DWSM Dewan Sugar Mills Limited
Latest results: FY2025 · Sep 2025 Q3 FY2026 · Apr – Jun 2026
Last close · 16 Oct 2026
Rs 8.07 -5.94%
Annual · FY2007 – FY2025
Dewan Sugar Mills Limited (DWSM) income statement
Dewan Sugar Mills Limited reported revenue of Rs 1.3 bn for FY2025 (Oct 2024 – Sep 2025), down 47.8% on FY2024. Gross profit came to -Rs 994.9 mn, a gross margin of -76.7%. Operating profit was -Rs 605.5 mn (an operating margin of -46.7%). The loss attributable to shareholders was Rs 572.4 mn, or Rs -6.25 per share.
| 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 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,296.9 | 2,483.4 | 6,206.8 | 8,454.8 | 5,958.7 | ||||||||||||||
| Cost of revenue | (2,291.8) | (2,937.0) | (6,291.6) | (8,594.6) | (6,497.2) | ||||||||||||||
| Gross profit | (994.9) | (453.6) | (84.8) | (139.8) | (538.5) | ||||||||||||||
| Selling, general & administrative expenses | (93.6) | (198.4) | (302.3) | (246.6) | (215.9) | ||||||||||||||
| Operating profit | (605.5) | (592.9) | (852.2) | (779.4) | (764.3) | ||||||||||||||
| Finance cost | — | — | — | 0.0 | (0.1) | ||||||||||||||
| Profit before tax | (676.6) | (693.1) | (899.4) | (822.1) | (802.3) | ||||||||||||||
| Taxation | 104.3 | 84.2 | 35.7 | 63.3 | 7.2 | ||||||||||||||
| Profit after tax | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) | ||||||||||||||
| Profit attributable to shareholders | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) | ||||||||||||||
| Per share & other | |||||||||||||||||||
| EPS – basic (Rs) Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) | ||||||||||||||
| EPS – diluted (Rs) Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) | ||||||||||||||
| Dividend per share (Rs) Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||
| EBITDA | (191.4) | (231.1) | (388.8) | (201.8) | (405.3) | ||||||||||||||
| Depreciation & amortisation | 414.1 | 361.8 | 463.4 | 577.6 | 359.0 | ||||||||||||||
| Weighted average shares mn | 91.5 | 91.5 | 91.5 | 91.5 | 91.5 | ||||||||||||||
| 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 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -47.8% | -60.0% | -26.6% | +41.9% | +55.8% | ||||||||||||||
| Cost of revenue | -22.0% | -53.3% | -26.8% | +32.3% | +45.5% | ||||||||||||||
| Gross profit | — | — | — | — | — | ||||||||||||||
| Selling, general & administrative expenses | -52.8% | -34.4% | +22.6% | +14.2% | +0.2% | ||||||||||||||
| Operating profit | — | — | — | — | — | ||||||||||||||
| Finance cost | — | — | — | -100.0% | -88.3% | ||||||||||||||
| Profit before tax | — | — | — | — | — | ||||||||||||||
| Taxation | — | — | — | — | — | ||||||||||||||
| Profit after tax | — | — | — | — | — | ||||||||||||||
| Profit attributable to shareholders | — | — | — | — | — | ||||||||||||||
| Per share & other | |||||||||||||||||||
| EPS – basic (Rs) | — | — | — | — | — | ||||||||||||||
| EPS – diluted (Rs) | — | — | — | — | — | ||||||||||||||
| Dividend per share (Rs) | — | — | — | — | — | ||||||||||||||
| EBITDA | — | — | — | — | — | ||||||||||||||
| Depreciation & amortisation | +14.4% | -21.9% | -19.8% | +60.9% | +1.0% | ||||||||||||||
| Weighted average shares | — | — | — | — | — | ||||||||||||||
Change against the previous fiscal year; shown when the earlier figure is positive.
| 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 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||||||||||
| Cost of revenue | (176.7%) | (118.3%) | (101.4%) | (101.7%) | (109.0%) | ||||||||||||||
| Gross profit | (76.7%) | (18.3%) | (1.4%) | (1.7%) | (9.0%) | ||||||||||||||
| Selling, general & administrative expenses | (7.2%) | (8.0%) | (4.9%) | (2.9%) | (3.6%) | ||||||||||||||
| Operating profit | (46.7%) | (23.9%) | (13.7%) | (9.2%) | (12.8%) | ||||||||||||||
| Finance cost | — | — | — | 0.0% | (0.0%) | ||||||||||||||
| Profit before tax | (52.2%) | (27.9%) | (14.5%) | (9.7%) | (13.5%) | ||||||||||||||
| Taxation | 8.0% | 3.4% | 0.6% | 0.7% | 0.1% | ||||||||||||||
| Profit after tax | (44.1%) | (24.5%) | (13.9%) | (9.0%) | (13.3%) | ||||||||||||||
| Profit attributable to shareholders | (44.1%) | (24.5%) | (13.9%) | (9.0%) | (13.3%) | ||||||||||||||
| Per share & other | |||||||||||||||||||
| EBITDA | (14.8%) | (9.3%) | (6.3%) | (2.4%) | (6.8%) | ||||||||||||||
| Depreciation & amortisation | 31.9% | 14.6% | 7.5% | 6.8% | 6.0% | ||||||||||||||
Each line as a percentage of revenue.
