Last close · 16 Oct 2026
Rs 456.29 +0.00%
Annual · FY2006 – FY2025
Tandlianwala Sugar Mills Limited (TSML) income statement
Tandlianwala Sugar Mills Limited reported revenue of Rs 40.5 bn for FY2025 (Oct 2024 – Sep 2025), up 5.7% on FY2024. Gross profit came to Rs 6.0 bn, a gross margin of 14.9%. Operating profit was Rs 4.7 bn (an operating margin of 11.6%). Finance cost was Rs 3.6 bn, up 0.4% on FY2024. Tax of Rs 88.7 mn took 11.1% of pre-tax profit. Profit attributable to shareholders was Rs 709.7 mn, down 34.4% on FY2024, or Rs 6.03 per share.
| Rs bn | 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 | 40.5 | 38.3 | 42.3 | 32.3 | 27.1 | |||||||||||||||
| Cost of revenue | (34.5) | (32.2) | (36.6) | (28.5) | (24.0) | |||||||||||||||
| Gross profit | 6.0 | 6.1 | 5.7 | 3.8 | 3.1 | |||||||||||||||
| Selling, general & administrative expenses | (1.4) | (1.4) | (1.3) | (1.2) | (0.9) | |||||||||||||||
| Operating profit | 4.7 | 5.4 | 4.3 | 2.6 | 2.3 | |||||||||||||||
| Finance cost | (3.6) | (3.6) | (2.4) | (1.6) | (1.2) | |||||||||||||||
| Profit before tax | 0.8 | 1.8 | 2.1 | 1.0 | 1.0 | |||||||||||||||
| Taxation | (0.1) | (0.7) | (0.6) | (0.5) | (0.3) | |||||||||||||||
| Profit after tax | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 | |||||||||||||||
| Profit attributable to shareholders | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 | |||||||||||||||
| Per share & other | ||||||||||||||||||||
| EPS – basic (Rs) Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 | |||||||||||||||
| EPS – diluted (Rs) Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 | |||||||||||||||
| Dividend per share (Rs) Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| EBITDA | 6.1 | 6.2 | 5.1 | 3.4 | 3.1 | |||||||||||||||
| Depreciation & amortisation | 1.4 | 0.8 | 0.8 | 0.8 | 0.8 | |||||||||||||||
| Weighted average shares mn | 117.7 | 117.7 | 117.7 | 117.7 | 117.7 | |||||||||||||||
| 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 | +5.7% | -9.4% | +30.9% | +19.1% | +27.5% | |||||||||||||||
| Cost of revenue | +7.1% | -12.1% | +28.3% | +18.9% | +23.5% | |||||||||||||||
| Gross profit | -1.6% | +8.0% | +50.8% | +20.6% | +69.4% | |||||||||||||||
| Selling, general & administrative expenses | +3.8% | +1.5% | +15.8% | +25.7% | +8.4% | |||||||||||||||
| Operating profit | -13.5% | +25.4% | +65.1% | +14.8% | +130.1% | |||||||||||||||
| Finance cost | +0.4% | +47.2% | +52.7% | +35.1% | +14.3% | |||||||||||||||
| Profit before tax | -56.4% | -14.8% | +117.4% | -4.3% | +9,343.5% | |||||||||||||||
| Taxation | -88.1% | +17.0% | +35.9% | +46.7% | +9.7% | |||||||||||||||
| Profit after tax | -34.4% | -28.3% | +191.5% | -27.3% | — | |||||||||||||||
| Profit attributable to shareholders | -34.4% | -28.3% | +191.5% | -27.3% | — | |||||||||||||||
| Per share & other | ||||||||||||||||||||
| EPS – basic (Rs) | -34.5% | -28.2% | +191.5% | -27.3% | — | |||||||||||||||
| EPS – diluted (Rs) | -34.5% | -28.2% | +191.5% | -27.3% | — | |||||||||||||||
| Dividend per share (Rs) | — | — | — | — | — | |||||||||||||||
| EBITDA | -1.8% | +21.4% | +49.1% | +10.3% | +71.5% | |||||||||||||||
