NSE: AVADHSUGAR · BSE: 540649
AVADH SUG & ENERGY LTD
Manufactures sugar from sugarcane as its main business, with two integrated by-product lines. In FY26, the sugar segment generated Rs 2,571.51 crore of revenue (76.9% of segment revenue) and Rs 101.84 crore of EBIT, while the distillery segment produced Rs 529.62 crore of revenue (15.8%) and Rs 42.00 crore of EBIT, and co-generation added Rs 226.74 crore (6.8%) and Rs 34.47 crore of EBIT. The distillery business converts molasses into ethanol, and the co-generation unit burns bagasse (a sugar milling by-product) to generate power, indicating the plant operates as an integrated sugar-and-ethanol complex with captive power. The economics are cyclical and seasonal: quarterly filings show the sugar and co-generation segments swinging between profit and loss depending on the crushing-season phase, while distillery earnings vary with ethanol offtake. Total FY26 revenue stood at Rs 2,693.52 crore with a net profit of Rs 57.31 crore and EBITDA margin of 8.32%. The largest cost line is raw materials at 78.5% of revenue, consistent with sugarcane being the dominant input. The board has recommended a Rs 10 per share (100% of face value) dividend for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sugar (77%), Distillery (16%), Co-generation (7%), Others (1%). Cyclical, seasonal, asset-heavy integrated sugar mill with ethanol and captive power.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,744 | 2,798 | 2,694 | 2,636 | 2,694 |
| EBITDA (ex other income) | 303 | 255 | 330 | 276 | 219 |
| margin % | 11.0 | 9.1 | 12.3 | 10.5 | 8.1 |
| Owners' profit | 124 | 100 | 128 | 88 | 57 |
| EPS, as reported (₹) | 62.15 | 50.07 | 64.00 | 43.93 | 28.63 |
| ROE % · ROCE % | 15.4 · 20.6 | 11.2 · 17.2 | 12.5 · 20.3 | 8.0 · 14.7 | 5.1 · 10.3 |
| Debt / equity (x) | 1.50 | 1.20 | 1.28 | 1.24 | 1.25 |
| Cash from operations | 314 | 364 | (77) | 154 | 158 |
| Capex | (55) | (133) | (79) | (107) | (109) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 632 | 617 | 679 | 717 | 668 | 638 | 671 | 779 |
| Profit before tax | 2 | 11 | 110 | (13) | (11) | 27 | 85 | 0 |
| Net profit | 1 | 7 | 72 | (8) | (7) | 17 | 56 | 0 |
| EPS (₹) | 0.41 | 3.37 | 35.81 | (4.20) | (3.30) | 8.35 | 27.78 | 0.12 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| SUGAR | 725 | 21.7 |
| DISTILLERY | 116 | 3.5 |
| CO-GENERATION | 105 | 3.1 |
| OTHERS | 7 | 0.2 |
| Sugar | 1,847 | 55.2 |
| Distillery | 414 | 12.4 |
| Co-generation | 122 | 3.6 |
| Others | 9 | 0.3 |
| Total, before eliminations | 3,344 | 100.0 |
Exhibit 4: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Quarterly certificate from registrar on dematerialisation of securities | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closed Ahead of September Quarter Results | compliance | minimal | — | — |
| 26 Aug 2026 · Newspaper notice on special window for physical share dematerialisation | compliance | minimal | — | — |
| 4 Aug 2026 · Newspaper Advertisement Copies Submitted to Stock Exchanges | compliance | minimal | — | — |
| 3 Aug 2026 · Avadh Sugar Q1FY27: Revenue up 9%, EBITDA up 34%, PAT turns positive | investor communications | medium | — | — |
| 3 Aug 2026 · Avadh Sugar Q1 FY27: Revenue up, PAT swings to small profit | compliance | minimal | — | — |
| 3 Aug 2026 · Q1 FY27 Results: Revenue up 8.7% YoY, marginal profit | results | high | — | — |
| 3 Aug 2026 · Avadh Sugar Q1 FY27: Revenue up 8.7% YoY, PAT marginally positive at Rs 23 lakh | results | high | — | — |
| 28 Jul 2026 · AGM 2026: All 6 Resolutions Passed; Dividend Declared | board shareholder meetings | medium | — | — |
| 28 Jul 2026 · Avadh Sugar 12th AGM: all resolutions passed, 100% dividend declared | board shareholder meetings | medium | — | — |
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|---|---|---|
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.