Organic Meat Company LimitedPSX: TOMCL

Transmission of Annual Report for the Year Ended 2024 06 30

· Issued by Organic Meat Company Limited

THE ORGANIC

MEAT COMPANY LIMITED

ANNUAL

REPORT 2024

CONTENTS

Pages

COMPANY PROFILE

3

VISION, MISSION AND VALUES

5

STRATEGIC OBJECTIVES

7

OUR PRODUCTS

8

EXPORT DESTINATIONS

9

ACCOMPLISHMENTS

10

COMPANY INFORMATION

11

DIRECTORS' PROFILE

14

CHAIRMAN'S REVIEW

17

DIRECTORS' REPORT

22

KEY FINANCIAL DATA

39

CORPORATE GOVERNANCE

40

INDEPENDENT AUDIT REPORT

48

FINANCIAL STATEMENTS

57

INVESTORS' RELATIONS

104

PATTERN OF SHAREHOLDING

106

NOTICE OF ANNUAL GENERAL MEETING

110

COMPANY PROFILE

The Organic Meat Company Limited (TOMCL) is one of the largest processors and leading exporters of quality red meat, as well as related meat by-products from Pakistan. The Company has developed an expertise to satisfactorily meet its customers' requirements by processing beef, mutton and camel meat in various forms, that include fresh- chilled, frozen, vacuum-packed, M.A.P. vaccum-packed and heat-treated meat products. As a result, TOMCL has one of the largest offerings of meat and offal products, as well as share of export markets from Pakistan. To serve it's purposes, the Company owns and operates state-of-the-art production facilities in Gadap and Korangi towns of Karachi.

Over the years, the Company has expanded into new export markets by innovatively focusing in development of new products which can differentiate the Company from its competitors, as well as earn healthy margins to drive its growth in terms of revenues and market share. The company has expanded its footprint and now is exporting to various CIS countries well as China. The company is also a pioneer in establishing the country's largest back-end animal fattening facility at the corporate level, to ensure consistent quality of meat to its customers.

TOMCL started off in 2010 as a private limited company in Karachi, with a single mission i.e., to provide the highest quality of meat and offal products to our customers around the globe. The Company's journey has been guided by it's mission and governing principles remains, which include valuing integrity, being innovative and to offer the finest quality of meat and allied offal products.

Our key values and work ethics revolve around producing quality products, maintaining a motivated workforce, and a safe working environment, while making a positive contribution to the local community and the less privileged sections of society.

03

The Company ensures that its production processes adhere to the industry's standard hygiene procedures, which are in compliance with ISO 9001-2015, HACCP for Food, GMP, Gulf Standards, SASO and various other international organizations. For the purpose, the Company is regularly certified and audited by various local and international private and governmental food safety and veterinary organizations.

The company ensure strict implementation of Halal principles for slaughtering and treatment of animals. The company is also certified and monitored by various Halal monitoring organizations, that include Jamia Markaz-eUloom-e-Islamia Pakistan and International Halal Center, Pakistan.

With a firm belief in the top quality of Pakistani cattle, which is grass-fed and produce meat of utmost tenderness, the Company is striving to open up new markets, of which China is a recent example. The Company's control processes strictly ensure that the animals are purchased from disease free zones of the country, while regular updates of any epidemic outbreaks are continuously monitored by our veterinary department to ensure procurement of healthy animals for production.

The Company enjoys being the pioneer in various innovations and achievements in the country's meat industry from Pakistan. In addition to being the first company to export frozen boneless beef meat to Saudi Arabia, the Company was also the first to initiate export of vacuum-packed boneless beef and fresh chilled bone-in beef via sea. Pioneering the export markets like China, Jordan, Albania, USA, Maldives and Vietnam, the Company enjoys the largest global market access from Pakistan.

The Company strives to further improve and be an outstanding example for the meat industry globally. The vision is based on promoting quality beef and mutton animals from Pakistan by adding value to the product to achieve better commercial gains for the country.

04

VISION

To excel in delivering value to customers as an innovative and dynamic meat and edible offal company that gets to the future first. Enhancing the product lines and quality of products along with vertical and horizontal integration in the red meat industry of Pakistan.

