Avadh Sugar & Energy Limited (AVADHSUGAR)
₹995.40 +2.59% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Avadh Sugar's revenue was ₹779 Cr (+8.7% year on year, +16.1% on the previous quarter), and net profit ₹0.2 Cr (against a loss a year earlier); the operating margin was 4.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹779 | +8.7% | +16.1% |
| Operating profit | ₹36.5 | +30.2% | -69.6% |
| Net profit | ₹0.2 | from loss | -99.6% |
| EPS (₹) | 0.12 | from loss | -99.6% |
| Operating margin | 4.7% | — | — |
AVADHSUGAR delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 32.72% of the AVADHSUGAR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 36.67%. That is close to its usual level. It closed at a price band (circuit) on 2 sessions in about the last 20.
Delivery in the last 5 sessions: 35.8% · 33.5% · 33.6% · 34.3% · 32.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Avadh Sugar & Energy Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by MUFG Intime India Private Limited, the company's Registrar and Share Transfer Agent. It confirms that securities received for dematerialisation during the quarter were duly processed, confirmed/rejected, and listed on the exchanges within mandated timelines. This is a standard regulatory submission with no impact on operations or financials.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Pertains to the quarter ended September 30, 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 6, 2026
- Confirms mutilation, cancellation, and exchange listing of dematerialised share certificates within prescribed timelines
Avadh Sugar & Energy reported a 9% YoY revenue growth to ₹781.05 Cr for Q1FY27, primarily driven by a 10% increase in sugar sales volume and a 2% improvement in realizations. EBITDA grew significantly by 34% to ₹38.25 Cr, and the company achieved a marginal PAT of ₹0.24 Cr, turning around from a loss of ₹8.41 Cr in the same quarter last year. However, operational metrics showed some pressure with sugarcane crushing falling 57% YoY to 6.19 Lac Qtls due to lower cane availability. Debt levels remain elevated at ₹1,406 Cr, which is approximately 1.1x the company's market capitalization.
- Revenue increased 9% YoY to ₹781.05 Cr for the quarter ended June 30, 2026.
- EBITDA grew 34% YoY to ₹38.25 Cr, reflecting improved operating performance and cost management.
- PAT turned positive at ₹0.24 Cr compared to a net loss of ₹8.41 Cr in Q1FY26.
- Sugar sales volume rose 10% to 14.86 Lac Qtls with average realizations up 2% to ₹4,088 per Qtl.
- Total debt stands at ₹1,406 Cr as of June 2026, compared to ₹1,089 Cr in March 2026.
Avadh Sugar & Energy reported a turnaround in Q1 FY27, posting a net profit of Rs 0.24 Cr compared to a loss of Rs 8.41 Cr in the same quarter last year. Total income grew by 8.9% YoY to Rs 781.05 Cr, accounting for approximately 29% of its TTM revenue. EBITDA saw a significant improvement, rising 34% YoY to Rs 38.25 Cr, as the company's integrated distillery and ethanol operations provided stability against seasonal sugar cycle pressures.
- Total Income increased to Rs 781.05 Cr in Q1 FY27 from Rs 716.91 Cr in Q1 FY26
- EBITDA grew by 34% YoY to Rs 38.25 Cr compared to Rs 28.53 Cr in the previous year
- PAT turned positive at Rs 0.24 Cr vs a net loss of Rs 8.41 Cr in the year-ago period
- Maintained integrated operations with 325 KLPD ethanol capacity and 34,800 TCD crushing capacity
- EBITDA margin improved to 4.9% from 4.0% in the corresponding quarter last year
Avadh Sugar & Energy reported a marginal net profit of ₹0.23 Cr for Q1 FY27, recovering from a net loss of ₹8.41 Cr in the same period last year. Revenue from operations grew 8.7% YoY to ₹779.25 Cr, primarily supported by a 12.7% growth in the sugar segment. Despite the turnaround, profitability remains constrained by high finance costs of ₹22.30 Cr, which consumed nearly 85% of the total segment EBIT. The distillery segment continues to be the primary profit driver, contributing ₹20.75 Cr to the EBIT.
- Revenue from operations increased to ₹779.25 Cr from ₹716.61 Cr in the corresponding quarter last year.
- Net profit turned positive at ₹0.23 Cr compared to a loss of ₹8.41 Cr in Q1 FY26.
- Sugar segment revenue grew 12.7% YoY to ₹662.20 Cr, while distillery revenue dipped slightly to ₹157.41 Cr.
- Distillery segment EBIT improved to ₹20.75 Cr from ₹17.91 Cr YoY, showing better margins despite lower revenue.
- Finance costs remained high at ₹22.30 Cr, reflecting the company's significant debt burden of ₹1407 Cr.
