Baba Farid
Sugar Mills Limited
The General Manager,
Pakistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road, Karachi.
No. BFSML/BoD/2Qtr/2025
May 22, 2025
SUBJECT: FINANCIAL RESUI.TS FOR THEUARTER ENDED 31-03-205
Dear Sir,
We have to inform you that the Board of Directors of our Company in their meeting held on Thursday the 22"' May 2025 at 16.00 hours at the Registered Office 2-D-1, Gulberg III, Lahore recommended the following:
Financial Results for the 2•d Quarter/Half year ended 31" March 2025
Statement of Financial Position for the 2^ Quarter/Half year ended 31" March 2025.
Statement of Changes in Equity for the 2" Quarter/Half year ended 31• March 2025.
Statement of Cash Flows for the 2•d Quarter/Half year ended 31" March 2025.
the Quarterly Report of the Company for the period ended will be transmitted through PUCARS separately,
within tlte specified time.
Yours faithfully,
For and on behalf of
Baba Farid Sugar ills Limited,
Company Secretary
Encl: As above
Copy to:
Executive Director, OD,Offsite-II Depa ent, Supervision Division, Securities & change Commission of Pakistan,
63-NIC ilding, Jinnah Avenue, Blue Area, Islamabad.
Head Office: 2-D-1, Gulberg III, Lahore, Pakistan | Email: info@bfsrnl.com | Site: Skm Faisatabad Road, Okara |
Tel: +92 (42) 35771066-71 | Fax: +92 (42) 35756687 | Website: https://www.bfsmI.com | Tel: +92 (44) 271441&20 | Fax: +92 (44) 2714421 |
Annex- A
BABA FARID SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE HALF YEAR ENDED MARCH 31, 2025
Half year ended March 31, Quarter ended March 31,
2025
2024
(Rupec@
Restated
Revenue from contracts with customer | 4,173,556,272 | 1,681J08,826 | 2,692,628,908 | d43,079,206 |
Cost of sales | (3,670,773,627) | (1.504,554,469) | (2,412,278,908) | (535,271,860) |
Gross profit / (loss) | 502,782,645 | 176,654,357 | 280,350,000 | (92,192,654) |
Selling and distribution expenses | (50,553,723) | (18,656,681) | (30,593,916) | (11,529,035) |
General and administrative expenses | t*0,233,401) | (83,386,075) | (21,847,78Ij | (18,805,452) |
Other operating expense | (8,018,353) | (857,975) | (7,184,904) | (857,975) |
Other operating income | 28,739,805 | 62,l1S,770 | 11,272,315 | 30,B63,808 |
(120,065,672) | (40,784,961) | (48,354,286) | (328,654) | |
Operating profit / (loss) | 382,716,973 | 135,869,396 | 231,995,714 | (92,521,308) |
Financial charges | (274,648,040) | (304,877,732) | (153,465,170) | (250,361,283) |
Profit / (loss) before levy | 108,068,933 | (169,008,336) | 78,5S0,544 | (342,882,591) |
Levy | (50,8âl,721) | (21,336,618) | (33,72â,408) | (5,593,654) |
Profit / (loss) before income tax | 57,217,212 | (190,344,954) | 44,805,136 | (348,476,245) |
Income tax | ||||
Profit / (loss) for the period | 57,217,212 | (I 90,344,, 54) " | 44,805,),36 | _ (348,476,245)_ |
6.05
(20.14)
_ 4.7d _
Earning /(loss) per share - basic and diluted (Rupees)
BABA FARID SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED)
AS AT MARCH 31, 2025
ASSETS
NON CURRENT ASSETS
Property, plant and equipment Operating fixed assets
Right of use assets Capital work in progress
Dong term deposits
CURRENT ASSETS
Stores, spares and loose tools Stock in trade
Short term investment Trade debts
Loans and advances
Short term deposits and prepayments Other receivables
Taxation / levy- net Cash and bank balances
TOTA L ASSETS
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorized share capital
Issued, subscribed and paid up share capital
Reserves
Revenue reserves - accumulated losses Directors' loans
Surplus on revaluation of fixed assets
NON CURRENT LIABILITtE8
Long term loan
Long ierm diminishing musharaka Lease liabilities
Deferred liabilities
CURRENT LIABILITIES
Trade and other payables Contract liabilities Unclaimed dividend
Due to Pattoki Sugar Mills Limited Short term bnrmwing
Mark-up accrued
Current portion of long term liabilities
TOTAL EQUITY AND LIABILITIES CONTINGENCIES AND COMMITMENTS
March 31,
2025
283,133,914 | 207,803,822 |
4,742,346,136 | 1,942,632,882 |
306,400 | |
5,875,788 | 3,362,467 |
196,567,187 | 446.928,134 |
1,182,125 | 798,285 |
5,380,819 | 5,722,999 |
51,566,825 | 73,247,717 |
626444,494 | 83,789,198 |
3,421,988,646 | 3,427,348,441 |
10,004,826 | 13,838,540 |
366,688 | 12,552,659 |
3,432,360,160 | 3,453,739,640 |
390,600 | 630,184 |
3,432,750,760 | 3,454,369,824 |
