SAKRAND SUGAR MILLS LIMITED
34th ANNUAL REPORT
FOR THE YEAR ENDED SEPTEMBER 30, 2022
CONTENTS | PAGE NO. | ||
Company Profile | 2 | ||
Notice of Annual General Meeting | 4 | ||
Vision and Mission Statement | 8 | ||
Directors' Report | 9 | ||
Chairman's Review | 19 | ||
Statement of Compliance with the Code of | |||
Corporate Governance | 20 | ||
Review Report to the Members on Statement of | |||
Compliance with Best Practices of Code of | |||
Corporate Governance | 22 | ||
Pattern of Shareholding | 24 | ||
Pattern of Shareholding as per requirements of | |||
Code of Corporate Governance | 25 | ||
Auditors' Report | 27 | ||
Statement of Financial Position | 31 | ||
Statement of Profit or Loss | 32 | ||
Statement of Comprehensive Income | 33 | ||
Statement of Cash Flows | 34 | ||
Statement of Changes in Equity | 35 | ||
Notes to the Financial Statements | 36 | ||
Six Years' Review at a Glance | 73 | ||
Form of Proxy | |||
1
COMPANY PROFILE | |
BOARD OF DIRECTORS | |
Mr. Saleem Zamindar | Chairman / Director |
Mr. Dinshaw H. Anklesaria | Director |
Mr. Shams Ghani | Director |
Mr. Muhammad Jamshid Malik | Director (Resigned on February 23, 2023) |
Miss. Sadia Moin | Director |
Mr. Muhammad Saleem Mangrio | Director |
Mr. Abdul Qayyum Khan Abbasi | Director |
Mr. Muhammad Omar Arshid | Director (Appointed on March 15, 2023) |
AUDIT COMMITTEE | |
Miss. Sadia Moin | Chairperson |
Mr. Saleem Zamindar | Member |
Mr. Muhammad Saleem Mangrio | Member |
HR COMMITTEE | |
Mr. Abdul Qayyum Khan Abbasi | Chairman |
Mr. Muhammad Omar Arshid | Member |
Mr. Shams Ghani | Member |
CHIEF EXECUTIVE OFFICER | Mr. Mansoor Afzal Subzwari |
CHIEF FINANCIAL OFFICER | Mr. Shams Ghani |
COMPANY SECRETARY | Mr. Muhammad Yousuf Qureshi |
2
BANKERS | Allied Bank Limited |
Bank Al Habib Limited | |
Bank Alfalah Limited | |
Habib Bank Limited | |
Meezan Bank Limited | |
MCB Bank Limited | |
National Bank of Pakistan | |
Soneri Bank Limited | |
Sindh Bank Limited | |
Summit Bank Limited | |
United Bank Limited | |
Al-Baraka Bank Pakistan Limited | |
AUDITORS | UHY Hassan Naeem & Co. |
Chartered Accountants | |
LEGAL ADVISOR | Mr. Muhammad Jamshid Malik |
REGISTRAR | M/s. JWAFFS Registrar Services (Pvt.) Ltd. |
407-408, Al Ameera Centre | |
Shahrah-e-Iraq, Saddar, Karachi-74400 | |
REGISTERED OFFICE | 41-K,Block-6, P.E.C.H.S., Karachi |
Phone. 0092-21-35303291-2 | |
www.sakrandsugar.com | |
FACTORY ADDRESS | Deh Tharo Unar, Taluka Sakrand |
District Shaheed Benazir Abad, Sindh |
3
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the 34th (Thirty Fourth) Annual General Meeting of the members of Sakrand Sugar Mills Limited (the Company) will be held on Tuesday May 09, 2023 at 3:30 pm at Institute of Chartered Accountants Auditorium Clifton Karachi to transact the following business.
- ORDINARY BUSINESS
- To confirm the minutes of the Annual General Meeting held on Wednesday, September 14, 2022.
-
To receive, consider and adopt the Audited Financial Statements of the Company for the year ended September 30, 2022 together with the Directors' report and the Auditors' report thereon.
As required under section 223(7) of the Companies Act 2017, Financial Statements of the Company have been uploaded on the official website of the Company (http://www.sakrandsugar.com). - To appoint auditors for the year ending September 30, 2023 and fix their remuneration. The Members are hereby notified that the Audit Committee and the Board of Directors have recommended the name of Parker Russell-A.J.S. Chartered Accountants to be the Auditors' for the year ending September 2023.
- OTHER BUSINESS
1. To transact any other business with the permission of the Chairman.
Board | |
Karachi, | Muhammad Yousuf Quraishi |
Dated: April 18, 2023 | Company Secretary |
NOTES:
-
Closure of Share Transfer Books:
The Shares Transfer Book of the Company will remain closed from April 29, 2023 to May 09, 2023 (both day inclusive). Transfers received in order at the office of our Registrar, M/s JWAFFS Registrar Services (Pvt.) Ltd. (407-408, Al Ameera Centre, Shahrah-e-Iraq, Saddar, Karachi), by the close of business (5:00 p.m.) on April 28, 2023 will be treated as being in time for the purposes of attending and voting at the meeting. - Participation in Annual General Meeting and appointing proxies:
A member of the company entitled to attend and vote at the AGM may appoint another member as his/her proxy to attend and vote on his behalf. Proxies in order to be effective must be received at the registered office of the company or shares registrar's office not later than 48 hours before the meeting.
4
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Sakrand Sugar Mills Ltd. published this content on 18 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 April 2023 08:02:07 UTC.