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Annual Report 2019 23

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Annual Report 2019 23 With a dream to shine and a goal to build a stronger tomorrow, we thrive to enhance sustainability, cost effectiveness, diversification and add value for the stakeholders while expanding global presence. We are committed to constantly improve our brand value, products, services and relationships with our stakeholders. Our forward destination is to expand on our existing portfolio while taking on new opportunities. By sustaining our velocity, we will make it possible to shape a stronger and brighter tomorrow. CONTENTS ORGANIZATION OVERVIEW AND STRATEGY AND RESOURCE EXTERNAL ENVIRONMENT ALLOCATION 6 Company and its Investments 70 Our Business Model 8 Key highlights 71 Strategic Objectives 10 Adoption and Statement of Adherence to IR Framework 72 Resource Allocation Plans to Implement the Strategy 11 Organization overview and external environment and Financial Capital Structure 12 Local and international markets 73 Key Performance Indicators KPIs 12 Export destinations 73 Significant Plans and Decisions 13 Quality assurance of products 74 HR Excellence 13 Diversification and wealth creation for its Shareholders 14 Core brands GOVERNANCE 15 Geographical locations 17 Vision, Mission 81 Chairman’s Profile 18 Culture 82 CEO’s Profile 18 Ethics 84 Directors’ Profiles 19 Core values 88 Executive Management 20 Code of Conduct 90 Senior Management 22 Road to success 91 Chairman’s Review Report 24 Company Profile 92 Board’s Function and Decision Making 36 Group Profile 93 Decisions Delegated to the Management 40 Company Information 93 Board’s Annual Evaluation of Performance 42 Organogram 93 Evaluation Criteria for the Board 44 Our Human Capital – Employees 93 Directors’ Orientation 47 CEO’s Message 94 Directors Training Program 48 Awards and Accolades 94 Policy for Remuneration to Non- Executive Directors 50 Position within the Value Chain 94 Foreign Directors 52 Factors Affecting the External Environment 94 Board’s Policy on Diversity 54 Significant changes from prior years 94 Details of any Board Meetings held Abroad 54 Composition of local vs Imported Products 94 Related Parties 55 SWOT Analysis 94 Approved Policy for Related Party Transactions 56 Competitive Edge 95 Shares Held by Sponsors/Directors/Executives 58 Brand Equity 95 Announcement of Financial Results 96 Profile of Shariah Advisors RISK AND OPPORTUNITIES 97 Shariah Review Report 98 Role of Chairman 62 Key Risks and Opportunities 99 Role of CEO 65 Our approach to materiality 100 Corporate Governance Framework 66 Key Sources of Estimating Uncertainty 100 Compliance with CCG 66 Key estimates and assumptions concerning future 100 Governance Practices exceeding Legal Requirements 101 Management responsibility in preparing financial statements SUSTAINING OUR 2 VELOCITY 101 Business ethics and Anti-Corruption SUSTAINABILITY AND CORPORATE 101 Conflict of Interest Policy SOCIAL RESPONSIBILITY 101 IT Governance Policy 102 Whistle Blowing Policy 152 Health, safety and Environment 102 Safety of Records Policy 154 Sustainability Highlights 103 Investor Grievance Policy 157 CSR Highlights 103 Social and Environmental Responsibility Policy 160 Health and Other Community Projects 104 Business Continuity and Disaster Recovery Plan 104 Stakeholder Engagement Policy and Procedures STRIVING FOR EXCELLENCE 105 HR Policy 105 Sustainability & CSR Policy IN CORPORATE REPORTING 107 Report of the Audit Committee 109 Directors’ Report 163 Independent Auditor’s Review Report 124 Statement of Compliance with Listed Companies CCG 164 Independent Assurance Report on Compliance 126 Financial Highlights with the Shariah Governance Regulations, 2018 167 Independent Auditor’s Report to the Members STAKEHOLDER RELATIONSHIP 172 Unconsolidated Statement of Financial Position 173 Unconsolidated Statement of Profit or Loss and Other AND ENGAGEMENT Comprehensive Income 174 Unconsolidated Statement of Cash Flows 140 Stakeholder Engagement – Bridging the gap 175 Unconsolidated Statement of Changes in Equity 141 Investor Relations Section on LCL’s website 176 Notes to the Unconsolidated Financial Statements 141 Understanding Shareholder Views 210 Independent Auditor’s Report to the Members 141 Encouragement of minority Shareholders to attend 215 Consolidated Statement of Financial Position Annual General Meetings 216 Consolidated Statement of Profit or Loss and Other 141 Customers and Dealers Comprehensive Income 142 Media 217 Consolidated Statement of Cash Flows 142 Investors and Shareholders 218 Consolidated Statement of Changes in Equity 142 Regulators 219 Notes to the Consolidated Financial Statements 142 Corporate Briefing Session FY 2018-19 273 Pattern of Shareholding 143 Proceedings of the 25th AGM 277 Notice of Annual General Meeting 144 Calendar