E.I.D. Parry (India) Limited, one of the largest manufacturers of Sugar in India, has reported financial results for the quarter and half year ended 30th September 2024.
Consolidated performance for the quarter and half year ended 30th September 2024:
The consolidated revenue from operations for the quarter ended 30th September 2024, was Rs. 9,330 Crore registering an increase of 3% in comparison to the corresponding quarter of the previous year of Rs. 9,059 Crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter ended 30th September 2024 was Rs. 1,028 Crore registering a decrease of 14% in comparison to the corresponding quarter of the previous year of Rs. 1,204 Crore. The Consolidated profit after tax and non-controlling interest was Rs. 305 Crore as compared to Rs. 452 Crore in the corresponding quarter
of the previous year.
The consolidated revenue from operations for the half year ended 30th September 2024 was Rs. 16,077 Crore as against Rs. 16,086 Crore in the corresponding period of the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the half year ended 30th September 2024 was Rs. 1,556 Crore as against Rs. 1,856 Crore in the corresponding period of the previous year. Consolidated profit after tax and non-controlling interest was Rs. 397 Crore as compared to Rs. 561 Crore in the corresponding period of the previous year.
Standalone performance for the quarter and half year ended 30th September 2024:
The Standalone revenue from operations for the quarter ended 30th September 2024 was Rs. 755 Crore in comparison to the corresponding quarter of previous year of Rs. 726 Crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter ended 30th September 2024 was Rs. 75 Crore in comparison to the corresponding quarter of the previous year of Rs. 131 Crore. The Standalone profit after tax for the quarter was Rs. 28 Crore as compared to Rs. 86 Crore in the corresponding quarter of the previous year.
The Standalone revenue from operations for the half year ended 30th September 2024 was Rs. 1,506 Crore as against Rs. 1,424 Crore in the corresponding period of previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the half year ended 30th September 2024 was Rs. 46 Crore against Rs. 116 Crore in the corresponding period of the previous year. Standalone Loss after tax for the half year was Rs. 50 Crore as compared to a Profit of Rs. 40 Crore in the corresponding period of the previous year.
Sugar Division
The Consolidated Sugar operations including refinery business reported a Loss before Interest and Tax of Rs. 38 Crore (corresponding quarter of previous year: profit of Rs. 24 Crore) for the quarter.
Farm Inputs Division
The Consolidated Farm Inputs operations reported a Profit before Interest and Tax of Rs. 959 Crore (corresponding quarter of previous year: profit of Rs. 1,078 Crore) for the quarter.
Nutraceuticals Division
The Consolidated Nutraceuticals Division registered a Loss before Interest and Tax of Rs. 5 Crore (corresponding quarter of previous year: profit of Rs. 24 Crore) for the quarter.
Consumer Products Group (CPG):
The Consolidated CPG Division registered a Loss before Interest and Tax of Rs. 17 Crore (corresponding quarter of previous year: Loss of Rs. 11 Crore) for the quarter.
Mr. Muthiah Murugappan, Whole-time Director and Chief Executive Officer commented on the standalone results :
Sugar:
The standalone profit of sugar segment was lower in Q2 2024-25 as compared to the corresponding quarter of previous year on account of lower cane volume (5.61 LMT Q2 Sep 24 Vs 8.54 LMT in Q2 Sep 23), a drop in recovery from cane, higher input cost in distillery segment and lower sale volume in sugar on account of lower release quota.
Consumer Products Group (CPG):
The Consumer Products Group (CPG) achieved a turnover of Rs 236 Crore for the current quarter registering growth of 76% over the corresponding quarter of the previous year, on the back of the launch of its Branded Staples range of products. The Branded Sweetener range also delivered a steady performance and grew by 21% over the corresponding quarter of the previous year.
Distillery:
The revenue of the distillery segment for the current quarter is Rs.281 Crore as against Rs. 190 Crore in corresponding quarter of the previous year registering a growth of 48% as the 120 KLPD of Haliyal and 45 KLPD of Nellikuppam were fully operational during the quarter.
Nutraceuticals:
The revenue of the Nutraceuticals segment has decreased by 18% in the current quarter compared to the corresponding quarter of the previous year.
