Q3 2026 Zuari Industries Ltd Earnings Call Transcript
Key Points
- Zuari Industries Ltd (BOM:500780) achieved the highest ever Q3 cane crush at 67.28 lakh quintals, surpassing last year's 60.7 lakh quintals.
- The company reported more than 100% capacity utilization in its sugar operations, which is unusual in the industry.
- Ethanol sales increased by 17.7% year-on-year, supported by a 4.8% rise in production.
- Zuari Industries Ltd (BOM:500780) has successfully entered the Bangalore real estate market, expanding its DM projects.
- The company is actively working on deleveraging, with expected inflows from the Dubai project and an associate company to significantly reduce external debt.
- Sugar sales were slightly lower than the previous year due to government-imposed quotas.
- Ethanol prices have remained stagnant, negatively impacting profitability.
- There is a significant overcapacity in the ethanol industry, posing a macroeconomic concern.
- The value of listed strategic investments decreased slightly due to market movements.
- Regulatory challenges in Goa are hindering the monetization of land holdings, affecting deleveraging plans.
Ladies and gentlemen, good day and welcome to the Zuari Industries Limited Q3 FY26 earnings conference call. (Operator Instructions)
I would not have the conference over to Ms. Darshni Desai from MUFG Intime. Thank you and over to you, ma'am.
Thank you. Good morning, everyone and I extend a very warm welcome to all participants on Q3 FY26 Earnings Conference Call of Zuari Industries Limited. Today on this call, we have Mr. Athar Shahab, Managing Director, Mr. Nishant Dalal, Chief Financial Officer and Company Secretary, Mr. Yadvinder Goyal.
Before we begin this call, I would like to give a short disclaimer. This call may contain some forward-looking statements which are completely based upon our beliefs, opinions and expectations as of today. These statements are not guarantees of our future performance and involve unforeseen risks and uncertainties. With this, I handover the call to Athar Shahab ji. Over to you sir. Thank you.
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