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Tuesday, September 28th, 2021

The Karachi Stock Exchange (Guarantee) Limited’s financial results

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Karachi:

JDW Sugar Mills Limited

Projected Profit and Loss Account

From 2011 to 2013

Audited

2010

Projected

2011

Projected

2012

Projected

2013

Sales – net 20,392,207,793 24,437,877,696 30,470,321,272 32,298,155,422
Cost of sales 16,744,461,279 19,379,793,296 23,522,838,995 25,110,150,327
————— ————– ————— —————
Gross Profit (GP) 3,647,746,514 5,058,084,400 6,947,482,277 7,188,005,095
GP % 17.89 20.70 22.80 22.26
————— ————– ————— —————
Administrative expenses 344,195,411 375,359,174 439,655,782 486,043,839
Distribution and marketing expenses 11,956,057 13,810,683 18,915,474 21,466,804
Other operating expenses 212,053,409 255,725,237 401,085,334 384,555,962
————— ————– ————— —————
568,204,877 644,895,094 859,656,591 892,066,605
————— ————– ————— —————
3,079,541,637 4,413,189,306 6,087,825,686 6,295,938,490
Other operating Income 47,731,457 22,331,832 24,234,000 26,352,889
————— ————– ————— —————
Operating Profit 3,127,273,094 4,435,521,138 6,112,059,686 6,322,291,379
Finance cost 1,168,439,503 1,306,212,651 1,651,746,348 1,489,410,299
Share of loss of associated companies 6,957,792
————— ————– ————— —————
Profit before taxation 1,951,875,799 3,129,308,486 4,460,313,338 4,832,881,080
Taxation 711,473,399 1,202,618,584 1,234,514,189 1,637,702,444
————— ————– ————— —————
Profit after taxation 1,240,402,400 1,926,689,903 3,225,799,149 3,195,178,636
————— ————– ————— —————
Basic and diluted earnings per share 28.20 35.75 59.86 59.29

JDW Sugar Mills Limited Projected Cash Flow from 2011 to 2013

Audited

2010

Projected

2011

Projected

2012

Projected

2013

Cash Flow from Operating Activities
Profit for the year 1,951,875,799 3,129,308,486 4,460,313,338 4,832,881,080
Adjustment for non-cash Items Depreciation 443,216,349 483,904,462 823,787,406 803,659,683
Profit on disposal of assets (4,350,983)
Provision for staff retirement benefits 24,596,077 28,285,487 37,628,311 43,017,557
Finance cost 1,168,439,503 1,306,212,651 1,651,746,348 1,488,410,299
provision for WPPF 105,212,720 168,061,680 239,544,218 260,928,990
Provision for WWF 39,980,834 63,863,438 91,026,803 99,151,876
Amortization of pre operating expenses 51,094,207
Assets written off 20,213,356
Provision for obsolescence 44,082,604
Provision for doubtful debts 24,425,315
Share of loss of associated companies 6,957,792
Loss on sale of Investment 225,000
Amortization of deferred income (3,945,104)
————- ————- ————- ————-
1,869,053,463 2,050,327,720 2,894,827,292 2,696,165,405
(Increase) / decrease in current assets Store, spares and loose tools (10,936,461) (31,034,127) (26,468,086) (28,524,490)
Adv, deposits, and prepayments and other receivables (560,996,835) 508,428,881 (1,449,527) 90,205,177
Stock-in-trade 1,229,614,895 206,682,011
Trade debts 36,445,100 142,956
————- ————- ————- ————-
694,126,699 684,219,721 (27,917,613) 61,580,687
(Decrease) / Increase in current liabilities Creditors, accrued and other liabilities (195,050,744) 3,692,059 13,963,509 (59,493,797)
————- ————- ————- ————-
Net cash from operating activities 4,320,005,217 5,867,547,987 7,341,186,526 7,531,233,375
Finance cost paid (1,159,106,529) (1,111,197,631) (1,569,950,081) (1,488,187,789)
Staff retirement benefits paid (22,277,994) (14,546,668) (16,937,011) (20,433,695)
WPPF paid (55,453,880) (109,212,720) (172,061,680) (244,544,218)
WWF paid (24,037,078) (55,366,025) (63,863,438) (91,026,803)
Taxes paid (97,147,552) (1,265,258,849) (581,881,321) (1,579,653,409)
————- ————- ————- ————-
(1,358,023,033) (2,555,581,893) (2,404,693,533) (8,423,845,914)
————- ————- ————- ————-
2,961,982,184 3,311,966,094 4,936,492,993 4,107,387,461
Cash flow from investment activities
Additions to fixed assets (185,510,557) (489,337,430) (4,167,724,710) (571,000,001)
Additions to CWIP (3,253,588,918) 3,383,588,918
Investment property (37,756,392)
Procedure from sale of Investments 150,000
Procedure from sale of disposal of Fixed assets 9,287,993
Long term Investment (410,000,000) (205,000,000) (650,000,000) (450,000,000)
Short term Investment
Pre-operating Expenses (51,094,207)
Long term deposit (35,531,373) 25,981,633 12,500,000 45,662,015
————- ————- ————- ————-
Net cash flow from investment activities (659,360,329) (3,973,038,922) (1,421,635,792) (975,337,986)
Cash flow from financing activities
Lease rentals (232,649,852) (346,361,751) (331,542,594) (286,614,328)
Long term loans:
PPTFC’s and PPSC’s (402,222,222) (548,888,889) (548,888,889) (548,888,889)
HBL Led Syndicated (102,000,000) (255,000,000) (255,000,000) (255,000,000)
Long term loan-IV 2,450,000,000 (490,000,000)
Short term borrowings (1,480,111,770) 339,709,030 (450,000,000) (712,500,000)
Net proceeds from issuance of right Shares 92,909,300
————- ————- ————- ————-
Dividend (174,183,028) (342,922,839)
————- ————- ————- ————-
(2,298,257,572) 1,296,535,551 (1,585,431,483) (2,293,003,217)
————— ————– ————— —————
Net increase in cash and cash equivalent 4,364,283 635,462,723 1,929,425,718 839,046,258
Cash and cash equivalent at the beginning of the year 6,577,521 10,941,804 646,404,526 2,575,830,244
————— ————– ————— —————
Cash and cash equivalent at the end of the year 10,941,804 646,404,527 2,575,830,244 3,414,876,503

For more information, contact:
Karachi Stock Exchange
Tel: +9221 111-001122
Fax: +9221 3241 0825, +9221 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

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