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Sugar & Allied Industries

BAFS Baba Farid Sugar Mills Limited

Latest results: FY2025 · Sep 2025 Q3 FY2026 · Apr – Jun 2026

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Last close · 16 Oct 2026

Rs 430.21 0.00%

Annual · FY2006 – FY2025

Baba Farid Sugar Mills Limited (BAFS) balance sheet

At the end of FY2025 (Oct 2024 – Sep 2025) Baba Farid Sugar Mills Limited had total assets of Rs 6.5 bn, up 4.6% on FY2024. Current assets of Rs 1.3 bn covered current liabilities of Rs 999.9 mn 1.25 times. Total debt was Rs 462.8 mn, net debt Rs 5.6 mn. Shareholders' equity was Rs 5.3 bn (Rs 555.96 per share), 80.8% of total assets.

BAFS balance sheet (annual) (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 * Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Assets
Cash & short-term investments 457.3 84.1 116.8 225.5 127.3
Trade receivables 21.8 3.4 0.0 8.3 4.6
Inventories 330.2 2,150.4 916.7 677.8 133.0
Other current assets — — — — —
Total current assets 1,252.8 2,764.6 1,398.6 1,151.1 536.0
Property, plant & equipment 5,252.1 3,453.7 3,513.9 3,569.8 2,943.2
Other non-current assets 0.4 0.6 0.5 1.9 1.3
Total non-current assets 5,252.5 3,454.4 3,514.4 3,571.7 2,944.5
Total assets 6,505.3 6,219.0 4,913.1 4,722.7 3,480.6
Liabilities
Trade payables 348.4 197.4 213.1 189.8 416.5
Short-term borrowings & current portion of debt 236.8 2,392.4 280.0 640.3 338.6
Total current liabilities 999.9 3,248.0 1,207.2 1,202.4 1,003.0
Long-term debt 226.1 356.2 472.2 328.0 306.8
Other non-current liabilities 25.5 25.3 17.7 11.5 377.3
Total non-current liabilities 251.5 381.4 489.9 339.5 684.1
Total liabilities 1,251.4 3,629.5 1,697.1 1,541.9 1,687.1
Equity
Share capital 94.5 94.5 94.5 94.5 94.5
Reserves & retained earnings 5,159.4 2,495.0 3,121.5 3,086.4 1,698.9
Equity attributable to shareholders 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Non-controlling interest 0.0 0.0 0.0 0.0 0.0
Total equity 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Total liabilities & equity 6,505.3 6,219.0 4,913.1 4,722.7 3,480.6
Key figures
Total debt 462.8 2,748.6 752.2 968.3 645.4
Net debt / (net cash) 5.6 2,664.5 635.3 742.8 518.1
Shares outstanding mn 9.5 9.5 9.5 9.4 9.5
Common equity 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Book value per share (Rs) Rs 555.96 274.02 340.32 336.78 189.78
BAFS balance sheet — year-on-year change (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 * Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Assets
Cash & short-term investments +443.7% -28.0% -48.2% +77.2% -64.3%
Trade receivables +547.8% — -100.0% +80.4% -47.2%
Inventories -84.6% +134.6% +35.2% +409.8% -60.4%
Other current assets — — — — —
Total current assets -54.7% +97.7% +21.5% +114.7% -40.3%
Property, plant & equipment +52.1% -1.7% -1.6% +21.3% +4.0%
Other non-current assets -38.0% +19.9% -71.8% +39.3% +666.2%
Total non-current assets +52.1% -1.7% -1.6% +21.3% +4.0%
Total assets +4.6% +26.6% +4.0% +35.7% -6.7%
Liabilities
Trade payables +76.5% -7.4% +12.3% -54.4% -45.5%
Short-term borrowings & current portion of debt -90.1% +754.5% -56.3% +89.1% +126.8%
Total current liabilities -69.2% +169.1% +0.4% +19.9% -8.8%
Long-term debt -36.5% -24.6% +44.0% +6.9% -66.0%
Other non-current liabilities +0.7% +42.8% +53.4% -96.9% +0.3%
Total non-current liabilities -34.1% -22.1% +44.3% -50.4% -46.4%
Total liabilities -65.5% +113.9% +10.1% -8.6% -29.0%
Equity
Share capital 0.0% 0.0% 0.0% 0.0% 0.0%
Reserves & retained earnings +106.8% -20.1% +1.1% +81.7% +35.2%
Equity attributable to shareholders +102.9% -19.5% +1.1% +77.4% +32.7%
Non-controlling interest — — — — —
Total equity +102.9% -19.5% +1.1% +77.4% +32.7%
Total liabilities & equity +4.6% +26.6% +4.0% +35.7% -6.7%
Key figures
Total debt -83.2% +265.4% -22.3% +50.0% -38.6%
Net debt / (net cash) -99.8% +319.4% -14.5% +43.4% -25.3%
Shares outstanding — — — — —
Common equity +102.9% -19.5% +1.1% +77.4% +32.7%
Book value per share (Rs) +102.9% -19.5% +1.1% +77.5% +32.7%

