Al Noor Sugar Mills Limited reported loss per share of PKR 2.20 in SY24, as compared to earning per share of PKR 14.4 in SY23. In 1QSY25, the company reported a loss per share of PKR 2.11, as compared to earning per share of PKR 23.00 in 1QSY24. Total crushing during SY24 was 1.1mn MT out of which 119,117 M.T of sugar was produced with a recovery rate of 10.73%. This was the highest ever sugar production as compared to last few years.
During the last year cane cost was high due to high debt financing cost and there was surplus production in the economy. The management stated that yield per acre has been reduced by 20-25%, additionally recovery of sucrose is reduced by 1 degree. In 1st quarter, crushing was less as compared to last year.
Actual crushing till Dec 24 was 202,650 M.T as compared to 411,996 M.T last year. Sugar production was also reduced to 16,660 M.T as compared to 40,060 in SPLY. They also anticipate shortage of around 1 Mn metric tons this year. The management stated that the average cane price is PKR 450 per maund and they anticipate that sugar cost will be around PKR 165 per kg.
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