Telephones: 32417812-16
32401139-43
FAXES : 32427560-32417907
Adam Sugar Mills Ltd.
Ref: ADAMSM-HO/G-5/003
Monday, January 5, 2026
The General Manager Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road KarachiHEAD OFFICE :
HAJI ADAM CHAMBERS,
P.O. BOX 4274,
ALTAF HUSSAIN ROAD,
NEW CHALLI, KARACHI-PAKISTAN NTN: 0709384-5
FINANCIL RESULTS FOR THE YEAR ENDED SEPTEMBER 30, 2025 (AUDITED§
Dear 5ir,
We wish to inform you that the Board of Directors of our Company, in their meeting held on Monday January 05, 2026 at 11.30 AM at the registered office of the Company recommended the following:
Cash Dividend 40%
Bonus Shares NIL
Right Share NIL
In compliance of Notice No. PSX/N-062 dated January 10, 2025; we enclosed herewith the following:
Financial Result (Statement of Profit or Loss)
Statement of Financial Position
Statement of Cash Flows
Statement of Changes in Equity
The Annual General Meeting of the shareholders of the Company will be held on 11:00 a.m. on Tuesday, January 27, 2026 at The Arts Council of Pakistan, M.R.Kiyani Road,
The Share Transfer Book of the Company will remain closed from January 17, 2026 to January 27, 2026 (both days inclusive). Transfer received at Company Share Registrar M/s C & K Management Associates (Pvt.) Ltd, Suite # M-13, Progressive Plaza, Civil Lines Quarters, Near PIDC, Beaumont Road, Karachi at the close of business on January 16, 2026 will be treated in time.
Very truly yours
For Adam Sugar Mills Limited Chie ec ve / DirectorMllls : Chak No. 4, I-ord Wah, Chistian (Distt Bahawalnagar) Phones : (063) 2501541-48 (063) 2503637 Liaison Office : 345-A/1, Gulberg - III, Opp. Niuar Art Press Lahore. Tel: (04ñj JS/5/21b
Adam Sugar Mills Limited
Statement of Profit or Loss
For the year ended September 30, 2025
(Restated)
2025 2024No/e -----------------Rupees-----------------
Sales revenue - net | 24 | 10,841,042,745 | 8,055,242,392 | ||||
Cost of sales | 25 | (10,127,300,649) | (7,130,102,302) | ||||
Gross profit | 713,742,096 | 925,140,090 | |||||
Administrative expenses | (211,393,947) | (193,741,440) | |||||
Se11inp• and distribution costs | (48,991,786) | (15,2o0,695) | |||||
(260,383,733) | (208,972,135) | ||||||
Operatinp• profit | 453,356,363 | 716,167,955 | |||||
Finance costs | (?$9,•°4z,3S?) | (565, $08,995) | |||||
Other income | 29 | 18,027,323 | 23, 85,919 | ||||
Other operating expenses | 30 | (32,528,786) | (33,178,867) | ||||
(304.040.520) | (575.601,943) | ||||||
Profit before lev'ies and taxation | 149,309,843 | 140,566,012 | |||||
Levies | (60,015,857) | (34,028,673) | |||||
Profit before taxation | 89,293,986 | 106,53 7,339 | |||||
Taxation - net | 32 | (43,160,1J9) | (33,452,020) | ||||
Profit al'ter taxation | 46.135.837 | 73,085, 19 | |||||
Earnings per share - basic and diluted | 33 |
The annexed notes from 1 to 42 form an integral part of these financial statements.
