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Annual Report 2010

VISION STATEMENT
To be recognized internationally and locally as dynamic, quality conscious and ever progressive Textile Product manufacturer in the Textile Industry of Pakistan

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Mahmood Textile Mills Ltd.

MISSION
Mahmood Group is committed to: Be ethical in its practices. Excel through continuous improvement by adopting most modernized technology in production. Operate through professional Team work. Retain our position as leading and innovative in the Textile Industry. Achieve Excellence in the quality of our product. Be a part of country's economic development and social Prosperity.

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Annual Report 2010

CONTENTS
Company Information Notice of Meeting Directors' Report Key Operating/Financial Highlights Statement of Compliance of Corporate Governance Auditors' Review Report on Statement of Compliance of Corporate Governance Auditors' Report Balance Sheet Profit & Loss Account Cash Flow Statement Statement of Changes in Equity Notes to the Accounts Pattern of Share Holding Form of Proxy 04 05 11 17 18 20 21 22 23 24 25 26 61 63

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Mahmood Textile Mills Ltd.

COMPANY INFORMATION
Board of Directors:
Khawaja Muhammad Masood Khawaja Muhammad Iqbal Khawaja Muhammad Ilyas Khawaja Muhammad Younus Jalal-ud-Din Roomi Mrs. Mehr Fatima Muhammad Muzafar Iqbal Chairman Chief Executive Officer Director Director Director Director Director

Bankers
MCB Bank Ltd. United Bank Limited Habib Bank Limited Allied Bank Limited Bank Al-Habib Limited Meezan Bank Ltd.

Mills
Mahmoodabad, Multan Road, Muzaffargarh. Masoodabad, D.G. Khan Road, Muzaffargarh.

Chief Financial Officer
Muhammad Amin Pal F.C.A.

Company Secretary
Ghulam Mohayuddin

Registered Office
Mehr Manzil, Lohari Gate, Multan. Tel.: 061-111-181-181 Fax: 061-4511262 E-mail: info@mahmoodgroup.com

Auditors
Hameed Chaudhri & Co Chartered Accountants H M House, 7-Bank Square, Lahore.

Share Registrar
Hameed Majeed Associates (Pvt.) Ltd. H M House, 7-Bank Square, Lahore.

Audit Committee
Khawaja Muhammad Ilyas Khawaja Muhammad Younus Muhammad Muzafar Iqbal Chairman Member Member

www.mahmoodgroup.com

Stock Exchange Listing
The Mahmood Textile Mills Limited is a listed Company and its shares are traded on Karachi Stock Exchanges in Pakistan.

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Annual Report 2010

NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that 40 Annual General Meeting of the Company will be held on Saturday, 30 October, 2010,at 11.00 A.M., at its Registered Office, Mehr Manzil, O/s Lohari Gate, Multan to transact the following business: ORDINARY BUSINESS 1. 2. 3. 4. To confirm the Minutes of Annual General Meeting held on 31 October, 2009. To receive consider and adopt the Audited Accounts for the year ended 30 June, 2010 together with Director's and Auditor's Reports thereon. To approve payment of Cash Dividend @ 60% (Rs.6.00 per ordinary Share of Rs. 10/- each) for the year ended 30 June, 2010 as recommended by the Board of Directors. To appoint Auditors for the year 2010-2011 and to fix their remuneration. The present Auditors M/s. Hameed Chaudhri & Company, Chartered Accountants, Lahore being eligible have offered themselves for re-appointment. To transact any other business with the permission of the Chair. IJ JD # JD IJ

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SPECIAL BUSINESS 6. To consider and if thought fit to pass with or without modifications the following resolution:

"Resolved that consent and approval of the Company be and is hereby accorded under Section 208 of the Companies Ordinance, 1984 for provision of short term loan/advances aggregated amount of Rs. 100.000(M) each to Associated Companies @ one month KIBOR Plus 1.5 % markup. It is further resolved that the Chief Executive of the Company be and is hereby authorized to negotiate and take any action on behalf of the Company as may be deemed necessary In this regard". by order of the board of directors Sd/Ghulam Mohayuddin Company Secretary Multan. Date: 06 October, 2010. JD...
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