Karachi, Noon Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on May 30, 2022.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2022 which portrayed a profit of Rs. 121,217 with earnings per share 7.34 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Noon Sugar Mills Limited was incorporated in the Year 1964 as a Public Company. It is principally engaged in production and sale of white sugar and spirit. The plant for manufacture of white sugar is in the province of Punjab. The plant went into production in 1966 with a daily crushing capacity of 1,500 MT of sugar cane, which has since been raised to 4,000 MT per day in 2002. Further extension to 9,000 TCD has become operative in 2006-2007 crushing season.
An Alcohol Distillery Division of French origin was added during 1986 with a production capacity of 50,000 litres/day in 2002. Another facility with an option to provide either 30,000 LPD Industrial of fuel Grade Ethanol technology has been added in 2005.
The total number of shares are 16,517,456. The Earnings per shares is 15.50 in 2020 which was 13.64 in 2019. The Profit after Taxation is 256,060,000 in 2020 which was 225,317,000 in 2019.