Karachi: Dewan Sugar Mills Limited (DSML) has officially announced its 44th Annual General Meeting (AGM) scheduled for January 26, 2026, at the Dewan Cement Limited Factory Site in Karachi. The meeting will begin at 12:00 noon and address several key business matters, including the election of seven directors following the provisions of Section 159 of the Companies Act, 2017. The meeting will also review and approve the annual audited financial statements for the year ending September 30, 2025.
The agenda for the AGM includes confirmation of the minutes from the preceding meeting, election of directors, adoption of financial statements, and the appointment of statutory auditors. Retiring directors include Mr. Ishtiaq Ahmad, Mr. Abdul Basit, Syed Maqbool Ali, Mr. Mehmood-ul-Hassan Asghar, Mr. Ghazanfar Saber Siddiqi, Mr. Aziz-ul-Haque, and Mrs. Nida Jamil. The meeting will also consider any other business matters with the permission of the Chair.
In his review, the Chairman expressed satisfaction with the performance and effectiveness of the Board of Directors over the past year, noting that the board held four meetings and maintained active participation in key decisions. The Board's contributions were deemed satisfactory, with a focus on aligning with the company's objectives.
According to information available from the Pakistan Stock Exchange (PSX), Dewan Sugar Mills Limited reported significant financial changes. Net sales for 2025 were Rs. 1.30 billion, down from Rs. 2.48 billion in 2024, resulting in a big move in financial performance. The company recorded a gross loss of Rs. 994.88 million, compared to Rs. 453.61 million the previous year, while the net loss after tax stood at Rs. 572.40 million, a slight improvement over the Rs. 608.93 million loss in 2024.
The company's sugar operations resumed on January 22, 2025, after a hiatus during the 2023-2024 crushing season but faced challenges due to technical issues and sugar cane availability. The distillery operations also saw a decline, producing only 2,519 metric tons of industrial alcohol, a 72% decrease compared to the previous year. The distillery unit's operating loss increased to Rs. 275.72 million from Rs. 184.61 million in 2024.
Despite these challenges, the company's board and panel operations showed improvement, producing 67,650 sheets compared to 33,630 sheets last year. Management remains optimistic about the future, citing potential growth with increasing economic and construction activities.
Members attending the AGM have been informed of procedural details, including the availability of video conferencing and e-voting facilities. The company emphasized the importance of updating shareholder information and adhering to the specified timelines for participation in the meeting.
The company's commitment to transparency and compliance with regulatory requirements was reiterated, ensuring shareholders are informed and engaged in the decision-making process.