Shree Renuka Sugars announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Total Income: Rs 30,621 million, a 19% increase from Q3FY23 which was Rs 25,632 million. EBITDA: Rs 2,412 million, showing a 6% increase from Q3FY23's Rs 2,266 million. Consolidated 9MFY24: Total Income: Rs 79,814 million, an 18% rise compared to 9MFY23's Rs 67,365 million. EBITDA: Rs 4,743 million, a 13% increase from 9MFY23's figure of Rs 4,213 million. Standalone 9MFY24: Total income for 9MFY24 increased by 16% over the previous year, from Rs 65,993 million to Rs 76,763 million. The EBITDA for 9MFY24 stood at Rs 4,785 million, marking a 10% increase over last year's Rs 4,368 million. Domestic sugar sales volume increased by 3% to 247K MT. Refinery exported 1,026K MT compared to 1,062 MT in the previous year. Sales realization rose to Rs 56K/MT from 43K/MT last year due to firm international values. Distillery produced 11.73 crore litres during 9MFY24, compared to 12.16 crore litres in the previous year, attributed to regulatory ban on ethanol production from cane juice and limiting production from BH molasses. Operational Highlights Domestic Sugar Sales Volume: Saw an increase of 3% reaching 247K metric tons. Refinery Exports: Reported at 1,026K metric tons for 9MFY24, down from 1,062K metric tons in the last year. However, sales realization rose from Rs 43K/MT to Rs 56K/MT due to firm international values. Distillery Production: Production in 9MFY24 stood at 11.73 crore liters versus 12.16 crore liters the previous year, influenced by a regulatory ban on ethanol production from cane juice and constraints on production from B Heavy molasses. Atul Chaturvedi, Executive Chairman, said: "The third quarter's results reflect our steadfast growth in our operations despite the regulatory headwinds of restricted production of Cane Juice & 'B' Heavy Ethanol. The global economy continues to face multiple macroeconomic and geopolitical shocks. Inspite of all these challenges, Renuka is successfully progressing ahead. Our total income for 9MFY24 has increased by 18% over the previous year. The company posted a strong 9MFY24 performance driven by improved realizations across all segments." Sunil Ranka, Chief Financial Officer, said: "Renuka Consol has delivered a stable financial performance in the third quarter with a 9MFY24 EBITDA growth of 13%. Refinery revenues and margins were better as compared to the previous year, which has enabled the EBITDA levels to move upwards to Rs 4,743 million from Rs 4,213 million in the previous year. Cane production is likely to be lower in Karnataka and Maharashtra States. Our Anamika acquisition in U.P. (North India) has vindicated the strategy of de-risking geographically and the said unit has performed well as compared to last year which is included in the above results." Result PDF