Dwarikesh Sugar’s Lower Recoveries Impact Q3 Profitability: ICICI Direct
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Dwarikesh Sugar Industries Ltd. reported disappointing results with 9.2% decline in operating profit mainly due to muted sugar realisation and rise in cost of production due to lower recoveries.
Consolidated revenues saw growth of 19.3% to Rs 381.2 crore led by higher sugar and distillery sales during the quarter.
Sugar volumes were up 12.7% given domestic sales quota was higher during festive months.
The company sold 1.03 lakh tonnes of sugar in Q3. However, sugar realisation dipped 2.6% impacted by late announcement of export subsidy, early start of the crushing season and higher domestic sales quota.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.