Avadh Sugar Energy Ltd
Avadh Sugar Energy Ltd Q2 and H1 FY22 financial results
Kolkata/IBNS: Avadh Sugar & Energy Limited (ASEL), a KK Birla group company, posted a net profit of Rs 25.24 crore in Q2FY22 as against Rs 7.21 core of the corresponding quarter last year with a total income at Rs 621 crore.
The Board of Directors of Avadh Sugar Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on November 10 took on record the un-audited financial results for the quarter ended Sept 2021.
Key Highlights: Financial Performance Highlights:
Q2 FY22:
Total Income at Rs. 621 crores, same as Q2 FY21
EBITDA stood at Rs. 76 crore as against Rs. 55 crores in Q2 FY21
PAT at Rs 25 crore as against Rs 7 crore in Q2 FY21.
Closing stock inventory stood at 19.07 lakh quintals as against 30.90 lakh quintals.
H1 FY22:
Total Income at Rs. 1240 crore as against Rs. 1,184 crore in H1 FY21
EBITDA stood at Rs. 147 crore as against Rs. 110 crore in H1 FY21
PAT at Rs 44 crore as against Rs 17 crore in HY1 FY 21
Commenting on the results, C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: “A strong push towards ethanol manufacturing and sugar exports due to a shortfall in production in other sugar-producing nations, sugar prices have firmed up during the current quarter.
"Sugar production in India is likely to be lower due to unseasonal, erratic and excessive rainfall during the current year and diversion of sugarcane into Ethanol manufacturing reducing the glut-like situation that has been prevailing in the past few seasons."
The U.P Government has increased the price of sugarcane by Rs. 25/qtl for the season 2021- 22 to offset the increase in costs, Nopany said.
Overall, it appears that balance is being restored in the supply-demand
equation due to the pragmatic and forward-looking policies of both the Central and the State Governments, he added.
Avadh is continuing to focus on efficiency improvement and profitability enhancement by way of fiscal consolidation, modernization and expansion of ethanol capacity. The company will continue to focus on deleveraging and capitalize on the opportunities that are currently prevailing.
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