The Board of Directors ofMagadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on 07thNovember, 2019 took on record the audited Financial Results for the Half year &Quarter ended 30thSeptember, 2019.
|Particulars (Rs crore)||Q2
|EPS (Rs.) NOT ANNUALISED||1.26||(9.86)||5.60||(8.87)|
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“After a few years of strong headwinds, due to over-production in India, we are now expecting a dip in sugar production in 2019-20 by almost 20% due to crop destruction on account of heavy rainfall in various States. The new export policy mandating 50 lakh tons of sugar to be exported along with a renewed thrust on the Ethanol programme will have a buoyant impact on the sugar industry.
We at Magadh Sugar and Energy Limited have always achieved our best efficiencies and with the positive market dynamics we expect to perform better this year.”