corporate and other information and other information.pdfpage 2 quetta textile mills limited nadir...

CORPORATE AND OTHER INFORMATION

QUETTA TEXTILE MILLS LIMITED

CORPORATE VISION/ MISSION

STATEMENT

VISION

Quetta Textile Mills Limited is one of the leading manufacturers & exporters of years & fabrics in

Pakistan. The Company aims to become a market leader by producing high quality products with the

help of latest technologies. The Company strives to explore new markets worldwide and at the same

time tries to integrate its supply chain and diversify its customer portfolio. The Company aims to be

fittest in a changing market scenario through effective Balancing, Modernization & replacement of

existing machinery.

Mission Our aim is to make Quetta Textile Mills Limited a secure & rewarding investment for its shareholders

& investors, a reliable source of high quality yarns & fabrics at affordable prices to its customers all over

the world, a secure place of work to its employees & an ethical partner to its business associates.

QUETTA TEXTILE MILLS LIMITED Nadir House, I. I. Chundrigar Road, Karachi – 74000, Pakistan

Tel: +92 (21) 3241-4334~6 Fax: +92 (21) 3241-9593 Email: [email protected] Web: www.QuettaGroup.com

Status of Company. Quetta Textile Mills Ltd is a Public listed company

Company Registration and NTN number.

Registration Number National Tax Number 0003272 0676772-9

Company Registered Head Office & Mills.

Registration Office Mills Address Nadir House (Ground Floor) I. I. Chundrigar Road, Karachi

49 K.M. Lahore Multan Road, Bhai Pheru P/3 & B/4, S.I.T.E., Kotri

Phone / Fax number of head office.

Phone Number Fax Number +92 (21) 3241-4334-6 +92 (21) 3241-9593

E-mail Address [email protected]

Board of Directors. Mr. Tariq Iqbal - Chief Executive & Executive Director

Mr. Tauqir Tariq - Executive Director

Mr. Asim Khalid - Executive Director

Mr. Omer Khalid - Executive Director

Mrs. Saima Asim - Non Executive Director

Mrs. Tabbasum Tariq - Non Executive Director

Mrs. Sadaf Khalid - Non Executive Director

Mr. Farhan Saleem - Non Executive Independent Director

Shareholding pattern.

PATTERN OF SHAREHOLDING ( FORM - A) Pattern of holding of the shares held by the shareholders as at 30-06-2014 is given below

No of

S h a r e h o l d i n g Total

Shareholders Share Held 105 From 1 To 100 Shares 2,411 67 From 101 To 500 Shares 19,254 30 From 500 To 1,000 Shares 26,558 37 From 1,001 To 5,000 Shares 98,312 11 From 5,001 To 10,000 Shares 86,585 2 From 10,001 To 15,000 Shares 24,464 2 From 15,001 To 20,000 Shares 40,000 2 From 20,001 To 25,000 Shares 44,772 1 From 25,001 To 30,000 Shares 25,884 3 From 30,001 To 35,000 Shares 96,076 1 From 35,001 To 40,000 Shares 40,000 1 From 40,001 To 45,000 Shares 42,460 2 From 50,001 To 55,000 Shares 104,082 1 From 85,001 To 90,000 Shares 87,000 1 From 155,001 To 160,000 Shares 156,358 1 From 190,001 To 195,000 Shares 190,358 1 From 210,001 To 215,000 Shares 214,663 1 From 245,001 To 250,000 Shares 245,350 2 From 280,001 To 285,000 Shares 563,688 1 From 310,001 To 315,000 Shares 313,167 1 From 325,001 To 330,000 Shares 327,683 1 From 330,001 To 335,000 Shares 334,272 1 From 350,001 To 355,000 Shares 352,000 1 From 365,001 To 370,000 Shares 369,000 1 From 390,001 To 395,000 Shares 393,760 2 From 435,001 To 440,000 Shares 877,371 1 From 445,001 To 450,000 Shares 449,205 1 From 470,001 To 475,000 Shares 471,318 2 From 565,001 To 570,000 Shares 1,132,094 1 From 595,001 To 600,000 Shares 595,177 1 From 605,001 To 610,000 Shares 607,303 1 From 630,001 To 635,000 Shares 631,983 1 From 645,001 To 650,000 Shares 649,759 1 From 650,001 To 655,000 Shares 653,728 1 From 690,001 To 695,000 Shares 694,353 1 From 785,001 To 790,000 Shares 786,615 1 From 1,250,001 To 1,255,000 Shares 1,252,937

