Avadh Sugar shares trade lower as Q3FY21 records drop in both revenue and earnings

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Commenting on the results, CS Nopany, Co-Chairman of Avadh Sugar & Energy Ltd, said, “The Indian economy is experiencing a rapid recovery according to the recent data, the vaccination campaign has started which will boost market momentum in the future. to come up. However, during the quarter under review, the company’s performance was subdued due to lower sugar prices. Recovery level and UP yield were slightly low due to unfavorable weather conditions. The government’s push on ethanol production will help the industry manage excess sugar production, which will lead to increased cash flow. In addition, announcement of an export quota as well as financial assistance to support the reduction of sugar stocks and help maintain the balance between supply and demand. On the production front, announcements on the revision of the minimum selling price (MSP) and the state advised price (SAP) of sugar cane for the current sugar season are expected. In Avadh, installation of boilers and incineration turbines at Hargaon and Seohara distillery completed on schedule; we expect a higher revenue share from the ethanol segment. We continue to operate at our peak efficiency with the aim of delivering better performance in the future.”

Avadh Sugar is currently trading at Rs 192.60 per coin, down Rs 1.20 or 0.62% on BSE around 9:40 am.

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