The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) and Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) took on record the unaudited financial results for the quarter and nine months ended December 31, 2024.

Financial Highlights:

Avadh Sugar & Energy Limited (ASEL)

Q3FY25:

• Total Income: ₹619 Cr (Q3FY24: ₹595 Cr)
• EBITDA: ₹38 Cr (Q3FY24: ₹59 Cr)
• PAT: ₹7 Cr (Q3FY24: ₹22 Cr)

9MFY25:

• Total Income: ₹1,961 Cr (9MFY24: ₹2,076 Cr)
• EBITDA: ₹131 Cr (9MFY24: ₹211 Cr)
• PAT: ₹16 Cr (9MFY24: ₹73 Cr)

Magadh Sugar & Energy Limited (MSEL)

Q3FY25:

• Total Income: ₹285 Cr (Q3FY24: ₹219 Cr)
• EBITDA: ₹40 Cr (Q3FY24: ₹62 Cr)
• PAT: ₹21 Cr (Q3FY24: ₹39 Cr)

9MFY25:

• Total Income: ₹969 Cr (9MFY24: ₹810 Cr)
• EBITDA: ₹97 Cr (9MFY24: ₹134 Cr)
• PAT: ₹38 Cr (9MFY24: ₹70 Cr)

Management Commentary:

C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd:

“The sugar season 2024-25 has presented a mixed outlook, with challenges such as lower cane yields and lower recovery in key states like Uttar Pradesh, Maharashtra, and Karnataka affecting production. Despite these setbacks, we remain optimistic about long-term growth. However, rising production costs and stagnant ethanol prices call for timely policy adjustments.

At Avadh, we are focused on sustainable expansion, and with the upcoming completion of our crushing enhancement at the Hargaon unit for the 2025-26 season, we expect further value creation.”

C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd:

“The industry is facing a decline in production due to lower cane availability and recovery, along with a shift toward ethanol. Despite these challenges, our ability to adapt and invest in expansion positions us well for long-term growth.

At Magadh, we are committed to sustainability and are enhancing our crushing capacity and implementing steam-saving measures at our Narkatiaganj unit, which is now operational for the 2024-25 crushing season. With the right policy support, the sugar industry can continue to play a crucial role in India's economy.”

About Avadh Sugar & Energy Limited

• CIN: L15122UP2015PLC069635
• Specializes in sugar, spirits, ethanol, cogeneration, and by-products of sugar manufacturing.
• Operates four sugar mills in Uttar Pradesh: Hargaon, Seohara, Hata, and Rosa, with a total crushing capacity of 34,800 TCD.
• Two distilleries at Hargaon and Seohara with a combined ethanol capacity of 325 KLPD.
• Cogeneration facility generating 74 MW power.

About Magadh Sugar & Energy Limited

• CIN: L15122UP2015PLC069632
• Engaged in sugar manufacturing, ethanol production, and power generation.
• Operates three sugar mills in Bihar: Narkatiaganj, Sidhwalia, and Hasanpur, with a total crushing capacity of 21,500 TCD.
• Two distilleries at Narkatiaganj and Sidhwalia with a combined ethanol capacity of 155 KLPD.
• Cogeneration facility generating 38 MW power.

Sterling Holiday Resorts Ltd. has announced its strongest quarter yet in Q3 FY25, marking a milestone in the company’s growth trajectory. With 18 consecutive quarters of profitability, Sterling’s performance in Q3 surpassed even its traditionally dominant Q1, thanks to strategic portfolio expansion that strengthened revenue streams beyond peak seasons.

The company reported a 12% YoY income growth, reaching ₹1,389 Mn. EBITDA increased by 14%, with a solid 38.8% EBITDA margin, while EBIT rose 13% YoY.

