ce) Crererr eet a a = = “A n a 3 S c ie an w a < E < Ee YOUSUF ADIL | allllcenlllliccntilincn ilies Mii: MiMi title titilem tied th a | THIS IS DIGITAL CERTIFIED COPY AND NEEDS NO STAM . 11-2023 (VALIDITY 01ALVO GANSSI 313 “aMNLYNDIS/dWW1S ON SGS4N ONY AdO3 GAtdL1aaI T¥LISIG SI STHL CHLNOW FO ALIGITWA) £Z0Z-11-62 COMPANY INFORMATION BOARD OF DIRECTORS CHAIRMAN CHIEF EXECUTIVE: DIRECTORS: COMPANY SECRETARY & CHIEF FINANCIAL OFFICER’ BANKERS: AUDITORS: LEGAL ADVISOR: REGISTERED OFFICE! E- MAIL ADDRESS Mr. Mazbar Valjee Mr. Bilal Shahid Anwar Mr. Shahid Anwar Tata Mr. Adee! Shahid Anwar Mr. Faroog Advani Ms. Samar Shahid Mr, Muhammad Hussain Mr, Junaid Hassan Bank Alfalan Limited Soneri Bank Limited JS Bank Limited Mis. Yousuf Adit Chartered Accountants Salman Shaikh, 6" Floor Textile Plaza, MA Jinnah Road Karachi “Tele 32412955-3 Lines 32426761-2-4 Foxit 32417710 thi.corporate@tatapakistan.comALVO GANSSI 319 “aMNLYNDIS/dWW1S ON SGS4N ONY AdO3 G4td11a9 T¥LISIG SI STHL CHLNOW 10 ALIGITWA) £Z0Z-11-62 TATA BEST FOODS LTD. © TATA PAKISTAN DIRECTORS’ REPORT TO THE MEMBERS ‘The Directors are gratified to presant this raport together with the Audited Financial Statements of the Company for the year ended June 30, 2023, “The names of the directors as at June 30, 2023 are as follaws: Mr. Mazhar Val) Chairman Mr. Bilal Shahid Anwa Chief Executive Me. Shahid Anwar Tata Director Mr. Adee! Shahid Anwar Director Ms. Samar Shahid Director |. Mr, Farooq Advani Director Principal Activities of the Company Tate Bost Foods Limited (TBFL) (the Company) is incorporated in Pakistan a unlisted public limited company, The principal activity of the Company Is processing meat and related by products. Development & Performance of the Company's Business For the year ended | Jun.23 Jun-22 Variation (Amount in PKR (000) % Sales Export 3,490,172 4,604,780 | 81.0% Sales Lecal 430,377, 308,750 16.7% Total Sale 3,880,549, 2,203,510 | 70.6% ‘Cost of Sales (3.040.516) (2,056,129) | 47.3% ‘Gross Profit/ (loss) 820,033 207,381 | 295.4% Gross Profit % 21.2% a Profit batere taxation 405.675 61.942 | 656.1% Profit aftor taxation 454,087 34,408 | 4397.9% Earnings por share 54 035 Our business has continued to grow and currsnt Year has reaped signifcant profits as to the prolific efforts put in over the last few years. Our overall sales have temarkably increased by 70.6% with capecty utlization gone up to 68.8% during the year. Rise in sales comprises of entering into new export markels yielding 32% addition over last year's expart sales alone, increase In previous sales quantity valuing 16%, and diversifying into sale of new further processed products to local customers together with increase in prices. This overall increase in sales, together with decrease in cost of consumption proportion have resulted in gross proft margin enhanced from, 9.2% to 21.2%. Reduction in costs attribute to our livestock Feedlot Farm operaiioris that increased during the year and contributed to the extent of 26.3% of total raw material cost of consumption versus 9.98% during the last year. Saving impact from Feediot Farm on cost contribution is 6.8%. We are confident that this positive 1G vias) aetezaacoray, s¢03) 212-243-2058, @o[02) 299.248.7710 @iniogieranerisien.com @em iniapadlatenicomCHLNOW FO ALIGITWA) £Z0Z-11-6z ALVO GANSSI 319 “aMNLYNDIS/dNW1S ON SG34N ONY AdO3 GALd11aI T¥LISIG SI STHL TATA BEST FOODS LTD. © PAKISTAN trend will continue in the years and contribution from Feediot business wil increase as we are targeting maximizing our feedlot capacity of 8000 animals in the upooming year to have access to better quality of animal inventory and prices of animals lower than market values togathar with lesser dependency ovar local ‘meat suppters, uring the year, the directors have also incorporated @ company named "UpCrop Private Lit and invested in 4 land to support srimal feed for Best Food business in order to minimize feed cost from outside purchase land ensure Uninterrupted availabilty of the ingredients sown, Description of the principal risks and uncertaintios facing the company: The Meat industry is a highly competitive business and risks remain; however, the Company has been abie to mitgate the risks by operating Feediot business segment and diversifying Into new markais and product lines in the export and domestic market. We will continue to invest into Feediot Business for cost