Dewan Sugar Mills : Financial Results for the Quarter Ended March 31,2023
May 30, 2023 at 12:25 am EDT
Share
May 29, 2023
FORM-3
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building, Stock Exchange Road
Karachi, Pakistan.
Subject: Financial Results for the Half Yearly, un-audited,condensed interim Financial
Statements of the Company for the period ended March 31, 2023
Dear Sir,
We have to inform you that the Board of Directors of our company in their meeting held on Monday, May 29, 2023 at 04:30 p.m. at Karachi, recommended the following:
(i) CASH DIVIDEND
Nil
AND/OR
(ii) BONUS SHARES
Nil
AND/OR
(iii) RIGHT SHARES
Nil
AND/OR
(iv) ANY OTHER ENTITLEMENT/CORPORATE ACTION
Nil
AND/OR
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
Nil
The Half Yearly, un-audited, condensed interim Financial Statements of the Company for the period ended March 31, 2023, are as follows:
Half Year Ended
Quarter Ended
Mar.31, 2023
Mar.31, 2022
Mar.31, 2023
Mar.31, 2022
….........................'(Rupees in '000')…
Sales
4,886,617
5,676,628
3,283,033
4,502,158
Cost of Sales
(5,021,231)
(5,971,838)
(3,435,573)
(4,563,201)
Gross (Loss)
(134,614)
(295,210)
(152,540)
(61,043)
Administrative and General Expenses
(49,944)
(35,525)
(24,846)
(15,724)
Distribution and Selling Costs
(85,220)
(73,439)
(51,575)
(45,465)
Other Operating Income/(Loss)
(321,640)
296
(248,482)
165
(Loss) from Operations
(591,417)
(403,878)
(477,443)
(122,066)
Finance Cost
(23,313)
(21,372)
(11,664)
(10,790)
(Loss) before Income Tax
(614,730)
(425,250)
(489,107)
(132,856)
Taxation
1,623
(6,385)
(9,315)
(23,781)
(Loss) for the period (after Income Tax)
(613,107)
(431,635)
(498,422)
(156,637)
(Loss) per Share - Basic
(6.70)
(4.72)
(5.45)
(1.71)
The Auditors have given observation on loans and markup, further non-provisioning of the markup and observation on going concern assumption of the Company.
The Quarterly Report of the Company for the period ended March 31, 2023 will be transmitted through PUCARS separately, within the specified time.
Yours faithfully,
Muhammad Ilyas Abdul Sattar
Syed Maqbool Ali
Chief Financial Officer
Director
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Dewan Sugar Mills Ltd. published this content on 30 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2023 04:24:06 UTC.
Dewan Sugar Mills Limited is a Pakistan-based company, which is engaged in production and sale of white crystalline refined sugar, processing and trading of by-products, and other related activities and allied products. The Company operates through four segments: Sugar segment, Polypropylene segment, Board and Panel segment, and Distillery segment. The Company operates through three units namely sugar unit, distillery unit, board, and penal unit. The Company's all four manufacturing facilities units are located at Jillaniabad, Budho Talpur, Mirpur Bathoro, Thatta, Sindh, Pakistan.