Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Environment
• Health
• Community Development

Environmental Achievements

• Uses all means to ensure a clean, safe, healthy and pollution free environment
• Employs technology beneficial in maintaining a healthy and hygienic working environment
• Induction of bio-fuel based boiler resulted in savings in Fuel and energy costs

Social Achievements

• Donated Rs. 7.5 million to The Citizens Foundation Schools for construction of schools for under-privileged children
• Actively involved in social responsibility initiatives in the field of primary education and health care
• Taking an active part through APTMA initiatives for Clean Water for remote areas
• Maintains cordial relationship with customers
• Ensures employees work towards achievement of corporate objectives
• Believes in continuous development and training of its employees
• Recognizes employees’ contribution towards its growth and rewards them based on their performance

Governance Achievements

• Strictly adheres to the principles of good corporate governance and is committed to high standards of corporate governance
• Regularly updates and upgrades manufacturing and reporting systems
• Maintains effective, transparent and secure financial reporting and internal control systems

Climate Goals & Targets

Environmental Challenges

• Continuing political uncertainty exacerbating problems for the export-based textile industry
• Continuing global recession and increasing competition from regional players in value-added sector
• Unreliable gas and electricity supply situation in the country

Mitigation Strategies

• Pursuing a two-pronged strategy of increasing revenues and improving margins
• Higher productive capacity by intensive marketing efforts focusing on market development and penetration, product development
• Better supply-chain management for raw materials and increased reliance on alternate fuels for power-generation

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Code of Corporate Governance (CCG)

Environmental Metrics

ESG Focus Areas

• Safety
• Environment
• Health
• Community Development

Environmental Achievements

• Significant reduction in fuel costs due to reduction in international fuel prices and improved supplies of Natural Gas and electricity.
• Installation of bio-fuel based boiler

Social Achievements

• Donated Rs. 8 million to The Citizens Foundation Schools for construction of schools for under-privileged children.
• Donated Rs. 5 million to Friends of Punjab Institute of Cardiology (PIC) for building a new emergency block and state-of-the-art Cath Lab at PIC, Lahore.
• Active participation through APTMA initiatives for Clean Water for remote areas.
• Provided safe & healthy workplace for both staff & contractors

Governance Achievements

• Compliance with the Code of Corporate Governance
• Regular Board meetings (four held during the year)
• Active Audit Committee (five meetings held during the year)
• Active Human Resource and Remuneration Committee (three meetings held during the year)

Climate Goals & Targets

Environmental Challenges

• Higher international competition, especially in weaving sector, resulting in lower profitability.
• Unreliable gas and electricity supply situation in Pakistan.
• Decline in overall annual textile exports in Pakistan due to political turmoil, security situation and power crisis.

Mitigation Strategies

• Management taking earnest steps to improve performance in weaving division.
• Intensifying product development and marketing efforts in dyeing division.
• Considering various alternate-fuel based energy options, including installation of a 30 TPH coal-fired boiler.
• Pursuing a two-pronged strategy of improving revenues by better selling and improving margins by driving down costs.
• Better supply-chain management for raw materials and innovation in production processes.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Companies Ordinance, 1984, Code of Corporate Governance (CCG)

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Provided safe & healthy workplace for all employees; philanthropic activities including participation in health and education sector initiatives.
• Not disclosed

Governance Achievements

• Full compliance with all applicable laws and regulations; commitment towards teamwork; uncompromising ethics and honesty; distinct Corporate and Social Responsibility policy; avoidance of conflict of interest and justice to all.
• Compliance with the Code of Corporate Governance

Climate Goals & Targets

Environmental Challenges

• Tough playing field for textile exporters in Pakistan due to high cost of doing business (high gas and power tariff, levy of GIDC, overvalued Pak rupee exchange rate), downturn in global apparel and retail sales, patchy implementation of government relief measures, and escalating political uncertainty.
• Rising raw material costs, reduced margins due to dull overseas demand, and recent rise in coal and HFO prices.

Mitigation Strategies

• Focusing on new business avenues in local and export markets; installing additional high-speed looms to increase production capacity; BMR and slight modification program to enhance production capacity by 20%; better marketing, improved capacity utilization, and better supply chain management to keep costs low; BMR program to enhance production capacity and improve efficiency and cost effectiveness.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Safety
• Health
• Environment
• Community Development

Environmental Achievements

• Uses technology to maintain a clean, safe, and healthy, pollution-free environment
• Considering installation of fuel-efficient gas engine to address escalated energy costs
• Switching to seasonal biomass from coal to tackle coal price increases

Social Achievements

• Maintains cordial relationships with customers
• Provides high-quality products and services conforming to highest international standards
• Ensures employee work towards corporate objectives
• Provides continuous development and training of employees
• Rewards employees based on performance
• Nurturing a sense of belonging among employees
• Participation in health and education sector initiatives

Governance Achievements

• Board exercised professional duties with integrity, honesty, and diligence
• Board focused on future strategy and set financial and operational targets
• Board regularly tracked progress against budgeted targets
• Board committees worked diligently and focused on their terms of reference
• Board carried out a review of its effectiveness and performance
• Company prepared and disseminated Code of Conduct

Climate Goals & Targets

Environmental Challenges

• High cost of doing business in Pakistan
• Artificially maintained high parity of Pak Rupee
• Adverse geopolitical and security situation
• Consistent decline in country’s textile exports
• Patchy implementation of promises under textile package
• Higher utility costs owing to global increase in crude oil prices
• Sluggish demand in overseas market
• Raw material price-hike coupled with high utility cost
• Rise in coal, RLNG, and HFO resulting in decreased margins
• Rise in coal prices increasing cost of steam production

Mitigation Strategies

• Taking earnest steps to improve performance, including focusing on new business avenues in local and export markets
• Installed additional 84 high-speed air jet looms (60% increase in weaving capacity)
• Installation of additional equipment (20% increase in dyeing capacity)
• Considering installation of fuel-efficient gas engine
• Switching to seasonal biomass from coal

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Companies Act, 2017

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Implemented online meeting and work from home policies during Covid-19, protecting workforce and contributing to pandemic prevention.
• Not disclosed

Governance Achievements

• Statement of Compliance with Listed Companies (Code of Corporate Governance) Regulations, 2019 annexed to the report.
• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Operational challenges due to Covid-19 outbreak.
• Global economic slowdown caused by Covid-19 impacting export orders.
• Government revised electricity tariff 20% higher than previous tariff.

Mitigation Strategies

• Government initiatives including timely release of Drawback of Local Taxes and Levies, customs rebate and sales tax refunds, availability of borrowing at reduced rates and deferment of loans.
• Government decision to restart industry post Covid-19 and limit lockdowns.
• Procured two new gas engines to reduce fuel cost by about 20%.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed