Dwarikesh Sugar Industries Limited has informed the Exchange regarding a press release dated May 14, 2026, titled "Press Release on Financial Results for the Quarter and Year Ended March 31, 2026 and Company Outlook.".
DWARKESH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Dwarikesh Sugar Industries reported FY26 total income of ₹1,409.09 crore, up 3.2% from ₹1,365.32 crore in FY25. However, EBITDA declined sharply to ₹94.03 crore from ₹119.91 crore in the prior year, indicating significant margin compression. PAT grew 32% to ₹30.84 crore (vs ₹23.34 crore) mainly due to a lower effective tax rate from the new tax regime, which offset underlying operational weakness. The company faced headwinds from a ₹30 per quintal increase in State Advised Price (SAP) for sugarcane, lower cane availability due to excessive rainfall and crop diversification, and an 8% decline in ethanol sales volume to OMCs. Sugar volumes improved marginally to 24.21 lakh quintals with better realization at ₹3,980 per quintal. The company has ₹92.80 crore in long-term debt for a distillery project and maintains ICRA AA- long-term rating.
While PAT growth of 32% appears positive, the underlying business showed operational stress with EBITDA declining 22% and PBT falling 19%. The stock may face pressure from margin compression unless sugar prices improve significantly or cane availability normalizes in the 2026-27 season. The company's focus on farmer engagement and varietal replacement aims to address the cane supply issues.