MS AR 2018 (1)

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GLOSSARY OF TERMS AGM Annual General Meeting AoP Association of Persons ATL Active Tax Payer List CDC Central Depository Company of Pakistan Limited CDS Central Depository System CNIC Computerized National Identity Card CEO Chief Executive Officer CFO Chief Financial Officer CSR Corporate Social Responsibility Commission/ SECP Securities and Exchange Commission of Pakistan Companies Act / Act Companies Act, 2017 EPS Earnings per share FBR Federal Board of Revenue FED Federal Excise Duty FY Financial Year GDP Gross Domestic Product GoP Government of Pakistan HR Human Resource IBAN International Bank Account Number ICAP Institute of Chartered Accountants of Pakistan ICMAP Institute of Cost and Management Accountants of Pakistan IPO Initial Public Offering IT Information Technology ITO Income Tax Ordinance, 2001 IFRSs International Financial Reporting Standards LESCO Lahore Electric Supply Company KG Kilo Gram MT Metric Ton MS Mild Steel MISIL Mughal Iron & Steel Industries Limited MK Monthly Kibor MW Mega Watt NBV Net Book Value PACRA Pakistan Credit Rating Agency PKR / Rs. Pakistan Rupees PSX / Exchange / Securities Exchange Pakistan Stock Exchange Limited Stock Exchange SBP State Bank of Pakistan SNGPL Sui Northern Gas Pipeline Limited Securities Act Securities Act, 2015 US$/ USD United States Dollar 154 MUGHAL IRON & STEEL INDUSTRIES LIMITED
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COVER STORY Building a strong path
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KEY FIGURES Sales Revenue (2017: 18
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CONTENTS 02 DIRECTORS’ REPORT 24
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01 • COMPANY OVERVIEW Vision, Mis
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VISION STATEMENT To be a leading co
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FAIRNESS We are devoted to implemen
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EQUAL EMPLOYMENT OPPORTUNITIES AND
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PRODUCT PORTFOLIO The Company’s p
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A SIMPLE, EFFECTIVE AND ACHIEVABLE
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BOARD OF DIRECTORS Mirza Javed Iqba
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ORGANOGRAM OF COMPANY SHAREHOLDERS
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CALENDAR OF MAJOR EVENTS 2017-2018
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MIRZA JAVED IQBAL Chairman / Non -
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MR. FAZEEL BIN TARIQ Non - Executiv
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CHAIRMAN’S LETTER TO THE SHAREHOL
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CHIEF EXECUTIVE OFFICER’S REMARKS
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DIRECTORS’ REPORT TO THE SHAREHOL
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40 MUGHAL IRON & STEEL INDUSTRIES L
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03 • REVIEWS & REPORTS Additional
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DESCRIPTION OF ENTITY’S RESOURCES
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ANALYSIS OF PROSPECTS OF THE ENTITY
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BOARD COMMITTEES Audit Committee Co
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ANNUAL EVALUATION OF BOARD PERFORMA
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WHISTLE BLOWING POLICY As part of o
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STAKEHOLDERS’ ENGAGEMENT The deve
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• The internal audit function has
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HORIZONTAL ANALYSIS Statement of Fi
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SUMMARY OF STATEMENT OF CASH FLOWS
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ANALYSIS OF FINANCIAL RATIOS Ratio
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DUPONT ANALYSIS Year Return on Equi
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STATEMENT OF CASH FLOWS DIRECT METH
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GRAPHICAL ANALYSIS Market Ratios Ru
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DISTRIBUTION OF WEALTH 2018 2017 Rs
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05 • FINANCIAL STATEMENTS Indepen
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STATEMENT OF COMPLIANCE WITH LISTED
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GLOBAL PRESENCE LOCAL EXCELLENCE FA
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internal control. • Obtain an und
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STATEMENT OF PROFIT OR LOSS & OTHER
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STATEMENT OF CASH FLOWS FOR THE YEA
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i) Property, plant and equipment an
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5.2 Intangible asset This is stated
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taxable temporary differences and d
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An impairment loss in respect of a
Page 111 and 112: term loans from banking companies a
Page 113 and 114: calculating the capitalisation rate
Page 115 and 116: 7.1.1 The depreciation for the year
Page 117 and 118: Rupees Note 2018 2017 10. LONG-TERM
Page 119 and 120: 16.3 Government of Pakistan (GoP) i
Page 121 and 122: 21. EQUITY CONTRIBUTION FROM DIRECT
Page 123 and 124: Rupees 2018 2017 23.2.2 Changes in
Page 125 and 126: Rupees Note 2018 2017 25. ACCRUED P
Page 127 and 128: these financial statements as the m
Page 129 and 130: Rupees Note 2018 2017 33. OTHER CHA
Page 131 and 132: Rupees 2018 2017 37. EARNINGS PER S
Page 133 and 134: Rupees 2018 2017 Al-Bashir (Private
Page 135 and 136: 45.1 Credit risk Credit risk repres
Page 137 and 138: 45.2 Liquidity risk Liquidity risk
Page 139 and 140: Rupees 2018 2017 Variable rate inst
Page 141 and 142: Other financial Loans and Total Rup
Page 143 and 144: The heading of following separate l
Page 145: Annual Report 2018 137
Page 148 and 149: PATTERN OF SHAREHOLDING AS ON JUNE
Page 150 and 151: CATEGORY OF SHAREHOLDERS AS ON JUNE
Page 152 and 153: NOTICE OF THE ANNUAL GENERAL MEETIN
Page 154 and 155: NOTICE OF THE ANNUAL GENERAL MEETIN
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Page 158 and 159: MUGHAL IRON & STEEL INDUSTRIES LIMI
Page 161: DEFINITIONS Gross Profit Ratio The
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