MS AR 2018 (1)

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AWARDS AND ACCOLADES The Company bagged 1st position under Engineering & Auto Sector for “Best Corporate Report 2017”, and joint third position for “Best Corporate Report 2016” in the award ceremonies jointly hosted by the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP). The awards are reflection of best ethical values and management practices adopted by the Company in corporate reporting. The Company has promoted accountability and transparency through provision of accurate, informative, factual and reader friendly Annual Reports for its valuable stakeholders. 16 MUGHAL IRON & STEEL INDUSTRIES LIMITED
CALENDAR OF MAJOR EVENTS 2017-2018 The Company follows the period of July to June as the financial year. MONTHS DATE EVENT July 15 Eid Milan Party August 13 Independence Day Celebrations August 25 Joint 3rd Position Best Corporate Reporting Award September 18 Board Of Directors Approved Annual Accounts For Year Ended June 30, 2017 October 26 Issuance Of 1st Quarter Accounts October 26 Enhancement Of Gas Load For Captive Power Generation From 2.80 MMCFD to 6.30 MMCFD October 28 8th Annual General Meeting January 04 Extension Of Grid Station Load From 19.99 MW To 59.99 MW January 05 Mehfil-e-Milad January 30 PACRA Assigns Initial Entity Ratings February 16 Signing Of Sponsorship Contract With Multan Sultans For PSL February 26 Issuance Of 2nd Quarter Accounts February 26 Approval Of Phase II Of Expansion Plan By The Board Of Directors March 19 Sports Gala April 24 Issuance Of 3rd Quarter Accounts June 11 Further Extension Of Grid Station Load From 59.99 MW To 79.99 MW. Annual Report 2018 17
Page 2 and 3: COVER STORY Building a strong path
Page 4 and 5: KEY FIGURES Sales Revenue (2017: 18
Page 6 and 7: CONTENTS 02 DIRECTORS’ REPORT 24
Page 9 and 10: 01 • COMPANY OVERVIEW Vision, Mis
Page 11 and 12: VISION STATEMENT To be a leading co
Page 13 and 14: FAIRNESS We are devoted to implemen
Page 15 and 16: EQUAL EMPLOYMENT OPPORTUNITIES AND
Page 17 and 18: PRODUCT PORTFOLIO The Company’s p
Page 19 and 20: A SIMPLE, EFFECTIVE AND ACHIEVABLE
Page 21 and 22: BOARD OF DIRECTORS Mirza Javed Iqba
Page 23: ORGANOGRAM OF COMPANY SHAREHOLDERS
Page 27 and 28: MIRZA JAVED IQBAL Chairman / Non -
Page 29: MR. FAZEEL BIN TARIQ Non - Executiv
Page 32 and 33: CHAIRMAN’S LETTER TO THE SHAREHOL
Page 34 and 35: CHIEF EXECUTIVE OFFICER’S REMARKS
Page 36 and 37: DIRECTORS’ REPORT TO THE SHAREHOL
Page 48 and 49: 40 MUGHAL IRON & STEEL INDUSTRIES L
Page 59 and 60: 03 • REVIEWS & REPORTS Additional
Page 61 and 62: DESCRIPTION OF ENTITY’S RESOURCES
Page 63 and 64: ANALYSIS OF PROSPECTS OF THE ENTITY
Page 65 and 66: BOARD COMMITTEES Audit Committee Co
Page 67 and 68: ANNUAL EVALUATION OF BOARD PERFORMA
Page 69 and 70: WHISTLE BLOWING POLICY As part of o
Page 71 and 72: STAKEHOLDERS’ ENGAGEMENT The deve
Page 73: • The internal audit function has
Page 76 and 77:
HORIZONTAL ANALYSIS Statement of Fi
Page 78 and 79:
SUMMARY OF STATEMENT OF CASH FLOWS
Page 80 and 81:
ANALYSIS OF FINANCIAL RATIOS Ratio
Page 82 and 83:
DUPONT ANALYSIS Year Return on Equi
Page 84 and 85:
STATEMENT OF CASH FLOWS DIRECT METH
Page 86 and 87:
GRAPHICAL ANALYSIS Market Ratios Ru
Page 88 and 89:
DISTRIBUTION OF WEALTH 2018 2017 Rs
Page 91 and 92:
05 • FINANCIAL STATEMENTS Indepen
Page 93 and 94:
STATEMENT OF COMPLIANCE WITH LISTED
Page 95 and 96:
GLOBAL PRESENCE LOCAL EXCELLENCE FA
Page 97 and 98:
internal control. • Obtain an und
Page 99 and 100:
STATEMENT OF PROFIT OR LOSS & OTHER
Page 101 and 102:
STATEMENT OF CASH FLOWS FOR THE YEA
Page 103 and 104:
i) Property, plant and equipment an
Page 105 and 106:
5.2 Intangible asset This is stated
Page 107 and 108:
taxable temporary differences and d
Page 109 and 110:
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
Page 156 and 157:
148 MUGHAL IRON & STEEL INDUSTRIES
Page 158 and 159:
MUGHAL IRON & STEEL INDUSTRIES LIMI
Page 161 and 162:
DEFINITIONS Gross Profit Ratio The
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