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Mirza Javaid Iqbal

Chairman - Mughal Steels

Chairman Message

The journey of Mughal Steel is a testament to over five decades of resilience, innovation, and an unwavering commitment to excellence. From modest beginnings, we have risen to become a cornerstone of Pakistan’s steel industry, playing a pivotal role in shaping the nation’s economic progress and industrial development.

As a leader in the steel sector, Mughal Steel has redefined industry standards by introducing cutting-edge technologies, fostering operational excellence, and delivering high-quality steel solutions that power Pakistan’s most vital infrastructure. Our products have been integral to the construction of houses, bridges, dams, and industrial facilities, directly contributing to the nation’s growth and development. By ensuring reliability and durability, we have earned the trust of builders, engineers, and industries across Pakistan.

Our contributions extend beyond business success. As a socially responsible organization, we actively support environmental sustainability by adopting eco-friendly practices and championing resource efficiency. Our commitment to green initiatives underscores our role as stewards of a sustainable future.

Philanthropy is at the heart of our corporate values. Through initiatives like the Mughal Eye Hospital, we strive to give back to society by offering accessible and quality healthcare to underprivileged communities. This reflects our dedication to creating meaningful, long-term social impact.

At Mughal Steel, our mission transcends the bottom line. We are deeply committed to shaping a better future for Pakistan through innovation, safety, and continuous improvement. Our values of transparency, customer-centricity, and performance culture drive us to remain a trusted partner in building a stronger nation.

Together, we aim to achieve new milestones and set benchmarks that elevate Pakistan’s industrial and economic landscape while empowering communities and enriching lives.

Our History

Rooted in Legacy, Driven by Progress.
1

1950

Humble beginning as Mughal Traders
2

1984

Commenced re-rolling operations by commissioning Mini Section Mills
3

1998

- Establishment of Mughal Steel (AoP)
- Establishment of Mughal Trust
4

1999

- Commenced melting operations by commissioning of Induction Furnaces
- Commenced stainless steel operations by commissioning of Argon Oxygen Decarbonizer
5

2003

- Commenced stainless steel sheet rolling operations by commissioning of Stainless Steel Sheet Rolling Mill
- Establishment of Quality Laboratory equipped with Optical Emission Spectrometer of the M8 Series
6

2006

Installation of 9.3 MW gas fired captive power plant in collaboration with GE Jenbacher- Establishment of Quality Laboratory equipped with Optical Emission Spectrometer of the M8 Series
7

2007

Commenced manufacturing of Ferro Manganese and Ferro Chrome by installation of first ever Ferro Plant in Pakistan
8

2008

Capacity enhancement by addition of further Mini Section Mills
9

2010

- Installation of Bar Re-Rolling Mill
- Incorporation of Mughal Iron & Steel Industries Limited
10

2011

- Mughal Iron & Steel Industries Limited took over the net assets of Mughal Steel (AoP)
- Coal gasification introduced
11

2013

Installation of Girder Mill with capacity of MT 200,000
12

2015

Mughal Iron & Steel Industries obtained Listing on Stock Exchange
13

2017

Enhancement of 9.3 MW gas fired captive power plant capacity to 25 MW
14

2020

Ventured into Non-Ferrous segment
15

2021

Installed European origin Bar Re-Rolling Mill with capacity of 430,000 MT
16

2023

- Acquisition of Mughal Energy Limited and obtained Group Registration
- Commencement of installation of 36.50 MW hybrid power plant by Mughal Energy Limited
- Installed recycling plant for Non-Ferrous segment

186

Production Capacity

250

Industries Served

98%

Sustainability Efforts

Overall Corporate Strategy

Forging Success, Shaping the Future.

Vision Statement

To be a leading corporate entity in the steel sector which is recognized both at the industry level and national level, endeavoring to achieve excellence in core business while striving to explore multiple growth opportunities, remaining ethically and socially responsible and strengthening the growing base of satisfied customers by providing quality and durable steel products.

Mission Statement

To meet the expectations of our customers in providing them with high quality, reliable and durable steel products, through product research, business process and information system improvement and up-gradation of technology. To meet the expectations of our employees by providing opportunities for professional growth and personal welfare. To meet the expectations of our shareholders by enhancing profitability and maximizing returns through achieving excellence in core business and exploring growth opportunities through diversification.

Overall Corporate Strategy

Maintaining our competitive position in the core business by employing professional and technical excellence, exploring new growth opportunities through diversification and creating value for our stakeholders.

Code of Conduct Values, and Ethical Principles

The basic principles of our code of conduct and ethics

Compliance with Laws, Rules and Regulations

Every Director and employee must comply with all applicable laws, rules and regulations, including those related to insider trading, financial reporting, money laundering, fraud, bribery and corruption.