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. Updated 16 Oct 2026.
All reported line items 110
| 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 |
|---|---|---|---|---|---|
| Revenue from Goods & Services | 1,296.9 | 2,483.4 | 6,206.8 | 8,454.8 | 5,958.7 |
| Sales of Goods & Services - Net - Unclassified | 1,296.9 | 2,483.4 | 6,206.8 | 8,454.8 | 5,958.7 |
| Sales Returns, Allowances & Other Revenue Adjustments | — | — | — | — | — |
| Revenue Taxes | — | — | — | — | — |
| Gross Revenue from Business Activities - Total | — | — | — | — | — |
| Revenue from Business Activities - Total | 1,296.9 | 2,483.4 | 6,206.8 | 8,454.8 | 5,958.7 |
| Cost of Operating Revenue | 2,291.8 | 2,937.0 | 6,291.6 | 8,594.6 | 6,497.2 |
| Cost of Revenues - Total | 2,291.8 | 2,937.0 | 6,291.6 | 8,594.6 | 6,497.2 |
| Cost of Revenues - Unclassified | 1,889.3 | 2,585.5 | 5,838.7 | 8,021.6 | 6,142.9 |
| Selling, General & Administrative Expenses - Total | 93.6 | 198.4 | 302.3 | 246.6 | 215.9 |
| Selling, General & Administrative Expenses - Unclassified | 82.0 | 188.2 | 291.8 | 242.1 | 211.2 |
| Depreciation in Cost of Revenues | 402.5 | 351.5 | 452.9 | 573.0 | 354.3 |
| Depreciation in Selling, General & Administrative Expenses | 11.6 | 10.3 | 10.6 | 4.5 | 4.7 |
| Other Operating Expense/(Income) - Net | (483.0) | (59.1) | 465.1 | 392.9 | 9.9 |
| Other Operating Income - Total | 497.3 | 69.8 | — | — | 0.0 |
| Gross Profit - Industrials/Property - Total | (994.9) | (453.6) | (84.8) | (139.8) | (538.5) |
| Operating Expenses - Total | 1,902.4 | 3,076.4 | 7,059.0 | 9,234.1 | 6,723.0 |
| Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses | — | — | — | — | — |
| Operating Profit before Non-Recurring Income/(Expense) | (605.5) | (592.9) | (852.2) | (779.4) | (764.3) |
| Financing Income/(Expense) - Net - Total | (50.9) | (66.8) | (47.2) | (42.7) | (38.1) |
| Interest Expense - Net of (Interest Income) | — | — | — | 0.0 | (0.6) |
| Other Operating Expense | — | — | 459.9 | 390.6 | — |
| Interest Expense - Net of Capitalized Interest | — | — | — | 0.0 | 0.1 |
| Non-Interest Financial Income/(Expense) - Total | (50.9) | (66.8) | (47.2) | (42.7) | (38.6) |
| Provision for Decommissioning Fund & Environmental Obligations | 14.3 | 10.7 | 5.2 | 2.3 | 9.9 |
| Non-Interest Financial Income/(Expense) - Other - Net | (50.9) | (66.8) | (47.2) | (42.7) | (38.6) |
| Sale of Tangible & Intangible Fixed Assets - Gain/Loss | — | — | — | — | — |
| Other Non-Operating Income/(Expense) - Total | (20.2) | (18.6) | — | — | — |
| Normalized Pre-tax Profit | (676.6) | (678.4) | (899.4) | (822.1) | (802.3) |
| Non-Recurring Income/Expense - Total | — | (14.8) | — | — | — |
| Impairment - Tangible & Intangible Fixed Assets | — | 14.8 | — | — | — |
| Impairment - Fixed Assets | — | 14.8 | — | — | — |
| Interest Income - Non-Bank | — | — | — | — | 0.7 |
| Interest Expense on Capital Financing - Gross | — | — | — | — | — |
| Sale of Investments Held for Sale, Maturity & Trading - Gain/(Loss) | — | — | — | — | — |
| Provision for Income Tax Expense- Unclassified | (104.3) | (84.2) | (35.7) | (63.3) | (7.2) |
| Income before Taxes | (676.6) | (693.1) | (899.4) | (822.1) | (802.3) |
| Income Taxes | (104.3) | (84.2) | (35.7) | (63.3) | (7.2) |
| Income Taxes for the Year - Current | — | — | — | — | — |
| Income Taxes - Domestic - Current | — | — | — | — | — |
| Income Taxes - Deferred | — | — | — | — | — |
| Income Taxes - Domestic - Deferred | — | — | — | — | — |
| Net Income after Tax | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Income before Discontinued Operations & Extraordinary Items | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Net Income before Minority Interest | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Net Income after Minority Interest | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Income Available to Common Shares | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| DPS - Common - Gross - Issue - By Period End Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income - Basic - including Extraordinary Items Applicable to Common - Total | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Income available to Common excluding Extraordinary Items | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Shares used to calculate Basic EPS - Total mn | 91.5 | 91.5 | 91.5 | 91.5 | 91.5 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs | (6.25) | (6.49) | (9.44) | (8.29) | (8.69) |
| Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Earnings Allocation Factor - Basic - Issue Specific | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× |
| Shares used to calculate Basic EPS - Issue Specific mn | 91.5 | 91.5 | 91.5 | 91.5 | 91.5 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs | (6.25) | (6.49) | (9.44) | (8.29) | (8.69) |
| EPS - Basic from Discontinued Operations & Extraordinary Items Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dilution Adjustment | — | — | — | — | — |
| Net Income - Diluted - including Extraordinary Items Applicable to Common - Total | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Diluted Income available to Common excluding Extraordinary Items | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Shares used to calculate Diluted EPS - Total mn | 91.5 | 91.5 | 91.5 | 91.5 | 91.5 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs | (6.25) | (6.49) | (9.44) | (8.29) | (8.69) |
| Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific | (572.4) | (608.9) | (863.7) | (758.8) | (795.1) |
| Earnings Allocation Factor - Diluted - Issue Specific | 1.00× | 1.00× | 1.00× | 1.00× | 1.00× |
| Shares used to calculate Diluted EPS - Issue Specific mn | 91.5 | 91.5 | 91.5 | 91.5 | 91.5 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | (6.25) | (6.65) | (9.44) | (8.29) | (8.69) |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs | (6.25) | (6.49) | (9.44) | (8.29) | (8.69) |
| EPS - Diluted from Discontinued Operations & Extraordinary Items Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Gross - Issue - By Announcement Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Net - Issue - By Announcement Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Earnings before Interest & Taxes (EBIT) | (605.5) | (592.9) | (852.2) | (779.4) | (764.3) |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) | (191.4) | (231.1) | (388.8) | (201.8) | (405.3) |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) and Operating Lease Payments | — | — | — | — | — |
| Depreciation & Amortization - Supplemental | 414.1 | 361.8 | 463.4 | 577.6 | 359.0 |
| Depreciation Expense - Total - Supplemental | 414.1 | 361.8 | 463.4 | 577.6 | 359.0 |
| Amortization - Total - Supplemental | — | — | — | — | — |
| Depreciation, Depletion & Amortization - Total | 414.1 | 361.8 | 463.4 | 577.6 | 359.0 |
| Depreciation - Total | 414.1 | 361.8 | 463.4 | 577.6 | 359.0 |
| Amortization of Intangible Assets including Goodwill - Total | — | — | — | — | — |
| Labor & Related Expenses - Total | — | — | — | — | — |
| Labor & Related Expenses - Supplemental | — | — | — | — | — |
| Auditor Fees | — | — | — | — | — |
| Audit-Related Fees | — | — | — | — | — |
| Normalized after Tax Profit | (572.4) | (594.2) | (863.7) | (758.8) | (795.1) |
| Normalized Net Income from Continuing Operations | (572.4) | (594.2) | (863.7) | (758.8) | (795.1) |
| Normalized Net Income - Bottom Line | (572.4) | (594.2) | (863.7) | (758.8) | (795.1) |
| Earnings before Interest & Taxes (EBIT) - Normalized | (676.6) | (678.4) | (899.4) | (822.1) | (802.9) |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized | (262.6) | (316.5) | (436.0) | (244.5) | (443.9) |
| Rental/Operating Lease Expense | — | — | — | — | — |
| Interest Expense | — | — | — | 0.0 | 0.1 |
| Operating Expenses | 1,902.4 | 3,076.4 | 7,059.0 | 9,234.1 | 6,723.0 |
| Selling, General & Administrative Expenses excluding Research & Development Expenses | 93.6 | 198.4 | 302.3 | 246.6 | 215.9 |
| Income before Taxes & Provision for Loan Losses | (676.6) | (693.1) | (899.4) | (822.1) | (802.3) |
| Cost of Revenue including Operation & Maintenance (Utility) - Total | 2,291.8 | 2,937.0 | 6,291.6 | 8,594.6 | 6,497.2 |
| Cost of Revenues excluding Depreciation | 1,889.3 | 2,585.5 | 5,838.7 | 8,021.6 | 6,142.9 |
| DPS - Common - Gross - Issue - By Payable Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| DPS - Common - Gross - Issue - By Ex Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax Adjusted Operating Income | — | — | — | — | — |
| Operating Expenses excluding Non-Cash Charges - Total | 1,488.3 | 2,714.5 | 6,595.6 | 8,656.5 | 6,364.0 |
| Income Available to Common Shares before Depreciation & Amortization | (158.3) | (247.1) | (400.2) | (181.2) | (436.1) |
| Fixed Charges | — | — | — | — | 0.1 |
| Estimated Tax Rate | 0.29× | 0.29× | 0.29× | 0.29× | 0.29× |
| Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Every line the company reported, in the original order and wording, without regrouping or signs changed.