Karachi, Baba Farid Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on January 04, 2019.
The agenda of the meeting was discussion of profit and loss account for year ended September 30, 2018 which portrayed a loss of Rs. 374,066,191 with loss per share 39.58 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 22, 2019 to January 28, 2019 (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.