MSEL posts Total Income of Rs 546.37 cr

12 Feb 2019

The Board of Directors of Magadh Sugar & Energy Limited (MSEL) at its meeting took on record the Unaudited Financial Results for the quarter ended 31st December, 2018.
The company posted a Total Income of Rs 546.37 crore, EBIDTA of Rs 60.53 crore, PBDT of Rs 28.14 crore and PAT at Rs 8. 52 crore. Commenting on the results, C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said:
“Although there is a downward revision of the initial estimates, India will still be producing significantly more sugar that it’s domestic consumption. Consequently sugar prices remained under pressure both domestically and internationally. The Central Government took a number of proactive steps to address the issue of mounting cane arrears by reimposing the monthly release mechanism, production subsidies and encouraging exports. These initiatives have helped to stop the continuous slide in sugar prices. The new Bio Fuel Policy of ethanol blending will also have a positive impact on the demand supply scenario of sugar in India.
I am happy to state that Magadh Sugar is focussed on the highest levels of efficiency and is recording the highest recoveries in Bihar. We are well placed to reap the benefits of our efficiency improvement schemes when the sugar cycle turns. (EOIC)