 We have to start today the annual report. Learning outcome, after going through annual report of a listed company, remember listed company, students will be able to understand different contents of it. Besides financial statements, lot of other information for these stakeholders is available. So here you will see it's not only those four statements, but a lot of material attached to it you will learn. The organization chart will enable them to know the directors and the key members of the team. The people involved at the top level, there is an organization chart available. Notes to the accounts will help you to details of accounting policy adopted by the company. Number of accounting policies company use to follow. So in notes to the accounts you will get all those details of policies. Sometimes 20 pages of it. The annual report objective of entities is mandatory. The annual report is basically a mandatory thing. I mean, every company must produce at the end of the year the annual report. Previously they were preparing the what you call half yearly reports, interim reports, but this is mandatory that you have to, there is no choice about it, to publish at the end of the financial year. The shareholders want to meet the members board of directors in the annual general meeting because this report is discussed, is reviewed in the annual general meeting going from all other sites where it comes to the annual general meeting. And there the shareholders will see this report, learn this report about it that and then they want to see what the directors, chairman, other shareholders feel about the company while going through the reports because it is required that this report is sent to every member of the company, every shareholders. So it is expected from them that they should come prepared and if they have some objection somewhere any question to ask they can ask in this in the annual general meeting. The stakeholders is customers, suppliers, bankers, regulators, other decision makers like financial position and performance of the entity. Whosoever want to deal with the company, this report will be enough to take a decision. So all these stakeholders are watching what you are producing at the end of the year, the whole year performance, your assets, liabilities, everything is there. Essential of an annual report, the four financial statements that is the income statement and the statement of financial position, cash flow statement, change in equity statements, these are four major statements. Then attached to it, the notes to the accounts, a lot of schedules, etc. Pattern of shareholding, that is also very important thing that you got number of shareholders to the patron. How many institutional shareholders you have, how many the proprietors, the directors, shareholders, individuals are very few. Let me tell you individually, hardly 10 to 20 percent. The remaining 80 percent either is institutional investors or the directors themselves. Then there is a chairman message, a chairman report that is also very, very interesting thing because every shareholder want to see what our chairman is looking into. Because they want to listen from the chairman, how he feel about the company, what is his opinion about the company, the report we are reading. So that is also very important. Then the director's report, that is also there. And then 5 to 10 years financials. Consolidate, simple form, 5 to 10 years, your accounts, they also present in this report. There is only one page, but in this column in reform, here 1, 2, 3, like this 5 to 10 years reports are shown in the accounts. Key factors, that is key ratios, key numbers come in it. That is why it is known that what is the progression of the company. Its graph is going up or down. Then future objective statement. This is also what you want to do in the coming days. Basically the chairman has to tell this in his note that where we want to see the company in the coming days. Environmental statement. You are not polluting the work for the environment. Sustainability statement and value-added statement, employment statement, foreign consistent, these are various statements. And they are important, let me tell you. For example, this value-added statement in Pakistan, I started in 1990. That first time I produced this statement in the final account. So people appreciated it. And now many companies in Pakistan also, they are producing this statement. So the statement, I will go through this statement later. So then foreign currency statement means if you are dealing in foreign currency in the sense that you are importing, exporting. So you have to produce a statement. How much foreign exchange you earned, how much foreign exchange you spent. So similarly employment statement, what you are doing for the employees, that is very, very essential nowadays. Then the stakeholder rely on external audit reports. There is internal audit as well. But mainly people want to see an independent auditor who coming outside the company and what he reports about these accounts. And they have an impression that the audit reports everything and they make decision accordingly. Because audit reports in the sense that it gives a true and fair view. Meaning that there is nothing hidden in this. The real thing is shown in this. So that is the important thing. Now financial statements, whatever these four statements are, in which financial position is also there, statement of other companies and cash flow statement notes. These are all comparative points. That is, you have to show both last year and this year. So that you immediately know that you are going through the last year. Whether it is your progression or not. Profit is increasing, sales are increasing or not. So you have to give a comparative. In other reports, as I just said, value to statement, chairman, message director, I will discuss them a little bit. Financial is of five years audit report for the members. Compliance with code of corporate governor. Directors have to give this report that we have complied with the rules of corporate governor. And we have to tell them point wise. There are about two and a half pages in which there are 10, 20, 25, 25 points. We will tell about every point that we have done this, this, this, this. Then something will be written in it. Then pattern of share holdings, category of the shareholders, as I said earlier. In this we have total number of shares and in that how many percent are of directors, how many percent of institutions, how many percent of bankers, how many bankers, how many insurance companies and then how many individuals. This has to be shown as well. In this we give one more thing in the report, capacity. What was the capacity of your company? How many tons were to be made or how many, let's say, if you want to make something, then they have to give the capacity. They call it installed capacity. How much production could this plant give you? And how much did you achieve? This has to be told as well. What was the capacity of the plant and how much did you achieve? If you have achieved less, then you will have to tell the reason as well. In this whole report you will be available and I will show you the report. Thank you very much.