Karam Ceramics : Transmission of Financial Statement for the year ended June 30, 2022

43rd ANNUAL REPORT

FOR THE YEAR ENDED 30 JUNE 2022

CONTENTS

Company Information	02
Notice of Meeting	03-05
Progress Graphs	06
Review Report By The Chairperson (English & Urdu)	07-08
Financial Highlights	09
Directors' Report	10-13
Directors' Report (Urdu)	14-17
Vision and Mission Statement	18
Statement Of Compliance With Listed Companies
(Code Of Corporate Governance) Regulations, 2019	19-21
Independent Auditor's Review Report To The Members Of
Karam Ceramics Limited Review Report On The Statement Of
Compliance Contained In Listed Companies
(Code Of Corporate Governance) Regulations, 2019	22
Independent Auditors'
Report To The Members Of Karam Ceramics Limited
Report On The Audit Of The Financial Statements	23-26
Statement Of Financial Position	27-28
Statement Of Profit Or Loss	29
Other Comprehensive Income	30
Statement Of Changes In Equity	31
Statement Of Cash Flows	32-33
Notes To And Forming Part Of The Financial Statements	34-74
Pattern of Shareholding	75-76
Proxy Form

COMPANY INFORMATION

BOARD OF DIRECTORS
Mrs.	Suraiya Nasir	Chairperson
Mr.	Syed Mazhar Ali Nasir	Chief Executive Officer
Mr.	Syed Azhar Ali Nasir	Director Non-Executive Director
Mr.	Syed Azfar Ali Nasir	Director Non-Executive Director
Lt.	General (Rtd) Tariq Waseem Ghazi	Independent Non-Executive Director
Mr.	Alireza M. Alladin	Director Executive Director
Mr.	Shuja Ahmed Alvi	Independent Non-Executive Director
Mr.	Muhammad Shehzad Dhedhi	Chief Financial officer
Mr.	Manzoor Ali Natha	Company Secretary
AUDIT COMMITTEE
Mr.	Azhar Ali Nasir	Chairman
Mr.	Alireza M.Alladin	Member
Mr.	Shuja Ahmed Alvi	Member
HUMAN RESOURCES & REMUNERATION COMMITTEE
Mr. Syed Azfar Ali Nasir	Chairman
Mr. Alireza M.Alladin	Member
Mr. Shuja Ahmed Alvi	Member

BANKERS

Soneri Bank Limited

Habib Bank Limited

JS Bank Limited

MCB Bank Limited

Habib Metropolitan Bank Limited

Faysal Bank Limited

Allied Bank Limited

Bank Alfalah Limited

Meezan Bank Limited

MCB Islmic Banking

AUDITORS / REGISTRAR AND SHARE TRANSFER OFFICE

Crowe Hussain Choudhury & Co

Chartered Accountants

T.H.K. Associates (Private) Limited

Plot No.32-C, Jami Commercial Street2,

D.H.A Phase-VII,Karachi-75500

NATIONAL TAX NUMBER	:	0710857-5
SALES TAX REGISTERATION NO	:	02-02-6907-001-55

HEAD OFFICE

A-31, Sindhi Muslim Co-operative Housing Society, Karachi - 75400. (Ph # 021-34555512-13 )

FACTORY

295/311,Deh Halkani, Hub Dam Road Karachi

02

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 43rd Annual General Meeting ("AGM") of Karam Ceramics Limited (the 'Company') will be held on Saturday November 26, 2022, at 3.00 P.M, at the Registered Office of the Company A-31, S. M.C.H.S., Karachi and / or through video-link facility to transact the following business.

ORDINARY BUSINESS:

1. To Confirm the minutes of the 42nd Annual General Meeting held on 27th October 2021
2. To receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2022, together with the reports Directors and Auditors thereon.
3. To appoint External Auditor of the Company for the year ending June 30, 2023 and fix their remuneration. The present auditors M/s. Crowe Hussain Chaudhury & Co. Chartered Accountants, retire and being eligible have offered themselves for reappointment.
4. To elect seven (7) Directors for the period of three years in accordance with the Companies Act 2017. The Directors have fixed the number of elected Directors as seven (7). The name of retiring Directors are as follows:

1. Mrs. Suraiya Nasir
2. Mr. Mazhar Ali Nasir
3. Mr . Azhar Ali Nasir
4. Mr. Azfar Ali Nasir
5. Lt. General (Rtd) Tariq Waseem Ghazi
6. Mr. Alireza M. Alladin
7. Mr. Shuja Ahmed Alvi

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

Karachi
November 5, 2022.	By Order of the Board

Manzoor Ali Natha

Company Secretary

Notes :

1. The Share transfer book of the company will be closed from November 19, 2022 to November 26, 2022 (both days inclusive). The transfers received at Company's Share Registrar namely M/s THK Associates (Pvt) Ltd. Plot No. 32-C, Jami Commercial Street 2, D.H.A Phase VII Karachi-75500 by close of business on November 18, 2022. Members whose names are appearing in the Register of Members at the close of business on November 18, 2022 are entitled to attend, participate and vote of the Meeting.
2. In accordance with the provision of the Companies Act, 2017, the Annual Report containing the Annual Audited Financial Statements for the year ended June 30, 2022 is available on

the Company's website.

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1. In light of the continuing spread of Covid 19 and to protect the well being of the shareholders, the Securities and Exchange Commission of Pakistan ("SECP"), in terms of its circular No. 6 of 2021, directed the listed companies to hold their meeting, virtually in addition to the requirements to ensure that all participants, including shareholders, can now participate in the AGM proceeding through video-link as well.
2. In order to attend the Meeting through video-link facility, the Members are requested to get themselves registered not later than 72 hours before the Meeting by providing the following information to the contact details stated at bottom of this Note 4: in case of the information sent through courier, the same should be received at Company's office by November 19, 2022:.

Name of	CNIC No.	Folio No.	Cell No.	Email Address
Shareholder

Copy of CNIC will be required with above mentioned information. The video-link for the meeting will be sent to the Members on their provided email address enabling them to attend meeting on the given date and time. The login facility will remain open from 2.30p.m till the end of meeting. In case of any suggestions or comments for the agenda items, the Members may send the same at the email address mentioned below:

Karam Ceramics Limited

A-31, Sindhi Muslim Cooperative Housing Society, Karachi-75400

Telephone: [phone]

Email: [e-mail]

1. Individual Members who have not yet submitted a copy of their valid CNIC to the Company are once again requested to send a copy of their valid CNIC at the earliest directly to the office of Share Registrar of the Company, Corporate entities are requested to provide their National Tax Number (NTN) and folio number. In case of non-receipt of the copy of a valid CNIC or NTN (as the case may be), the Company would be unable to comply with the requirements of the Companies Act, 2017 and SROs issued there under.
2. A Member entitled to attend and vote at the Meeting may appoint another Member as his/her proxy to attend, speak and vote at the Meeting on his/her behalf. The instrument appointing proxy, as per the format available at Company's website, must be submitted at the Share Registrar Office not less than 48 hours before the time of the Meeting.
3. The Members are requested to notify the Company if there is any change in their address immediately; in case of physical shares, to the Company/Share Registrar and for CDC chares, to respective Central Depository System (CDS) participants.

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