COMPANY PROFILE | ||
BOARD OF DIRECTORS | Mr. Saleem Zamindar | Chairman / Director |
Mr. Dinshaw H. Anklesaria | Director | |
Mr. Mansoor Afzal Subzwari | Director | |
Mrs. Sadia Moin | Director | |
Mr. Muhammad Saleem Mangrio | Director | |
Mr. Abdul Qayyum Khan Abbasi | Director | |
Mr. Muhammad Omar Arshid | Director | |
AUDIT COMMITTEE | Miss. Sadia Moin | Chairperson |
Mr. Saleem Zamindar | Member | |
Mr. Muhammad Omar Arshid | Member | |
HR COMMITEE | Mr. Abdul Qayyum Khan Abbasi | Chairman |
Mr. Muhammad Omar Arshid Mr. Mansoor Afzal Subzwari | Member Member | |
CHIEF EXECUTIVE OFFICER | Mr. Mansoor Afzal Subzwari | |
CHIEF FINANCIAL OFFICER | Mr. Syed Zameer Haider Jaffri | |
COMPANY SECRETARY | Mr. Muhammad Imran Akber | |
BANKERS | Bank Al Habib Limited | |
Bank Alfalah Limited | ||
Habib Bank Limited | ||
Meezan Bank Limited | ||
MCB Bank Limited | ||
National Bank Of Pakistan | ||
Soneri Bank Limited | ||
Sindh Bank Limited | ||
Summit Bank Limited | ||
United Bank Limited |
AUDITORS Parker Russell-A.J.S. Chartered Accountants
LEGAL ADVISOR Mr. Muhammad Jameel Chaudhary
REGISTRAR M/s JWAFFS Registrar Services (Pvt.) Ltd.
Office No. 20, 5th Floor, Arky Square Extension New Chali Road, Saddar,
Karachi-74400
REGISTERED OFFICE 41-K, Block-6, P.E.C.H.S., Karachi
Phone. 0092-21-35303291-2
https://www.sakrandsugar.com
FACTORY ADDRESS Deh Tharo Unar,Taluka Sakrand District Shaheed Benazir Abad, Sindh.
Directors' Report to Members
On behalf of the Board, we are pleased to present the un-audited Condensed Interim Financial statements of the Company for the period ended December 31, 2025.
Operational ResultThe operational performance for the period under review as compared with that of last year is tabulated hereunder.
Season | |
2025-26 | 2024-25 |
Start of Season Operational Days | Dec 01, 2025 22 | Nov 21, 2024 41 | |
Sugarcane crushed | M. Tons | 62,503 | 132,463 |
Average Per / day | M. Tons | 2,841 | 3,230 |
Production Sugar | M. Tons | 5,969 | 12,415 |
Molasses | M. Tons | 3,008 | 6,240 |
Recovery Sugar | % | 9.551 | 9.372 |
Molasses | % | 4.814 | 4.711 |
During the current crushing period, the Company crushed 62,503 metric tons of sugarcane, compared to 132,463 metric tons crushed in the previous period. Sugar production for the period stood at 5,969 metric tons with a recovery rate of 9.551%, whereas the corresponding period last year yielded 12,415 metric tons of sugar at a recovery rate of 9.372%. The average daily crushing rate was 2,841 metric tons, lower than the 3,230 metric tons per day achieved in the comparable period. However, despite fewer crushing days and a reduction in average daily throughput, the Company recorded an improvement in recovery of 0.179% over the corresponding period.
Financial ResultThe Financial Result for the period under review is tabulated hereunder.
Rupees in Millions | ||
Oct - Dec | Oct - Dec | |
2025 | 2024 | |
Sales - net | 323.00 | 1,392.46 |
Gross profit | 13.87 | 157.30 |
Profit before taxation | 6.77 | 98.70 |
Profit after taxation | 2.72 | 82.98 |
Earnings per Share Rs. | 0.06 | 1.86 |
The sugar season commenced later than the anticipated ideal timeline, which posed initial operational challenges for the industry. At the start of the season, sugar prices showed a downward trend, while cane procurement prices increased, despite a marginal improvement in the Company's sugar recovery rate. During the period under review, the Company recorded a profit of Rs. 2.72 million, compared to a profit of Rs. 82.98 million in the corresponding period last year. Although local sugar sales price declined during the period.The Company was able to achieve net profit during the period primarily due to management's concerted efforts to procure sugarcane at competitive and optimal rates, while maintaining strict control over production costs. In these circumstances, the Company made every effort to perform effectively, and remains confident that it will deliver improved results by the end of the crushing season.
