EID Parry India LimitedAgriculture & AlliedEIDPARRY
Q1 FY27 earnings callEID Parry India Limited
The company navigated a quarter with restructuring of its CPG segment, closure of a refinery, and a focus on working capital and cost efficiencies amid a recovering sugar price environment.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Sugar Sales Volume | 0.89 LMT | up from 0.56 LMT | |
| Sugar Revenue | Rs. 410 crores | up from Rs. 347 crores | |
| Average Sugar Selling Price | Rs. 40.02 per kg | down from Rs. 40.97 | |
| CPG Turnover | Rs. 94 crores | down from Rs. 188 crores | |
| Nutra Turnover (Consolidated) | Rs. 61 crores | up from Rs. 27 crores |
Financials
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹8,720.35 Cr+12.2% YoY-6.5% QoQ | ₹415.57 Cr+91.9% YoY-29.8% QoQ | ₹10.97+64.7% YoY-36.3% QoQ |
| Q2 FY25 | ₹9,330.35 Cr+3% YoY+38.3% QoQ | ₹591.66 Cr-24.3% YoY+161.9% QoQ | ₹17.22-32.4% YoY+234.4% QoQ |
| Q1 FY25 | ₹6,746.79 Cr-4% YoY+21.4% QoQ | ₹225.87 Cr-30.5% YoY-23.3% QoQ | ₹5.15-16% YoY-58.5% QoQ |
| Q4 FY24 | ₹5,557.04 Cr-19% YoY-28.5% QoQ | ₹294.30 Cr+2.6% YoY+35.9% QoQ | ₹12.41+23.1% YoY+86.3% QoQ |
| Q3 FY24 | ₹7,770.14 Cr-21.6% YoY-14.2% QoQ | ₹216.52 Cr-55% YoY-72.3% QoQ | ₹6.66-52.9% YoY-73.9% QoQ |
TL;DR
- Sugar revenue increased due to higher sales volume despite lower production.
- CPG division intentionally reduced revenue to focus on margin-accretive products, targeting quarterly breakeven in 4-5 quarters.
- Nutraceutical business grew, led by the US segment, with an EBITDA margin target of 12%-15%.
- PSRIPL refinery operations ceased; Rs. 665 crores infused to settle liabilities.
- Cane availability in Tamil Nadu and Andhra Pradesh is a concern, potentially leading to a flat or 5% lower crush.
- Management is focused on reducing debt and improving working capital efficiency.
Said on the call
“Our contribution margin pool, the absolute margin pool, however, has grown very well as we have focused on more margin accretive products and a margin accretive operating model into the market.”
From the Q&A
| Topic | What management said |
|---|---|
| CPG Division | Revenue drop is intentional; focus is on margin-accretive products with a target for quarterly breakeven in 4-5 quarters. New jaggery plant to be commissioned in 6 months, expected to eventually contribute ~Rs. 100 crores turnover. |
| Nutraceutical Margins | Steady-state EBITDA margin target is 12-15%, contingent on building more scale, particularly from the US (Valensa) business. |
| Cane Availability | Cane availability in Tamil Nadu and Andhra Pradesh is a macro concern; a flat or ~5% lower crush is expected in these geographies for the 2026-27 season. |
| PSRIPL Refinery Closure | Operations ceased; Rs. 665 crores (Rs. 610 cr + Rs. 55 cr loan) infused to settle bank liabilities. Asset sale prospecting is underway, but clearances are pending. |
| Debt and Working Capital | Standalone debt as of June 30 is ~Rs. 150 crores long-term and ~Rs. 980 crores short-term. Management has a 'ruthless focus' on improving working capital and reducing debt. |
| Sugar vs Ethanol Production | Current high sugar prices favor producing more sugar, but committed ethanol volumes to OMCs must be considered to avoid penalties. |
Guidance
- CPG quarterly breakeven expected in 4-5 quarters.
- Nutra business is expected to achieve its highest ever revenue this year.
- Steady-state EBITDA margin for Nutra is likely between 12% and 15%.
- Management expects to strengthen the balance sheet by March '27 and March '28.
- Plans to dispose of non-core land parcels in FY '27.
Source
Summary written from the transcript filed by EID Parry India Limited for the call held on 13 Aug 2026; published 20 Aug 2026, 13:16 IST.