Avadh Sugar & Energy Ltd. · NSE:AVADHSUGAR
Avadh Sugar & Energy — Q2 FY27 Earnings Presentation
24 slides from Avadh Sugar & Energy's earnings presentation, Nov 5, 2026
Slide 1: Regulation 30 disclosure cover letter to stock exchanges
AVADH/SE/2026-27/39 November 5, 2026 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 Street, Fort Mumbai 4000
Slide 2: Investor Presentation Q2 & H1 FY27
Investor Presentation Q2 & H1 FY27 Sustainability | Responsibility | Profitability
Slide 3: 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
Slide 4: Table of Contents
Table of Contents Company Business Financials Overview Updates Updates 3
Slide 5: Company Overview
Company Overview
Slide 6: Avadh at a Glance: Integrated Sugar, Ethanol and Power in UP
Avadh at a Glance : Integrated Sugar, Ethanol and Power in UP 34,800 325 74 MW 2.9 lakh TCD crushing capacity KLPD distillery (B-heavy) Co-generation Farmers connected Unit Region Sugar TCD KLPD SS 25-26 crush (lakh qtl) Hargaon Central UP (Sitapur) 13,000 200 190.53 Seohara West UP (Bijnor) 10,000
Slide 7: Shareholders Information
Shareholders Information As on 30 September 2026 Shareholder Information Shareholding Pattern BSE Ticker 540649 Others FII / FPI 8% NSE Symbol AVADHSUGAR 2% Market Cap (Rs Cr) 1,604 Individual / HUF 29% Free-float (%) 40% Promoters Free Float Market Cap (Rs Cr) 635 60% NRI / Foreign Shares Outstandi
Slide 8: Business Updates
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Slide 9: A Strong Balance Sheet, Ready for Growth
A Strong Balance Sheet, Ready for Growth WHAT IT MEANS FOR INVESTORS 01 02 03 04 Lower Financial Risk Growth Headroom Credit Strength Shareholder Returns Moving faster towards net Capacity to fund expansion Robust credit profile Flexibility to sustain or debt-free position reduces and capex without
Slide 10: Financial Snapshots
Financial Snapshots • Total Income Growth: Total Income increased Total Income (Rs Cr) EBITDA (Rs Cr) by 3.5% in H1FY27, primarily driven by a 2% increase in Sugar sales volume, despite an 19% decline in Ethanol sales volume. 80 1,436 1,387 42 49 655 670 20 • Strong EBITDA Growth: EBITDA increased b
Slide 11: Segment Overview
Segment Overview Particular Co-gen & Sugar Distillery Others 1,257 1,170 285 41 230 Revenue* 594 582 120 22 20 (Rs Cr) 73 4 Q2FY27 Q2FY26 H1FY27 H1FY26 Q2FY27 Q2FY26 H1FY27 H1FY26 Q2FY27 Q2FY26 H1FY27 H1FY26 45 36 3 EBIT 30 (Rs Cr) 21 -1 12 -9 -3 0.20 -7 -12 Q2FY27 Q2FY26 H1FY27 H1FY26 Q2FY27 Q2FY26
Slide 12: Sugar Segment Overview
Sugar Segment Overview Sugar Operational Metrics Sugar Produced (Lac Qtls.) Sugar Sold (Lac Qtls.) Inventory (Lac Qtls.) & its Valuation (Rs./Qtl.) 27.26 3810 3756 26.66 1.81 7.90 12.40 13.21 5.86 0.86 Q2FY27 Q2FY26 H1FY27 H1FY26 Q2FY27 Q2FY26 H1FY27 H1FY26 Sep-26 Sep-25 Sugarcane Crushing (Lac Qtls
Slide 13: Sugar Sector - Policy dashboard
Sugar Sector - Policy dashboard Lever Present Status Read-across for Avadh Cane FRP 2026-27 Rs 365/qtl at 10.25% recovery (+Rs 10) Cost floor up UP SAP 2026-27 Not announced; last year Rs 400 / Rs 390 (Early / General Variety) Biggest cost swing; farmers demanding higher prices Sugar MSP Rs 31/kg si
Slide 14: India: Sugar Outlook
