Sugar company Shree Renuka Sugars announced Q1FY25 results: Consolidated: Revenue went up by 31% from Rs 23,546 million to Rs 30,750 million. PBT Loss for the year widened to negative Rs 1,781 million vs negative Rs 1,369 million over the last year. Standalone: Company continued its revenue growth momentum, grew by 27% vs 18% (LY) Revenue growth was led by Refinery up 39%, Domestic sugar sales up 11% but impacted by ethanol sales (53%). EBITDA was lower at Rs 1,070 million (LY Rs. 1,468 Mn), mainly impacted by ethanol business and lower MTM in commodity hedging. Atul Chaturvedi, Executive Chairman of the company, said: “We have commenced the first quarter on a positive note and achieved healthy growth. This quarter’s results were impacted on account of the temporary change in ethanol production / sales policy of the government. Our Standalone total income for the quarter has increased by 27% over the previous year. Revenues have grown significantly with upside in our refinery and sugar businesses. For the upcoming sugar season, we expect the Government to allow higher sugar diversion for ethanol production, positive policy announcements regarding the minimum selling price (MSP) of sugar and ethanol pricing. These steps would help the sugar and energy sector, ensure liquidity at sugar mills and timely sugarcane payments to farmers. Sunil Ranka, Chief Financial Officer, said: “Shree Renuka Sugars has delivered a stable performance in Q1 with a standalone gross profit of Rs 3,603 million and the EBITDA levels at Rs 1,070 million, navigating the challenge of Government regulations. With the onset of good monsoon across the country and specially in the sugarcane belts of Maharashtra, Karnataka and U.P., we anticipate adequate sugarcane availability in the upcoming season. Even after an increase in the FRP (fair and remunerative price) which is likely to lead to some cost escalation, the industry expects further upward improvement in the sugar and ethanol pricing. Good monsoon, strong sugarcane planting, and consistent government policies will help Renuka influence the business trajectory going forward.” Result PDF