Here are the key highlights from the transcript of the Duaresh Sugar Industries Q4 FY25 earnings call:

1. Strong Q4 Performance:

• Profit Before Tax (PBT): ₹87.63 crores (up from ₹55.80 crores YoY).
• Profit After Tax (PAT): ₹46.33 crores (up from ₹22.89 crores YoY).
• Total income for the quarter: ₹459 crores (compared to ₹382 crores YoY).

1. Full Year Financials:

• Total income: ₹1,365 crores (down from ₹1,721 crores last year).
• PBT: ₹120 crores (lower than previous year).
• PAT: ₹75.30 crores.

1. Operational Highlights:

• Sugar sales: 5.79 lakh quintals in Q4, slightly higher than 5.69 lakh quintals YoY.
• Average sugar realization: ₹3,957 per quintal (₹200 higher YoY).
• Full-year sugar sales: 23.50 lakh quintals; realization: ₹3,834 per quintal.
• Sugar stock as of March 31, 2025: 15.79 lakh quintals valued at ₹3,727 per quintal (lower than last year’s stock).

1. Ethanol and Industrial Alcohol:

• Quarterly ethanol sales: over 3 crore liters (up from 2.11 crore liters YoY).
• Full-year ethanol sales: 9.44 crore liters (down from 9.94 crore liters last year).
• Ethanol produced directly from sugarcane juice: 2.69 crore liters (up from 2.09 crore liters).
• Impact of lower crushing (263 lakh quintals vs. 367 lakh in previous year) affected ethanol and molasses production.

1. Challenges Faced:

• Reduced crushing due to lower cane availability, impacted by red rot disease affecting yields and recovery.
• Red rot significantly affected crop yields and recovery rates.
• The company exercised tight financial discipline, maintaining a strong balance sheet with long-term loans of ₹147.45 crores.

1. Varietal Development & Future Outlook:

• Transitioning away from the older, disease-prone variety 0-238; new varieties like 118, 15021, and 14 are being adopted.
• Expectation of better yields and recovery in upcoming seasons.
• Anticipation of improved crushing and production volumes in FY26 and FY27, with a return to pre-2023 levels.

1. Market and Policy Environment:

• Global sugar production estimated at a deficit of ~5.46 million tons for 2024-25.
• Expectation of a surplus in 2025-26, with prices likely to remain firm around ₹4,000 per quintal.
• The government has allowed export of 1 million tons; ethanol blending target is expected to reach 20% by the end of the current season.
• Ongoing dialogue with government regarding ethanol pricing; no significant increase in ethanol prices yet.

1. Industry and Market Dynamics:

• Global demand-supply scenario indicates a deficit in 2024-25, with a potential surplus in 2025-26.
• Crushing days in 2024-25 are expected to be among the lowest in recent years (~24-25 days).
• Industry is awaiting monsoon and production estimates to finalize policies and production plans.

1. Management Outlook:

• The company believes the worst is behind, expecting better operational performance in the coming seasons.
• Focus on reducing costs, improving yields, and increasing ethanol production.
• The company’s ratings remain strong (AA- by RCRA, A1+ for commercial paper).

1. Closing Remarks:
   • The management expressed optimism about returning to normal momentum.
   • Thanks to investors for their support and confidence.
   • Anticipates better crushing, higher yields, and improved financial metrics in the upcoming seasons.

These highlights encapsulate the company’s recent performance, challenges faced, strategic initiatives, and outlook for the future.

Search Keyword: Dwarikesh Sugar share, Dwarikesh Sugar news, Dwarikesh Sugar update, Dwarikesh Sugar business, Dwarikesh Sugar conference call, Dwarikesh Sugar stock, Dwarikesh Sugar share price, Dwarikesh Sugar quarterly results, Dwarikesh Sugar investor update, Dwarikesh Sugar earnings call, Dwarikesh Sugar financials, Dwarikesh Sugar management update, Dwarikesh Sugar latest news, Dwarikesh Sugar stock analysis, Dwarikesh Sugar revenue, Dwarikesh Sugar profit, Dwarikesh Sugar EBITDA, Dwarikesh Sugar net income, Dwarikesh Sugar dividend, Dwarikesh Sugar AGM, Dwarikesh Sugar future outlook, Dwarikesh Sugar company update, Dwarikesh Sugar business model, Dwarikesh Sugar ethanol production, Dwarikesh Sugar annual report, Dwarikesh Sugar shareholding pattern, Dwarikesh Sugar promoter holding, Dwarikesh Sugar investor call, Dwarikesh Sugar market cap, Dwarikesh Sugar stock performance, Dwarikesh Sugar technical analysis, Dwarikesh Sugar fundamental analysis, Dwarikesh Sugar brokerage report, Dwarikesh Sugar buy rating, Dwarikesh Sugar stock recommendation, Dwarikesh Sugar expansion plan, Dwarikesh Sugar export business, Dwarikesh Sugar product portfolio, Dwarikesh Sugar industry news, Dwarikesh Sugar competitor analysis, Dwarikesh Sugar R&D update, Dwarikesh Sugar merger news, Dwarikesh Sugar joint venture, Dwarikesh Sugar investor relations, Dwarikesh Sugar share target, Dwarikesh Sugar NSE, Dwarikesh Sugar BSE, Dwarikesh Sugar company profile, Dwarikesh Sugar growth potential,