Dwarikesh Sugar Industries Ltd. · NSE:DWARKESH
Dwarikesh Sugar Industries — Q4 FY26 Earnings Presentation
31 slides from Dwarikesh Sugar Industries's earnings presentation, May 14, 2026
Slide 1: Investor Presentation filing letter to exchanges
DWARIKESH SUGAR INDUSTRIES LIMITED Corp. off.; 511, Maker Chambers V, 221, Nariman Point, Mumbai – 400021. Tel.: 2283 2486, 2204 2945, Fax: 2204 7288 E Mail: dsilbom@dwarikesh.com Website: www.dwarikesh.com, CIN: L15421UP1993PLC018642 REF:DSIL/2026-27/043 May 14, 2026 Corporate Relationship Departme
Slide 2: Investor Presentation Q4 & FY26 Results
Investor Presentation Company Performance Date Q4 & FY26 Results 14 May 2026
Slide 3: Safe harbour statement
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dwarikesh Sugar Industries Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 4: Table of contents
• Sector outlook ... 4 Table of • Business overview ... 6 contents • Financial performance ... 11 • Operation trends ... 17 • Pictures of our facilities ... 24
Slide 5: Sector outlook
Global sugar production in 2025–26 is expected to remain strong and is estimated at around 181–190 million tonnes, according to various market assessments. In contrast, the International Sugar Organization (ISO), in its February 2026 outlook, projects a more conservative global production level of
Slide 6: Sector outlook
As sugar production estimates were revised downward during the season, the government restricted quota swapping and kept pending requests on hold. Lower international sugar prices also weakened export activity and slowed deal-making. Government has now announced banning of export till 30th Septemb
Slide 7: Business overview
Business overview A brief run through
Slide 8: At a glance
At a glance • All 3 Plants located in UP-India’s largest sugar producing state. • 2 Plants located in Bijnor District– a District with focused concentration on cane production on highly fertile & well-irrigated land. • Plant at Bareilly – the low-lying Ganges plains district with fertile alluvial so
Slide 9: Operations Overview
Operations Overview Farmers Molasses (nearly 1.54 lakhs) (External Sales) Industrial Alcohol (162.5 KLPD at Cane Development Sugarcane Molasses Distillery Dwarikesh Nagar & & Marketing 175 KLPD at Dwarikesh Dham) Clarification Dwarikesh Sugar Crushing Sugar Sugarcane Juice Evaporation Industries Ltd
Slide 10: Management
G. R. Morarka Vijay S. Banka B. J. Maheshwari • Founder and Promoter • Executive Chairman • Managing Director • Managing Director, • Commerce graduate & • Chartered Accountant Company Secretary ICWA Inter • Associated with the cum Chief Compliance • Received ‘Indira Gandhi company Officer Priyadarsh
Slide 11: Key Milestones
Key Milestones Set up DN Distillery with 30,000 LPD capacity; Debottlenecking of 100 KLPD Commissioned Dwarikesh Puram Commencement of DN Distillery by Distillery capacity DN Crushing capacity (DP) plant with crushing capacity surplus power commissioning expansion project reached 6,500 TCD; of 7,500
Slide 12: Financial performance
Financial performance Q4 & FY25
Slide 13: Performance Highlight
PERFORMANCE HIGHLIGHT In INR million Q4FY26 FY26 Q4FY25 FY25 Total Income 4,267.4 14,090.9 4,590.7 13,653.2 EBIDTA 878.8 940.3 1,072.0 1,199.1 PAT 574.1 308.4 463.3 233.4 In INR Q4FY26 FY26 Q4FY25 FY25 EPS 3.10 1.66 2.50 1.26 Financial performance Investor presentation
Slide 14: Quarterly chart
Quarterly chart Revenue from Operations (Million) EBITDA (Million) PAT (Million) Average Domestic Sugar Realization INR/Quintal EBITDA Margin PAT Margin 3,987.0 23.4% 13.5% 10.1% 3,957.0 20.7% 4,588.5 4,254.3 1,072.0 878.8 463.3 574.1 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 PAT Margin is PAT / Rev
Slide 15: FY26 chart
