |
Graphical Presentation | 42 |
Corporate Governance | |
Company Information | 44 |
Terms of Reference of the Board Committees | 45 |
Gender Pay Gap Statement | 48 |
Code of Conduct | 50 |
Auditors' Review Report on Code of Corporate Governance | 52 |
Statement of Compliance with Code of Corporate Governance | 53 |
Guiding the Way Forward | |
Board of Directors' Profiles | 58 |
Chairman's Review | 60 |
Directors' Report on Unconsolidated Financial Statements | 62 |
Financial Statements of Highnoon Laboratories Limited | |
Independent Auditor's Report | 74 |
Unconsolidated Statement of Financial Position | 80 |
Unconsolidated Statement of Profit & Loss | 82 |
Unconsolidated Statement of Comprehensive Income | 83 |
Unconsolidated Statement of Cash Flows | 84 |
Unconsolidated Statement of Changes in Equity | 86 |
Unconsolidated Notes to the Financial Statements | 87 |
Consolidated Financial Statements | |
Group Directors' Report on Consolidated Financial Statements | 156 |
Independent Auditor's Report | 157 |
Consolidated Statement of Financial Position | 162 |
Consolidated Statement of Profit & Loss | 164 |
Consolidated Statement of Comprehensive Income | 165 |
Consolidated Statement of Cash Flows | 166 |
Consolidated Statement of Changes in Equity | 168 |
Consolidated Notes to the Financial Statements | 169 |
Secretarial Practices | |
Notice of Annual General Meeting (English & Urdu) | 240 |
Proxy form (English & Urdu) | 249 |
Ballot Paper | 253 |
257 | |
265 | |
267 |
Our Credo
Our purpose - enriching life - inspires us and guides us to consistently deliver quality products. We enrich life by providing innovative disease management solutions.
Our responsibility is to the healthcare providers and to the patients who trust our products. We meet the expectations, and to do so, we employ the best people and invest in their continuous development; we raise our standards and challenge ourselves; we improve our processes, and we adapt new technologies.
Our purpose to enrich life requires us to expand our offering and our reach. We are committed to deepen and widen our portfolios and maximise our coverage. We seek to balance patient welfare with our financial output. We keep our costs low to reduce the disease burden on the patient and generate adequate profits for our long-term viability.
Tausif Ahmad Khan
Chairman
4
Our Core Values
Reliability | Courage | Compassion |
Integrity | Customer Focus | Perseverance |
Our Aspiring Values
Innovation
Passion
5
Transforming Visions
into Reality
Through dedication, innovation and unwavering commitment, we have transformed bold visions into tangible realities. Our achievements stand as a testament to our relentless pursuit of excellence, guiding us towards a future filled with promise and possibility.
6
Enriching Life with
Fawad Khan
At Highnoon, success isn't just about career milestones-it's about living a fulfilling life. To reinforce this, we launched an inspiring campaign featuring Fawad Khan, encouraging individuals to set wellness goals alongside professional ambitions.
6The campaign garnered over
million views&
12million impressions
sparking meaningful conversations about prioritizing well-being.
PESA Award
For the second consecutive year, Highnoon has been honoured with the Pharma Export Award at the 7th Pharma Export Summit and Awards (PESA 2024).
The award, presented by Yousuf Raza Gillani, Chairman of the Senate of Pakistan, recognized our significant contributions to boosting pharmaceutical exports and enhancing Pakistan's global footprint.
This accolade reaffirms our unwavering focus on growth and our core mission of improving and enriching lives.
7
Celebrated 1 Billion Mark
A moment of pride for Highnoon as our products achieved the 1 billion mark. This incredible milestone
reflects the trust of healthcare professionals and patients in our commitment to excellence.
Highnoon Partners with IFC to Drive Digital Transformation
In a bold step towards redefining the future of healthcare, Highnoon has collaborated with the International Finance Corporation (IFC), and kicked off this partnership with a groundbreaking Digital Transformation Goal-Setting Workshop.
This initiative aligns seamlessly with Highnoon's broader mission to enrich lives, delivering better healthcare outcomes for patients and stakeholders alike. By integrating technology into its DNA, Highnoon is not just keeping pace with global advancements but solidifying its position as a forward-thinking leader in the pharmaceutical industry.
8
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |