Avadh Sugar & Energy Limited (ASEL) declares Financial Results for the first quarter ended 30th June, 2017

International News

The Board of Directors of ASEL at its meeting held on 12th August, 2017 took on record the Unaudited Financial Results for the first quarter ended30th June, 2017.

 

YOY Net Revenue grows by 36.11% to Rs.618.43crore from 454.36

 

YOY EBITDA at Rs.95.94 crore vis-à-vis Rs.86.58 crore

 

YOY PBT grew by 17.76% to Rs. 43.87 crore from Rs.37.24 crore

 

YOY EPS at Rs.33.79 vis-à-vis EPS at Rs.30.63

 

FINANCIALS AT A GLANCE

 

Q1 FY18

Rs. in Lacs

Q1 FY17

Rs. in Lacs

%Y-o-Y Growth
Revenue from operations  61847.22  45436.44 36.11%
EBITDA 9593.43  8658.25 10.80%
Profit Before Tax 4386.42  3723.75 17.76%
Profit After Tax 3382.38 3065.75 10.30%
Total Comprehensive Income 3352.87 3138.64
EPS (Basic & Diluted) (Not Annualised)  33.79 30.63 10.32%

 

Commenting on the results, Shri Chandra Shekhar Nopany, Co-Chairperson, Avadh Sugar & Energy Limited said:

 

“After a much needed correction in sugar production, the inventories of sugar in India are now at comfortable levels resulting in an improvement and stability in sugar prices. The advent of good monsoons coupled with higher plantation, a significant improvement in sugar production in 2017-18 is expected. The pragmatic policies of the Government of India and State Government have also helped in reducing the cane arrears to the farmers.

 

 

Avadh Sugar has now completed its restructuring and business consolidation in U.P. The Company is now focussing on paring the high cost debts and undertaking fiscal consolidation. Furthermore, the Company has also undertaken efficiency scheme along with enhanced cane development to further improve its margins.”

 

Highlights:

 

  • The equity shares of the Company have been listed on NSE, BSE and CSE and started trading w.e.f. July 28, 2017.

 

  • The Company has been assigned Arating by CARE for its long term borrowings.

 

  • The Company has initiated Capital Investment in Energy Efficiency and debottlenecking which will result in savings in operational cost and thus improve margins.

 

About: Avadh Sugar & Energy Limited (ASEL)

 

The Company deal in sugar and sugar products, spirits and alcohol of denatured of any strength and all other products arising out of the manufacturing process of sugar or resultant of any activity related to sugar business, generation of power through various means.

 

The Company is having four sugar mills at Hargaon (District Sitapur, Uttar Pradesh), Seohara (District Bijnor, Uttar Pradesh), New India Sugar Mills, Hata (District Kushinagar, Uttar Pradesh), Rosa Sugar Works at Rosa (District Shahajahanpur, Uttar Pradesh) with a combined crushing capacity of 31,200 TCD. The Company is also having two distilleries at Hargaon and at Seohara with a total capacity of 200 KLPD. The Company is also having Cogen facility and can generate 74 MW power.

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