Avadh Sugar's Q1FY23 Total Income Grew Sharply To Rs. 688 Cr: Check Stock Performance

Avadh Sugar & Energy Ltd released its Q1FY23 financial results showing sharp growth in its income. The company's Total Income stood at Rs. 688 crore, with a growth of 11% YoY over Rs. 619 crore in Q1 FY22, and its PBT stood at Rs. 30 crore, against Rs. 29 crore in Q1FY22. Additionally, Avadh's Ethanol dispatched at 268 lakh litres, grew by 41% YoY.

Commenting on the results, C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd. said, "The Indian Sugar Industry continues to be propelled by the positive market dynamics and structural changes like robust exports, sustainable ethanol demand and stable sugar realizations. A higher diversion towards ethanol production to meet the blending target of over 10% in 2022-23 is likely maintain the sugar demand and supply balance. At Avadh Sugar, our focus on improved and efficient operations helps us to adapt to the changing market dynamics and financial discipline. Furthermore, our continued investment in the Ethanol sector will help us deliver better margins and enhance stake holder's value."

Stock performance:

The current market price of Avadh Sugar closed at Rs. 514.70/share on NSE, fell by 0.17%, on August 11. In the last 1 month, its share price has fallen by 8.48%. In the past 6 months, it has fallen 17.05%, but in the last 1 year, its share price has surged by 15.42%. Additionally, on a long-term basis, its share price grew by 47.17% in the last 5 years.

The 52-week high level of this stock is Rs. 885, and the 52-week low level of this stock is Rs. 396.