Conference Call with Dwarikesh Sugar Industries Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Dwarikesh Sugar Industries Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Dwarikesh Sugar Industries Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Sugar company Dwarikesh Sugar Industries announced Q1FY25 results: In Q1FY25, the company reported loss before tax (LBT) of Rs 14.99 crore and loss after tax (LAT) of Rs 9.73 crore as compared to PBT of Rs 59.09 crore and PAT of Rs 40.62 crore reported during Q1FY24. Sugar sold during Q1FY25 is 6.75 lakh quintals as compared to 9.70 lakh quintals of sugar sold during corresponding quarter last year. Average realization on domestic sugar sold during the quarter was Rs 3,833 per quintal vis-à-vis realization of Rs 3,608 per quintal during the corresponding quarter last year. Sugar stock as on 30th June 2024 was 11.56 lakh quintals as compared to stock of 9.87 lakh quintals as on 30 th June 2023. Sugar stock as on 30th June, 2024 is valued at Rs 3,360 per quintal. Industrial Alcohol sold during Q1FY25 is 12,358 KL as compared to 30,354 KL during corresponding period last year. Company continued to make cane price payment ahead of schedule and has cleared the cane dues of SS 2023-24 in entirety. On 30th June 2024, the company had outstanding longterm loans of Rs 192.82 crore. SEFASU 2018 loan of Rs 134.48 crore was repaid in full. Outstanding loan amount is in respect of loans availed for the distillery projects at DN & DD units. All the outstanding longterm loans are at concessional rate of interest. Company enjoys long term rating of (ICRA) AA- (pronounced as AA minus). The outlook assigned is ‘stable’. In Q1FY25, the sugar industry experienced subdued sales and off-take compared to the corresponding period last year. Sugar releases saw a notable decline, with nearly 3 lakh quintals fewer sold. The financial results for Q1FY25 were impacted by the cessation of crushing activities during the quarter. This halt resulted in the un-absorption of overhead costs, which typically spreads over operational periods when crushing and production are active. Additionally, the restrictions imposed by the government on the use of cane juice and B heavy molasses for ethanol production further made the situation more challenging. Vijay S. Banka, Managing Director, Dwarikesh Sugar Industries said: The latest projections from the Indian Sugar & Bio-energy Manufacturers Association indicate that sugar production for the 2023- 24 season is set to reach 32 million tons, factoring in a diversion of 1.7 million tons towards ethanol production. According to the recent estimates from the Indian Sugar & Bio-energy Manufacturers Association (ISMA), the gross sugar production for the sugar season 2024-25 is projected to reach 33.3 million tons. However, much depends on the remainder of the monsoon season. More accurate forecasts are expected in the coming months, as the intensity and distribution of rainfall during the monsoon will play a crucial role in determining crop yields and overall production levels. Although there is potential for the resumption of the ethanol blending program, policy regarding possible allowances for sugar exports will perhaps be crafted once more clearer sugar production estimates are available. Sugar prices, which were range bound between Rs 3,800 and Rs 3,900 per quintal, suffered a dent in July 2024 due to extensive rainfall across the country. However, sugar prices have once again surged towards the end of July 2024. Result PDF