MISSION

We are committed to leadership in the meat industry of Pakistan through competitive advantage in providing the highest quality meat and edible offal products to our customers around the globe. Furthermore, we aim to incorporate professionally trained, high quality, motivated workforce, working as a team in an environment, which recognizes and rewards performance, innovation and creativity, and provides for personal growth and development.

We aim to assure access to long-term and cost effective sources with our thorough innovations in raw material procurement, production processes and transport techniques in order to achieve sustained growth in earnings in real terms. Last but not the least our motive of business revolves around high ethical business values, safe and friendly environment along with socially responsible business practices.

05

VALUES

The Organic Meat Company Limited ensures that it's values and ethics are followed across business, operations and all its shareholders.

Striving Excellence

Cohesiveness & Team Work

Respect & Equality

Integrity & Honesty

Innovation & Improvement

Corporate Responsibility

06

STRATEGIC OBJECTIVES

The Company's significant strategic objectives include contributing to the welfare of its customers by ensuring production of quality products and services that meet relevant international standards. Furthermore, increasing stakeholder value through continuous improvement of production processes and innovation in product offerings while ensuring optimum efficiency remains a key objective. TOMCL is also focused on the following objectives:

Compliance with Regulatory and Legal Requirements

Sustainable Supply of Raw Material

HSE Compliant

Explore Opportunities for Growth

Active Corporate Citizenship

Human Resource Development

07

OUR PRODUCTS

We offer a versatile portfolio of meat and offal products. The continued growth of our business is a testament of our well-rooted product knowledge and development which has led to our far-reaching success. Majorly, TOMCL is an export oriented company focusing on the following products:

BEEF

Bone-in Carcasses

Beef Boneless Compensated

Beef Boneless Cuts

Beef Cubes Bone-in

Beef Meat Delicacies

Exported In Fresh Chilled, Frozen Or Cooked Categories. Packed In Vacuum Pouches, Food Graded Plastic Or Food Friendly Cloth.

RED AND WHITE BEEF AND MUTTON OFFALS

Red Offal includes Liver, Kidney, Heart and Lungs exported in fresh chilled or frozen form in packaging as per customers'requirements. White Offal includes Tripe, Intestines, Omasum, Trachea, Pizzle and Aorta exported in salted and dried form or cooked frozen form in packaging as per customers' requirements.

MUTTON

Bone-in Carcasses

Mutton Boneless Cuts

Mutton Cubes Bone-in

Exported In Fresh Chilled, Frozen Or Cooked Categories. Packed In Vacuum Pouches, Food Graded Plastic Or Food Friendly Cloth.

CAMEL

Bone-in Carcasses

Camel Cubes Bone-in

Exported In Fresh Chilled and Frozen

Categories.

08

EXPORT DESTINATIONS

TOMCL enjoys the largest export network globally and has exported meat and offal products to the following countires since its beginning:

United Arab Emirates

Saudi Arabia

China

CIS region

Qatar

Maldives

Bahrain

Oman

Vietnam

Kuwait

Hong Kong

United State

Jordan

Azerbaijan

Albania

ColumbiaCanada

09

ACCOMPLISHMENTS

First Company from Pakistan to Export

Fresh Chilled Mutton Meat by Road in

2010

First Pakistani Company to

Export Frozen Boneless Beef Meat to

Saudi Arab via Sea in 2013

First Company From the region to Export

Vacuum Packed Fresh Boneless Beef Meat

to CIS states

Private

First Company in Pakistan providing Private

Labeling of Beef Products for International

Labeling

Clients

Pioneers of Export of Fresh Beef Carcasses

via Sea to Gulf States

Over PKR

11.80

Billion Turnover (2023-2024)

First Pakistani Company to export raw material for Pet Chews to United States of America in 2021.

First Pakistani Company to get approved & exported Frozen Beef Cooked Meat to People's Republic of China in 2024

Over PKR

18

15

497

Million Net Profit

Export Destinations

Years of

(2023-2024)

(2023-2024)

Production

10

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