Page 67 - InterloopAnnualReport2020

Corporate Social Responsibility Business Challenges and
Future Outlook
The Company considers social, environmental and ethical
matters in the context of the overall business environment. The Company had planned aggressively for FY20 and had
We will like to take this opportunity to reiterate that your set targets based on FY19 performance. However, the
Company stands united with the nation during this global conditions and dynamics have changed significantly
challenging phase of COVID-19. Since the outbreak, in since Mar 2020 which impacted our growth during FY20.
partnership with the Government, civic bodies, corporate However, the demand in our operating segments has
entities, social organizations and hospitals, we have increased substantially. If the conditions continue showing
undertaken several initiatives such as donating personal improvement, we are expecting very encouraging growth in
protective products (PPEs) to medical institutions and our Sales, Gross Profit and Net Profit numbers. At present,
underserved sections of the society, upgrading health care our all operating segments are functioning at almost 100%
facilities in Government hospitals by providing equipment, capacity except Denim which is showing gradual recovery
providing food rations and milk to families in need and and we hope that it will start running at full capacity during
creating awareness campaigns. The Company is committed Oct 2020. However, uncertainty regarding the possible
to work in the best interest of all the stakeholders, in second wave of the Coronavirus and pace of revival in
particular the community in which we operate.
external demand for Pakistani products is a key risk. The
easing of lockdown in the North American and European
Material Changes/Subsequent countries; the top export destinations for Pakistani textile
Events goods will help revive and increase the exports.

There have been no material changes since Jun 30, 2020, Consolidated Financial
to date of the report and the Company has not entered into Statement
any commitment during this period, which would have an
adverse impact on the financial position of the Company.
Consolidated financial statements for the period ended
Jun 30, 2020 of the Company and its subsidiary IL Apparel
Principal Risks and (Private) Limited are annexed.
Uncertainties
Acknowledgment
Risks & Opportunities are discussed in details on pages 46
to 49 of this Report. The Board takes this opportunity to thank the Company’s
and its valued customers, bankers and other stakeholders
for their corporation and support. The Board also recognizes
the contribution made by a very dedicated team who served
the Company with enthusiasm, and hopes that the same
spirit of devotion shall remain intact in the future as well.

On behalf of the Board

Navid Fazil Jahan Zeb Khan Banth
Chief Executive Officer / Director Director

Faisalabad
September 16, 2020

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