Dhampur Sugar Mills Limited — PPTs, 12-11-2024: Investor Presentation

**Financial Highlights:** For H1 FY25, Dhampur Sugar Mills recorded a revenue of ₹258.95 Cr and a profit before tax (PBT) of ₹36.5 Cr. This reflects a decline compared to H1 FY24, where revenue was ₹497.31 Cr with a PBT of ₹75.5 Cr. In Q2 FY25, revenue stood at ₹80.7 Cr with a PBT of ₹5.2 Cr, down from ₹82.25 Cr and ₹7.5 Cr in Q2 FY24. The EBITDA margin decreased to 2.9% in Q2 FY25 from 8.2% in the previous year.

**Strategic Initiatives and Growth Drivers:** The company is focusing on enhancing operational efficiency across its existing sugar, ethanol, and spirits businesses while navigating challenges in molasses supply affecting ethanol production.

**Business Developments:** Dhampur has expanded its potable spirits capacity and increased its ethanol distillery capabilities, commissioned in early 2024, to support future growth.

**Market Position and Competitive Advantage:** The company maintains a strong foothold in the sugar market with a realization of ₹38,163/ton for sugar in Q2 FY25, up from ₹37,570/ton in Q2 FY24, signaling better pricing power despite volume challenges.

**Investor Implications:** With evolving market dynamics and production adjustments, Dhampur presents potential for recovery in sugar realization and operational efficiencies. Investors should monitor the company's response to ethanol supply challenges and overall market conditions for sugar and spirits, noting a positive outlook amidst current headwinds.