The Board of Directors ofMagadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR / CSE:23935) at its meeting held on 15thMay, 2018 took on record the Audited Financial Results for the financial year ended 2018.
|Particulars (Rs crore)||Q4
|Total Income (Net)||181||203||717||681|
|EPS (Rs.) (not annualized)||16.29||18.74||24.75||57.47|
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“The season 2017-18 has seen a reversal of fortunes in the sugar industry in India. Record production witnessed sugar prices crashing and cane arrears mounting as we close crushing operation of 2017-18. Sugarcane remains the most profitable crop for the farmers and the surplus scenario is likely to continue during season 2018-19.
Despite the strong headwinds, I am happy that Magdh Sugar & Energy has performed well with our plants operating at optimum efficiency and recorded the highest recoveries in Bihar. We are hopeful that the Government of India and Bihar will initiate proactive steps to tackle the imbalance in the industry.”