Dalmia Bharat Sugar - Increasing Distillery Volumes To Boost Earnings: ICICI Direct
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ICICI Direct Report
Dalmia Bharat Sugar and Industries Ltd. reported strong Q4 FY21 results with 32.7% growth in operating profit led by increase in distillery volumes and higher proportion of B-heavy ethanol.
Consolidated sales declined 11.1% on account of absence of export volumes given the delay in announcement of export subsidy.
However, most sugar exports would be shipped and booked in Q1 FY22.
Sugar sales were down 18%, whereas distillery sales were up 23.2%.
The company sold 1.0 lakh tonne of sugar largely comprising domestic sales. Distillery volumes were up 10% to 2.1 crore litre.
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