Avadh Sugar Q4 Review - Increasing Global Sugar Prices Likely To Drive Exports: ICICI Direct
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ICICI Direct Report
Avadh Sugar and Energy Ltd. reported Q4 FY21 results with 7.5% revenue and 12.6% profit before tax growth.
Revenue growth was led by 26.6% growth in distillery, 7.5% growth in sugar sales.
Sugar volumes were up 6.2% on account of higher exports volume given the government announced export subsidy in December 2020.
However, sugar prices stayed muted at Rs 31.3/kilo gram due to dismal winter demand and peak crushing season.
Distillery volumes increased 17.7% to 1.6 crore litre with the installation of insinuation boiler at one of its distilleries at the start of the crushing season.
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