Avadh Sugar & Energy Ltd

₹ 480 -1.05%
27 Jan - close price
About

Avadh Sugar & Energy Ltd is primarily engaged in the manufacture and sale of sugar and its by-products (molasses, bagasse and press-mud), spirits including ethanol and power. It was incorporated in March 2015 with the purpose of transferring sugar units in Uttar Pradesh of Oudh Sugar Mills Limited (Oudh) and Upper Ganges Sugar & Industries Limited (Upper Ganges) to a separate entity. [1][2]

Key Points

Business Division
Sugar: The Co crushed 576 lakh quintals of sugarcane in FY21 with average recovery of 10.8% against crushing of 599 lakh quintals in FY20 with average recovery of 11.5%.
Distillery: The Co uses its entire molasses output captively to produce ethanol and alcohol. During FY21, the distillery was in operation for 296 days against 285 days in FY20.
Power: The Co has bagasse-based power generation capability. It produced 19.7 crore units of power during FY21. [1][2]

  • Market Cap 961 Cr.
  • Current Price 480
  • High / Low 885 / 468
  • Stock P/E 11.5
  • Book Value 395
  • Dividend Yield 2.08 %
  • ROCE 12.6 %
  • ROE 16.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • The company has delivered a poor sales growth of 7.94% over past five years.
  • Dividend payout has been low at 11.8% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Figures in Rs. Crores

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
437 871 773 563 620 696 831 619 620 747 759 688 589
405 823 678 508 566 653 724 549 545 673 674 624 589
Operating Profit 32 48 95 55 54 43 107 70 75 73 85 64 0
OPM % 7% 5% 12% 10% 9% 6% 13% 11% 12% 10% 11% 9% 0%
4 1 0 0 1 4 2 0 1 1 2 0 5
Interest 34 25 23 29 33 26 28 28 24 16 20 22 18
Depreciation 11 11 11 11 12 13 13 13 13 13 13 12 12
Profit before tax -9 13 61 16 10 7 68 29 39 44 54 30 -25
Tax % 33% 41% 1% 35% 28% 49% 17% 35% 36% 35% 6% 35% 35%
Net Profit -6 8 60 10 7 4 57 19 25 29 51 20 -16
EPS in Rs -2.88 3.75 30.22 5.02 3.60 1.86 28.27 9.47 12.61 14.42 25.65 9.84 -8.13
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
0 1,873 2,336 2,130 2,559 2,711 2,744 2,782
0 1,441 2,066 1,838 2,298 2,451 2,441 2,560
Operating Profit -0 432 270 292 262 260 303 223
OPM % 23% 12% 14% 10% 10% 11% 8%
0 -2 3 3 5 6 4 8
Interest 0 138 114 97 116 116 88 76
Depreciation 0 46 44 44 45 48 51 50
Profit before tax -0 247 114 154 106 101 167 104
Tax % 0% 18% 23% 22% 17% 23% 26%
Net Profit -0 203 88 120 89 78 124 84
EPS in Rs 101.66 44.08 59.94 44.27 38.75 62.15 41.78
Dividend Payout % 0% 0% 1% 3% 9% 10% 16%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 9%
TTM: 1%
Compounded Profit Growth
10 Years: %
5 Years: -10%
3 Years: 1%
TTM: -20%
Stock Price CAGR
10 Years: %
5 Years: 7%
3 Years: 16%
1 Year: -22%
Return on Equity
10 Years: %
5 Years: 18%
3 Years: 15%
Last Year: 17%

Balance Sheet

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
0 10 64 37 20 20 20 20
Reserves -0 304 381 499 572 646 790 771
0 1,363 1,299 1,525 1,596 1,375 1,215 841
0 568 431 575 672 608 405 109
Total Liabilities 0 2,244 2,121 2,609 2,859 2,649 2,430 1,741
0 988 983 974 966 1,085 1,077 1,054
CWIP 0 1 10 4 69 14 9 87
Investments 0 21 13 12 10 15 47 44
0 1,235 1,115 1,618 1,814 1,535 1,298 557
Total Assets 0 2,244 2,121 2,609 2,859 2,649 2,430 1,741

Cash Flows

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-0 146 166 -106 185 465 314
0 -18 -48 -29 -98 -108 -54
0 -100 -144 134 -84 -358 -264
Net Cash Flow -0 27 -26 -1 2 -0 -4

Ratios

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 13 13 19 16 8 11
Inventory Days 327 204 341 275 232 202
Days Payable 64 68 114 111 93 54
Cash Conversion Cycle 276 149 246 179 147 160
Working Capital Days 103 103 165 146 104 103
ROCE % 46% 13% 13% 10% 10% 13%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
60.35 60.35 60.35 60.35 60.35 60.35 60.39 60.39 60.39 60.39 60.39 60.39
0.00 0.00 0.00 0.00 0.00 0.58 0.95 0.66 2.33 2.19 2.14 2.04
0.47 0.62 0.32 0.32 0.32 0.32 0.32 0.31 0.28 0.28 0.37 0.32
39.18 39.03 39.33 39.33 39.33 38.75 38.34 38.64 37.00 37.14 37.10 37.26

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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