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
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