Personal Conflicts of Interest

Every Director and employee is prohibited from indulging in actions or relationships that create personal conflicts of interest unless approved by the Company. It is important that every Director and employee carefully considers whether any of their activities or relationships, including business or volunteer positions outside the Company, could cause a conflict or the appearance of a conflict with the interests of the Company. Additionally, personal gain or advantage must never take precedence over one’s obligations to the Company. No Director or employee must ever use or attempt to use their position at the Company to obtain any improper personal benefit for themselves, their family member(s), or any other individual or group.

Fair and Ethical Competition

Every Director and employee must deal fairly with customers, suppliers, competitors and each other. No one at the Company may seek competitive advantage through illegal or unethical business practices. Taking unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any unfair dealing practice is a violation of this Code.

Protecting Confidential Information

Every Director and employee must maintain the confidentiality of the information with which they are entrusted, including complying with information barrier procedures applicable to our business. The only exception is when disclosure is authorized or legally mandated.

Equal Employment Opportunities and Commitment to Diversity

We do not tolerate any type of discrimination prohibited by law, including harassment. We value diversity as an important asset that enhances our culture, helps us satisfy customers well and maximizes return for shareholders. For us to excel, we must create for our people an inclusive environment that welcomes and supports differences and encourages input from all perspectives.

Political Contributions and Activities

Directors and employees are prohibited from making or soliciting political contributions or engaging in political activities.

Integrity at Every Level

We believe the best way to build and maintain trust is to conduct every element of our business according to the highest standards of integrity. Our ability to do so rests on the behavior of everyone who works here, from employees to our Chief Executive Officer to our Directors. To that end, we select our people based not just on their skills, accomplishments, and potential, but also on their principles and values.

Excellence in Every Action

Our Code of Conduct consists of the following principles which all Directors and employees are required to apply in their daily work and observe in the conduct of Company’s business.

Corporate Values

Guided by Integrity, Built on Excellence.
Integrity

We are dedicated to maintaining the highest ethical standards and ensuring openness and honesty in all our dealings by maintaining utmost integrity at all times.

Trust

We trust, respect and support each other, and we strive to earn the trust of our customers and shareholders.

Diversity

We provide equal opportunities to all our employees without any bias against gender, race, ethnicity and religion.

Teamwork

We are committed to fostering a culture where employees work as a team, listen to and respect each other, provide support to one another, work co operatively and highly regard one another’s views.

Excellence

We make sure that we always do what we say we will and strive for excellence and quality in everything that we do.

Customer Satisfaction

Our experience shows that if we satisfy our customers well, our own success will follow.

Ingenuity

We seek new opportunities and out-of-the-ordinary solutions. We use our creativity to find unexpected and practical ways to solve problems.

Laws & Regulations

We are committed to fostering a culture where employees work as a team, listen to and respect each other, provide support to one another, work co operatively and highly regard one another’s views.

Fairness

We are devoted to implement such policies and procedures, which translate into fair and equitable treatment of all stakeholders, including selection, hiring, rewarding and compensating all employees.

Innovation

While recognizing that the old way may still be the best way, we constantly strive to find a better way of doing things. We pride ourselves on having pioneered many of the practices and techniques.

Board of  Directors

Guiding Vision, Driving Success.

Mirza Javaid Iqbal

Non – Executive Director - Chairman of the Board

Having joined his family business in 1976, Mr. Javaid Iqbal rose to become a pioneer of the steel industry of Pakistan. During his exemplary career, Mr. Iqbal challenged and changed the personal and industry mindset, both within and beyond the business framework. He has not only developed new pathways to achieve energy efficiency and economies of scale, but has made remarkable contributions towards the technological advancement and effective documentation of the national steel industry. With his visionary leadership and unparalleled expertise, Mr. Iqbal has been the driving force behind the company’s success – making the Company reach new heights of growth and expansion.

Abdul Rehman Qureshi

Non- Executive Director - Independent

Mr. Qureshi is a law graduate from the Punjab University, Lahore. He is a veteran in the field of corporate law and related matters. He has over the years, served in various capacities erstwhile in Corporate Law Authority (CLA) and the Securities and Exchange Commission of Pakistan (SECP). He has been member of various committees and commissions constituted to review and revamp company law, securities law, insurance law and banking laws. He has attended several international courses, seminars, training programs and workshops on various subjects related to corporate laws and corporate governance particularly in countries like Australia, Japan, lndia, USA and U.K. Currently, he is also serving on the Board of Mahmood Textile Mills Limited and Kohat Textile Mills Limited.

