COMPANY PROFILE | ||
BOARD OF DIRECTORS | Mr. Saleem Zamindar | Chairman / Director |
Mr. Dinshaw H. Anklesaria | Director | |
Mr. Shams Ghani | Director | |
Miss. 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 Saleem Mangrio | Member | |
HR COMMITEE | Mr. Abdul Qayyum Khan Abbasi | Chairman |
Mr. Muhammad Omar Arshid Mr. Shams Ghani | 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 Chudhary
REGISTRAR M/s JWAFFS Registrar Services (Pvt.) Ltd.
Office # 20, 5th Floor, Arkay Square Extension, New Chali Shahrah-e-Liaquat, Karachi,
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 quarter ended June 30, 2025.
Operational ResultThe operational performance for the period under review as compared with that of last year is tabulated hereunder.
Season | |
2024-25 | 2023-24 |
Start of Season Operational Days | Nov 21, 2024 85 | Nov 06, 2023 98 | |
Sugarcane crushed | M. Tons | 289,400 | 257,489 |
Average Per / day | M. Tons | 3,405 | 2,627 |
Production Sugar | M. Tons | 27,994 | 26,269 |
Molasses | M. Tons | 13,470 | 13,590 |
Recovery Sugar | % | 9.819 | 10.202 |
Molasses | % | 4.669 | 5.278 |
During the current crushing season, your Company successfully crushed 289,400 metric tons of sugarcane, showing an improvement over 257,489 metric tons crushed in the previous period. The average daily crushing capacity also increased to 2,756 metric tons, up from 3,405 metric tons per day last year. This resulted in sugar production of 27,994 metric tons at a recovery rate of 9.819%, compared to 26,269 metric tons produced at a recovery rate of 10.202% in the preceding season. The decline in recovery was primarily attributable to the poor quality of sugarcane received during the period.
Financial ResultThe Financial Result for the period under review is tabulated hereunder.
Rupees in Millions | ||
Oct - June | Oct - June | |
2025 | 2024 | |
Sales - net | 3,759.70 | 2,985.49 |
Gross profit | 209.99 | 3.25 |
Profit / (loss) before taxation | 123.26 | (64.28) |
Profit / (loss) after taxation | 77.91 | (101.61) |
Earnings / (Loss) per Share Rs. | 1.75 | (2.28) |
During the review period (October 2024 to June 2025), the Company successfully exported its allocated government sugar quota, which played a key role in supporting the overall profitability and contributing to a positive bottom line.
The Company recorded net sales of Rs. 3,759.70 million for the period, representing a 26% increase from Rs. 2,985.49 million in the same period last year. Gross profit increased substantially to Rs. 209.99 million, up from Rs.
3.25 million in the previous year. Profit before taxation reached Rs. 123.26 million, reflecting a strong recovery from a loss of Rs. 64.28 million recorded in the prior period. Consequently, earnings per share improved to Rs. 1.75, compared to a negative Rs. 2.28 previously.
In light of the de-regulation policy for the sugar industry for the ongoing crushing season 2024-25, the Provincial Governments did not announce any minimum support price for sugarcane, leaving pricing to be determined by market dynamics. Consequently, the Company procured sugarcane at prevailing market rates and offered competitive prices to cane growers.
