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Table of Content
Enabling Connected Future | 01 | Statement of Changes in Equity | 64 |
Trakker at a Glance | 02 | Statement of Cash Flow | 65 |
Group Portfolio | 04 | Notes to the Financial Statements | 66 |
Mission and Vision | 05 | Consolidated Financial Statements | |
Chairman's Review | 07 | Auditor's Report to the Members | 111 |
CEO Message | 08 | Consolidated Statement of | |
Product Portfolio | 09 | Financial Position | 117 |
Trakker App and Portal | 12 | Consolidated Statement of | |
Company Information | 13 | Profit and Loss Account | 118 |
Board of Directors | 14 | Consolidated Statement | |
Meet the Team | 15 | of Changes in Equity | 119 |
Life at TPL Trakker | 17 | Consolidated Statement of Cash Flow | 120 |
Trakker Middle East | 19 | Notes to the Consolidated | |
TPL Maps | 20 | Financial Statements | 121 |
Corporate Social Responsibility | 21 | Shareholders' Information | |
Financial Reports | 26 | ||
Notice of Annual General Meeting | 163 | ||
Horizontal Analysis Balance Sheet | 27 | Statement of Material Facts | 164 |
Horizontal Analysis Profit & Loss Account | 28 | Proxy Form | 179 |
Vertical Analysis Balance Sheet | 29 | ||
Vertical Analysis Profit & Loss Account | 30 | ||
Cash Flow Analysis | 31 | ||
Ratio Analysis | 32 | ||
Graphical Presentation of Key | |||
Financial Ratios | 33 | ||
Statement of Value Addition & | |||
its Distribution | 34 | ||
Directors' Report | 35 | ||
Economic Outlook | 35 | ||
Group Performance | 35 | ||
Future Outlook | 35 | ||
Statement on Corporate and Financial | |||
Reporting Framework | 38 | ||
Pattern of Shareholding | 39 | ||
Additional Information | 41 | ||
Acknowledgments | 42 | ||
Unconsolidated Financial Statements | |||
Auditor's Review Report | 52 | ||
Statement of Compliance with CCG | 53 | ||
Auditor's Report to the Members | 56 | ||
Statement of Financial Position | 62 | ||
Statement of Profit and Loss Account | 63 |
ENABLING
CONNECTED FUTURE
TPL Trakker has a rich history of innovation and leadership in the IoT and tracking solutions industry. Since our inception, we have been at the forefront of technological advancements, pioneering new ways to optimize tracking solutions and enhance security.
Our journey is marked by a commitment to excellence and a relentless drive to push boundaries. Explore our history to learn more about our milestones, achievements, and the vision that continues to propel us forward.
At TPL Trakker, our objective of "Enabling Connected Future" highlights our commitment to revolutionizing connectivity through seamless integration of cutting-edge solutions. By leveraging advanced telematics, IoT, and our data driven approach, we transform how businesses and individuals interact with their environment for enhancing safety, efficiency, and cost savings.
Our solutions deliver real-time data and actionable insights, connecting diverse systems into a connected network that empowers our customers to make informed decisions and proactively manage their assets. Through smart technologies and sustainable practices, we are dedicated to creating a smarter, greener world where our IoT innovations drive operational excellence and unlock new opportunities for both individual and B2B markets.
1 Annual Report | 2023-24
24 Years of Expertise | 8 Million+ |
in Connected Car, Digital Mapping, | Database of Geo-Coded Addresses |
and IoT Solutions | in Pakistan |
700+ | 90% |
Employee Base | Stolen Vehicle Recovery |
200+ | 550,000+ |
Vehicles Recovered | Units |
in the Last Year | Tracked |
Trakker at a Glance
A Reflection of Our Strength
TPL Trakker Ltd. stands as Pakistan's premier telematics and IoT service provider, specializing in data-driven solutions. Pioneering the field, we obtained the first vehicle tracking license in 1999, and since then we have been catering to the diverse needs of B2C and B2B clients across various industries nationwide. In 2012, TPL Trakker became the first publicly listed tracking company in Pakistan.
Annual Report | 2023-24 | 2 |
Our regional offices are strategically located to provide dedicated support and services to our clients across various regions.
Each office is staffed with experienced professionals who understand the local market dynamics and are committed to delivering tailored solutions that meet our clients' specific needs.
Geographical
Presence
Nationwide Reach with Comprehensive Geographical Coverage
Multan Office
House No. 2, Haider Street,
Shalimar Colony, Multan.
+92-61-4424346-4
Hyderabad Office
2nd Floor Plot # 15/5, Railway Cooperative Housing Society, Main Auto Bahan Road, Latifabad Hyderabad. +92-22-3411023
Corporate Office
Plot # 1-A, Sector # 24,
Korangi Industrial Area,
Karachi.
+92-21-111-000-300
Islamabad Office
10th Floor (South), ISE Towers,
55-B, Jinnah Avenue, Blue
Area, Islamabad.
+92-51-111-000-300
Lahore Office
Tower 75, 4th Floor, L Block, Gulberg III, Kalma Chowk, Main Ferozepur Road, Lahore. +92-42-111-000-300
Faisalabad Office
Office no. 2, 4th Floor Mezan Executive Tower Civil Lines, Faisalabad.
