Matco Foods : Tnasmission of Quarterly Report for the Period Ended 2023-03-31

TABLE OF CONTENTS

Our Legacy	01
Business Profile	02
Company Information	03
Mission & Vision	05
Directors' Review Report - English	06
Directors' Review Report - Urdu	08
Condensed Interim Unconsolidated Statement of Financial Position (Un-audited)	11
Condensed Interim Unconsolidated Statement of Profit or Loss (Un-audited)	13
Condensed Interim Unconsolidated Statement of Comprehensive Income (Un-audited)	14
Condensed Interim Unconsolidated Statement of Changes in Equity (Un-audited)	15
Condensed Interim Unconsolidated Statement of Cash Flows (Un-audited)	16
Notes to the Condensed Interim Unconsolidated Financial Statements (Un-audited)	17
Condensed Interim Consolidated Statement of Financial Position (Un-audited)	27
Condensed Interim Consolidated Statement of Profit or Loss (Un-audited)	29
Condensed Interim Consolidated Statement of Comprehensive Income (Un-audited)	30
Condensed Interim Consolidated Statement of Changes in Equity (Un-audited)	31
Condensed Interim Consolidated Statement of Cash Flows (Un-audited)	32
Notes to the Condensed Interim Consolidated Financial Statements (Un-audited)	33

Matco Foods Limited

3rd Quarterly Report 2023

OUR LEGACY

The journey of Matco started with the entrepreneurial aptitude of Syed Sarfaraz Ali Ghori, who established his own company by the name of Muhammad Ali Trading Company (MATCO) in 1964 and initially began supplying and commissioning rice plant and equipment for the Government of Pakistan.

Today, Matco has over 250 global customers and exports its consumer products to over 70 countries worldwide. The Company also holds Organic Certifications from the US NOP and EU Organic Certification from Control Union and is an IFC investee company since 2012.

In 2015, Matco Rice Processing (Pvt.) Limited changed its name to Matco Foods (Pvt.) Limited, and subsequently to Matco Foods Limited before listing in PSX, reflecting its mission of becoming a leading food corporation. Matco is a committed member of the society and strives to make constructive efforts for the welfare of the community.

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3rd Quarterly Report 2023

BUSINESS PROFILE

Matco Foods Limited is a leading Food Processing & Export Company in South Asia that provides packed consumer foods products that offer convenience and supplies quality ingredients to the pharmaceuticals and confectionery industries. The Company's products include basmati rice, rice glucose, rice protein, pink salt, masalas and spices, dessert mixes, and more.

With over 50 years of experience in the rice industry, and a global portfolio of more than 250 corporate customers, the Company is the largest basmati rice exporter from Pakistan, and its flagship brand "Falak Basmati Rice" is available in more than 70 countries worldwide. Matco also exports private-label brands to over 70 countries across the globe. The Company operates 5 rice processing and milling plants which include vertically-integrated paddy drying, storage, husking, and processing facilities in Sadhoke, Punjab and Karachi, Sindh.

In 2017 and 2019, Matco Foods recently diversified its operation within the domain of specialized products i.e., Rice Glucose and Rice Protein, with a plant production capacity of 30,000 MT per annum and 3,000 MT per annum of Rice Glucose and Rice Protein respectively.

Matco Foods has commissioned its 200 Tons per Day Corn Starch Plant in Faisalabad Special Economic Zone in August 2022 and start its commercial production in the month of September 2022 which inches your company more towards diversification.

The Company aims to serve the changing needs and preferences of global consumers and therefore holds Organic Certification from the US NOP and EU Organic Certification from Control Union. Matco Foods Limited is also the only IFC investee company in its sector since 2012.

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COMPANY INFORMATION	_______	____
BOARD OF DIRECTORS
Mr. Jawed Ali Ghori	Chairman
Mr. Khalid Sarfaraz Ghori	Chief Executive Officer
Mr. Faizan Ali Ghori, CFA	Executive Director
Mr. Safwan Khalid Ghori	Executive Director
Mr. Syed Kamran Rasheed	Independent Director
Mr. Abdul Samad Khan	Independent Director
Mrs. Faryal Murtaza	Non-executive Director
Ms. Umme Habibah	Independent Director
Mr. Muhammad Mohsin	Independent Director
AUDIT COMMITTEE
Mr. Syed Kamran Rasheed	Chairman
Mr. Abdul Samad Khan	Member
Mr. Mohammad Mohsin	Member
HUMAN RESOURCE & REMUNERATION COMMITTEE
Ms. Umme Habibah	Chairman
Mr. Jawed Ali Ghori	Member
Mr. Khalid Sarfaraz Ghori	Member
Mr. Faizan Ali Ghori, CFA	Member
Mrs. Faryal Murtaza	Member

CHIEF FINANCIAL OFFICER

Mr. Muhammad Aamir Farooqui, FCMA

COMPANY SECRETARY

Mr. Muhammad Noman Ansari, ACMA

Mr. Bilal Ahmed, ACCA	HEAD OF INTERNAL AUDIT
	LEGAL ADVISOR
Muhammad Javaid Akhter	A-55/56, Federal 'B' Area, Karachi, Pakistan
	AUDITORS
Grant Thornton Anjum Rahman	Grant Thornton Anjum Rahman (GTAR)
	1st and 3rd Floor, Modern Motors House
	Beaumont Road, Karachi, Pakistan
	Tel (Office): [phone]
	Fax: [phone]
	Website: www.gtpak.com

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