291 Total 13,000,000

Categories of Shareholders No of Share Perentage Sharehoders Held

Individuals 277 12,918,735 99.37 Investment Corporation of Pakistan 1 250 0.00 Insurance Companies 1 52,082 0.40 Joint Stock Companies 6 17,072 0.13 Financial Institutions 3 10,061 0.08 Securities & Exchange Commission of Pakistan 1 1 0.00 Others 2 1,799 0.01

Total 291 13,000,000 100.00

DETAIL OF PATTERN OF SHAREHOLDING AS PER REQUIREMENT OF CODE OF CORPORATE GOVERNANCE

AS AT 30TH JUNE 2014

Name of shareholders No of Shareholders

Share held Percentage

1 ASSOCIATES COMPANIES Nil

2 NIT & ICP

Investment Corporation of Pakistan 1 250 0.00

3 Directors, CEO their Spouse and Minor Childern 9 Mr. Tariq Iqbal ( Director & CEO ) 566,059 4.35 Mr. Asim Khalid ( Director ) 935,730 7.20 Mr. Omer Khalid ( Director ) 59,303 7.38 Mrs. Saima Asim ( Director ) 8,700 0.07 Mrs. Sadaf Khalid ( Director ) 3,000 0.02 Mrs. TabbasumTariq ( Director ) 94,353 5.34 Mr. Tauqeer Tariq ( Director ) 31,983 4.86 Mr. Farhan Saleem ( Director ) 779 0.01 Mrs. Tahmina Tauqeer 49,205 3.46

4 Executive Nil

5 Public Sector Companies & Corporations Nil

6 Bank Development Finance Institution, 4 Non‐Banking Finance Institution, Insurance Companies, Modarabas & Mutual Fund State Life Insurance Corporation of Pakistan 52,082 0.40 National Industries Co‐operate Finance Corpration Ltd 364 0.00 National Bank Of Pakistan 9,697 0.07

7 ShareholdersHoding 10% or More Nil

8 Individuals 268 ,669,623 66.69

9 Others 9 Securities & Commission of Pakistan 1 0.00 Trustee NBP Employee Pension Fund 1,738 0.01 Trustee NBP Employee Benevolent Fund 61 0.00 Stock Master Security (Pvt) Ltd 1,190 0.01 Vorah Engineering Co. (Pvt) Ltd 2,300 0.02 UHF Consulting (Pvt) Ltd 40 0.00 Fazal Cloth Mills Ltd 13,464 0.10 Freedom Enterprises (Pvt) Ltd 62 0.00 N H Securities (Pvt) Ltd 16 0.00

Total 291 3,000,000 100.00

Name of Audit Company and Address.

Name Office Address Mushtaq and Company Chartered Accountants

407 / 4th Floor, Commerce Centre Hasrat Mohani Road, Karachi.

i) Investor Relation Contact Mr. Muhammad Sohrab Ghani Company Secretary

Email: [email protected]

UAN: +92 (21) 3241-4334 +92 (21) 3241-4336

Fax: +92 (21) 3241-9593 SECP’s investor complaint: www.secp.gov.pk/complaintform1.asp

Corporate Social Responsibility.

Your Company is fully aware of its corporate social responsibility and has been working positively to

raise the educational, health and environmental standards of the Country in general and local

communities in particular. Your Company is extensively supporting various educational and health

projects.

Notice of Meeting.


