Magadh Sugar & Energy Reports Q2 & H1FY25 Financial Results

Magadh Sugar & Energy Reports Q2 & H1FY25 Financial Results

By Nishang Narayan

Published on November 15, 2024

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.

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“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.


Bangkok’s Funk Meets Bangalore: FunkyTown x Muro Collaboration

Bangkok’s Funk Meets Bangalore: FunkyTown x Muro Collaboration

By Author

Published on November 27, 2024

Mark your calendars for November 29th and 30th, 2024, as FunkyTown, Bangkok’s culinary sensation, teams up with Muro, Bangalore, for two nights of bold, boundary-pushing flavors. Led by the talented team of Pae Ketumarn, Earth Pirwkram, and Theo from FunkyTown and Sarnies Thailand, the event promises an extraordinary menu of innovative small bites and cocktails exploring the depth of Thai cuisine with a unique "funk level" scale, ranging from mild to daringly intense.

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Guests can indulge in creations like Scallop Crudo Tart, Beef Tartare Cone, and Duck & Apple Snail Tsukune, paired with signature drinks such as the Durian Colada, Mango Martini, and the adventurous Green Curry Cocktail. Each dish and drink combines creative flair, sustainability, and locally rooted ingredients to offer a one-of-a-kind sensory experience.

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Whether you prefer subtle tastes or are ready for the ultimate funky adventure, this exclusive collaboration is a must-attend for food and cocktail enthusiasts. Limited seats available—book now for an unforgettable celebration of Thai-inspired innovation and artistry!


Odia Bhoj - Transcend to the Flavors of Odisha in Mumbai with Chef Biswajit Odia Pop-Up at Momo Café, Courtyard by Marriott!

Odia Bhoj - Transcend to the Flavors of Odisha in Mumbai with Chef Biswajit  Odia Pop-Up at Momo Café, Courtyard by Marriott!

By Author

Published on November 25, 2024

What if you could savor the essence of Odisha—its coastal breeze, vibrant spices, and time-honored recipes—right here in Mumbai? Well here's your chance! At Courtyard by Marriott Mumbai International Airport's Momo Cafe, Chef Biswajit Moharathi, a MasterChef India Season 7 Top 25 contestant, invites you to embark on an unforgettable gastronomic adventure. This exclusive pop-up, running from 22nd November to 1st December 2024, brings the heart of Odisha's cuisine to the city that never stops craving new culinary experiences.

Chef Biswajit, a Bhubaneswar native and engineer-turned-culinary visionary, known for his ability to elevate Indian cuisine while staying true to its roots, invites you to explore the flavors of his homeland through a thoughtfully curated buffet that promises a symphony of taste, tradition, and innovation. "Odisha's food is about balancing flavours—earthy, tangy, spicy, and sweet. I'm excited to bring this experience to Mumbai, a city that appreciates bold flavors and culinary innovation," shares Chef Biswajit Moharathi

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 Indulge in a symphony of taste, as Chef Biswajit curates a delectable buffet showcasing the best of Odia cuisine. From the fiery spices to the delicate flavors, each dish is a testament to the region's rich culinary heritage. Start with the refreshing Mandia Guda Sherbet, a traditional Odian drink made from jaggery and roasted ragi. Move on to the savoury Dali Bara with Tamarind Dip, a popular Odia snack. For the main course, savour the rich and spicy Kankada Jhola, a crab curry, or the tender Chicken Kassa. Accompaniments such as Badi ChuraAmbula Rai, and the smoky Tomato Poda will make your journey to the eastern even more delightful. And to conclude your meal on a sweet note, indulge in the heavenly Manda Pitha, a steamed rice cake filled with coconut and jaggery or the crispy Malpua, and creamy Rabdi.

 Indulge in a culinary journey that will transport you to the sun-kissed shores of Odisha. Book your table now and experience the magic of Odia cuisine!

Timings - 7pm to 11pm 

Date – 22nd November- 1st December 2024

Address – CTS 215, Andheri - Kurla Rd, opposite Carnival Cinemas, Andheri East, Mumbai, Maharashtra 400059

About Marriott International

Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of approximately 9,000 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®️, its highly awarded travel program.  For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.  In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.


Proost Secures INR 30 Crore in Series-A Funding to Expand Operations

Proost Secures INR 30 Crore in Series-A Funding to Expand Operations

By Nithyakala Neelakandan

Published on November 21, 2024

Proost, a homegrown beer startup founded in 2017 by Tarun Bhargava and Vijay P. Sharma, has successfully raised INR 30 crore as part of its ongoing Series-A funding round. The investment was led by existing backers Chimes Group and Srinivasan Namala of Porus Laboratories, with participation from Hyderabad Angels, The Chennai Angels, and other high-net-worth individuals (HNIs).

The newly acquired funds will bolster Proost’s supply chain, support its entry into new markets, and deepen its reach in existing regions. The company also plans to expand its product portfolio and strengthen brand-building initiatives to position itself as a leading player in India’s beer market.

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Tarun Bhargava, Co-Founder & CEO of Proost

“We are thrilled to announce this new round of funding, which represents a significant step forward in Proost's journey,” said Tarun Bhargava, Co-Founder & CEO of Proost. “With these funds, we will focus on expanding production capacity, exploring new markets, and deepening our presence in current ones. This brings us closer to our goal of capturing a substantial share of the Indian beer market by the end of the decade.”

Proost operates under the banner of Grano69 Beverages and has already established a robust presence across Delhi, Punjab, Uttar Pradesh, Kerala, Jharkhand, and Karnataka. The company aims to capture a 5% market share in India’s beer industry by the end of the decade, leveraging customer-focused product development, strategic market expansion, and innovation.

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Vijay Prakash Sharma, MD & Co-Founder of Proost

The brand is known for its premium quality beers characterized by low bitterness and high drinkability. Proost also prides itself on being a “Made in India” brand, sourcing 99% of its raw materials locally.

A representative from Chimes Group expressed enthusiasm about Proost’s growth trajectory, stating, “Proost’s strong market presence and vision reflect the team’s deep understanding of the Indian consumer. We are excited to support their mission to transform the beer industry with high-quality, innovative products.”

Proost intends to use the funds to introduce new beer variants that cater to evolving consumer preferences. The company also seeks to maintain its competitive edge by tapping into emerging trends and developing products that resonate with the Indian audience.

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