Karachi, Adam Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on June 16, 2021.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2021 which portrayed a profit of Rs. 23,752,168 with earnings per share 1.37 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Adam Sugar Mills Limited was incorporated in Pakistan on 1965. The name of the company was Bahawalnagar Sugar Mills Limited, but as a public limited company, in 1985, the name of the company was changed to Adam Sugar Mills Limited. The Shares of the company are now quoted in Pakistan Stock Exchange, and “ADAMS” symbol is being used for the shares of the company.
Adam Sugar Mills Limited is engaged in the manufacturing and sale of Sugar, part of Candy manufacturing industry.
The total number of shares the company has issued are 17,291,008. Earnings per shares in 2020 has increased up to 18.42 whereas it was (14.69) in 2019. The Profit after tax recorded in 2020 is 318,557,000 which was (254,059,000) in 2019.