Corporate Information | 02 | |||||||||||||||||
Vision and Mission | 03 | |||||||||||||||||
Directors' Report | 04 | |||||||||||||||||
Statement of Financial Position | 06 | |||||||||||||||||
Statement of Profit or Loss & Comprehensive Income | 07 | |||||||||||||||||
Statement of Changes In Equity | 08 | |||||||||||||||||
Statement of Cash Flow Statement | 09 | |||||||||||||||||
Notes To The Financial Statement | 10 | |||||||||||||||||
DATE OF INCORPORATION
August 23, 1989
DATE OF COMMENCEMENT OF BUSINESS
September 13, 1989
BOARD OF DIRECTORS
Mr. Faraz Mubeen Jumani
(Chief Executive Officer)
Mr. Muhammad Mubeen Jumani Mr. Fahad Mubeen Jumani Mrs. Qamar Mubeen Jumani (Chairperson)
Miss. Arisha Mubeen Jumani
Lt. Gen (Retd). Tahir Mahmud Qazi Mr. Asif Khan Brohi
CHIEF FINANCIAL OFFICER
Mr. Mirza Muhammad Bilal Kamil
COMPANY SECRETARY
Mr. Shoaibul Haque
BANKERS
National Bank of Pakistan
Sindh Bank Limited
Dubai Islamic Bank Pakistan Limited
MCB Bank Limited
United Bank Limited
Allied Bank Limited
Bank Al Falah Limited
Habib Bank Limited
JS Bank Limited
Bank AL Habib Limited
STATUTORY AUDITORS
M/S. Haroon Zakaria & Company
Chartered Accountants
M-1-M4, Mezzanine Floor, Progressive Plaza,
Plot No. 5 CL - 10, Civil Lines Quarter,
Beaumont Road, Near Dawood Centre,
Karachi - 75530 PAKISTAN.
AUDIT COMMITTEE
Mr. Asif Khan Brohi (Chairman)
Lt. Gen (Retd). Tahir Mahmud Qazi (Member)
Mrs.Qamar Mubeen Jumani (Member)
HR AND REMUNERATION COMMITTEE
Mr. Asif Khan Brohi (Chairman)
Lt. Gen (Retd). Tahir Mahmud Qazi (Member)
Mr. Muhammad Mubeen Jumani (Member)
LEGAL ADVISOR
Asad Ali Riar (Advocate)
Suite No 17-18, Farid Chambers, 2nd Floor, Abdullah Haroon Road, Karachi.
COST AUDITOR
M/S A. D. Akhawala & Co.
Chartered Accountant
321-Uni Centre, I.I. Chundrigar Road, Karachi.
SHARES REGISTERAR
M/S. C & K Management Associates (Pvt.) Limited 404, Trade Tower, Abdullah Haroon Road,
Near Metropole Hotel, Karachi.
REGISTERED OFFICE
51/II/IV, Khayaban-e-Janbaz, 26th Street, Phase V Ext., D.H.A., Karachi.
Ph: 021-35250131-35
Fax: 021-35250136
MILLS
Naroo Dhoro, Taluka Kot Diji, Khairpur.
E-MAIL & WEBSITE
headoffice@jumanigroup.com
http://khairpursugar.com.pk
STOCK EXCHANGE SYMBOL
KPUS
We aim to be a leading manufacturer of quality sugar, and other allied products and its supplier in local and international markets. We aspire to be known for the quality of our products and intend to play a pivotal role in the economic and social development of Pakistan.
As a prominent producer of sugar, and other allied products, we shall continue to strive to achieve excellence in performance and aim to exceed the expectations of all stakeholders. We target to achieve technological advancements to inculcate the most efficient, ethical and time tested business practices in our management.
Dear Members
Assalam-o-Alaikoom
On behalf of the Board of Directors, it is our privilege to present before you the un-audited accounts of the Company for the First Quarter ended December 31, 2021.
FINANCIAL RESULTS
During the period under review, the operation of your Company resulted in a pre-tax profits of Rs. 198.244 Million. The financial results are as under:
Rupees in thousand | ||||||
Profit before taxation | … | … | … | … | … | 198,244 |
Taxation | … | … | … | … | … | (9,106) |
Profit after taxation | … | … | … | … | … | 189,138 |
PERFORMANCE REVIEW
The crushing season 2021-22 started on 13th November 2021 and up to the end of this quarter 268,136.6 M.T Sugar- cane has been crushed by producing 23,935.00 M.T Sugar with average recovery of 9.233% in 49 days, as compared to crushing of 269,227.010 M.T Sugar-cane and producing 23,927.00 M.T Sugar with average recovery of 9.157% in 57 days in corresponding period of last year/season 2020-21.
Government of Sindh (Agriculture Supply & Prices Department) has issued a notification fixing the minimum sugarcane support price at Rs.250/= (Rupees two hundred fifty) per 40 kg (Mds) for crushing season 2021-22. Due to which growers are getting more than the previous year and fair return of their efforts. Sugar prices dropped significantly at the start of the crushing season. Similarly, the prices of molasses are also decreasing as compared to the last year. Further combining the same with the increase in Kibor rates over the period of time by the SBP 9.75% on December 31, as a result the company is anticipating increase in the overall financing cost. All such factors will play significant role on company's cost. However, company is anticipating significant increase in sugar cane harvesting which will helps in maintaining the overall cane cost coupled with the increase in recovery rates in the coming months and the anticipation in the stability in sugar prices for the upcoming year. All these factors will have the positive bearing on the operation of the company due to which your company is anticipating to close the next financial year with decent profitability.
ENVIRONMENT
For improvement of environment hazard, Khairpur sugar mills limited have taken care on priority. As per Sindh's Environmental policy Act 2013, proven care has been taken care. On implementing this policy, use of water and drainage has been reduced. After approval from Sindh Environmental Protecting Agency (SEPA) and foreign expert's consultant's services for waste water, the treatment has been installed having capacity of 3000 cm/day. Which will become again useful for the use of agriculture sector to end the water scarcity and to end the pollution. By the grace of almighty Allah. Our mill inaugurated this plant during the previous accounting period.
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Khairpur Sugar Mills Ltd. published this content on 01 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2022 07:31:04 UTC.