India: Sugar Outlook ~3.66 MMT 3 MMT ~26 MMT opening stock on 1 Oct 2026, among the lowest October sale quota (1.4 + 1.6 MMT) ISMA forecast : Production for SS 2026-27, It was in a decade (~5 MT a year earlier) ~27.95 MMT (net of diversion) in SS 2025-26 New-season sugar is arriving slowly: ~123 Mah
Slide 15: Global: 2026/27 deficit forecasts keep widening
Global: 2026/27 deficit forecasts keep widening 2026/27 world sugar deficit forecasts ISO (Sep) 0.2 MT Covrig (Aug) 0.3 MT StoneX (Sep) 0.9 MT Green Pool (Oct) 6.28 MT India alone is seen 1.33 MT short, its widest gap in three years. 21.3¢ raw sugar 19-month high in mid-Oct; 20.24¢/lb on 23 Oct, ~35
Slide 16: Distillery and Co-Gen Segment Overview
Distillery and Co-Gen Segment Overview Ethanol Produced (Lac Ltrs.) Ethanol Sold (Lac Ltrs.) Power Sold to Grid (Lac Units) 457 464 37 32 375 267 19 187 197 117 6 46 Q2FY27 Q2FY26 H1FY27 H1FY26 Q2FY27 Q2FY26 H1FY27 H1FY26 Q2FY27 Q2FY26 H1FY27 H1FY26 Distillery Segment: EBIT declined due to lower Eth
Slide 17: Ethanol Policy: ESY 2026-27 shifts to grain
Ethanol Policy: ESY 2026-27 shifts to grain OMC tender (16 Oct 2026) for ~11 bn liters, Nov 2026–Oct 2027 – with zero sugar diversion Allowed feedstocks Excluded feedstocks Price changes • Maize • Cane juice / sugar syrup • Maize ethanol: Rs 71.86 → Rs 68.86/l • Broken rice & FCI surplus rice • B-he
Slide 18: Ethanol Blending, Allocation & Supply
Ethanol Blending, Allocation & Supply 19.99% Strongest growth lever: Ethanol diversion, higher blending targets and policy support continue to improve revenue stability and reduce cyclicality. Average ethanol blending achieved in ESY 2025-26 Monthly blending reached 20% in September 2026, on course
Slide 19: Financial Updates
Financial Updates
Slide 20: Profit & Loss Highlights
Profit & Loss Highlights Particulars (Rs Cr) Q2 FY27E Q2 FY26 YoY H1 FY27E H1 FY26 YoY Total income 655 670 -2.2% 1,436 1,387 +3.5% EBITDA 42 20 +210% 80 49 +163% EBITDA margin 6.4% 3.0% +340 bps 5.6% 3.5% +210 bps Interest 13 16 35 42 Depreciation 16 15 31 30 PAT 10 -7 Turnaround 10 -15 Turnaround
Slide 21: Balance Sheet: Debt falls as inventory is liquidated
Balance Sheet: Debt falls as inventory is liquidated Rs 268 Cr Debt (Rs Cr) Inventory at 30 Sep 2026 (Sugar Rs 223 Cr; Molasses / Ethanol / other Rs 45 Cr) vs Rs 360 Cr a year earlier 1,406 7.96% / 6.89% 975 Q2FY27 average cost of long-term / short-term borrowings 593 202 411 19 Dec-26E 391 431 392
Slide 22: Moving faster towards Zero Debt
Moving faster towards Zero Debt Rs Cr Particulars Sep - 26 Sep - 25 Long-term borrowings (including current maturities) 392 391 Short-term / working capital borrowings 19 202 NET DEBT Gross Debt (A) Cash, cash equivalents and bank balances 411 3 593 2 155 Now Surplus funds in liquid / debt mutual fu
Slide 23: Cash Flow Highlights
Cash Flow Highlights Particulars (Rs Cr) H1FY27 H1FY26 Rs Cr Net Cash Generated from Operating Activities 1095.84 915.77 Cash Used in Investing Activities (42.72) (74.60) Cash Used in Financing Activities (1052.03) (842.61) Net Decrease in Cash and Cash Equivalents 1.09 (1.44) Cash and Cash Equivale
Slide 24: Contact Us
Contact Us Mr. Dilip Patodia dilip.patodia@birla-sugar.com 9/1, R.N. Mukherjee Road, Kolkata www.avadhsugar.com Mr. Suyash Samant | Sharu Garg suyash@stellar-ir.com | sharu@stellar-ir.com A-405, Kanakia Wallstreet, Andheri (East), Mumbai www.stellar-ir.com