PONNIE SUGARS (ERODE) LTD

Mills sugarcane into sugar and runs a cogeneration plant that burns bagasse from the crushing process to generate electricity, which it exports to the grid. In FY26, sugar accounted for 72.2% of segment revenue at Rs 365.11 crore while cogeneration made up 27.8% at Rs 140.43 crore, though cogeneration was the more profitable line, contributing Rs 75.63 crore of EBIT against Rs 13.5 crore from sugar. The business crushed 7.06 lakh tonnes of cane in FY26 with a sugar recovery rate of 9.79%, and commissioned a 50 tonne-per-day jaggery unit in January 2026 as a new product line. Sugarcane and related agricultural inputs are the dominant cost, with materials alone at 68.7% of revenue, while employee costs ran at 6.1% and other operating expenses at 20.0% of revenue. FY26 total income reached Rs 414.99 crore with a net profit of Rs 48.03 crore, supported by a Rs 51.64 crore exceptional gain from an APTEL judgment on the long-running electricity tariff dispute for the cogeneration plant covering the 2012-2026 period. In Q1 FY27, revenue from operations rose to Rs 95 crore from Rs 63.7 crore a year earlier; the sugar segment posted a Rs 4.94 crore loss while cogeneration remained profitable at Rs 2.48 crore.