Sugar prices witnessed a sharp decline in Q3 FY18

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The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 05thFebruary, 2018 took on record the Unaudited Financial Results for the quarter ended 31stDecember, 2017.                                                                                              

Particulars (Rs crore) Q3

FY18

Q3

FY17

9M

FY18

9M

FY17

Total Income 683 470 1,926 1,374
EBITDA 80 110 283 282
PBDT 55 71 164 150
PAT 43 59 128 124
EPS (Rs.) (not annualized) 43 59 127 123

 

Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: 

“After a strong first half FY18, sugar prices witnessed a sharp decline in Q3 FY18, continuing in Q4 FY18. In anticipation of a higher production during the season 2017-18 and 2018-19, there was a strong sense of pessimism in the market with a bearish trend. While the fundamentals of the industry are still strong, it is expected that stability will return during Q1 of FY19. Avadh Sugar has focused on de-leveraging and reducing its finance cost apart from focusing on efficiency enhancement and de-bottlenecking. We are happy that our cane development programme is bearing fruit and we see this stabilising our performance in the future.”

 

 

 

 

 

 

 

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