E I D Parry India (EIDPARRY) Q4 23/24 earnings summary

Executive summary

• Revenue from operations declined 3% year-over-year to ₹2,809 crore due to policy changes on ethanol, sugar exports, lower recovery from climatic changes, and plant downtime.

• EBITDA dropped 42% to ₹307 crore, and profit after tax fell 46% to ₹107 crore, reflecting a challenging year impacted by regulatory and environmental headwinds.

• The company continued its strategic shift from commodity sugar to value-added food, bioenergy, and nutrition segments, with non-sugar revenues rising to 33% of turnover.

Financial highlights

• Standalone revenue: ₹2,809 crore (FY24) vs ₹2,895 crore (FY23).

• EBITDA: ₹307 crore (FY24) vs ₹527 crore (FY23).

• PAT: ₹107 crore (FY24) vs ₹197 crore (FY23).

• EPS: ₹6.03 (FY24) vs ₹11.09 (FY23).

• Dividend: ₹4 per share interim, treated as final for FY24.

• Net worth: ₹2,919 crore (up 1.3% YoY).

• Debt-equity ratio: 0.36 (vs 0.18 in FY23).

Outlook and guidance

• Expectation of improved profitability in FY25, driven by better sugar business performance and new distillery capacity, though ethanol policy restrictions may impact near-term distillery utilization.

• Retail sales projected to grow, targeting 200,000 outlets in South India by 2025.

• Continued focus on expanding non-sugar revenues and asset-light business models.