FY26 chart Revenue from Operations - External (INR Million) PAT(Million) EBITDA (INR Million) PAT Margin EBITDA Margin 2.2% 8.8% 1.7% 6.7% 1,199.1 940.3 308.4 13,588.8 14,019.4 233.4 FY25 FY26 FY25 FY26 PAT Margin is PAT / Revenue from operations EBITDA Margin is EBITDA / Revenue from operations Pre
Slide 16: Financials - Summary
FINANCIALS - SUMMARY In INR million Q4 FY26 FY26 Q4 FY25 FY25 REMARKS INCOME Higher during FY26 on account of higher sugar sales Revenue from operations 4,254.3 14,019.4 4,588.5 13,588.8 volumes and improved realizations. Other income 13.1 71.5 2.2 64.4 -- Total Revenue 4,267.4 14,090.9 4,590.7 13,6
Slide 17: Financials - Summary (continued)
FINANCIALS - SUMMARY (continued) In INR million Q4 FY26 FY26 Q4 FY25 FY25 REMARKS Depreciation and amortization The decrease is attributable to a revision in the estimated useful life of -0.1 367.4 118.9 489.3 assets, in line with Schedule II of the Companies Act, 2013. expense Other expense 222.1 1
Slide 18: Operational trends
Operational trends
Slide 19: Sugar Segment - Quarterly snapshot
Sugar Segment - Quarterly snapshot Sugar Sold ('000 Quintal) Revenue from Operations (INR Million) Average Domestic Sugar Realization INR/Quintal EBITDA (INR Million) 3,987.0 EBITDA Margin 16.2% 3,957.0 16.0% 710.9 636.2 579.1 635.8 4,401.5 3,972.2 Q4FY25 Q4FY26 Q4FY25 Q4FY26 EBITDA Margin is EBITDA
Slide 20: Sugar Segment – FY26 snapshot
Sugar Segment – FY26 snapshot Revenue from Operations (INR Million) Sugar Sold ('000 Quintals) EBITDA (INR Million) EBITDA Margin Average Domestic Sugar Realization(INR/Quintal) 5.5% 3,980.0 3.5% 3,834.0 692.4 12,772.6 450.2 2,350.0 2,421.0 12,592.3 FY25 FY26 FY25 FY26 EBITDA Margin is EBITDA / Reve
Slide 21: Cogeneration data
Cogeneration data Power Generated (Mn Units) Power Exported (Mn Unit) Average Realization (INR/Unit) 4.4 SNAPSHOT 3.4 Power revenue for FY26 stood at Rs. 389.2 million, compared to Rs. 319.7 million in the corresponding period last year. For Q4 FY26, power revenue was Rs. 93.2 88.0 208.5 million, co
Slide 22: Distillery Segment - quarterly snapshot
Distillery Segment - quarterly snapshot Ethanol production across both distilleries during Q4 FY26 stood at 24.8 million liters vis-à-vis production of 29.9 million liters during the corresponding period quarter year. During Q4 FY26, industrial alcohol sales amounted to 21.3 million liters as compar
Slide 23: Distillery Segment - FY26 snapshot
Distillery Segment - FY26 snapshot During FY26, a total of 60.3 million litres of ethanol was produced across both distilleries, reflecting a 10% increase over the previous year, as against production of 55.0 million litres recorded during FY25. Revenue from Operations (INR Million) Industrial Alcoh
Slide 24: Outlook
Outlook The reduced availability of sugarcane during the year was primarily driven by multiple factors. Excessive rainfall during the critical crop growth phase adversely impacted yields, leading to lower overall cane availability. Additionally, strong demand from jaggery (gur) units diverted a si
Slide 25: Pictures of our facilities
Pictures of our facilities
Slide 26: Dwarikesh Nagar unit (Bijnor district)
Dwarikesh Nagar unit (Bijnor district) Sugar plant overview Distillation house & multi-effect evaporator Bagasse silos & feeders of boiler Continuous pan
Slide 27: Dwarikesh Puram unit (Bijnor district)
Dwarikesh Puram unit (Bijnor district) Juice evaporator Centrifugal station Cogeneration control panel Switch yard
Slide 28: Dwarikesh Dham unit (Bareilly district)
Dwarikesh Dham unit (Bareilly district) Facility overview 24 MW TG set Pan station Clarification section
Slide 29: Dwarikesh Nagar distillery (Bijnor district)
Dwarikesh Nagar distillery (Bijnor district) 162.5 KLPD distillery
Slide 30: Dwarikesh Dham distillery (Bareilly district)
Dwarikesh Dham distillery (Bareilly district) 175 KLPD distillery
Slide 31: Thank You
Thank You Vijay S. Banka Managing Director (DSIL) Email: vsbanka@dwarikesh.com
Dwarikesh Sugar Industries — Q4 FY26 Earnings Presentation on 6ix