E I D Parry India (EIDPARRY) Q4 25/26 earnings summary

Executive summary

• Global sugar markets softened in FY 2026, shifting to surplus with prices declining sharply year-over-year.

• FY 2025-26 was challenging, with a focus on disciplined execution, operational efficiency, and portfolio reshaping for long-term value creation.

• Strategic exits and resets included the closure and liquidation of the loss-making refinery (PSRIPL), with all related financial obligations settled.

• Domestic sugar production in India recovered, led by Maharashtra and Karnataka, with stable output in Uttar Pradesh.

• Priorities for FY27 include strengthening core businesses, margin improvement, working capital management, and digital transformation.

Financial highlights

• Consolidated revenue for FY26 was Rs. 38,534 crore, up 22% year-over-year, but operational EBITDA was impacted by exceptional items and subsidiary restructuring.

• Standalone revenue for FY26 was Rs. 3,120 crore, slightly down from Rs. 3,168 crore in FY25, with a standalone loss after tax of Rs. 708 crore, mainly from provisions and impairments.

• Sugar segment Q4 revenue rose 14% year-over-year to INR 466 crore, driven by higher exports and release quota.

• Distillery Q4 revenue reached INR 275 crore, up from INR 268 crore year-over-year, but profit declined due to higher input costs and lower realizations.

• Consumer Product Group (CPG) Q4 revenue declined 48% to INR 115 crore due to strategic model recalibration.

Outlook and guidance

• CPG segment aims to break even within 6–8 quarters and targets single-digit EBITDA margin by decade-end.

• FY27 will focus on maximizing revenue streams across sugar, co-generation, and distillery segments, with continued emphasis on cost reduction and operational efficiency.

• New jaggery facility in Karnataka expected to be commissioned by end of FY27 Q3.

• Nutraceuticals to focus on capacity utilization, new product launches, and efficient operations.

• Positive outlook for ethanol blending increases, with government intent to move towards E30, supporting higher capacity utilization.