EMCO Industries : Transmission of Annual Report for the Year Ended 30.06.2022

ANNUAL REPORT 2022 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.......................................................................	19
Statement of Compliance with the Code of Corporate Governance .......................	20
Review Report to the Members on Statement of Compliance
with Code of Corporate Governance.....................................................................	23
Auditors' Report To The Members...........................................................................	24
Statement of Financial Position..........................................................................................	28
Statement of Profit or Loss Account................................................................................	29
Statement of Comprehensive Income......................................................................	30
Statement of Changes in Equity..........................................................................................	31
Statement of Cash Flows...................................................................................	32
Notes to the Financial Statements...........................................................................	33
Pattern of Shareholdings..........................................................................................	78
Form of Proxy...........................................................................................................	83

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Company Information

Board of Directors

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

External Auditors

M/s. Crowe Hussain Chaudhury & Co.,

Chartered Accountants, Lahore.

Internal Auditors

M/s. Zeeshan & 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

BUSINESS ITEMS

Porcelain Insulators

• Tension Insulator
• Suspension Insulator
• Pin Insulator
• Line Post Insulator
• Cap and pin Insulator
• Station Post 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 2022 3

Notice of Annual General Meeting

NOTICE TO THE SHAREHOLDERS FOR THE 67TH ANNUAL GENERAL MEETING OF

EMCO INDUSTRIES LIMITED TO BE HELD AT ICC HOUSE, 2-CHAMBA HOUSE LANE, GOLF ROAD, GOR-1,

LAHORE ON WEDNESDAY, 12th OCTOBER 2022, AT 11:30 AM

NOTICE is hereby given that the 67th 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 Wednesday 12th October, 2022 at 11:30 a.m. to conduct the following business:

Ordinary Business:

1. To confirm the minutes of the last Annual General Meeting (AGM) of the Company held on 30.09.2021.
2. To receive, consider, approve and adopt the Annual Audited Accounts of the Company for the year ended 30th June 2022 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 2023 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: August 30, 2022	(Company Secretary / Director)

NOTES:

1. The Share Transfer Books of the Company will remain closed from 5th October, 2022 to 12th October, 2022 (both days inclusive).
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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