Avadh Sugar & Energy Limited concluded its 12th Annual General Meeting on July 28, 2026, with all six resolutions passed by a near-unanimous majority of 99.99%. Key approvals included the adoption of FY26 financial statements and the declaration of a dividend for the fiscal year. Shareholders also ratified the appointment of two new Independent Directors, Mr. Amit Dalal and Mr. Rahul Chhabra, for five-year terms. The voting process saw participation from 12.68 million shares, representing approximately 63.35% of the total share capital.
- 12,681,893 total votes were polled, representing 63.35% of the company's 20,018,420 equity shares
- 99.9999% of votes cast (12,681,886 votes) were in favor of adopting the FY26 financial statements and declaring a dividend
- Two Independent Directors appointed for 5-year terms: Mr. Amit Dalal (until May 2031) and Mr. Rahul Chhabra (until June 2031)
- Total of 22,654 shareholders were eligible to vote as of the July 21, 2026, cut-off date
- Resolution to ratify Cost Auditor remuneration for FY27 was passed with 99.9999% assent
Avadh Sugar & Energy Limited concluded its 12th Annual General Meeting on July 28, 2026, where shareholders approved all proposed resolutions. A key outcome was the formal declaration of a 100% dividend amounting to Rs 10 per equity share for FY25-26. The company also confirmed the appointment of two Independent Directors, Amit Dalal and Rahul Chhabra, for five-year terms. With a TTM EPS of Rs 28.63, this dividend represents a payout ratio of approximately 35%.
- Approved a dividend of Rs 10 per equity share (100% of face value) for the financial year 2025-26
- Appointed Amit Dalal as Independent Director for a 5-year term effective from May 12, 2026
- Appointed Rahul Chhabra as Independent Director for a 5-year term effective from June 15, 2026
- Ratified the remuneration for the Cost Auditor for the financial year 2026-27
- A total of 72 members attended the meeting conducted via Video Conferencing
Avadh Sugar & Energy Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document confirms that for the quarter ended June 30, 2026, all share certificates received for dematerialization were processed, mutilated, and cancelled as per regulations. This certificate was issued by the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited. This is a standard administrative procedure with no impact on the company's financial health or market valuation.
- Quarterly compliance certificate for the period ending June 30, 2026
- Confirmation of dematerialization processing by MUFG Intime India Private Limited
- Filing submitted to exchanges on July 8, 2026
Avadh Sugar & Energy Limited has scheduled its 12th Annual General Meeting (AGM) for July 28, 2026. The agenda includes the adoption of FY26 financial statements, declaration of a dividend, and the appointment of two Independent Directors for 5-year terms. Additionally, the company seeks to ratify a remuneration of ₹1,92,500 for the cost auditor for FY27. This follows a fiscal year where the company generated ₹2,694 Cr in TTM revenue and ₹58 Cr in PAT.
- 12th Annual General Meeting scheduled for July 28, 2026, via video conferencing.
- Proposed appointment of Mr. Amit Dalal and Mr. Rahul Chhabra as Independent Directors for 5-year terms ending in 2031.
- Ratification of ₹1,92,500 remuneration for Cost Auditor Mr. Somnath Mukherjee for the financial year ending March 31, 2027.
- Re-appointment of Mr. Sukhvir Singh as Director; he drew a remuneration of ₹144.81 lakhs in FY25-26.
- Dividend declaration for the financial year ended March 31, 2026, is a key agenda item.
Avadh Sugar & Energy has scheduled its 12th Annual General Meeting (AGM) for July 28, 2026, to be held via video conferencing. The company has fixed July 17, 2026, as the record date to determine shareholder eligibility for the final dividend for FY 2025-26. Shareholders with unregistered email addresses are being notified via physical letters to access the Annual Report online. The dividend, if approved, will be paid within 30 days of the AGM.
- 12th Annual General Meeting scheduled for July 28, 2026, at 11:00 a.m. IST
- Record date for final dividend eligibility is fixed for July 17, 2026
- e-Voting period for shareholders runs from July 23 to July 27, 2026
- Dividend payment to be processed within 30 days from the date of the AGM
Avadh Sugar & Energy Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the release of financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared. This is a routine administrative procedure and does not reflect any change in the company's business operations or financial health.
- Trading window closure begins on July 1, 2026
- Closure is for the financial results of the quarter ending June 30, 2026
- Window to remain closed until 48 hours after the results declaration
- Applies to all Designated Persons and their immediate relatives
Avadh Sugar & Energy Limited has fixed July 17, 2026, as the record date to determine eligibility for a dividend of Rs. 10 per equity share for the financial year 2025-26. The dividend amount represents a 100% payout on the face value of Rs. 10 per share. The final payment is subject to shareholder approval at the upcoming Annual General Meeting scheduled for July 28, 2026. Shareholders must hold the stock before the ex-dividend date to be eligible for this payout.
