• Financial performance: Revenue grew by 6.5% while EBITDA declined by 22% and margins dropped below 18%, driven by a ₹30 per quintal UP sugarcane price hike and unrevised juice-based ethanol prices.
• Sugar pricing outlook: Sugar is currently selling between ₹41–42.5 per kg with scope for a ₹1–2 increase aiding future profitability, though juice-based ethanol production remains unviable without upward price revisions.
• Debt position: Seasonal short-term debt of ₹2,100–2,200 crore will reduce to zero by October, while ₹900 crore of the ₹1,000 crore long-term debt is allocated to polylactic acid and eligible for a 5% interest subvention.
• Fundraising plans: The company approved a ₹450 crore preferential issue, including a 43% contribution (about ₹193 crore) from promoters, to fund general corporate purposes, capex, and a new lacto-gypsum plant by June.