ie E x utive
'$ 'ctor
Chie fFinancial Offic e r
Adam Sugar Mills Limited
Statement of Financial Position
As at September 30, 2025
ASSETS(Restated)
2025 2024
Note ------------------------ Rupees ------------
(Restated) 2023
Non-current assets Property, plant and equipment | 4 | 6,651,978,276 | 6,418,184,008 | 6,5i3,3 81,086 |
Intangible assets | 5 | 2,008,500 | ||
Long term advances | 3,691,600 | 30,864,400 | 1,503,424 | |
Long term deposits 4,191,581 4,191,d 8I 4,306,48 l | ||||
6,661,869,957 | 6,453,239,989 | 6,559,190,991 | ||
Current assets | ||||
Stores and spares | 6 | 124,247,835 | 154,330,437 | 178,672,213 |
Stock in trade | 7 | 801,926,516 | 3,249,144,346 | 1,827,839,307 |
Short term investments | 8 | 25,020,460 | 2J,020 460 | 25,204,970 |
Trade debts - unsecured | 9 | 743,312,197 | 506,643,021 | 98,357,818 |
Loans, advances, deposits and prepayments | 10 | 137,680,22-7 | 89,555,315 | 75 388,674 |
Others receivables - considered good | 77 | 10,822,057 | 12,i49,S18 | ] 1,456,5 7 |
Bank balances | 72 | 25,807,240 | 53,025,872 | 35.231.198 |
1,869,816,562 4,090,272,269 2,252,151,017 | ||||
Total assets | 8,531,686,519 | I 0,543,512,258 | 8,51 I,342,OOS | ||
EQUITY AND LLCDI LI I IE?• | |||||
Share capital and resern'es | |||||
Authorized capital | 250,000000 | 200,000,000 | ?50, 000.000 | ||
Issued, subscribed and paid-up capital | 13 | 172,909,620 | 172,909,620 | 172.909.620 | |
Coyital reserves. | |||||
Surplus on revaluation of property, plant and equipment- net Share premium Capital contribution from dircctor | /J | ||||
3,609,603,728 | 3,719,555,366 | 3.872, I 10,452 |
3,418,092,417 | 3,528,044.055 | 3,680,599,141 |
172,909,620 | 172,909,620 | 172,909,620 |
18,601,691 | 18,601,691 | 15,601,691 |
Non-current liabilities
Subordinated loan from Chief Executive Long term financing
Deferred liabilities Provident fund payable
5,097,516,795 5,076,828,89020,411,807 | ||
J54,813,156 | 219,882,722 | 312,254,709 |
1,250,659,803 | 1,307,390,047 | 1,329 350,977 |
5,050,558 | 4,945,994 | 4.267,808 |
16
/Z
5,097,537,39l
Current liabilitiesShort term borrowings
Subordinated loan from Chief Executive Trade and other payables
Accrued markup
Current maturity of long term financing
Current maturity of deferred income - Government grant I inclaimed dividend
Taxation - net
Continp•encies and commitments
Total equity and liabilities 1,710,523,517 1,532,218,763 1,666,285,301570,099,304 | 2,71 °,924,732 | 664,°02,2 S2 |
24,959,714 | 22,571,399 | |
615,697,275 | 835,408,349 | 1,090,915,33 l |
26,843,124 | 208,113,890 | 78,451,764 |
150,780,809 | 115,055,580 | 96,771,33 7 |
l,0l0,7ss | 1,618,314 | 2,11U,493 |
7,613,657 | 7,156,698 | 6,251,126 |
7S
19
20
27
16
22
1,723,646,207 3,934,464,605 2,047,J19,31 623
8,531,686,519 10,543,5 I 2,258 8,811,342,008Adam Sugar Mills Limited
Statement of Cash Flows
For Ihe year ended September 30, 2025
CASH FLOVS FRONI OPERATING ACTIVITIES
Nole
2025
Rupees
(Restated) 2024
Profit before levies and taxation
Aitjustments:
Depreciation on property, plant and equipment Gain on disposal of fixed assets
Provision for provident fund Finance costs
Amortization of deferred grant - net Interest on unwinding of the loan
Interest recognized on unwinding of the liability Provision for staff retirement benefits
Profit on savings account Profit on term deposits
Provision against slow-moving stores and spares
4.1
29
28
29
17.2.2
29
29
30
l49JD9843
140,566,0 12
Operatin_• profit befor.• workin_• capital chan_•es
Increase /(decrease) in current liabilities
Trade and otl-er payables
Financial costs paid Payment to provident fund
Pavment a-Lai.net w'orkers' profit participation Fund ' Staff retirement benefits paid