of Major Events 284 Glossary 285 Form of Proxy (English) OUTLOOK 286 Form of Proxy (Urdu) 292 Notice of Annual General Meeting (Urdu) 148 Forward Looking Statement 305 Directors’ Report (Urdu) 149 Financial Projections 306 Jama Punji Information 20 3 19 ORGANIZATION OVERVIEW AND EXTERNAL ENVIRONMENT COMPANY AND ITS INVESTMENTS Lucky Cement Limited Holding Company Lucky Cement Holdings LCL Holdings (Private) Limited Limited 100% 100% ICI Pakistan Lucky Electric Limited Power Company 54.72% 100% ICI Pakistan PowerGen NutriCo Morinaga Cirin Pharmaceuticals NutriCo Pakistan Limited (Private) Limited (Private) Limited (Private) Limited 100% 51% 100% 40% SUSTAINING OUR 6 VELOCITY KIA Lucky Motors LCL Investment Lucky Holdings Yunus Energy Pakistan Limited Holdings Limited Limited Limited 75.28% 100% 75% 20% Lucky Rawji Holdings Lucky Al Shumookh Al Shumookh Lucky Limited Holdings Limited Investment LImited 50% 50% 50% Nyumba Ya Al Mabrooka Cement Najmat Akiba S.A. Manufacturing Company Al Samawah 100% 100% 100% 20 7 19 KEY HIGHLIGHTS FOR THE YEAR 2018-19 We announced our financial results for the year ended June 30, 2019 on July 27, 2019. In addition to the reported and comparable metrics, we highlight below key figures based on our standalone Financial Statements for our stakeholders. Sales Profit After Tax PKR in 000 PKR in 000 2019 67,547,938 2019 10,490,229 2018 67,376,579 2018 12,197,090 Percentage Change 0.25% Percentage Change 13.99% Total Assets Capital Expenditure PKR in 000 PKR in 000 2019 125,089,214 2019 19,683,325 2018 108,999,117 2018 6,444,831 Percentage Change 14.76% Percentage Change 205.41% Earnings Per Share Donations PKR PKR in 000 2019 32.44 2019 313,247 2018 37.72 2018 286,329 Percentage Change 13.99% Percentage Change 9.40% SUSTAINING OUR 8 VELOCITY KEY HIGHLIGHTS BASED ON CONSOLIDATED FIGURES Sales Profit After Tax PKR in 000 PKR in 000 2019 108,295,645 2019 12,346,955 2018 97,541,884 2018 16,173,553 Percentage Change 11.02% Percentage Change 23.66% Total Assets Capital Expenditure PKR in 000 PKR in 000 2019 227,021,287 2019 65,972,978 2018 165,123,065 2018 19,835,814 Percentage Change 37.49% Percentage Change 232.60% Earnings Per Share Donations PKR PKR in 000 2019 35.03 2019 357,911 2018 45.83 2018 327,445 Percentage Change 23.57% Percentage Change 9.30% 20 9 19 STATEMENT OF ADOPTION AND ADHERENCE WITH THE INTERNATIONAL INTEGRATED REPORTING FRAMEWORK Since the global trend in corporate reporting is changing, The first time implementation of the Integrated Reporting so has our Annual report changed to harmonize with the Framework required strong commitment by the management global reports all around the world. In today’s complex social who carry ultimate responsibility for the preparation and and environmental circumstances, integration of financial, presentation of the integrated report. From CEO, to directors social and environmental information is one of the most and senior management, every person contributed in the effective ways for an organization to report its performance implementation of IR framework to provide an insight to the and activities and to demonstrate to the market and society, stakeholders about the Company’s value creation process. the importance of linking sustainability issues to business strategies. Being a company with global recognition, we The management has designed this Integrated Report have always been adaptive in response to global changes to give readers an insight into the strategic thinking that and advancements. drives Lucky Cement forward, encompassing our strategy, governance, performance and prospects in the context of Our Integrated Annual Report has been created to better global environment articulate the broader range of measures that contribute to long-term value. Success involves anticipating the future. We hope that this Integrated Report will help our stakeholder We continually track and monitor evolving stakeholder understand how we create value through our business preferences, shifting market conditions and emerging model. Since, Integrated Reporting is in the early stages of trends. To win our customers and stakeholders, we take development, we are looking forward to make it more useful proactive approaches, navigate changing expectations and for our stakeholders, at this stage, we have included the demonstrate business agility. following content elements in our report: Lucky cement has always been transparent in its practices • Organizational overview and external environment of value creation for its investors of financial capital. We • Risks and opportunities remain committed to strong corporate governance and leadership as well as transparency in our disclosures. We • Strategy and resource allocation will continue to review our reporting approach to ensure they • Governance meet best
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