Vision Statement
To be the leader in textile industry by building the Companys' image through quality, competitive prices, customer's satisfaction and meeting social obligation.
Mission Statement
Our Mission is to be recognized as a premium quality yarn
manufacturing unit.
The Unit is setup with an idea to cater to the premium market of
fine count compact yarn to satisfy the valuable customers.
To assume leadership role in the technological advancement of the
industry.
To benefit the customers, employees and
shareholders and to fulfill our commitments to the society.
Our trademark is honesty, innovation, fairness, teamwork of our people
and integrity in relationship with our customers, associates,
shareholders, community and stake holders.
CONTENTS
Company Information | 4 |
Notice of Annual General Meeting | 5 |
Chairman's Review | 7 |
Directors' Report | 8 |
Financial Highlights | 13 |
Statement of Compliance with Listed Companies | |
(Code of Corporate Governance) Regulations, 2019 | 14 |
Independent Auditors' Review Report to the Member on Statement of Compliance | |
contained in Listed Companies (Code of Corporate Governance) Regulations, 2019 | 16 |
Independent Auditors' Report | 17 |
Statement of Financial Position | 21 |
Statement of Profit or Loss | 22 |
Statement of Comprehensive Income | 23 |
Statement of Cash Flows | 24 |
Statement of Changes in Equity | 25 |
Notes to the Financial Statements | 26 |
Pattern of Share Holding | 48 |
54 |
56
Jama Punji
Form of Proxy
COMPANY INFORMATION
BOARD OF DIRECTORS | ||
Executive Directors | : | Syed Maqbool Ali |
Chief Executive Officer & Director | ||
Non-Exective Director | : | Mehmood-Ul-Hassan Asghar - Chairman, Board of Directors |
Mr. Ghazanfar Baber Siddiqi | ||
Mr. Abdul Basit | ||
Mr. Muhammad Hanif German | ||
Mrs. Nida Jamil | ||
Independent Director | : | Mr. Aziz -ul-Haque |
Audit Committee | : | Mr. Aziz -ul-Haque (Chairman) |
Mr. Abdul Basit (Member) | ||
Mr. Ghazanfar Baber Siddiqi (Member) | ||
Human Resources & Remuneration | : | Mr. Aziz -ul-Haque (Chairman) |
Committee | Mr. Mehmood-ul-Hassan Asghar (Member) | |
Syed Maqbool Ali (Member) | ||
Auditors | : | Feroze Sharif Tariq & Company |
Chartered Accountants | ||
4/N/4 Block-6, P.E.C.H.S. Karachi | ||
Company Secretary | : | Mr. Muhammad Hanif German |
Chief Financial Officer | : | Mr. Muhammad Irfan Ali |
Tax Advisor | : | Abbas & Atif Law Associates |
Legal Advisor | : | Sharif & Co. Advocates |
Bankers | : | United Bank Limited |
Bank Islami Pakistan Limited | ||
MCB Bank Limited | ||
Silk Bank Limited | ||
Askari Bank Limited | ||
Allied Bank Limited | ||
Soneri Bank Limited | ||
Summit Bank Limited | ||
Registered Office | : | Dewan Centre |
3-A, Lalazar Beach Hotel Road | ||
Karachi. | ||
Shares Registrar & Transfer Agent | : | BMF Consultants Pakistan (Private) Limited |
Anum Estate Building, Room No. 310 & 311, | ||
3rd Floor, 49, Darul Aman Society, | ||
Main Shahrah-e-Faisal, adjacent to Baloch Colony Bridge, | ||
Karachi 75350, Pakistan. | ||
Factory Office | : | 54 Km, Multan Road, Phool Nagar By Pass |
District Kasur, Punjab , Pakistan. | ||
Website | : | www.yousufdewan.com |
04 ANNUAL REPORT 2023
NOTICE OF ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN that the TwentiethAnnual General Meeting of Dewan Farooque Spinning Mills Limited ("DFSML" or "the Company") will be held on Thursday, October 26, 2023, at 2:00 p.m. at Dewan Cement Limited Factory Site, at Deh Dhando, Dhabeji, District Malir, Karachi, Pakistan; to transact the following businesses upon recitation from Holy Qur'aan and other religious recitals:
ORDINARY BUSINESS:
- To confirm the minutes of the preceding Extra Ordinary General Meeting of the Company held on Thursday, January 26, 2023;
- To receive, consider, approve and adopt the annual audited financial statements of the Company for the year ended June 30, 2023, together with the Directors' and Auditors' Reports thereon;
- To confirm the appointment of the Statutory Auditors of the Company for the year ended June 30, 2024, and to fix their remuneration;
- To consider any other business with the permission of the Chair.
By order of the Board
Karachi: September 28, 2023 | Muhammad Hanif German |
Director & Company Secretary |
NOTES:
- The Share Transfer Books of the Company will remain closed for the period from October 19, 2023 to October 26, 2023 (both days inclusive).
- Members are requested to immediately notify change in their addresses, if any, at our Shares Registrar Transfer Agent BMF Consultants Pakistan (Private) Limited, located at Anum Estate Building, Room No. 310 & 311, 3rd Floor, 49, Darul Aman Society, Main Shahrah-e-Faisal, adjacent to Baloch Colony Bridge, Karachi, Pakistan.
- A member of the Company entitled to attend and vote at this meeting, may appoint another member as his/her proxy to attend and vote instead of him/her. Proxies, in order to be effective, must be received by the Company at the abovesaid address, not less than 48 hours before the meeting.
- CDC Account holders will further have to observe the following guidelines, as laid down in Circular 01 dated January 20, 2000, issued by the Securities and Exchange Commission of Pakistan:
- ForAttending Meeting:
- In case of individual, 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 the regulations, shall authenticate his/her identity by showing his/her original National Identity Card (CNIC), or original passport at the time of attending the meeting.
- In case of corporate entity, the Board of Directors' resolution/power of attorney, along with the specimen signature of the nominee, shall be produced (unless it has been provided earlier) at the time of meeting.
- ForAppointing Proxies:
- In case of individual, 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 the regulations, shall submit the proxy form as per the above requirements.
- Two persons, whose names, addresses, and CNIC numbers shall be mentioned on the form, shall witness the proxy.
ANNUAL REPORT 2023 05
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Dewan Farooque Spinning Mills Ltd. published this content on 05 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2023 09:26:20 UTC.