Packages Limited ('Packages' or 'the Company') was established in 1957 as a Joint Venture between the Ali Group of Pakistan and Akerlund & Rausing of Sweden, to convert paper and paperboard into packaging for the consumer industry. Over the years, Packages has continued to enhance its facilities to meet the growing demand for packaging & allied products. It used to be classified as an operational holding company. However, during 2020, the Company transferred the manufacturing business into a 100% owned subsidiary; Packages Convertors Limited, as a result of internal restructuring.

Packages is the flagship investment holding company of Ali Group. The Group owns IGI Holdings Ltd., Babar Ali Foundation, Gurmani Foundation and Mohsin Trust. Its investment book comprises of entities engaged in manufacturing of packaging materials, tissue, consumer products, industrial inks, paper, paperboard products and corrugated boxes, biaxially oriented polypropylene (‘BOPP’) and cast polypropylene (‘CPP’) films, biopharmaceutical products, ground calcium carbonate products, corn-based starch products, insurance, power generation and real estate.

Ali Group holds ~ 50% stake in Packages through Directors and individuals of the sponsoring family (~ 5.8%) and various associated entities (~ 44.2%), with IGI Holdings owning the prime share of ~ 29.8%. Financial institutions and Modarabas own ~ 8.2% stake. While~ 29.2% of shares of the Company are held by the general public.

Ownership of the Company draws stability from a major stake being held by Ali family.

Ali Group is ranked amongst the leading industrial groups of the country with interests in paper and paperboard, packaging, financial institutions, education, and real estate sectors. Strong affiliation with international JVs is suitable for the Company’s holding structure.

The Sponsors of Packages Limited possess strong financial standing, with a long-standing track record of successful business operations and strong financial management. They have demonstrated consistent support to the Company through strategic investments and effective governance. Their diversified business interests and sound reputation in the corporate sector further strengthen the Company’s credit profile.

The Board of Directors (BoD) consists of 10 members, including three Independent Directors, five Non-Executive Directors, and two Executive Directors. This balanced composition ensures a diverse mix of perspectives and reinforces the Company’s commitment to robust corporate governance. The significant presence of independent oversight enhances transparency and strategic decision-making. Additionally, the Board benefits from the advisory input of a key individual instrumental in the development of the Ali Group, further strengthening its strategic direction.

The BoD, with a well-diversified background and relative expertise of its members, is a key source of oversight and guidance for the management. Mr.Towfiq Habib Chinoy, Chairman of the Board, holds directorships of various entities. He has served as the Company’s Board of Director’s Chairman since 2008. He served as Managing Director of International Industries Limited (IIL) for 37 years, he is now the Chairman of Yaqin Steels Limited and is on the Mohatta Palace Gallery Trust Board of Trustees. Syed Hyder Ali joined Packages Limited in July 1987 and is currently the Managing Director and CEO of Packages Limited and IGI Holdings Limited. He holds a Masters in Sciences from the Institute of Paper Chemistry. Syed Shahid Ali presently serves as a Non Executive Director of the Company. He is the Chairman of Treet Corporation Limited and Gulab Devi Chest Hospital. Mr. Hasan Askari is an Independent Director on the Board of Packages Limited. He has extensive experience in investment banking, mostly in advisory roles, as well as debt capital markets. Mr. Atif Bajwa is the CEO and Director of Bank Alfalah Limited. He has an extensive career spanning over 40 years, both locally and internationaly including senior leadership responsibilities in banking, as well as several boards and public interest positions. Ms. Saba Kamal has over three decades of experience in the area of Information Technology, with 20 years in senior leadership positions with IBM in Pakistan and internationally. She is a member of the IBA Board of Governors. Mr. Tariq Iqbal Khan serves as a non executive director of the Company. He is a Fellow member of the Institute of Chartered Accountants of Pakistan and has over 45 years of diverse and varied experience. Syed Aslam Mehdi, Executive Director and Group Head External Affairs, holds a Masters’ degree in Business Administration from the Institute of Business Administration in Karachi and has previously worked for Packages Group in numerous roles. Mr. Josef Meinrad Mueller serves as the Company’s Non-Executive Director. He was born in Switzerland and received his education, including an MBA, at IMD (previously IMEDE) in Lausanne, where he also worked as an Executive-in-Residence. He has more than 40 years of top worldwide management experience with the Nestle Group in both established and emerging regions. Mr. Osman Khalid Waheed is the CEO and Director of Ferozsons Laboratories Limited, which he joined in 1993 after receiving his undergraduate degree from Harvard University in the United States. Prior to becoming CEO in 1999, he worked in logistics, sales, and marketing at Ferozesons.

The Board ensures effective governance through four committees, namely Audit Committee, Human Resource & Remuneration Committee, IT & Digitalization Committee and Sustainability Committee. Audit committee comprises 6 members, HR Committee comprises 7 members, IT & Technology comprises 4 members and Sustainability Committee comprises 3 members. The meetings were well attended with discussions focusing on the Company performance and strategic direction.