Change against the previous fiscal year; shown when the earlier figure is positive.

BAFS balance sheet — common size (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 * Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Assets
Cash & short-term investments 7.0% 1.4% 2.4% 4.8% 3.7%
Trade receivables 0.3% 0.1% 0.0% 0.2% 0.1%
Inventories 5.1% 34.6% 18.7% 14.4% 3.8%
Other current assets — — — — —
Total current assets 19.3% 44.5% 28.5% 24.4% 15.4%
Property, plant & equipment 80.7% 55.5% 71.5% 75.6% 84.6%
Other non-current assets 0.0% 0.0% 0.0% 0.0% 0.0%
Total non-current assets 80.7% 55.5% 71.5% 75.6% 84.6%
Total assets 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities
Trade payables 5.4% 3.2% 4.3% 4.0% 12.0%
Short-term borrowings & current portion of debt 3.6% 38.5% 5.7% 13.6% 9.7%
Total current liabilities 15.4% 52.2% 24.6% 25.5% 28.8%
Long-term debt 3.5% 5.7% 9.6% 6.9% 8.8%
Other non-current liabilities 0.4% 0.4% 0.4% 0.2% 10.8%
Total non-current liabilities 3.9% 6.1% 10.0% 7.2% 19.7%
Total liabilities 19.2% 58.4% 34.5% 32.6% 48.5%
Equity
Share capital 1.5% 1.5% 1.9% 2.0% 2.7%
Reserves & retained earnings 79.3% 40.1% 63.5% 65.4% 48.8%
Equity attributable to shareholders 80.8% 41.6% 65.5% 67.4% 51.5%
Non-controlling interest 0.0% 0.0% 0.0% 0.0% 0.0%
Total equity 80.8% 41.6% 65.5% 67.4% 51.5%
Total liabilities & equity 100.0% 100.0% 100.0% 100.0% 100.0%
Key figures
Total debt 7.1% 44.2% 15.3% 20.5% 18.5%
Net debt / (net cash) 0.1% 42.8% 12.9% 15.7% 14.9%
Common equity 80.8% 41.6% 65.5% 67.4% 51.5%

