DEWAN SUGAR MILLS LIMITED CONTENTS | |
Company Information...................................................................... | 3 |
Directors' Report.............................................................................. | 4 |
Review Report to the Members....................................................... | 6 |
Condensed Interim Statement of Financial Position........................ | 8 |
Condensed Interim Statement of Profit or Loss............................... | 9 |
Condensed Interim Statement of Comprehensive Income.............. | 10 |
Condensed Interim Statement of Cash Flows.................................... | 11 |
Condensed Interim Statement of Changes in Equity....................... | 12 |
Condensed Interim Segmentwise Operating Results....................... | 13 |
Notes to the Condensed Interim Notes to the Accounts.................... | 14 |
Directors' Report in Urdu................................................................. | 18 |
A YOUSUF DEWAN COMPANY
COMPANY INFORMATION
EXECUTIVE DIRECTORS
Zeeshan Ashraf - Chief Executive Officer
Ghazanfar Baber Siddiqui
NON-EXECUTIVE DIRECTORS
Haroon Iqbal - Chairman Board of Director
Syed Maqbool Ali
Nida Jamil
Muhammad Ashraf
INDEPENDENT DIRECTOR
Aziz-ul-Haque
COMPANY SECRETARY
Muhammad Hanif German
CHIEF FINANCIAL OFFICER
Muhammad Ilyas Abdul Sattar
AUDITORS
Feroze Sharif Tariq & Co. - Chartered Accountants
COST AUDITORS
UHY Hassan Naeem & Co.
TAX ADVISOR
Sharif & Company - Advocates
LEGAL ADVISOR
A.K. Brohi & Company Advocates
AUDIT COMMITTEE | Chairman |
Aziz-ul-Haque | |
Haroon Iqbal | Member |
Syed Maqbool Ali | Member |
HUMAN RESOURCE & REMUNERATION COMMITTEE MEMBERS | |
Aziz-ul-Haque | Chairman |
Haroon Iqbal | Member |
Ghazanfar Baber Siddiqui | Member |
BANKERS | MCB Bank Limited |
National Bank of Pakistan | |
Summit Bank Limited | Meezan Bank Limited |
Habib Bank Limited | Bank of Punjab Limited |
Standard Chartered Bank Limited | Dubai Islamic Bank |
Bank of Khyber Limited | Bank Islami Pakistan Limited |
REGISTERED OFFICE: | CORPORATE OFFICE |
Dewan Centre, 3-A Lalazar, Beach Hotel | Block-A, 2nd Floor |
Road, Karachi-74000, Pakistan. | Finance & Trade Centre |
Shahrah-e-Faisal, Karachi, Pakistan.
SHARE REGISTRAR / TRANSFER AGENT
BMF Consultants Pakistan (Pvt.) Limited
Annum Estate Building, Room No. 310 & 311,
3rd Floor, 49, Darul Aman Society.
Main Shahrah-e-Faisal, Adjacent Baloch Colony,
Karachi, Pakistan.
FACTORY | |
Jillaniabad, Budho Talpur, | WEBSITE |
Taluka: Mirpur Bathoro | |
www.yousufdewan.com | |
District: Sujawal Sindh, Pakistan. | |
QUARTERLY REPORT
DIRECTORS' REPORT
IN THE NAME OF ALLAH; THE MOST GRACIOUS AND MERCIFUL. IF YE ARE GRATEFUL, I WILL GIVE YOU MORE (HOLY QURAN)
Your Directors take pleasure in presenting you the unaudited condensed interim financial information of the Company for the period ended March 31, 2022.
Financial Results.
During the period under consideration, the financial results brief summary is as under: -
March 31, 2022 | March 31, 2021 | |
Net Sales | 5,676,628,336 | 3,987,353,260 |
Gross (Loss) | (295,210,004) | (394,532,234) |
(Net Loss) after tax | (431,636,356) | (524,235,517) |
Performance Review
Sugar Segment
The plant started its crushing on 22nd December, 2021 and operated (99 days) till 30th March 2022 as compared to last year plant operated for 84 days. During the current season plant crushed 489,240 Metric tons of sugar cane producing 50,789.6 Metric Tons White refined sugar with average sucrose recovery of 10.41% as compared to last period plant managed to crush 340,759 tons of sugar cane with average sucrose recovery of 9.97% and refined sugar production of 33,936 tons. This approximately 50% increase production from previous year apparently show improvement in crushing and increase in sucrose recovery but could not take benefit due to increase in price of sugarcane which should be linked with the prices of finished white sugar which is the long outstanding demand of the industry. Further better result could be achieved because we do not have the carrying of stocks due to non-availability of working capital facilities from the financial institution.
During the period sugar segment suffered operating loss of Rs.395.456 million as compared to Rs.444.042 million in the corresponding period. Reason of loss was due to higher raw material cost unavailability of financial limit and underutilization of crushing capacity.
Distillery Segment
Distillery unit produced 14,207 tons of Alcohol during the period under review as compared to 13,064 tons of Alcohol produced during the corresponding period. This period operating profit of distillery unit was Rs.0.065 million as against operating loss of Rs.33.785 million in previous period. This undesirable result was due to increase in raw
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Dewan Sugar Mills Ltd. published this content on 03 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2022 09:21:06 UTC.
