Zuari Industries Reports Robust Performance in Q3 FY25 Earnings

The Sugar, Power & Ethanol (SPE) division saw substantial growth, with early operational commencement and enhanced efficiency leading to higher sugar production of 61 lakh quintals (LQ), a 69.4 percent increase from 36 LQ in Q3 FY24.

February 14, 2025. By Aishwarya

Zuari Industries has published strong financial results for the quarter ending December 31, 2024.

The company demonstrated significant growth, particularly in its Sugar, Power & Ethanol (SPE) division and subsidiaries.

For Q3 FY25, standalone revenue from operations reached INR 204.8 crore, marking a 103 percent growth compared to Q3 FY24. Standalone EBITDA stood at INR 37.7 crore. On a consolidated basis, revenue from operations increased to INR 235.1 crore, up 103 percent year-on-year, while EBITDA was INR 46.9 crore.

The Sugar, Power & Ethanol (SPE) division saw substantial growth, with early operational commencement and enhanced efficiency leading to higher sugar production of 61 lakh quintals (LQ), a 69.4 percent increase from 36 LQ in Q3 FY24. Sugar sales surged by 150 percent to 3.5 LQ from 1.4 LQ in Q3 FY24. Ethanol production almost doubled to 7,787 KL from 3,988 KL in Q3 FY24, while power exports grew by 79 percent to 341 lakh units (LU). Sugar recovery improved to 9.86 percent, compared to 9.74 percent in the previous year.

Zuari Infraworld India Ltd (ZIIL) made notable progress in real estate development. The St. Regis Residences Project in Dubai reached 58 percent completion, ahead of schedule. Additionally, 50 percent of Phase IV of the Plotted Development at Zuari Garden City, Mysore, has been booked.

Simon India Limited (SIL), the company's EPCM subsidiary, demonstrated strong growth, with revenue increasing to INR 4.8 crore in Q3 FY25 from INR 1.3 crore in Q2 FY25. Zuari Finserv Ltd. (ZFL) posted a 40 percent growth in revenue, reaching INR 15.1 crore for the nine-month period of FY25. Zuari Insurance Brokers Limited (ZIBL) recorded a 31 percent year-on-year increase in total income for the same period.

The company’s bioenergy joint venture, Zuari Envien Bio-Energy Pvt Ltd (ZEBPL), achieved 58 percent project completion.

Zuari Industries successfully reduced borrowing costs through refinancing and effective cash flow management.

Commenting on the results, Athar Shahab, Managing Director of Zuari Industries Ltd, stated, “Zuari Industries has demonstrated resilience and operational excellence in Q3 FY25, delivering significant growth across our key business verticals. Our Sugar, Power & Ethanol (SPE) division has outperformed expectations, with an earliest-ever crushing season start enabling a significantly higher production of sugar. Our sugar sales were higher by 150 percent, owing to higher quota allocation. The division nearly doubled the ethanol production and achieved record power exports. These achievements reflect our commitment to operational efficiency, technological upgrades, and strong farmer relationships coupled with digital transformation initiatives. Our subsidiaries and joint ventures continue to gain momentum. Zuari Infraworld India Ltd is making steady progress in real estate development, with St. Regis Residences in Dubai now 58 percent complete, ahead of schedule. Simon India Limited has expanded its EPC capabilities, registering strong revenue growth. Our financial services businesses—Zuari Finserv and Zuari Insurance Brokers—have delivered solid gains, reinforcing our strategy of building a diversified and future-ready portfolio. Our bioenergy joint venture, Zuari Envien Bio-Energy Pvt Ltd, is progressing as planned, with 58 percent project completion and commissioning expected by mid-2025. On the financial front, we have successfully lowered borrowing costs through refinancing and better cash flow management. As we enter the final quarter of FY25, our focus remains on scaling our core businesses, driving efficiency, and capitalizing on emerging opportunities.”

Tags:

Ethanol manufacturing

Biofuels

Zuari Envien Bio-Energy

Zuari Finserv

Biogas