Kolkata, West Bengal, November 07, 2022: The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 7th November 2022 took on record the audited Financial Results for the Quarter and Half Year Ended 30th September 2022 (Quarterly Earnings).
Q2FY23
- Total Income stood at Rs. 594 crore as against Rs.621 crores in Q2 FY 22
- Domestic Average Sugar Realisation was at Rs. 3496 against Rs. 3418 per Qtl in Q2FY22
- Profitability impacted due to increased cost of sugar produced in Sugar Season 2021-22 , owing to increase in sugarcane prices , increase in levy quota of Molasses and revision of wages of workmen with retrospective effects .
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:
“The Sugar Industry, encouraged by the policies of the Government of India, continues its role in being one of the larger employers in the country and simultaneously, providing solutions to the energy sector in India. Ethanol continues to be a focus in the various policy initiatives by the Government and the Industry is well on its way to achieve 20% Ethanol blending by 2025. This has also helped in reducing the cyclicality of the Sugar Industry with robust exports, sustainable Ethanol demand and stable sugar realizations.
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At Avadh, our focus continues to be on improving efficiencies and maximizing return to our shareholders. Our focus continues to be on sugarcane development along with the farmers and at the same time we are strategically positioned to capitalize the opportunity in Ethanol.
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