The Board of Directors of Magadh Sugar & Energy Limited (MSEL) at its meeting held on May 14, 2024, took on record the Financial Results for the Quarter and Year ended March 31, 2024.
Financial & Operational Highlights:
Q4FY24
-Total Income in Q4FY24 at Rs 288 Cr as against Rs 299 Cr in Q4FY23.
-EBITDA in Q4FY24 at Rs 81 Cr as against Rs 69 Cr in Q4FY23.
-PAT in Q4FY24 at Rs 47 Cr as against Rs 35 Cr in Q4FY23.
FY24
-Total Income in FY24 at Rs 1098 Cr as against Rs 955 Cr in FY23.
-EBITDA in FY24 at Rs 214 Cr as against Rs 133 Cr in FY23.
-PAT in FY24 at Rs 117 Cr as against Rs 50 Cr in FY23.
-The Board of Directors has recommended a Dividend of Rs 15 per share on Face Value of Rs 10 each which includes a special one time dividend of Rs 5/- per share
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said: “The resilience of the Indian Sugar Industry shines through, steadfast in the face of challenges like rising sugarcane prices in Bihar and evolving ethanol procurement directives. Our unwavering dedication to sustainable development and a comprehensive approach remains unwavering. As we look ahead, the industry is primed for growth in the forthcoming year, with forecasts pointing towards an upsurge in production. This upswing is set to bolster closing stocks, opening doors to broader avenues for export. At Magadh Sugar & Energy Ltd, we are pleased to report that our expansion plans remain on track. We have increased the capital outlay for capacity enhancements and other improvements at our facilities, underscoring our strong commitment to growth. We remain dedicated to creating value for all our stakeholders. Our team continues to work tirelessly to deliver excellence, drive innovation, and ensure the long-term success of our company.”
