2
CHASHMA SUGAR MILLS LIMITED
UNCONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTH PERIOD
ENDED MARCH 31, 2025
CHASHMA SUGAR MILLS LIMITED
COMPANY INFORMATION
Board of Directors
Begum Laila Sarfaraz Mr. Abbas Sarfaraz Khan Ms. Zarmine Sarfaraz Mr. Islander M. Khan Mr. Rizwan Ullah Khan
Ms. Samia Liaqat Ali Khan Mr. Feisal Kemal Khan
Chief Executive Chairman Director Director Director
Independent Director Independent Director
Company Secretary
Mr. Mujahid Bashir
Chief Financial Officer
Mr. Saqib Khan
Head o4 lntaznal Audh Mr. Zaheer Mir
Auditors
Mls. ShineWing Hameed Chaudhri & Co., Chartered Accountants
Tax Consultants
Mls. ShineWing Hameed Chaudhri g Co..
Chartered Accountants
Legal Advisor
Mr. Tariq Mehmood Khokhar
Barrister—at-Law, Advocate
Shares Registrar
Mls. Hameed Majeed Associates (Pvt.) Limited,
H.M. House. 7-Bank Square, Lahore.
Phone No. : 042-3723508 a Fax No. : 042-37235083
Bankers
Bank Al-Habib Lim ted Habib Bank Limited
The Bank of Khyber National Bank of Pakistan
MCB Bank Limited Maori Bank Lmied
The eank of Punjab Askari Bank Limited
Bank AI-Fatah Limited United Bank Limited Dubai Islamic Bank (Pakistan) Limited Meezan Bank Limited
Al-Baraka Bank (Pakistan) Limited Habib Metropolitan Bank Limited Allied Bank Limited Samba Bank Limited
oate of crushing Stoned | November272023 | ||
Date ol Crushing Closed | 64arch 03. z02S | Fmrch6,2024 | |
Crushing • M. Tons | 1.484,965 | 1,726610 | |
Sucrose Recovery Su8ar Production M. Tons | 9.74¥ | 9.94W 10L591 | |
EchanoIfueIPTzntPnoducñon-Y.Ion*ñII3lTMarch | I7.3l•4 | 17.638 |
2025 ,77
T he annered notes form an tntegrap pay of bese conden sed ‹menm h nancta!s6 iemenO.
CHASHMA SUGAR MILLS LIMITED
C ONDEN LED INTERIM STATEMEN T OF DINANCIAL POSTTIO I AT AT MARK H 34, 2025
CHASHMA SUGAR MILLS LIMITED
e
o
Right-of-use asseD | 15 | 349.179 | 28S.474 | levias and disnounis | 22 | (755,909) | (726.300) | (1,300,y36) | ( ,45Z,801) | |
Long lerm inveslmenls | 16 | 1,652,823 | 1.652,823 | Saies - net | 11,937.884 |
729,232 | 732,276 | |
15.403,KT | 3,98g.4a0 | |
654,674 | 276,285 | |
3,277,575 | 1.S60,065 | |
424,191 | 2B5,123 | |
59e,074 | ||
476,4g4 |
10
CHASHMA SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2025
Un-Audited Audited March 31, Seplember 30
2025 20Z4
Nota - - - Rupe•s In '000 • - -
Non-Current Assets
Progeny, pI8n and equipment
14
Z0,631,114 2t,545.185
Long lerm security deposits
15,343 15,343
22,848,463 23.508,825
Current Assets Stores and spares
Trade debfs
Loans and advances
Trade deposits and olher receivables Jncome tax refundable
Cash and bank balances
17
16
19
20
21
21,563,795
8,136,07S
Total Assets
44.412,256 31,644,900
The annexed notes form an Integral part of these condensed interim financial stelemenls.
