Karachi: Al-Noor Sugar Mills Limited has announced that its 56th Annual General Meeting (AGM) will take place on January 28, 2026, at the company's registered office in Karachi. The meeting is scheduled to commence at 11:30 a.m., focusing on several business agendas, including the confirmation of minutes from the previous AGM held on January 28, 2025, and the adoption of the audited financial statements for the fiscal year ended September 30, 2025.
During this period, the company reported a net profit of Rs. 107,451,000, a turnaround from the previous year's net loss of Rs. 45,083,000. The improvement in financial performance is reflected in the company's decision to approve a final cash dividend of 40%, equivalent to Rs. 4.00 per ordinary share.
The meeting will also address the appointment and remuneration of auditors for the 2025-26 fiscal year, with the current auditors, M/s. Kreston Hyder Bhimji & Co., offering themselves for re-appointment. Special business items include the ratification of related party transactions conducted during the year, with authorization for the board to approve future transactions through September 30, 2026.
The company's financial performance for the year demonstrated challenges, notably in its sugar division, where sugarcane crushing and sugar production volumes fell significantly. Sugarcane crushed was 747,944 metric tons, down from 1,109,983 metric tons the previous year, while sugar production decreased to 71,515 metric tons from 119,117 metric tons.
According to information available from the Pakistan Stock Exchange (PSX), Al-Noor Sugar Mills operates within the designated market category of sugar and MDF board production. The company's sales revenue for the year was reported at Rs. 17,916,301,000, compared to Rs. 20,736,291,000 in 2023-24, representing a very large or significant move of -13.6%.
The company's medium density fibre (MDF) board division produced 63,867 cubic meters, slightly lower than the previous year's 67,512 cubic meters, as production aligned with market demand and raw material availability.
Al-Noor Sugar Mills has also noted a decline in other operational metrics, including molasses production, which stood at 39,072 metric tons compared to 49,750 metric tons previously. Despite these operational challenges, the company remains optimistic about the future contributions of its MDF board division in the domestic market.
The upcoming AGM will provide shareholders with the opportunity to discuss these financial and operational results, as well as to address any other business with the Chair's permission. Shareholders are reminded of the closure of share transfer books from January 21 to January 28, 2026, and the requirements for proxy submissions and participation in the meeting.