about the cover
The year 2016 saw a strategic alliance between Engro
Foods Limited and Royal FrieslandCampina. With these
perfect ingredients of intemational expertise and local
know-how, this winning combination promises to cook up a
storm in the food industry of Pakistan. Armed with our
passion to prosper and our hunger to conquer the market,
we hope to delve into yet untapped arenas and create
products yet to be tasted by our 12 million consumers. A
flawless recipe for growth, evolution and success. With
these appetizing goals for the coming year, we ended this
year with a continued and consistent effort to add value to
our shareholders’ plate and contributed to the nation’s food
industry in a wholesome manner.about Royal FrieslandCampina
With roots stretching as far back as 1871, Royal FrieslandCampina has a rich storied history, With
1 billion Euros in revenues it is one of the largest dairy companies in the world, FrieslandCampina is
basod in the Netherlands and has offices in 38 countries and employs 22,000 people. The Company's
produets find their way to more than 100 countries and most wonderfully the people it serves, also own
it~ around 19,000 farmers spread across the Netherlands, Germany and Belgium,
Indeed this unique fact of being owned by a cooperative of farmers colors the vision of the Company to
a great extent. Its purpose statement “nourishing by nature” means that FrieslandCampina is
committed to better nutrition for the world's consumers; so as the population of the world crosses 9.7
Billion by 2050 FriestandCampina will be there helping feed the world with affordable and nutrtious
products. The Company also believes in a good living for its farmers so they can maximize their
incomes by being a part of the dairy ecosystem continue and growing in a sustainable manner now and
for generations to come.
During its more than hundred and forty years of history, FrieslandCampina has built strong market and
brand positions based on recognizable brands and a relentless commitment to quality and the
Company will endeavor to continue this tradition in Pakistan
The greatest journeys are made together with others. As Engro Foods with FriestandCampina, aided by
the Government of Pakistan and millions of Pakistani farmers embarks on this journey, the Company is
thanklul to al its stakeholders, With a growing market, a clear strategy, a professional passionate
workforce and products that resonate with its customers, the Company is optimistic for 2017 to fulfllits
mission of ‘nourishing by nature’*.
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contents
Company Information Our Brands
Company Information Our Brands
Notice of the meeting Marketing Communication
Core Values
Our Overview Financial Statements
Our Portfolio
Fi ial
Our Footprint in Pakistan inancials
Annexure
Corporate Governance
Directors’ Profiles
Board of Directors
Directors’ Report
Directors’ Report
Financial Review
Financial Summary
Financial Performance Indicators 2011-2016
Key Shareholding and Shares Traded
Pattem of Shareholding
Category of Shareholding
Shareholder Informationcompany information
Board of Directors
‘Aadul Samad Dawood (Chairman)
Hans Laarakker (CEQ/Direotory"
Babur Sultan (CEO)*
Heil van der Kool
Hoin Schumachor
Jaska de Bakker
Piet Hilarces
Sabrina Dawood
Ghias Khan
Wim Torts
‘Company Secretary
Faiz Chanra
Bankers
Conventional
Alicd Bank Limited
‘Askari Bank Limited
Bank AFalah Limited
Bank AHHabib Limited
Citibank NA,
Deutchss Bank AG
Faysal Bank Limited
Habib Bank Limited
Habio Metropolitan Bank Limited
Industral and Commercial Bank of China Limited
MOB Bank Limited
National Bank of Pakistan
NIB Bank Linvted
‘Sama Bark Limited
‘Soneri Bank Limited
‘Standard Chartered Bank Pakistan Limited
‘Summit Bank Limted
“Tameer Moro Finance Bank Limited
The Bank of Punjat
United Bank Limted
Shariah Compliant
‘AlBaraka Bank Pakistan Limsted
Bank AHHabib Limited - lamic Banking
Moazan Bank Limited
‘Stardlarc Chartered Bank Pakistan Limited-Saadiq
Auditors:
‘AF. Ferguson & Company
‘Chartered Accountants.
Slate Life Building No. 1-0
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Karachi-74000, Pakistan
Tol +92(21) 2426082-6 /92426711-5
Fax +92(21)32416007 / 92427998
Registered Office
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Karachi-75600, Pakistan
Tak: +92{21) 85296000 (10 Ines}
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