Shree Renuka Sugars (RENUKA) Q1 24/25 earnings summary

Executive summary

• Total domestic sugar sales volumes rose 24% year-over-year to 165,764 MT; refinery sales increased 29% to 404K MT.

• Revenue grew 27.5% year-over-year to Rs. 29,177 million standalone and 30% consolidated.

• EBITDA declined to Rs. 1,070 million from Rs. 1,468 million year-over-year, mainly due to ethanol business and lower MTM in commodity hedging.

• Consolidated loss before tax was Rs. 1,781 million; standalone loss before tax was Rs. 1,485 million.

Financial highlights

• Standalone revenue from operations for the quarter was Rs. 29,177 million, up from Rs. 22,890 million year-over-year.

• Standalone EBITDA for the quarter was Rs. 1,070 million, down from Rs. 1,468 million year-over-year.

• Standalone loss for the period was Rs. 1,352 million, compared to Rs. 1,222 million loss year-over-year.

• Consolidated revenue from operations was Rs. 30,339 million, up from Rs. 22,840 million year-over-year.

• Consolidated loss for the period was Rs. 1,662 million, compared to Rs. 1,110 million loss year-over-year.

Outlook and guidance

• Management believes the company will meet all financial obligations on a timely basis, supported by guarantees and letters of support from the holding company.

• The company continues to operate on a going concern basis despite negative net worth and current liabilities exceeding current assets.