19, DOCKYARD ROAD, WEST WHARF, P.O. BOX NO. 4766, KARACHI-74000 (PAKISTAN)
Proses:32313934-38,32312g#,32310973 Fax:(92-2l)32310O23,32Z0O723
Ema'I: jamilbun@s ha htaj corn
NO. SSM-12/024/2025
The General Manager,
Pakistan Stock Exchange Limited
Stock Exchange Building Stock Exchange Road, Karachi.
31" December, 2025
SUBJECT:- FINANCIAL RESULTS FOR TflE YEAR ENDED 30-09-2025
Dear Sir,
We have to inform you that the Board ofDirectors of our Company in their meeting held today the 31stDecember, 2025 at 12:30 PM, have recommended a cash dividend at Rs.1.25 per share
i.e. 12.5%.
In compliance to your notice No. PSX/No.062 dated 10" January, 2025, we enclose herewith
the following:
Financial Results (including statements of Profits and Loss)
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flow
The Yearly Report of the Company for the Year ended 30* September, 2025, will be transmitted through PUCARS separately within the specified time.
Thanking you,
Yours faithfully,
for SHAHTAJ SUGAR MILLS LIMITED
J/ IL AHMAD BUTTS
Company Secretary Encls: as above.
C-9
SHAHTAJ SUGAR MILLS LIMITED STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Note 2025 2024
(Rupees in thousand)Revenue from contracts with customers - net | 32 | 8,648,772 | 8,821,018 |
Cost of revenue | 33 | (7,789,382) | (7,893,589) |
Gross profit | 859,390 | 927,429 | |
Distribution cost | 34 | (22,198) | (21,384) |
Administrative expense | 35 | (398,581) | (382,285) |
Other operating expense | 36 | (31,983) | (875) |
(452,762) | (404,544) | ||
406,628 | 522,885 | ||
Other income | 37 | 82,922 | 52,530 |
Profit from operations | 489,550 | 575,415 | |
Finance cost | 38 | (373,512) | (644,724) |
116,038 | (69,309) | ||
Share of profit from associate - net of tax | 7 | 22,634 | 5,482 |
Profit / (loss) before income tax and levy | 138,672 | (63,827) | |
Levy | 39 | (77,280) | (114,127) |
Profit / (loss) before income taxation | 61,392 | (177,954) | |
Income tax | 40 | (28,713) | 210,099 |
Profit for the year | 32,679 | 32,145 |
Earnings per share -basic and diluted (Rupees)41 2.72 2.68
CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER
The annexed notes from 1 to 58 form an integral part of these financial statements.
SHAHTAJ SUGAR MILLS LIMITED STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025 ASSETS NON CURRENT ASSETS NoteC-8
2025 2024 (Rupees in thousand)Property, plant and equipment | 6 | 6,311,819 | 5,636,647 |
Long term investment | 7 | 236,860 | 215,520 |
Long term loans | 8 | 45,238 | 47,163 |
Long term deposits | 9 | 41,161 | 40,256 |
CURRENT ASSETS | 6,635,078 | 5,939,586 | |
Stores, spares and loose tools | 10 | 252,311 | 276,447 |
Stock-in-trade | 11 | 926,224 | 1,590,037 |
Trade debts | 12 | 35,366 | 39,367 |
Contract assets | 13 | 35,442 | - |
Loans and advances | 14 | 18,322 | 157,863 |
Short term prepayments | 15 | 8,025 | 4,664 |
Levy / taxation - net | 16 | 397,279 | 250,695 |
Bank balances | 17 | 85,324 | 268,483 |
1,758,293 | 2,587,556 |
TOTAL ASSETS 8,393,371 8,527,142
EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVESAuthorized share capital 15,000,000 (September 30, 2024: 15,000,000) ordinary | |||
shares of Rs. 10 each | 150,000 | 150,000 | |
Issued, subscribed and paid-up share capital | 18 | 120,111 | 120,111 |
Reserves | |||
Capital reserve - share premium | 27,534 | 27,534 | |
Capital reserve - revaluation surplus on land | 19 | 1,953,285 | 1,953,285 |
Revenue reserve - general reserve / un-appropriated profits | 1,092,360 | 1,056,318 | |
3,073,179 | 3,037,137 | ||
Loans from directors | 20 | 150,000 | 150,000 |
3,343,290 | 3,307,248 | ||
NON CURRENT LIABILITIES | |||
Long term financing | 21 | 2,664,451 | 2,419,772 |
Loan from associate | 22 | 102,740 | 99,817 |
Lease liability | 23 | 11,244 | 15,872 |
Retirement benefits obligations | 24 | 34,143 | 33,474 |
2,812,578 | 2,568,935 | ||
CURRENT LIABILITIES | |||
Trade and other payables | 26 | 340,099 | 281,520 |
Contract liabilities | 27 | 167,325 | 142,952 |
Short term borrowings | 28 | 1,386,586 | 1,834,226 |
Accrued mark-up | 29 | 235,253 | 363,953 |
Current portion of non-current liabilities | 30 | 82,417 | 2,456 |
Unclaimed dividend | 25,823 | 25,852 | |
2,237,503 | 2,650,959 | ||
TOTAL EQUITY AND LIABILITIES | 8,393,371 | 8,527,142 | |
CONTINGENCIES AND COMMITMENTS | 31 | ||
The annexed notes from 1 to 58 form an integral part of these financial statements.