| Depreciation & amortisation | +79.5% | -0.2% | -2.6% | -2.2% | +0.8% | |||||||||||||||
| 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 | (85.1%) | (84.0%) | (86.6%) | (88.3%) | (88.5%) | |||||||||||||||
| Gross profit | 14.9% | 16.0% | 13.4% | 11.7% | 11.5% | |||||||||||||||
| Selling, general & administrative expenses | (3.5%) | (3.5%) | (3.2%) | (3.6%) | (3.4%) | |||||||||||||||
| Operating profit | 11.6% | 14.2% | 10.3% | 8.1% | 8.4% | |||||||||||||||
| Finance cost | (8.9%) | (9.4%) | (5.8%) | (5.0%) | (4.4%) | |||||||||||||||
| Profit before tax | 2.0% | 4.8% | 5.1% | 3.1% | 3.8% | |||||||||||||||
| Taxation | (0.2%) | (2.0%) | (1.5%) | (1.5%) | (1.2%) | |||||||||||||||
| Profit after tax | 1.8% | 2.8% | 3.6% | 1.6% | 2.6% | |||||||||||||||
| Profit attributable to shareholders | 1.8% | 2.8% | 3.6% | 1.6% | 2.6% | |||||||||||||||
| Per share & other | ||||||||||||||||||||
| EBITDA | 15.1% | 16.3% | 12.1% | 10.6% | 11.5% | |||||||||||||||
| Depreciation & amortisation | 3.5% | 2.1% | 1.9% | 2.5% | 3.1% | |||||||||||||||
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 15 Oct 2026.
All reported line items 123
| Rs bn | 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 | 40.5 | 38.3 | 42.3 | 32.3 | 27.1 |
| Sales of Goods & Services - Net - Unclassified | 40.5 | 38.3 | 42.3 | 32.3 | 27.1 |
| Revenue Taxes | — | — | — | — | — |
| Gross Revenue from Business Activities - Total | — | — | — | — | — |
| Revenue from Business-Related Activities - Other - Total | — | — | — | — | — |
| Revenue from Business Activities - Total | 40.5 | 38.3 | 42.3 | 32.3 | 27.1 |
| Cost of Operating Revenue | 34.5 | 32.2 | 36.6 | 28.5 | 24.0 |
| Cost of Revenues - Total | 34.5 | 32.2 | 36.6 | 28.5 | 24.0 |
| Cost of Revenues - Unclassified | — | 31.4 | 35.8 | — | — |
| Selling, General & Administrative Expenses - Total | 1.4 | 1.4 | 1.3 | 1.2 | 0.9 |
| Selling, General & Administrative Expenses - Unclassified | 1.4 | 1.1 | 1.2 | 0.7 | 0.5 |
| Depreciation in Cost of Revenues | — | 0.8 | 0.8 | 0.8 | 0.8 |
| Depreciation in Selling, General & Administrative Expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Labor & Related Expenses including Stock-Based Compensation in Cost of Revenues | — | — | — | 0.7 | 0.6 |
| Material Expenses | — | — | — | 28.0 | 25.6 |
| Other Operating Expense/(Income) - Net | (0.1) | (0.7) | (0.0) | (0.0) | (0.1) |
| Changes in Inventory | — | — | — | (0.5) | (0.6) |
| Other Operating Income - Total | 0.1 | 0.7 | 0.0 | 0.0 | — |
| Materials Purchased | — | — | — | 28.4 | 26.2 |
| Ground leases/Rental Expenses in Cost of Revenues | — | — | — | 0.0 | 0.0 |
| Cost of Revenues - Other - Total | — | — | — | (0.9) | (3.1) |
| Gross Profit - Industrials/Property - Total | 6.0 | 6.1 | 5.7 | 3.8 | 3.1 |
| Operating Expenses - Total | 35.8 | 32.9 | 38.0 | 29.7 | 24.8 |
| Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses | — | 0.2 | 0.1 | 0.4 | 0.4 |
| Selling, General & Administrative Expenses - Other - Total | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Rental Expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Operating Profit before Non-Recurring Income/(Expense) | 4.7 | 5.4 | 4.3 | 2.6 | 2.3 |
