In Appliances division, Company has achieved a milestone by having a strategic relationship with LG
Electronics. LG is one the three largest global players in the business of domestic appliances with an annual
turnover of over US $ 50 billion. Relationship with them, in the first stage, is to represent LG for sale and
marketing of Air conditioners, Refrigerators, Microwave ovens, Washing machines and Vacuum Cleaners
in the country. In the second stage which has also commenced, a technical collaboration is taking place
whereby our manufacturing facilities are being made fit for producing LG brand products to be sold locally
as well as worldwide. This relationship is expected to grow and widen very fast, InshaAllah.
Our current year’s targets of Appliances division business are being achieved despite political & economic
instability during the period under review. All these conditions, political as well as macroeconomic
indicators are reflecting a healthy trend and we are hoping appliances business, after achieving our last
quarter’s targets, will show a robust growth in the coming year.
Our capabilities in Power division are taking a quantum leap with the construction of state of the art,
international standard manufacturing facility for exportable transformers which is expected to commission
in July this year. Export of transformers to Saudi Arabia and a few European markets has already started
and we are hoping that this will gain momentum in the coming year. Development of 40 MVa/132 KV
Power Transformer and digital meters of single and three phase types with advanced features like “time of
the day” etc. are expected to significantly contribute to the growth of this business. With a stable political
scenario in the country, we hope to see demand picking up for our power division products as
Government’s commitment towards elimination of power shortage coupled with system improvement plans
would result in increased ordering for this division of our Company.
Our annual results, despite challenging conditions during the year are expected to reflect a healthy growth
in all directions. For the next year’s business a number of positive factors are expected to result in
substantial growth of Company’s profitability. These include lowering financial costs, stable exchange
rates and declining prices of all our raw materials in the international markets.