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
July 29, 2025
ٹروپر ﯽﮐ زرٹکيرئاڈ
۔ںيہ ﺖﻣﺪﺧ شيپ 2025 نوج 30 ﯽہﺎﻣ ہس ےئارب تﺎبﺎسح ﯽتﺎيلﺎﻣ هﺪش ٹڈآريغ ےﮐ ﯽﻨﭙﻤﮐ ،ےس ﺐﻧﺎج ﯽﮐ زرٹکيرئاڈ فآ ڈروب
B', hy¸⁄. Ǵy. ɤpr3¸ ¸r"۔ےہ ليذ ہجردنم ہنزاوم رصتخم ےس تدم یک لاس ہتشزگ اک یگدرکراک لنشيرپآ یک تدم ه زئ اج ريز
Season | |
2024-25 | 2023-24 |
Start of Season Operational Days | Nov 21, 2024 85 | Nov 06, 2023 98 | |
Sugarcane crushed | M. Tons | 289,400 | 257,489 |
Average Per/Day | M. Tons | 3,405 | 2,627 |
Sugar | M. Tons | 27,994 | 26,269 |
Molasses Recovery Sugar | % | 13,470 9.372 | 13,590 10.202 |
Molasses | % | 4.669 | 5.278 |
ےﮐ نٹ کرٹيﻣ 257,489 ےﮐ نزيس ےلهچپ وج ،ﺎيﮐ شرﮐ ﺎﻨﮔ نٹ کرٹيﻣ 289,400 هتﺎس ےﮐ ﯽبﺎيﻣﺎﮐ ےﻧ ﯽﻨﭙﻤﮐ ﯽﮐ پآ ،نارود ےﮐ نزيس ﮓﻨشرﮐ هدوجوﻣ ۔ﯽهت نٹ کرٹيﻣ 2,627 لﺎس ہتشزﮔ وج ،ﯽﺌﮔ وہ ند ﯽﻓ نٹ کرٹيﻣ 3,405 رﮐ هڑب ﯽهب ﺖيحﻼص ﯽﮐ ﮓﻨشرﮐ طسوا ہيﻣوي ۔ےہ ﺎترﮐ رہﺎظ وﮐ یرتہب ںيﻣ ےلبﺎﻘﻣ یروکير ﺪصيﻓ 10.202 ںيﻣ نزيس ہتشزﮔ ہکبج ،ﯽہر ﺪصيﻓ 9.819 حرش یروکير ﯽﮐ ﺲج ﯽﮐ اﺪيپ ﯽﻨيچ نٹ کرٹيﻣ 27,994 ےﻧ ﯽﻨﭙﻤﮐ ںيﻣ ےجيتﻧ ےﮐ سا
ﺎهت ﺎﻧوہ بارﺧ ﺎﮐ رﺎيعﻣ ےﮐ ےﻨﮔ ےلاو ےﻧوہ لوصوﻣ ہجو یدﺎيﻨب ﯽﮐ ﯽﻤﮐ ںيﻣ یروکير ۔ﯽهت ﯽﺌﮔ ﯽﮐ رﺎيت ﯽﻨيچ نٹ کرٹيﻣ 26,269 هتﺎس ےﮐ
B', hy¸⁄. ƀƗ¸ hy¸ 'hc۔ےہ ليذ ہجردنم ہنزاوم رصتخم ےس تدم یک لاس ہتشزگ اک جئاتن یتايلام ےک تدم ه زئ اج ريز
Rupees in Millions | ||
Oct - June | Oct - June | |
2025 | 2024 | |
Sales - net | 3,759.70 | 2,985.49 |
Gross profit / (loss) | 209.99 | 3.25 |
Profit / (loss) before taxation | 123.26 | (64.28) |
Profit / (loss) after taxation | 77.91 | (101.61) |
Earnings / (Loss) per Share Rs. | 1.75 | (2.28) |
،ﺎيﮐ ﺪﻣآرب ےس ﯽبﺎيﻣﺎﮐ ہٹوﮐ یﺪﻣآرب ﯽﮐ ﯽﻨيچ ﯽﺌﮔ ﯽﮐ ﺺتﺨﻣ ےس ﺐﻧﺎج ﯽﮐ ﺖﻣوکح ےﻧ ﯽﻨﭙﻤﮐ ،نارود ےﮐ (2025 نوج ےس 2024 ربوتﮐا) تﺪﻣ هﺪش هزئﺎج ۔ﺎيﮐ ادا رادرﮐ مہا ںيﻣ ےﻧرﮐ ﻞصﺎح ﺞئﺎتﻧ ﯽلﺎﻣ ﺖبﺜﻣ روا یرتہب ںيﻣ ﻊﻓﺎﻨﻣ ﯽﻋوﻤجﻣ ےﻧ ﺲج
ےﮐ ﺖﺧورﻓ ﯽﮐ ےپور نيلﻣ 2,985.49 ﯽﮐ ےصرﻋ ﯽسا ےﮐ لﺎس ہتشزﮔ ہﮐ وج ،ﯽہر ےپور نيلﻣ 3,759.70 ﺖﺧورﻓ ﯽﮐ ﯽﻨﭙﻤﮐ نارود ےﮐ ےصرﻋ سا زا ﻞبﻗ ۔ﺎهت ےپور نيلﻣ 3.25 ﺾﺤﻣ لﺎس ےلهچپ ہﮐ وج ،ﺎيﮔ وہ ےپور نيلﻣ 209.99 رﮐ هڑب رپ روط ںﺎيﺎﻤﻧ ﻊﻓﺎﻨﻣ ﯽﻋوﻤجﻣ ۔ےہ هدﺎيز ﺪصيﻓ 26 ںيﻣ ےلبﺎﻘﻣ ﯽﻧﺪﻣآ ﺺصح ﯽﻓ ،ﺎًتجيتﻧ ۔ےہ ﺎترﮐ رہﺎظ وﮐ یرتہب ںﺎيﺎﻤﻧ ےس نﺎصﻘﻧ ےﮐ ےپور نيلﻣ 64.28 ےﮐ تﺪﻣ ہتشزﮔ ہﮐ وج ،ﺎہر ےپور نيلﻣ 123.26 ﻊﻓﺎﻨﻣ ﺲکيٹ
۔ﯽﺌﮔ وہ ےپور 1.75 رﮐ هڑب ےس ےپور 2.28 ﯽفﻨﻣ