| Financing Income/(Expense) - Net - Total | (3.6) | (3.6) | (2.2) | (1.6) | (1.2) |
| Interest Expense - Net of (Interest Income) | 3.6 | 3.6 | 2.4 | 1.6 | 1.2 |
| Other Operating Expense | — | — | — | — | — |
| Interest Expense - Net of Capitalized Interest | 3.6 | 3.6 | 2.4 | 1.6 | 1.2 |
| Non-Interest Financial Income/(Expense) - Total | (0.0) | (0.0) | 0.3 | (0.0) | (0.1) |
| Non-Interest Financial Income/(Expense) - Other - Net | (0.0) | (0.0) | (0.0) | (0.1) | (0.1) |
| Sale of Tangible & Intangible Fixed Assets - Gain/Loss | — | — | 0.0 | 0.0 | — |
| Other Non-Operating Income/(Expense) - Total | (0.3) | — | (0.0) | (0.0) | (0.0) |
| Foreign Exchange Gain/(Loss) - Non-Business | 0.0 | — | 0.2 | 0.0 | — |
| Normalized Pre-tax Profit | 0.8 | 1.8 | 2.1 | 1.0 | 1.0 |
| Interest Expense on Capital Financing - Gross | — | — | — | — | — |
| Interest Capitalized | — | — | — | — | — |
| Sale of Investments Held for Sale, Maturity & Trading - Gain/(Loss) | — | — | 0.0 | 0.0 | — |
| Provision for Income Tax Expense- Unclassified | 0.1 | 0.7 | — | — | — |
| Income before Taxes | 0.8 | 1.8 | 2.1 | 1.0 | 1.0 |
| Income Taxes | 0.1 | 0.7 | 0.6 | 0.5 | 0.3 |
| Income Taxes for the Year - Current | — | — | 0.6 | 0.5 | 0.3 |
| Income Taxes - Deferred | — | — | (0.0) | 0.0 | (0.0) |
| Net Income after Tax | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Income before Discontinued Operations & Extraordinary Items | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Net Income before Minority Interest | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Net Income after Minority Interest | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Income Available to Common Shares | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Other Comprehensive Income - Starting Line | — | — | 1.5 | 0.5 | 0.7 |
| Other Comprehensive Income - Pension Related | — | — | 0.0 | (0.0) | 0.0 |
| Other Comprehensive Income - Income Tax | — | — | (0.0) | 0.0 | (0.0) |
| Other Comprehensive Income - Net of Tax - Total | — | — | 0.0 | (0.0) | 0.0 |
| Comprehensive Income before Minority Interest - Total | — | — | 1.5 | 0.5 | 0.7 |
| Comprehensive Income - Attributable to Parent Company Equity Holders - Total | — | — | 1.5 | 0.5 | 0.7 |
| 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 | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Income available to Common excluding Extraordinary Items | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Shares used to calculate Basic EPS - Total mn | 117.7 | 117.7 | 117.7 | 117.7 | 117.7 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| 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 | 117.7 | 117.7 | 117.7 | 117.7 | 117.7 |
| EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Basic from Discontinued Operations & Extraordinary Items Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Comprehensive Earnings Per Share - Basic - Issue Specific Rs | — | — | 13.02 | 4.29 | 6.08 |
| Dilution Adjustment | — | — | — | — | — |
