Bajaj Hindusthan Posts Rs 4.38 Crore Profit in FY25
By Ankur Chandra | Updated at: May 31, 2025 10:41 PM IST
Lucknow, May 29, 2025 – Bajaj Hindusthan Sugar Ltd (BSE: 500032, NSE: BAJAJHIND) has announced the release of its financial results for the year ended March 31, 2025 (FY25). The company, which is India’s largest integrated sugar manufacturer, posted a standalone net profit of ₹4.38 crore.
Key Financial Highlights (Standalone)
| Particulars | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Revenue from Operations (₹ crore) | 5,544.35 | 6,076.56 | -8.75% |
| Total Income | 5,559.39 | 6,089.37 | -8.70% |
| Total Expenses | 5,555.01 | 6,185.27 | -10.18% |
| Net Profit / (Loss) (₹ crore) | 4.38 | (95.90) | — |
| EPS (₹) – Basic/Diluted | 0.04 | (0.74) | — |
| Total Assets (₹ crore) | 15,102.46 | 15,410.21 | -1.99% |
| Net Worth (₹ crore) | 4,360.87 | 4,492.98 | -2.94% |
Segment-Wise Performance
The Sugar segment contributed the largest share of revenue, followed by the Power and Distillery segments. However, the segment results before interest and tax showed a decline in the Distillery and Others segments.
Corporate Announcements
- Dividend: No dividend was recommended for FY25.
- AGM: The Board approved holding the 93rd Annual General Meeting of the company.
- Auditor’s Qualification: Statutory auditors raised concerns over non-provisioning of ₹699.60 crore towards Yield to Maturity (YTM) on Optionally Convertible Debentures (OCDs), which the company considers a contingent liability. The overdue instalment of ₹267.94 crore remains unpaid,which is impacting debt classification and net worth reporting.
Management Commentary
Ajay Kumar Sharma, Managing Director, stated:
“The company’s profitability, albeit modest, reflects operational resilience. With sustainable debt fully repaid, focus has shifted to improving cash flows, enhancing cane procurement, and optimising by-product realisations. Our ongoing discussions with lenders on debt restructuring are progressing.”
Strategic Outlook
- Debt Resolution: The company has provided a revised resolution plan to its lenders. The plan has classified ₹535.88 crore OCDs under non-current borrowings under scrutiny. The YTM obligation of ₹3,585.01 crore remains unrecognised pending plan approval.
- Ethanol and Sugar Outlook: Improved domestic sugar prices (~₹4,000/quintal) and ethanol blending targets (30%) support sectoral profitability.
- Cash Position: As of March 31, 2025, the company held cash and cash equivalents of ₹65.34 crore, up from ₹48.15 crore in FY24.
Auditor’s Note
As per the editor, the company did not make huge losses due to the unrecognisation of contingent YTM and overdue borrowings. In case they would have recognised, the company would have incurred a loss of ₹695.22 crore instead of the reported profit. Net worth would have been ₹775.86 crore, sharply lower than the reported ₹4,360.87 crore. The audit opinion remains qualified due to this non-compliance with Ind AS 1.
Conclusion
It is evident that Bajaj Hindustan Sugar has faced significant structural challenges, yet it has still demonstrated signs of financial discipline. Going forward, the results of its debt resolution and recovery of regulatory dues under the Sugar Industry Promotion Policy (₹1,893.51 crore pending) will be vital for its future.
REF: https://nsearchives.nseindia.com/corporate/BAJAJNEAPS1_29052025141448_SE_intimation_Outcome_of_Board_Meeting_29052025.PDF
