SSM L/Acct./0080/2025 May 29, 2025
The Genei al Manager
Pal‹istan Stock Exchange Lim ited Stocl‹ Exchange Bilild ing
Stoc1‹ Exchange Road 1(ai ach i.
CONDENSED INTERIM FINANCIAL RUSULTS
FOR TH E HLAF YEAR ENDED MARCH 31, 2025 (UN-AUDITED)
Vdc v ish to infoi'rn you that the Boar d of Directors of the Corn pany in then' meetilig held on Thursday May 29, 2025, at Cor|ioi ate Office Suite # 222, 2"' Floor', the Forums, G-20, Block -9, Clifton, Karachi, appl'oved the tin-audited financial results of the Company for the half year ended March 31, 2025 and
l'econameiided the follo» ing;
CASH DIVIDEND
BONUS SHARES
RIGHT SHARES
ANY OTHER ENTITLEMENT/CORPORATE ACTION
NIL
NIL
NIL
NIL
) N3' OTHrR PnICr-SENSITIVE INFORMATION
The auditor' has given an adverse opinion on the going concern assumption used in the |r'eparation of the financial statement for the half year ended March 31, 2025
The tinaiiditefl colidensed interims financial results as approved by the
Board of Directors of the
dent p‹iny along with statement of financial position, stateiTlent of changes in equity and statement of
3 he Ha If yeai'ly Repoi't of the Comp any for the |0eriod ending March 3.1, 2025, will be transmitted lh t I P UCA RS s within the specified time.
Corn Jia ii› Secrets l'j
Registered Office: 41-K, Block•6, P.E.C.H.S., Karac/ti-75400, Pakistan. E•mail: admin@sakrandsugar.com Corporate Office: SUife # 222, 7/te Forum, G-20, Bloch-9, C/iffon, Karachi. Phone /fo:+92-2J-3530329f-2
Mill: Deh Tharo Unar Post Office, (Qazi Ahmed) Taluka Sakrand, District Shaheed Benazirabad. Phone loo: 0333-9366997-98
FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2025
Sales - net Cost of sales G i oss pi-ofit
Oye› ntiiig exyeiJses Administrative expenses Selling and distrit›ution cost
OpemtitgproG1/(oss)
OtlJc" cl1ai"hcs
Profit / (loss) befui-e taxation «nd levy
Levy
PmñC(os)LfoitnxnGott
Half year ended Quarter ended
(Restated) (Restated)
March 31, March 31, March 31, March 3 t,
2025 2024 2025 2024
.......................Rupees in '000'.......................
3,550,897 2,592,365 2,158,435 1,512,652
(3,306,096) (2,550,052) (2,057,243) (1,407,539) 244,801 42,313 101,192 105,113
(92,430) | (92,085) | (47,933) | (44,800) | |||
(3,097) | (6,918) | (1,820) | (4,955) |
(95,527) (99,003) (49,753) (49,755) 149,274 (56,690) 51,439 55,358
(13,778) | (27,175) | (760) | (13,715) |
(20,505) | (20,505) | ||
46,831 | 34,145 | 46,639 | 34,145 |
12,547 6,970 25,374 20,430 161,821 (49,720) 76,812 75,788
(42,721) (32,405) (27,001) (18,909) 119,100 (82,125) 49,811 56,879
1.19,100 (82,125) 45,811 56,879
E‹H iiing / (loss) pcl" shai"e
basic and diluted (Rs.) 1..12 1.27
1'r›ci l"s Sincci"ely $
j{'
Com ti ny Secretai 49y
Officer depcited for transmitting tlte information to the Exchange Name : MuliainiTiad 1inran Akber : Phone 02 I -35303291 -'?2 Email : skrscs@sakrandsugar.com
Registered Office: 41-K, Bloch•6, P.E.C.H.S., Karachi-75400, Pakistan. E•mail: admin@sahrandsugarcom
Corporate Office: Suite # 222, The Forum, G-20, Block-9, C/ifton, Karachi. Phone to:+92-2f-J530329f-2
Mill: Deh Tharo Unar Posf Office, {Oazi Ahmed) Taluka Sakrand, District Shaheed Benazirabad. Phone to: 0343-936649F-98
Condensed Interim Statement of Financial Position As at March 31, 2025
Note
(Un-Audited) (Audited) March 31, September 30,
2025 2024
…….Rupees in '000' .…….
Assets | |||
Non-current assets | |||
Property, plant and equipment | 3,901,705 | 3,889,804 | |
Intangible asset | 846 | 1,014 | |
Long-term loans | 682 | 849 | |
Long-term deposits | 2,860 | 2,860 | |
3,906,093 | 3,894,527 | ||
Current assets | |||
Store, spares and loose tools | 117,898 | 98,558 | |
Stock-in-trade | 305,745 | 37,814 | |
Trade debts | 7,246 | 4,762 | |
Loans and advances | 27,948 | 67,961 | |
Deposits, prepayments and other receivables | 9,634 | 63,239 | |
Short term investment | 6,198 | 6,198 | |
Cash and bank balances | 33,354 | 49,450 | |
508,023 | 327,982 | ||
Total assets | 4,414,116 | 4,222,509 | |
Equity and liabilities | |||
Share capital and reserves Authorized share capital | 600,000 | 600,000 | |
Issued, subscribed and paid-up share capital | 446,160 | 446,160 | |
Accumulated loss | (1,746,466) | (1,883,598) | |
Surplus on revaluation of property, plant | |||
and equipment-net of deferred tax | 2,077,250 | 2,095,281 | |
Directors' / sponsors' subordinated loan | 92,767 | 92,767 | |
869,710 | 750,610 | ||
Non-current liabilities | |||
Long term financing - secured | 607,273 | 640,873 | |
Deferred liabilities | 71,894 | 70,282 | |
679,167 | 711,155 | ||
Current liabilities | |||
Trade and other payables | 2,060,255 | 1,968,774 | |
Unclaimed dividend | 6,206 | 6,206 | |
Accrued mark-up | 503,636 | 499,644 | |
Current maturity of long-term financing | 239,418 | 244,818 | |
Tax payable - net | 55,724 | 41,303 | |
2,865,239 | 2,760,744 | ||
Contingencies and commitments | |||
Total equity and liabilities | 4,414,116 | 4,222,509 | |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.