Packages Limited has established a well-defined internal audit function to ensure operational efficiency and maintain a strong control environment. The Company’s organizational structure is designed to promote clear delegation of authority and responsibilities, enabling effective execution of strategic and operational tasks across various departments. Furthermore, the Company has implemented a comprehensive risk framework that facilitates the timely identification, assessment, and reporting of risks arising from its diverse business operations. The Board Audit Committee (BAC) plays a vital role in ensuring the tansparency of financial, operational, and compliance controls, thereby safeguarding the Company’s assets and shareholders' interests.

Packages functions as an investment holding company. It has instituted a simple organizational structure that is divided across basic functional divisions. The subsidiaries' structure has been given independent operational roles.

The Company’s Chief Executive Officer and Managing Director, Mr. Syed Hyder Ali, oversees the Company's operations and also serves as a director on the boards of several other companies, reflecting his extensive industry experience and leadership stature. Mr. Khurram Raza Bakhtayari, the Chief Financial Officer, is a Fellow Chartered Accountant with a total of 27 years of professional experience, including 20 years with the Company. Mr. Jawad Gillani serves as the Group Head of Human Resources; he holds a Bachelor's degree in Business Administration and has been associated with the Company for the past nine years. Mr. Soban Waqar, also a Fellow Chartered Accountant, heads the Group Internal Audit function and brings nine years of experience within the organization. Mr. Waqas Munir, the Group Chief Investment Officer, is a Fellow Chartered Accountant with 11 years of dedicated service to the Company. The leadership team reflects a strong blend of professional qualifications and long-term association, contributing significantly to operational stability and strategic continuity.

Packages Limited demonstrates strong management effectiveness, driven by a seasoned leadership team with extensive experience in their respective domains. The CEO and senior executives possess long tenures with the Company, reflecting organizational stability and deep institutional knowledge. Strategic decision-making is well-aligned with long-term corporate objectives, supported by effective internal controls and financial discipline. The management’s ability to navigate operational challenges, maintain steady performance, and uphold the standards underscores its capability and reliability in steering the Company forward. The Company utilizes SAP, a robust Enterprise Resource Planning (ERP) software, to generate management information and operational reports. This integrated system enables real-time data processing, enhances operational efficiency, and ensures consistency and accuracy across all business functions. By centralizing information flow, SAP supports informed decision-making, strengthens internal controls, and improves overall transparency within the organization. The use of such advanced ERP infrastructure reflects the Company’s commitment to leveraging technology for effective management.

To ensure operational efficiency, the Internal Audit Function is placed at the Group level that identifies and reports risks.

Packages is an investment vehicle of Ali Group. For investment decisions, the Company has a dedicated investment team placed at the Group level and is headed by Mr. Waqas Munir as the Group's Chief Investment Officer. He is associated with the Group since 2014 and his team comprises of Chartered Accountants and a CFA charter holder.

Packages has a prudent investment policy as the Company focuses on building partnerships with well-established companies in the packaging sector, through local and foreign investments. Foreign investments include Packages Lanka (Pvt) Limited, OmyaPack (Pvt) Limited and Packages Trading FZCO. The current portfolio also includes investments in Nestle Pakistan Limited, Packages Convertors Limited, Tri-Pack Films Limited, Bulleh Shah Packaging (Private) Limited, DIC Pakistan Limited, Packages Real Estate (Private) Limited, StarchPack (Private) Limited, Hoechst Pakistan Limited and other strategic investements.

The Group investment team liaisons with the rest of the Group companies, and receives updates on their performance. The team then presents its findings to the BoD on a quarterly basis.

The Company's diversified revenue streams from manufacturing operations and real estate venture provide resilience against market volatilities and contribute to overall financial stability.

The Company majorly has three kinds of investments on its balance sheet: Core, Strategic and Non-strategic investments. Core investments include IGI Holdings (Listed), Bulleh Shah Packaging, Packages Real Estate, DIC Pakistan, Packages Convertors, and Packages Investments. Strategic Investments include Packages Lanka, Packages Power, OmyaPack, StrachPack, Packages Trading FZCO, Hoechst Pakistan Limited and Anemone Holdings. While, the Non-strategic Investments include listed Nestle Pakistan (Listed), Tri-Pack Films (Listed), System Limited (Listed) and Coca-Cola Beverages.

The Company received PKR 1.1billion in the form of dividend income from its investments during 3MCY25 (3MCY24: PKR 1.3billion). Out of these 700million were received from Packages Convertors Limited followed by PKR 202million from DIC Pakistan Limited.  

Packages’ interest coverage stood at 2.4x, during CY24 (CY23: 3.2x). Moreover, finance cost for CY24 was higher by PKR 150million mainly an account of long-term loans obtained to finance the investment in group companies. StarchPack, Tri-Pack Films and Hoechst Pakistan. 

Packages leverage ratio clocked at 15.3% during CY24 (CY23: 12.2%). short-term borrowings were recorded at 1,000million during the year. Long-term borrowings of PKR 8,251million (including current portion) were due to availing of long-term facility for the equity investment in subsidiaries. The Company’s equity base, decreased and remained at PKR 55.2billion during CY24 (CY23: PKR 58.6billion)

On a consolidated level, the Company reports total assets of PKR 248.6billion and total equity stands at 88.7billion at Dec'24.