Reliance Weaving Mills Chairman's Message

It gives me immense pleasure to welcome you all on behalf of the Board of Directors at
28th Annual General Meeting of your Company and to present annual review of the Company's Audited Financial Statements along with Auditors Report thereon for the financial year ended June 30, 2018.

For the year under review, your Company recorded a net profit of Rs. 310 Million as compared to Rs. 101 Million last year & depicting EPS of Rs. 10.08 as against Rs. 3.29 in the previous financial year.

The Board is confident that the Company will overcome the economic & other challenges and will deliver sustainable results better than the last year.

Pursuant to Section 159 of Companies Act 2017, the Election of Directors were held on
March 31, 2018 in which seven directors were elected un-opposed. The Board of Directors comprises of two Executives, three Non-Executive and two Independent Directors pursuant to CCG-2017.

During the year, Board Committees namely Audit, HR & Remuneration, and Risk Management continued to work efficiently under their respective Terms of Reference (TOR) to the satisfaction of Board of Directors. Board carries out a review of its effectiveness & performance each year on self-assessment basis. The Board has developed a Questionnaire in conformally with CCG-2017, circulated to each director to evaluate the performance based on factors such as Board Composition, Leadership, Effectiveness of the Board, and Strategy.

The Evaluation provides the board with an opportunity to review the balance skills, experience and diversity & perspectives.

On behalf of the Board, I would like to acknowledge the contribution made by fellow Directors and would like to thank our shareholders, business associates, government authorities and regulators for their continuous support and guidance to the Company. I look forward to welcoming as many as possible of shareholders at the forthcoming Annual General Meeting of the Company schedule to be held on October 29, 2018.

Mr. Fawad Ahmed Mukhtar
Chairman
Reliance Weaving Mills Limited

Page Last Updated: Friday, February 01, 2019