Magadh Sugar & Energy Limited — Updates, 11-11-2024: Press Release

**Financial Highlights:** In Q2 FY25, Magadh Sugar & Energy Limited (MSEL) reported total income of ₹324 Cr, compared to ₹289 Cr in Q2 FY24. EBITDA fell to ₹21 Cr from ₹33 Cr, and PAT decreased to ₹5 Cr from ₹15 Cr. For H1 FY25, total income was ₹684 Cr, up from ₹590 Cr in H1 FY24. However, EBITDA declined to ₹57 Cr from ₹72 Cr, while PAT dropped to ₹17 Cr from ₹31 Cr.

**Strategic Initiatives and Growth Drivers:** The company emphasized its commitment to operational excellence amid industry challenges. Recent government policy changes allowing the use of cane juice and syrup for ethanol production present significant growth opportunities. MSEL plans strategic investments to boost production capacity.

**Market Position and Competitive Advantage:** With three sugar mills and distilleries, MSEL has a combined crushing capacity of 21,500 TCD and ethanol production capacity of 155 KLPD, bolstering its market presence.

**Investor Implications:** The results reflect a challenging environment, but the potential for growth in the ethanol sector, supported by government policies, presents a positive outlook for investors. Continued investments in capacity expansion could lead to improved performance in future periods.