EID Parry stock dives near 2% despite decent quarterly numbers

9 Feb 2022 , 12:17 PM

E I D Parry Ltd., one of the leading sugar manufacturers in India has announced its results for the quarter and nine months ended December 2021. Despite the satisfactory performance, its stock was trading at Rs 469.30, down by Rs 8.20 or 1.72% against its previous closing price of Rs 477.50. So far, it has touched the day’s low of Rs468.

“The Company performed better than the corresponding quarter of the previous year on account of better realization and higher volume of exports and alcohol sales. The firming up of global sugar prices helped in higher exports. The debt reduction measures have helped in reduction of finance cost,” commented Mr. S Suresh, Managing Director on the company’s results.

The consolidated revenue from operations for the nine months ended December 2021 was Rs. 17,862 Crore as against Rs. 14,679 Crore for the corresponding 9M period, up by 21.68% YoY. Earnings before depreciation, interest, and taxes (EBITDA) and before exceptional items for the nine months ended 31st December 2021 stood at Rs. 1,922 Crore as compared to Rs. 1,897 Crore for the previous 9M period, up by 1.32% YoY.

The consolidated revenue from operations for Q3 FY’22 was Rs. 6,529 Crore, reflecting a growth of 39% YoY as compared to Rs. 4,701 Crore in the previous corresponding quarter.

EBITDA for the quarter ended 31st December 2021 stood at Rs. 656 Crore recording an increase of 17% YoY, as compared to Rs. 559 Crore in the previous corresponding quarter.

Consolidated profit after tax for Q3 FY’22 was Rs. 395 Crore compared to Rs. 245 Crore in Q3 FY’21. Its Consolidated PAT for 9M ended December 2021 was reported at Rs. 1,145 Crore as against Rs. 938 Crore in 9M period ended December 2020.