ICICI Direct: Dwarikesh Sugar - Scaling Up Of Distillery Operations To Aid Earnings Post Q2
A worker pours sugar into a machine for forming sugar cubes at a mill in Ghaziabad, Uttar Pradesh, India (Photographer Prashanth Vishwanathan/Bloomberg)

ICICI Direct: Dwarikesh Sugar - Scaling Up Of Distillery Operations To Aid Earnings Post Q2

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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. 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.

Click on the attachment to read the full report:

ICICI Direct Dwarikesh Q2FY21 Result Update.pdf

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