On a consolidated basis, Dalmia Bharat Sugar and Industries' net profit fell 16.28% to Rs 51.86 crore on 11.26% decline in net sales to Rs 488.80 crore in Q4 March 2021 over Q4 March 2020.
During the quarter, the profit was lower due to higher tax provision and revenue was impacted due to late announcement of export policy for the current sugar season. Majority of export contracts for Secretarial Standards (SS) 2021 will get executed during the next financial year.
Profit before tax gained 7.89% to Rs 77.47 crore in Q4 FY21 as against Rs 71.80 crore in Q4 FY20. EBITDA jumped 24% to Rs 139 crore in Q4 March 2021 as against Rs 113 crore in Q4 March 2020.
The company has repaid long term loans amounting to Rs 245 crore, resulting in long term debt reduction to Rs 276 crore from Rs 521 crore. Post this, the long term consolidated debt-equity ratio stands at 0.08x as on 31 March 2021.
In its outlook, the sugar producer said: "In SS'20 sugar inventory is lower at 10.7 million metric tonnes as against 14.5 million metric tonnes for SS'19 mainly due to exports and to further go down in ensuing SS to 9.2 million metric tonnes mainly on account of higher diversion of sugar to ethanol and exports. Sugar industry is well poised to benefit both from global and domestic factors. Tight global demand supply situation, favourable government policies and push for higher ethanol blending in India will keep the inventory under control. In light of the above the short to medium term outlook of the industry remains promising."
Meanwhile, the board proposed a final dividend of Rs 3 per share for the FY 2020-21.
Dalmia Bharat Sugar and Industries is one of the leading producers of sugar in Uttar Pradesh. It has three integrated plants with a total cane crushing capacity of 35500 TCD (Tonnes Crushed per Day) and sugar production capacity of 700,000 MTs per annum. It has 120 MW of co-generation capacity and a distillery of 255 KLPD along with incineration boilers. It also has facilities for processing of raw sugar.
Shares of Dalmia Bharat Sugar and Industries lost 0.24% to Rs 327.85 on BSE. The stock hovered in the range of Rs 321.70 to Rs 337.50 so far.
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