Q1 2025 Dwarikesh Sugar Industries Ltd Earnings Call Transcript
Key Points
- Dwarikesh Sugar Industries Ltd (BOM:532610) reported a 6% increase in sugar prices, selling at INR3,833 compared to INR3,608 in the previous year.
- The company has cleared all cane price payments for the 2023-24 season ahead of schedule.
- Dwarikesh Sugar Industries Ltd (BOM:532610) holds a strong credit rating with a long-term rating of AA- and a short-term rating of A1+ for its INR300 crores Commercial Paper program.
- The government is expected to reintroduce the ethanol blending program after September 30, 2024, which should positively impact the company's operations.
- The company has undertaken significant measures for red rot management and varietal changes, which are expected to improve crop yield and recovery rates in the upcoming seasons.
- The company experienced a significant drop in revenue, with the top line decreasing by about INR230 crores compared to the previous year.
- Dwarikesh Sugar Industries Ltd (BOM:532610) reported a loss after tax of INR9.73 crores for the quarter.
- Sugarcane crushing activities were completely halted in Q1 FY25 due to the early closure of the sugar season, leading to no production activity.
- Ethanol sales saw a notable decline, with only 123 lakh liters sold compared to 303 lakh liters in the corresponding quarter last year.
- The company faced unabsorbed overheads due to the lack of production activity, contributing to the financial losses.
Ladies and gentlemen, good day, and welcome to Dwarikesh Sugar Industries Q1 FY25 conference call hosted by Dolat Capital. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Nitesh Dhoot from Dolat Capital. Thank you and over to you, sir.
Thank you, Aditi. Good afternoon, everyone. On behalf of Dolat Capital, I would like to thank the management of Dwarikesh Sugar Industries for giving us the opportunity to host their Q1 FY25 earnings conference call. From the management team, we have with us today, Mr. Vijay S. Banka, Managing Director; and Mr. B.J. Maheshwari, Managing Director and Company Secretary cum Chief Compliance Officer. Without further ado, I would like to hand over the call to the management for their opening remarks, post which we'll open the forum for a Q&A session. Thank you and over to you, Mr. Banka.
Yeah, very
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