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Davangere Sugar Company Q4 FY25 results: net profit down 57.4% to ₹1.94 crore, revenue down 10.5%
Davangere Sugar Company Limited reported standalone Q4 FY25 revenue of ₹56.91 crore and a net profit of ₹1.94 crore for the January–March 2025 quarter. Revenue fell 10.5% from Q4 FY24, while EBITDA was ₹9.68 crore and the EBITDA margin was 17.0%.
Key points
- Standalone Q4 FY25 revenue was ₹56.91 crore, down 10.5% from Q4 FY24 and 22.2% from Q3 FY25.
- EBITDA was ₹9.68 crore, with an EBITDA margin of 17.0%, compared with ₹10.66 crore and 16.8% in Q4 FY24.
- Q4 FY25 profit before tax was ₹2.25 crore, down 51.1% from Q4 FY24, while net profit was ₹1.94 crore, down 57.4%.
- Basic EPS was ₹0.22 in Q4 FY25, compared with ₹0.48 in Q4 FY24 and ₹0.72 in Q3 FY25.
- For FY25, revenue was ₹214.99 crore, total income was ₹216.76 crore, profit before tax was ₹12.86 crore and net profit was ₹10.94 crore.
How did Davangere Sugar Company perform in Q4 FY25?
Davangere Sugar Company reported standalone revenue of ₹56.91 crore in Q4 FY25, against ₹63.57 crore in Q4 FY24 and ₹73.18 crore in Q3 FY25. EBITDA was ₹9.68 crore, compared with ₹10.66 crore and ₹18.22 crore respectively, while the EBITDA margin was 17.0% versus 16.8% and 24.9%.
Profit before tax was ₹2.25 crore in Q4 FY25, down from ₹4.60 crore in Q4 FY24 and ₹7.46 crore in Q3 FY25. Net profit was ₹1.94 crore, against ₹4.55 crore and ₹6.77 crore, while basic EPS was ₹0.22 versus ₹0.48 and ₹0.72. The company reported no exceptional item.
The results are standalone. The board approved the audited quarter and full-year results for the period ended 31 March 2025 on 14 May 2025. The statutory auditors issued an unmodified opinion on the standalone results for FY25.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 56.91 | 73.18 | 63.57 | −10.5% | −22.2% |
| Other income | 0.57 | 0.41 | 1.87 | −69.5% | +39.0% |
| Total expenses | 55.23 | 66.12 | 60.85 | −9.2% | −16.5% |
| EBITDA | 9.68 | 18.22 | 10.66 | −9.2% | −46.9% |
| EBITDA margin | 17.0% | 24.9% | 16.8% | +0.2 pp | −7.9 pp |
| Profit before tax | 2.25 | 7.46 | 4.60 | −51.1% | −69.8% |
| Tax | 0.30 | 0.69 | 0.04 | +650.0% | −56.5% |
| Net profit | 1.94 | 6.77 | 4.55 | −57.4% | −71.3% |
| EPS (₹) | 0.22 | 0.72 | 0.48 | −54.2% | −69.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Davangere Sugar Company's costs and profit?
Cost of materials was ₹42.56 crore in Q4 FY25, up ₹32.80 crore from ₹9.76 crore in Q4 FY24, while other expenses rose ₹5.23 crore to ₹11.29 crore from ₹6.06 crore. Finance costs fell ₹0.34 crore to ₹4.32 crore, employee costs fell ₹0.37 crore to ₹1.29 crore, and depreciation rose ₹0.40 crore to ₹3.68 crore.
Other income fell ₹1.30 crore to ₹0.57 crore from ₹1.87 crore in Q4 FY24. Total expenses were ₹55.23 crore, down ₹5.62 crore from ₹60.85 crore, while tax was ₹0.30 crore, up ₹0.26 crore from ₹0.04 crore. There was no exceptional item. The available figures do not state why the cost changes occurred.
