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Dwarikesh Sugar reported a tough Q1 FY27, with revenue dropping to ₹358.13 Cr from ₹405.97 Cr year-on-year. The company posted an EBITDA loss of ₹23.76 Cr (vs. profit of ₹4.43 Cr) and a PAT loss of ₹25.73 Cr (vs. loss of ₹9.38 Cr). EPS also reflected a larger loss at ₹1.39.
The performance was hit by the early close of the 2025-26 sugar season, meaning no sugarcane crushing in Q1 FY27. This led to lower ethanol and by-product sales, compounded by reduced margins from selling high-cost sugar inventory.
Despite the challenging quarter, the sugar outlook is improving. Global markets are tightening, and domestic sugar prices are firming up. The company is focusing on increasing cane availability for the upcoming season, with early signs of an improved varietal mix. They are also committed to boosting operational efficiencies and cost control. Management is cautiously optimistic about future quarters, anticipating a healthy sugarcane crop and favorable sugar prices.