SHJS Shahtaj Sugar Mills Limited
Latest results: FY2025 · Sep 2025 Q3 FY2026 · Apr – Jun 2026
Last close · 16 Oct 2026
Rs 159.99 -0.63%
Quarterly · Q4 FY2021 – Q3 FY2026
Shahtaj Sugar Mills Limited (SHJS) quarterly cash flow statement
Operating activities generated Rs 902.9 mn of cash in Q3 FY2026 (Apr – Jun 2026), down 38.3% on Q3 FY2025. Capital expenditure was Rs 2.2 mn, leaving free cash flow of Rs 900.7 mn. Dividends paid to shareholders came to Rs 0. Overall, cash decreased by Rs 248.3 mn.
| Rs mn | TTM to Jun 2026 | Q3 FY2026 Apr – Jun 2026 | Q2 FY2026 Jan – Mar 2026 | Q1 FY2026 Oct – Dec 2025 | Q4 FY2025 Jul – Sep 2025 | Q3 FY2025 Apr – Jun 2025 | Q2 FY2025 Jan – Mar 2025 | Q1 FY2025 Oct – Dec 2024 | Q4 FY2024 Jul – Sep 2024 | Q3 FY2024 Apr – Jun 2024 | Q2 FY2024 Jan – Mar 2024 | Q1 FY2024 Oct – Dec 2023 | Q4 FY2023 Jul – Sep 2023 | Q3 FY2023 Apr – Jun 2023 | Q2 FY2023 Jan – Mar 2023 | Q1 FY2023 Oct – Dec 2022 | Q4 FY2022 Jul – Sep 2022 | Q3 FY2022 Apr – Jun 2022 | Q2 FY2022 Jan – Mar 2022 | Q1 FY2022 Oct – Dec 2021 | Q4 FY2021 Jul – Sep 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | 23.6 | (270.5) | 225.2 | 29.4 | 39.5 | 76.5 | (12.9) | 35.6 | (170.7) | (188.7) | (132.7) | 428.3 | 280.5 | 157.4 | 156.5 | 67.4 | (97.1) | (40.4) | 66.1 | 156.8 | 152.0 |
| Depreciation & amortisation | 123.9 | 38.4 | 39.2 | 37.3 | 8.9 | 9.0 | 8.9 | 8.9 | 9.5 | 9.5 | 9.4 | 9.2 | 9.6 | 8.7 | 8.8 | 8.9 | 16.3 | 6.8 | 7.5 | 6.1 | 7.2 |
| Net cash from operating activities | (3,217.2) | 902.9 | (3,882.4) | (1,302.3) | 1,064.6 | 1,463.7 | (1,642.7) | (236.3) | 967.6 | 1,195.3 | (2,312.5) | (489.0) | 901.2 | 793.5 | 337.4 | (77.7) | 680.6 | 359.7 | (1,553.3) | (662.1) | 1,082.7 |
| Investing activities | |||||||||||||||||||||
| Capital expenditure | (254.8) | (2.2) | (30.8) | (119.6) | (102.2) | (70.5) | (326.9) | (209.5) | (163.4) | (311.4) | (284.9) | (338.5) | (197.2) | (47.7) | (126.2) | (38.9) | (99.1) | (30.2) | (1.5) | (3.1) | (8.5) |
| Net cash from investing activities | (257.1) | (7.3) | (29.9) | (112.2) | (107.7) | (68.0) | (321.9) | (207.3) | (162.2) | (311.9) | (283.0) | (331.5) | (271.9) | (53.9) | (95.7) | (26.6) | (82.8) | (31.4) | (0.5) | 7.6 | 3.3 |
| Financing activities | |||||||||||||||||||||
| Dividends paid | — | 0.0 | (13.9) | — | 0.0 | (0.0) | (0.0) | — | — | 0.0 | (149.7) | — | 0.0 | 0.0 | (0.0) | — | 0.0 | 0.0 | (54.7) | — | (0.0) |
| Borrowings raised / (repaid) | 3,388.0 | (1,143.9) | 4,085.4 | 1,445.8 | (999.2) | (1,441.3) | 2,043.4 | 269.5 | (574.9) | (907.5) | 2,624.8 | 913.5 | (608.2) | (709.4) | (230.5) | 94.6 | (730.3) | (330.0) | 1,005.8 | 1,406.2 | (1,154.8) |
| Net cash from financing activities | 3,374.1 | (1,143.9) | 4,071.5 | 1,445.8 | (999.2) | (1,441.3) | 2,043.4 | 269.5 | (574.9) | (907.5) | 2,475.1 | 913.5 | (608.2) | (709.4) | (230.5) | 94.6 | (730.3) | (330.0) | 951.2 | 1,406.2 | (1,154.8) |
| Net change in cash | (100.1) | (248.3) | 159.2 | 31.4 | (42.4) | (45.6) | 78.8 | (174.0) | 230.5 | (24.0) | (120.3) | 93.0 | 21.0 | 30.2 | 11.2 | (9.7) | (132.5) | (1.7) | (602.6) | 751.8 | (68.8) |