Shoaib Ahmed Khan

Non- Executive Director - Independent

Mr. Shoaib Ahmad Khan holds MSc (DSS) degree from National Defense University, Islamabad and MBA degree from IBA, University of the Punjab, Lahore. He has 35 year experience in Financial Management, Banking, Accounting & Auditing, Administrative & Regulatory aspects. In addition to above, he has vast experience in project appraisal, monitoring & restructuring and development of strategies. During his career, he remained Director and member finance of National Highway Authority (NHA), Islamabad. Currently, he is also handling the matters relating to Dispute resolution.

Miss Mariam Khawar

Non – Executive Director - Chairman of the Board

Jamshed Iqbal

Executive Director

Mr. Jamshed Iqbal has over the years played a pivotal role in developing the company’s distributional network across Pakistan to ensure that all kinds of geographical requirements are met by the Company’s distributional network, a feat that has resulted in expanded growth of the company. Today his vast experience and in-depth knowledge of the steel sector is highly beneficial at the Board Level.

Khurrum Javaid

Executive Director - Chief Executive Officer

Mr. Khurram Javaid holds an MBA from the Coventry University, UK and a BSc. from the Lahore School of Economics in Pakistan. He has made substantial contributions to the Company’s production capabilities and sales network within the country, ensuring that each is at par with the international standards of the steel industry. He has extensive experience with highly engineered systems, which require deep understanding of critical business drivers in multiple markets and industries; highly successful in building relationships with upper-level decision makers, seizing control of critical problem areas, and delivering on customer commitments. Also, since Mr. Javaid is a strong advocate of human resource development, he is the man behind incorporating effective HR planning, policymaking and training which is the corner stone behind the company’s success today.

M. Mubeen Tariq Mughal

Executive Director

• Mr. Muhammad Mubeen Tariq Mughal has been associated with the Company for over seven years and has vast experience in the field of ERP, Human Resource, Audit, Accountancy & Finance. He has been responsible for developing and leading financial strategies to facilitate the company’s ambitious growth plans. He has played pivotal role in designing and development of system of internal controls and implementation of ERP within the organization.

Fazeel Bin Tariq

Non - Executive Director

Mr. Fazeel Bin Tariq holds a Bachelor’s Degree in Business Administration from the Lahore School of Economics, Pakistan and a Postgraduate degree in Professional Accounting from the Swinburne University of Technology, Australia. He has also done Masters in Leadership from Northeastern University, Boston, USA. He joined the Company in 2011 and since then worked in various roles, obtaining extensive knowledge and experience of production processes before being inducted as a member of the board of directors.

M. Mateen Javaid

Non - Executive Director

Mr. Mateen Jamshed holds a Bachelor’s Degree in Business Administration from the Lahore School of Economics, Pakistan.

Group of  Companies

United Vision, Diverse Strengths
Going Alternate

Lit your life with our energy solutions

Mughal Energy Limited (“the company”) was incorporated as public limited company (unquoted) in Pakistan on August 19, 2012 under Companies Ordinance, 1984 (now Companies Act, 2017).

Awards &  Certificates

Celebrating Excellence, Recognizing Achievement

Company Memberships

“Exclusive Access, Unmatched Opportunities”

Company  Information

Discover Who We Are and What Drives Us.

Geographical Presence

31 A, Shadman 1, Lahore.
+92-42-35960841-3
info@mughalsteel.com.pk

Sale Center & Warehouse

Badami Bagh, Lahore – Pakistan.

Factory & Warehouses

17 KM, Sheikhupura Road, Lahore – Pakistan.

Status of Company

Public Interest Company

Company Registration Number

0071627

NTN Number

3533975-6

Sales Tax Number

03-06-7326-012-82

Company’s Bankers

MCB Bank Limited
Bank Alfalah Limited
Soneri Bank Limited
Bank Islami Pakistan Limited
Summit Bank Limited
JS Bank Limited
Meezan Bank Limited
Dubai Islamic Bank Limited
Askari bank Limited
Samba Bank Limited

Share Registrar & Transfer Agent

THK Associates (Private) Limited
Plot No. 32-C, Jami Commercial Street 2,
D.H.A, Phase-VII, Karachi, Pakistan
Tel: +92-21-111-000-322
Fax: +92-21-34168271
Email: sfc@thk.com.pk

Shariah Advisor

Mufti Imran Khan

List of Associated Companies

Mughal Steel Metallurgies Corporation Limited
Kalabagh Steel Mills Corporation Limited Mughal Energy Limited
Mughal Steel Re-Rolling Industries Limited
Indus Steel Mills Corporation (Private) Limited
Al-Bashir Steel Industries (Private) Limited
Indus Engineering (Private) Limited
Mughal International IMPEX Limited

Legal Advisor

Mr. Muhammad Atif Butt

Tax Advisors

Akhtar Ali Associates
Juris Counsel
Farooq Khan Law Associates
Butt & Company
Punjab Law Associates

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