AcknowledgementThe Directors would like to thank all the government functionaries, banking and financial institutions, suppliers and shareholders for their continued support and cooperation for the betterment and prosperity of the Company.
On behalf of the Board of DirectorsChairman / Director Chief Executive Officer Karachi
January 30, 2026
ٹروپر یک زرٹکيرئاڈ۔ںيہ تمدخ شيپ 2025 ربمسد 31 یہام ہس ےئارب تاباسح یتايلام هدش ٹڈآريغ ےک ینپمک ،ےس بناج یک زرٹکيرئاڈ فآ ڈروب
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Season | |
2025-26 | 2024-25 |
Start of Season Operational Days | Dec 01, 2025 22 | Nov 21, 2024 41 | |
Sugarcane crushed | M. Tons | 62,503 | 132,463 |
Average Per/Day | M. Tons | 2,841 | 3,230 |
Sugar | M. Tons | 5,969 | 12,415 |
Molasses Recovery Sugar | % | 3,008 9.372 | 6,240 9.372 |
Molasses | % | 4.814 | 4.711 |
ےصرع سا ۔اهت ايگ ايک شرک انگ نٹ کرٹيم 132,463 ںيم تدم ہتشزگ ہکبج ،ايک شرک انگ نٹ کرٹيم 62,503 ےن ینپمک نارود ےک تدم گنشرک هدوجوم نٹ کرٹيم 12,415 ںيم ےصرع یسا ےک لاس ہتشزگ ہکبج ،یہر %9.551 حرش یروکير یک سج ،یہر نٹ کرٹيم 5,969 راواديپ یک ینيچ نارود ےک
ںيم ےصرع یسا ےک لاس ہتشزگ ہک وج ،یہر نٹ کرٹيم 2,841 راتفر یک گنشرک ہيموي طسوا ۔یهت %9.372 حرش یروکير روا یهت یئوہ اديپ ینيچ ےک لاس ہتشزگ ےن ینپمک ،دوجواب ےک یمک ںيم گنشرک ہيموي طسوا روا یمک ںيم ںوند ےک گنشرک ،مہات ۔یهت مک ےس ہيموي نٹ کرٹيم 3,230 هدرک لصاح
۔یک ڈراکير یرتہب یک %0.179 ںيم یروکير ںيم ےلباقم ےک ےصرع یسا
B', hy¸⁄. ƀƗ¸ hy¸ 'hc۔ےہ ليذ ہجردنم ہنزاوم رصتخم ےس تدم یک لاس ہتشزگ اک جئاتن یتايلام ےک تدم ه زئ اج ريز
ےک نزيس ۔اڑپ انرک انماس اک زجنليچ ےک تيعون یلمع رپ روط یئادتبا وک تعنص ثعاب ےک سج ،اوہ ےس ريخات ےس لوڈيش یلاثم عقوتم زاغآ اک نزيس رگوش ںيم حرش یک یروکير رگوش یک ینپمک ہکنﻻاح ،اوہ ہفاضا ںيم ںوتميق یک یراديرخ یک ےنگ ہکبج ،ايگ اهکيد ناحجر اک یمک ںيم ںوتميق یک ینيچ رپ زاغآ نيلم 82.98 عفانم ںيم ےصرع یسا ےک لاس ہتشزگ ہکبج ،ايک لصاح عفانم اک ےپور نيلم 2.73 ےن ینپمک نارود ےک تدم هزئاج رِيز ۔یئآ یرتہب یلومعم
تدم سا ینپمک ثعاب ےک ںوششوک رثؤم روا طوبرم یک ہيماظتنا مہات ،یئوہ عقاو یمک ںيم تخورف تِميق یک ینيچ یماقم نارود ےک تدم سا ہچرگا ۔اهت ےپور تخس رپ تاجارخا یراواديپ روا یراديرخ یک ےنگ رپ ںوخرن ںوزوم روا یتقباسم ہجو یداينب یک سج ،یہر بايماک ںيم ےنرک لصاح عفانم صلاخ ںيم
کت ماتتخا ےک نزيس گنشرک ہک ےہ نيقي ےسا روا ںيک ںيششوک روپرهب ےيل ےک ےنانب رثؤم وک یگدرکراک ینپا ےن ینپمک ،دوجواب ےک تﻻاح نا ۔اہر لورٹنک ےگ ںيئاج ےيک لصاح جئاتن رتہب
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CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
Un-audited Audited December 31, September 30,
2025 2025
……….Rupees in '000'……….