NOTICE OF MEETING

NOTICE IS HEREBY GIVEN of the 51st Annual General Meeting of the Shareholders to be held on Friday , October 31, 2014 at 09.00 a.m. at the Registered office of the company at Nadir House, Ground floor, I.I Chundrigar Road, Karachi to transact the following business.

1. To confirm the minutes of the 50th General Meeting held on January 28, 2014.

2. To receive, consider and approve the Audited Accounts and Directors Report thereon for the year ended June 30, 2014.

3. To appoint Auditors for the year 2014-2015 and fix their remuneration.

4. To transact any other business with the permission of the Chairman.

.

By order of the Board Karachi: October 09, 2014 MUHAMMAD SOHRAB GHANI Company Secretary 1. A member entitled to attend the Annual General Meeting is entitled to appoint a proxy to attend and vote instead of him/her. Proxies in order to be valid must be received at the registered office of the company 48 Hours before meeting commences. 2. For the purpose of entitlement of dividend, the Register of the members of the company will remain closed at registered office from October 25, 2014 to October 31,2014 (both days inclusive) and dividend approved will be paid to such members whose name appear in the Company’s register of member at the close of business on October 24, 2014. 3. Guidelines for CDC Account Holders for personal attendance:

i) In case of individuals, the account holder or sub-account holder and / or the person whose securities are in group account and their registration details are uploaded as per Regulations, shall authenticate his / her identity by showing his/her original NIC at the time of attending the meeting

ii) In case of corporate entity, the Board of Directors’ resolution / power of attorney with specimen signature of the nominee shall be produced (unless it has been provided earlier) at the time of meeting.

4. Shareholders are required to promptly notify at registered office of the company of any change in their address.

QUETTATEXTILE MILLS LIMITED

ADDENDUM Addendum to the Annual Report for the year ended June 30th 2014. TO ALL SHARE HOLDERS: Addendum No. 1 Dated: 11th October 2014 relating to the Annual Report for the year ended June 30th 2014. The followings corrections may please be inserted in the Annual report which was missing inprinted: Page No. Description Incorrect Correct

3 Notice of Meeting Nil In compliance with SECP notification No. 634(1)/2014 dated July 10, 2014, the audited financial statements and reports of the Company for the year ended June 30, 2014 are being placed on the Company’s website: www.quettagroup.com for the information and review of shareholders.

For Quetta Textile Mills Limited Company Secretary C.C. To: SECP Islamabad SECP Karachi Karachi Stock Exchange

Site Map.


Tel: +92 (21) 3241-4334~6 Fax: +92 (21) 3241-9593 Email : [email protected] Web www.quettagroup.com Dear Shareholders, Ref # /Sh09/10/2014/137 1. DEDUCTION OF TAX ON DIVIDEND INCOME - FINANCE ACT, 2014 It is hereby informed that pursuant to the Finance Act, 2014, effective from July 1, 2014 the rate of withholding tax [under Section 150 of Income Tax Ordinance, 2001] on dividend income has been segregated as follows. I. Rate of tax deduction for filer on income tax returns 10% II. Rate of tax deduction for non-filers of income tax returns 15% You are therefore, requested to please provide us the following details to enable us to deduct correct tax on dividend income (as and when declared/paid): Name Folio No / CDC

Account No. National Tax No. (for all shareholders)

CNIC No. (for individuals only) enclosed a copy of valid CNIC, if not already provided