| Key figures | |||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | (3,471.9) | 900.7 | (3,913.2) | (1,421.9) | 962.4 | 1,393.2 | (1,969.6) | (445.7) | 804.2 | 884.0 | (2,597.3) | (827.5) | 704.0 | 745.8 | 211.2 | (116.6) | 581.5 | 329.5 | (1,554.7) | (665.1) | 1,074.3 |
| Rs mn | Q3 FY2026 Apr – Jun 2026 | Q2 FY2026 Jan – Mar 2026 | Q1 FY2026 Oct – Dec 2025 | Q4 FY2025 Jul – Sep 2025 | Q3 FY2025 Apr – Jun 2025 | Q2 FY2025 Jan – Mar 2025 | Q1 FY2025 Oct – Dec 2024 | Q4 FY2024 Jul – Sep 2024 | Q3 FY2024 Apr – Jun 2024 | Q2 FY2024 Jan – Mar 2024 | Q1 FY2024 Oct – Dec 2023 | Q4 FY2023 Jul – Sep 2023 | Q3 FY2023 Apr – Jun 2023 | Q2 FY2023 Jan – Mar 2023 | Q1 FY2023 Oct – Dec 2022 | Q4 FY2022 Jul – Sep 2022 | Q3 FY2022 Apr – Jun 2022 | Q2 FY2022 Jan – Mar 2022 | Q1 FY2022 Oct – Dec 2021 | Q4 FY2021 Jul – Sep 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||||||||||
| Profit (cash-flow starting line, as reported) | -453.6% | — | -17.4% | — | — | — | -91.7% | -160.9% | -219.9% | -184.8% | +535.1% | — | — | +136.6% | -57.0% | -163.9% | -211.8% | -30.3% | +402.4% | — |
| Depreciation & amortisation | +328.5% | +341.5% | +320.8% | -6.2% | -5.1% | -5.1% | -3.9% | -1.3% | +8.8% | +6.3% | +4.1% | -40.9% | +27.0% | +17.6% | +44.8% | +125.8% | -3.3% | +5.1% | -13.9% | — |
| Net cash from operating activities | -38.3% | — | — | +10.0% | +22.4% | — | — | +7.4% | +50.6% | -785.3% | — | +32.4% | +120.6% | — | — | -37.1% | -46.7% | — | — | +53.9% |
| Investing activities | ||||||||||||||||||||
| Capital expenditure | -96.9% | -90.6% | -42.9% | -37.5% | -77.4% | +14.8% | -38.1% | -17.2% | +552.7% | +125.8% | +770.5% | +99.0% | +58.0% | +8,560.7% | +1,166.3% | +1,070.5% | +639.5% | +71.6% | -92.7% | -49.5% |
| Net cash from investing activities | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -449.0% | -2,594.8% | — | -102.8% | — | — |
| Financing activities | ||||||||||||||||||||
| Dividends paid | -100.0% | +49,385.7% | — | — | — | -100.0% | — | — | — | +2,137,757.1% | — | — | — | -100.0% | — | -100.0% | -100.0% | +607,177.8% | — | -76.2% |
| Borrowings raised / (repaid) | — | +99.9% | +436.4% | — | — | -22.2% | -70.5% | — | — | — | +865.2% | — | — | -122.9% | -93.3% | — | — | -57.3% | +914.3% | — |
| Net cash from financing activities | — | +99.3% | +436.4% | — | — | -17.4% | -70.5% | — | — | — | +865.2% | — | — | -124.2% | -93.3% | — | — | -59.6% | +914.3% | — |
| Net change in cash | — | +102.0% | — | -118.4% | — | — | -287.2% | +995.4% | -179.5% | -1,176.0% | — | — | — | — | -101.3% | — | — | -3,374.6% | +934.5% | — |
| Key figures | ||||||||||||||||||||
| Free cash flow (operating cash flow − capex) | -35.3% | — | — | +19.7% | +57.6% | — | — | +14.2% | +18.5% | -1,329.6% | — | +21.1% | +126.3% | — | — | -45.9% | -50.9% | — | — | +56.5% |
Change against the same quarter a year earlier; shown when the earlier figure is positive.
Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. TTM = the latest four quarters added together. Updated 17 Oct 2026.
All reported line items 55
| Rs mn | Q3 FY2026 Apr – Jun 2026 | Q2 FY2026 Jan – Mar 2026 | Q1 FY2026 Oct – Dec 2025 | Q4 FY2025 Jul – Sep 2025 | Q3 FY2025 Apr – Jun 2025 | Q2 FY2025 Jan – Mar 2025 | Q1 FY2025 Oct – Dec 2024 | Q4 FY2024 Jul – Sep 2024 | Q3 FY2024 Apr – Jun 2024 | Q2 FY2024 Jan – Mar 2024 | Q1 FY2024 Oct – Dec 2023 | Q4 FY2023 Jul – Sep 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit/(Loss) - Starting Line - Cash Flow | (270.5) | 225.2 | 29.4 | 39.5 | 76.5 | (12.9) | 35.6 | (170.7) | (188.7) | (132.7) | 428.3 | 280.5 |
| Non-cash Items & Reconciliation Adjustments - Cash Flow | 325.3 | 250.2 | 158.0 | 110.7 | 107.9 | 119.9 | 68.0 | 143.6 | 242.9 | 230.1 | 52.0 | 119.9 |
| Equity Income/(Loss) in Net Earnings - Cash Flow - to Reconcile | 0.0 | (21.7) | — | (16.3) | 0.0 | (6.3) | — | (3.5) | 0.0 | (2.0) | — | (9.2) |
| Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile | 1.5 | 1.1 | 1.3 | 14.5 | 2.1 | 3.1 | 1.2 | 1.2 | 3.3 | 0.9 | 1.2 | 0.5 |
| Financial Income/(Expense) - Cash Flow - to Reconcile | 287.1 | 232.8 | 122.1 | 97.3 | 98.7 | 115.7 | 61.8 | 146.2 | 232.3 | 222.1 | 44.2 | 76.1 |
| Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile | 38.4 | 39.2 | 37.3 | 8.9 | 9.0 | 8.9 | 8.9 | 9.5 | 9.5 | 9.4 | 9.2 | 9.6 |
| Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile | 38.4 | 39.2 | 37.3 | 8.9 | 9.0 | 8.9 | 8.9 | 9.5 | 9.5 | 9.4 | 9.2 | 9.6 |
| Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile | 0.0 | 0.0 | (0.0) | 0.0 | 0.0 | 0.0 | (1.1) | 0.0 | (0.0) | 0.0 | (0.4) | (1.9) |
| Financial Assets - Unrealized Gain/(Loss) - Cash Flow - to Reconcile | (1.8) | (1.2) | (2.6) | 6.4 | (2.0) | (1.5) | (2.7) | (9.9) | (2.1) | (0.3) | (2.3) | 44.8 |
| Income Taxes - Paid/(Reimbursed) - Cash Flow | 14.5 | 98.4 | 60.3 | 61.9 | 87.9 | 65.6 | 37.3 | 36.1 | 57.0 | 58.1 | 30.2 | 5.1 |
| Interest Paid - Cash | 188.3 | 115.1 | 150.6 | 146.1 | 102.4 | — | 317.4 | 203.2 | 88.0 | 99.8 | 52.6 | 194.5 |
| Interest & Dividends - Received - Total - Cash Flow | — | — | — | — | — | 63.7 | — | — | — | — | — | — |
| Cash Flow from Operating Activities before Changes in Working Capital | (148.1) | 262.0 | (23.6) | (57.8) | (5.9) | 105.2 | (251.0) | (266.5) | (90.9) | (60.5) | 397.4 | 200.8 |
| Working Capital - Increase/(Decrease) - Cash Flow | 1,051.0 | (4,144.4) | (1,278.7) | 1,122.4 | 1,469.6 | (1,747.8) | 14.8 | 1,234.1 | 1,286.2 | (2,252.0) | (886.5) | 700.4 |
| Accounts Receivables - Decrease/(Increase) - Cash Flow | 177.9 | (336.4) | (160.5) | 179.2 | 71.8 | (247.3) | 104.5 | 63.3 | 203.5 | 32.3 | (369.0) | 119.1 |
| Inventories - Decrease/(Increase) - Cash Flow | 1,582.3 | (4,661.8) | (1,760.6) | 1,284.8 | 1,698.5 | (1,764.5) | (530.9) | 1,206.4 | 2,072.0 | (2,469.8) | (1,384.0) | 1,099.7 |
