EMCO Industries : Transmission of Annual Report for the Year Ended 30.06.2023

ANNUAL REPORT 2023 1

CONTENTS
Company Information and Business Items	3
Notice of Annual General Meeting	4
Chairman's Review	6
Directors' Report to the Members	8
Financial Highlights of Last Ten Years	24
Statement of Compliance with the Code of Corporate Governance	25
Review Report to the Members on Statement of Compliance
with Code of Corporate Governance	29
Auditors' Report To The Members	30
Statement of Financial Position	34
Statement of Profit or Loss Account	35
Statement of Comprehensive Income	36
Statement of Changes in Equity	37
Statement of Cash Flows	38
Notes to and Forming part of the Financial Statements	39
Pattern of Shareholdings	84
Form of Proxy	89

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Company Information

Board of Directors

Mr. Javaid Shafiq Siddiqi	Chairman / Non-Executive Director
Mr. Usman Haq	Managing Director / Executive Director
Mr. Salem Rehman	Chief Executive / Executive Director
Mr. Tariq Rehman	Executive Director
Mr. Ahsan Suhail Mannan	Company Secretary / Executive Director
Mr. Pervaiz Shafiq Siddiqi	Non-Executive Director
Mr. Salman Javaid Siddiqi	Non-Executive Director
Mr. Umair Noorani	Non-Executive Director
Mrs. Ayesha Mussadaque Hamid	Independent Director
Ch. Imran Ali	Independent Director
Syed Muhammad Mohsin	Independent Director
Mr. Osman Hameed Chaudhri	Independent Director
Chief Financial Officer
Mr. Riaz Ahmad
Company Secretary
Mr. Ahsan Suhail Mannan
Audit Committee
Mr. Osman Hameed Chaudhri	Chairman
Syed Muhammad Mohsin	Member
Mr. Javaid Shafiq Siddiqi	Member
Mr. Umair Noorani	Member
Mr. Ahsan Suhail Mannan

"Is the Committee Secretary as required by the Chapter IX, 27 (1) (iv) of Code of Corporate Governance, Regulations 2019."

HR Committee
Mrs. Ayesha Mussadaque Hamid	Chairman
Mr. Pervaiz Shafiq Siddiqi	Member
Mr. Salman Javaid Siddiqi	Member
Mr. Ahsan Suhail Mannan	Member / Committee Secretary
Risk Management Committee
Syed Muhammad Mohsin	Chairman
Mr. Tariq Rehman	Member
Ch. Imran Ali	Member
Mr. Salem Rehman	Member / Committee Secretary
Nomination Committee
Ch. Imran Ali	Chairman
Mr. Javaid Shafiq Siddiqi	Member
Mr. Usman Haq	Member
Mr. Ahsan Suhail Mannan	Member / Committee Secretary

External Auditors

M/s. Crowe Hussain Chaudhury & Co.,

Chartered Accountants, Lahore.

Internal Auditors

M/s. Zeeshan & Co.

Chartered Accountants, Lahore.

M/s. Muhammad Ali Hussain & Co.

Chartered Accountants, Lahore.

Legal Advisers

Cornelious Lane & Mufti

Chaudhary Associates Law Inn

Rizvi & Company

Asad Ullah Khan

Bankers

Habib Bank Limited

National Bank of Pakistan

Standard Chartered Bank (Pakistan) Limited

The Bank of Punjab

The Bank of Khyber

Silk Bank Limited

Askari Bank Limited

Soneri Bank Limited

BUSINESS ITEMS

Porcelain Insulators

• Tension Insulator
• Suspension Insulator
• Pin Insulator
• Line Post Insulator
• Cap and pin Insulator
• Station Post Insulator
• Long Road Insulator
• Insulator for Railway Electrification
• Telephone Insulator
• Low Voltage Insulator
• Dropout Cutout Insulator
• HT & LT Bushings

Switchgear

• Disconnect Switch upto 245 kv
• Metal Oxide Surge Arresters upto 245 kv

RTV Coating

• Room Temperature Vulcanised
• Silicone Rubber Coating

Chemical Porcelain

• Acid Proof Wares and Bricks
• Rasching Ring and Saddles
• Acid Proof Porcelain Pipes and Fitting
• Acid Proof Cement

Special Porcelain

• High Alumina Porcelain
• Lining Special Refractories & Grinding Media

Share Registrar

Corplink (Pvt) Limited

Wings Arcade. I-K , Commercial,

Model Town, Lahore.

Registered Office

4th Floor, National Tower, 28-Egerton Road, Lahore.

Factory

19-Kilometre,

Lahore Sheikhupura Road, Lahore.

ANNUAL REPORT 2023 3

Notice of Annual General Meeting

NOTICE TO THE SHAREHOLDERS FOR THE 68TH ANNUAL GENERAL MEETING OF EMCO INDUSTRIES LIMITED TO BE HELD AT ICC HOUSE, 2-CHAMBA HOUSE LANE, GOLF ROAD, GOR-1, LAHORE ON TUESDAY, 24TH OCTOBER 2023, AT 11:30 AM

NOTICE is hereby given that the 68th Annual General Meeting of the Shareholders of EMCO Industries Limited (the "Company") will be held at ICC House, 2-Chamba House Lane, Golf Road, GOR-1, Lahore on Tuesday 24th October, 2023 at 11:30 a.m. to conduct the following business:

Ordinary Business:

1. To confirm the minutes of the last Extraordinary General Meeting (EGM) of the Company held on 26.06.2023.
2. To receive, consider, approve and adopt the Annual Audited Accounts of the Company for the year ended 30th June 2023 together with the Director's and Auditor's Reports thereon.
3. To approve Cash Dividend @ 5% (i.e.Rs.0.50) per share as recommended by the Board of Directors, to be paid to all Shareholders of the Company.
4. To Appoint Auditors for the next financial year ending 30th June 2024 and to fix their remuneration. The present Auditors, M/s CROWE HUSSAIN CHAUDHURY & CO., Chartered Accountants, retires and being eligible, offer themselves for re-appointment.

Other Business:

1. To transact any other business with the permission of the Chair.

By order of the Board of Directors

Place: Lahore	Ahsan Suhail Mannan
Dated: September 05, 2023	(Company Secretary / Director)

NOTES:

1. The Share Transfer Books of the Company will remain closed from 17th October, 2023 to 24th October, 2023 (both days inclusive). The above entitlement, if approved by the shareholders will be paid to the Shareholders whose name will appear in the Register of Members on 16th October, 2023.
2. A member entitled to attend and vote at the AGM may appoint another member as his/her proxy to attend and vote instead of him/her at the meeting. Proxies must be deposited at the Company's Registered Office at 4th Floor, National Tower, 28-Egerton Road, Lahore not less than 48 (forty-eight) hours before the time of holding the meeting. (Form of Proxy is enclosed).
3. Any individual beneficial owner of CDC, entitled to vote at the AGM (Annual General Meeting), must bring his/her CNIC with him/her to prove his/her identity, and in case of proxy, attested copy of shareholder's CNIC must be attached with the proxy form. The representative of corporate member should bring the usual documents required for such purpose.
4. Members are requested to promptly notify the change in their address, if any, to the Company's Share Registrar M/S. CorpLink (Pvt) Limited, Wings Arcade, 1-K Commercial, Model Town, Lahore.

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