Kolkata, West Bengal, February 4th , 2022: The Board of Directors of Magadh Sugar & Energy Limited (MSEL) at its meeting held on February 4th 2022, took on record the un-audited Financial Results for the Quarter Ended December31st, 2021.
Key Highlights:
Financial Performance Highlights:
Q3FY22
- Total Income was Rs. 203 crore, as against Rs.222 crore in Q3FY21
- EBITDA at Rs. 43crore as against Rs.41 crore in Q3FY21
- PAT at Rs. 20crore as against Rs.15 crores in Q3FY21
9MFY22
- Total Income was Rs.654 crore, as against Rs.628 crore in 9MFY21
- EBITDA stood at Rs.65 crore as against Rs.64 crore in 9MFY21
- PAT came in at Rs.13crore as against Rs.5 crores in 9MFY21
Commenting on the results, Mr. C. S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“The Indian Sugar Industry has undergone various positive structural changes in the recent past and the momentum is likely to continue. However, the industry in Bihar suffered a serious setback due to exceptional record rainfall during the year severely impacting recovery and yield of sugarcane. Proactive management and cane development activities have helped us to minimize the adverse impact of these events. Magadh Sugar continues to achieve satisfactory recovery compare to other mills in the region, despite the rainfall.
Ethanol remains a strong focus of GOI and India is growing very fast to establish its ethanol infrastructure.AtMagadhSugar,wearein-linewithourcapexandhaveexpandedourethanolcapacitywiththecommissioning of a Greenfield distillery at Sidhwalia. This is expected to improve the high value product mix and enhance profitability. We believe our efficient operations will enable us to continue on our growth trajectory.”
About Magadh Sugar & Energy Limited
The company was incorporated on 19th March 2015 with main object to deal in sugar and sugar products, spiritsand alcohol of denatured of any strength and all other products arising out of the manufacturing process of sugaror resultant of any activity related to sugar business, generation of power through various means. The company ishaving three sugar mills at New Swadeshi Sugar Mills, Narkatiaganj (District West Champaran, Bihar), Bharat SugarMills (District Sidhwalia, Bihar), Hansanpur Sugar Mills, Hasanpur (District Samastipur, Bihar) with a combinedcrushing capacity of 19,000 TCD. The company is also having one distillery at Narkatiganj with a total capacity of150KLPD(BMollases) .The Company is also having Co-gen facility and can generate 38MW power.
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