| Other Assets - Decrease/(Increase) - Cash Flow | 15.7 | (4.8) | (10.3) | (3.1) | 1.0 | 2.5 | (3.6) | 0.0 | 5.9 | (0.1) | (6.3) | 0.6 |
| Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow | (319.0) | 454.6 | 442.7 | (292.0) | (205.5) | 29.0 | 510.1 | (116.9) | (661.1) | (194.3) | 969.3 | (0.3) |
| Other Liabilities - Increase/(Decrease) -Total - Cash Flow | (405.8) | 404.0 | 210.0 | (46.5) | (96.2) | 232.4 | (65.3) | 81.2 | (334.1) | 379.9 | (96.5) | (518.7) |
| Net Cash Flow from Operating Activities | 902.9 | (3,882.4) | (1,302.3) | 1,064.6 | 1,463.7 | (1,642.7) | (236.3) | 967.6 | 1,195.3 | (2,312.5) | (489.0) | 901.2 |
| Capital Expenditures - Net - Cash Flow | 2.2 | 30.8 | 119.6 | 102.2 | 70.5 | 326.9 | 208.1 | 163.3 | 311.3 | 284.9 | 337.6 | 193.0 |
| Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow | 2.2 | 30.8 | 119.6 | 102.2 | 70.5 | 326.9 | 208.1 | 163.3 | 311.3 | 284.9 | 337.6 | 193.0 |
| Property, Plant & Equipment - Purchased - Cash Flow | 2.2 | 30.8 | 119.6 | 102.2 | 70.5 | 326.9 | 209.5 | 163.4 | 311.4 | 284.9 | 338.5 | 197.2 |
| Property, Plant & Equipment Sold - Cash Flow | — | 0.0 | 0.0 | 0.0 | 0.0 | — | 1.4 | 0.1 | 0.0 | 0.0 | 0.9 | 4.2 |
| Capital Expenditures - Total | 2.2 | 30.8 | 119.6 | 102.2 | 70.5 | 326.9 | 209.5 | 163.4 | 311.4 | 284.9 | 338.5 | 197.2 |
| Other Investing Cash Flow - Decrease/(Increase) | (5.1) | 0.9 | 7.4 | (5.6) | 2.6 | 5.1 | 0.8 | 1.1 | (0.5) | 1.9 | 6.1 | (78.8) |
| Net Cash Flow from Investing Activities | (7.3) | (29.9) | (112.2) | (107.7) | (68.0) | (321.9) | (207.3) | (162.2) | (311.9) | (283.0) | (331.5) | (271.9) |
| Dividends Paid - Cash - Total - Cash Flow | 0.0 | 13.9 | — | 0.0 | 0.0 | 0.0 | — | — | 0.0 | 149.7 | — | 0.0 |
| Dividends - Common - Cash Paid | 0.0 | 13.9 | — | 0.0 | 0.0 | 0.0 | — | — | 0.0 | 149.7 | — | 0.0 |
| Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow | (1,143.9) | 4,085.4 | 1,445.8 | (999.2) | (1,441.3) | 2,043.4 | 269.5 | (574.9) | (907.5) | 2,624.8 | 913.5 | (608.2) |
| Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow | (1,124.0) | 4,105.7 | 1,468.8 | (983.4) | (1,422.8) | 1,889.7 | 68.9 | (1,264.8) | (1,071.8) | 2,513.1 | 678.1 | (1,203.9) |
| Debt - Issued - Short-Term - Cash Flow | — | — | — | 150.0 | — | — | — | — | — | — | — | — |
| Debt - Reduced - Short-Term - Cash Flow | — | — | — | 1,133.4 | — | — | — | — | — | — | — | — |
| Debt - Issued/Reduced - Long-Term - Cash Flow | (19.9) | (20.3) | (23.0) | (15.8) | (18.5) | 153.7 | 200.6 | 689.9 | 164.3 | 111.7 | 235.4 | 595.7 |
| Lease liabilities - Issued/(Reduced) - Cash Flow | 0.0 | (0.2) | (5.2) | 2.2 | 0.0 | (0.5) | (4.9) | 3.0 | 0.0 | 0.4 | (4.7) | 0.6 |
| Debt - Issued - Long-Term - Cash Flow | — | — | — | 2.2 | — | 154.2 | 205.5 | 1,205.6 | 164.3 | 351.7 | 240.1 | 1,297.8 |
