ANNUAL REPORT 2023
In the Name of Almighty Allah The Most Beneficient
The Most Merciful
COLONY TEXTILE MILLS LIMITED
ACCOUNTS FOR THE YEAR
ENDED
JUNE 30, 2023
COLONY TEXTILE MILLS LIMITED
ANNUAL REPORT 2023
Vision
To explore and create opportunities, remain at the forefront of innovation and meet the expectations of stakeholders at every stage, every year, while remaining humble in perception and true to our values.
Mission
To take Colony to new heights with an eye on the future; for the business, for our employees and for our stakeholders.
COLONY TEXTILE MILLS LIMITED
ANNUAL REPORT 2023
Business Ethics
and Practices
Our Core business is to produce and supply of Textile Products to local and international
our top priority, we follow the under mentioned business practices for the achievement of the desired results of customer satisfaction.
HUMAN RESOURCE DEVELOPMENT
We believe in individual respect and growth. Our employment and HR policies develop individuals without race, religion, gender or any discrimination factor. We provide equal opportunities to all the employees under a team based working environment. We provide all the possible support to all our employees to enhance their knowledge and vision keeping in view of their own limitations.
SOCIAL AND COMMUNITY COMMITMENTS
ethical, in supporting all the deserving individuals of the society. We feel it is our responsibility to play our role in the development of the society and do maximum within our own limitations for the community at large.
RISK MANAGEMENT
Our risk management policies are geared to enhance share holders worth, improve credit worthiness and minimize credit risk while diversifying income, along with suppliers and
institutions as we take them as our business partners.
TRANSPARENT FINANCIAL POLICIES
. We are
following all the applicable laws and best accounting practices while preparing t statements for the stakeholders.
CORPORATE GOVERNANCE
We as a responsible corporate citizen strongly adhere to the Corporate Governance principles and comply with the regulatory obligations enforced by regulatory agencies for improving corporate performance. We believe in up rightness of performance and expect it to be a fundamental responsibility of our employees to act in the best interest of the company without compromising on the rules and regulations enforced by the regulators.
MARKETING AND INDUSTRY PRACTICES
All our marketing polices are customer focused. We believe in One Window Solution and customer satisfaction. Our marketing policy is only based on these two parameters and to
making a close liaison with markets, customers and their needs.
COLONY TEXTILE MILLS LIMITED
ANNUAL REPORT 2023
Contents
Company Information | 5 |
Notice of Annual General Meeting | 7 |
Chairman's Review | 12 |
Directors' Report to the Members | 13 |
Statement of Compliance with Listed Companies | 20 |
(Code of Corporate Governance) Regulations, 2019 | |
Independent Auditors' Review Report | 22 |
Independent Auditors' Report | 23 |
Statement of Financial Position | 28 |
Statement of Profit or Loss | 30 |
Statement of Comprehensive Income | 31 |
Statement of Cash Flows | 32 |
Statement of Changes in Equity | 33 |
Notes to the Financial Statements | 34 |
Consolidated Independent Auditors' Report | 68 |
Consolidated Statement of Financial Position | 72 |
Consolidated Statement of Profit or Loss | 74 |
Consolidated Statement of Comprehensive Income | 75 |
Consolidated Statement of Cash Flows | 76 |
Consolidated Statement of Changes in Equity | 77 |
Consolidated Notes to the Financial Statements | 78 |
Pattern of Shareholding Report | 110 |
Financial Highlights | 115 |
124 | |
Form of Proxy | 125 |
COLONY TEXTILE MILLS LIMITED
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Colony Textile Mills Ltd. published this content on 09 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2023 03:35:23 UTC.