Karachi: Shahmurad Sugar Mills Limited has released its financial results for the first quarter ended December 31, 2024. The company, which operates within the sugar industry market category, has shared comprehensive statements detailing its financial position, changes in equity, and cash flows.

On January 27, 2025, Shahmurad Sugar Mills issued a letter, reference number SMS/SHRS/12, announcing the publication of its financial results in accordance with Notice No. PSX/N-062 of the Pakistan Stock Exchange, dated January 10, 2025. The report highlights the company's performance over the quarter ending in December 2024, presenting both un-audited and audited figures for comparison.

The non-current assets of Shahmurad Sugar Mills stood at 10.69 billion rupees as of December 2024, a slight decrease from 10.78 billion rupees recorded in September 2024. The decline is largely due to depreciation in property, plant, and equipment values. On the other hand, current assets increased from 11.06 billion rupees in September 2024 to 11.76 billion rupees in December 2024, primarily due to significant rises in trade debts and loans and advances.

The company's equity and liabilities as of December 2024 show total equity at 11.86 billion rupees, up from 11.72 billion rupees in September 2024. The increase in equity is mainly attributed to unappropriated profits amounting to 7.58 billion rupees. Current liabilities also experienced a rise, reaching 7.64 billion rupees in December 2024 from 7.14 billion rupees in September 2024, which includes accrued finance costs and short-term borrowings.

Furthermore, according to information available from the Pakistan Stock Exchange (PSX), Shahmurad Sugar Mills generated a net cash inflow from operating activities of 1.13 billion rupees for the quarter. This was facilitated by cash generated before working capital changes amounting to 527.84 million rupees. However, the company faced a net cash outflow from investing activities, largely due to additions in property, plant, and equipment.

In terms of financing activities, Shahmurad Sugar Mills recorded a net cash outflow, primarily from repayments of long-term financing and related party loans. The net increase in cash and cash equivalents was reported at 1.49 billion rupees, bringing the cash and cash equivalents at the end of the period to 3.78 billion rupees, including cash and bank balances of 1.28 billion rupees.

Overall, Shahmurad Sugar Mills has shown resilience in its financial performance for the first quarter of the fiscal year 2024, with a notable increase in current assets and equity, alongside a strategic management of cash flows.