ASSETS Non-Current Assets | ||
Property, plant and equipment | 3,869,491 | 3,886,561 |
Intangible asset | 623 | 680 |
Long-term loans | 670 | 775 |
Long-term deposits | 2,860 | 2,860 |
3,873,643 | 3,890,876 | |
Current Assets | ||
Stores, spares and loose tools | 114,209 | 110,079 |
Stock-in-trade | 503,500 | 41,764 |
Trade debts | 15,669 | 19,285 |
Loans and advances | 26,185 | 27,179 |
Deposit, prepayments and other receivables | 15,642 | 10,234 |
Short term investment | - | 6,198 |
Cash and bank balances | 96,861 | 18,214 |
772,065 | 232,953 | |
Total Assets | 4,645,708 | 4,123,829 |
EQUITY AND LIABILITIES | ||
Share Capital and Reserves | ||
Authorized share capital 60,000,000 ordinary shares of Rs. 10 each | 600,000 | 600,000 |
Share capital | ||
Issued, subscribed and paid-up capital | 446,160 | 446,160 |
Revenue reserves Accumulated loss | (1,852,274) | (1,863,786) |
Capital reserves Surplus on revaluation of property, plant and | ||
equipment-net of deferred tax | 2,050,693 | 2,059,481 |
Directors'/Sponsors' subordinated loan | 92,767 | 92,767 |
737,346 | 734,622 | |
Non-Current Liabilities | ||
Long term financing - secured | 552,673 | 573,673 |
Deferred liabilities | 72,100 | 70,692 |
624,773 | 644,365 | |
Current Liabilities | ||
Trade and other payables | 2,459,495 | 1,931,258 |
Unclaimed dividend | 6,206 | 6,206 |
Accrued mark-up | 504,970 | 504,901 |
Current maturity of long-term financing | 253,218 | 249,018 |
Taxation - net | 59,700 | 53,459 |
3,283,589 | 2,744,842 | |
Total Equity and Liabilities | 4,645,708 | 4,123,829 |
The annexed notes form an integral part of these financial statements. | ||
Chief Executive Officer
Chief Financial O
Director
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT FOR THE 1ST QUARTER ENDED DECEMBER 31, 2025 Un-audited Un-auditedDecember 31, December 31,
2025 2024
…….Rupees in '000'…......
Sales - net | 323,001 | 1,392,461 | |
Cost of sales | (309,127) | (1,235,162) | |
Gross profit | 13,874 | 157,299 | |
Operating expenses | |||
Administrative expenses | (35,450) | (44,497) | |
Selling and distribution cost | (423) | (1,277) | |
(35,873) | (45,774) | ||
Operating (loss) / profit | (21,999) | 111,526 | |
Finance cost | (81) | (13,018) | |
Other income | 28,848 | 192 | |
28,767 | (12,826) | ||
Profit before taxation | 6,768 | 98,699 | |
Taxation-net | (4,044) | (15,720) | |
Profit after taxation | 2,724 | 82,980 | |
Earning per share - Basic and diluted | 0.06 | 1.86 | |
The annexed notes form an integral part of these financial statements. |
Chief Executive Officer Chief Financial Officer Director
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE 1ST QUARTER ENDED DECEMBER 31, 2025
Un-audited Un-audited December 31, December 31,
2025 2024
….Rupees in '000'……
Profit after taxation | 2,724 | 82,980 | |
Other comprehensive income for the period - net of tax | - | - | |
Total comprehensive income for the period | 2,724 | 82,980 | |
The annexed notes form an integral part of these financial statements. |
Chief Executive Officer Chief Financial Officer Director
CONDENSED INTERIM STATEMENT OF CASH FLOWS FOR THE 1ST QUARTER ENDED DECEMBER 31, 2025
Un-audited Un-audited
December 31, December 31,
2025 2024
……….Rupees in '000'……….
A. CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation 6,768 98,699
Adjustments for non cash charges and other items :
20,843 | 20,332 |
56 | 84 |
69 | 9,876 |
- | 308 |
866 | 8 |
Depreciation Amortisation Finance cost Provision for gratuity
(Gain) / loss on sale of fixed assets
Cash generated from operation before working capital changes Working capital changes | 21,833 | 30,608 |
(Increase) / decrease in current assets | ||
Stores, spares and loose tools | (4,130) | (23,354) |
Stock-in-trade | (461,737) | (298,920) |
Trade debts | 3,617 | (35,780) |
Loans and advances | 994 | 17,176 |
Prepayments and other receivables | 156 | 17,105 |
Increase / (decrease) in current liabilities | (461,100) | (323,773) |
Trade and other payables | 532,092 | 262,995 |
Cash generated from operations | 99,594 | 68,529 |
Taxes paid | (247) | (14,106) |
Finance cost paid | - | - |
Net cash generated from operating activities | 99,347 | 54,423 |
B. CASH FLOWS FROM INVESTING ACTIVITIES | ||
Property, plant and equipment | (10,224) | (26,071) |
Proceed from disposal of property, plant and equipment | 21 | 15 |
Short term investment | 6,198 | - |
Net cash used in investing activities | (4,006) | (26,056) |
C. CASH FLOWS FROM FINANCING ACTIVITIES | ||
Long term financing - secured | (16,800) | (27,000) |
Long term loans to employees | 106 | 91 |
Net cash used in financing activities | (16,694) | (26,909) |
Net increase in cash and cash equivalents | 78,646 | 1,458 |
Cash and cash equivalents at the beginning of the period | 18,214 | 55,647 |
Cash and cash equivalents at the end of the period | 96,861 | 57,105 |
The annexed notes form an integral part of these financial statements. |
Chief Executive Officer
Chief Financial Officer
Director
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE 1ST QUARTER ENDED DECEMBER 31, 2025
(UN-AUDITED)
Issued, subscribed & paid-up capital | Un-appropriated profit / Accumulated loss | Surplus on revaluation of property, plant and equipment | Directors' / sponsors' subordinated loan | Total |
…………………………..….Rupees in '000'…………………………..….
Balance as at October 01, 2024 | 446,160 | (1,883,598) | 2,095,281 | 92,767 | 750,610 |
Profit after taxation | - | 82,980 | - | - | 82,980 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income for the period | - | 82,980 | - | - | 82,980 |
Transferred from revaluation surplus on property, plant and equipment on account of incremental depreciation- net of tax | - | 8,783 | (8,783) | - | - |
Balance as at December 31, 2024 | 446,160 | (1,791,835) | 2,086,498 | 92,767 | 833,589 |
Balance as at October 01, 2025 | 446,160 | (1,863,787) | 2,059,482 | 92,767 | 734,622 |
Profit after taxation | - | 2,724 | - | - | 2,724 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income for the period | - | 2,724 | - | - | 2,724 |
Transferred from revaluation surplus on property, plant and equipment on account of incremental depreciation- net of tax | - | 8,789 | (8,789) | - | - |
Balance as at December 31, 2025 | 446,160 | (1,852,274) | 2,050,693 | 92,767 | 737,346 |
The annexed notes form an integral part of these financial statements. |
CONDENSED NOTES TO THE FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED DECEMBER 31, 2025
These financial statements are unaudited and are being submitted to the shareholders as required by the Securities and Exchange Commission of Pakistan.
These financial statements have been prepared in compliance with the requirements of International Accounting Standards-34 "Interim financial reporting" as adopted by the Institute of Chartered Accountants of Pakistan which are applicable to the Company.
The accounting policies and method of computation allowed for the preparation of these accounts are same as those applied in the preparation of the preceding annual accounts of the Company for the year ended September 30, 2025.
These condensed interim financial information have been authorized for issue on January 30, 2026 by the Board of Directors of the Company.
Figures have been rounded off to the nearest thousand rupees.
Chief Executive Officer Chief Financial Officer Director