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Magadh Sugar & Energy Ltd Q4FY24 PAT grows to Rs 47 cr
Photo Courtesy: Pixabay

Magadh Sugar & Energy Ltd Q4FY24 PAT grows to Rs 47 cr

| @indiablooms | 22 May 2024, 01:17 am

Mumbai: Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) reported an increase in PAT in Q4FY24 at Rs 47 crore as against Rs 35 crore in Q4FY23.

Total Income in Q4FY24 at Rs 288 crore as against Rs 299 crore in Q4FY23.

EBITDA in Q4FY24 at Rs 81 crore as against Rs 69 crore in Q4FY23.

For the whole FY24, PAT stood at Rs 117 crore as against Rs 50 crore in FY23.

Total income in FY24 at Rs 1098 crore as against Rs 955 crore in FY23.

EBITDA in FY24 at Rs 214 crore as against Rs 133 crore in FY23.

The Board of Directors has recommended a Dividend of Rs 15 per share on Face Value of Rs 10 each which includes a special one time dividend of Rs 5/- per share

Commenting on the results, C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said: “The resilience of the Indian Sugar Industry shines through, steadfast in the face of challenges like rising sugarcane prices in Bihar and evolving ethanol procurement directives. Our unwavering dedication to sustainable development and a comprehensive approach remains unwavering.

“As we look ahead, the industry is primed for growth in the forthcoming year, with forecasts pointing towards an upsurge in production. This upswing is set to bolster closing stocks, opening doors to broader avenues for export.

“At Magadh Sugar & Energy Ltd, we are pleased to report that our expansion plans remain on track. We have increased the capital outlay for capacity enhancements and other improvements at our facilities, underscoring our strong commitment to growth. We remain dedicated to creating value for all our stakeholders. Our team continues to work tirelessly to deliver excellence, drive innovation, and ensure the long-term success of our company."

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