Sindh Abadgar’s Sugar Mills Limited (SASML)
The company was incorporated in Karachi, Pakistan on January 28, 1984 as a Public Limited Company and its shares are quoted on all the Stock Exchanges in Pakistan. With effect from 18-11-1998, the Central Depository Company (CDC) also declared SASML’s shares as eligible securities. The mill is located at Deh. Deenpur, Taluka. Bulri Shah Karim, District. Tando Mohammed Khan in the province of Sindh and registered office is situated at 209, Progressive Plaza, Beaumont Road, Karachi in the province of Sindh. The Company is principally engaged in the manufacture and sale of sugar.
SASML is a sugar manufacturing unit of the country. The company was set up with an Authorized and Paid up Capital of Rs.125.000 million and Rs.104.250 million respectively. Its manufacturing facilities are located at Deh. Deenpur, Taluka. Bulri Shah Karim, District Tando Mohammad Khan in the province of Sindh on 205 acres and its present crushing capacity is 6,000 ton of sugarcane per day.
Plant is basically designed by HMC consisting HMCs own supply and certain imported components such as Turbines, Turbo Alternators, Centrifugals, Gears and other essential equipment not made locally.
The project financing was jointly done by NDFC and BEL consortium for Local and Imported Machinery and Bridge financing for Public Issue of Shares, etc.
Sale of sugar is mainly made through brokers locally with exports as and when allowed by the Government against sight LCs. During 1998-1999 10,518.50 tons, during 2007-2008 9,915.50 tons, 2011-2012 9,466 tons, 2012-2013 14,846 tons, 2013-2014 21,848 tons and during 2014-2015 11,767 tons were exported by SASML.
The Molasses is also sold to exporters and local buyers for their Industrial Alcohol Plants (Distilleries) directly or through Agents.
During the year 1997 SASML acquired ISO-9002 Certification, being the first company in the sugar industry to receive this distinction.
The SASML is also the pioneer of introducing and implementation of IT based systems i.e. computerization of entire activities of A/s, Finance, Cane, Chemical departments etc. since its inception.