Dalmia Bharat Sugar Q3 Review - Higher Distillery Volumes To Drive Profit: ICICI Direct
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ICICI Direct Report
Dalmia Bharat Sugar and Industries Ltd. reported a strong set of number with revenue growth of 20.1% and profit before tax growth of 13.5%.
The healthy revenue growth was led by 17.9% increase in sugar sales led by higher domestic sales quota during festive season and 31.3% jump in distillery volumes given new capacities have been commissioned in the last one year.
Operating profit was flat due to increase in fair and remunerative price for Maharashtra mills and significant reduction in inventory (the company is holding only new season sugar inventory as on December 2020, which is a high cost inventory).
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