C-11
SHAHTAJ SUGAR MILLS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED SEPTEMBER 30, 2025Share capital | RESERVES | Loan from directors | Total Equity | ||||||
Capital reserves | Revenue reserves | Total | |||||||
Share premium | Surplus on revaluation of land | Sub total | General reserve | Accumulated profit / (losses) | Subtotal | ||||
-------------------------------------------------------------------(Rupees in thousand)------------------------------------------------------------------- | |||||||||
Balance as at October 01, 2023 Transactions with owners: | 120,111 | 27,534 | 1,928,484 | 1,956,018 | 1,151,119 | 36,318 | 1,187,437 | 3,143,455 | 150,000 | 3,413,566 |
Final cash dividend 2023: Rs. 14 | - | - | - | - | - | (168,155) | (168,155) | (168,155) | - | (168,155) |
Land revaluation adjustment in associate | ||||||||||
(Note 8.1) | - | - | 24,801 | 24,801 | - | - | 24,801 | - | 24,801 | |
Profit for the year | - | - | - | - | - | 32,145 | 32,145 | 32,145 | - | 32,145 |
Other comprehensive income for the year | - | - | - | - | 4,891 | 4,891 | 4,891 | - | 4,891 | |
Total comprehensive income for the year | - | - | - | - | - | 37,036 | 37,036 | 37,036 | - | 37,036 |
Balance as at September 30, 2024 | 120,111 | 27,534 | 1,953,285 | 1,980,819 | 1,151,119 | (94,801) | 1,056,318 | 3,037,137 | 150,000 | 3,307,248 |
Profit for the year | - | - | - | - | - | 32,679 | 32,679 | 32,679 | - | 32,679 |
Other comprehensive income for the year | - | - | - | - | - | 3,363 | 3,363 | 3,363 | - | 3,363 |
Total comprehensive income for the year | - | - | - | - | - | 36,042 | 36,042 | 36,042 | - | 36,042 |
Balance as at September 30, 2025 | 120,111 | 27,534 | 1,953,285 | 1,980,819 | 1,151,119 | (58,759) | 1,092,360 | 3,073,179 | 150,000 | 3,343,290 |
The annexed notes from 1 to 58 form an integral part of these financial statements.
C-12
SHAHTAJ SUGAR MILLS LIMITED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 2025
Note
2025 2024
(Rupees in thousand)
CASH FLOWS FROM OPERATING ACTIVITIES Cash generated from / (used in) from operations | 42 | 1,392,304 | (29,814) |
Finance cost paid | (502,212) | (443,603) | |
Profit on bank deposits received | 14,347 | 18,609 | |
Income taxes paid | (252,656) | (181,447) | |
Leave encashment paid | (791) | (777) | |
Gratuity and retirement benefit paid | (1,667) | (1,536) | |
(742,979) | (608,754) | ||
Net cash generated from / (used in) from operating activities | 649,325 | (638,568) | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Property, plant and equipment acquired | 6 | (708,839) | (1,098,127) |
Proceeds from disposal of property, plant and equipment | 6 | 1,174 | 1,005 |
Increase in long term loans | 1,688 | 1,120 | |
Dividend received from associate | 7 | 1,150 | 7,475 |
Net cash used in investing activities | (704,827) | (1,088,527) | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Long term financing - Net | 323,181 | 1,202,595 | |
Short term borrowings - Net | (597,640) | 854,685 | |
Loan received from associates | 150,000 | - | |
Dividend paid | (29) | (149,649) | |
Repayment of lease liability | 23 | (3,169) | (1,340) |
Net cash (used in) / generated from financing activities | (127,657) | 1,906,291 | |
Net (decrease) / increase in cash and cash equivalents | (183,159) | 179,196 | |
Cash and cash equivalent at the beginning of the year | 268,483 | 89,287 | |
Cash and cash equivalent at the end of the year | 85,324 | 268,483 |
CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER
The annexed notes from 1 to 58 form an integral part of these financial statements.