مﮐ زا مﮐ ﯽﮐ ےﻨﮔ ےﻧ ںوتﻣوکح ﯽئﺎبوص ،ﺖﺤت ےﮐ ﯽسيلﺎپ نشيلوگير یڈ ﯽﺌﮔ ﯽﮐ ﺬﻓﺎﻧ نارود ےﮐ 2025-2024 نزيس ﮓﻨشرﮐ ےيل ےﮐ ﺖعﻨص ﯽﮐ ﯽﻨيچ روا اﺪيرﺧ رپ ﺲٹير ٹيﮐرﺎﻣ هدوجوﻣ ﺎﻨﮔ ےﻧ ﯽﻨﭙﻤﮐ ،ںيﻣ ےجيتﻧ ےﮐ سا ۔ﺎيد ڑوهچ رپ تﺎﻧﺎﺤجر ےﮐ ٹيﮐرﺎﻣ نيعت ﺎﮐ ںوتﻤيﻗ روا ﺎيﮐ ںيہﻧ نﻼﻋا ﺎﮐ ﺖﻤيﻗ یداﺪﻣا
۔ںيﮐ ادا ںيتﻤيﻗ ﯽتﻘبﺎسﻣ وﮐ ںورﺎکتشﺎﮐ
3'c; '¸ ph̛þ. lےﻧ ںوہﻨج ہﮐ ںيہ ےترﮐ ادا ہيرکش ےس لد ہہت ﺎﮐ ںوراد ےتﺎهﮐ روا زرﻨٹرﺎپ ﺲﻧزب ،ںورادا ﯽتﺎيلﺎﻣ روا کﻨيب ،ںورادا ےﮐ ٹﻨﻤﻧروﮔ مﺎﻤت زرٹکيرئاڈ ےﮐ ﯽﻨﭙﻤﮐ ۔ﺎيد هتﺎس ﺎﮐ ﯽﻨﭙﻤﮐ ےيل ےﮐ دﺎفﻣ نيرتہب ےﮐ ﯽﻨﭙﻤﮐ
Ň⁄. hc. '. ⁄نl¸~. -' ڈp3.Ɠ
ڈٹيمل زلم رگوش ڈنرکس
وٹکيزگيا فيچ ŕ~p'y¸3r, lڈ/yr¸vŕ~¸ , ׸
2025ƀƗ, J3‹. 29:Ɓ'¸l3'
Condensed Interim Statement of Financial Position As at June 30, 2025 | ||
(Un-Audited) | (Audited) | |
June 30, | September 30, | |
2025 | 2024 | |
……….Rupees in '000'………. | ||
ASSETS | ||
Non-Current Assets | ||
Property, plant and equipment | 3,887,138 | 3,889,804 |
Intangible asset | 763 | 1,014 |
Long-term loans | 613 | 849 |
Long-term deposits | 2,860 | 2,860 |
3,891,374 | 3,894,527 | |
Current Assets | ||
Stores, spares and loose tools | 113,726 | 98,558 |
Stock-in-trade | 123,109 | 37,814 |
Trade debts | 3,238 | 4,762 |
Loans and advances | 21,845 | 67,961 |
Deposit, prepayments and other receivables | 6,855 | 63,239 |
Short term investment | 6,198 | 6,198 |
Cash and bank balances | 15,828 | 49,450 |
290,798 | 327,982 | |
Total Assets | 4,182,172 | 4,222,509 |
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 | (1,778,739) | (1,883,598) |
Capital reserves Surplus on revaluation of property, plant and | ||
equipment-net of deferred tax | 2,068,334 | 2,095,281 |
Directors'/Sponsors' subordinated loan | 92,767 | 92,767 |
828,521 | 750,610 | |
Non-Current Liabilities | ||
Long term financing - secured | 590,473 | 640,873 |
Deferred liabilities | 71,894 | 70,282 |
662,367 | 711,155 | |
Current Liabilities | ||
Trade and other payables | 1,876,100 | 1,968,774 |
Unclaimed dividend | 6,206 | 6,206 |
Accrued mark-up | 507,460 | 499,644 |
Current maturity of long-term financing | 244,218 | 244,818 |
Taxation - net | 57,300 | 41,303 |
2,691,283 | 2,760,744 | |
Total Equity and Liabilities | 4,182,172 | 4,222,509 |
