Avadh Sugar & Energy Ltd. · NSE:AVADHSUGAR

Avadh Sugar & Energy — Q4 FY24 Earnings Presentation

22 slides from Avadh Sugar & Energy's earnings presentation, May 13, 2024

  1. Slide 1: Exchange filing cover letter for investor presentation

    MMA AVADE suGaRaeENE Y LTD May 13, 2024 AVADH/SE/2024-25/13 The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Ltd. ‘Exchange Plaza’ 1st Floor, New Trading Ring C-1, Block G Rotunda Building Bandra-Kurla Complex P.J. Towers Bandra (E) Dalal Str

  2. Slide 2: Result Presentation Q4 & FY24

    Sugar | Co-Generation | Ethanol Result Presentation | Q4 & FY24 Reimagining Our Company Credit Rating upgraded to “A+” in January 2024

  3. Slide 3: Continued Focus on Company Transformation

    Continued Focus on Company Transformation 1 2 From the core business of From a Cash-intensive business Sugar to Bio-fuels. to superior business Liquidity. Key Transformation 4 3 From One-off profitability to From Debt-driven expansion to stable business Sustainability. Accruals-driven Growth 2

  4. Slide 4: Company Overview

    Company Overview  Incorporated in 1932 (Group in Sugar Business over 9 decades), pursuant to the scheme of merger and demerger this company formed Strategic Location - Presence in Cane Rich U.P. scattered geographically in 2015  Manufacturing Sugar, Ethanol and Power 1. Seohara (West UP) Operation

  5. Slide 5: Consistently Improving Financial Performance

    Consistently Improving Financial Performance Total Income (Rs Cr) EBITDA & EBITDA Margin (Rs Cr) PAT (Rs Cr) 124 128 12% 2,807 11% 2,717 2,748 2,697 10% 100 9% 334 307 78 266 264 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Total Borrowing & Debt/Equity (x) Sugar Inventory in Value (R

  6. Slide 6: Q4 & FY24 Highlights

    BAVADH @ 04 & FY24 Highlights

  7. Slide 7: Operational Performance - Sugar (1/2)

    Operational Performance - Sugar (1/2) Particulars Unit Q4FY24 Q4FY23 YoY (%) FY24 FY23 YoY (%) Sugarcane Crushing Lac Qtls 299.51 * 315.44 -5% 618.92 569.07 9% Sugar Production Lac Qtls 33.37 30.73 9% 64.00 53.22 20% Sugar Sales – Domestic Lac Qtls 11.08 9.42 18% 50.93 44.60 14% Sugar Sales – Export

  8. Slide 8: Operational Performance - Distillery & Co Gen (2/2)

    Operational Performance - Distillery & Co Gen (2/2) Particulars Unit Q4FY24 Q4FY23 YoY (%) FY24 FY23 YoY (%) Production Lac Litres 230.52 276.88 -17% 990.75 929.79 7% Distillery Sales Lac Litres 183.50 246.70 -26% 950.71 900.64 6% Avg. Real. Rs/ Litres 59.44 64.32 -9% 61.58 62.16 1% Closing Stock La

  9. Slide 9: Segment Performance – Q4 & FY24

    Segment Performance – Q4 & FY24 Revenue PBIT PBIT Margins Segments (Rs Cr) Q4FY24 Q4FY23 YoY (%) Q4FY24 Q4FY23 YoY (%) Q4FY24 Q4FY23 Sugar 621 893 -30% 72 96 -25% 12% 11% Distillery 117 159 -26% 28 33 -15% 24% 21% Co generation 83 97 -14% 13 5 160% 16% 5% Others 7 9 - - - - - - Total 828 1158 -28% 1

  10. Slide 10: Revenue Drivers – Q4 & FY24

    Revenue Drivers – Q4 & FY24 Sugar (Rs Cr) Distillery (Rs Cr) Power (Rs Cr) 893 97 159 621 117 83 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Lower Revenue largely due to lower volume of sugar sale by 33% and on account of NIL Lower Volume of Ethanol Sale by 26% Lower value of steam due to lower bagass

  11. Slide 11: PBIT Drivers – Q4 & FY24

    PBIT Drivers – Q4 & FY24 Sugar (Rs Cr) Distillery (Rs Cr) Power (Rs Cr) 96 33 72 13 28 5 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Lower Volume of Ethanol Sale Lower Volume of Sugar sale by 33% and Lower Bagasse Rate Higher Molasse Transfer Rate Higher Realisation of Sugar 160 10 123 122 113 FY23 FY

