Magadh Sugar & Energy Limited (MSEL) has reported its unaudited financial results for the Quarter and Half Year ended September 30, 2024, showing significant strides in revenue growth despite challenges in profitability. The company's performance reflects the ongoing efforts to navigate the evolving landscape of the sugar industry.

Financial Highlights:

Q2FY25:

• Total Income stood at Rs. 324 Cr, up from Rs. 289 Cr in Q2FY24.
• EBITDA for the quarter was Rs. 21 Cr, down from Rs. 33 Cr in the same period last year.
• PAT was Rs. 5 Cr, a decrease from Rs. 15 Cr in Q2FY24.

H1FY25:

• Total Income reached Rs. 684 Cr, compared to Rs. 590 Cr in H1FY24.
• EBITDA for the half year was Rs. 57 Cr, down from Rs. 72 Cr in H1FY24.
• PAT for the half year was Rs. 17 Cr, compared to Rs. 31 Cr in H1FY24.

Chairperson’s Comments: Mr. C.S. Nopany, Chairperson of Magadh Sugar & Energy Ltd, expressed optimism despite the industry's challenges. He highlighted the potential benefits of the recent government decision to lift restrictions on the use of cane juice, syrup, and B-heavy molasses for ethanol production. Mr. Nopany emphasized the importance of continued policy support to both the sugar and ethanol sectors, which will help ensure operational efficiency and growth.

“We remain committed to driving sustainable growth through strategic investments in our production capacity,” Mr. Nopany stated. The ongoing capital expenditure program, focused on increasing crushing capacity and improving steam-saving measures at the Narkatiaganj unit, will be operational with the new crushing season in 2024-25.

About Magadh Sugar & Energy Limited: 

Magadh Sugar & Energy Limited, incorporated in 2015, operates three sugar mills across Bihar with a combined crushing capacity of 21,500 TCD. The company also runs two ethanol distilleries and a co-generation power facility capable of generating 38 MW of power. The company’s strategic focus remains on expanding production and enhancing sustainability, positioning itself for continued growth in the sugar and ethanol industries.