Tariq Glass Industries : Transmission of Annual Report for the Year Ended 30 June 2022

CONTENTS
Company Information............................................................................................	02
Vision and Mission Statement............................................................................	03
Notice of Annual General Meeting...................................................................	04
Chairman's Review Report...................................................................................	09
Directors' Report......................................................................................................	11
Statement of Compliance with the Listed Companies
(Code of Corporate Governance) Regulations, 2019................................	19
Independent Auditor's Review Report............................................................	22
Independent Auditor's Report............................................................................	23
Statement of Financial Position.........................................................................	28
Statement of Profit or Loss Account................................................................	29
Statement of Comprehensive Income............................................................	29
Statement of Changes in Equity........................................................................	30
Statement of Cash Flows......................................................................................	31
Notes to the Financial Statements...................................................................	33
Financial Statistical Summary............................................................................	83
Pattern of Shareholding........................................................................................	84
Categories of Shareholders.................................................................................	85
Important Notes for the Shareholders............................................................	86
Directors' Report (Urdu)........................................................................................	96
Chairman's Review Report (Urdu).....................................................................	97
Notice of Annual General Meeting (Urdu)..................................................	101
Form of Proxy (English/Urdu)..........................................................................	103

Annual Report 2022 1

COMPANY INFORMATION

BOARD OF DIRECTORS

MR. MANSOOR IRFANI	CHAIRMAN
MR. OMER BAIG	MANAGING DIRECTOR / CEO
MR. MOHAMMAD BAIG	EXECUTIVE DIRECTOR
MR. SAAD IQBAL	NON-EXECUTIVE DIRECTOR
MS. RUBINA NAYYAR	NON-EXECUTIVE / FEMALE DIRECTOR
MR. MUHAMMAD IBRAR KHAN	INDEPENDENT DIRECTOR
MR. FAIZ MUHAMMAD	INDEPENDENT DIRECTOR

AUDIT COMMITTEE

	MR. FAIZ MUHAMMAD	CHAIRMAN
	MR. MANSOOR IRFANI	MEMBER
	MS. RUBINA NAYYAR	MEMBER
	HUMAN RESOURCE &
	REMUNERATION COMMITTEE
	MR. FAIZ MUHAMMAD	CHAIRMAN
	MR. OMER BAIG	MEMBER
	MS. RUBINA NAYYAR	MEMBER
	CHIEF FINANCIAL OFFICER
	MR. WAQAR ULLAH
	COMPANY SECRETARY
	MR. MOHSIN ALI
	EXTERNAL AUDITORS

LEGAL ADVISOR

KASURI AND ASSOCIATES, LAHORE

BANKERS

AL-BARAKA BANK (PAK) LIMITED ALLIED BANK LIMITED ASKARI BANK LIMITED

BANK ALFALAH LIMITED

BANK ALHABIB LIMITED

FAYSAL BANK LIMITED

HABIB BANK LIMITED

HABIB METROPOLITAN BANK LIMITED MCB BANK LIMITED

MEEZAN BANK LIMITED NATIONAL BANK OF PAKISTAN

PAKISTAN KUWAIT INVESTMENT CO., (PVT) LIMITED SAMBA BANK LIMITED

STANDARD CHARTERED BANK (PAK) LIMITED THE BANK OF KHYBER

THE BANK OF PUNJAB

UNITED BANK LIMITED

CROWE HUSSAIN CHAUDHURY & CO. CHARTERED ACCOUNTANTS, LAHORE

CORPORATE CONSULTANTS

MR. RASHID SADIQ

M/S R.S. CORPORATE ADVISORY , LAHORE

TAX CONSULTANTS

YOUSAF ISLAM ASSOCIATES, LAHORE

SHARES REGISTRAR

SHEMAS INTERNATIONAL (PVT) LTD.

533-Main Boulevard, Imperial Garden Block, Paragon City, Barki Road, Lahore.

Ph: [phone]

E-mail: [e-mail]

COMPANY RATING

LONG TERM: A+	SHORT TERM: A1
OUTLOOK: STABLE	RATING AGENCY: PACRA

RATING DATE: DECEMBER 24, 2021

REGISTERED OFFICE

128-J, MODEL TOWN, LAHORE. UAN: 042-111-34-34-34

FAX: [phone]

E-mail: [e-mail]

WEB: www.tariqglass.com

WORKS

33-KM, LAHORE/SHEIKHUPURA ROAD,

DISTRICT SHEIKHUPURA.

TEL: [phone]

FAX: [phone]

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VISION

STATEMENT

To be a premier glass manufacturing organization of International standards and repute, offering innovative value-added products, tailored respectively to the customer's needs and satisfaction. Optimizing the shareholder's value through meeting their expectations, making Tariq Glass Industries Limited an "Investor Preferred Institution" is one of our prime policies. We are a "glassware supermarket" by catering all household and industrial needs of the customers under one roof.

MISSION

STATEMENT

To be a world class and leading company continuously providing quality glass tableware, containers and float by utilizing best blend of state of the art technologies, highly professional staff, excellent business processes and synergistic organizational culture.

Annual Report 2022 3

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that 44th Annual General Meeting ("AGM") of Tariq Glass Industries Limited (the "Company") will be held on Thursday, the October 27, 2022 at 11:00 AM at the registered office of the Company situated at 128-J, Model Town, Lahore and through video link to transact the following business:

ORDINARY BUSINESS

1. To confirm the minutes of the Extra Ordinary General Meeting of the members held on March 21,
   2022.
2. To receive, consider and adopt the Audited Financial Statements of the Company for the year ended June 30, 2022 together with the Chairman's Review Report, Directors' Report and Auditors Reports thereon.
3. To appoint Auditors of the Company for the year ending June 30, 2023 and fix their remuneration. The shareholders are hereby notified that the Audit Committee and the Board of Directors have recommended the name of retiring Auditors M/S Crowe Hussain Chaudhury & Co., Chartered Accountants for re-appointment as auditors of the Company.
4. To approve the payment of final cash dividend at the rate of 20% i.e., Rs. 2/- per share as recommended by the Board of Directors for the year ended June 30, 2022.

SPECIAL BUSINESS

5. To approve issuance of bonus shares at the rate of 25% i.e., 5 ordinary shares for every 20 ordinary shares for the year ended June 30, 2022 as recommended by the Board of Directors.

These new bonus shares shall not be entitled for the final cash dividend for the year ended June 30, 2022 and if deemed fit, to pass the following ordinary resolutions with or without modification, addition(s) or deletion(s) for the issuance of bonus shares:

"RESOLVED that a sum of Rs. 344,334,370/- (Rupees Three Hundred Forty Four Million Three Hundred Thirty Four Thousand and Three Hundred Seventy only) out of the Company's free reserves / unappropriated profit be capitalized and applied towards the allotment and issuance of 34,433,437 ordinary shares of Rs.10/- each as fully paid bonus shares in the proportion of

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