Skip to content
Smart Money

Sugar & Allied Industries

BAFS Baba Farid Sugar Mills Limited

Latest results: FY2025 · Sep 2025 Q3 FY2026 · Apr – Jun 2026

Last close · 16 Oct 2026

Rs 430.21 0.00%

Annual · FY2006 – FY2025

Baba Farid Sugar Mills Limited (BAFS) cash flow statement

Operating activities generated Rs 2.7 bn of cash in FY2025 (Oct 2024 – Sep 2025), 277% of the starting profit. Capital expenditure was Rs 62.9 mn, leaving free cash flow of Rs 2.7 bn. Overall, cash increased by Rs 373.5 mn.

BAFS cash flow statement (annual) (Rs mn)
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 FY2020 * Oct 2019 – Sep 2020 FY2019 * Oct 2018 – Sep 2019 FY2018 * Oct 2017 – Sep 2018 FY2017 Oct 2016 – Sep 2017 FY2016 * Oct 2015 – Sep 2016 FY2015 Oct 2014 – Sep 2015 FY2014 Oct 2013 – Sep 2014 FY2013 Oct 2012 – Sep 2013 FY2012 Oct 2011 – Sep 2012 FY2011 Oct 2010 – Sep 2011 FY2010 * Oct 2009 – Sep 2010 FY2009 Oct 2008 – Sep 2009 FY2008 * Oct 2007 – Sep 2008 FY2007 Oct 2006 – Sep 2007 FY2006 Oct 2005 – Sep 2006
Operating activities
Profit (cash-flow starting line, as reported) 982.7 (550.3) 92.6 (167.7) 166.4 (276.9) (627.6) (378.3) 24.0 3.2 (204.9) 2.8 (135.5) (222.9) (191.8) (305.6) (129.5) (26.2) (139.1) (20.7)
Depreciation & amortisation 109.1 112.2 114.1 104.7 93.3 93.8 75.7 75.4 79.6 70.4 70.6 68.0 62.7 64.0 49.7 52.9 53.0 13.1 12.2 11.4
Net cash from operating activities 2,720.0 (1,977.1) 155.9 (727.7) 59.6 (219.8) (398.2) 193.5 (155.4) (183.3) 299.1 (627.3) 413.8 (219.6) (109.5) (444.1) 44.9 431.2 (256.3) 207.5
Investing activities
Capital expenditure (62.9) (48.7) (58.1) (293.6) (195.7) (99.8) (53.8) (53.1) (122.0) (28.8) (25.8) (15.8) (116.1) (45.1) (21.7) (0.6) (20.4) (13.6) (31.7) (17.0)
Net cash from investing activities (62.4) (48.4) (39.0) (91.3) (292.5) (99.9) (53.8) (53.1) (122.0) (28.8) (25.8) (15.8) (116.1) (45.1) (21.7) 12.5 (13.4) 35.8 (30.3) (12.6)
Financing activities
Borrowings raised / (repaid) (2,224.2) 2,022.4 (525.6) 1,017.6 (96.5) 649.8 502.1 (75.8) 289.2 357.2 5.0 329.2 (33.8) (210.0) 130.2 425.8 (53.0) (508.9) 279.1 (166.5)
Net cash from financing activities (2,284.2) 1,992.4 (225.6) 1,017.6 (96.5) 649.8 502.1 (75.8) 289.2 357.2 5.0 329.2 (33.8) (210.0) 130.2 425.8 (53.0) (508.9) 279.1 (166.5)
Net change in cash 373.5 (33.0) (108.7) 198.6 (329.5) 330.1 50.1 64.6 11.7 145.1 278.3 (313.8) 264.0 (474.7) (1.1) (5.8) (21.5) (42.0) (7.6) 28.4
Key figures
Free cash flow (operating cash flow − capex) 2,657.1 (2,025.8) 97.8 (1,021.3) (136.1) (319.5) (451.9) 140.4 (277.5) (212.1) 273.3 (643.1) 297.8 (264.7) (131.2) (444.6) 24.6 417.5 (288.0) 190.5
BAFS cash flow statement — year-on-year change (Rs mn)
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 FY2020 * Oct 2019 – Sep 2020 FY2019 * Oct 2018 – Sep 2019 FY2018 * Oct 2017 – Sep 2018 FY2017 Oct 2016 – Sep 2017 FY2016 * Oct 2015 – Sep 2016 FY2015 Oct 2014 – Sep 2015 FY2014 Oct 2013 – Sep 2014 FY2013 Oct 2012 – Sep 2013 FY2012 Oct 2011 – Sep 2012 FY2011 Oct 2010 – Sep 2011 FY2010 * Oct 2009 – Sep 2010 FY2009 Oct 2008 – Sep 2009 FY2008 * Oct 2007 – Sep 2008 FY2007 Oct 2006 – Sep 2007 FY2006 Oct 2005 – Sep 2006
Operating activities
Profit (cash-flow starting line, as reported) — -694.3% — -200.7% — — — -1,679.0% +640.0% — -7,301.9% — — — — — — — — —
Depreciation & amortisation -2.8% -1.6% +8.9% +12.2% -0.5% +23.8% +0.4% -5.3% +13.1% -0.3% +3.8% +8.6% -2.0% +28.7% -6.0% -0.3% +304.2% +7.4% +6.7% —
Net cash from operating activities — -1,368.2% — -1,321.2% — — -305.8% — — -161.3% — -251.6% — — — -1,088.2% -89.6% — -223.5% —
Investing activities
Capital expenditure +29.1% -16.1% -80.2% +50.0% +96.1% +85.5% +1.4% -56.5% +323.1% +11.9% +63.6% -86.4% +157.3% +107.6% +3,608.8% -97.1% +49.5% -57.0% +85.9% —
Net cash from investing activities — — — — — — — — — — — — — — -274.2% — -137.4% — — —
Financing activities
Borrowings raised / (repaid) -210.0% — -151.6% — -114.9% +29.4% — -126.2% -19.0% +7,040.1% -98.5% — — -261.3% -69.4% — — -282.4% — —
Net cash from financing activities -214.6% — -122.2% — -114.9% +29.4% — -126.2% -19.0% +7,040.1% -98.5% — — -261.3% -69.4% — — -282.4% — —
Net change in cash — — -154.7% — -199.8% +558.3% -22.4% +451.6% -91.9% -47.9% — -218.9% — — — — — — -126.7% —
Key figures
Free cash flow (operating cash flow − capex) — -2,170.9% — — — — -421.8% — — -177.6% — -316.0% — — — -1,909.0% -94.1% — -251.2% —

