Dwarikesh Sugar’s Lower Recoveries Impact Q3 Profitability: ICICI Direct
Workers arrange sugar cubes at the Simbhaoli Sugars Ltd. mill in Ghaziabad, Uttar Pradesh. (Photographer: Prashanth Vishwanathan/Bloomberg)

Dwarikesh Sugar’s Lower Recoveries Impact Q3 Profitability: ICICI Direct


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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:

ICICI Direct Dwarikesh Q3FY21 Result Update.pdf


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