1 2 3 4

Non-receipt/availability of above information would compel us to treat you as non-filer and you will be subject to deduction of 15% tax on dividend income as applicable to the non-filers. 2. MANDATORY SUBMISSION OF COMPUTERIZED NATIONAL IDENTITY CARD (CNIC) As we have already informed through various notices in respect of submission of a copy of valid CNIC, we reiterate that in accordance with directives of Securities and Exchange Commission of Pakistan (SECP), CNIC number is mandatorily required to be printed on the dividend warrant. Further, mentioning of CNIC number in the Annual Return ‘Form A’ is also an obligatory requirement under section 156 of the Companies Ordinance,1984. Despite of repeated notices, our record shows that still there are a number of shareholders who have not yet submitted a copy of their valid CNIC. If you have not yet submitted the same, we once again request you to please forward us a clear photocopy of your valid CNIC along with folio number. Kindly ignore if you have already provided your CNIC number to us. Corporate Shareholders are requested to provide their National Tax Number (NTN) to us. Kindly ensure that aforesaid documents must be submitted to our Share Registrar’s Najeeb Consultants (Pvt) Ltd., 405 Commerce Centre, Hasrat Mohani Road, Behind MCB Tower, Karachi. Regards Company Secretary

Summary Of Financial Data 2009-2014

June June June June June June

2009 2010 2011 2012 2013 2014

Profit and Loss

Net sales (Rs.000)

7,514,898

9,334,111

14,343,553 11,141,096 12,967,979 12,301,405

Gross Profit (Rs.000)

1,337,706

1,707,970

2,293,589 1,471,067 1,450,381 1,236,703

Profit before tax (Rs.000)

98,968

375,591

773,468 157,549 278,204 214,910

Profit after tax (Rs.000)

30,721

255,034

583,795 36,440 168,700 70,698

Cash Outflows

Taxes paid (Rs.000)

31,468

51,583

124,745 118,063 103,481 129,409

Financial charges paid (Rs.000)

859,771

958,328

927,091 888,786 741,287 594,229

Fixed capital expenditures (Rs.000)

458,072

156,914

455,966 190,057 217,235 189,448

Balance sheet

Current assets (Rs.000)

3,857,386

3,552,358

4,483,595 4,426,787 4,402,188 5,128,633

Current liabilities (Rs.000)

4,408,998

4,069,031

4,551,077 4,855,243 4,702,128 5,532,753

Operating fixed assets (Rs.000)

4,871,288

4,775,130

5,090,266 5,057,443 4,978,446 4,995,808

Total assets (Rs.000)

8,912,046

8,508,167

9,646,738 9,553,696 9,499,464 10,167,984

Long term loans and finances (Rs.000)

2,123,703

1,743,354

1,619,468 1,721,125 1,445,078 1,089,075

Share holders' equity (Rs.000)

1,263,353

1,536,790

2,192,119 2,238,689 2,424,933 2,488,036

Ratios

Current ratio (As per SBP regulations)

0.87

0.87

0.99 0.91 0.94 0.93 Equity: Debt ratio (As per SBP regulations)

0.39

0.47

0.58 0.57

0.64 0.71

Leverage

3.35

2.56

2.07 2.36 1.99 2.19

Gross profit to sales 17.8% 18.3% 15.99% 13.20% 11.184% 10.05%

Net Profit before tax to sales 1.32% 4.02% 5.39% 1.41% 2.15% 1.75%

Earning per share

9.83

28.60

44.91 2.80 12.98 5.44

Proposed Dividend NIL% 20% 15% NIL% 15% NIL

vi) Name of Share registrar.

Name Office Address Najeeb Consultants (Pvt) Limited

405 Commerce Centre, Hasrat Mohani Road, Behind MCB Tower, Karachi

The website is updated on October 10, 2014


Tel: +92 (21) 3241-4334~6 Fax: +92 (21) 3241-9593

Email: [email protected] Web: www.QuettaGroup.com

January 13, 2015

Free float of the shares of Company

Dear Sir, In accordance with the Regulation No.21(3) of the Listing Regulations, we provide the Free –Float of shares of our Company as on 31 December , 2014 hereunder : Total Outstanding Shares 13,000,000 Less : Shares held by directors/sponsors 4,249,112 Government Holding as promoter / acquirer / controller NIL Shares held by Associated Companies (Cross holdings) NIL Shares held with general public in physical Form 352,097 _________ 4,601,209 __________ Free Float 8,398,791 ========== Total number of shares available in CDS 12,644,903 Total number of shares in physical form 355,097

