Page 46 - InterloopAnnualReport2021

HEALTH, SAFETY & ENVIRONMENT

Your company is continuously investing substantial 2020 & November 05, 2020 approved the scheme of
resources to improve working conditions and maintaining arrangement for amalgamation of ILA, a wholly owned
subsidiary of ILP, with and into ILP with effect from January
the highest standards of health, safety and environment
31, 2021. ILA is amalgamated with and into ILP with the
(HSE) to ensure well-being of the people who work with us,
approval of the Securities and Exchange Commission
as well as of the communities where we operate. of Pakistan. The entire issued, subscribed and paid-up
capital of ILA, comprising of 104,500,000 ordinary shares
CORPORATE SOCIAL RESPONSIBILITY of Rs. 10 each stands cancelled without any payment or
other consideration with effect from January 31, 2021.
During the current financial year, Interloop’s CSR vision has
been aimed at protecting our environment, operating in a
socially responsible manner, developing the communities PRINCIPAL RISKS AND UNCERTAINTIES
in which we operate, maintaining standards of excellence Risks & Opportunities are discussed in detail on page no.60
in our work and advocating healthy lifestyles, acting with of the Annual Report..
integrity and adhering to the highest ethical standards,
promoting diversity in our work force and partnering with BUSINESS CHALLENGES AND FUTURE
diverse suppliers and ensuring a safe, healthy workplace. OUTLOOK
The detailed analysis on CSR activities is presented in the
Interloop Limited has outlined its Vision 2025 which reads
Annual and Sustainability Reports of the company.
as “TO BECOME A FULL FAMILY CLOTHING PARTNER
OF CHOICE” with the Targeted Revenue of USD 700M with
EVENTS AFTER THE STATEMENT OF
total planned investment of USD 302.27M. The company
FINANCIAL POSITION DATE
needs to achieve certain goals and may have to face some
i. Dividend challenges to reach the targets set for 2025 which include:

The Board of Directors in its meeting held on • Significant Size in the World Market
September 15, 2021 has proposed final cash • End to End Services
dividend for the year ended June 30, 2021 @ Rs.1 • Engaged Employees
per share, for approval of the members in the • Serving the Community
Annual General Meeting.
The company is planning to expand its operations to
ii. Bonus Shares
achieve the set targets by addition of Hosiery Plant and
The Board of Directors in its meeting held on Denim Fabric Mill. Further planning to increase the capacity
September 15, 2021 has proposed the issue of of manufacturing in all segments focusing from infant to
bonus shares in the proportion of 3% i.e., 3 bonus adult customer.
shares for every 100 shares held, for the year ended
June 30, 2021, for approval of the members in the Interloop Limited has elevated its commitment to the
Annual General Meeting. environment by joining the Fashion Industry’s Charter for
Climate Action to drive net-zero GHG emissions by 2050.
MATERIAL CHANGES DURING THE We will work towards a target of 25% GHG emission
CURRENT YEAR reductions by FY2026. We are also functioning on reducing
water consumption by 25%, diverting 100% of our waste
The company had the following material events during the
from landfills and ensuring Zero Discharge of Hazardous
FY 2020-21;
Chemicals.
i. Amalgamation of Wholly owned Subsidiary -
Although the challenges are huge but we are committed
IL Apparel (Private) Limited (ILA)
to perform in the best possible manner and add value
During the year, the Board of Directors of Interloop
to our stakeholders by meeting the long-term goals of
Limited (ILP) and IL Apparel (Private) Limited (ILA)
the company. For improving quality of our products and
in their respective meetings held on October 28,

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