The annexed notes form an integral part of these financial statements. | ||
Chief Executive Officer
Chief Financial Officer
Director
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT FOR THE NINE MONTHS AND QUARTER ENDED JUNE 30, 2025 (UN-AUDITED)
Nine months ended Quarter ended
(Restated) | (Restated) | ||
June 30, | June 30, | June 30, | June 30, |
2025 | 2024 | 2025 | 2024 |
……………….…………Rupees in '000'……………………………
Sales - net | 3,759,703 | 2,985,489 | 208,806 | 393,124 | |||
Cost of sales | (3,549,716) | (2,982,244) | (243,620) | (432,191) | |||
Gross profit / (loss) | 209,987 | 3,245 | (34,814) | (39,067) | |||
Operating expenses | |||||||
Administrative expenses | (125,556) | (126,780) | (33,126) | (34,695) | |||
Selling and distribution cost | (3,286) | (7,059) | (189) | (141) | |||
(128,843) | (133,839) | (33,315) | (34,836) | ||||
Operating profit / (loss) | 81,144 | (130,594) | (68,129) | (73,903) | |||
Finance cost | (21,587) | (40,352) | (7,808) | (13,177) | |||
Other Charges | (20,505) | - | - | - | |||
Other income | 84,212 | 106,665 | 37,381 | 72,520 | |||
42,120 | 66,313 | 29,573 | 59,343 | ||||
Profit / (Loss) before taxation & levy | 123,264 | (64,281) | (38,557) | (14,560) | |||
Levy | (45,353) | (37,333) | (2,632) | (4,929) | |||
Profit / (Loss) before taxation | 77,911 | (101,614) | (41,189) | (19,489) | |||
Taxation - net | - | - | - | - |
77,911 | (101,614) | (41,189) | (19,489) | |||
1.75 | (2.28) | (0.92) | (0.44) |
Profit / (Loss) after taxation
Earning / (Loss) per share -Basic and diluted
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 NINE MONTHS AND QUARTER ENDED JUNE 30, 2025
(UN-AUDITED)
Nine months ended Quarter ended | |||||
June 30, | June 30, | June 30, | June 30, | ||
2025 | 2024 | 2025 | 2024 | ||
………………….Rupees in '000'…………………… | |||||
Profit / (Loss) after taxation | 77,911 | (101,614) | (41,189) | (19,489) | |
Other comprehensive income for the period - net of tax | - | - | - | - | |
Total comprehensive income / (loss) for the period | 77,911 (101,614) | (41,189) | (19,489) | ||
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 PERIOD ENDED JUNE 30, 2025
(UN-AUDITED)
June 30, June 30,
2025 2024
……….Rupees in '000'……….
