Dwarikesh Sugar Industries Limited has informed the Exchange about Investor Presentation
DWARKESH · price
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Dwarikesh Sugar Industries reported FY26 total income of ₹14,090.9 million, up 3% from FY25. Despite challenging conditions including lower cane availability (crushing down 8% YoY) and higher sugarcane prices (SAP increased ₹30/quintal), PAT surged 32% YoY to ₹308.4 million for FY26 and 24% in Q4 to ₹574.1 million. The PAT improvement was primarily driven by a lower effective tax rate under the new tax regime. Sugar production actually rose 13% YoY to 23.73 lakh quintals due to lower juice/syrup diversion to ethanol. However, ethanol off-take declined significantly (~29% in Q4 and ~8% for FY26), impacting distillery revenues. Power revenue improved due to retrospective tariff revision by UPPCL.
Positive PAT growth despite operational headwinds signals cost efficiency gains and tax benefits. However, margin pressures from higher cane costs and weak ethanol demand remain concerns. The stock may see mixed reaction as EBITDA margins contracted while bottom-line improved due to tax savings.