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HomePosts Tagged "Wilmar Sugar Holdings Pte Ltd"
Agribusiness, Company News, Finance, India, Sugar industry

The operating performance continues to be driven by higher Revenues and EBITDA due to improved realizations across all segments.

Shree Renuka Sugars Limited – one of India’s largest sugars and Green Energy (ethanol and renewable power) producer and a subsidiary of Wilmar Sugar Holdings Pte Ltd, Singapore – has reported its financial performance for the quarter and nine months ended December 31, 2023.

 Highlights for 9MFY24:

  • Total income for 9MFY24 up by 16 per cent over the previous year from Rs 65,993 to INR 76,763 million.
  • The EBITDA for 9MFY24 stood at Rs 4,785 Mn, an increase by 10 per cent over last year of Rs 4,368 million.
  • Domestic sugar sales volume was up by 3 per cent at 247K MT.
  • Refinery exported 1,026K MT vs 1,062 MT in LY.

 Sales realisation rose to Rs 56K/MT vs 43K/MT LY in view of the firm international values.  Distillery produced during 9MFY24, 11.73 Crores litres Vs 12.16 Crores litres LY due to regulatory ban on ethanol production from cane juice and limiting production from BH molasses.

Atul Chaturvedi, Executive Chairman, said, “The third quarter’s results reflect our steadfast growth in our operations despite the regulatory headwinds of restricted production of Cane Juice & ‘B’ Heavy Ethanol. The global economy continues to face multiple macroeconomic and geopolitical shocks. In spite, of all these challenges, Renuka is successfully progressing ahead. Our total income for 9MFY24 has increased by 18 per cent over the previous year. The company posted a strong 9MFY24 performance driven by improved realizations across all segments.”

Sunil Ranka, Chief Financial Officer said, “Renuka Consol has delivered a stable financial performance in the third quarter with an 9MFY24 EBITDA growth of 13 per cent. Refinery revenues and margins were better as compared to the previous year, which has enabled the EBITDA levels to move upwards to Rs 4,743 Mn from Rs 4,213 million in the previous year. Cane production is likely to be lower in Karnataka and Maharashtra States. Our Anamika acquisition in U.P. (North India) has vindicated the strategy of de-risking geographically and the said unit has performed well as compared over last year which is included in the above results.”

The operating performance continues to be driven

Company News, Finance, India, Sugar industry

Total income up by 18 per cent over the previous year from Rs 19,401 million to Rs 22,865 million Refinery contributed 70 per cent of the topline.

Shree Renuka Sugars Limited – one of India’s largest sugars and green energy (ethanol and renewable power) producers and a subsidiary of Wilmar Sugar Holdings Pte Ltd, Singapore has reported its financial performance for the quarter ended June 30, 2023.

Highlights of the results for Q1-FY24 are summarized below –

  • Total income up by 18 per cent over the previous year from Rs 19,401 million to Rs 22,865 million. Refinery contributed 70 per cent of the topline.
  • Gross profit has improved from Rs 3,048 million to 3,562 million up by 17 per cent.
  • EBITDA has improved from Rs 1,102 Mn to 1,468 million up by 33 per cent. EBITDA margin improved by 74 bps.
  • Volume growth was led by 1) Domestic sugar sales (up by 33 per cent) of which Consumer pack sales (grew by 9 per cent) and 2) Refinery (2 per cent).
  • Distillery had a record production of 4.67 crore litres despite being off season due to availability of stored molasses, compared to 4.62 crore litres produced in the previous year.

Atul Chaturvedi, Executive Chairman said, “This quarter’s results must be seen in the light of inflationary headwinds, high interest rates, weakening currency and disruption caused at our Kandla refinery by cyclone Biparjoy. We have commenced the first quarter on a positive note and achieved healthy growth. Our total income for the quarter has increased by 18 per cent over the previous year. Revenues have grown significantly across all segments with upside in our refinery and sugar business. The delay in the onset of monsoon in the country was offset due to the torrential rains in the sugarcane belts of Maharashtra and Karnataka in June and we anticipate adequate sugarcane availability in the upcoming season. With the further thrust on ESG initiatives, our organic manure “BHU SANJIVANI” was launched at our Munoli unit (Karnataka) recently which is expected to improve soil health and increasing farmer’s income by increasing quantity and quality of their crop yield.

 Sunil Ranka, Chief Financial Officer said, “Shree Renuka Sugars has delivered one of the best performances in the first quarter with a gross profit growth of about 17 per cent and EBITDA growth of 33 per cent. The current results demonstrate our unwavering commitment to operational excellence and providing superior results to our stakeholders.

High volumes and margins propped EBITDA up to Rs 1,468 Mn from EBITDA of Rs 1,102 million in the previous year. Even after increase in the FRP (fair and remunerative price), which is likely to lead to some cost escalation, the same should not pose a problem as the macro environment is supportive and the industry expects further upward improvement in the ethanol purchase price. Good monsoon, strong sugarcane planting and government policies will continue to keep Renuka on the accelerated growth path.”

Total income up by 18 per cent

Agrotech, Company News, Finance, Sugar industry

Total Income higher by 141%, driven by volume and price growth, with refinery and distillery segments being the major contributors.

Shree Renuka Sugars Limited – one of India’s largest sugar and green energy (ethanol and renewable power) producers and a subsidiary of Wilmar Sugar Holdings Pte Ltd, Singapore – has reported its financial performance for the quarter ended June 30, 2022.

Highlights of the results for the quarter are summarized below.

Total income up by 141 per cent over the previous year from Rs 8,067 Mn to Rs 19,401 million.

 The company posted strong Q1 performance driven by double digit volume growth and higher margins across all its business segments compared to a year ago.

Growth was led by 1) Refinery (175 per cent) & Distillery (89 per cent), 2) Consumer pack sales grew by 4%. Realization remained robust and improved by 5 per cent.

Distillery had a record production of 4.62 crore litres despite being off season due to availability of stored molasses, compared to 1.84 crore litres produced in the previous year.

Atul Chaturvedi, Executive Chairman said, “This quarter’s results must be seen in the light of soaring global inflation, high interest rates, high crude prices and weakening currency. Commodity markets remain very volatile, compelling Government to resort to export restrictions. Our total income for the quarter has increased by 141 per cent over the previous year. Revenues have grown significantly across all segments with better sales realization.

With the onset of good monsoon in the country, we anticipate better sugarcane availability in the upcoming season (October-September) also. Besides improving the balance sheet and cash flows of sugar mills, higher ethanol sales has ensured timely payment of cane dues to farmers and balance out sugar inventories. We remain very optimistic in the financial performance and overall growth of our Company.”

 Sunil Ranka, Chief Financial Officer said, “Shree Renuka Sugars has delivered a strong financial performance in the first quarter with a gross profit growth of about 311 per cent and EBITDA growth of 359 per cent. High volumes and margins propped up EBITDA up to Rs 1,102 Mn from negative Rs 425 Mn in the previous year.

Ethanol blending program has been a game changer for the sugar sector and this has de-risked the seasonal and cyclical nature of business. Good monsoon, strong sugarcane planting and government policies will keep Renuka on the growth path.”

Total Income higher by 141%, driven by