+92-41-111-000-300
+92-41-2610149-53
3 Annual Report | 2023-24
Group Portfolio
Our Legacy of Excellence; Driving Our Corporate Family Forward
TPL Trakker
- Trakker Middle East LLC
- Astra Location Services (Singapore) Pte.
▪ Astra Location Services (Pvt.) Ltd.
Rider Logistics Singapore
TPL Insurance
TPL E-Ventures
TPL LIfe
TPL Security Services
TPL Properties
- TPL Developments
- TPL Reit Fund-I
- TPL Logistic Park (Pvt.) Ltd.
- TPL Property Management (Pvt.) Ltd.
- TPL Reit Management Company Ltd.
▪ TPL Investment Management Ltd.
Annual Report | 2023-24 | 4 |
Our Commitment to Excellence and Future-Forward Technology
Our Mission
We lead Pakistan's telematics sector and specialize in IoT sector with innovative and tailored solutions, ensuring exceptional service.
Our Vision
To be the foremost global innovator in telematics and IoT solutions, transforming industries and enhancing lives through cutting-edge technology and unparalleled service excellence, creating a safer, more sustainable future.
5 Annual Report | 2023-24
Core Values
The Foundation of Our Success
Integrity
We maintain the highest standards of conduct, embracing honesty, productivity, and fairness in all aspects of our work. We fulfill our commitments as responsible citizens and dedicated employees.
Team Work
At TPL, we believe collaboration drives success. By fostering open communication and mutual support, we achieve collective goals. Together, we are stronger and deliver exceptional results.
Customer Centric
We prioritize our clients' needs and strive to exceed their expectations by delivering personalized and innovative solutions. Our commitment to exceptional service ensures we build lasting relationships based on trust and satisfaction.
Diversity & Inclusion
We prioritize equity, inclusion, and dignity for all in the workplace. We are committed to promoting gender equality & fostering an environment where diverse perspectives are valued and respected in all aspects of our work.
Value Creation
We focus on leveraging the talents of our employees and applying advanced tech and innovative solutions to create value for all stakeholders.
Commitment
We are dedicated to delivering excellence and consistently meeting our promises. Our unwavering commitment drives us to go above and beyond in serving our clients, partners, and community.
Annual Report | 2023-24 | 6 |
Chairman's Review
Mr. Jameel Yusuf S.St.
As of June 30, 2024
7 Annual Report | 2023-24
I am pleased to share with our esteemed members the performance of TPL Trakker Limited ("the Company") and its Board of Directors, whose capable leadership & strategic guidance have been instrumental in navigating the challenges posed by the country's economic downturn. Despite these adverse conditions, the Company has successfully achieved profitability for the financial year ended June 30, 2024, a testament to the resilience and dedication of its management and staff.
During the year, the Company received approval for a fresh equity injection in Trakker Middle East Limited, with UAE-based Gargash Group acquiring a 50.1% stake. This strategic partnership will accelerate growth in the Middle East and expand the reach of our innovative IoT products.
Our Board comprises of individuals with diverse skills, knowledge, and industry experience, providing invaluable support to the management team, which in turn, drives the consistent and positive growth of the Compa- ny. This enables the Board to consistently offer expert guidance & support to the management team. The Board is dedicated to upholding principles of transparen- cy, accountability, and sound corporate governance as essential components of fulfilling its responsibilities. The Board sub-committees have met regularly throughout the year, ensuring the proper implementation of audit processes, as well as human resource management & remuneration structures by the management.
On behalf of the Board, I would like to express our heartfelt appreciation to our valued shareholders, dedicated management team, employees, and all stakeholders of the Company. Your continued support and commitment have been instrumental in driving the Company's success. As we look to the future, we remain optimistic that the Company will continue to grow and prosper, paving the way for sustained profitability in the years to come.
CEO
Message
Mr. Amjad Waqar | As we conclude another outstanding year at TPL Trakker, |
I am excited to share our progress and future vision. The | |
2023-24 fiscal year has been marked by resilience and | |
innovation. During the year we have seen positive shifts in | |
the economic landscape, with declining inflation | |
bolstering investor confidence. | |
TPL Trakker has maintained a robust market presence | |
and continued to grow steadily. Our unwavering commit- | |
ment to innovation ensures that we remain leaders in | |
tracking services and IoT solutions. | |
To enhance the customer experience, we have revamped | |
our mobile app, resulting in a significantly improved | |
journey for our users. We take immense pride in our | |
vehicle recovery rate of over 90%, which reflects our dedi- | |
cation to safeguarding our customers' assets. This year, | |
we have also prioritized advancing our IoT solutions to | |
better meet the needs of our sector. Our growth has been | |
driven by customized solutions & strategic partnerships, | |
including collaborations with various government | |
entities. | |
In the UAE, Trakker Middle East (TME) has strengthened | |
its presence in fleet management and location-based | |
services. The company has successfully expanded its | |
footprint in the market, and Gargash Group's strategic | |
investment will further accelerate TME's growth | |
trajectory. | |
Looking ahead, we remain committed to IoT innovation | |
and are confident in our ongoing success, backed by the | |
dedication of our employees, the support of our partners, | |
and the trust of our customers. | |
Thank you for your continued confidence in TPL Trakker. |
Annual Report | 2023-24 | 8 |
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