Kolkata, West Bengal, May 10th 2022: The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 10th May, 2022 took on record the audited Financial Results for the Quarter and Year ended 31st March 2022.
Key Highlights:
▪ Total Ethanol capacity reached 325 KLPD in 2022
▪ The Board has recommended a dividend of Rs 10 per equity share (100% of FV of Rs 10 per equity share)
Financial Performance Highlights:
Q4 FY22
▪ Total Income at Rs. 760 crores
▪ PAT at Rs. 51 crores
FY22
▪ Total Income at Rs. 2,748 crores
▪ PAT at Rs. 124 crores, growth of 59% YoY
Operational Performance Highlights:
▪ Sugar production at 52.64 lakh qtls, sales at 62.09 lakh qtls and closing inventory at 29.07 lakh qtls (as on 31-Mar-22)
▪ Sugar Realization for FY22 at Rs. 3,390/- per quintal as against Rs. 3,185/- per quintal in FY21
▪ Ethanol dispatched at 824 lakh litres, grew by 24% YoY
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd 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 domestic market. Thrust towards ethanol continues to reduce cyclicality in sugar sector. Indian ethanol demand has a huge gap to fill which will continue capex cycle in sugar industry, and with introduction of flexi fuel vehicles, the ethanol demand can reach upto 4,000 crore litres in the next 5 years.
At Avadh Sugar & Energy Limited, the recently enhanced Ethanol capacity will improve profitability. The generated free cashflow was utilized towards strengthening balance sheet and repaying outside liabilities.
The persistence towards sustainable growth will enable your company to create value for all stakeholders.”
CIN: L15122UP2015PLC069635
The company deals in Sugar, Spirits and Ethanol, Cogeneration and other By-products arising out of the manufacturing process of sugar or resultant of any activity related to sugar business. The company is having four sugar mills at Hargaon (District Sitapur, Uttar Pradesh), Seohara (District Bijnor, Uttar Pradesh), New India Sugar Mills, Hata (District Khushinagar, Uttar Pradesh), Rosa Sugar Works at Rosa (District Shahajahanpur, Uttar Pradesh) with a combined crushing capacity of 31,800 TCD. The company is also having two distilleries at Hargaon and at Seohara with a total Ethanol capacity of 325 KLPD (B Heavy). The Company is also having Cogen facility and can
generate 74 MW power.
Corporate Comm India (CCI Newswire)
