Imperial Sugar Limited: An Update no longer a going concern
Tuesday, 21 March 2017
By: Cedar Capital (Private) Limited
Due to the recent surge rally in share price of Imperial Sugar Limited (IMSL) from PKR10 to PKR35 and a downward trajectory move to PKR22, we had gone through the company’s financials and extracted following points for investor’s information.
As per company’s 1Q’17 director report, the operations at both units (Mandi Bahaduddin and Khanewal) were closed owing to shortage of working capital. With no other option, the company plans to invest in the power sector. Based on the shareholder approval, the company is in the process for sale of its assets to deal with the potential buyer. Hence, the company is not considered a going concern.