Zuari Industries Ltd – Investor Presentation Summary

Key Operational Highlights

  • Sugar production: 0.5 LQ (Lakh Quintals) in H1 FY27 (vs. Nil in H1 FY26)
  • Distillery operating days: 29 days in Q2 FY27 (vs. 78 days in Q2 FY26)
  • No subsequent tender in ethanol year (ESY) 2025-26 post Nov '25 annual tender
  • Crushing extended for 6 days (till 6 April 26) in H1 FY27 (vs Nil in H1 FY26)
  • Lower distillery power plant operation days owing to reduced distillery operation days

Key drivers of operational performance: Extended crushing period, reduced ethanol tender opportunities

Segment-wise Performance

Segment Revenue (Consolidated, Q2 FY27):

  • Sugar: Rs 194.94 Cr
  • Ethanol Plant: Rs 28.04 Cr
  • Real estate: Rs 24.81 Cr
  • Engineering services: Rs 26.47 Cr
  • Others: Rs 17.79 Cr

Segment Results/EBITDA (Consolidated, Q2 FY27):

  • Sugar: Rs 13.47 Cr
  • Ethanol Plant: Rs (1.22) Cr (loss)
  • Real estate: Rs (2.04) Cr (loss)
  • Engineering services: Rs 1.17 Cr
  • Others: Rs (0.35) Cr (loss)

Explanation of significant changes in segment performance: Ethanol segment impacted by reduced operating days, sugar segment benefited from extended crushing period

Financial Highlights

Standalone Performance (Q2 FY27):

  • Revenue: Rs 209.66 Cr
  • PAT: Rs 16.99 Cr
  • EPS: Rs 5.71
  • Profit Before Tax: Rs 24.89 Cr

Consolidated Performance (Q2 FY27):

  • Revenue from operations: Rs 276.85 Cr
  • PAT: Rs 184.73 Cr
  • EPS: Rs 62.21
  • Profit Before Tax: Rs 191.13 Cr

YoY comparison (Standalone Q2 FY27 vs Q2 FY26):

  • Revenue increased from Rs 204.51 Cr to Rs 209.66 Cr
  • PAT increased from Rs 3.13 Cr to Rs 16.99 Cr

QoQ comparison (Standalone Q2 FY27 vs Q1 FY27):

  • Revenue decreased from Rs 266.52 Cr to Rs 209.66 Cr
  • PAT improved from loss of Rs 9.48 Cr to profit of Rs 16.99 Cr

Drivers of financial performance: Improved operational efficiency, share of profit from associates and JVs (Rs 188.45 Cr in Q2 FY27)

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Not Specified

Capex & Cash Flow Health

Not Specified

Strategic & R&D Initiatives

Asset Light Business Model – Development Manager (DM) Focus implemented across real estate projects

Real Estate Project Developments:

  • Gangothri Tribhuja, Hyderabad (Apartments): 9.4 Acres, 2.8 Mn sqft saleable area, Mega project value, Launch 3 Sep 26
  • Nelamangala, Bangalore (Plots): 14.8 Acres, 0.35 Mn sqft saleable area, Significant project value, Launch 30 Aug 26
  • Panihati, Kolkata (Apartments, Senior Living & Retail): 11.8 Acres, 1.8 Mn sqft saleable area, Major project value, Concept design under finalization
  • Corporate Centre, Kolkata (Office Building): 0.7 Acres, 0.1 Mn sqft built up area, Significant project value, Demolition & D-Wall work in process

Industry Trends & Business Environment

Ethanol market: No subsequent tender in ESY 2025-26 post Nov '25 annual tender as against multiple subsequent tenders in ESY 2024-25

Management Commentary & Growth Outlook

Not Specified

Subsidiaries Performance

Key Subsidiaries Financial Performance (Q2 FY27):

  • Zuari Infra: Income Rs 51.9 Cr, EBITDA Rs 36.1 Cr, PBT Rs 11.9 Cr
  • Simon India: Income Rs 27.9 Cr, EBITDA Rs 2.6 Cr, PBT Rs 2.3 Cr
  • Zuari International: Income Rs 35.8 Cr, EBITDA Rs 11.5 Cr, PBT Rs (2.8) Cr (loss)
  • Zuari Management Services: Income Rs 10.0 Cr, EBITDA Rs (0.1) Cr (loss), PBT Rs (0.9) Cr (loss)
  • Zuari Finserv: Income Rs 5.0 Cr, EBITDA Rs 1.0 Cr, PBT Rs 0.1 Cr
  • Zuari Insurance: Income Rs 3.7 Cr, EBITDA Rs 2.5 Cr, PBT Rs 2.5 Cr

Joint Ventures Performance (Q2 FY27):

  • ZIAVPL: Income Rs 7.7 Cr, EBITDA Rs 4.0 Cr, PBT Rs 2.1 Cr
  • ZEBPL: Income Rs 90.4 Cr, EBITDA Rs (8.3) Cr (loss), PBT Rs (18.1) Cr (loss)

Strategic Investments

Value of strategic investments: Decreased from Rs 4,223 Cr to Rs 4,059 Cr (4%) from Q1FY27 to Q2FY27

Investment Portfolio (30-Sep-26):

  • Chambal Fertilizers & Chemicals Ltd.: 595 Lakh shares, Share price Rs 409, Value Rs 2,434 Cr
  • Zuari Agro Chemicals Ltd.: 135 Lakh shares, Share price Rs 220, Value Rs 297 Cr
  • Paradeep Phosphates Ltd.: 6 Lakh shares, Share price Rs 154, Value Rs 9 Cr
  • Texmaco Rail & Engineering Ltd.: 645 Lakh shares, Share price Rs 132, Value Rs 850 Cr
  • Texmaco Infrastructure and Holdings Ltd.: 393 Lakh shares, Share price Rs 119, Value Rs 469 Cr

Leadership

Board of Directors:

  • Saroj K. Poddar - Chairman
  • Jyotsna Poddar - Non-Executive Director
  • Akshay Poddar - Non-Executive Director
  • Athar Shahab - Managing Director
  • Alok Saxena - Executive Director
  • Vijay V. Paranjape - Independent Director
  • Suneet Maheshwari - Independent Director
  • Manju Gupta - Independent Director
  • Deepak Amitabh - Independent Director
  • Sanjeev Lall - Independent Director

Company Secretary: Yadvinder Goyal