BENGALURU (Reuters) – India’s Dalmia Bharat Sugar and Industries reported a flat third-quarter profit on Friday as weak sales of its mainstay – refined sugar – offset strong demand in the distillery business.
Consolidated net profit came in at 649.2 million rupees ($7.83 million) for the quarter ended Dec. 31, compared with 649.1 million rupees a year earlier.
The company, which counts Britannia, Dabur and United Breweries among its clients, said its revenue from operations slipped 2.7% to 5.84 billion rupees.
For further results highlights, click (nFWN3EN10N)
KEY CONTEXT
India, the world’s second-largest sugar producer, witnessed sugar output and supply disruptions in November and December last year due to unseasonal rainfall in key cane-growing states of Maharashtra and Karnataka.
This hit sales of refined sugar makers, including Dalmia Bharat Sugar and its peers Dwarikesh Sugar and Dhampur Sugar Mills.
PEER COMPARISON
Valuation (next 12 months) Estimates (next 12 months) Analysts’ sentiment
RIC PE EV/EBITDA Price/ Revenue Profit growth Mean No. of Stock to Div
Sales growth rating* analyst price yield
s target** (%)
Dalmia Bharat Sugar and 9.26 4.70 NULL 12.48 NULL Buy 1 0.74 1.00
Industries
Balrampur Chini Mills 13.53 8.72 3.59 11.92 6.32 Buy 4 0.80 1.09
Dwarikesh Sugar Industries 12.87 5.54 NULL -0.13 -0.59 Buy 3 0.79 2.37
Dhampur Sugar Mills 8.18 NaN 3.60 NULL NULL Null 0 0.76 1.92
* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
OCTOBER-DECEMBER STOCK PERFORMANCE
— All data from LSEG
— $1 = 82.88 rupees
(Reporting by Manvi Pant and Hritam Mukherjee in Bengaluru; Editing by Sohini Goswami)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.