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ICICI Direct Report
Dwarikesh Sugar Industries Ltd. reported strong profit growth in Q1 FY22.
Revenue saw de-growth of 10.9% during the quarter mainly on account of lack of exports.
The company received additional export quota in base quarter due to the re-allocation.
In the last sugar season, Dwarikesh Sugar exported 1.2 lakh tonnes of sugar whereas in the current sugar season (2020-21), it has exported 0.8 litre, which was exhausted in the last quarter.
Sugar segment sales declined 22% due to lower exports. Domestic sugar sales quota was 96,380 tonne in Q1.
Distillery sales grew to three times to 1.1 crore litre with the scale up capacity utilisation, higher proportion of B-heavy ethanol.
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