Kolkata: Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) has announced its unaudited Financial Results for the Quarter and Year ended March 31, 2024. The Board of Directors, in its meeting held on May 14, 2024, reviewed and approved these results, showcasing a resilient performance amidst challenging market conditions.
Financial & Operational Highlights:
Q4FY24
- Total Income: Rs 288 Cr, compared to Rs 299 Cr in Q4FY23.
- EBITDA: Rs 81 Cr, compared to Rs 69 Cr in Q4FY23.
- PAT: Rs 47 Cr, compared to Rs 35 Cr in Q4FY23.
FY24
- Total Income: Rs 1098 Cr, compared to Rs 955 Cr in FY23.
- EBITDA: Rs 214 Cr, compared to Rs 133 Cr in FY23.
- PAT: Rs 117 Cr, compared to Rs 50 Cr in FY23.
- Recommended Dividend: Rs 15 per share on Face Value of Rs 10 each, including a special one-time dividend of Rs 5/- per share.
Insights from Leadership:
Mr. C.S. Nopany, Chairperson of Magadh Sugar & Energy Ltd, expressed satisfaction with the company’s performance despite challenges faced by the Indian Sugar Industry. He highlighted the resilience of the sector amidst rising sugarcane prices and evolving ethanol procurement directives. Mr. Nopany emphasized the company’s steadfast dedication to sustainable development and comprehensive strategies.
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Future Outlook:
Looking ahead, Mr. Nopany expressed optimism about the industry’s growth prospects in the forthcoming year. Forecasts indicate an upsurge in production, which is expected to bolster closing stocks and create opportunities for export. Magadh Sugar & Energy Ltd remains committed to its expansion plans, with increased capital outlay for capacity enhancements and facility improvements. The company aims to create value for all stakeholders while ensuring long-term success through excellence, innovation, and dedication.
Magadh Sugar & Energy Ltd’s solid performance in Q4 & FY24 underscores its resilience and strategic vision in navigating challenging market dynamics. With a commitment to sustainability and growth, the company is well-positioned to capitalize on emerging opportunities and deliver value to its stakeholders. As the Indian Sugar Industry continues to evolve, Magadh Sugar & Energy Ltd stands as a beacon of stability and progress in the sector.
