Kolkata, August 08, 2018: The Board of Directors of Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on 07thAugust, 2018 took on record the un-audited Financial Results for the quarter ended June 2018.
|Particulars (Rs crore)||Q1
|Total Income (Net)||219.08||161.94||181.01|
|EBITDA Margin (%)||8.22%||4.31%||6.33%|
|EPS (Rs.) (not annualized)||1.39||(13.74)||16.29|
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“The sugar industry in India has presently entered a glut phase and we are expecting to start the season 2018-19 with a high opening inventory of 10.5 M.T. In anticipation of further increased production in 2018-19, sugar prices have remained bearish due to oversupply resulting in mounting cane arrears. We are grateful to the Government for taking a slew of proactive measures such as creation of buffer stock, production subsidies, encouraging exports and regulating monthly sales. This has helped in temporarily stabilizing sugar prices in a very fragile environment.
We at Magadh Sugar & Energy are always scouting for new opportunities for enhancing the value of the company. We continue to focus on cane development and cost efficiency measures to improve the performance of the company.”
Corporate Comm India(CCI Newswire)