Sakrand Sugar Mills Limited’s financial results for the year ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of the Company approved the accounts for the year ended September 30, 2011 on December 30, 2011 at 41-K, Block -6, P.E.C.H.S., Karachi declaring no entitlement for the shareholders.

The financial results of the Company are as follows:

 

2011

2010

Rupees

Rupees

SALES-net 3,125,043,840 3,193,218,665
Cost of sales (3,083,835,551) (2,975,748,146)
————- ————-
Gross Profit 41,208,289 217,470,519
OPERATING EXPENSES
Administrative expenses (99,886,081) (88,903,269)
Distribution cost (3,300,046) (1,924,524)
 

 

————- ————-
(103,186,127) (90,627,793)
————- ————-
Operating Profit/(Loss) (61,977,838) 126,642,726
Other charges (376,704) (916,795)
Workers’ Profit Participation Fund (2,564,625)
Workers’ Welfare Fund (974,557)
Other income 10,216,854 52,249
 

 

————- ————-
9,840,150 (4,403,728)
————- ————-
(52,137,688) 122,238,998
Unrealized gain on loan amortization 8,869,339 11,512,903
Finance cost (89,942,707) (85,998,588)
 

 

————- ————-
(81,013,368) (74,465,685)
————- ————-
PROFIT/(LOSS) BEFORE TAXATION (133,211,056) 47,753,313
PROVISION FOR TAXATTON
Current (31,255,816) (31,936,537)
Prior (1,437,587)
Deferred 17,359,222 30,588,325
 

 

————- ————-
(15,334,181) (1,348,212)
————- ————-
PROFIT/(LOSS) AFTER TAXATION (148,545,237) 46,405,101
————- ————-
(Loss)/ Earning Per Share-Basic and Diluted (6.66) 2.08

 

The auditors of the Company have certain qualification/observation, the details of which will be communicated while submitting the annual accounts to the exchange.

The Annual General Meeting of the Company will be held on January 31, 2012 at 0900 hrs at the Registered Office of the Company, 41-K, Block-6, P.E.C.H.S. Karachi.

The Share Transfer Books of the Company will remain closed from January 24, 2012 to January 31, 2012 (both days inclusive). We will be sending you 300 copies of printed Accounts for distribution amongst the members of the Exchange.

For more information, contact:
Mustafa Kananai
Company Secretary
Sakrand Sugar Mills Limited
41-k, Block-6, P.E.C.H.S.,
Karachi – 75400,
Pakistan.
UAN: 111-48-48-48
Tel: 34531642
Fax: 34546456
Email: admin@sakrandsugar.com

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