Kolkata, August 05, 2020: The Board of Directors of Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on 5thAugust, 2020 took on record the Unaudited Financial Results for the quarter ended 30thJune, 2020.
| Particulars (Rs crore) | Q1FY21 | Q1FY20 |
| Total Income | 193.30 | 180.33 |
| EBITDA | 18.07 | 27.06 |
| PBDT | 5.02 | 13.73 |
| PAT | 0.21 | 6.12 |
| EPS (Rs.) | 0.15 | 4.34 |
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“We are operating in a tough economic environment which continues to be uncertain given the Covid-19 pandemic. Our efforts over last couple of years in terms of optimizing costs, enhancing scale and integration along with diversified businesses have ensured stability of our businesses.
The sugar industry was on the road to recovery with the production for sugar season 2019-20 estimated to be lower than the previous sugar season. However, ISMA indicates a significant jump in supply for sugar season 2020-21. On the demand side, the sugar consumption was impacted due to Covid-19 related restrictions, which is improving as the economy continues to open.
Given the impending mismatch in the demand supply scenario, we are hopeful that the Government will continue its support to the sector by a slew of measures such as boosting B-heavy Ethanol; encouraging sugar exports, extension of sugar buffer stock as well as augmenting the MSP to clear the ever-increasing sugarcane arrears.”
Key Highlights
Sugar Stock as on 30thJune, 2020 was at 20.48 lakh quintals
- Average realization in Q1 FY21 was 3209/- per quintal
Corporate Comm India (CCI Newswire)