Chief Rinzncial Officer
Aasets
CHASHMA SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOBS (UN-AUDITEO) FOR THE QUARTER AND SIX MONTHS PERIOD ENDED MARCH 31, 2025
Quarter ended
haSd o
March 31, March 31. 6sarch 31, March 31,
2025 2024 202S 2024
Note • • • - • - • - Rupees in ’000 - - - - - - - -5,317,669 6.397.183 11,253.624 13:390.885
Sales iax. other government
Cost of sales
Selling end digltibuiion expenses Adminislralive and genera! o•0enses Other in u› io
Other expenses
(Loss) / profit from operetiona
nuance cost - net
(Lass) / profit before revanuQ tax
(4.292.445) (4,698.966) {9,607,992) (9.079.747}
269,SJ5 971,917 344,496 2,858,137
f*88.888) l830,271) (568,82g)
(349,401) (298,444) (667,Z61) (598.188)
145.110 92.540 625,8d7 166,384
(2,009) 44,061 (2,015) (10.118)
(235,695) 579.803 (2w,S81) J,949,622 (780,3t5) {J.257,695) (j,6s4,510) (1,934,952)
Income tax expenses J3
(Loss) / profit for the period
(57,672) (17,599) {125,076)
(1.073,682) (68S,491) (2,217,149)
476,399 192.317 974.732
(595,283) (503.174) (1,242,417)
f4,6F0
tao,osH
7d,150
44,752
( 17.54)
1.56
The annexed noise form an inlegrâl pan of Ihese condensed interim financial staem'enIs..
CHASHMA SUGAR MILLS LIMITED
C ONDEMSED INTERIM STATEMEMT OG CI•IANGER IN EQUW{UN-AUDITED) FOR THE SIX MON T N S PERIOD ENDED MARCn 41, e025
CHASHMA SUGAR MILLS LIMITED
NOTES TO THE CONDENsED iMTEaizs riu aicia srATZMEKTS {UN•AUDITED) FDR THE 8fX MO IYH9 PERiOD ENDED MARCH 31, 20Z5
LSGAL STATUB AND MATURE OP BUSINESS
Chca?IzrzB 6upar Mills Ltmg¥d Shae fifimpany) ++eg k›carp‹>'aled 10 Pakistan off Ney 5, 1988 as e wblic limited company, under the tapeeled Companies Ord¥jenoe, 1984 (rapaalad tJP0ñ enactment of the CompanBe AcL 2017 OF Mai 30, 2017) 4nd 00ITIITI0tt40d ID
produolon. procea6bt0. compoutxling, j>opara6on and sale at sugar, other aBad PODRds, intermedialee and shied Pt0dxXs.. The Compdfg' b a &Jb8JdtBry of Th• PtwTil•r 9ugar Mills and Dlcllllwy Company Lhnhed. The heed offioe ef be Company ie slksBted at King's Arcade. 2W Merkaz F-7, Islamabad and its marMecturtng radezlas ara located al
Dere km•il Khan, Khyber Pakfiktnkhwa.
BA9fS OF PREPARAylON
Stat•ntent of complfanca
The9e condensed interlm finande .ct8lemenls have been pr•paced in eccordarwith the. accoumIng and reporgng standards. ee applicable In Pakfetan i• iniarir« financial renaming. The -nting and repalting standards applicable n Pakielan ror interim finarrdd raportln9
mIarnational Accounting Slsndards (IAS)’M,’Interim Finandat Reporting' issued by the Inlematiasal Accountirg St8ndardc Baerd (IASEI) os no0fiea under the Carrg›anles Aut,
infants of P8xlcten as notiF*ed under the CompanBe Act, 201t; and
Provbions of and directi 'ee igsu•d under tha Companiee Act.. Z017:
Who provide of 'and direutha8 I68ued L¥KI8t tha Companles Act, 2017 diflbr with lh6 requltements of fAg 34, the provi6fons of and direc0ves issuad undo b›e Companies AcL
These c•ndansed interim flnendal satemenis doas not Include oil the infannatiou arx disclosures as required In an annuel autflted financial sl tomenls. and Mesa stood ba. read in co«J«•csan win k›a.. Compeny'y ennua3 auailad financial 6latsmenB for the y•ar •nded
the shareholders w required by .fh• sactlon 237 of he Companies Act, 2017.
