Cover Concept
As a futuristic Company we continue to map our 2023 journey towards driving innovation, pushing boundaries, and embracing change. Our team is devotedly taking up the forward-thinking approach, that will help continue us to achieve the goal to drive towards a prosperous and cutting-edge future.
Company Profile
Honda | Atlas Cars (Pakistan) | Limited is | more | than | 530,000 | cars in Pakistan. | generation, BR-V and HR-V. The Honda | |||
a joint venture between Honda Motor, | The | Company consistently | increased | City 2021 gives the best of driving pleasure | ||||||
Japan, and the Atlas Group, Pakistan. The | production with the progress of the car | including SRS airbags for both driver and | ||||||||
Company is a public limited; also listed on | market and to meet the growing customer | co-drivers' safety as a standard feature | ||||||||
Pakistan Stock Exchange Limited. | demand. A major plant expansion was | in all the variants. Moreover, Honda has | ||||||||
done in 2006 and the production capacity | taken care of the overall performance and | |||||||||
The Company was incorporated on | was increased to 50,000 units / year on | fuel efficiency in the 6th generation model | ||||||||
November 04, 1992, and the joint venture | double shift basis. | which reflects in driving the car, as this car | ||||||||
agreement was signed on August 05, | has become more comfortable to drive in | |||||||||
1993. The groundbreaking ceremony was | The percentage of local parts conforms to | city traffic than ever before. | ||||||||
held on April 17, 1993, and within a record | the Government's policy. Local vendors | |||||||||
time of 11 months, the construction and | are continuously patronized to develop | The new 11th-generation Honda Civic | ||||||||
erection of machinery were completed. | parts locally. The quality of local parts is | 2022 was launched in Pakistan during | ||||||||
The first car rolled off the assembly line | thoroughly checked to meet stringent | March 2022, it comes with all the latest | ||||||||
on May 26, 1994. The official inauguration | international standards of Honda. | safety features. The RS variant 2022 comes | ||||||||
was done by the then President of Pakistan, | with additional safety features termed as | |||||||||
Sardar Farooq Ahmad Khan Leghari. Mr. | Honda always strives to provide | Honda Sensing which includes Collision | ||||||||
Nobuhiko Kawamoto, President of Honda | outstanding services and products to our | Mitigation Braking System, Adaptive Cruise | ||||||||
Motor, Japan, and the late Mr. Yusuf H. | valued customers. In addition, the Company | Control, Lane Keep Assist System, Road | ||||||||
Shirazi, Founder of Atlas Group were | regularly conducts | Service | Campaigns | departure mitigation system, Auto High | ||||||
also present to grace the occasion. The | to facilitate customers' need for service. | Beam, Lead Car Departure Notification | ||||||||
Company enlisted on the Karachi & Lahore | This has given our customers absolute | System, and Walk Away auto-locking. | ||||||||
Stock Exchanges (now Pakistan Stock | confidence in our cars which is clear from | Performance ratings for the Honda Civic | ||||||||
Exchanges) and Initial Public Offer (IPO) | the ever-increasing sales volumes. | 2022 are among the best in the class. The | ||||||||
was made in November 1994. | car is well-handled, rides in a composed | |||||||||
It is the constant endeavor of Honda Atlas | manner, and has a powerful engine lineup. | |||||||||
On July 14, 1994, car bookings started | Cars (Pakistan) Limited to achieve No.1 | |||||||||
at six dealerships in Karachi, Lahore, and | Customer | satisfaction. | The | Company | Honda BR-V is available in a wide range | |||||
Islamabad. Since then, the dealership | is committed to meeting customer | of colors with advanced technological | ||||||||
network has expanded and now the | expectations and providing good value | features. | ||||||||
Company has thirty-eight 3S (Sales, | for money. The Company believes that | |||||||||
Service, and Spare Parts), twenty 2S | human beings are born to think, create and | Recently, Honda expanded its locally | ||||||||
(Service and Spare Parts), and five 1S | express their individuality. Thus, realizing | manufactured model lineup. Honda HR-V | ||||||||
(Spare | Parts) | authorized | dealerships | their hopes and dreams, we strive to attract | was launched on October 21st 2022 in two | |||||
networks in all the major cities of Pakistan. | individuals who share this belief and who | variants and in a wide range of colors with | ||||||||
All dealerships are constructed in | will respect one another's individuality. We | advance technological features. | ||||||||
accordance with the standards defined by | pursue to foster an atmosphere of mutual | |||||||||
Honda the world over. | trust & fairness in which our associates | Honda Atlas Cars Pakistan Limited | ||||||||
can realize their full potential and create | (HACPL) marked the rollout of 500,000 | |||||||||
We started production in 1994, with the | new values for the society by following the | vehicles at the Manga Mandi plant in | ||||||||
