Avadh Sugar & Energy Ltd. · NSE:AVADHSUGAR
Avadh Sugar & Energy — Q3 FY24 Earnings Presentation
17 slides from Avadh Sugar & Energy's earnings presentation, Feb 12, 2024
Slide 1: Exchange disclosure cover letter
& A\/ SUGAR AY & ENERGY r LTD AVADH/SE/2023-24/53 February 12, 2024 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) D
Slide 2: Avadh Sugar & Energy Ltd
Avadh Sugar & Energy Ltd Building Energy Efficiency 66 Credit Rating upgraded to “A+” in January 2024
Slide 3: Q3 & 9MFY24 Highlights
ABAVADE SUGAR & ENERGY LTD Q3 & IMFY24 Highlights
Slide 4: Sugar operating highlights Q3 and 9M FY24
Particulars Unit Q3 FY 24 Q3 FY 23 YoY (%) 9M FY 24 9M FY 23 YoY (%) Sugarcane Crushing Lac Qtls 197.28 164.46 20% 319.41 253.63 26% Sugar Production Lac Qtls 17.89 13.54 32% 30.64 22.49 36% Sugar Sales — Domestic Rs Lacs 10.69 10.39 3% 39.85 35.17 13% Export Rs Lacs - 3.45 - - 5.56 - Sugar Real. Do
Slide 5: Distillery and Co-Gen operating highlights
en (2/2) BAVAI Distillery Fad bl Tey Q3FY24 Q3FY23 Se] ze So) VL ze} YoY (%) Production Lac Litres Sales Lac Litres 204.15 192.80 Avg. Real. Rs/ Litres 60.73 60.57 Closing Stock Lac Litres 54.74 32.80 Co Gen (Power) ela (Ul FL a Q3FY24 Q3FY23 QOMFY24 9MFY23 YoY (%) Generation Lac Unit Sales to Grid
Slide 6: Segment Performance — Q3 & 9M FY24
Segment Performance — Q3 & 9M FY24 ic, Sugar 574 689 -17% 19 30 -37% 3% 4% Distillery 125 122 2% 23 14 64% 18% 11% Co generation 59 66 -11% 7 1 600% 12% 2% Others 6 7 -14% - - - - - Less: Intersegment Revenue 170 209 Sugar 1882 1820 3% 88 26 238% 5% 1% Distillery 469 401 17% 94 79 19% 20% 20% Co gen
Slide 7: Sugar segment financial drivers
== pie oot ot 122 66 cm) Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Lower Revenue largely due to no Export Higher volume of Ethanol Sale, up by 6% Lower Transfer rate of Steam Domestic Sugar volume higher by 3% cmt [sx | 9MFY23 QMFY24 9MFY23 QMFY24 9MFY23 QMFY24 Higher Sugar Prices, up by 6% Higher V
Slide 8: Segment profitability drivers
er Lite _ (m4 alte 600% 4 ; 19 14 1 a Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Higher Cane Prices, Low Volume Sale Higher Volume of Ethanol Sale Lower Bagasse Rate and Higher Realisation of Sugar 238% 4 88 9 4 94 ox )t 26 9MFY23 QMFY24 ) 9MFY23 i QMFY24 bee -6 * Higher Realisation and better Sugar
Slide 9: EBITDA and profit trends
EBITDA a 52 [sx “y | Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 1,952 Lx if 2,074 0 nm |4 211 247% 8 123 LL : 9MFY23 SMFY24 9MFY23 OMFY24 9MFY23 QMFY24 Increase in Profitability is due to Higher Realisation across Sugar and Ethanol despite increase in cane prices
Slide 10: Debt position, credit rating and growth drivers
Details of Outstanding position :- 31/12/2023 31/12/2022 31/03/2023 Term Loan i 406 i 468 i 437 Cash Credit / Short Term Loan /1CD* 342 i 256 i 630 * Due to higher crushing by 26% , higher inventory and increase in cane prices. ¢ Long Term Credit Rating upgraded from “A/Stable ” to “A+/Stable” and S
Slide 11: Profit and loss summary
Total Income 595 675 2076 1,959 Raw Material Cost 441 535 1615 1592 Employee Cost 31 28 82 88 Other Expenditure 63 61 168 156 Depreciation 14 13 40 38 PBIT 46 39 171 85 Interest 12 11 59 52 Profit Before Tax 34 28 112 33 Tax 12 10 39 * 12 EPS (Rs) ** 10.89 8.86 10.56 * Including deferred tax of Rs 2
Slide 12: Industry overview
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Slide 13: Global Sugar Outlook for SS 2023-24
GY LTD 0.60 0.58 0.55 0.50 Opening Bal. of Sugar Inventory 94.7 95.2 0.45 0.40 Production during the year 178.5 179.5 0.35 0.30 , , 0.25 Consumption during the year 178.0 180.0 0.20 PSAH > Cc pt RA AARSARARARRRARA s > Cc ow s > Cc ow s > Closing Balance for the year 95.2 94.7 gs 8 8 S s 2g 38 S s S3
Slide 14: FRP and SAP of sugarcane; domestic sugar outlook
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 23-24 370 350 360 340 355 335 * — Revision in cane transportation rebate : Rs.
Slide 15: Quantity Supplied (Ethanol) and % Blending Trends
Quantity Supplied (Ethanol) and % Blending Trends 15.0% The target is to reach 12% blending in 2022-23, 15% in 2023-24 and 20% in 2024-25 12.09 For Ethanol Supply Year (ESY) 2023-24 (Nov-Oct), OMCs floated tender 10.0% for 825 crore litres with a 15% blending target and offers were received for 560
Slide 16: Disclaimer
MM AV AD I- 50 GR & ENERGY LTD 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
Slide 17: Contact Us
Contact Us STELLAR Ms. Pooja Sharma / Ms. Amritha Poojari pooja.sharma@stellar-ir.com / amritha@stellar-ir.com A-405, Kanakia Wallstreet, Andheri (East), Mumbai