Business

Quarterly Earnings : ASEL & MSEL

The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on May 13, 2024 took on record the audited Financial Results for the Quarter & Full Year Ended 31st March 2024.

Financial Highlights:

Q4FY24

§  Total Income in Q4FY24 at Rs. 621 Cr as against Rs. 848 Cr in Q4FY23.

§  EBITDA in Q4FY24 at Rs 122 Cr as against Rs 142 Cr in Q4FY23.

§  PAT in Q4FY24 at Rs 55 Cr as against Rs 79 Cr in Q4FY23.

FY24

§  Total Income in FY24 at Rs. 2,697 Cr as against Rs. 2,807 Cr in FY23.

§  EBITDA in FY24 at Rs 334 Cr as against Rs 264 Cr in FY23.

§  PAT in FY24 at Rs 128 Cr as against Rs 100 Cr in FY23.

§  The Board of Directors has recommended a Dividend of Rs 10 per share on Face Value of Rs 10 each.

 

Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:

 Despite challenges like lower production due to the impact of El Nino and Red Rot disease early in the year, alongside higher costs due to Uttar Pradesh’s SAP hike and unforeseen regulatory constraints on sugar exports and ethanol diversion, we have remained resilient. The apprehensions of possible sugar shortage proved to be unfounded with an upward trend in sugar production for SS 2023-24 due to higher sugarcane yield in Maharashtra and Karnataka compared to previous estimates leading to a sense of optimism for industry as a whole in the near future.

At Avadh, our strategic vision is centered on seeking growth opportunities and harnessing them carefully to create enduring and sustainable value for our stakeholders. To achieve the growth, the company has now embarked on enhancing its sugarcane crushing capacity and improving energy efficiencies at its various units.  Avadh is poised to confidently embrace the future and embark on the next exciting phase of growth”

 

The Board of Directors of Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on May 14, 2024, took on record the unaudited Financial Results for the Quarter and Year ended March 31, 2024.

Financial & Operational Highlights:

Q4FY24

§  Total Income in Q4FY24 at Rs 288 Cr as against Rs 299 Cr in Q4FY23.

§  EBITDA in Q4FY24 at Rs 81 Cr as against Rs 69 Cr in Q4FY23.

§  PAT in Q4FY24 at Rs 47 Cr as against Rs 35 Cr in Q4FY23.

FY24

§  Total Income in FY24 at Rs 1098 Cr as against Rs 955 Cr in FY23.

§  EBITDA in FY24 at Rs 214 Cr as against Rs 133 Cr in FY23.

§  PAT in FY24 at Rs 117 Cr as against Rs 50 Cr in FY23.

§  The Board of Directors has recommended a Dividend of Rs 15 per share on Face Value of Rs 10 each which includes a special one time dividend of Rs 5/- per share

Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:

“The resilience of the Indian Sugar Industry shines through, steadfast in the face of challenges like rising sugarcane prices in Bihar and evolving ethanol procurement directives. Our unwavering dedication to sustainable development and a comprehensive approach remains unwavering. As we look ahead, the industry is primed for growth in the forthcoming year, with forecasts pointing towards an upsurge in production. This upswing is set to bolster closing stocks, opening doors to broader avenues for export.

At Magadh Sugar & Energy Ltd, we are pleased to report that our expansion plans remain on track. We have increased the capital outlay for capacity enhancements and other improvements at our facilities, underscoring our strong commitment to growth. We remain dedicated to creating value for all our stakeholders. Our team continues to work tirelessly to deliver excellence, drive innovation, and ensure the long-term success of our company.

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