Stock Report

Magadh Sugar & Energy Limited - Q3 & 9MFY24 Earnings Update

Posted On : 2024-02-13 21:57:31( TIMEZONE : IST )

The Board of Directors of Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) at its meeting held on February 13 , 2024, took on record the unaudited Financial Results for the Quarter and Nine Months ended December 31, 2023.

Financial & Operational Highlights:

Q3FY24

- Total Income in Q3FY24 at Rs.219 Cr as against Rs.210 Cr in Q3FY23.
- EBITDA in Q3FY24 at Rs 62 Cr as against Rs 45 Cr in Q3FY23.
- PAT in Q3FY24 at Rs 39 Cr as against Rs 22 Cr in Q3FY23.

9MFY24

- Total Income in 9MFY24 at Rs. 810 Cr as against Rs. 656 Cr in 9MFY23.
- EBITDA in 9MFY24 at Rs 134 Cr as against Rs 64 Cr in 9MFY23.
- PAT in 9MFY24 at Rs 70 Cr as against Rs 15 Cr. in 9MFY23.

Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said: "In light of recent government notifications, including the rise in sugarcane prices in Bihar and adjustments to ethanol procurement targets, challenges have arisen. However, our steadfast dedication to sustainable growth and our integrated approach continue to steer us on the path forward. Amidst these complexities, we stand firm in leveraging synergies and fostering long-term value for our stakeholders. Together, turning challenges into opportunities and fortifying our position as industry leaders.

At Magadh, our pursuit of excellence extends beyond sugar, with increased ethanol capacity driving net worth, profitable growth, and energy efficiency. Strategic investments form a strong foundation, positioning us to seize opportunities in the sugar and ethanol sectors. Looking ahead, we plan further capital investment at our Narkatiagunj unit for increased crushing capacity, ethanol debottlenecking, and enhanced energy efficiency."

Shares of Magadh Sugar & Energy Limited was last trading in BSE at Rs. 651.25 as compared to the previous close of Rs. 632.70. The total number of shares traded during the day was 4790 in over 418 trades.

The stock hit an intraday high of Rs. 695.00 and intraday low of 610.30. The net turnover during the day was Rs. 3178484.00.