Against Q3 FY25, cost of materials fell ₹10.13 crore to ₹42.56 crore and finance costs fell ₹3.84 crore to ₹4.32 crore, while other expenses rose ₹2.40 crore to ₹11.29 crore and depreciation rose ₹0.68 crore to ₹3.68 crore. Other income rose ₹0.16 crore to ₹0.57 crore and tax fell ₹0.39 crore to ₹0.30 crore.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 42.56 | 9.76 | +32.80 | +336.1% |
| Employee cost | 1.29 | 1.66 | −0.37 | −22.3% |
| Finance costs | 4.32 | 4.66 | −0.34 | −7.3% |
| Depreciation | 3.68 | 3.28 | +0.40 | +12.2% |
| Other expenses | 11.29 | 6.06 | +5.23 | +86.3% |
| Total expenses | 55.23 | 60.85 | −5.62 | −9.2% |
| Other income | 0.57 | 1.87 | −1.30 | −69.5% |
| Tax | 0.30 | 0.04 | +0.26 | +650.0% |
Source: Company's results filing (XBRL).
How did Davangere Sugar Company do in FY25 as a whole?
For FY25, revenue was ₹214.99 crore, down 0.7% from ₹216.53 crore in FY24, while total income was ₹216.76 crore, down 2.8% from ₹222.97 crore. Profit before tax fell 11.0% to ₹12.86 crore from ₹14.45 crore.
Net profit for FY25 was ₹10.94 crore, down 10.6% from ₹12.24 crore in FY24. Basic EPS fell 11.5% to ₹1.15 from ₹1.30.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 214.99 | 216.53 | −0.7% |
| Profit before tax | 12.86 | 14.45 | −11.0% |
| Net profit | 10.94 | 12.24 | −10.6% |
| EPS (₹) | 1.15 | 1.30 | −11.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 31 March 2025, total assets were ₹742.68 crore, compared with ₹721.44 crore at 30 September 2024. Total equity was ₹349.82 crore versus ₹342.20 crore, while borrowings were ₹270.75 crore against ₹281.94 crore. Cash declined to ₹3.38 crore from ₹7.75 crore.
Inventories rose to ₹144.53 crore from ₹105.16 crore, trade receivables fell to ₹28.82 crore from ₹31.67 crore, and trade payables increased to ₹28.15 crore from ₹12.11 crore. For FY25, operating cash flow was negative ₹3.92 crore, compared with negative ₹10.72 crore in FY24; investing cash flow was ₹3.15 crore against negative ₹22.89 crore.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 742.68 | 721.44 |
| Total equity | 349.82 | 342.20 |
| Borrowings | 270.75 | 281.94 |
| Cash and equivalents | 3.38 | 7.75 |
| Inventories | 144.53 | 105.16 |
| Trade receivables | 28.82 | 31.67 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | −3.92 | −10.72 |
| Cash from investing | 3.15 | −22.89 |
| Cash from financing | 0.74 | 32.35 |
| Capital expenditure | −3.09 | 22.38 |
Source: Company's results filing (XBRL).
How has Davangere Sugar Company done over the last 8 quarters?
Revenue rose from ₹26.92 crore in Q2 FY24 to ₹78.31 crore in Q3 FY24, then fell to ₹63.57 crore in Q4 FY24 and ₹56.91 crore in Q4 FY25. Profit followed a similar shape, peaking at ₹6.77 crore in Q3 FY25 before falling to ₹1.94 crore in Q4 FY25.
EBITDA margin reached 42.7% in Q2 FY24 and bottomed at 15.2% in Q1 FY24. After reaching 24.9% in Q3 FY25, it fell to 17.0% in Q4 FY25, indicating a lower quarterly run-off from the prior peak.
Which businesses drove the quarter?
Sugar revenue was ₹12.82 crore in Q4 FY25, down 58.2% from ₹30.64 crore in Q4 FY24. Segment EBIT was ₹2.84 crore against ₹5.01 crore, with an EBIT margin of 22.1%.