2.2
that or• •ff•ctive during the period
Certain standards, amendments and kTtergretegons to IFRSa are effective for aocoJntlng periods beginning on October 01, 2024 but ce.considered not a be faIevant.m B hava sny slgnlcant ¥ffed on the Company's oparstione (although Ihey may affact tha accounang for fUture kBnsaclians and events) an4.erp; Owrefore, not detailed In these condensed nx•x4al stalamenta
thet er• •ffactive for ntb›g. periods bagin+›ing on and shier OO•bar 01, 2025 but are considered not to be relevant a to have any significant shed on 0Is Company's operations and are; tt'›•rafore, not detailed in 0›e¥e txrxl.ensad tntarlm lbtancbl >e e,ii
MATERIAL ACCOUNTB'tG POLICY INPORMATTON
Aa the acsountlzlg policies atxl é›e meeode of co‹nputeticedoptad In 0›e prepara6on of
1B,*M | (8g0,00o s2,S07 | ||||
CHASHMA SUGAR MILLS LlhfliTED
CONDs ssD iMTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE SIX MOMTI•IS PERIOD ENDED NARCH 91, ZOZ5
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C*shfiewfn'wn'-t'•e•v••'•-
Enceskment o TOR
1.1OS+415
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c•«h ••d •+•n •quIv anus - st begki ng oi w a
ca•n sha esurvaimts -.are or we e• •<
21
478r404 168,468
31.749
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CHASHMA SUGAR MILLS LIMITED
CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTH PERIOD ENOED MARCH 31, 2025
Surplus on revaluslion o! property, plant and equipment | 10,188,400 | 327,000 9,575,365 | |
Unappropñated profile | 1,111,813 | 2.39B,917 | |
Equity attributable to owners of the parent | 11,914,133 | 12.588,202 | |
Non-conlrolling interest | 146,665 | 210,190 | |
12,060,798 | 1 2,798,392 | ||
Non-Currant LfabiIf1as | |||
Long term finances - secured | 7 | S.777A21 | 5,426,839 |
Loans from related parties - secured | 6 | 137,4T2 | 148,097 |
Lease Liabilities | 159,979 | ||
Deferred liabilities | |||
- Deferred Taxation | 1,190,291 | 3,174,679 | |
- Provision for gratuity | 20,981 | 22,132 | |
- Deferred government grant | 38,150 | 49.695 | |
1,249,4M | 3.246,506 | ||
Current Liabilities | 7,360,800 | 8,881.421 | |
Trada and other payables | 10 | 3,347,2t0 | 1,B75.443 |
Short tern finances - secured | 11 | Z2,669.499 | 9,514,950 |
Current mauriIy of non cu ent IIabiIIIios | 12 | 1,190,172 | 1,409.414 |
Unclaimed dividend | 15,679 | IS.679 | |
Provision for income tax I levies | 517.Z67 | 390,372 | |
27,74o,25t | 13,y05.858 | ||
Total Liabilities | 35,101,057 | 22,187.279 | |
Contingencies and commitments | 13 | ||
Touil Equity And Liabilities | 47,161,655 | 34,985.671 |
27 28
CHASHMA SUGAR MILLS LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT MARCH 31.2025
Un-Audited Audited March 31. September 30,
2025 2024
Note • • • • Rupees in '000 • • • •
Equity end Liabilities
Shere Capital and Reserves
Authorised capital 5O0,000 500,000
Issued. subscribed and paid-up capital 6 286,920 2B6,920
The annexed noles form an inlegrel p8rt of these condensed interim financial selements.
