MS AR 2018 (1)

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BOARD PROFILE (CONTD.) MR. KHURRAM JAVAID Chief Executive Officer / Director Mr. Khurram Javaid holds an MBA from the Coventry University, UK. He has made substantial contributions towards the development of the Company’s production capabilities and sales network within the country, ensuring that each is at par with the international standards of the steel industry. Also, since Mr. Javaid is a strong advocate of human resource development, he is the man behind incorporating effective HR planning, policymaking and training which is the corner stone behind the Company’s success today. Other Engagements: Mughal Energy Limited Mughal Steel Re-Rolling Industries (Private) Limited Mughal International IMPEX (Private) Limited Indus Engineering (Private) Limited Mughal Holding (Private) Limited Mughal Modaraba Management Limited Al-Bashir ( Private) Limited Mughal Steel Logistics (Private) Limited CEO / Director Director CEO CEO / Director Director Director Director CEO MUHAMMAD MUBEEN TARIQ MUGHAL Executive Director Mr. Mubeen has academic background in economics & finance and has done his Executive MBA (Leadership & Strategy) from London Business School (LBS). He is responsible for entire Financial Management of the Company including treasury, investments, accounting, internal control systems, budgetary controls and corporate governance. His astute financial acumen combined with in-depth knowledge of steel manufacturing operations and production techniques has over the years resulted in improved operational efficiencies, optimum utilization of funds, better working capital management and strengthening of internal and financial controls. He has been responsible for initiating professionalization of the organization by developing and reorganizing the human resource function, making it more effective as a strategic business function. Other Engagements: Indus Engineering (Private) Limited Mughal Steel Metallurgies Corporation Limited Al-Bashir (Private) Limited Mughal Steel Re-Rolling Industries (Private) Limited Mughal International IMPEX (Private) Limited Mughal Holding (Private) Limited Mughal Modaraba Management Limited Mughal Steel Logistics (Private) Limited Kalabagh Steel Mills Corporation Limited Director Director Director Director Director Director CEO / Director Director Director MR. JAMSHED IQBAL Executive Director Mr. Jamshed has over the years played a pivotal role in developing the clientele network across Pakistan to ensure that all kinds of geographical requirements are met by the Company, a feat that has resulted in expanded growth of the Company. Today his vast experience and in-depth knowledge of the steel sector is highly beneficial at the Board and operational level. Other Engagements: Mughal Energy Limited Mughal Steel Metallurgies Corporation Limited Al-Bashir (Private) Limited Mughal Steel Re-Rolling Industries (Private) Limited Mughal International IMPEX (Private) Limited Indus Steel Mills Corporation (Private) Limited Mughal Steel Logistics (Private) Limited Kalabagh Steel Mills Corporation Limited Director Director CEO / Director Director Director Director Director CEO / Director 20 MUGHAL IRON & STEEL INDUSTRIES LIMITED
MR. FAZEEL BIN TARIQ Non - Executive Director Mr. Fazeel holds a Bachelor’s Degree in Business Administration from the Lahore School of Economics, Pakistan and a Postgraduate degree in Professional Accounting from the Swinburne University of Technology, Australia. He has also done Masters in Leadership from Northeastern University, Boston, USA. He joined the Company in 2011 and since then worked in various roles, obtaining extensive knowledge and experience of production processes before being inducted as a member of the Board of Directors. Other Engagements: Mughal Modaraba Management Limited Indus Engineering (Private) Limited Mughal Steel Re-Rolling Industries (Private) Limited Director Director CEO MR. FAHAD JAVAID Non - Executive Director Mr. Fahad Javaid holds a Bachelor’s Degree in International Business from Australian National University, Australia. Other Engagements: Mughal Energy Limited Indus Engineering (Private) Limited Indus Steel Mills Corporation (Private) Limited Director Director CEO MUHAMMAD MATEEN JAMSHED Non - Executive Director Mr. Mateen holds a Bachelor’s Degree in Business Administration from the Lahore School of Economics, Pakistan. Other Engagements: Indus Engineering (Private) Limited Director Annual Report 2018 21
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 and 24: ORGANOGRAM OF COMPANY SHAREHOLDERS
Page 25 and 26: CALENDAR OF MAJOR EVENTS 2017-2018
Page 27: MIRZA JAVED IQBAL Chairman / Non -
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
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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
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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
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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
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45.2 Liquidity risk Liquidity risk
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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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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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