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ICICI Direct Report
Dwarikesh Sugar Industries Ltd.'s consolidated revenue witnessed growth of 57.8% Rs 601.3 crore led by 52.8% growth in sugar segment sales and 157% growth in distillery segment sales.
Sugar segment sales growth was led by higher domestic sales quota and increase in sugar realisation.
Sugar volumes increased 36.6% to 1.4 lakh tonnes, which includes 25,000 tonnes of exports and 1.15 litre of domestic sales. With the firm domestic sugar prices led by higher exports and increasing sugarcane diversion towards ethanol, sugar realisation increased by 11.5% to Rs 35.4/litre.
Dwarikesh Sugar's distillery volumes grew to two times to 1.13 crore litre with the ramping up capacity utilisation. Further, distillery realisation increased 26% to Rs 58.6/litre on account of increasing proportion of B-heavy ethanol.
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