Please find attached herewith Chairman Speech as delivered at the 90th Annual General Meeting of the Company held on 22.08.2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kesar Enterprises reported a sharp deterioration in FY25, swinging from a profit of Rs 83.6 crore to a loss of Rs 72.6 crore, with revenue falling to Rs 334 crore from Rs 531 crore. The Sugar Division crushed 37% less cane (59.46 lakh quintals vs 94.24 lakh quintals) due to lower yields from excess rainfall and cane diversion; sugar recovery dropped to 10.81%. The Distillery remained shut the entire year as molasses prices were high while ethanol/RS/SDS realisations were too low to justify operations, and management plans to keep it shut at least through September–October 2025. The Power Division's revenue from UPPCL fell to Rs 17 crore from Rs 26.5 crore, with the company fighting a court case against reduced power tariffs. EBITDA swung from positive Rs 115.7 crore to negative Rs 38.9 crore. Management cited UP's cane pricing policy as making the industry 'unviable, cash-starved and uncompetitive'.
Negative for shareholders — the company reported a full-year loss, negative EBITDA, and management's outlook indicates continued stress with distillery operations uneconomic and no near-term margin recovery signalled; next sugar season is expected to face low opening stocks and further cane availability concerns.