ASEL and MSEL – Quarterly Earnings for Q4 & FY22

The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 10th May, 2022 took on record the audited Financial Results for the Quarter and Year ended 31st March 2022.

Key Highlights:

▪     Total Ethanol capacity reached 325 KLPD in 2022

▪     The Board has recommended a dividend of Rs 10 per equity share (100% of FV of Rs 10 per equity share)

Financial Performance Highlights:


Q4 FY22

▪    Total Income at Rs. 760 crores

▪    PAT at Rs. 51 crores



▪     Total Income at Rs. 2,748 crores

▪     PAT at Rs. 124 crores, growth of 59% YoY


Operational Performance Highlights:

▪    Sugar production at 52.64 lakh qtls, sales at 62.09 lakh qtls and closing inventory at 29.07 lakh qtls (as on 31-Mar-22)

▪    Sugar Realization for FY22 at Rs. 3,390/- per quintal as against Rs. 3,185/- per quintal in FY21

▪    Ethanol dispatched at 824 lakh litres, grew by 24YoY

Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: “Indian sugar industry  witnessed various tailwinds, elevating Indian sugar millers to a strong position globally. The change in global and domestic market dynamics enabled domestic sugar millers to achieve healthy growth. Indian sugar exports played a pivotal role to strengthen sugar realizations in domestic market. Thrust towards ethanol continues to reduce cyclicality in sugar sector. Indian ethanol demand has a huge gap to fill which will continue capex cycle in sugar industry, and with introduction of flexi fuel vehicles, the ethanol demand can reach upto 4,000 crore litres in the next 5 years. At Avadh Sugar & Energy Limited, the recently enhanced Ethanol capacity will improve profitability. The generated free cashflow was utilized towards strengthening balance sheet and repaying outside liabilities.The persistence towards sustainable growth will enable your company to create value for all stakeholders.”


The Board of Directors of Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on May 11, 2022, took on record the audited Financial Results for the Quarter and Year ended March 31, 2022.

Key Highlights:

•     Total Ethanol capacity increased from 80 KLPD to 150 KLPD in FY22

•    Long Term Issuer Rating by India Ratings and Research upgraded to “IND A” with Stable Outlook

•    The Board has recommended a dividend of Rs 6.50 per equity share (65% of FV of Rs 10 per equity share)

Financial Highlights:

Q4 FY22

•     Total Income stood at Rs. 344 crores.

•     EBITDA stood at Rs. 62 crores, grew 17% YoY

•     PAT at Rs. 33 crores, grew 50 % YoY



•     Total Income stood at Rs. 998 crores.

•     EBITDA stood at Rs. 127 crores, grew 9 % YoY

•     PAT at Rs. 46 crores, grew 70 % YoY

Operational Highlights:

•     Sugar production at 15.92 lakh qtls, sales at 23.74 lakh qtls and closing inventory at 11.21 lakh qtls (as on 31-Mar-22)

•     Sugar Realization for FY22 Rs. 3,507/- per quintal as against Rs. 3,281/- per quintal in FY21

•     Ethanol Production at 254 lakh litres, growth of 43 YoY

Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said: “Indian Sugar Industry is at the midst of long term growth trajectory. Strong export demand and thrust towards ethanol is driving the domestic sugar market to deliver healthy growth. The current sugar season is expected to witness a healthy crop, thus enabling India to continue to cater to export demand. However, in the state of Bihar, unseasonal rainfall and high-water logging in the fields resulted in lower yield and dented recovery, during the current sugar season. The Government of India continues its thrust towards ethanol to reduce carbon emissions and move towards green energy. The recent focus on flexi fuel engines is envisaged to further add towards ethanol demand in India. The recently expanded Ethanol capacity will drive the growth for the company going forward. With focus towards strengthening balance sheet. Your company has reduced outside liabilities substantially and liquidated inventories during this fiscal. Current fiscal has given the company to adopt necessary steps and thus enable the future endeavors.”

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