Dwarikesh Sugar Industries Limited has informed the Exchange about Investor Presentation
DWARKESH · price
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Dwarikesh Sugar Industries shared its Q1 FY26 investor presentation, reporting a total income of ₹4,059.7 million (up ~19% YoY) driven by a 75% jump in industrial alcohol (ethanol) sales volume. Despite revenue growth, the company posted a loss of ₹93.8 million (vs ₹97.3 million loss in Q1 FY25) as crushing operations were nearly halted during the quarter due to red rot disease and adverse weather, which forced early closure of all three plants. Average sugar realization rose 3% to ₹3,962/quintal, while distillery EBITDA margin expanded sharply from 10.2% to 15.5%. Management expressed confidence in regaining momentum by the 2025-26 season, citing phase-out of the vulnerable Co 0238 cane variety, expected ethanol price revisions, and potential export quota announcements. Sector-wise, global sugar is projected to swing to a 3.04 million ton surplus in 2025-26, with domestic prices firming near ₹4,100/quintal.
For shareholders, the quarter shows the ethanol/distillery segment carrying profitability (margin up ~530 bps), while core sugar remains under pressure from the cane crisis. The narrow loss reduction and management's optimistic FY26 outlook—tied to policy catalysts (ethanol price hike, export resumption)—could support sentiment, though near-term earnings remain weak until crushing normalizes.