Sri Sarvaraya Sugars Limited has released its results for FY24

06 September 2024

• Revenue and Profitability- The company's revenue grew by 18.4%, rising from Rs. 816 cr. in FY23 to Rs. 966 cr. in FY24, driven by increase in sale of aerated waters and soft drinks. This led to a significant 30.9% increase in profits, from Rs. 48 cr. in FY23 to Rs. 62 cr. in FY24, which in turn boosted the EPS from Rs. 157 in FY23 to Rs. 205 in FY24.
• Financial Position- The company's total asset base increased by 10.3%, from Rs. 817 cr. in FY23 to Rs. 901 cr. in FY24, mainly due to a 47.7% increase in property, plant and equipment. On the other hand, total equity grew from Rs. 369 cr. in FY23 to Rs. 425 cr. in FY24, driven by an increase in general reserve resulting from higher retained earnings.
• Future Prospects- The company is optimistic about the distillery division's growth, supported by the ethanol blending program. It plans to set up a 150 KLPD Grain-Based Ethanol plant at its Chelluru site to supply Oil Marketing Companies and support the E20 mandate by 2025. Meanwhile, the beverage division is introducing new brands and packaging to adapt to changing consumer preferences in the soft drinks market.