Incorporated in 1988, Gadoon Textile Mills Limited (GTML) is sponsored by Yunus Brothers Group, a pre-eminent business house of Pakistan with ownership interests in diverse industries including textiles and cement. The company is listed on Karachi and Islamabad Stock Exchanges.
GTML is engaged in the production of 100% cotton combed and carded and all types of blended yarns. It produces various blends of high quality polyester, viscose, acrylic, lycra, triloble, milange and cotton yarns.
The Company's 100% cotton yarns as well as blended yarns enjoy very high reputation in the market.
BUSINESS ETHICS: The ethics of the founding Chairman of the YB Group, Abdul Aziz Tabba emphasising hard work, reliability, quality and unmatched customer service provides impetus for the rapid growth of the group companies.
LOCATION: This giant industrial complex is located at Gadoon Amazai, the industrial estate in the North West Frontier Province of Pakistan.
The huge complex, seen in the background of mountains, presents a panoramic view.
DEVELOPMENT OF PRODUCTION FACILITIES AND BUSINESS: Over the years, the sponsors have demonstrated strong commitment to the textile business and have made continual investments in expansion and modernisation of the company.
Despite the adverse economic situation following the 9/11 event GTML continued its policy of capital investment for modernisation and improvement to remain ahead of the competition.
To reposition itself to meet the challenges of post-quota era, starting from 1st January 2005, the Company executed a sizeable BMR and expansion programme, involving capital expenditure of over one billion rupees in the financial year 2002-03.
Very few textile units in the history of Pakistan may have seen such phenomenal growth as the GTML did. Starting production with 14,400 spindles in 1990-91, GTML today has 190,000 spindles, capable of producing 75 million kilograms of yarn, expressed in 20's.
The ongoing expansion will further add ten thousand spindles, raising the total strength to 200,000 spindles by 30th September 2004. No wonder, then, the GTML is the largest spinning mill in the country.
MANPOWER: The Company currently provides employment to over 4,600 people. Plant, being located in a remote area of the country where, understandably, job opportunities are scarce, is contributing significantly to the economic development of Swabi district by providing employment to so many people.
Recognising that people are the driving force for success of an industry, GTML strives to provide its employees a congenial environment, so that they can work to their full potential.
The plant is managed by qualified and expert textile technologists whose emphasis is not only on smooth operation of the plant but also imparting training to the employees to increase their skills in their fields.
ORGANIZATIONAL STRUCTURE: The organisation structure of the Plant provides for operation of independent production units. This scheme permits comparison of their performance and effective control.
QUALITY: GTML lives up to its vision through providing high quality yarn produced under stringent quality standards for maximum value to its customers.
Everyone from top management to workers is driven by this vision and engaged in applying resources to continual product improvement.
FINANCIAL HEALTH: GTML has a robust balance sheet as is evident by a long-term debt to equity ratio of only 33%, as on 30-9-2003.
The sponsors are well-versed in financial strategy and the retention of profits in its business for capital expenditure is a hallmark of this strategy.
By continually improving its performance, the Company aims to generate earnings sufficient to ensure a secure future for itself and to protect and increase shareholders' investment.
CONTRIBUTION TO THE NATIONAL EXCHEQUER: During the year ended 30th September 2003, the Company contributed to the national exchequer Rs 565 million in the form of sales tax, income tax, import duties and other statutory levies.
AVOIDANCE OF WASTE: The employees are inculcated with an abhorrence of waste---the waste of manpower, the waste of raw materials, the waste of space, the waste of machine time.
The underlying objective is to keep Company's costs lower than those of the competitors.
FUTURE OUTLOOK: Pursuing its objectives, the Company has, over the years, doggedly persevered to attain the present enviable position. At GTML, we work to achieve commitment, integrity, fairness and teamwork into every aspect of our business.
Given its vision and its focused strategy, GTML can look forward to as bright a future as its past.
(The author is M. Sohail Yunus Tabba Director Gadoon Textile Mills Limited)
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