 "Sugar shares in focus; Oudh Sugar, Thiru Arooran Sugars up 5%")
Shares of sugar producers were trading higher by 15% on BSE after most of them reported robust earnings for the second quarter ended September 30, 2016.
Dhampure Speciality Sugars, Ponni Sugars (Erode), Rana Sugars, Simbhaoli Sugars, Uttam Sugar Mills, Thiru Arooran Sugars, Sakthi Sugars and Mawana Sugars were among few trading higher between 5% and 15%. At 10:56 am, the S&P BSE Sensex was up 0.18% or 49 points at 27,576.
Total five sugar companies - Dalmia Bharat Sugar and Industries, Dwarikesh Sugar Industries, Oudh Sugar Mills, Upper Ganges Sugar & Industries and Parrys Sugar Industries - have so far declared their Q2FY17 earnings, reported a combined net profit of Rs 124 crore against Rs 7 crore in year ago quarter.
Oudh Sugar Mills was up 5% at Rs 115 on BSE after the company reported a net profit of Rs 18.63 crore in Q2FY17 against loss of Rs 19.15 crore in Q2FY16. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved to 18.62% from 6.28%.
“After five years of surplus sugar production in India coupled with aggressive sugar export strategy, domestic sugar production in sugar season 2015-2016 was marginally lower vis-à-vis domestic consumption and has consequently resulted in an improvement in domestic sugar prices,” Oudh Sugar Mills said in a press release.
During the period under review the Industry also saw a normalcy in sugar prices both domestically and internationally,” it added.
Upper Ganges Sugar & Industries surged 7% to Rs 389 on BSE in intra-day trade. The company posted net profit of Rs 18.39 crore in Q2FY17 against Rs 36 lakh in Q2FY16. EBITDA margin nearly doubled to 20.83% from 10.86%.
Oudh Sugar Mills and Upper Ganges Sugar & Industries are K.K.Birla Group companies.
Dhampure Speciality Sugars, Ponni Sugars (Erode), Rana Sugars, Simbhaoli Sugars, Uttam Sugar Mills, Thiru Arooran Sugars, Sakthi Sugars and Mawana Sugars were among few trading higher between 5% and 15%. At 10:56 am, the S&P BSE Sensex was up 0.18% or 49 points at 27,576.
Total five sugar companies - Dalmia Bharat Sugar and Industries, Dwarikesh Sugar Industries, Oudh Sugar Mills, Upper Ganges Sugar & Industries and Parrys Sugar Industries - have so far declared their Q2FY17 earnings, reported a combined net profit of Rs 124 crore against Rs 7 crore in year ago quarter.
Oudh Sugar Mills was up 5% at Rs 115 on BSE after the company reported a net profit of Rs 18.63 crore in Q2FY17 against loss of Rs 19.15 crore in Q2FY16. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved to 18.62% from 6.28%.
“After five years of surplus sugar production in India coupled with aggressive sugar export strategy, domestic sugar production in sugar season 2015-2016 was marginally lower vis-à-vis domestic consumption and has consequently resulted in an improvement in domestic sugar prices,” Oudh Sugar Mills said in a press release.
During the period under review the Industry also saw a normalcy in sugar prices both domestically and internationally,” it added.
Upper Ganges Sugar & Industries surged 7% to Rs 389 on BSE in intra-day trade. The company posted net profit of Rs 18.39 crore in Q2FY17 against Rs 36 lakh in Q2FY16. EBITDA margin nearly doubled to 20.83% from 10.86%.
Oudh Sugar Mills and Upper Ganges Sugar & Industries are K.K.Birla Group companies.
| COMPANY | LATEST | PREVIOUS CLOSE | GAIN(%) |
| PONNI SUG.ERODE | 252.20 | 219.25 | 15.03 |
| PICCADILY SUGAR | 11.59 | 10.54 | 9.96 |
| RANA SUGARS | 11.40 | 10.37 | 9.93 |
| DHAMPUR.SPL.SUG. | 18.45 | 17.10 | 7.89 |
| EMPEE SUGARS | 8.25 | 7.65 | 7.84 |
| SIMBHAOLI SUGAR | 36.15 | 33.60 | 7.59 |
| GAYATRI SUGARS | 13.31 | 12.38 | 7.51 |
| UTTAM SUG.MILLS | 55.50 | 51.90 | 6.94 |
| MAWANA SUGARS | 50.65 | 47.50 | 6.63 |
| THIRU AROOR. SU. | 67.00 | 63.15 | 6.10 |
| SAKTHI SUGARS | 37.45 | 35.30 | 6.09 |
| DHARANI SUGARS | 42.20 | 39.90 | 5.76 |
| OUDH SUGAR MILLS | 115.25 | 109.65 | 5.11 |
| KM SUGAR MILLS | 27.64 | 26.33 | 4.98 |
| SIR SHADI LAL | 67.65 | 64.45 | 4.97 |
| SBEC SUGAR | 17.14 | 16.33 | 4.96 |
| PARRYS SUGAR | 41.45 | 39.50 | 4.94 |
| UGAR SUGAR WORKS | 41.55 | 39.60 | 4.92 |
| INDIAN SUCROSE | 24.60 | 23.45 | 4.90 |
| RAJSHREE SUGARS | 64.25 | 62.05 | 3.55 |
