Balrampur Chini declares distillery expansion with turnaround in Q1FY19

Balrampur Chini Mills reported its results for the quarter ended June 30, 2018 on Wednesday.

The company’s standalone revenue for the quarter came in at Rs 1002.54 crore, registering a decline of 2.2 per cent QoQ and 11.8 per cent YoY decline.
  
Its EBITDA for the quarter came in at Rs 129.38 crore as against the operating loss of Rs 8.19 crore in the previous quarter and Rs. 206.72 crore in the corresponding quarter last year. The EBITDA margin for the quarter stood at 12.9 per cent.

The PAT for the quarter came in at Rs. 73.58 crore as against net loss of Rs. 42.69 crore in the previous quarter and profit of Rs. 120 crore in the corresponding quarter last year.
  
The company has also announced capacity expansion of its distillery business by 160 KLPD from its current capacity of 360 KLPD by investing Rs. 207 crore. The existing capacity utilisation of the distillery business stood at 80-85 per cent. The expansion is likely to be completed within 24 months. Also, the expansion project will be funded through a mix of debt and equity in the ratio of 68:32.

During Q1FY19, Sugar realisations stood at Rs 28.42 per kg compared to Rs 36.65 per kg in Q1FY18. Further, sugar production during the quarter stood at 24.02 lakh quintals as compared to 5.91 lakh quintals during Q1FY18. Also, the cane crushed during the quarter was 216.15 lakh quintals as compared to 48.87 lakh quintals during Q1FY18.