- Record date for dividend eligibility set for Friday, July 17, 2026.
- Proposed dividend of Rs. 10 per equity share for FY 2025-26.
- Annual General Meeting (AGM) to be held on Tuesday, July 28, 2026.
- Dividend is applicable to equity shares with a face value of Rs. 10 each.
Avadh Sugar & Energy Limited has approved the appointment of Mr. Rahul Chhabra as an Independent Director for a five-year term starting June 15, 2026. Mr. Chhabra is a highly distinguished former civil servant who served as Secretary (Economic Relations) in the Ministry of External Affairs and held various ambassadorial roles. With an MBA from IIM and an MA in Economics from Delhi School of Economics, he brings significant economic and strategic expertise to the board. This appointment is subject to shareholder approval and strengthens the company's corporate governance profile.
- Appointment of Mr. Rahul Chhabra as an Independent Director for a term of 5 consecutive years starting June 15, 2026.
- Mr. Chhabra is a former Secretary in the Ministry of External Affairs and has served as High Commissioner to Kenya and Ambassador to Hungary.
- Educational background includes an MBA from IIM and an MA (Economics) from Delhi School of Economics.
- The appointment was approved by the Board of Directors via circular resolution on June 10, 2026.
SIL Investments Limited, a promoter group entity of Avadh Sugar & Energy Limited, has submitted its annual declaration under Regulation 31(4) of SEBI (SAST) Regulations. The filing confirms that the promoter, along with persons acting in concert, did not create any new direct or indirect encumbrances on their shareholding during the financial year ended March 31, 2026. This disclosure is a routine compliance requirement to ensure transparency regarding promoter share pledging activities.
- Declaration filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Covers the entire financial year period ending March 31, 2026.
- Confirms no additional pledges or encumbrances were made beyond those already disclosed to exchanges.
- The disclosure was formally submitted to BSE and NSE on April 7, 2026.
Avadh Sugar & Energy reported flat revenue of ₹2,694 crore for FY26, while PAT declined significantly to ₹57 crore from ₹88 crore in the previous year. Profitability was severely impacted by an 8% hike in the State Advisory Price (SAP) for sugarcane in Uttar Pradesh, which rose to ₹400/quintal. Despite higher production costs, the company saw a 10% growth in ethanol sales volumes and a 4% improvement in sugar realizations. The company also successfully expanded its Hargaon unit crushing capacity to 13,000 TCD to enhance operational efficiency.
- FY26 PAT decreased to ₹57 Cr from ₹88 Cr in FY25 due to margin compression.
- Sugarcane SAP increased by ₹30 per quintal (8% rise), leading to a decline in EBITDA to ₹226 Cr.
- Ethanol sales volume grew by 10% YoY to 849 lakh litres, driven by distillery integration.
- Average sugar realization improved by 4% YoY to ₹4,011 per quintal.
- Hargaon unit crushing capacity increased from 10,000 TCD to 13,000 TCD, now fully operational.
Avadh Sugar & Energy reported a weak set of results for Q4 FY26, with PAT declining 22% YoY to ₹56 crore despite revenue remaining relatively stable at ₹672 crore. The full-year FY26 performance saw a significant drop in profitability, with PAT falling to ₹57 crore from ₹88 crore in FY25, impacted by higher costs and lower cane yields. Despite the earnings pressure, the board has recommended a dividend of ₹10 per share. On the operational front, the company successfully expanded its Hargaon unit capacity to 13,000 TCD.
- Q4 FY26 PAT decreased to ₹56 crore from ₹72 crore in Q4 FY25.
- Full-year FY26 EBITDA fell to ₹226 crore compared to ₹280 crore in the previous year.
- Board recommended a dividend of 100% of face value, amounting to ₹10 per equity share.
- Hargaon unit crushing capacity increased from 10,000 TCD to 13,000 TCD for the 2025-26 season.
- Total income for FY26 grew marginally to ₹2,699 crore from ₹2,639 crore in FY25.
Financial Performance
Revenue Growth by Segment
For FY25, Sugar segment revenue grew 2.18% to INR 2,557.37 Cr. The Distillery segment revenue declined 17.24% to INR 485 Cr, and Co-Generation revenue declined 5.54% to INR 189.52 Cr. In Q2 FY26, total income was INR 670 Cr, up 5.68% from INR 634 Cr in Q2 FY25.
