The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 06th August, 2018 took on record the un-audited Financial Results for the quarter ended June 2018.
|Particulars (Rs crore)||Q1
|Total Income (Net)||596||618||445|
|EPS (Rs.) ( not annualized)||36||34||(39)|
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:
“The overall outlook for sugar remained fragile, in the first half of the quarter, the average sugar prices pegged close to Rs. 27 Kg against high of Rs. 36 kg in corresponding previous quarter. The oversupply situation of sugar in the country has dragged the sugar mills under serious margin pressure. Government is proactively reacting to the situation and has been taking many initiatives to help the sugar mills like creation of buffer stocks, regulating monthly sales, mandating exports etc. These initiatives will definitely have positive outcome and currently in July we have witnessed some recovery in the average sugar prices to Rs. 32.50 per Kg (ex-mill Uttar Pradesh) compared to Rs. 27 per kg in May, 2018. Another positive outlook for the sugar industry is the government’s initiative to increase the ethanol blending in fuel and providing subsidies to expand the capacities for ethanol production to sugar mills. We at Avadh Sugar & Energy are operating at our best efficiencies, though the market conditions have been creating some pressure on our performance; we strongly believe that this will be a temporary phase. We are always keen on exploring new opportunities and reap the benefits of it. With our experienced team and proactive steps we are confident to perform at our best competence going forward”.
- Sugar Stock as on 30th June was at 69 lakh quintals
- Average realization in Q1FY19 – Rs. 2765 per quintal against Rs. 3616 per quintal in Q1FY18.