Kolkata: Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) posted a profit after tax (PAT) of Rs 51 crores for the quarter ended March 31, 2022.
The company’s PAT for FY22 stood at Rs 124 crores, up 59 percent YoY. Its total income stood at Rs 760 crores for the quarter under review, while it was Rs 2,748 crores for the financial year 2021-22.
ASEL’s sugar production was at 52.64 lakh quintals and its sales stood at 62.09 lakh quintals.
Its closing inventory was 29.07 lakh quintals as of March 31, 2022.
Sugar Realization for FY22 was at Rs 3,390 per quintal as against Rs 3,185 per quintal in FY21.
In 2022, ASEL’s total ethanol capacity reached 325 KLPD. Ethanol dispatched at 824 lakh litres, grew by 24 percent YoY
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: “Commenting on the results, Avadh Sugar & Energy Co-Chairperson C.S. Nopany said: “Indian sugar industry witnessed various tailwinds, elevating Indian sugar millers to a strong position globally. The change in global and domestic market dynamics enabled domestic sugar millers to achieve healthy growth.
“Indian sugar exports played a pivotal role to strengthen sugar realizations in the domestic market. The thrust towards ethanol continues to reduce cyclicality in the sugar sector. Indian ethanol demand has a huge gap to fill which will continue the capex cycle in the sugar industry, and with the introduction of flexi fuel vehicles, the ethanol demand can reach up to 4,000 crore litres in the next five years.”
Nopany said the company’s recently enhanced ethanol capacity will improve profitability.
“The generated free cash flow was utilized towards strengthening the balance sheet and repaying outside liabilities. The persistence towards sustainable growth will enable your company to create value for all stakeholders,” he added.
ASEL’S board has recommended a dividend of Rs 10 per equity share (100 percent of FV of Rs 10 per equity share).