Karachi, Baba Farid Sugar Mills Limitedinformed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on January 30, 2018.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2017 which portrayed a loss of Rs. 24,418,015 with loss per share 2.58 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from January 23, 2018 to January 30, 2018 (both days inclusive).
Baba Farid Sugar Mills Limited is a company incorporated in Pakistan in 1978 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. It is principally engaged in the manufacturing and sale of sugar including its by-products i.e. Molasses and V. Filter Cake. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi and its manufacturing facility is located in Punjab.
Baba Farid Sugar Mills Limited is the second sugar mill of the Imporient Group and is located in Okara. The production capacity of the company is 27,200 Tonnes. The company is also a member of the Chamber of Commerce and Industry.
The symbol “BAFS” is being used by the stock exchanges for the shares of Baba Farid Sugar Mills Limited.