Recovery trends are pretty stable and encouraging: Dwarikesh Sugar

Dwarikesh Sugar Industries posted a weak set of earnings in Q3 as the sugar business posted a loss but the co-gen business was stable.

In an interview with CNBC-TV18, Vijay Banka, Wholetime Director and CFO, Dwarikesh Sugar Industries spoke about the results and his outlook for the company.

The loss of the sugar segment for the quarter is mainly because we have sold stock which was produced in this fiscal which was obviously a high-value stock that we produced, vis-à-vis the stock that we sold in the corresponding quarter last year, he said.

The molasses prices have also been under pressure, he added.

The prices of sugar have come down because of needless speculation and unnecessary phobia about the possible estimated production for the season 2018-2019, said Banka.

Our recovery trends are pretty stable and encouraging, he further mentioned.

On inventory he said, it is valued at about Rs 3,250.

For full interview, watch accompanying video...