External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Food products / Thematic (Sector/Industry)

<ul><li>Pakistan listed sugar sector’s earnings were up 78% YoY to record high of Rs22bn in FY23 (Oct-2022 to Sep-2023). This increase is attributed to rise in sugar prices that led to higher gross margins.</li><li>Ethanol, which is a by-product of sugar, also experienced improved performance in FY23 due to favorable Ethanol selling prices in the international market along with devaluation of the Rupee against the US dollar.</li><li>Net sales of the sector jumped 29% YoY to Rs304bn in FY23 due to the export of 249k tons and 28% increase in average domestic prices in FY23.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan listed sugar sector’s earnings were up 78% YoY to record high of Rs22bn in FY23 (Oct-2022 to Sep-2023). This increase is attributed to rise in sugar prices that led to higher gross margins.Ethanol, which is a by-product of sugar, also experienced improved performance in FY23 due to favorable Ethanol selling prices in the international market along with devaluation of the Rupee against the US dollar.Net sales of the sector jumped 29% YoY to Rs304bn in FY23 due to the export of 249k tons and 28% increase in average domestic prices in FY23.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Listed Sugar Sector record profitability - Sales grew 29%; Net Profit up 78% in FY23