Distillery revenue rose 58.7% to ₹41.88 crore from ₹26.38 crore, while EBIT increased to ₹6.49 crore from ₹3.05 crore. Co Generation reported revenue of ₹1.80 crore and an EBIT loss of ₹3.43 crore, while Aviation revenue fell 48.0% to ₹0.41 crore and EBIT was ₹1.09 crore. Others revenue was ₹0.57 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Sugar | 12.82 | −58.2% | 2.84 | 22.1% |
| Sugar | 12.82 | −58.2% | 2.84 | 22.1% |
| Co Generation | 1.80 | −3.43 | -190.4% | |
| Co Generation | 1.80 | −3.43 | -190.4% | |
| Aviation | 0.41 | −48.0% | 1.09 | 267.1% |
| Aviation | 0.41 | −48.0% | 1.09 | 267.1% |
| Distellery | 41.88 | +58.7% | 6.49 | 15.5% |
| Distellery | 41.88 | +58.7% | 6.49 | 15.5% |
| Others | 0.57 | −69.7% | 0 | 0.0% |
| Others | 0.57 | −69.7% | 0 | 0.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the audited financial results for the quarter and year ended 31 March 2025, together with the auditors’ report, on 14 May 2025. The chief financial officer declared that the statutory auditors had issued an unmodified opinion on the standalone FY25 results.
The same filing recorded the resignation of Mrs Nidhi Hitesh Vaswani as Company Secretary and Compliance Officer, effective from the close of business hours on 20 May 2025, for personal reasons. No dividend or fund-raising decision was stated in the same-day filing.
How did Davangere Sugar Company shares react?
The filing appeared after market hours. The stock fell 1.8% within five minutes, 1.0% within 15 minutes and 1.5% within 30 minutes. It closed 2.7% lower on the reaction day from the previous close, while the Other Agricultural Products sector rose 1.0%, a 3.7 percentage-point gap.
By the next day's close, the stock was unchanged from its pre-results close, compared with a 2.5% increase in the sector. By the fifth session's close, it was 1.7% lower from the pre-results close, while the sector was 2.1% higher. Earlier reaction-day moves were 8.5% on 18 January 2025, negative 1.8% on 9 November 2024, negative 3.8% on 15 July 2024 and negative 2.4% on 24 May 2024.
| After the filing | Stock | Other Agricultural Products median |
|---|---|---|
| 5 minutes | −1.8% | |
| 15 minutes | −1.0% | |
| 30 minutes | −1.5% | |
| Reaction day | −2.7% | +1.0% |
| Next day | +0.0% | +2.5% |
| 5 days | −1.7% | +2.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 18 January 2025 | +8.5% |
| 9 November 2024 | −1.8% |
| 15 July 2024 | −3.8% |
| 24 May 2024 | −2.4% |
Source: MarketPing price-reaction measurement.
How did other Other Agricultural Products companies do?
Among 46 Other Agricultural Products companies compared, the median revenue growth was negative 1.9%. Fifteen peers grew slower than Davangere Sugar Company and 31 grew faster; the company’s own revenue growth was negative 10.5%.
Of 47 peers for which profit was compared, 25 reported higher profit. The peer figures were available as of 6 November 2026.
| Davangere Sugar Company revenue growth (YoY) | −10.5% |
|---|---|
| Median of 46 other Other Agricultural Products companies | −1.9% |
| Companies with slower revenue growth than Davangere Sugar Company | 15 of 46 |
| Companies with faster revenue growth than Davangere Sugar Company | 31 of 46 |
| Companies whose net profit rose | 25 of 47 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Davangere Sugar Company's revenue in Q4 FY25?
Revenue from operations was ₹56.91 crore, down 10.5% from ₹63.57 crore in Q4 FY24 (standalone).
Did Davangere Sugar Company make a profit in Q4 FY25?
Yes. Net profit was ₹1.94 crore, against a net profit of ₹4.55 crore in Q4 FY24.
What was Davangere Sugar Company's EPS in Q4 FY25?
Basic earnings per share were ₹0.22, against ₹0.48 in Q4 FY24.
How did Davangere Sugar Company shares react to the Q4 FY25 results?
On the reaction day the stock moved −2.7% from the previous close; the median Other Agricultural Products stock moved +1.0%.
When did Davangere Sugar Company announce its Q4 FY25 results?
On 14 May 2025, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Standalone Audited Financial Results For The Quarter And Year Ended On 31St March, 2025. (BSE, 24 April 2025) · PDF
- Update on board meeting (BSE, 28 April 2025) · PDF
- Outcome of Board Meeting (NSE, 14 May 2025) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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