In FY24, the company strategically invested Rs 3,450 million in Anamika to derisk the business geographically
Shree Renuka Sugars Limited – one of India’s largest sugar and green energy (ethanol and renewable power) producers and a subsidiary of Wilmar Sugar and Energy Pte Ltd (formerly known as Wilmar Sugar Holdings Pte Ltd) Singapore – has reported its financial performance for the quarter and year ended March 31, 2024.
In FY24, the Company posted a 25 per cent growth in revenue from Rs 91,065 million to Rs 1,13,674 million. The company’s EBITDA for the year stood at Rs 7,560 million, an increase of 5 per cent over the last year of Rs 7,196 million. In FY24, the company strategically invested Rs 3,450 million in Anamika to derisk the business geographically. The company’s Profit Before Tax Loss for the year widened to negative Rs 4,618 Mn vs negative Rs 1,796 million over the last year.
In Q4FY24 company’s Revenue went up by 25 per cent from Rs 86,862 million to Rs 108,981 million. The company’s EBITDA for FY24 was sustained at last year’s levels – Rs 7,195 million. The refinery division delivered strong performance due to firm international sugar prices and high export volumes. The ethanol and Sugar segment was a drag due to restrictive government policy on Ethanol.