Sardar Chemical Industries : RE-SUBMISSION OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 30-06-2023

Sardar Chemical Industries Limited

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Annual Report 2023

ANNUAL REPORT 2023
CONTENTS	PAGE NO.
Company Information	2
Notice of Annual General Meeting	4
Mission Statement and Statement of Ethics and Business Practices……………………………….7
Chairman's Review Report…………………………………………………………………………8
Directors' Report to the Shareholders………………………………………………………………9
Key operating and finance data for last six years	12
Statement of Compliance with the code of Corporate Governance	13
Review Report to the Members on the Statement of Compliance with the Best Practices of Code of
Corporate Governance	16
Auditors' report to the Members	17
Balance Sheet	22
Profit and Loss Account	23
Statement of Comprehensive Income	24
Statement of Changes in Equity	25
Cash Flow Statement	26
Notes to the Financial Statements	27
Pattern of Share Holdings	44
Categories of Share Holders	45
Notice of Annual General Meeting (Urdu)	47
Directors' Report to the Shareholders (Urdu)	50
Form of Proxy	52

Sardar Chemical Industries Limited

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Annual Report 2023

COMPANY INFORMATION

CHIEF EXECUTIVE

Mrs. Reema Ayaz

DIRECTORS	Mr. Shahid Aziz (NIT Nominee)
	Mr. Niaz Ahmed Chughtai
	Mr. Fayyaz Ahmed Khan
	Mr. Aitzaz Ahmad Tarar
	Mrs.Tayybah Mahmood sadiq
	Mr. Abdul Rehman Qureshi

AUDIT COMMITTEE	Mr. Aitzaz Ahmad Tarar
	Mrs. Tayybah Mahmood Sadiq
	Mr.Fayyaz Ahmed Khan

COMPANY SECRETARY

Mr. Niaz Ahmed Chughtai

AUDITORS	Aslam Malik & Co.
	Chartered Accountants
HR & REMUNERATION	Mr. Aitzaz Ahmad Tarar
	Mrs. Tayybah Mahmood Sadiq
	Mr. Fayyaz Ahmed Khan

BANKERS	Allied Bank of Pakistan Ltd.
	Askari Bank Ltd.

LEGAL ADVISORS	Mr. Javaid Iqbal Malik, Advocate
HEAD OFFICE/SHARE DEPARTMENT	2-A, 2nd Floor, Canal Bank Road,
	Justice Sardar Iqbal Road, Aziz
	Avenue, Gulberg-V, Lahore, Pakistan.
	Ph: [phone],35710148

Sardar Chemical Industries Limited

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Annual Report 2023

Fax: [phone] E-Mail: [e-mail] Web: www.sardarchemicals.com

REGISTERED OFFICE/ FACTORY	Plot. NO. 29-B, Road No. 01
	Gadoon Amazai, industrial Estate,
	Topi, Ganduf Road, Swabi (NWFP)
	Ph: [phone], 270439, 270539
	Fax: [phone]

REGISTRAR/TRANSFER AGENT	CorpLink (PVT) Ltd, Wings Arcade,
	1-K, Commercial, Model Town, Lahore
	Ph: 042-35916714, 35916719
	Fax: [phone]

Sardar Chemical Industries Limited

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Annual Report 2023

SARDAR CHEMICAL INDUSTRIES LIMITED

NOTICE OF ANNUAL GENERAL MEETING

The 34th Annual General Meeting of SARDAR CHEMICAL INDUSTRIES LIMITED will be held at Plot No. 29-B, Road No. 1, Gadoon Amazai Industrial Estate, Topi, Ganduf Road, District Swabi K.P.K. on Friday 27th October 2023, at 5:00 P.M. to transact the following business: -

ORDINARY BUSINESS

1. To confirm the minutes of 33rd Annual General Meeting held on 28th October 2022.
2. To receive, consider and adopt the audited Financial Statements for the year ended June 30, 2023, together with the Chairman's Review Report the Directors' and Auditors', Report thereon.
3. To elect 7 directors for the next tenure in accordance with the provisions of the SECTION 159 OF THE COMPANIES ACT, 2017. The number of elected Directors of the Company has been

fixed at 7 by the Board of Directors. The present Directors are eligible to offer themselves for re-election.

I.	SARDAR AYAZ SADIQ	V.	MRS. TAYYBAH MAHMOOD SADIQ
II.	MRS. REEMA AYAZ	VI.	MR. AITZAZ AHMAD TARAR
III.	MR. ABDUL REHMAN QURESHI	VII.	MR. FAYYAZ AHMED KHAN
IV.	MR. SHAHID AZIZ

In terms of the section 159(3) of the Companies Act, 2017, any person who seeks to contest an election of the office of director shall, whether he retiring director or otherwise, file with the Company not later than fourteen (14) days before the date of meeting, a notice of his intention to offer himself for election as a director.

1. To appoint Auditors for the year ended June 30, 2024, and fix their remuneration.
2. TRANSMISSION OF ANNUAL AUDITED FINANCIAL STATEMENTS THROUGH QR CODE

AND WEBLINK:

To approve, as and by way of ordinary resolution, the transmission of the annual balance sheet, profit & loss account, auditors' report, directors' report (the "Audited Annual Financial Statements") to the Company's shareholders through email or QR enabled code and weblink as allowed by the Securities and Exchange Commission of Pakistan via S.R.O. No. 389(I)/2023 dated 21-03-2023.

"RESOLVED THAT as notified by the Securities and Exchange Commission of Pakistan via S.R.O. No. 389(I)/2023 dated 21-03-2023 transmission of Annual Audited Financial Statements to the members through QR enabled code and weblink instead of transmitting the Annual Audited Accounts through CD/DVD/USB, be and is hereby ratified and approved for future".

6. To transact any other ordinary business with the permission of the Chair.

SPECIAL BUSINESS

1. To enhance the remuneration of the Chief Executive and two Working Directors.

1. Chief Executive to Rs. 350,000/- P.M.
2. Working Directors to Rs. 350,000/- P.M. to each
3. Executive to Rs. 150,000/- P.M.

A statement of material fact under section 134(3) of the Companies Act, 2017 relating to the aforesaid special business to be transacted at the said Annual General Meeting is being sent to the shareholders along with the notice.

ANY OTHER BUSINESS

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

Lahore	By Order of the Board
6th October, 2023	Company Secretary