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ICICI Direct Report
Dwarikesh Sugar Industries Ltd.'s revenues witnessed growth of 64.8% to Rs 646.5 crore led by splendid growth of 71.9% in sugar and 42.2% growth in distillery segment.
Sugar segment sales growth has been led by 58.7% increase in sugar volumes aided by sugar export of 50,000 tonnes. Domestic sales quota was also up 7% to 1.03 lakh tonnes.
Total sugar sold during the quarter was 1.53 lt. Domestic sugar realisation was up 7.6% to Rs 34.6/kg YoY.
Dwarikesh Sugar's distillery sales growth of 42.2% was led by 21.9% growth in ethanol volumes and 2.6% growth in realisation. It sold 1.56 crore litre of ethanol with average realisation of Rs 59.1/litre.
The growth in ethanol volumes was driven by full utilisation level of existing distillery capacities whereas realisation was up due to higher proportion of B-heavy ethanol.
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