Avadh Sugar & Energy Limited announces Q1FY21 earnings

The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 4th August, 2020 took on record the un-audited Financial Results for the Quarter ended June 2020.

Q1FY21 Results vs Q1FY20

- Total Income of Rs. 563.43 Crore in Q1FY21 vs Rs. 478.64 Crore in Q1FY20
- EBIDTA of Rs. 55.58 Crore vs Rs. 86.50 Crore
- EBIDTA Margin (%) at 9.86% vs 18.07%
- PBT of Rs. Rs. 15.54 Crore vs Rs. 41.32 Crore.
- PAT of Rs. 10.05 Crore vs Rs. 26.38 Crore
- EPS of Rs. 5.02 vs Rs. 13.18.

Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: After a lower estimated production in sugar season 2019-20 at 27 MMT, plantation reports indicate a significant jump in the sugarcane production for the season 2020-21. Lower consumption of sugar due to impact of Covid Pandemic is likely to further aggravate the supply demand mismatch as we go forward. We hope the Government will continue with its proactive measures to encourage production of B-Heavy Ethanol, aggressive export of sugar and extension of buffer stock to manage the impending glut. It is also expected that the MSP of sugar will be increased to enable swift clearance of sugarcane arrears that continue to be daunting.

Key Highlights

- Sugar Stock as on 30th June, 2020 was at 46.94 lakh quintals
- Average realization in Q1 FY21 was Rs. 3131.67 per quintal
- Expansion at Hargaon & Seohara Distillery on track; to be commissioned by Sept / Oct 2020

Shares of Avadh Sugar & Energy Ltd was last trading in BSE at Rs.167.3 as compared to the previous close of Rs. 172. The total number of shares traded during the day was 11918 in over 550 trades.

The stock hit an intraday high of Rs. 175.1 and intraday low of 164. The net turnover during the day was Rs. 2017005.

Source : Equity Bulls

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