The Board of Directors ofAvadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR/ CSE:11610) at its meeting held on 14thMay, 2018 took on record the Audited Financial Results for the year ended March 31, 2018.
|Particulars (Rs crore)||Q4
|Total Income (Net)||445||683||2335||1875|
|EPS (Rs.) (* not annualized)||(39)*||43*||88||203|
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:
“Sugar industry faced many headwinds in this fiscal, with a good recovery in the first half and over production situation in the second half. Sugar industry is experiencing a record highproduction in sugar season 2017-18 compared to past 15 years production, resulting into oversupply situationwhich led to a crash in the sugar prices.
The Industry is facing tremendous challenges with cane arrears already mounting. We are hopeful that with the active support of the Central and State Governments some solution will be achieved.
Our priority will always be to make conscious efforts to sustain our core business strategy. Maintaining healthy relationship with farmers will be our key focus area. We believe the current challenges will have a temporary effect on the business and we continue to strengthen our operations.”