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Aug 14, 2012, 05.30 PM IST
Shree Renuka Sugars, the country's largest sugar refiner is set to announce its results for the quarter ended June 2012. Analysts on an average expect the company to report a net loss of Rs 7.5 crore as against profit of Rs 187 crore in a year ago period.
Sales are expected to be flat at Rs 2,245 crore as against Rs 2,240 crore during the same period. Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall sharply to Rs 365 crore from Rs 432.4 crore and operating profit margin is seen falling by 300 basis points to 16.3% in the first quarter of FY13. Analysts feel the likely loss is mainly on account of interest and depreciation charges. The company had posted a loss of around Rs 73 crore in previous quarter as it had recorded interest cost of Rs 207 crore on EBITDA of Rs 253 crore in the March quarter. High gearing and slow de-leveraging remain the key concerns. Debt at the end of last quarter was at Rs 10,078 crore.
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