Change against the previous fiscal year; shown when the earlier figure is positive.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 49
BAFS cash flow statement — all reported line items (Rs mn)
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 FY2020 Oct 2019 – Sep 2020 FY2019 Oct 2018 – Sep 2019 FY2018 Oct 2017 – Sep 2018 FY2017 Oct 2016 – Sep 2017 FY2016 Oct 2015 – Sep 2016
Profit/(Loss) - Starting Line - Cash Flow 982.7 (550.3) 92.6 (167.7) 166.4 (276.9) (627.6) (378.3) 24.0 3.2
Non-cash Items & Reconciliation Adjustments - Cash Flow 571.9 874.1 443.5 184.6 106.6 343.3 331.2 246.4 209.1 197.0
Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile 32.4 4.4 (12.6) (125.2) (98.8) 56.3 82.9 1.2 1.9 0.6
Financial Income/(Expense) - Cash Flow - to Reconcile 430.4 757.5 350.4 204.8 115.3 193.2 176.2 169.8 127.6 126.0
Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile 109.1 112.2 114.1 104.7 93.3 93.8 75.7 75.4 79.6 70.4
Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile 109.1 112.2 114.1 104.7 93.3 93.8 75.7 75.4 79.6 70.4
Assets Sale - Gain/(Loss) - Cash Flow - to Reconcile 0.0 (0.1) (8.4) 0.3 (3.2) 0.0 (3.6) — — —
Income Taxes - Paid/(Reimbursed) - Cash Flow 159.7 109.4 51.7 82.4 55.1 24.2 1.8 1.4 10.0 10.7
Interest Paid - Cash 567.3 646.6 343.5 155.1 53.4 94.0 243.7 66.2 97.6 168.3
Cash Flow from Operating Activities before Changes in Working Capital 827.7 (432.3) 140.8 (220.5) 164.5 (51.9) (541.9) (199.5) 125.4 21.3
Working Capital - Increase/(Decrease) - Cash Flow 1,892.4 (1,544.8) 15.1 (507.2) (104.9) (167.9) 143.8 393.0 (280.8) (204.5)
Accounts Receivables - Decrease/(Increase) - Cash Flow 27.6 (130.4) (121.3) (44.8) (64.7) (58.2) 110.6 (0.0) (36.6) (80.9)
Inventories - Decrease/(Increase) - Cash Flow 1,820.2 (1,233.8) (238.9) (545.8) 202.8 (286.1) 30.7 475.0 (143.6) (136.2)
Other Assets - Decrease/(Increase) - Cash Flow (0.4) 1.8 (0.9) 0.0 1.4 (2.5) (0.6) 0.0 20.6 0.0
Accounts Payable and Accrued Expenses - Increase/(Decrease) - Cash Flow 151.0 (182.5) 376.2 83.4 (244.4) 178.9 3.0 (82.0) (121.3) 12.6
Operating Lease Liabilities - Increase/(Decrease) - Cash Flow (0.2) — — — — — — — — —
Other Liabilities - Increase/(Decrease) -Total - Cash Flow (105.9) — — — — — — — — —
Net Cash Flow from Operating Activities 2,720.0 (1,977.1) 155.9 (727.7) 59.6 (219.8) (398.2) 193.5 (155.4) (183.3)
Capital Expenditures - Net - Cash Flow 62.9 48.0 40.4 190.8 191.4 99.8 53.8 53.1 122.0 28.8
Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow 62.9 48.0 40.4 190.8 191.4 99.8 53.8 53.1 122.0 28.8
Property, Plant & Equipment - Purchased - Cash Flow 62.9 48.7 58.1 293.6 195.7 99.8 53.8 53.1 122.0 28.8
Property, Plant & Equipment Sold - Cash Flow 0.0 0.7 17.7 102.8 4.3 — — — — —
