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Karachi, Khairpur Sugar Mills Limited, part of the Jumani Group of Companies, has released its financial highlights and operational trends, emphasizing its journey and growth in the sugar industry. The company’s financial report, presented at a corporate briefing session, outlines key aspects of its operational and financial performance over recent years.
Muhammad Mubeen Jumani, Chairman of Jumani Group of Companies and a notable figure in the construction industry, founded Khairpur Sugar Mills Limited in 1989 in Sindh. The mill started with a crushing capacity of 4,000 TCD and has since expanded to 7,000 TCD. Under his leadership, the company has seen significant growth, paying off all long-term loans on the project.
Faraz Mubeen Jumani, educated in the United States and holding a Master in Business Administration, joined Khairpur Sugar Mills Limited (KSML) in 2012. He was promoted to Managing Director in 2014 and later appointed as Chief Executive Officer in 2021. His leadership continues to drive the company’s growth.
The company’s operational trends for 2023 show a decrease in sugarcane crushed and sugar produced compared to 2022, with a total of 483,068 M. Tons of sugarcane crushed and 48,635 M. Tons of sugar produced. Despite this, the company maintained an average sucrose recovery rate of 10.07%. The balance sheet highlights an increase in shareholders’ equity from 2022, showcasing a strong financial position.
Financial trends indicate a turnover of 4,487.20 million in 2023, with a gross profit of 796.9 million. The company’s liquidity ratios, including the current ratio and quick/acid test ratio, have shown improvements over the previous year, reflecting better financial stability.
Khairpur Sugar Mills Limited has achieved several milestones over the years, including its highest sugar production and exports in 2017-18, and a significant increase in crushing capacity. The company’s continuous growth and adaptation to market demands are evident in its financial and operational performance.