ICICI Direct: Dwarikesh Sugar - Scaling Up Of Distillery Operations To Aid Earnings Post Q2
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ICICI Direct Report
Dwarikesh Sugar Industries Ltd. posted a strong set of results with 138.3% revenue growth to Rs 417.4 crore, mainly on account of higher sugar and ethanol sales.
Sugar sales grew 123.4% led by higher domestic sales quota and export.
Ethanol sales were up from Rs 4.3 crore to Rs 39.6 crore aided by higher ethanol volumes as company commissioned 100 kilo litre per day distillery in December 2019.
The company sold entire C heavy ethanol during the quarter, which restricted realisation at Rs 43.8 per litre in Q2.
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