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Avadh Sugar & Energy Ltd Q4FY24 PAT drops to Rs 55 cr

Avadh Sugar & Energy Ltd Q4FY24 PAT drops to Rs 55 cr

| @indiablooms | 22 May 2024, 01:05 am

Mumbai: Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) reported a drop in PAT in Q4FY24 at Rs 55 crore as against Rs 79 crore in Q4FY23.

The company’s total income in Q4FY24 at Rs. 621 crore as against Rs. 848 crore in Q4FY23.

EBITDA stood Rs 122 crore as against Rs 142 crore in Q4FY23.

For the whole FY24, PAT in FY24 at Rs 128 crore as against Rs 100 crore in FY23.

Total Income in FY24 at Rs. 2,697 crore as against Rs. 2,807 crore in FY23.

EBITDA in FY24 at Rs 334 crore as against Rs 264 crore in FY23.

The Board of Directors has recommended a dividend of Rs 10 per share on face value of Rs 10 each.

Commenting on the results, C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: "Despite challenges like lower production due to the impact of El Nino and Red Rot disease early in the year, alongside higher costs due to Uttar Pradesh's SAP hike and unforeseen regulatory constraints on sugar exports and ethanol diversion, we have remained resilient.

“The apprehensions of possible sugar shortage proved to be unfounded with an upward trend in sugar production for SS 2023-24 due to higher sugarcane yield in Maharashtra and Karnataka compared to previous estimates leading to a sense of optimism for industry as a whole in the near future.

“At Avadh, our strategic vision is centered on seeking growth opportunities and harnessing them carefully to create enduring and sustainable value for our stakeholders. To achieve the growth, the company has now embarked on enhancing its sugarcane crushing capacity and improving energy efficiencies at its various units.  Avadh is poised to confidently embrace the future and embark on the next exciting phase of growth.”

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