optimization in the years to come along with investment in new product development to seok better margins overall, The Gf company was able to cover its financial costs and repayment of long-term loans as per commitments. We also hank our Sponsors who continue to show their commitment ‘inancialy and otherwise to support company to ‘meet its financial obligations in any event otherwise Principal Risks and Uncertaintios The pressure over margins were moderately eased out due to cost saving In raw material purchase cost although overall meat pricas were undar pressure due to consistent Increase in demand and causing increase In twestock prices in the county. Livestock prices continue to risa cua to escalating high inflation in the country. However, this upwerd move is in tne with globel livestock prices as feed commodity prices have \ncreased substantially in the last year. The continued depreciation of PKR ve USD has helped absorb some of the increase in costs Comments in respect of adequacy of internal financial controls ‘The Company maintaiis/anvestablishad control framework comprising clear structures, authorty its, and ‘accountabilities, weil understGod policies and procedures for review processes, All policies and cortro) procedures are documented jn manuals enabling the management to have clea’ understanding of risk areas ‘and to place etactive controls mitigate thase risks, Earnings per share Basic earnings per share of the company is Rs. 9.10 (2022: 0. 35) Dividend ‘Tho company needs to bulld up its strength in the-next few years and as such recommend that the profits ‘main in the company. Therefore, your directors recemmand foregoing dividend for this year also Appointment of Auditors ‘Tha present auditors Messrs. Yousut Adil Chartered Accouhtints, retire and being eligible, offer themselves for re-appointment. The directors endorse a to recommendation of the Audit Comittee for the re- ‘ppointnent of Messrs. Yousuf Adil Chartered Accountants as aiditors fer the financial year ending June 30, 2024 on such terms and conditions and remuneration be decided. @ in Fiver Teste Plava, MA Jinnah Rows, Karach7A000) Patlsian @ s¢#2) 213-242-0705, 2(02) 21a-aas 2090 Q (vs) 219-240-1710 Gintogiatapanisten com Qwww tatapariaian comTATA BEST FOODS LTD. © TATA "AKISTAN No material changes or commitments affecting the financial position of the Company have taken place between the end of the financial year and the date of the Report ‘Subsequent Events Acknowledgement last but not the least, the management would wholeheartedly acknowledge the untiring efforts of fehm members. As a team we stand highly grateful towards our customers, vendors, bankers, and all ‘ake holders for their continued support to the Campany through its progression in achiaving ig recutts in the current year, Ey to Almighty Allah for the continued prosperity of our Company. ON BEHALF OF THE BOARD OF DIRECTORS Kb —S Bilal Shahid Anwar Shahid Ahwar Tata Chief Executive Director hk: August 31, 2023 Th Fear WA sinnah Re 7200 02) 213-242-8701, #(92) 213-241-205 13-28 Qintoqintapssiatan.cam Qaw ALVO GANSSI 313 “aMNLYNDIS/dNW1S ON SGN ONY AdO9 GatdLa9 T¥LISIG SI STHL CHLNOW 10 ALIGITWA) £Z0Z-11-62CHINOW 10 ALIGIIVA) £Z0Z-11-62 # ALVG GANSSI 319 “AUNLYNIIS/ANW1S ON SG4aN ONY AdO3 GaId114a9 1119 SI STHL TATA BEST FOODS LTD TATA PAKISTAN Patterns of Holding of Sharos Held by the Sharoholders ‘Ag At June 30, 2023 NO. OF SHARE-HOLDING ‘TOTAL SHARES SHAREHOLDERS FROM. 10 HELD 1 00 500 9090003 -440c0000 43,364,502 ‘45000003 So0e000 45,234,989) ee NS, CATEGORIES OF SHAREHOLDERS NUMBER OF SHARES HELD PERCENTAGE SHAREHOLDER RECTORS, THER SPOUSE(S) AND WINOR CHILDREN 6 188,499,700 100.00 ASSOCIATED COMPANIES, HOLDING COMPANIES AND o ELATED PARTIES MUTUAL FUNDS ° : OTHERS 300, Detall of Gategorien of Sharefojders No, of Shareholders ‘Sate Held DIRECTORS, THEIR SPOUSE(S) & WliNOR ‘CHILDREN ‘Me, Mazhar Vayjex ( Charman.) 100 ir Bial Shahid Anwar (Chiat Enedytve ) 4,484,067 var Shave Anwar (Orector ) 49 134,998 ‘41 Adee! Shania Anwar (Director) 4 484,367 Jnr Farooq Advani ( Drector ) 100 is, Samar Shad ( Drector) 14,454,767. 499,700 OTHERS Mr Muhanad Jawai Iqbal ' 100 !r- Owaig Armed Abbe 100 Mr Asif Saleen Grand Totat z 15,500,000 @ cin Flaws, Tentle Plaze, WA, Jinnah Road, Karachi 74000, Palate @ +152) 213-742-6761. «(92) 219-241-2655 Q (92) 213-241-7710 Qino@iataporistanicom @www.tatapahisien.com