Sakrand Sugar Mills Limited’s financial results for the year ended September 30, 2012

Karachi, January 01, 2013 (PPI-OT): We have to inform you that the Board of Directors of the Company approved the accounts for the year ended September 30, 2012 on December 31, 2012 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:

2012

2011

Rupees

Rupees

Sales-net

2,463,907,058

3,125,043,840

Cost of sales

(2,407,868,765)

(3,083,835,551)

————-

————-

Gross profit

56,038,293

41,208,289

Operating Expenses
Administrative expenses

(111,770,707)

(99,886,081)

Distribution cost

(3,331,530)

(3,300,046)

————-

————-

(115,102,530)

(103,186,127)

————-

————-

Operating Loss

(59,063,944)

(61,977,838)

Other charges

(670,995)

(376,704)

Other income

1,267,125

10,216,854

————-

————-

596,130

9,840,150

————-

————-

(58,467,814)

(52,137,688)

Unrealised gain on loan amortisation

1,609,143

8,869,339

Finance cost

(95,011,321)

(89,942,707)

————-

————-

(93,402,178)

(81,073,368)

————-

————-

Loss before Taxation

(151,869,992)

(133,211,056)

Provision for Taxation
Current

(12,321,997)

(31,255,816)

Prior

-

(1,437,587)

Deferred

29,334,191

17,359,222

————-

————-

17,012,194

(15,334,181)

————-

————-

Loss after Taxation

(134,857,797)

(148,545,237)

————-

————-

Earning Per Share-Basic and Diluted

(6.06)

(6.56)

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, 2013 at 0800 hrs at the Registered Office of the Company, 41-K. Block-6, P.E.C.H.S. Karachi.

For more information, contact:
Sakrand Sugar Mills Limited
H.O.: 41-K, Block-6, P.E.C.H.S.,
Karachi- 75400, Pakistan
UAN: 111-48-48-48
Tel: 34531642, 34531105, 34522909, 34522934
Fax: 34546456
E-mail: admin@sakrandsugar.com

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