Transmission of Annual Report for the Year Ended December 31, 2024

Cover Story

Every challenge presents an opportunity to unlock new possibilities. Whether in business, personal growth, or innovation, stepping beyond comfort zones often leads to breakthroughs.

The key lies in embracing change, staying open to new ideas, and continuously learning. By shifting perspectives and taking bold steps, we uncover hidden opportunities that propel us forward. Growth isn't about waiting for the right moment-it's about creating it.

Content

Our History

The story of 'Servis' begins in late 1930s when a group of three young graduates from college, started exploring the possibility of doing business together instead of aspiring for secured jobs. These determined young men, Chaudhry Nazar Muhammad, Chaudhry Mohammad Husain, both hailing from villages in Gujrat and Chaudhry Muhammad Saeed from the neighboring district of Gujranwala, had scarce capital as they came from families with modest means. They pooled their personal savings, and started a small businesses of making Mosquito nets, minor steel products, leather chappals and eventually travel bags, hand bags and holdalls, made of canvas and leather largely for supply to the army. Their promising business, operating out of an apartment with four small rooms in Gawalmandi, Lahore, received a serious setback at the end of World War II when the army stopped purchases and again in 1947 when subcontinent was partitioned into Pakistan and India. Most of their market was lost as it was based in Indian Cities of Delhi, Bombay, Calcutta, Madras and Cawnpur. The money thus lost was never recovered. They were using a neutral name of Service Limited for their products, not revealing any particular religious identity under intense competition from people of other faiths.

After independence, they started their business afresh and this time with production of slippers, commonly called chappals in Pakistan. The limitation of financial resources did not deter them. They had experience of handling leather and canvas as well as handmade chappals. They established Service industries in 1953, converted to a Public Limited Company in 1959 and ultimately listed on the stock exchange in 1970.

In 1954, they installed a shoe manufacturing plant at industrial area in Gulberg, Lahore, and started production in the same year. The industry started manufacturing various types of shoes. A few years earlier retail outlet had been started at the Mall Road under banner of Hilal Store, later converted into a Servis store.

At Gujrat, they acquired large piece of land and established one of the biggest industrial complexes in Punjab, manufacturing leather and canvas footwear, canvas fabric, textile spinning and eventually also bicycle tires and tubes.

Humility, fairness and diligence were the core values held by our founders and these led to the phenomenal success of the group over the years. They were hugely focused on the impact of their enterprise on society as a whole. They remained extremely particular about payment of taxes to the national exchequer, and in looking after the interests of shareholder and workforce alike. The importance to society of creating employment opportunities, improve employees' qualifications, develop backward areas and establish an export market stemmed from their vision and directed their growth.

In the public sphere, they were the pioneers and founders of the Lahore Chamber of Commerce and Industry, the Federation of Chambers of Commerce and Industry and the Lahore Stock Exchange.

Ch Nazar Muhammad and Ch Muhammad Saeed were both Presidents of the Lahore Chamber, and Ch Nazar Muhammad also served as the President of the Federation of Chambers of Commerce and Industry as well as Chairman of the newly established Lahore Stock Exchange. He founded the Businessmen Hospital Trust and through it became the founding Chairman of the Shalamar Hospital.

Ch Mohammad Husain was a great promoter of cricket and became President for the Board of Control for Cricket in Pakistan.

Today, the Servis group has transferred into 5 main companies namely Service Industries Limited, Service Long March Tyres (Pvt) Limited, Service Global Footwear Limited, Service Tyres (Pvt) Limited and Service Retail (Pvt) Limited selling quality Footwear in local and export, all steel truck and bus radial tyres, Agri Tyres and tubes, 2 wheeler and 3 wheeler tyres and tubes, a retail network of footwear operating with the brand of Servis. Servis group is the leading exporter of footwear, tyres and tubes from Pakistan. Our manufacturing facilities are spread over four locations, with three in Punjab and one in Sindh.

A humble venture of three friends has grown into a group that employs almost fifteen thousand people and makes a difference in the lives of millions of people every day.

Our Vision and Mission

VISION

To become the region's leading supply chain company by achieving consistent and sustained growth and delivering value to its business partners and its people.

MISSION

Strive continuously to exceed customer expectations in quality, delivery and service by developing top talent in the company and in its supply chain.

To become the most trusted footwear atelier for our partners around the world through a culture of inclusivity, innovation, transparency and agility; and to deliver the highest value to our employees, shareholders and society.

To add value to our partners around the world by delivering the finest quality through continuous improvement.

Company Information

Company Secretary Mr. Waheed Ashraf Audit Committee

Mr. Abdul Rashid Lone Chairman

Mr. Omar Saeed Member

Ms. Maleeha Humayun Bangash Member

Human Resource and Remuneration Committee

Mr. Azmat Ali Ranjha Chairman

Mr. Hassan Javed Member

Mr. Omar Saeed Member

Bankers

MCB Bank Limited Habib Bank Limited Faysal Bank Limited Soneri Bank Limited Allied Bank Limited Askari Bank Limited Meezan Bank Limited MCB Islamic Bank Limited Habib Metropolitan Bank Standard Chartered Bank (Pakistan) Limited

Dream big. Start small.

Act now.

Geographical Presence

Our products are available in more then twenty countries.

Canada U.S.A

Denmark Holand Ireland U.K Belgium

Aust France

Switzerl Spain

Panama Chile