19I2,49%290 | 2,764.591,904 |
9 341,248.030 | 6 *18 961 7*8 |
700.000,000 | 700.000,000 |
94,500,000 | 94,500,000 |
(2,942,666,686) | (3,024,992,840) |
3,002,700,000 | 3,002,700,000 |
2,492.164,162 | 2.517,273,104 |
2,646,697,476 | 2,589,480,264 |
(Unaudited) Rupees
109,549,150 | 139,544,750 |
180,000,000 | 210,000,000 |
4;036,270 | 6,621,610 |
29,578,051 | 25.281,610 |
410,617,617 | i97,369,3 6 |
477,527,525 | 241,776,008 |
255,930 | 255,930 |
9,007,275 | 9,007,275 |
4,837,935,181 | 2,059,050,720 |
396,393,084 | 416,221,001 |
223.650.491 | 324,333,204 |
323,163,471
6,375.387,103
Septezttber 30,
2024
(Audited)
Rupees
381,447,970
3.248,033,494
LAHORE. @
Annex- C
BABA FARID fi UGAR iYlILLS LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED) FOR THE HALF YEAR ENDED MARCH 31, 2025
Iseued, subscribed and paid-up share | Capital reserve (Surplus on revaluation of fixed assets) | Directors'( | Revenue reserves Aecuznalated loss | TOial | |
- (Rupees) | |||||
Balance as at October 01, 2023
Transfer from surplus on revaluation of property, plant and equipment - restated
Total comprehensive loss for the period - restated
94,500,000 2,330,038,563 3,002,700,000 (2,565,441,359)
t88.036,794) 27,036,794
- - - (190,344,954)
2,861,797,204
(190,344,954)
Balance as at March 31, 2024 | 94,500,000 | 2,303,001,769 | 3,002,'700,000 | (2.728,749,5 I9) | 2,671,452,250 |
Balance as at October 01, 2024 | 94,500,000 | 2,517,273,104 | 3,002,700,000 | (3,024,992,840) | 2,589,480,264 |
Transfer from surplus on revaluation of property, | |||||
plant and equipment | (25,108,942) | 25,108,942 | |||
Totsl comprehensive income for the period | - | - | - | 57,217,212 | 57,217,212 |
Balance as ct March 31, 2025 | 94,500,000 | 2,492 164 162 | 3 002 700 000 | 2 942 666,686 | 2,646 697 476 |
HDRE.
Aazzez- D
BABA FARID SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF CASH FLDW8 (UNAUDITED) FOR THE HALF YEAR ENDED MARCH 31, 2025
Half year eaded Marcb 31,
2025 | 2024 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | Note | Rupees | Rupees |
Profit / (loss) before levy and taxation | 108,068,933 | (169,008,336) | |
Adjustments of non cash and other items; | |||
Depreciation | 54,000,497 | 55,730,266 | |
Gain on sales of stores | (1,353,278) | ||
Provision for gratuity | 5,211,409 | 5,112,807 | |
Financial charges | 274,648,040 | 304,877,732 | |
Net cash flow before working capital changes | 441,928,879 | 195,359,191 | |
(lncrease) / decrease in current aesets | |||
Stores and spares | |||
Stock in trade | |||
Trade debts | |||
Loans and advances | |||
Short term prepayments | |||
Other receivable | |||
(2,627,237,380} | (4,978,539,936) | ||
lncrease /(decrease) la current liabilities | |||
Trade and other payables | 213,248,261 | (2,577,837) | |
Contract liabilities | 235,751,517 | 50,704,973 | |
448,999,7(8 | 48,127, 136 | ||
Cash used in opemtions | (1,736,308,723) | (4,735,053,609) | |
Income taxes / levy paid | (29,170,829) | (22,374,882) | |
Employees retirement benefits paid | (914,968) | (402,102) | |
Financial charges paid | (294,475,957) | (92,886,864) | |
Net cash used in operating activities | (2,060,870,477) | (4,850,717,457) | |
CASH f'LOWS FROM INVESTING ACTIVfFIES | |||
(75,330,092) | (45,496,041) |
(2,799,713,254) | (5,005,434,758) |
(2,513,321) | (1,236,784) |
250,360,947 | 68,75 1,638 |
(383,840) | 3,723 |
342, 180 | 4,872,286 |
(15,473,428) | (19,384,838) |
(i 7,147,5g9) | (5,982,964) |
306,400 | (306,400) |
239,584 |
Additions in operating fixed assets Additions in capital work in progress
(Decrease) / addition of short term invesment Decrease in long term deposits
Set cash flows genereatod froto / (used ia) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Due to Pattoki Sugar Mills Limited - net Repayment of long term loan
Repayment of diminishing musharaba loan Repayment of lease liabilities
Short term borrowings - net
(503,00 1) | |
(129,995.600) | (96,662,268) |
(30,000,000) | |
(3,288,053) | (2,522,965) |
2,798,884,461 | 5.078,770,197 |
(32,075,033)
t25,67d,202)
Net cash g‹nierated ftom financing activities | 2,635,600,808 | 4,979,0B1,963 |
Net increase in cash and cash equivalents | 542,655,298 | 102,690,304 |
Cash and cash equivalents at the beginning of the period | 83,789,)98 | 116,810,909 |
Cash and cash equivalents at the end of the period | 626,444,496 | 219,501,213 |