EID Parry India Ltd

📊 EID Parry India: Sugar Market Trends & Q1 FY26 Performance Insights

- Global sugar oversupply: 2 MMT raw sugar & 1.1 MMT white sugar surplus in 2025, plus 1.2 MMT white sugar surplus expected in H1 2026.

- Raw sugar prices dropped from $0.215/lb (Feb) to $0.16/lb currently.

- India’s sugar production (mid-July): 25.7 MMT with 14 mills still operational.

- Domestic sugar consumption: 27.9 MMT; 0.6 MMT exports & 3.4 MMT diverted to ethanol.

- Closing sugar stocks in India: 5.5 MMT (~2.5 months of demand).

- State-wise output: UP (9.24 MMT), Maharashtra (8.09 MMT), Karnataka (4.5 MMT), Tamil Nadu (0.5 MMT).

- EID Parry Q1 FY26 sugar ops: Crushed 2.11 LMT (vs 1.93 LMT YoY), recovery rate 8.02% (vs 8.6% YoY), produced 17,000 MT sugar (vs 16,000 MT YoY).

- Sugar sales: 84,000 MT (domestic only); avg. selling price ₹41.99/kg (vs ₹38.60/kg YoY).

- Cane cost rose to ₹3,844/MT (vs ₹3,491/MT YoY) due to FRP hike.

- Consumer Products Group revenue fell 11% YoY to ₹192cr (lower sweetener quota), but staples grew 33%.

- Distillery segment sold 413 LL (vs 390 LL YoY), revenue at ₹296cr (vs ₹263cr YoY).

- Refinery ops: Revenue at ₹908cr (vs ₹1,213cr YoY), PBT improved to ₹67 lakhs (vs loss of ₹6.79cr YoY).

- Short-term debt up to ₹461cr (vs ₹220cr YoY) due to molasses procurement & working capital needs.

- No immediate capacity expansion; focus on post-ethanol capex consolidation.

- Future priorities: Biofuels (ethanol, sustainable aviation fuel) & Consumer Products Group growth.