Expanding Horizons: Three New Resorts Launched

Sterling’s portfolio now spans 48 locations with 57 resorts, hotels, and retreats in the upper-mid to upper-upscale segments. Strengthening its footprint, the company added three new resorts in Q3:

• Sterling Lontano Waterfront Wayanad (Kerala)
• Sterling Brookstone Coorg (Karnataka)
• Sterling Bagh Ranthambore (Rajasthan)

Maintaining its rapid growth pace, Sterling has launched one resort per month for the past 18 months, with several more in the pipeline.

"Sterling has witnessed its strongest-ever quarter, a testament to our brand's growing preference among customers. A surge in holiday demand, coupled with our aggressive resort expansion, has fueled this success," said Vikram Lalvani, MD & CEO, Sterling Holiday Resorts.

Food & Beverage Sees 20% Growth

Sterling’s food and beverage division has been another strong performer, recording a 20% YoY growth. The company attributes this to its enhanced dining experiences and a diverse range of culinary offerings across its properties.

Sustainability at the Core: Sterling Sankalp Initiative

Further strengthening its commitment to sustainability, Sterling has introduced Sterling Sankalp, an ESG initiative aimed at responsible tourism. The company has implemented key measures across several resorts, including:

• Energy Conservation: Heat pumps for optimized energy use
• Waste Management: Organic Waste Converters for eco-friendly disposal
• Water Sustainability: Rainwater harvesting and water recycling programs

Looking Ahead

On a year-to-date (YTD) basis, Sterling has achieved a 14% growth in income (₹3,842 Mn) and a 35% EBITDA margin, showcasing its sustained upward trajectory. With an expanding portfolio, a thriving food and beverage sector, and a strong focus on sustainability, Sterling continues to solidify its leadership in the hospitality industry.

The Union Budget 2025 has introduced key measures that promise growth across the hospitality, food & beverage, and startup sectors. Industry leaders see these developments as game-changing, driving innovation, infrastructure enhancement, and workforce development.

Strengthening the Catering Industry

Mayank Prasad, Founder of Curated Catering by Design, sees the budget as a positive step for the catering and hospitality sector.

"The establishment of the National Institute of Food Technology will drive innovation and skill development in food processing, benefiting the entire ecosystem. The push to enhance tourism by developing 50 key destinations is a welcome move that will directly boost demand for premium catering services. Additionally, government support for hospitality training programs will help bridge the skill gap, ensuring a well-trained workforce for the sector," he said. With these measures, the catering industry is poised to scale, innovate, and contribute significantly to India's evolving culinary landscape.

A Vision for Holistic Tourism Growth

Rahul Taneja, Head of Operations at Dharana at Shillim, highlighted the transformative impact of the budget on tourism.

"A standout feature is its strong emphasis on the travel and hospitality industry, with well-structured measures to boost both domestic and international tourism. Initiatives like promoting spiritual and medical tourism, along with the Heal in India initiative, will be game-changers," he noted. The budget’s collaboration with the private sector and simplified visa norms aim to position India as a top destination for holistic well-being, integrating Preventative Medicine, Healing Nutrition, Ayurveda, and more. Additionally, investments in skill development within the hospitality sector will enhance service quality, elevating India's global tourism reputation.

A Strong Push for Startups and Infrastructure

Vishal Puri, Co-Founder of Spalba, praised the budget’s steps toward fostering innovation and sustainability.
"Investments in tourism infrastructure and connectivity enhancements, like the development of greenfield airports and the modified UDAN scheme, should boost domestic and international travel. However, the quality of services at these airports, specifically regarding cancellations, needs to be controlled for these measures to be effective," he pointed out. The inclusion of hotels in the harmonized tourism infrastructure scheme and the ₹1 lakh crore Urban Challenge Fund are also expected to transform urban tourism experiences. Additionally, startups will benefit from an extended tax holiday, simplified compliance, and increased funding through the ₹10,000 crore Startup India Fund, driving digital innovations and sustainability.

With a strong focus on tourism, catering, and startups, the Union Budget 2025 sets the stage for accelerated growth, making India a more attractive and accessible destination for travelers and entrepreneurs alike.