Contents
- Company Profile
- Financial Review
- Future Outlook
Company Profile - Introduction
The Company:
Baba Farid Sugar Mills Limited ("the Company") was incorporated in 1978 under the Companies Act 1913 (now Companies Act, 2017) as a Public Limited Company, and its shares are quoted at Pakistan Stock Exchange. It is principally engaged in the manufacturing and sale of sugar including its by-products i.e. molasses and V. Filter cake.
Capacity:
The Company has 3,500 M. Tons crushing capacity.
Location:
The crushing facility of the company is located at 5-Km Faisalabad Road Okara.
Change of Management
Fecto Group
The affairs of the Company were managed by Fecto Groupsince its incorporation. During the Financial Year 2009-10, the Company was taken over by management and on 25 October 2010, the Board of Directors of the Company had been changed.
Imporient Group/ Pattoki Sugar Mills Limited
On October 25, 2010, the new Board of Directors took over the charge of Baba Farid Sugar Mills Limited being Pattoki Sugar Mills Limited as the Holding Company and run the affairs of the Company till January 23, 2019.
Al- Moiz Group
On January 23, 2019, a share purchase agreement was made between the Board of Directors of Al Moiz Industries Limited and Naubahar Bottling Co. (Pvt) Limited with the Board of Directors of Baba Farid Sugar Mills Limited. The new Board took over 96.46% of shares of the Company from existing Directors, and 1.77% from the General public by making a public offer on March 27, 2019. 50.86% of Shares were held by Naubahar Bottling Co. (Pvt) Limited (Being Holding Company) which were subsequently sold to the Directors of the Company.
Company Profile - Board of Directors
CHAIRPERSON
Mrs. Qaiser Shamim Khan
INDEPENDENT DIRECTORS
Mr. Farid ud Din Ahmed
Mr. Malik Manzoor Hussain Humayoon
CHIEF EXECUTIVE
Mr. Adnan Ahmed Khan
AUDIT COMMITTEE
Mr. Farid ud Din Ahmed (Chairman)
Mrs. Sara Hajra Khan (Member)
Mr. Malik Manzoor Hussain Humayoon
(Member)
NON-EXECUTIVE DIRECTORS
Mr. Nauman Ahmed Khan Mrs. Sara Hajra Khan
COMPANY SECRETARY
Mr. Muhammad Imran
CHIEF FINANCIAL OFFICER
Mr. Wasif Mahmood
ID: Independent Director
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Baba Farid Sugar Mills Ltd. published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 08:46:05 UTC.