Dwarikesh Sugar saw strong revenue growth in Q1 as the sugar business revenues jumped while margins were also strong.
In an interview to CNBC-TV18, Vijay Banka, Wholetime Director and CFO of Dwarikesh Sugar Industries spoke about the results and his outlook for the company.
Q1 has been a decent quarter for us, we did aggressive selling of sugar, which is why we have seen a healthy margin from sugar segment. The season extended for nearly a month during this quarter, so we are seeing some good margins coming from the power segment as well, he said.
Q2 is typically the most challenging quarter for the sugar industry. Sugar sales so far are good, prices are good, so we expect good trend to continue, he added.
We are carrying 9.8 lakh quintals of sugar currently, which is valued at Rs 2,917 per quintal, our valuation is among the lowest in the industry because our recoveries are the best in North India, said Banka.
Sugar prices are good and sugar industry is in a sweet spot just now. We have all the reasons to be optimistic that good trends will continue, he further mentioned.
We are hopeful of better recoveries, he said.
For full interview, watch accompanying video...
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