Magadh Sugar & Energy Limited has announced the Unaudited Financial Results for the Quarter and Nine Months Ended December 31, 2020.
Financial Performance Highlights:
Q3 FY21
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Total Income is Rs222cr over Rs282cr in Q3 FY20
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EBITDA stood at Rs41cr as against Rs48cr in Q3 FY20
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PAT stood at Rs15cr as against Rs21cr in Q3 FY20
9M FY21
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Total Income is Rs628cr at same level to Rs628cr in 9M FY20
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EBITDA stood at Rs64cr as against Rs95cr in 9M FY20
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PAT stood at Rs5cr as against Rs29cr in 9M FY20
Commenting on the results, C.S. Nopany, Co-Chairperson, Magadh Sugar & Energy Ltd said, “The FY21 started on a positive note, the roll-out of Covid-19 vaccine to further accelerate the economic revival. However, during the quarter, Company delivered a flattish performance on account of floods in Bihar during the rainy season which is likely to hamper the yield/crushing, compared to previous year. The government has announced but not yet notified upward revision in sugar MSP, this will be a major positive impact for the industry. In the Union Budget, the Government's stance towards ethanol production remained buoyant which will enable higher diversion of the surplus sugar in the industry, aiding to enhance profitability. With the increased crushing capacity at Hasanpur unit and proposed distillery at Sidwalia the company will be able to optimize all its resources going forward. At Magadh, through our internal efficiencies commend high yield in the State and with favourable market dynamics we believe to deliver fair performance going forward.”
Magadh Sugar and Energy Limited is currently trading at Rs110.80 per piece up by Rs0.80 or 0.74% on the BSE, at around 9:40 AM
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