FEROZE1888 MILLS LIMITED ANNUAL REPORT 2022
VERILY, WITH EVERY
HARDSHIP
THERE IS
EASE
Al Quran 94:6
ABOUT COVER
Butterfly - From Hopeless End to Endless Hope
The lifecycle of a Butterfly symbolizes the importance of "surrender" and "trust" as part of the essential process of growth and renewal - growth demands a temporary surrender of security and trust on the magic of new beginnings.
"What the caterpillar calls the end of the world, the Master calls a Butterfly."
Al Quran - The Holy Book
It's a complete code of life - giving mankind amongst numerous other, the message of steadfastness, discipline, patience, generosity and Accountability.
"… If you disclose what is in your hearts or conceal it, HE shall hold you accountable for it…" Al Quran 2:284
VERILY, WITH EVERY
HARDSHIP
THERE IS
EASE
Al Quran 94:6
TABLE OF CONTENTS | |||
Company Overview and External Environment | Performance and Position | ||
Vision and Mission | 04 | Financials at a Glance | 112 |
Code of Conduct | 06 | Ratios | 114 |
Core Values - PROSPER | 08 | Horizontal and Vertical Analysis of Statement of Financial Position | 115 |
Ethics and Culture | 09 | Horizontal and Vertical Analysis of Statement of Profit or Loss | 118 |
Company Information | 10 | Summary of Cash Flow Statement | 121 |
Feroze1888 at a Glance | 11 | Statement of value addition and its distribution | 123 |
Business Model | 12 | DuPont Analysis | 124 |
Our Journey Continues… | 14 | Free Cash flows | 126 |
Product Gallery | 16 | Economic Value Added | 126 |
Geographical Spreads | 18 | Statement of Cash Flow - Direct Method | 127 |
Organizational Chart | 20 | Quarterly Performance Analysis | 128 |
Position within value chain | 22 | Composition of Local vs. Imported Material and Sensitivity Analysis | 129 |
Awards & Achievements | 24 | Analysis of the Financial and Non-Financial Performance | 130 |
Factors affecting the external environment (STEEPLE Analysis) | 26 | Share Price information and sensitivity analysis. | 134 |
Risks and Opportunities Report | 29 | ||
Competitive landscape and market positioning | 34 | Striving for Excellence in Corporate Reporting | |
SWOT Analysis | 35 | Integrated Reporting | 138 |
Disclosures Beyond BCR | 139 | ||
Strategy, Resource Allocation and Outlook | Statement of Unreserved Compliance | 139 | |
Strategy and Resource Allocation | 38 | Independent Auditor's Report to the Members | 140 |
Significant Plans and Decision | 40 | Financial Statements | 146 |
Major Capital Expenditures | 41 | ||
Forward looking statement | 42 | Stakeholders information | |
Calendar of Notable Events | 198 | ||
Governance | Pattern of holding of the shares held by the shareholders | 199 | |
Chairman's Review | 46 | Pattern of shareholding | 200 |
CEO's Message | 47 | Notice of Annual General Meeting (English) | 202 |
Directors' Profile | 48 | Notice of Annual General Meeting (Urdu) | 206 |
Directors' Report | 54 | BCR Criteria Content Index | 207 |
Directors' Report in Urdu | 63 | Proxy Form (English) | |
Governance Framework | 64 | Proxy Form (Urdu) | |
Disclosures on IT Governance and Cybersecurity | 74 | ||
Report of Audit Committee | 76 | ||
Review Report on CCG | 79 | ||
Statement of Compliance with CCG | 80 | ||
Sustainability and Corporate Social Responsibility | |||
About the report | 86 | ||
Leadership Statement | 87 | ||
Status of Adoption of CSR Guidelines | 88 | ||
Sustainability Strategy | 88 | ||
Sustainability at a Glance | 89 | ||
Certifications | 90 | ||
Materiality Assessment | 91 | ||
3Ps - People, Planet & Prosperity | 92 | ||
Economic, Environmental and Social Performance | 100 | ||
Sustainability & CSR Snapshot | 104 | ||
Stakeholders Engagement | 108 | ||
OURVISION
Our aim is to be a market leader in textile manufacturing with our strong commitment to 3Ps (People-Planet-Prosperity).We will prosper by creating unmatchable value for our global customers & stakeholders through our exceptional quality products & services.
OUR MISSION
We are a leading vertically integrated industry known for its state of the art machinery, infrastructure, standardized systems, production processes and adopting the ideology of 3Ps (People-Planet-Prosperity).We are committed to the ongoing learning, development & growth of our valued employees. Our focus is on building an environment of prosperity & gratification for all our customers & stakeholders through our operational excellence & solution based innovations.
Feroze1888 Mills Limited | Annual Report 2022 | ||
04 | 05 |
CODE OF CONDUCT
Business Ethics
Feroze1888 is committed to conduct its business in an honest, ethical and legal manner.The management condemns corrupt and fraudulent practices and ensures transparency, integrity and honesty in all aspects of work.
Compliance with Laws & Regulations
The Company is committed to comply and take all required actions for compliance with all applicable laws, rules and regulations of state or local jurisdiction in which the Company conducts business. Every director and employee, no matter what position he or she holds, is responsible for ensuring compliance with applicable laws.
Commitment & Accountability - Safeguarding Organization's Interest
It is expected from every employee that he/she remains honest & committed with his/her work at all times. Employee is not only expected to own the entire process of his/her job but also uphold the true spirit of accountability; in that, protecting the Company's assets, safeguarding the Company's interest, avoiding conflict of interest & ensuring that we do not involve in any unlawful activity even after office hours that may ruin the organization's reputation is emphasized.
Spreading grapevine/rumors, exchanging or sharing any information within the organization or outside either by word of mouth, email, text message or social media; which may create chaos and portray the organization in a bad light, are all deemed as breach of commitment.
ZeroTolerance for Harassment
Harassment in any form including verbal / emotional (e.g. making or using derogatory comments, name calling, racial jokes etc.), physical (e.g. assault, impeding, blocking movements etc.), sexual (e.g. touching, leering, making inappropriate gestures, suggestive objects or pictures, cartoons or posters etc.) is strictly prohibited.
Gift & Entertainment Policy
Gifts / entertainment / gratitude of any kind, that are offered by vendors, suppliers, current & potential employees, potential vendors and suppliers, or any other individual or organization, no matter the value will not be accepted by any employee, at any time, on or off the work premises as a result of providing / receiving any favor (whether justified or unjustified).
Confidentiality of Information
It is the responsibility of every employee to maintain confidentiality of information (during and after the employment term) related to Feroze1888 Mills that he/she may come across in any form as a result of his position or interactions. He / she should refrain from discussing any confidential business matters to outsiders or even insiders to whom the matter does not relate.
Intellectual Property
All employees are responsible and accountable for the corporate information and resources entrusted to them. Due diligence & care must be exercised to ensure the security & integrity of these corporate resources included but not limited to corporate data & corporate information system.
Non-Discrimination
The Company believes in creating an encouraging working environment which is free from discrimination. The Company also ensures that employees remain motivated and productive through the provision of equal growth opportunity.
Equal Employment Opportunity
The Company believes in providing equal opportunity for employment.The Company policies in this regard have to be complied with and no discrimination upon race, religion, age, national origin, gender, or disability is acceptable.
Corporate Social Responsibility
The Company is committed to carry its business in a sustainable manner and promote preservation and sustainability of the environment.
06 Feroze1888 Mills Limited
Annual Report 2022 07
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Feroze1888 Mills Ltd. published this content on 03 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 21:20:03 UTC.
