ANNUAL REPORT 2025
SYMBOL OF PACKAGING EXCELLENCE
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From concept to creation, we highlight your packaging ambitions.
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PREFACE
As we embark on the journey through the Annual Report 2025, we invite you to join us in envisioning the future of packaging.
Established in 1980, Merit Packaging Limited has been a beacon of innovation and excellence in the printing and packaging industry in Pakistan. Our dedication to delivering quality products and tailored solutions has forged enduring partnerships and propelled us to the forefront of the industry.
At Merit Packaging Limited, we believe in embracing the future with optimism and ingenuity. Guided by our theme, "Complementing your packaging ambitions with our packaging expertise," we are committed to pushing the boundaries of what is possible, anticipating the evolving needs of our clients, and delivering solutions that inspire and create value.
As an ISO-certified public limited company and a proud member of the Lakson Group of Companies, we remain steadfast in our commitment to upholding the highest standards of corporate governance and integrity. But beyond that, our success is built on the foundation of human connections, collaboration, and shared aspirations.
In this annual report, we invite you to journey with us as we explore the possibilities of tomorrow, driven by our passion for creativity and our resolute dedication to our clients and stakeholders. Together, let us shape the future of packaging, one ambition at a time.
ANNUAL REPORT 2025
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TABLE OF CONTENTS
INTRODUCTION
Chairperson's Profile 07
Our Vision and Misson 09
Our Values 10
Organizational Structure 11
Our Division 13
Offset Packaging
Flexible Packaging
CULTIVATING BRILLIANCE
Nurturing Excellence 34
Nurturing our Human Capital/Treasuring our Talent
Rolling out a Vending Facility
Blooming Health (Personal Hygiene Session)
Philanthropic Corporate Efforts/Community Engagement
Promoting a Vibrant, Inclusive, and Growthoriented Environment
Corporate Employment Branding/Employer Marketing Strategy/Talent-Centric Branding
Our People 40
GOVERNANCE & FINANCIAL DATA
Directors' Profiles 43
Corporate Calendar 56
Corporate Information 57
Notice of Annual General Meeting 58
Other Financial Information 62
Chairman Review (English & Urdu) 70
Directors' Report (English & Urdu) 72
Statement Of Compliance & Independent
Auditor's Review Report thereon 82
Financial Statements 85
Pattern of Shareholding 124
Form of Proxy (English & Urdu) 127
Ballot Paper for Voting Through Post 129
ANNUAL REPORT 2025
Iqbal Ali Lakhani
CHAIRMAN
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Mr. Iqbal Ali Lakhani
has over 46 years of top management experience in group companies in finance, marketing, manufacturing industry and government relations. His special interests include marketing, finance, total quality management and re-engineering.
Mr. Iqbal Ali Lakhani is the Chairman of the Corporate Boards of 4 Lakson Group Companies which are listed on the Stock Exchange covering a diversified range of businesses such as paper & paperboard, soap, detergents, toothpaste, printing & packaging and insurance. The spectrum of 36 unlisted public & private Companies includes Surgical Instruments, Media (T.V. & Print), software development & consultancy, travel & tourism, aviation industry, investment & mutual funds, ISP-broad band & Data Centre, Business Process Outsourcing house into call Centre & I.T.
He is also the Trustee of Hasanali & Gulbanoo Lakhani Foundation (A Lakson Group Welfare Trust), providing educational and medical facilities to the needy and deserving persons and helping in other social activities. He is also the Trustee of Lakson Medical Trust and R & I Trust.
Recognition at National Level:Awarded Sitara-e- Imtiaz by Govt. of Pakistan for his philanthropy work (2019).
Important Positions Held:Charter Member of The Indus Entrepreneurs
Member Board of Trustees of the Layton Rahmatullah Benevolent Trust.
Held the position of Director of Pakistan Business Council
Chairman Cigarette Manufacturers Association of Pakistan,
Chairman Aga Khan Economic Planning Board for Pakistan
Vice President American Business Council of Pakistan.
Education:Acquired his Bachelor Degree from the University of California - Berkeley.
Remained member of the PSI-National Accounting Fraternity; Honor Student's Society and Phi Beta Kappa.
Recipient of departmental award for outstanding undergraduate achievement.
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VISION
"To emerge as the preeminent force in the packaging industry, harmonizing our clients' packaging aspirations with our unparalleled expertise, driving innovation, sustainability, and value creation."
