Synthetic Products Enterprises : Transmission of Annual Report for the Year Ended 30-06-2023
September 25, 2023 at 12:15 am EDT
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Synthetic Products Enterprises Limited
Annual Report 2023
Synthetic Products Enterprises Limited
Annual Report 2023
COVER STORY
With over 41 years of experience and expertise, we have built a strong presence in manufacturing high-end products steered by our passion for the utmost excellence. We set out to provide our customers with superior products and unparalleled services through the latest technologies and skilled workforce. We are eager to develop innovative, sustainable and efficient solutions.
ABOUT THIS REPORT
We are pleased to present our Annual Report for the year ended June 30, 2023. The objective of this report is to provide all stakeholders with a transparent and balanced appraisal of the material events and challenges that the business faced during the year under review. This report should be read in conjunction with the full financial statements.
SCOPE AND LIMITATION OF THIS REPORT
This annual report is for the period from July 1, 2022 to June 30, 2023 and provides an account of the Company's operational, financial, social, economic and environmental performance as well as corporate governance.
ANNUAL FINANCIAL STATEMENTS
These financial statements are also available on our website (www.spelgroup.com) and provide a detailed insight into the financial position of the Company for the period under review.
FORWARD-LOOKING STATEMENTS
This report contains certain 'forward-looking statements' which are related to the future. These statements include known and unknown risks and opportunities, uncertainties and important factors that could turn out to be materially different from current expectations following the publications of these results. These statements are as of the date of this document. The Company undertakes no obligation to update publicly or release any provisions pertaining to these forward-looking statements.
FEEDBACK
We value the feedback of our stakeholders and use it to continuously improve our reporting and to ensure that we are sharing information about matters relevant to them. Your emails are welcomed at corporate@ spelgroup.com
CONTENTS
About The Report
01
Corporate Information
04
Vision
05
Company Profile
06
Geographical Presence
07
Code of Conduct, Culture and Ethical Principles
08
Core Values
09
Our Products
10
Organizational Chart
17
Key Performance Indicators
20
Awards and Recognitions
21
Calendar of Noteable Events
26
Strategy and Resource Allocation
28
Risks and Opportunities Report
32
Sustainability and Corporate Social Responsibility
35
Profile of the Directors
36
Governance
42
Company Significant Policies
46
DuPont Analysis
50
Analysis of Financial Information
52
IT Governance and Cybersecurity
54
Future Outlook
55
Stakeholders' Relationships and Engagements
56
Striving for Excellence in Corporate Reporting
58
SPEL's Business Model
60
Report of the Board Audit Committee
61
Chairman's Review Report
62
Directors' Report
63
Six Years Financial Information
69
Cash Flow Statement - Direct Method
71
Graphical Presentation
72
Horizontal Financial Analysis
74
Vertical Financial Analysis
75
Statement of Value Added
76
Independent Auditor's Review Report
77
Statement of Compliance with
Code of Corporate Governance
78
Financial Statement
Independent Auditor's Report
82
Statement of Financial Position
86
Statement of Profit or Loss
88
Statement of Comprehensive Income
89
Statement of Changes in Equity
90
Statement of Cash Flows
91
Notes to and Forming Part of the Financial Statements
92
Pattern of Shareholding
135
Notice of Annual General Meeting
138
Directors' Report (Urdu)
146
Proxy Form (English)
147
Proxy Form (Urdu)
149
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Disclaimer
Synthetic Products Enterprises Ltd. published this content on 25 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2023 04:14:03 UTC.
Synthetic Products Enterprises Limited is a Pakistan-based company, which is manufacturer of technology intensive engineering plastic and packaging products. The Company is engaged in the manufacturing and sale of plastic packaging for the food and fast-moving consumer goods industry, plastic parts for the automotive industry, and molds and dies. It offers reverse engineering, injection molding, sheet metal fabrication, thermoforming, and extrusion. Its operational capabilities span a range of processes, including product designing, molds and dies making, injection molding, thermoforming, blow molding, and extrusion. In addition, it offers value-added services, such as printing, labeling, shrink sleeve labelling, and stickering. Its product lines consist of automotive parts, plastic packaging, caps and closures, plastic crates, and jars and bottles. It is a supplier for assemblers and manufacturers of cars, tractors, motorcycles, electronic equipment and road construction equipment.
SYNTHETIC PRODUCTS ENTERPRISES LIMITED 