- ‌Company Brief
- Operational Highlights
- Financial Highlights
- Future Prospect
- Q & A Section
‌Company Brief
Jauharabad Sugar Mills Limited is a Public Limited Company and has a privilege of being one of the pioneer sugar mills of Pakistan. Initially, in 1953, it was setup by THAL Development Corporation of Pakistan which was later privatized and was listed as of December 1973 at Pakistan Stock Exchange Limited The Mill has been in operation for the past 72 years.
Current sponsors acquired the Company in March 2013 by taking over the assets and liabilities, paying-off the old sponsors, injecting Rs. 1 billion as sponsors' loan (on an interest free basis) and renamed the Mill as Jauharabad Sugar Mills Limited after its hometown.
This takeover enabled the Company to settle previous bank /grower/creditor debts. A major Balancing, Modernization and Replacement of Machinery has been carried out thus enabling the Company to achieve stated capacity to 9,500 TCD of its currently operating crushing line-II, in addition to non-operating crushing line -I having stated capacity to 3,000 TCD. The name plate capacity of the mill is 12,500 TCD.
‌Company Brief
Company Name | Jauharabad Sugar Mills Limited |
Company Symbol on PSX | JSML |
Registered Office | 125-B, Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore |
Mills | Jauharabad, District Khushab |
Credit Rating [Agency: PACRA] | Long Term: BBB+ & Short Term: A2 Outlook: Stable |
Authorized Capital | Rs. 700.000 Million |
Paid-up Capital [30-Sep-2025] | Rs. 341.285 Million |
Market Capitalization [30-Sep-2025] | Rs. 2.3 Billion |
Volume of Trade | 20.12 Million Number of Shares |
Name of Holding Company | Cane Processing (Pvt) Limited |
Shareholding of Associated Companies, Undertakings and Related Parties | 63.66 Percent i.e. 21.726 Million Number of Shares |
NIT, Banks, Insurance Companies and Mutual Funds | 2.96 Percent i.e. 1.011 Million Number of Shares |
Free Float | 35.41 Percent i.e. 12.086 Million Number of Shares |
Contribution to National Exchequer | Rs. 2,034 Million [In Shape of Taxes] |
‌Operational Highlights
Descriptions | Units | FY2024/25 | FY2023/24 | YOY Change |
Working Days | Days | 110 | 103 | 6.80% |
Sugarcane Crushed | M. Tons | 623,733 | 657,997 | (5.21%) |
Sugar Produced | M. Tons | 63,026 | 64,874 | (2.85%) |
Sugar Recovery | Percentage | 10.10% | 9.86% | 2.47% |
Sugar Sold | M. Tons | 77,310 | 59,136 | 30.73% |
Molasses Produced | M. Tons | 23,258 | 26,450 | (12.07%) |
Molasses Recovery | Percentage | 3.73 | 4.02 | (7.24%) |
Bagasse Produced | M. Tons | 186,340 | 191,819 | (2.85%) |
V.F. Cake Produced | M. Tons | 18,711 | 19,740 | (5.21%) |
‌Operational Highlights
160
140
120
100
80
60
40
20
0
Crushing Days [Nos.]
FY19 FY20 FY21 FY22 FY23 FY24 FY25
10.6
10.4
10.2
10
9.8
9.6
9.4
9.2
Sugar Recovery [%]
FY19 FY20 FY21 FY22 FY23 FY24 FY25
1,000,000
800,000
600,000
400,000
Sugarcane Crushed [MT.]
100,000
80,000
60,000
40,000
Sugar Produced [MT.]
200,000
20,000
-
FY19 FY20 FY21 FY22 FY23 FY24 FY25
-
FY19 FY20 FY21 FY22 FY23 FY24 FY25
‌Operational Highlights
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
-
Molasses Produced [MT.] 5
4
3
2
1
0
FY19 FY20 FY21 FY22 FY23 FY24 FY25
Molasses Recovery [%]
FY19 FY20 FY21 FY22 FY23 FY24 FY25
300,000
250,000
200,000
150,000
100,000
50,000
-
Bagasse Produced [MT.]
FY19 FY20 FY21 FY22 FY23 FY24 FY25
30,000
25,000
20,000
15,000
10,000
5,000
-
V.F. Cake Produced [MT.]
FY19 FY20 FY21 FY22 FY23 FY24 FY25
‌Financial Highlights Horizontal Analysis
Descriptions | FY2024/25 Rs in "000" | FY2023/24 Rs in "000" | YOY Change |
Sales - Net | 10,727,499 | 7,996,452 | 34.15% |
Cost of Sales | 9,245,827 | 6,987,145 | 32.33% |
Gross Profit | 1,481,673 | 1,009,306 | 46.80% |
Selling and Distribution Expenses | 54,956 | 24,166 | 127.41% |
Administrative and General Expenses | 270,168 | 237,693 | 13.66% |
Operating Profit | 1,106,302 | 747,447 | 54.73% |
Other Operating income | (50,246) | 168,240 | (129.87%) |
Financial Cost | 649,713 | 949,094 | (31.54%) |
Profit Before Tax | 456,590 | (33,406) | 1466.79% |
Taxation | (206,577) | 35,286 | (685.44%) |
Profit After Tax | 250,012 | 1,880 | 13198.53% |
Earnings Per Share (Rs. /Share) | 7.33 | 0.06 | 12116.67% |
‌Financial Highlights Vertical Analysis
Descriptions | FY2024/25 Rs in "000" | % | FY2023/24 Rs in "000" | % |
Sales - Net | 10,727,499 | 100.00 | 7,996,452 | 100.00 |
Cost of Sales | (9,245,827) | (88.67) | (6,987,145) | (87.37) |
Gross Profit | 1,481,673 | 14.21 | 1,009,306 | 12.62 |
Selling and Distribution Expenses | (54,956) | (0.53) | (24,166) | (0.30) |
Administrative and General Expenses | (270,168) | (2.59) | (237,693) | (2.97) |
Other Operating Income/ (Expenses) | (1,106,302) | (11.09) | 168,240 | 2.10 |
Operating Profit | (50,246) | (0.48) | 747,447 | 9.35 |
Financial Cost | (649,713) | (6.23) | (949,094) | (11.87) |
(Loss)/Profit Before Tax | 456,590 | 4.38 | (33,406) | (0.42) |
Taxation | (206,577) | (1.98) | 35,286 | 0.44 |
Profit After Tax | 250,012 | 2.40 | 1,880 | 0.02 |
‌Future Prospect
Going forward, the industry has entered the crushing year 2025/26 with limited carry-forward stocks, ongoing working capital constraints, higher cost of funds, and continued concerns over yield and sucrose recovery.
For FY 2025/26 sugarcane output is expected to be sustained at strong levels.
In line with its long-term strategic objectives and commitment to operational excellence, the Company has undertaken further Balancing, Modernization, and Replacement (BMR) initiatives for the forthcoming crushing season.
These include the installation of a Falling Film Evaporator (FFE) plant and the addition of a sugar bin for the sugar grader. Both projects are expected to be completed during the next financial year and are anticipated to enhance process efficiency, product handling, and overall operational reliability.
In the years ahead, the Company plans to focus on both corporate and retail segments as part of its marketing strategy.
Furthermore, to diversify revenue streams, efforts are underway to increase the contribution of by-products to the topline.
‌Thank You