MISSION
"At Merit Packaging Limited, we are dedicated to complementing our clients' packaging ambitions with our unrivalled expertise and commitment to excellence. We strive to:
Collaborate closely with our clients to understand their unique packaging needs and deliver tailored solutions that exceed expectations.
Infuse each packaging solution with ingenuity, precision, and meticulous attention to detail, ensuring both product protection and narrative allure, resulting in consumer engagement and loyalty.
Cultivate a culture of continuous learning, creativity, and collaboration, empowering our team members to thrive personally and professionally.
Uphold the highest standards of integrity, transparency, and ethical conduct in all our interactions, building trust and fostering enduring partnerships with our clients, suppliers, and communities.
Champion diversity and inclusion, fostering a workplace where all voices are heard, valued, and respected.
Embrace sustainability as a core value, integrating eco-conscious practices into our operations and product offerings, to uphold environmental stewardship and social responsibility.
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OUR VALUES
Our values and priorities have helped our business to continue to forge ahead during the unprecedented challenges of the past year.
INNOVATION INTEGRITY DIVERSITY & INCLUSION
TEAM WORK SUSTAINABILITYV PARTNERSHIP
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ORGANIZATIONAL STRUCTURE
Board of Directors HR and Remuneration Committee Corporate & Legal CEO
Audit Committee
& PlanningMaintenance Finance Marketing Procurement
Internal Audit HR Admin IT Production Gravure Offset Quality Assurance DispatchANNUAL REPORT 2025
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FLEXIBLE PACKAGING DIVISION
Our Flexible Packaging Division complements the strengths of our Offset Division and reflects our dedication to delivering innovative, high-quality packaging solutions. With state-of-the-art equipment and advanced technology, this division is designed to meet diverse client requirements with precision, efficiency, and consistency.
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PRINTING CAPABILITIES
We are equipped with a high-speed RS-5002 Rotogravure Printing Machine from BOBST ITALIA, offering 9-color printing at a speed of
350 meters per minute. This machine ensures excellent print clarity, vibrant color reproduction, and seamless output for a variety of flexible packaging materials.
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LAMINATION
Our lamination section features two high-performance Nordmeccanica machines from Italy:
Combi 3000 - Capable of both solvent-based and solvent-less lamination processes, offering flexibility in bonding techniques.
Simplex - Specially used for solvent-less lamination, ensuring strong adhesion for high-barrier packaging.
These machines enable us to provide customized lamination solutions based on product requirements and end-use applications.
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SLITTING AND REWINDING
To maintain precision and quality in roll finishing, we operate the following machines:
Atlas Titan (SR-09-DT) - A high-speed slitter running at 1,000 meters per minute, ideal for large-scale production.
HCI Slitter (Taiwan) - With an operating speed of 300 meters per minute, suited for medium-scale production.
HCI Rewinder - Ensures smooth rewinding of finished rolls with accurate alignment and tension control.
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FINAL PACKAGING
Our packaging process ensures that all finished products are packed efficiently and securely, maintaining the quality and integrity of each roll for delivery and storage.
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OFFSET DIVISION
At Merit Packaging Limited's Offset Division, we go beyond traditional limits, embracing a forward-thinking and technology-driven mindset to realize our objectives.
Our investment in cutting-edge technology and our steadfast dedication to innovation reinforce our commitment to delivering packaging solutions that not only meet but consistently exceed industry expectations-setting new standards in excellence.
We take pride in offering a comprehensive range of advanced printing and packaging services, thoughtfully tailored to meet the diverse needs of our clients across various sectors.
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PREPRESS
Our Prepress Department features the latest Kodak thermal plate-setter, celebrated for its unmatched precision, operational stability, and dependable performance.
This state-of-the-art technology ensures minimal plate remakes, reduces the need for variable adjustments, and significantly elevates overall print quality, enabling us to maintain the highest standards of consistency and efficiency in every project.
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COLOR MANAGEMENT
The latest integration of GMG Color Management software has significantly enhanced our ability to achieve exceptional color accuracy and consistency across all print jobs.
This advanced technology not only optimizes ink usage and elevates print quality, but also minimizes errors and streamlines production-driving greater efficiency and setting a new standard of excellence within the industry.
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PRINTING
Our printing facility is equipped with four state-of-the-art machines, including industry-leading Heidelberg and Komori presses, capable of delivering up to 18,000 impressions per hour.
These high-performance machines have been expertly customized to produce a wide range of innovative and specialty printing effects, ensuring our packaging designs are not only visually striking but also highly engaging, bringing our clients' visions to life with precision and flair.
ANNUAL REPORT 2025
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