  12. Slide 12: Financial Snapshot

    Financial Snapshot Total Revenue (Rs Cr) EBITDA (Rs Cr) PAT (Rs Cr) 142 848 79 621 55 122 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 2,807 128 2,697 334 100 264 FY23 FY24 FY23 FY24 FY23 FY24 Increase in Profitability is due to Higher Realisation across Sugar and Ethanol despite increase in cane price

  13. Slide 13: Business Updates

    Business Updates Details of Outstanding position :- Particulars Rs. Cr 31/03/2024 31/03/2023 Term Loan 372 437 Cash Credit / Short Term Loan / ICD* 943 630 Total Debt 1315 1067 * Due to higher inventory by 52% and increase in cane prices. • Long Term Credit Rating upgraded from “A/Stable ” to “A+/St

  14. Slide 14: Profit & Loss Highlights

    Profit & Loss Highlights Particulars (Rs Cr) Q4FY24 Q4FY23 FY24 FY23 Total Income 621 848 2697 2,807 Raw Material Cost 380 603 1995 2,196 Employee Cost 36 32 117 120 Other Expenditure 83 71 251 227 EBIDTA 122 142 334 264 Depreciation 15 13 56 51 PBIT 107 129 278 213 Interest 23 18 82 69 Profit Befor

  15. Slide 15: Balance Sheet

    Balance Sheet Liabilities (Rs Cr) FY24 FY23 Assets (Rs Cr) FY24 F23 Shareholder’s Funds 1028 891 Non-current assets 1293 1241 Share capital 20 20 Fixed assets 1187 1165 Other Equity 1008 871 Capital W.I.P 10 13 Non-current liabilities 341 350 Borrowings 262 308 Financial Assets 82 49 Deferred tax li

  16. Slide 16: Industry Updates

    BAVADH © Industry Updates

  17. Slide 17: Global Sugar Industry – Update

    Global Sugar Industry – Update World Sugar Balance Global Sugar Price (USD/Kg) 0.60 Global Sugar Balance Sheet SS 2022-23 SS 2023-24 (E) 0.55 (Million MT) 0.50 0.45 Production 178.1 179.7 0.40 0.35 Consumption 177.8 180.4 0.30 0.25 Export Availability 66.6 67.0 0.20 Dec-20 Dec-21 Dec-22 Dec-23 Feb-2

  18. Slide 18: Indian Sugar Industry – SS 2023-24

    Indian Sugar Industry – SS 2023-24 Domestic Sugar Balance Sheet State-wise Sugar Production as on 31st March Particulars (Lakh Tonnes) 2022-23 2023-24 (P) 7.8 Opening Stock 70 56 All India 49.5 107.32 Total Gross Sugar Production 366 340 302.02 Diversion for Ethanol 38 20 97.2 Net Production 328 320

  19. Slide 19: Latest Developments in the Sugar Industry

    Latest Developments in the Sugar Industry • FRP of Sugar Cane for Sugar Season 23-24 raised at Rs. 315 / Qtl for a base recovery of Rs. 10.25% (C.Y.) Rs. 305 / Qtl for 10.25% • The Government of Uttar Pradesh revised the State Advised Price (SAP) of sugarcane for SS 23-24 Particulars (per quintal) S

  20. Slide 20: Indian Ethanol Play Continues to Remain Strong

    Indian Ethanol Play Continues to Remain Strong Allocation of Ethanol by OMC till cycle 2 Quantity Supplied (Ethanol) and % Blending Trends Feedstocks (Cr ltrs) Total Government aims 15% in 2023-24 and 20% in 2024-25 20.0% India achieves 11.6% ethanol blend with petrol in first Sugarcane Juice/ Syrup

  21. Slide 21: Disclaimer

    Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Avadh Sugar & Energy Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s

  22. Slide 22: Contact Us

    Contact Us Mr. Dilip Patodia / Mr. Sudershan Bajaj Ms. Pooja Sharma / Ms. Amritha Poojari dilip.patodia@birla-sugar.com / sudershan.bajaj@birla-sugar.com pooja.sharma@stellar-ir.com / amritha@stellar-ir.com 9/1,R.N. Mukherjee Road, Kolkata A-405, Kanakia Wallstreet, Andheri (East), Mumbai

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