| Lease liabilities - Issued - Cash flow | — | — | — | 2.2 | — | — | — | 3.0 | — | 0.4 | — | 0.6 |
| Debt - Reduced - Long-Term - Cash Flow | 19.9 | 20.3 | 23.0 | 18.0 | 18.5 | 0.5 | 4.9 | 515.7 | 0.0 | 240.1 | 4.7 | 702.2 |
| Lease liabilities - Reduced - Cash flow represents cash outflow due to the repayment of lease liability/debt of the company. It includes finance leases, capitalized lease, and hire-purchase agreement. Applicable to all industries. If Lease liability issue | 0.0 | 0.2 | 5.2 | — | 0.0 | 0.5 | 4.9 | — | 0.0 | — | 4.7 | — |
| Other Financing Cash Flow - Increase/(Decrease) | — | — | — | — | — | — | — | 0.0 | — | — | — | — |
| Net Cash Flow from Financing Activities | (1,143.9) | 4,071.5 | 1,445.8 | (999.2) | (1,441.3) | 2,043.4 | 269.5 | (574.9) | (907.5) | 2,475.1 | 913.5 | (608.2) |
| Net Change in Cash - Total | (248.3) | 159.2 | 31.4 | (42.4) | (45.6) | 78.8 | (174.0) | 230.5 | (24.0) | (120.3) | 93.0 | 21.0 |
| Net Cash from Continuing Operations | (248.3) | 159.2 | 31.4 | (42.4) | (45.6) | 78.8 | (174.0) | 230.5 | (24.0) | (120.3) | 93.0 | 21.0 |
| Net Cash - Beginning Balance | 275.9 | 116.7 | 85.3 | 127.7 | 173.3 | 94.5 | 268.5 | 37.9 | 61.9 | 182.3 | 89.3 | 68.2 |
| Net Cash - Ending Balance | 27.6 | 275.9 | 116.7 | 85.3 | 127.7 | 173.3 | 94.5 | 268.5 | 37.9 | 61.9 | 182.3 | 89.3 |
| Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental | 14.5 | 98.4 | 60.3 | 61.9 | 87.9 | 65.6 | 37.3 | 36.1 | 57.0 | 58.1 | 30.2 | 5.1 |
| Interest Paid - Cash Flow - Supplemental | 188.3 | 115.1 | 150.6 | 146.1 | 102.4 | — | 317.4 | 203.2 | 88.0 | 99.8 | 52.6 | 194.5 |
| Interest & Dividends - Received - Cash Flow - Supplemental | — | — | — | — | — | 63.7 | — | — | — | — | — | — |
| CF from Optg Activities before Change in WC & Int Payments | 40.2 | 377.1 | 127.0 | 88.3 | 96.5 | 105.2 | 66.4 | (63.3) | (2.8) | 39.3 | 450.0 | 395.2 |
| Contract Assets - Decrease/(Increase) - Cash Flow | 58.7 | (243.1) | — | — | — | — | — | — | — | — | — | — |
| Contract Liabilities - Increase/(Decrease) - Cash Flow | (405.8) | 404.0 | 210.0 | (46.5) | (96.2) | 232.4 | (65.3) | 81.2 | (334.1) | 379.9 | (96.5) | (518.7) |
| Depreciation, Depletion & Amortization - Cash Flow | 38.4 | 39.2 | 37.3 | 8.9 | 9.0 | 8.9 | 8.9 | 9.5 | 9.5 | 9.4 | 9.2 | 9.6 |
| Free Cash Flow to Equity | (243.2) | 172.2 | 23.9 | (36.9) | (48.1) | 73.8 | (174.8) | 229.4 | (23.5) | 27.4 | 86.9 | 99.9 |
| Free Cash Flow Net of Dividends | 900.7 | (3,927.0) | (1,421.9) | 962.4 | 1,393.2 | (1,969.6) | (445.7) | 804.2 | 884.0 | (2,747.0) | (827.5) | 704.0 |
| Free Cash Flow | 900.7 | (3,913.2) | (1,421.9) | 962.4 | 1,393.2 | (1,969.6) | (445.7) | 804.2 | 884.0 | (2,597.3) | (827.5) | 704.0 |
Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 12 periods; the table above goes back further.