launch of the 5th generation of the Honda | Honda Philosophy. | Lahore. This outstanding achievement | ||||||||
Civic model in Pakistan. Subsequently, the | is a sign of Pakistani customers' trust in | |||||||||
Company enriched the product line with | Currently, we are not only offering imported | Honda Cars (Pakistan). The Company | ||||||||
the launch of Honda City in 1997, Honda | models of Honda Accord & Honda CR-V | will continue to play an important role in | ||||||||
BR-V in 2017 and Honda HR-V in 2022. | but have also introduced locally | the country's automotive business and | ||||||||
Since the commencement of production, | manufactured New Honda City 6th | demonstrates a commitment to long-term | ||||||||
the Company | has produced and sold | generation, | New | Honda | Civic 11th | investment in the country. | ||||
Contents | 06 | Vision Statement |
Management / Company's Structure | ||
08 | Company Information | |
10 | Board of Directors | |
14 | Key Management | |
18 | Organization Chart | |
20 | Corporate Governance (Organization Structure) | |
22 | Business Principles | |
25 | Honda Philosophy | |
28 | Chronicle of Events |
Information & Review Reports
30 Pattern of Shareholding
- Investor Relations Information
- Significant Events
- Chairman's Review
- Directors' Report
- Statement of Compliance with Listed Companies (Code of Corporate Governance) Regulations, 2019
- Independent Auditor's Review Report
Financial Analysis
- Revenue Application
- Value Added and its Distribution
- Financial Highlights
- Horizontal Analysis
- Vertical Analysis
Auditor's Report & Financial Statements
- Independent Auditor's Report
- Statement of Financial Position
- Statement of Profit or Loss
- Statement of Comprehensive Income
- Statement of Changes in Equity
- Statement of Cash Flows
- Notes to and Forming Part of the Financial Statements
Notice of Meeting and Reports
- Notice of Annual General Meeting
- Honda Dealers' Network
- Directors' Report (Urdu)
- Chairman's Review (Urdu)
- Form of Proxy
Management / | Information & | 3 Financial Analysis | 4 | Auditor's Report & | 5 | Notice of Meeting / | Management / | Information & | 3 Financial Analysis | 4 | Auditor's Report & | 5 | Notice of Meeting / |
1 Company's Structure | 2 Review Reports | Financial Statements | Reports | 1 Company's Structure | 2 Review Reports | Financial Statements | Reports |
Vision Statement
Striving to be a Company that society wants to exist by sharing joys with people throughout the world.
Creating products that maximize the joy of customers with speed, affordability and low CO2.
6
Annual Report 2023 | Driving towards the Future |
7
Management / | Information & | 3 Financial Analysis | 4 | Auditor's Report & | 5 | Notice of Meeting / |
1 Company's Structure | 2 Review Reports | Financial Statements | Reports |
Company Information
Management / | Information & | 3 Financial Analysis | 4 | Auditor's Report & | 5 | Notice of Meeting / |
1 Company's Structure | 2 Review Reports | Financial Statements | Reports |
Board of Directors
Mr. Aamir H. Shirazi
Chairman
Mr. Takafumi Koike
President & CEO
Mr. Saquib H. Shirazi
Director & Senior Advisor
Mr. Shinobu Nakamura
Executive Director & VP (P)
Mr. Nobuyoshi Noda
Director
Mr. Gaku Nakanishi
Director
Mr. Muhammad Naeem Khan
Independent Director
Mr. Ariful Islam
Independent Director
Ms. Rie Mihara
Independent Director
Audit Committee
Mr. Muhammad Naeem Khan
Chairman
Mr. Saquib H. Shirazi
Member
Mr. Nobuyoshi Noda
Member
Mr. Gaku Nakanishi
Member
Executive Committee
Mr. Takafumi Koike
Mr. Maqsood-ur-Rehman Rehmani
Mr. Shinobu Nakamura
Human Resource and Remuneration Committee
Mr. Muhammad Naeem Khan
Chairman
Mr. Saquib H. Shirazi
Member
Mr. Takafumi Koike
Member
Mr. Shinobu Nakamura
Member
Mr. Nobuyoshi Noda
Member
Company Secretary & Vice President
Mr. Maqsood-ur-Rehman Rehmani
Chief Financial Officer
Mr. Hamood-ur-Rahman Qaddafi
Head of Internal Audit
Mr. Imran Farooq
Bankers
Allied Bank Limited
Citibank N.A.
Deutsche Bank AG
Faysal Bank Limited
Habib Bank Limited
MCB Bank Limited
Meezan Bank Limited
National Bank of Pakistan
Soneri Bank Limited
Standard Chartered Bank (Pakistan) Limited
United Bank Limited
Auditors | Registered Office | Regional Offices |
M/s A. F. Ferguson & Co. | 1-Mcleod Road, Lahore, Pakistan. | Lahore |
Chartered Accountants | Tel: +92 42 37225015-17 | Asia House, |
Fax: +92 42 37233518 | 19-C&D, Block L, Gulberg III, | |
Legal Advisor | Main Ferozepur Road. | |
Bukhari Aziz & Karim | Factory | Tel: +92 42 35694851-53 |
Fax: +92 42 35694854 | ||
Axis Law Chambers | 43 Km, Multan Road, | |
Manga Mandi, Lahore, Pakistan. | Karachi | |
Tel: +92 42 35384671-80 | 5th floor, | |
Fax: +92 42 35384691-92 | Tower-A, Technology Park, | |
E-mail: info@honda.com.pk | Shahrah-e-Faisal, | |
Tel: +92 21 32785411-1 |
8
Annual Report 2023 | Driving towards the Future |
9
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Honda Atlas Cars (Pakistan) Limited published this content on 02 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2023 07:00:01 UTC.