Zuari Industries announce financial results; improves EDITDA by 21%

Gurugram based sugar and ethanol conglomerate Zuari Industries Limited has released its financial results for the fourth quarter and full fiscal year ending March 31, 2024. The company reported a total operational income of approximately Rs. 283 crore for the quarter ending March 2024, down from Rs. 342 crore in the same period in 2023.

Zuari said that the quarterly net profit was around Rs. 63 crore in March 2024, compared to Rs. 102 crore in March 2023.

Zuari Industries said that basic and diluted earnings per share (EPS) decreased to Rs. 21.35 in March 2024, from Rs. 34.34 in March 2023. For the full fiscal year, the company’s net profit increased to Rs. 712 crore for the year ending March 2024, compared to Rs. 309 crore in the previous year.

However, total operational income declined to Rs. 1,067 crore in the year ending March 2024, down from Rs. 1,137 crore in the prior year.

Zuari Industries achieved the standalone revenues of Rs 900.8 Cr for the year ended March 31, 2024. EBITDA for the Company stood at Rs 235.4 Cr recording a healthy y-o-y growth of 21%, on the back of higher sugar recovery, monetization of land parcels, reduction in finance costs and implementation of digital initiatives.

The company also concluded the merger of its 100% subsidiary, Zuari Sugar and Power Limited (ZSPL) with itself.

Zuari’s Sugar, Power & Ethanol (SPE) division emphasizes the production and distribution of both sugar and green power, and fuel. The SPE Division operates an integrated, state-of-the-art manufacturing facility at Gobind Sugar Mills-Aira, located about 150 km from Lucknow, Uttar Pradesh. This facility produces high-quality sugar products under the ‘Zuari’ brand.

The company serves approximately 60,000 farmers, accessing around 178,000 farm fields (about 50,000 hectares) of sugarcane cultivation spread across three major districts. The facility caters to both bulk and retail markets.