Tax°s paid
Net cash (used in) / generated from operatinp• activities CASH FLOW'S FROM Ih4TSTING .ACTIVITIES
Additions to property, plant and equipment Addition to intaneibles
Proceed from sale of operating fixed assets Long term advances- net
Longs term deposit received Short term investments- net
Profit received on saving accounts Profit received on term deposit accounts Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Short term borrowing-net Dividend paid
Long term loan obtained
581,607,622 863,928,917 730.917,465 1,004,494.929
30,29ti,017
2,447,217.830
441,J0 1
(1,421,305,039)
(470,815,621)
(2,642,000)
(25,555)
(148.023,929)
(42ñ,754,236)
(2,419,614)
(29.071.238)
(278,511)
(189.844.726)
278,874,707 | 282,001,899 |
(1,360,117, | |
2,746,564 | 3,097,800 |
289,545,057 | 561,243,026 |
(1,606,444) | (2,224,191) |
2,388,315 | |
2,515,997 | |
4,084,187 | 3,221,872 |
(J,J76,?-37) | (J 41,423} |
(590,603) | (5,810,224) |
4,826,099 | 23,900,275 |
(487,999,J 22) | (147,194,704 | |
(2,008,500) | ||
l,7ñ0,000 | ||
(29,360,976) | ||
114,900 | ||
184,510 | ||
1,176,257 | 141,423 | |
2,318,334 | 4,717,243 |
(621,507,305) (647.c68,325) 2.066,459,645 (1,731,276,825)
29
(911,726,995)
(25,479,48J)
384,687,698
1, 122,268,000
(59,612,796)
(486,513,031) (169,647,604)
Long term loan repaid | (116,548,032) | (75,790,551) | ||
Net cash q•enerated from / (used in) financing activities | (669,066,813) | 986,864,653 | ||
Net (decrease) f increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash eguiva)ents at the end of the year | 34 | 910,879,801 (977,166,J66) (66,286,665) | (914,05 9,776) (63,I 06,690) (977,166,466) | |
The annexed notes from I to 42 form an integral part of these financial statements. |
E cutive
z' Chie f Financial O&cer
Adam Sugar Mills Limited
Statement of Changes in Equity
For the yeor ended September 30. 20.!5
Issued, subscribed
Surplus oo revaluafioa of property, plant and equipment -
Share reraiura
Capital contribution frooi Director
Revenue reserves
General Unappropriated
reserve profits
Total
Balance ss at September 30, 2023 (as previously reported) 172,909.620 3,780,726,839 I 1.*,909,620 18,601,691 200,000,000 918,513,735 5,263,66l,ñ05 Effect of correction of prior period errors(refer note 41) - (100,127,698) - - - (65,996,416) (166,124.114) Balance as at September 30, 2023 (as restated) 172,909,620 3,680,599,141 172,909,620 18,601,691 200,000,000 852,517,319 5,097,537,391
Increr0 entat depreciation cansteered Tom surplus oa
revaluation ofproperty, plant and equipment -
net of deferred tax - restated
Total comprehensive incomefor the year ended September 30, .!0.*4
- Profit after mxation (restated)
- Other compreñe .five incom e (restated}
(119,179,186)
- (33.375.900)
- (33,375,900) -
I t9,179,186
- - i3,083Jl9 73,083,319
- - 100.448 (33.275,4ñ2)
- - i3,lSi,767 39,S09,g67
Segiem ber 30, 2G23
Balance as at September 30, 20?4 - restated
Incremental depreciation transferred from surplus on revaluation of property, plant an‹i equipment -
n-t o* defy. .: d :-:‹
Total comprehensive incomefor theyear ended September 30. ?02.›"
to†.I i 5.365) (60,s iS,36a)
]72,909,620 3,i28,044,055 172,909,620 18.601,691 200.000,000 984,363,904 5,076,828,890
-Pro6ta5ertixañon
-OAercQmpehensivoWcome
Transactions with owners.-
- - - - - 46133,837
- - - - - 490,âM
- - - - 46.6243•8
46133.837
490.Alt
46,624,348
Finai cash dividend 0 15% for the year ended September 30, 2024
Balance as at September 30, 2025
(25,936,443) (25,936,443)
1?2,909,620 3,4t8,092.4J 7 t72.909,620 I8,60I,69t ?00,000,000 I, I I?.003.447 5.097,Jt6,793
The annexed notes from I to 42 form an integral part of these financial statements.