Each line as a percentage of total assets.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 135
BAFS balance sheet — all reported line items (Rs mn)
Rs mn FY2025 Oct 2024 – Sep 2025 FY2024 Oct 2023 – Sep 2024 FY2023 Oct 2022 – Sep 2023 FY2022 Oct 2021 – Sep 2022 FY2021 Oct 2020 – Sep 2021
Cash & Cash Equivalents 457.3 83.8 116.8 225.5 26.9
Cash & Short Term Investments 457.3 84.1 116.8 225.5 127.3
Short-Term Investments - Total 0.0 0.3 0.0 0.0 100.4
Loans & Receivables - Net - Short-Term 464.1 529.3 362.6 246.0 274.1
Loans & Receivables - Total 464.1 529.3 362.6 246.0 274.1
Trade Accounts & Trade Notes Receivable - Net 21.8 3.4 0.0 8.3 4.6
Loans - Short-Term 397.4 446.9 317.3 186.7 135.4
Income Tax - Receivables - Short-Term 35.7 73.2 36.9 41.7 7.2
Receivables - Other - Total 9.2 5.7 8.3 9.4 126.9
Inventories - Total 330.2 2,150.4 916.7 677.8 133.0
Inventories - Raw Materials 245.4 207.8 189.9 142.2 128.6
Inventories - Work in Progress — — — — —
Inventories - Finished Goods — — — — —
Inventories - Other - Total 84.9 1,942.6 726.7 535.6 4.3
Prepaid Expenses - Short-Term 1.2 0.8 2.6 1.7 1.7
Investments - Total 0.0 0.3 0.0 0.0 100.4
Other Current Assets - Total — — — — —
Property, Plant & Equipment - Net - Total 5,252.1 3,453.7 3,513.9 3,569.8 2,943.2
Property, Plant & Equipment - Gross - Total — — — — —
Property, Plant & Equipment - Accumulated Depreciation & Impairment - Total — — — — —
Other Current Assets — — — — —
Other Assets - Total 0.4 0.6 0.5 1.9 1.3
Total Current Assets 1,252.8 2,764.6 1,398.6 1,151.1 536.0
Property, Plant & Equipment - excluding Assets Leased Out - Net - Total 5,252.1 3,453.7 3,513.9 3,569.8 2,943.2
Construction in Progress - Net 15.3 12.6 1.7 4.3 107.1
Right of Use Tangible Assets - Total - Net 5.4 13.8 20.1 14.8 —
Right of Use Tangible Assets - Capital/Finance Lease - Net 5.4 13.8 20.1 14.8 —
Property, Plant & Equipment - Other - Net 5,231.5 3,427.3 3,492.2 3,550.6 2,836.1
Property, Plant & Equipment - excluding Assets Leased Out - Gross — — — — —
Plant, Machinery & Equipment - Gross — — — — —
Construction in Progress - Gross — — — — —
Property, Plant & Equipment - Under Capital Lease - Gross — — — — —
Total Assets 6,505.3 6,219.0 4,913.1 4,722.7 3,480.6
Debt - Total 462.8 2,748.6 752.2 968.3 645.4
Short-Term Debt & Current Portion of Long-Term Debt 236.8 2,392.4 280.0 640.3 338.6
Property, Plant & Equipment - excluding Assets Leased Out - Accumulated Depreciation & Impairment - Total — — — — —
Current Portion of Long-Term Debt including Capitalized Leases 132.0 333.4 180.0 200.3 318.3
Capitalized Leases - Current Portion 123.0 324.4 164.4 183.7 3.9
Short-Term Debt & Notes Payable 104.8 2,059.1 100.0 440.0 20.3
Debt - Long-Term - Total 226.1 356.2 472.2 328.0 306.8
Current Portion of Long-Term Debt excluding Capitalized Leases 9.0 9.0 15.6 16.7 314.4
Capitalized Lease Obligations - Long-Term 1.1 6.6 7.2 6.4 6.8
Long-Term Debt excluding Capitalized Leases 225.0 349.5 465.0 321.6 300.0
Other Non-Current Assets - Total 0.4 0.6 0.5 1.9 1.3
Debt - Non-Convertible - Long-Term 225.0 349.5 465.0 321.6 300.0
Dividends Payable 0.3 0.3 0.3 0.3 0.3