Chief Executive Officer Chief Financial Officer Director Condensed Interim Statement of Other Comprehensive Income For the half year ended March 31, 2025 (Un-Audited)
Half year ended Quarter ended
March 31, | March 31, | March 31, | March 31, | |
2025 | 2024 | 2025 | 2024 |
….................Rupees in '000'…................
Profit / (loss) after taxation 119,100 (82,125) 49,811 56,879 Other comprehensive income for the period - - - -Total comprehensive income / (loss)
for the period 119,100 (82,125) 49,811 56,879 The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.Chief Executive Officer Chief Financial Officer Director
Condensed Interim Statement of Changes in Equity For the half year ended March 31, 2025 (Un-Audited)
Issued, subscribed & paid-up share capital | Accumulated loss | Surplus on revaluation of property, plant and equipment | Directors' / sponsors' subordinated loan | Total |
……………………... Rupees in '000'………………………
Balance as at October 01, 2023 | 446,160 | (1,672,931) | 2,131,205 | 92,767 | 997,201 |
Loss after taxation | - | (82,125) | - | - | (82,125) |
Other comprehensive income / (loss) for the period | - | - | - | - | - |
Total comprehensive loss for the period | - | (82,125) | - | - | (82,125) |
Transferred from revaluation surplus on property, plant and equipment | |||||
on account of incremental depreciation- net of tax | - | 18,100 | (18,100) | - | - |
Balance as at March 31, 2024 | 446,160 | (1,736,956) | 2,113,105 | 92,767 | 915,076 |
Balance as at October 01, 2024 | 446,160 | (1,883,598) | 2,095,281 | 92,767 | 750,610 |
Profit after taxation | - | 119,100 | - | - | 119,100 |
Other comprehensive income / (loss) for the period | - | - | - | - | - |
Total comprehensive profit for the period | - | 119,100 | - | - | 119,100 |
Transferred from revaluation surplus on property, plant and equipment | |||||
on account of incremental depreciation - net of tax | - | 18,031 | (18,031) | - | - |
Balance as at March 31, 2025 | 446,160 | (1,746,467) | 2,077,250 | 92,767 | 869,710 |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.
Chief Executive Officer Chief Financial Officer Director
Condensed Interim Statement of Cash Flows For the half year ended March 31, 2025 (Un-Audited)Note | March 31, 2025 . Rupees | i | March 31, 2024 n '000'…..... | |
Cash flows from operating activities | ||||
Profit / (loss) before taxation & levy | 161,822 | (49,720) | ||
Adjustments for non-cash items : | ||||
Depreciation | 42,409 | 40,022 | ||
Amortization | 168 | 250 | ||
Reversal of provision for doubtful debt | (46,500) | (33,986) | ||
Gratuity Provision | 1,611 | 779 | ||
Finance cost | 13,778 | 22,020 | ||
Loss / (gain) on sale of fixed assets | 8 | (159) | ||
Operating profit before working capital changes | 11,474 | 28,926 | ||
Changes in working capital | ||||
(Increase) / decrease in current assets | ||||
Stores, spares and loose tools | (19,340) | (7,383) | ||
Stock-in-trade | (267,931) | (706,570) | ||
Trade debts | 44,016 | 33,363 | ||
Loans and advances | 40,013 | (24,692) | ||
Prepayments and other receivables | 53,605 | 2,886 | ||
(149,638) | (702,396) | |||
Increase in current liabilities | ||||
Trade and other payables | 91,481 | 759,120 | ||
Cash generated from operations | 115,139 | 35,929 | ||
Taxes paid | (28,301) | (3,626) | ||
Finance cost paid | (9,783) | - | ||
Net cash generated from operating activities | 77,055 | 32,303 | ||
Cash flows from investing activities | ||||
Purchase of property, plant and equipment | (54,333) | (23,213) | ||
Sales proceeds from disposal of property, plant and equipment | 15 | 515 | ||
Proceeds from short term investment | - | 10,000 | ||
Net cash used in investing activities | (54,318) | (12,698) | ||
Cash flows from financing activities | ||||
Long term financing - repaid | (39,000) | (11,000) | ||
Long term loans to employees | 167 | - | ||
Net cash used in financing activities | (38,833) | (11,000) | ||
Net (decrease) / increase in cash and cash equivalents | (16,096) | 8,605 | ||
Cash and cash equivalents at the beginning of the period | 55,648 | 5,611 | ||
Cash and cash equivalents at the end of the period | 39,552 | 14,216 |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.
Chief Executive Officer Chief Financial Officer Director