Q1FY2020 Results
EBIDTA of Rs. 27.12 Crore | grew by 51% YoY
PAT ofRs. 6.12 Crore | robust growth of337%YoY
Kolkata, August 18, 2019:The Board of Directors of Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on 09thAugust, 2019 took on record the audited Financial Results for the quarter ended 30thJune, 2019.
| Particulars (Rs crore) | Q1
FY20 |
Q1
FY19 |
| Total Income | 180 | 217 |
| EBITDA | 27.12 | 18.00 |
| PBDT | 13.79 | 7.16 |
| PAT | 6.12 | 1.40 |
| EPS (Rs.) NOT ANNUALISED | 4.34 | 0.99 |
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“Sugar industry experienced changing market dynamics andnumerous structural deviations amid overproduction scenario creating havoc in the industry. Plunge in realizations and pile of sugar inventory led to inability of the millers to meet their obligations towards farmers leading to creation of cane arrears.To address the situation, Government of India undertook various measures to divert the sugar production towardsethanol. 2018-19SS experienced a surge of 10% in area under sugarcane production.
GOI’s thrust towards improvement in export viability along with surge in diversion of sugar capacities towards ethanol will enable millers to achieve economies of scale.Magadh Sugar had achieved the highest yield in Bihar last fiscal and we believe the trend to continue for this fiscal. We are operating at our best operating efficiencies and shall continue our growth trajectory going ahead.”
| Key Highlights |
- Sugar Stock as on 30th June was at 18.12 lakh quintals
- Average realization in Q1FY20 Rs3,335 per quintal against Rs.2,821 per quintal in Q1FY19
Corporate Comm India (CCI Newswire)