CHASHMA SUGAR MILLS LIMITED
CONDENSED INTERIM CONSOLIDATED STAYEMENT OF FINANCIAL POSFTION AS AT UARCH 31, 2025
un-Aoaana Awaited
March 3J , Septem her 30
2025
Note
- - - Rupees in '000 - - -
2024
Asses
The annoxed notes form an integral part.of tea-se condensed interim financial statemens.
CHASHMA SUGAR MILLS LIMITED
CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE QUARTER AI4D SIX MONTHS PERIOD ENDED MARCH 31, 2425
Quarter endad
Six •=r.th• p•rJod ended
the annexed notes form •n integral parl of these condensed interim financial statements.
Harch 31, 2025 | March 31. 2024 | March 31, 2025 | March 31, 2024 | |||
Gross sales | 21 | 6,617,717 | 6.046.913 | 14,126,700 | 14.891.092 | |
Sales tax, other government levies and discounts | 22 | (756,951) | (677,268) | (1.303.049) | (.452.801j | |
5,860.766 | 5,369.645 | 12,B23,6S1 | 13,438,291 | |||
(5.686,096) | (4,171.343) | (12,5S4,409) | (10,404,513) | ||
Grosa profit | 174,670 | 1,198.302 | 229,242 | 3,033.778 | |
Selling and disalbuiion expenses | (329,444) | (241.38) | (629,881) | (477.461) | |
Admii il* at'v< and general axpenses | (432.756) | {335,222) | (827.T46) | (698.285) | |
Other income | 104,S38 | 69,042 | 568.801 | 112,967 | |
Oder expenses | (2.009) | 44,g61 | (Z,015) | {10,11B) | |
(Loss) f proftt from operations | (485,001) | 72S.045 | (681.599) | 1,960.881 | |
Finance cost - net Loss before revenue tax | (897,400) | (1,357,924) | (2,063.565) | (Z,130.¥32) | |
{1.382.401) | (622.8B0) | (2,745,182) | (169.551) | ||
Final taxes - levy | (60,919) | {17,599) | (13Z,255) | 40,06B) | |
Long before iiuut<.a tax | (1,443.320) | (640,*78) | (2,477,417) | jZ09,61B) | |
Income lax expenses | 571.419 | 173.tB5 | 1,13t.823 | 99,45t | |
Loss for the period | (871.001) | (467,Z93) | (1.T39,594) | {110,166) | |
Attributable to: | |||||
Crwners of Itie Parent Company | (637,506) | (S01,035) | (1,676,069) | (88,B1 ) | |
hon -controlling interest | (34.393) | 33,742 | (63,525) | (J1,357) | |
(871,9d1) | (467,293) | f1.739,594) | (110,168) | ||
Loss per sharo atlnbulablo io owners of | |||||
parent company - basic and diluted (Rs) | (29.19} | (17,46j | (58.A2) | (3.p) |
Non-Current Assets | ||||
Property, plant and equipmenl | 14 | z4,s10,e20 | y5,693.313 | |
Right-of-use assels | 15 | 366,799 | 316,081 | |
Long term securiy deposits | 15,343 | 15,343 | ||
349,606 | 192,100 | |||
Current Assets | 25,542,568 | 26,216,e37 | ||
Stores and spares | 797,052 | 784,565 | ||
Stock-in-made | 15,865.114 | 4,751,694 | ||
Trade debts | 928,804 | 440,g18 | ||
Loans and advances | 18 | 2,497,233 | 1,088,129 | |
Trade doposiD and other receivables | 19 | 206,986 | 212,159 | |
Income lax refundable | 644,778 | 440,513 | ||
Prepaid asset -levy | 2,218 | |||
Cash and bank balances | 20 | 659.230 | 1,049,136 | |
21.61B.287 | 8,768.834 | |||
Total Assets | 47,161,855 | 34,985,671 | ||
CHASHMA SUGAR MILLS LIMITED CHASHMA SUGAR MILLS LIMITED
“” ” *'” “"*” ““”’”“’ “'*” ” ”
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