Deferred Tax - Asset - Long-Term — — — — —
Payables & Accrued Expenses 348.4 197.4 213.1 189.8 416.5
Trade Account Payables - Total 348.4 197.4 213.1 189.8 416.5
Other Non-Current Assets 0.4 0.6 0.5 1.9 1.3
Accrued Expenses — — — — —
Total Liabilities 1,251.4 3,629.5 1,697.1 1,541.9 1,687.1
Shareholders' Equity - Attributable to Parent Shareholders - Total 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Total Non-Current Assets 5,252.5 3,454.4 3,514.4 3,571.7 2,944.5
Common Equity Attributable to Parent Shareholders 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Common Equity - Contributed 94.5 94.5 94.5 94.5 94.5
Common Stock - Issued & Paid 94.5 94.5 94.5 94.5 94.5
Equity - Non-Contributed - Reserves & Retained Earnings 5,159.4 2,495.0 3,121.5 3,086.4 1,698.9
Retained Earnings - Total (2,157.1) (3,025.0) (2,452.5) (2,546.0) (2,494.6)
Trade Accounts Payable & Accruals - Short-Term 348.4 197.4 213.1 189.8 416.5
Comprehensive Income - Accumulated - Total 4,313.8 2,517.3 2,571.3 2,629.6 1,890.9
Trade Accounts & Trade Notes Payable - Short-Term 348.4 197.4 213.1 189.8 416.5
Accrued Expenses - Short-Term — — — — —
Other Reserves/Equity - Total 3,002.7 3,002.7 3,002.7 3,002.7 2,302.7
Income Taxes - Payable - Short-Term — — — — 0.0
Dividends/Distributions Payable 0.3 0.3 0.3 0.3 0.3
Other Current Liabilities - Total 414.5 658.0 713.8 371.9 247.6
Common Equity - Total 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Deferred Income - Short-Term 135.9 241.8 408.5 73.5 —
Total Shareholders' Equity - including Minority Interest & Hybrid Debt 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Total Liabilities & Equity 6,505.3 6,219.0 4,913.1 4,722.7 3,480.6
Other Current Liabilities 278.6 416.2 305.3 298.4 247.6
Revaluation Reserves 4,313.8 2,517.3 2,571.3 2,629.6 1,890.9
Total Current Liabilities 999.9 3,248.0 1,207.2 1,202.4 1,003.0
Other Non-Current Liabilities - Total 25.5 25.3 17.7 11.5 377.3
Other Non-Current Liabilities 25.5 25.3 17.7 11.5 377.3
Total Non-Current Liabilities 251.5 381.4 489.9 339.5 684.1
Common Shares - Issued - Total mn 9.5 9.5 9.5 9.5 9.5
Common Shares - Outstanding - Total mn 9.5 9.5 9.5 9.4 9.5
Common Shares - Treasury - Total mn 0.0 0.0 0.0 0.0 0.0
Common Shares - Authorized - Issue Specific mn 70.0 70.0 70.0 70.0 70.0
Common Shares - Issued - Issue Specific mn 9.5 9.5 9.5 9.5 9.5
Common Shares - Outstanding - Issue Specific mn 9.5 9.5 9.5 9.4 9.5
Common Shares - Treasury - Issue Specific mn 0.0 0.0 0.0 0.0 0.0
Asset Allocation Factor - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00×
Right of Use Tangible Assets - Total - Net - Supplemental 5.4 13.8 20.1 14.8 —
Right of Use Tangible Assets - Capital/Finance Lease - Net - Supplemental 5.4 13.8 20.1 14.8 —
Property, Plant & Equipment - excluding Right of Use Tangible Assets & Capital Leases - Net - Supplemental 5,246.8 3,439.9 3,493.8 3,555.0 —
Property, Plant & Equipment - excluding Right of Use Tangible Assets & Capital Leases - Gross - Supplemental — — — — —
Finance and Operating Lease Liabilities - Total - Supplemental 124.1 331.0 171.6 190.0 10.7
Debt including Finance and Operating Lease Liabilities - Supplemental 462.8 2,748.6 752.2 968.3 645.4
