Dwarikesh Sugar Industries Limited — PPTs, 27-01-2025: Investor Presentation

**Investor Presentation Summary**

**Financial Highlights**: For Q3 FY25, total income was ₹3,163.9 million, while EBITDA stood at ₹308.9 million, resulting in a PAT of ₹107.3 million. In comparison, total income was ₹3,189.6 million with a PAT of ₹98.1 million in Q3 FY24. Over the nine months ending December 31, FY25, total income declined to ₹9,062.5 million, with a PAT of -₹229.9 million, influenced by reduced sugar and ethanol sales volumes.

**Strategic Initiatives and Growth Drivers**: Dwarikesh Sugar is enhancing crop resilience by transitioning farmers to newer, more robust sugarcane varieties, aiming for improved crushing figures in upcoming seasons. The resumption of ethanol blending utilizing sugarcane juice and syrup as feedstock is also key, alongside maximizing the use of B-heavy molasses in the off-season.

**Business Developments**: The government’s recent allocation of 1 million tons for sugar exports is anticipated to boost liquidity and facilitate quota exchanges benefiting cash flows. Expectations for an increase in the ethanol procurement price and a revision of the Minimum Support Price for sugar further position the company positively.

**Market Position and Competitive Advantage**: The company remains strategically located in Uttar Pradesh, India's leading sugar-producing state, which provides advantageous access to major sugar-consuming markets.

**Investor Implications**: With potential recovery driven by optimized operations and favorable market conditions, there’s a positive outlook for Dwarikesh Sugar. Investors should watch for improvements in production and pricing dynamics in the coming quarters.