| Net Income - Diluted - including Extraordinary Items Applicable to Common - Total | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Diluted Income available to Common excluding Extraordinary Items | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Shares used to calculate Diluted EPS - Total mn | 117.7 | 117.7 | 117.7 | 117.7 | 117.7 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| 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 | 117.7 | 117.7 | 117.7 | 117.7 | 117.7 |
| EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs | 6.03 | 9.20 | 12.82 | 4.40 | 6.05 |
| EPS - Diluted from Discontinued Operations & Extraordinary Items Rs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Comprehensive Earnings Per Share - Diluted - Issue Specific Rs | — | — | 13.02 | 4.29 | 6.08 |
| 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) | 4.7 | 5.4 | 4.3 | 2.6 | 2.3 |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) | 6.1 | 6.2 | 5.1 | 3.4 | 3.1 |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) and Operating Lease Payments | 6.1 | 6.2 | 5.1 | 3.5 | 3.2 |
| Depreciation & Amortization - Supplemental | 1.4 | 0.8 | 0.8 | 0.8 | 0.8 |
| Depreciation Expense - Total - Supplemental | 1.4 | 0.8 | 0.8 | 0.8 | 0.8 |
| Depreciation - Financial Lease Right-of-Use Assets - Supplemental | 0.7 | 0.1 | 0.1 | 0.1 | — |
| Depreciation, Depletion & Amortization - Total | 1.4 | 0.8 | 0.8 | 0.8 | 0.8 |
| Depreciation - Total | 1.4 | 0.8 | 0.8 | 0.8 | 0.8 |
| Labor & Related Expenses - Total | — | — | — | 1.2 | 1.0 |
| Labor & Related Expenses - Supplemental | — | — | — | 1.2 | 1.0 |
| Auditor Fees | — | 0.0 | 0.0 | 0.0 | 0.0 |
| Audit-Related Fees | — | 0.0 | 0.0 | 0.0 | 0.0 |
| Normalized after Tax Profit | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Normalized Net Income from Continuing Operations | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Normalized Net Income - Bottom Line | 0.7 | 1.1 | 1.5 | 0.5 | 0.7 |
| Earnings before Interest & Taxes (EBIT) - Normalized | 4.4 | 5.4 | 4.6 | 2.6 | 2.2 |
| Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized | 5.8 | 6.2 | 5.4 | 3.4 | 3.0 |
| Operating/Rental Expense – Supplemental | — | — | — | — | — |
| Depreciation of Financial Lease Right-of-Use Assets | 0.7 | 0.1 | 0.1 | 0.1 | — |
| Interest Expense on Financial Lease Liabilities - Supplemental | 3.6 | 3.6 | 2.4 | 1.6 | 1.2 |
| Rental/Operating Lease Expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Interest Expense | 3.6 | 3.6 | 2.4 | 1.6 | 1.2 |
| Operating Expenses | 35.8 | 32.9 | 38.0 | 29.7 | 24.8 |
| Selling, General & Administrative Expenses excluding Research & Development Expenses | 1.4 | 1.4 | 1.3 | 1.2 | 0.9 |
| Income before Taxes & Provision for Loan Losses | 0.8 | 1.8 | 2.1 | 1.0 | 1.0 |
| Cost of Revenue including Operation & Maintenance (Utility) - Total | 34.5 | 32.2 | 36.6 | 28.5 | 24.0 |
| Cost of Revenues excluding Depreciation | 34.5 | 31.4 | 35.8 | 27.7 | 23.2 |
| 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 | 3.9 | 3.2 | 3.2 | 1.4 | 1.5 |
| Operating Expenses excluding Non-Cash Charges - Total | 34.4 | 32.1 | 37.2 | 28.9 | 24.0 |
| Income Available to Common Shares before Depreciation & Amortization | 2.1 | 1.9 | 2.3 | 1.3 | 1.5 |
| Fixed Charges | 3.6 | 3.6 | 2.4 | 1.6 | 1.2 |
| 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.