Sugar manufacturing company Dwarikesh Sugar Industries announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Quantity of sugar sold: 5.69 lakh quintals (all domestic) compared to 8.75 lakh quintals (including export of 0.66 lakh quintals) in Q4FY23. Average realization on domestic sugar sold: Rs 3,763 per quintal compared to Rs 3,410 per quintal in Q4FY23. Industrial Alcohol sold: 21,145 KL compared to 29,501 KL in Q4FY23. Outstanding long-term loans: Rs 214.67 crore including SEFASU 2018 loan of Rs 6.72 crore, with the balance amount of Rs 207.95 crore in respect of loans availed for the distillery projects. Profit before tax (PBT): Rs 55.80 crore Profit after tax (PAT): Rs 22.89 crore FY24 Financial Highlights: Quantity of sugar sold: 27.52 lakh quintals (all domestic) compared to 42.00 lakh quintals (including export of 10.00 lakh quintals) in the previous year. Average realization on domestic sugar sold: Rs 3,707 per quintal compared to Rs 3,464 per quintal in the previous year. Industrial Alcohol sold: 94,407 KL compared to 84,175 KL in the previous year, with 20,944 KL made from sugarcane juice/syrup directly compared to 46,203 KL sold (made from sugarcane juice directly) in the previous year. Sugar stock: 18.31 lakh quintals compared to 10.61 lakh quintals as on 31st March 2023, valued at Rs 3,355 per quintal. Profit before tax (PBT): Rs 143.99 crore Profit after tax (PAT): Rs 83.52 crore Result PDF
Dwarikesh Sugar Industries announced Q2FY24 & H1FY24 results: 1. Financial Performance: - Dwarikesh Sugar Industries reported a profit before tax (PBT) of Rs 14.93 crore and profit after tax (PAT) of Rs 10.26 crore in Q2FY24, compared to PBT of Rs 11.19 crore and PAT of Rs 7.84 crore in Q2FY23. - Total income for the quarter was Rs 448.68 crore, compared to Rs 542.42 crore in Q2FY23. - For H1FY24, the company reported a PBT of Rs 74.01 crore and a PAT of Rs 50.88 crore. - The total income for H1FY24 was Rs 1,020.22 crore, compared to Rs 1,190.83 crore in H1FY23. 2. Sugar Production and Prices: - The Indian Sugar Mills Association (ISMA) has estimated that sugar production for the current season is 31.7 million tons, a decrease from 32.8 million tons in the previous season. - Sugar prices have shown a notable resurgence, currently ranging between Rs 3,800 and Rs 3,900 per quintal. 3. Sales and Stock: - Sugar sales for Q2FY24 were 7.19 lakh quintals, a decline from 11.49 lakh quintals in Q2FY23. The average realization on sugar sold during the quarter was Rs 3696 per quintal. - Sugar sales for H1FY24 were 16.89 lakh quintals, compared to 26.78 lakh quintals in H1FY23. The average realization on sugar sold during H1 was Rs 3,645 per quintal. - Sugar stock as of September 30, 2023, was 2.68 lakh quintals, compared to 1.81 lakh quintals as of September 30, 2022. 4. Industrial Alcohol Sales: - Industrial alcohol sales for Q2FY24 were 28,736 KL, compared to 22,257 KL in Q2FY23. - Industrial alcohol sales for H1FY24 were 59,090 KL, compared to 37,892 KL in H1FY23. 5. Loan Obligations: - As of September 30, 2023, the company had outstanding long-term loans of Rs 258.37 crore, including a loan of Rs 20.17 crore for SEFASU 2018. 6. Outlook and Operational Efficiencies: - The company highlights its commitment to enhancing operational efficiencies and maintaining strict cost controls. - Despite challenges posed by weather conditions and pests, the company remains dedicated to optimizing its operations and ensuring sustainable performance. Result PDF
Dwarikesh Sugar Industries announced Q1FY24 results: Q1FY24 vs Q1FY23: Total income: Rs 571.54 crore vs Rs 648.42 crore EBIDTA: Rs 77.39 crore vs Rs 75.23 crore PBT: Rs 59.09 crore vs Rs 56.70 crore PAT: Rs 40.62 crore vs Rs 39.70 crore EPS: Rs 2.16/share vs Rs 2.11/share Result PDF
Dwarikesh Sugar Industries announced Q4FY23 & FY23 results: Q4FY23 vs Q4FY22: Total Income: Rs 534.44 crore vs Rs 475.86 crore EBITDA: Rs 88.32 crore vs Rs 102.96 crore PBT: Rs 69.59 crore vs Rs 85.74 crore PAT: Rs 46.75 crore vs Rs 59.61 crore EPS: Rs 2.48/share vs Rs 3.17/share FY23 vs FY22: Total Income: Rs 2,117.00 crore vs Rs 1,981.95 crore EBITDA: Rs 228.57 crore vs Rs 293.96 crore PBT: Rs 152.51 crore vs Rs 218.67 crore PAT: Rs 104.81 crore vs Rs 155.22 crore EPS: Rs 5.57/share vs Rs 8.24/share Result PDF
Conference Call with Dwarikesh Sugar Industries Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.