mailto:[email protected]

http://www.quettagroup.com/



October 10, 2014

Free float of the shares of Company Dear Sir, In accordance with the Regulation No.21(3) of the Listing Regulations, we provide the Free –Float of shares of our Company as on 30 September , 2014 hereunder : Total Outstanding Shares 13,000,000 Less : Shares held by directors/sponsors 4,249,112 Government Holding as promoter / acquirer / controller NIL Shares held by Associated Companies (Cross holdings) NIL Shares held with general public in physical Form 352,097 _________ 4,601,209 __________ Free Float 8,398,791 ========== Total number of shares available in CDS 12,644,903 Total number of shares in physical form 355,097



April 11, 2014 The General Manager, Karachi Stock Exchange (Guarantee) Ltd Karachi Stock Exchange Building, Stock Exchange Road Karachi.

Free float of the shares of Company Dear Sir, In accordance with the Regulation No.21(3) of the Listing Regulations, we provide the Free –Float of shares of our Company as on 31 March , 2014 hereunder : Total Outstanding Shares 13,000,000 Less : Shares held by directors/sponsors 4,248,333 Government Holding as promoter / acquirer / controller NIL Shares held by Associated Companies (Cross holdings) NIL Shares held with general public in physical Form 352,617 _________ 4,600,950 __________ Free Float 8,399,050 ========== Total number of shares available in CDS 12,644,383 Total number of shares in physical form 355,617 Thanking you Yours truly, For: Quetta Textile Mills Ltd Director


Nadir House, I. I. Chundrigar Road, Karachi – 74000, Pakistan Tel: +92 (21) 3241-4334~6 Fax: +92 (21) 3241-9593

Email: [email protected] Web: www.QuettaGroup.com October 10, 2013

Free float of the shares of Company Dear Sir, In accordance with the Regulation No.21(3) of the Listing Regulations, we provide the Free –Flot of shares of our Company as on 30 September , 2013 hereunder : Total Outstanding Shares 13,000,000 Less : Shares held by directors/sponsors 4,248,333 Government Holding as promoter / acquirer / controller NIL Shares held by Associated Companies (Cross holdings) NIL Shares held with general public in physical Form 353,968 _________ 4,602,301 __________ Free Float 8,397,699 ========== Total number of shares available in CDS 12,643,032 Total number of shares in physical form 356,968 Last date of updated website Oct 11, 2013



July 11, 2013

Free float of the shares of Company Dear Sir, In accordance with the Regulation No.21(3) of the Listing Regulations, we provide the Free –Flot of shares of our Company as on 30 June , 2013 hereunder : Total Outstanding Shares 13,000,000 Less : Shares held by directors/sponsors 4,248,333 Government Holding as promoter / acquirer / controller NIL Shares held by Associated Companies (Cross holdings) NIL Shares held with general public in physical Form 353,968 _________ 4,602,301 __________ Free Float 8,397,699 ========== Total number of shares available in CDS 12,643,032 Total number of shares in physical form 356,968

QUETTA TEXTILE MILLS LIMITED Nadir House, I. I. Chundrigar Road, Karachi - 74000, Pakistan


April 10, 2013

The General Manager, Karachi Stock Exchange (Guarantee) Ltd Karachi Stock Exchange Building, Karachi,

Free float of the shares of Company

Dear Sir, In accordance with the Regulation No.21(3) of the Listing Regulations, we provide the Free -Float of shares of our Company as on 31 March , 2013 hereunder :

Total Outstanding Shares 13,000,000

Less : Shares held by directors/sponsors 4,248,333 Government Holding as promoter / acquirer / controller NIL Shares held by Associated Companies (Cross holdings) NIL Shares held with general public in physical Form 353,968

4,602,301

Free Float 8,397,699

Total number of shares available in CDS 12,643,032

Total number of shares in physical form 356,968

Last date of updated website April 10, 2013

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