Karachi: JDW Sugar Mills Ltd. (JDWS) hosted an analyst briefing to discuss its financial results for the fiscal year SY25, which revealed a modest 1% decline in revenue compared to the same period last year. Despite challenges such as lower production and weak crop yields, the company’s revenue remained stable, largely due to the sale of carry-over inventory from the previous year.

According to AKD Securities Limited, JDWS reported a revenue of PkR114.7 billion in SY25, down from PkR116.0 billion in the previous year. The revenue composition was primarily driven by sugar sales, which accounted for 92% of the total revenue, followed by co-power generation, corporate farms, and ethanol, contributing 5%, 3%, and 1%, respectively.

The company also reported earnings of PkR6.4 billion (EPS: PkR111.0) in SY25, a significant 51% decline from the PkR13.0 billion (EPS: PkR225.2) recorded in the previous year. This drop was attributed to the absence of last year’s one-off gains, which included approximately PkR9 billion from carry-over sugar inventory and PkR4.3 billion from co-power generation arrears received from the Central Power Purchasing Agency (CPPA) following the resolution of disputed bagasse pricing.

JDWS management emphasized that its 26,000-acre corporate farm fulfills 7-8% of the group’s sugarcane requirements. The company operates two bagasse-based co-power generation plants with a combined capacity of 53.4MW, which maintained near 100% load factor throughout the year, supported by sufficient in-house bagasse supply, except during brief maintenance shutdowns.