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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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:

ICICI Direct Dwarikesh Q3FY21 Result Update.pdf

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