Net Debt 5.6 2,664.5 635.3 742.8 518.1
Debt - Long-Term - Maturities - Total — — — — —
Debt - Long-Term - Maturities - within 1 Year — — — — —
Debt - Long-Term - Maturities - Remaining — — — — —
Capital Lease Maturities - Total — — — — —
Capital Lease Maturities - Due within 1 Year — — — — —
Debt - Long-Term - Maturities - Year 6 & Beyond — — — — —
Capital Lease Maturities - Due in Year 5 — — — — —
Capital Lease Maturities - Due in 4-5 Years — — — — —
Asset Accruals 6,048.0 6,135.2 4,796.3 4,497.2 3,453.6
Cash & Cash Equivalents - Total 457.3 83.8 116.8 225.5 26.9
Cash & Short Term Investments - Total 457.3 84.1 116.8 225.5 127.3
Debt - including Preferred Equity & Minority Interest - Total 462.8 2,748.6 752.2 968.3 645.4
Net Book Capital 5,259.4 5,254.0 3,851.4 3,923.6 2,311.6
Net Operating Assets 5,259.4 5,254.0 3,851.4 3,923.6 2,311.6
Shareholders Equity - Common 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Tangible Total Equity 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Tangible Book Value 5,253.9 2,589.5 3,216.0 3,180.9 1,793.4
Total Book Capital 5,716.7 5,338.1 3,968.2 4,149.2 2,438.9
Total Capital 5,716.7 5,338.1 3,968.2 4,149.2 2,438.9
Total Long Term Capital 5,505.4 2,970.9 3,705.9 3,520.4 2,477.5
Unearned Revenue - Total 135.9 241.8 408.5 73.5 —
Book Value excluding Other Equity 2,251.2 (413.2) 213.3 178.2 (509.3)
Income Taxes - Payable - Long-Term & Short-Term — — — — 0.0
Contract Liabilities - Short-Term - Advance Consideration & Progress Billings in Excess of Unbilled Revenue 135.9 241.8 408.5 73.5 —
Accruals - Short-Term (204.4) (567.2) 74.7 (276.8) (493.9)
Cash & Short Term Investments - Net of Debt (5.6) (2,664.5) (635.3) (742.8) (518.1)
Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments 132.0 333.4 180.0 200.3 318.3
Total Fixed Assets - Net 5,252.5 3,454.4 3,514.4 3,571.7 2,944.5
Working Capital 252.9 (483.4) 191.5 (51.3) (467.0)
Interest Bearing Liabilities - Total 462.8 2,748.6 752.2 968.3 645.4
Working Capital - Non-Cash (204.4) (567.5) 74.7 (276.8) (594.3)
Working Capital excluding Other Current Assets & Liabilities 667.4 174.6 905.3 320.7 (219.4)
Net Debt Including Preferred Equity & Minority Interest 5.6 2,664.5 635.3 742.8 518.1
Other Short-Term & Long-Term Assets - Total 0.4 0.6 0.5 1.9 1.3
Other Short-Term & Long-Term Liabilities - Total 440.0 683.3 731.5 383.5 624.9
Total Current Assets excluding Total Inventories 922.5 614.2 482.0 473.3 403.1
Tangible Book Value excluding Other Equity 2,251.2 (413.2) 213.3 178.2 (509.3)
Total Debt Excluding Islamic 462.8 2,748.6 752.2 968.3 645.4
Trade Accounts & Trade Notes Receivable - Net - Total 21.8 3.4 0.0 8.3 4.6
Current Liabilities excluding Current Debt - Total 763.1 855.6 927.2 562.0 664.4
Cash in Hand & with Banks - Total 457.3 83.8 116.8 225.5 26.9
Current Assets excluding Cash & Short Term Investments - Total 795.5 2,680.5 1,281.8 925.5 408.7
Cash, Short Term Investments & Accounts Receivable - Total 479.0 87.5 116.8 233.8 131.9

Every line the company reported, in the original order and wording, without regrouping or signs changed.