Dwarikesh Sugar Industries Ltd. · NSE:DWARKESH
Dwarikesh Sugar Industries — Q1 FY27 Earnings Presentation
29 slides from Dwarikesh Sugar Industries's earnings presentation, Jul 28, 2026
Slide 1: Regulation 30 Investor Presentation Submission Letter
REF: DSIL/2026-27/ 135 Date: 28th July 2026 Corporate Relationship Department National Stock Exchange of India Limited Bombay Stock Exchange “Exchange Plaza” Phiroze Jeejeebhoy Towers Bandra – Kurla Complex, Dalal Street, Fort, Mumbai - 400 001 Bandra [E], Mumbai - 400 051 Fax: 22723 2082 /3132 Scri
Slide 2: Investor Presentation Q1 FY27 Results
Investor Presentation Company Performance Date Q1 FY27 Results 28 July 2026
Slide 3: Safe harbor 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 securities
Slide 4: Table of contents
• Sector outlook ... 4 Table of • Business overview ... 6 contents • Financial performance ... 11 • Operation trends ... 16 • Pictures of our facilities ... 22
Slide 5: Sector outlook
❑ Global sugar production is projected to reach a record level in 2025-26, with the ISO estimating output at 182.0 MMT and the USDA at 186.056 MMT, resulting in an estimated 2.2 MMT global surplus. For 2026-27, both agencies expect production to moderate, while global consumption is projected to ris
Slide 6: Sector outlook
❑ In view of the downward revision in sugar production estimates for Sugar Season 2025-26, the relatively lower production outlook for Sugar Season 2026-27, and the recent firming of domestic sugar prices, the Government has announced a series of measures to ensure adequate market availability and c
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 Q1 FY27
Slide 13: Financial performance
Financial performance In INR million Q1FY27 Q1FY26 FY26 Total Income 3,600.7 4,059.7 14,090.9 EBIDTA (237.6) 44.3 940.3 PAT (257.3) (93.8) 308.4 In INR Q1FY27 Q1FY26 FY26 EPS (1.39) (0.51) 1.66
Slide 14: Q1 FY27 performance
Q1 FY27 performance Revenue from Operations (Million) EBITDA (Million) PAT (Million) Average Domestic Sugar Realization EBITDA Margin PAT Margin INR/Quintal 1.1% Q1FY26 Q1FY27 4,064.0 44.3 -93.8 -257.3 Q1FY26 Q1FY27 -2.3% -237.6 3,962.0 -6.6% 4,054.7 3,581.3 -7.2% Q1FY26 Q1FY27 PAT Margin is PAT / R
Slide 15: Financials - Summary
Financials - Summary In INR million Q1 FY27 Q1 FY26 FY26 REMARKS INCOME The reduction in Q1 FY27 was largely driven by lower Revenue from operations 3,581.3 4,054.7 14,019.4 ethanol sales volume Other income 19.4 5.0 71.5 -- Total Revenue 3,600.7 4,059.7 14,090.9 -- EXPENDITURE The 2025–26 sugar sea
Slide 16: Financials - Summary (continued)
Financials - Summary (continued) In INR million Q1 FY27 Q1 FY26 FY26 REMARKS Depreciation and amortization The decrease is primarily attributable to the revision in the estimated useful 76.3 120.6 367.4 lives of certain assets, undertaken during the quarter ended March 2026 in expense accordance wit
Slide 17: Operational trends
Operational trends
Slide 18: Sugar business - Synopsis
• The financial performance for Q1 FY27 was adversely impacted by lower contribution from sugar sales. Although sugar realizations improved during the quarter, the benefit was largely offset by the sale of high-cost opening inventory carried forward from Sugar Season 2025–26, when the higher State A
Slide 19: Sugar business - Quarterly snapshot
Sugar business - Quarterly snapshot Sugar Sold ('000 Quintal) Revenue from Operations (INR Million) EBITDA (INR Million) Average Domestic Sugar Realization INR/Quintal EBITDA Margin 4,064.0 3,962.0 -5.2% 662.6 750.4 3,141.9 -162.7 3,205.7 -252.9 Q1FY26 Q1FY27 Q1FY26 Q1FY27 -7.9% EBITDA Margin is EBI
Slide 20: Cogeneration data
Cogeneration data Power Generated (Mn Unit) Power Exported (Mn Unit) Average Realization (INR/Unit) 4.4 SNAPSHOT 3.4 Early closure of the sugar season 2025-26 resulted in virtually no power generation during Q1 FY27, leading to decline in power revenue. Revenue from power evacuation and sales stood
Slide 21: Distillery quarterly snapshot
Distillery quarterly snapshot Industrial alcohol sales volumes declined during Q1 FY27, primarily due to the absence of cane crushing and the resultant lower ethanol production during the quarter. Consequently, revenue & EBDITA from industrial alcohol also declined compared with the corresponding qu
Slide 22: Outlook
Outlook ❑ The Company remains focused on enhancing cane availability in the ensuing sugar season. Initiatives undertaken over the past year are beginning to yield encouraging results, as reflected in an improved varietal mix and satisfactory crop development. However, actual cane availability will l
Slide 23: Pictures of our facilities
ly, @ Pictures of our = facilities S88 SS _———— Or
Slide 24: 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 25: Dwarikesh Puram unit (Bijnor district)
Dwarikesh Puram unit (Bijnor district) Juice evaporator Centrifugal station Cogeneration control panel Switch yard
Slide 26: Dwarikesh Dham unit (Bareilly district)
Dwarikesh Dham unit (Bareilly district) Facility overview 24 MW TG set Pan station Clarification section
Slide 27: Dwarikesh Nagar distillery (Bijnor district)
Dwarikesh Nagar distillery (Bijnor district) 162.5 KLPD distillery
Slide 28: Dwarikesh Dham distillery (Bareilly district)
Dwarikesh Dham distillery (Bareilly district) 175 KLPD distillery
Slide 29: Thank You
Thank You Vijay S. Banka Managing Director (DSIL) Email: vsbanka@dwarikesh.com
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