ICICI Direct: Dalmia Bharat Sugar Reports Strong Q1 Aided By Sugar Exports; Distillery Sales To Perk Up Cash Flows

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Dalmia Bharat Sugar and Industries Ltd. reported a strong performance with 51% revenue growth on the back of 57.8% growth in sugar sales, 43.7% growth in distillery sales.The company sold 2.03 lakh tonne (lt) of sugar in Q1, 50% higher compared to corresponding quarter. Higher volumes were aided by 1.0 lakh tonne of export during the quarter.In total, Dalmia Bharat Sugar has been allocated 1.75 lakh tonne of export quota in 2019-20 sugar season. Of this, it has already exported 1.27 lakh tonne and rest 0.48 lakh tonne would be exported in September quarter.In domestic sales, the company sold 1.02 lakh tonne sugar (small quantity of March quota would have been sold in Q1).Strong distillery sales were aided by 17% increase in ethanol volume to 2.3 crore litre. Power sales were down 1.3% to Rs 78.1 crore mainly due to 10% de-growth in power volumes (sold 9 crore units).Operating profit increased 106.7% to Rs 197 crore with higher sugar and ethanol volumes. Net profit increased 118.7% to Rs 125.9 crore driven by higher operating profits and stable interest cost, depreciation provisioning..Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage 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.

ICICI Direct: Dalmia Bharat Sugar Reports Strong Q1 Aided By Sugar Exports; Distillery Sales To Perk Up Cash Flows

ICICI Direct: Dalmia Bharat Sugar Reports Strong Q1 Aided By Sugar Exports; Distillery Sales To Perk Up Cash Flows

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