Geographic Revenue Split
The company operates 4 sugar mills in Uttar Pradesh and distributes products across 6 states. Specific percentage split per state is not disclosed.
Profitability Margins
Net profit margin declined from 4.75% in FY24 to 3.33% in FY25, a drop of 29.60% due to lower profit after tax. Operating profit margin decreased from 12.37% to 10.60% YoY.
EBITDA Margin
EBITDA in Q2 FY26 was INR 20 Cr (2.98% margin) compared to INR 36 Cr (5.67% margin) in Q2 FY25, representing a 44.4% decline in absolute EBITDA.
Capital Expenditure
The company completed the expansion of the Hargaon unit from 10,000 TCD to 13,000 TCD and de-bottlenecked the Seohara unit to 12,000 TCD for the 2025-26 season. Specific INR Cr values for these projects were not disclosed.
Credit Rating & Borrowing
The company reported a Debt Equity ratio of 1.24 in FY25, slightly improved from 1.28 in FY24. Interest coverage ratio declined from 4.09 to 3.26 YoY.
Operational Drivers
Raw Materials
Sugarcane is the primary raw material, sourced from approximately 2.9 lakh connected farmers.
Import Sources
100% of sugarcane is sourced locally from the state of Uttar Pradesh, India.
Key Suppliers
The company sources raw materials from a network of 2.9 lakh individual farmers rather than corporate suppliers.
Capacity Expansion
Current licensed crushing capacity is 34,800 TCD. Hargaon unit expanded by 3,000 TCD to reach 13,000 TCD; Seohara unit de-bottlenecked to 12,000 TCD. Distillery capacity is 325 KLPD and Co-gen is 74 MW.
Raw Material Costs
Raw material costs are heavily influenced by the State Advised Price (SAP) for sugarcane set by the UP government. A recent SAP hike is expected to significantly raise production costs and squeeze margins.
Manufacturing Efficiency
Sugar recovery rate was 10.80% in FY25. The company aims for higher efficiency through its 'Avadh Way' process-driven approach.
Logistics & Distribution
The company distributes products across 6 states; specific logistics costs as a percentage of revenue are not disclosed.
Strategic Growth
Growth Strategy
Growth is targeted through a 'Transformative Agenda' focusing on capacity expansion (Hargaon unit increase to 13,000 TCD), de-bottlenecking, and increasing ethanol blending in line with PSU OMC trends (targeting 15-20% blending).
Products & Services
Sugar, Spirits, Ethanol, Cogeneration (Power), and Sanitizers.
Brand Portfolio
Avadh Sugar & Energy Limited (part of the K.K. Birla Group/Birla Sugar).
New Products/Services
Sanitizers are produced as a by-product; ethanol production is being prioritized for blending programs.
Market Expansion
Expansion is focused on increasing crushing capacity and distillery output to meet rising ethanol demand from OMCs.
Market Share & Ranking
The company claims a top spot in India's sugar industry for efficiency and recovery rates over the past two years.
External Factors
Industry Trends
Industry is shifting toward ethanol; gross sugar production for 2025-26 is projected at 34.35 MMT with 3.40 MMT diverted to ethanol. Blending targets are moving from 12% toward 20%.
Competitive Landscape
Competes with other UP-based sugar mills; industry margins are currently pressured by SAP hikes and weak recovery.
Competitive Moat
Moat includes strategic location in UP (India's largest cane state), long-standing farmer relationships (2.9 lakh farmers), and integrated operations (sugar, distillery, power).
Macro Economic Sensitivity
Highly sensitive to government agricultural policies and ethanol blending mandates.
Consumer Behavior
Demand is driven by domestic sugar consumption and government mandates for green fuel (ethanol).
Geopolitical Risks
Primarily domestic risks related to Indian sugar export/import policies and domestic consumption mandates.
Regulatory & Governance
Industry Regulations
Operations are governed by the State Advised Price (SAP) for cane, Minimum Selling Price (MSP) for sugar, and UPERC power tariff regulations.
Environmental Compliance
Focus on energy-saving measures and environmental standards as part of the transformative agenda.
Risk Analysis
Key Uncertainties
Sugar price volatility, government-regulated SAP fixation, and fluctuations in sugar recovery rates (which dropped 44 bps in FY25).
Geographic Concentration Risk
High concentration risk with 100% of manufacturing facilities located in Uttar Pradesh.
Third Party Dependencies
Critical dependency on 2.9 lakh farmers for consistent sugarcane supply.
Technology Obsolescence Risk
Mitigated by de-bottlenecking and energy-saving technology implementations at Hargaon and Seohara.
Credit & Counterparty Risk
Debtors turnover improved to 50.67 in FY25, indicating healthy receivable management.