A. CASH FLOWS FROM OPERATING ACTIVITIES
Profit / (Loss) before taxation 123,264 (64,281)
63,733 | 60,431 |
251 | 374 |
(83,840) | (106,391) |
15,778 | 35,193 |
1,611 | 794 |
112 | (159) |
Adjustments for non cash charges and other items :
Depreciation Amortisation
Reversal of provision for doubtful debt Finance cost
Provision for gratuity
Loss / (Gain) on sale of fixed assets
Cash generated from operation before working capital changes Working capital changes | (2,355) | (9,757) |
(Increase) / decrease in current assets | ||
Stores, spares and loose tools | (15,168) | (22,987) |
Stock-in-trade | (85,295) | (330,926) |
Trade debts | 85,364 | 105,769 |
Loans and advances | 46,116 | (16,630) |
Prepayments and other receivables | 56,383 | 6,666 |
Increase / (decrease) in current liabilities | 87,400 | (258,108) |
Trade and other payables | (92,669) | 400,529 |
Cash generated from operations | 115,640 | 68,383 |
Taxes paid | (29,356) | (4,672) |
Finance cost paid | (7,962) | - |
Net cash generated from operating activities | 78,322 | 63,711 |
B. CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property, plant and equipments | (61,300) | (41,788) |
Sales Proceed from disposal of property, plant and equipments | 119 | 515 |
Proceed from short term investments | - | 3,802 |
Net cash used in investing activities | (61,181) | (37,471) |
C. CASH FLOWS FROM FINANCING ACTIVITIES | ||
Long term financing - repaid | (51,000) | (17,600) |
Long term loans to employees | 236 | (741) |
Net cash used in financing activities | (50,764) | (18,341) |
Net (decrease)/ increase in cash and cash equivalents | (33,622) | 7,899 |
Cash and cash equivalents at the beginning of the period | 55,647 | 5,611 |
Cash and cash equivalents at the end of the period | 22,025 | 13,510 |
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 NINE MONTHS ENDED JUNE 30, 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, 2023 | 446,160 | (1,672,931) | 2,131,205 | 92,767 | 997,200 |
Profit / (Loss) after taxation | - | (101,614) | - | - | (101,614) |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income / (loss) for the period | - | (101,614) | - | - | (101,614) |
Transferred from revaluation surplus on property, plant and equipment on account of incremental depreciation- net of tax | - | 27,046 | (27,046) | - | - |
Balance as at June 30, 2024 | 446,160 | (1,747,499) | 2,104,159 | 92,767 | 895,586 |
Balance as at October 01, 2024 | 446,160 | (1,883,598) | 2,095,281 | 92,767 | 750,610 |
Profit / (Loss) after taxation | - | 77,911 | - | - | 77,911 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income / (loss) for the period | - | 77,911 | - | - | 77,911 |
Transferred from revaluation surplus on property, plant and equipment on account of incremental depreciation- net of tax | - | 26,947 | (26,947) | - | - |
Balance as at June 30, 2025 | 446,160 | (1,778,739) | 2,068,334 | 92,767 | 828,521 |
The annexed notes form an integral part of these financial statements. |
CONDENSED NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE MONTHS AND QUARTER ENDED JUNE 30, 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, 2024.
These condensed interim financial information have been authorized for issue on July 29, 2025 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