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STANDING STRONGATTOCK PETROLEUM LIMITED FINANCIAL 89% PAYOUT HIGHLIGHTS RATIO Rs

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STANDING STRONGATTOCK PETROLEUM LIMITED FINANCIAL 89% PAYOUT HIGHLIGHTS RATIO Rs ATTOCK PETROLEUM LIMITED ANNUAL REPORT 2020 ANNUAL 20 REPORT 20 ATTOCK PETROLEUM LIMITED ATTOCK Attock Petroleum Limited Attock House, Morgah, Rawalpindi - Pakistan Tel: +92-51-5127250-54 | Fax: +92-5127255 Email: [email protected] www.apl.com.pk STANDING STRONGATTOCK PETROLEUM LIMITED FINANCIAL 89% PAYOUT HIGHLIGHTS RATIO Rs. Rs. 10.13 1,008 Million EARNINGS PROFIT PER SHARE AFTER TAX Rs. 1,084 Million OPERATING PROFIT Rs. Rs. Million 3,638 Million 201,179 GROSS NET SALES PROFIT REVENUE 234 ANNUAL REPORT 2020 TABLE OF CONTENTS Introduction (2-27) Risk and Opportunity Report (104) Our Vision, Our Mission (2) Segmental Review of Business Performance (106) Corporate Strategy (3) Report of the Audit Committee (107) Core Values (4) Share Price Sensitivity Analysis (110) Code of Conduct (5) History of Major Events during the Year (111) Brief Company Profile (11) Information Technology Governance (112) Product Portfolio (12) Independent Auditor’s Review Report (113) Geographical Presence of APL Business Unit (16) Statement of Compliance with Listed Companies (114) APL Group Structure (18) Organizational Chart (20) Financial Analysis (117-132) Value Chain (21) DuPont Analysis (118) Business Model (23) Key Operating and Financial Competitive Landscape and Market Positioning (24) Data for Six Years (119) Composition Local Versus Imported Material Vertical Analysis (122) and Sensitivity Analysis due to Foreign Currency Horizontal Analysis (123) Fluctuations (25) Graphical Presentation (124) Management’s Objectives & Strategies (26) Comments on Financial Analysis (127) Statement of Economic Value Added (129) Chairman’s Review (28-29) Statement of Free Cash Flow (129) Chairman’s Review (28) Analysis of Performance against Targets (130) Statement of Charity Account (130) Governance (31-116) Analysis of Variation in Results of Board of Directors (32) Interim Reports (131) Profile of Board of Directors (34) Statement of Value Added (132) Board Committees and Corporate Information (39) Financial Statements (133-210) Board Committees and their Terms Independent Auditor’s Report to the of Reference (41) Members (135) Management Committees (42) Statement of Financial Position (140) Whistle Blower Protection Statement of Profit or Loss (142) Mechanism Policy (43) Statement of Profit or Loss and Other Comprehensive Directors’ Report (44) Income (143) Pattern of Shareholding (78) Statement of Changes in Equity (144) Other Corporate Governance Matters (80) Statement of Cash Flows (145) Stakeholder Engagement (84) Notes to and forming part of the Corporate Sustainability (86) Financial Statements (146) Environmental Responsibility (88) Annual General Meeting (211-214) HSE at APL (92) Notice of Annual General Meeting (211) Corporate Social Responsibility (96) Human Resource Management (99) Glossary of Terms (215) Prospects of the Entity including Targets for Directors’ Report (Urdu) (245) Financial and Non-Financial Measures (103) Proxy Form Proxy Form (Urdu) ATTOCK PETROLEUM LIMITED 1 OUR VISION To become a world class, professionally managed, fully integrated, customer focused, Oil Marketing Company, offering Value added quality & environment friendly products and services to its customers in Pakistan and beyond. OUR MISSION To continuously provide quality and environment friendly petroleum products and related services to industrial, commercial and retail consumers, and exceeding their expectations through reliability, economy and quality of products and services. We are committed to benefiting the community and ensuring the creation of a safe, responsible and innovative environment geared to client satisfaction, end user gratification, employees’ motivation and shareholders value. 2 ANNUAL REPORT 2020 CORPORATE STRATEGY To enable APL to attain new heights of success through investment in human capital, implementation of lean production methods and a commitment to Total Quality and Environment Management, we plan, with the help of Almighty Allah, to further expand our existing retail network and penetrate untapped markets with pro-active measures and effective planning, implementation and execution. Our objective is to successfully deliver premium quality products and services, which will translate into maximum customer satisfaction. Beyond the technical excellence of our products, we intend to set an example in all dimensions of our entrepreneurial activities. We see ourselves committed to the self defined models of economic, social and ecological responsibility, which means not only economic success but also conscientious interaction with our employees, people and the environment. ATTOCK PETROLEUM LIMITED 3 CORE VALUES ETHICAL