Avadh Sugar & Energy Ltd

Avadh Sugar & Energy Ltd

₹ 631 6.32%
04 Mar 4:01 p.m.
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 ~57 lakh Tonnesof sugarcane in FY23 with an average recovery of 10% and the sugar produced is 5 lakh tonnes
Distillery: The Co uses its entire molasses output captively to produce ethanol and alcohol, in FY23 it produced around 9 cr ltr Ethanol of which 6 cr litres was generated through the B-Heavy route
Power: The Co has bagasse-based power generation capability. It produced ~24 cr units of power during FY23. [1] [2]

  • Market Cap 1,258 Cr.
  • Current Price 631
  • High / Low 855 / 388
  • Stock P/E 8.29
  • Book Value 486
  • Dividend Yield 1.58 %
  • ROCE 10.4 %
  • ROE 11.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • The company has delivered a poor sales growth of 3.68% over past five years.
  • Company has a low return on equity of 13.4% 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
696 831 619 620 747 759 688 589 675 846 682 798 594
653 724 549 545 673 674 624 589 624 706 609 720 535
Operating Profit 43 107 70 75 73 85 64 0 50 140 73 77 59
OPM % 6% 13% 11% 12% 10% 11% 9% 0% 7% 17% 11% 10% 10%
4 2 0 1 1 2 0 5 2 2 0 1 1
Interest 26 28 28 24 16 20 22 18 12 18 26 20 12
Depreciation 13 13 13 13 13 13 12 12 13 13 13 13 14
Profit before tax 7 68 29 39 44 54 30 -25 28 111 34 44 34
Tax % 49% 17% 35% 36% 35% 6% 35% 35% 36% 29% 35% 35% 35%
4 57 19 25 29 51 20 -16 18 79 22 29 22
EPS in Rs 1.86 28.27 9.47 12.61 14.42 25.65 9.84 -8.13 8.86 39.51 11.07 14.42 10.88
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
0 1,873 2,336 2,130 2,559 2,711 2,744 2,798 2,920
0 1,441 2,066 1,838 2,298 2,451 2,441 2,543 2,571
Operating Profit -0 432 270 292 262 260 303 255 349
OPM % 23% 12% 14% 10% 10% 11% 9% 12%
0 -2 3 3 5 6 4 9 4
Interest 0 138 114 97 116 116 88 69 76
Depreciation 0 46 44 44 45 48 51 51 53
Profit before tax -0 247 114 154 106 101 167 144 223
Tax % 0% 18% 23% 22% 17% 23% 26% 30%
-0 203 88 120 89 78 124 100 152
EPS in Rs 101.66 44.08 59.94 44.27 38.75 62.15 50.07 75.88
Dividend Payout % 0% 0% 1% 3% 9% 10% 16% 20%
Compounded Sales Growth
10 Years: %
5 Years: 4%
3 Years: 3%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: 2%
3 Years: 3%
TTM: 110%
Stock Price CAGR
10 Years: %
5 Years: 20%
3 Years: 44%
1 Year: 46%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 13%
Last Year: 11%

Balance Sheet

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 10 10 10 20 20 20 20 20
Reserves -0 304 381 499 572 646 790 871 953
Preference Capital 0 0 54 27 0 0 0 0
0 1,363 1,299 1,525 1,596 1,375 1,215 1,068 662
0 568 431 575 672 608 405 459 135
Total Liabilities 0 2,244 2,121 2,609 2,859 2,649 2,430 2,418 1,770
0 988 983 974 966 1,085 1,077 1,165 1,144
CWIP 0 1 10 4 69 14 9 13 50
Investments 0 21 13 12 10 15 47 47 104
0 1,235 1,115 1,618 1,814 1,535 1,298 1,192 471
Total Assets 0 2,244 2,121 2,609 2,859 2,649 2,430 2,418 1,770

Cash Flows

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-0 146 166 -106 185 465 314 364
0 -18 -48 -29 -98 -108 -54 -124
0 -100 -144 134 -84 -358 -264 -239
Net Cash Flow -0 27 -26 -1 2 -0 -4 1

Ratios

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 13 13 19 16 8 11 9
Inventory Days 327 204 341 275 232 202 180
Days Payable 64 68 114 111 93 54 61
Cash Conversion Cycle 276 149 246 179 147 160 129
Working Capital Days 103 103 165 146 104 119 99
ROCE % 46% 13% 13% 10% 10% 13% 10%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
60.35% 60.35% 60.39% 60.39% 60.39% 60.39% 60.39% 60.39% 60.39% 60.39% 60.39% 60.39%
0.00% 0.58% 0.95% 0.66% 2.33% 2.19% 2.14% 2.04% 1.89% 2.20% 3.88% 4.18%
0.32% 0.32% 0.32% 0.31% 0.28% 0.28% 0.37% 0.32% 0.32% 0.30% 0.31% 0.85%
39.33% 38.75% 38.34% 38.64% 37.00% 37.14% 37.10% 37.26% 37.41% 37.11% 35.43% 34.58%
No. of Shareholders 19,10021,36324,84924,49324,90425,43327,06726,30226,52725,36223,13623,069

* 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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Documents

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