Dwarikesh Sugar Industries announced Q1FY23 results: In Q1 FY23: The company reported profit before tax (PBT) of Rs. 56.70 crore registering 59% growth as compared to the corresponding quarter last year. The company reported profit after tax (PAT) of Rs.39.70 crore thus registering 46% growth in PAT as compared to the corresponding quarter last year Result PDF
Dwarikesh Sugar Industries declares Q4FY22 result: During Q4FY22 Company’s EBIDTA margin (EBIDTA /Revenue from operations) is 21.7% as compared to 14.0% during corresponding quarter last year. During FY22 Company’s EBIDTA margin (EBIDTA /Revenue from operations) is 14.9% as compared to 11.3% during FY 21. Sugar sold during Q4FY22 is 10.11 lakhs quintals (all domestic) as compared to 15.23 lakh quintals sale of sugar (including export of 7.95 lakh quintals export) during corresponding quarter last year. Sugar sold during FY22 is 45.99 lakhs quintals (including export of 2.50 lakh quintals) as compared to 49.49 lakh quintals (including 15.99 lakh quintals of sugar exported during FY 21. Sugar stock as on 31st March 2022 was 19.63 lakh quintals as compared to stock of 26.02 lakh quintal as on 31st March 2021. Industrial Alcohol sold during Q4FY22 and FY22 is 16,526 KL and 55,728 KL respectively as compared to 12,833 KL and 31,732 KL industrial alcohol sold during corresponding periods last year. On 31st March, 2022, the company had outstanding longterm loans of Rs.252.40 crore including SEFASU 2018 loan of Rs.60.52 crore. Balance amount of Rs.191.88 crore is the loan availed for the distillery projects including Rs. 104.22 Crore loan for ongoing distillery project at DD unit (under disbursal). All the outstanding long-term loans are at concessional rate of interest. Long term rating accorded by ICRA is reaffirmed at A+. However, the rating outlook is revised to ‘positive’ from ‘stable’. Short-term rating accorded to the Company by ICRA for CP program of Rs.300 Crore is also reaffirmed at A1+ Whereas DD Unit of the company closed its crushing operations of SS 2021-22 on 20th April, 2022, DP & DD units likely to close in mid- May. The project execution work at DD distillery unit is on schedule and the distillery unit is likely to commence production in June, 2022. The setting up of the distillery will be significant milestone in the journey of company as the setting up of the distillery will result in more broad-based & remunerative revenue stream for the future. Result PDF
Dwarikesh Sugar Industries declares Q3FY22 result: In Q3FY22, the company reported a total income of Rs 602.32 crore, profit before tax (PBT) of Rs 41.11 crore and profit after tax (PAT) of Rs 28.88 crore registering 56% growth in total income, 465% growth in PBT and 286% growth in PAT as compared to same quarter last year. In 9MFY22, the company reported total income of Rs. 1,501.74 crores, PBT of Rs. 132.93 crore and PAT of Rs. 95.60 crore registering 21% growth in total income, 135% growth in PBT and 121% growth in PAT as compared to corresponding period last year. During Q3FY22 Company’s EBIDTA margin (EBIDTA /Revenue from operations) is 9.3% as compared to 7.1% during corresponding quarter last year. During 9MFY22 Company’s EBIDTA margin (EBIDTA /Revenue from operations) is 12.7% as compared to 10.0% during corresponding period last year. Sugar sold during Q3FY22 is 14.17 lakhs quintals (including export of 2.50 lakh quintals) as compared to 10.38 lakh quintals sale of sugar (all domestic) during corresponding quarter last year. Sugar sold during 9MFY22 is 35.88 lakhs quintals (including export of 2.50 lakh quintals) as compared to 34.26 lakh quintals (including 8.05 lakh quintals of sugar exported during corresponding period last year Sugar stock as on 31 st December 2021 was 11.07 lakh quintals as compared to stock of 19.49 lakh quintal as on 31 st December 2020. Industrial Alcohol sold during Q3FY22 and 9MFY22 is 11,326 KL and 39,202 KL respectively as compared to 5,553 KL and 18,899 KL industrial alcohol sold during corresponding periods last year. On 31 st December, 2021, the company had outstanding long term loans of Rs 190.74 crore including SEFASU 2018 loan of Rs 67.24 crore. Balance amount of Rs 123.50 crore is the loan availed for the distillery projects including Rs.30 Crore loan for ongoing distillery project at DD unit (under disbursal). All the outstanding long-term loans are at concessional rate of interest. Long term rating accorded by ICRA is reaffirmed at A+. However, the rating outlook is revised to ‘positive’ from ‘stable’. Short-term rating accorded to the Company by ICRA for CP program of Rs.300 Crore is also reaffirmed at A1+ Result PDF
HIGHLIGHTS During Q2FY22 Company’s EBIDTA margin (EBIDTA /Revenue from operations) is 14.91% as compared to 11.20% during corresponding quarter last year. During H1FY22 Company’s EBIDTA margin (EBIDTA /Revenue from operations) is 15.03% as compared to 11.36% during corresponding period last year. Sugar sold during Q2FY22 is 12.06 lakh quintals as compared to 11.32 lakh quintals (including export of 1.99 lakh quintals) sale of sugar during corresponding quarter last year. Sugar sold during H1FY22 is 21.70 lakhs quintals as compared to 23.88 lakh quintals (including export of 8.05 lakh quintals) during corresponding period last year. Sugar stock as on 30 th September 2021 was 13.33 lakh quintals as compared to stock of 17.66 lakh quintal as on 30th September 2020. Ethanol sold during Q2FY22 and H1FY22 is 16,711 KL and 27,876 KL respectively as compared to 8,993 KL and 13,346 KL ethanol sold during corresponding periods last year. Full-fledged crushing operations for SS 2021-22 across all units will commence during the first week of November, 2021. Unseasonal and more than normal rainfall has dented the possibility of early start of season. We continue our efforts towards improving operating efficiencies and control costs. On 30th September, 2021, the Company had outstanding long term loan of Rs. 173.31 crore including SEFASU 2018 (funded by the State Government of Uttar Pradesh to clear sugar cane dues of SS 2017-18) loan of Rs.73.96 crore. Balance amount of Rs. 99.35 crore is the loan availed for the distillery project. All the outstanding long term loans are at concessional rate of interest. Long term rating accorded by ICRA is maintained at A+ with stable outlook and the short term rating accorded to the Company by ICRA for CP program of Rs.300 crore is A1+ Result PDF
Conference Call with Dwarikesh Sugar Industries Management and Analysts on Key Business Updates. Click on the pdf to read the full transcript.