Shree Renuka Sugars announced Q1FY23 Result : Shree Renuka Sugars Limited (SRSL) empowering growth, driven by performance across all segments Total Income higher by 141%, driven by volume and price growth, with refinery and distillery segments being the major contributors. Total income up by 141% over the previous year from INR 8,067 Mn to INR 19,401 Mn. The company posted strong Q1 performance driven by double digit volume growth and higher margins across all its business segments compared to a year ago. Growth was led by 1) Refinery (175%) & Distillery (89%), 2) Consumer pack sales grew by 4%. Realization remained robust and improved by 5%. Distillery had a record production of 4.62 crore litres despite being off season due to availability of stored molasses, compared to 1.84 crore litres produced in the previous year. Mr Atul Chaturvedi, Executive Chairman “This quarter’s results must be seen in the light of soaring global inflation, high interest rates, high crude prices and weakening currency. Commodity markets remain very volatile, compelling Government to resort to export restrictions. Our total income for the quarter has increased by 141% over the previous year. Revenues have grown significantly across all segments with better sales realization. With the onset of good monsoon in the country, we anticipate better sugarcane availability in the upcoming season (October-September) also. Besides improving the balance sheet and cash flows of sugar mills, higher ethanol sales has ensured timely payment of cane dues to farmers and balance out sugar inventories. We remain very optimistic in the financial performance and overall growth of our Company.” Result PDF