Capital Expenditures - Total 62.9 48.7 58.1 293.6 195.7 99.8 53.8 53.1 122.0 28.8
Investments excluding Loans - Decrease/(Increase) - Cash Flow 0.3 (0.3) 0.0 100.0 (100.0) — — — — —
Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow 0.3 (0.3) 0.0 100.0 (100.0) — — — — —
Investment Securities - Purchased - Unclassified - Cash Flow — — — — 100.0 — — — — —
Other Investing Cash Flow - Decrease/(Increase) 0.2 (0.1) 1.3 (0.5) (1.2) (0.2) — — — —
Net Cash Flow from Investing Activities (62.4) (48.4) (39.0) (91.3) (292.5) (99.9) (53.8) (53.1) (122.0) (28.8)
Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow (2,224.2) 2,022.4 (525.6) 1,017.6 (96.5) 649.8 502.1 (75.8) 289.2 357.2
Debt - Issued/(Reduced) - Short-Term - Total - Cash Flow (1,954.3) 1,959.1 (340.0) 419.7 (84.7) 105.0 — — — —
Debt - Issued/Reduced - Long-Term - Cash Flow (269.9) 63.4 (185.6) 597.9 (11.8) 544.8 502.1 (75.8) 289.2 357.2
Lease liabilities - Issued/(Reduced) - Cash Flow (5.4) (3.4) (10.7) (4.3) (2.4) (0.2) — — — —
Debt - Issued - Long-Term - Cash Flow — 73.3 0.0 1,202.2 320.0 771.2 2,177.5 — — —
Debt - Reduced - Long-Term - Cash Flow 269.9 10.0 185.6 604.3 331.8 226.4 1,675.4 — — —
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 5.4 3.4 10.7 4.3 2.4 0.2 — — — —
Other Financing Cash Flow - Increase/(Decrease) (60.0) (30.0) 300.0 — — — — — — —
Net Cash Flow from Financing Activities (2,284.2) 1,992.4 (225.6) 1,017.6 (96.5) 649.8 502.1 (75.8) 289.2 357.2
Net Change in Cash - Total 373.5 (33.0) (108.7) 198.6 (329.5) 330.1 50.1 64.6 11.7 145.1
Net Cash from Continuing Operations 373.5 (33.0) (108.7) 198.6 (329.5) 330.1 50.1 64.6 11.7 145.1
Net Cash - Beginning Balance 83.8 116.8 225.5 26.9 356.4 26.4 (23.8) (88.4) (100.1) (245.2)
Net Cash - Ending Balance 457.3 83.8 116.8 225.5 26.9 356.4 26.4 (23.8) (88.4) (100.1)
Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental 159.7 109.4 51.7 82.4 55.1 24.2 1.8 1.4 10.0 10.7
Interest Paid - Cash Flow - Supplemental 567.3 646.6 343.5 155.1 53.4 94.0 243.7 66.2 97.6 168.3
CF from Optg Activities before Change in WC & Int Payments 1,395.0 214.4 484.3 (65.4) 217.9 42.1 (298.3) (133.3) 223.0 189.6
Contract Liabilities - Increase/(Decrease) - Cash Flow (105.9) — — — — — — — — —
Depreciation, Depletion & Amortization - Cash Flow 109.1 112.2 114.1 104.7 93.3 93.8 75.7 75.4 79.6 70.4
Free Cash Flow to Equity 432.9 (2.6) (410.1) 99.1 (228.3) 330.2 50.1 64.6 11.7 145.1
Free Cash Flow Net of Dividends 2,657.1 (2,025.8) 97.8 (1,021.3) (136.1) (319.5) (451.9) 140.4 (277.5) (212.1)
Free Cash Flow 2,657.1 (2,025.8) 97.8 (1,021.3) (136.1) (319.5) (451.9) 140.4 (277.5) (212.1)

Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 10 periods; the table above goes back further.