Karachi: Sindh Abadgar's Sugar Mills Limited has released its financial results for the fiscal year ending December 31, 2024. The company has announced that its annual report will be transmitted through PUCARS separately within the specified time frame.

The financial statement reveals a steady position for the company with issued, subscribed, and paid-up capital standing at 104.25 million rupees as of December 31, 2024, maintaining the same level from September 30, 2024. The capital reserves are reported at 2.72 billion rupees, slightly down from 2.76 billion rupees in September 2024.

According to information available from the Pakistan Stock Exchange (PSX), the company's transactions with related parties are conducted on an arm's length basis. This includes remuneration to the chief executive and directors, which amounted to 3.00 million rupees for the quarter ending December 31, 2024, compared to 1.00 million rupees for the same period in 2023. Additionally, the contribution to the staff provident fund was 1.74 million rupees, up from 1.68 million rupees the previous year.

The provision for the Workers' Profit Participation Fund is reported at 7.51 million rupees as of December 31, 2024, an increase from 2.86 million rupees for the same period in 2023. These figures highlight the company's commitment to fulfilling its obligations to its employees and stakeholders.

The market category for Sindh Abadgar's Sugar Mills Limited is the sugar industry, which plays a crucial role in the agricultural and economic sectors of Pakistan. The company's financial stability and adherence to corporate governance practices reflect positively on its operational management and strategic planning.