PRINCIPLES AND MORAL VALUES We promote a commitment to the highest moral values and ethical principles, demanding both personal and professional dedication towards the realization of these values and principles. MAXIMUM STAKEHOLDER RETURN Through our streamlined business processes and commitment to total quality management we seek to ensure maximum company performance and rewards for shareholders and stakeholders alike. CORPORATE SOCIAL CITIZENSHIP We strongly believe in the promotion of societal well-being and awareness within ones community, actively engaging in activities and initiatives to meet this objective. COMMITMENT & COOPERATION Two core fundamentals for the success of any business are complete employee commitment and cooperation. At APL, we foster an environment of solid teamwork and professionalism to ensure that our employees engage in both personal and professional development. ENVIRONMENT CONSCIOUSNESS We believe that it is our responsibility to safeguard our natural resources for future generations and actively engage in environment friendly practices, policies and management techniques. 4 ANNUAL REPORT 2020 CODE OF CONDUCT Attock Petroleum Limited has committed itself diligence in the performance of their duties to conduct its business in an honest, ethical and and responsibilities. They are also directed to legal manner. The Company wants to be seen perform their work with due professionalism. as a role model in the community by its conduct Compliance with Laws, Rules and and business practices. All this depends on the Regulations Company’s personnel, as they are the ones who are at the forefront of Company’s affairs with the The Company is committed to comply and outside world. Every member of the Company take all reasonable actions for compliance has to be familiar with his/her obligations in this with all applicable laws, rules and regulations regard and has to conduct him/her accordingly. of state or local jurisdiction in which the Company conducts business. Every director and This statement in general is in accordance with employee, no matter what position he or she Company goals and principles that must be holds, is responsible for ensuring compliance interpreted and applied within the framework with applicable laws. of laws and customs in which the Company operates. This code will be obligatory for each Full and Fair Disclosure director and employee to adhere to. Directors and employees are expected to help Respect, Honesty and Integrity the Company in making full, fair, accurate, timely and understandable disclosure, in Directors and employees are expected compliance with all applicable laws and to exercise honesty, objectivity and due ATTOCK PETROLEUM LIMITED 5 regulations, in all reports and documents that case. In case of directors, such ruling can only be the Company files with, furnishes to or otherwise given by the Board and will be disclosed to the submits to, any governmental authorities in shareholders. the applicable jurisdiction and in all other Trading in Company Shares public communications made by the Company. Employees or directors who have complaints Trading by directors and employees in the or concerns regarding accounting, financial Company shares is possible only in accordance reporting, internal accounting control or auditing with the more detailed guidelines issued from matters are expected to report such complaints time to time by corporate management in or concerns in accordance with the procedures accordance with applicable laws. established by the Company’s Board of Directors. Inside Information Prevent Conflict of Interest Directors and employees may become aware of Directors and employees, irrespective of their information about Company that has not been function, grade or standing, must avoid conflict of made public. The use of such non-public or interest situations between their direct or indirect “inside” information about the Company other (including members of immediate family) personal than in the normal performance of one’s work, interests and the interest of the Company. profession or position is unethical and may also be a violation of law. Employees must notify their direct supervisor of any actual or potential conflict of interest situation and obtain a written ruling as to their individual 6 ANNUAL REPORT 2020 Directors and employees becoming aware of other companies is prohibited. Each director information which might be price sensitive with and employee is expected to deal fairly with respect to the Company’s shares have to make Company’s customers, suppliers, competitors sure that such information is treated strictly and other employees. No one is to take unfair confidential and not disclosed to any colleagues advantage of anyone through manipulation, or to third parties other than on a strict need-to- abuse of privileged information or any other
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