Avadh Sugar & Energy Limited

74 MW

anol and Power. Capacity Utilisation 34,800 TCD Crushing Capacity 325 KLPD Distillery Capacity 74 MW Co-Gen Capacity Integrated Operations Strategic Location Patronage of K.K. Birla Group Healt

40%

oat (%) Free Float Market Cap (Rs Cr) Shares Outstanding (Cr) Industry 540649 AVADHSUGAR 939 40% 372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promot

2%

(Rs Cr) Shares Outstanding (Cr) Industry 540649 AVADHSUGAR 939 40% 372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promoters 60% Promoters NRI / Forei

rs 5

Shares Outstanding (Cr) Industry 540649 AVADHSUGAR 939 40% 372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promoters 60% Promoters NRI / Foreign Nationa

32%

Industry 540649 AVADHSUGAR 939 40% 372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promoters 60% Promoters NRI / Foreign Nationals Individual / HUF F

1%

939 40% 372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promoters 60% Promoters NRI / Foreign Nationals Individual / HUF FII / FPI Others 7 Business

rs 60

372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promoters 60% Promoters NRI / Foreign Nationals Individual / HUF FII / FPI Others 7 Business Updates Multi

rs 7

gn Nationals 1% Promoters 60% Promoters NRI / Foreign Nationals Individual / HUF FII / FPI Others 7 Business Updates Multi-Engine Model Mitigating Industry Cyclicality Procurement Excellence Sugar

5%

Q4FY26 Q4FY25 FY26 FY25 • Revenue for the year remain flat on account of lower sugar sale by 5%, due to lower sugar production in sugar season 2025-26, which is supported sugar positively wit

10%

season 2025-26, which is supported sugar positively with realisation and higher ethanol sale by 10%. higher • EBITDA for the year declined 35% due to higher increased production sugarcane price

35%

sitively with realisation and higher ethanol sale by 10%. higher • EBITDA for the year declined 35% due to higher increased production sugarcane price by Rs. 30 per quintal without equivalent inc

Rs. 30

igher • EBITDA for the year declined 35% due to higher increased production sugarcane price by Rs. 30 per quintal without equivalent increase in sugar prices. costs arising from PAT (Rs Cr) Sugar

“9 Financial Snapshots Revenue (Rs Cr) EBITDA (Rs Cr) 2694 2636 280 226 121 149 671 679 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 • Revenue for the year remain flat on account of lower sugar sale by 5%, due to lower sugar production in sugar season 2025-26, which is supported sugar positively with realisation and higher ethanol sale by 10%.”

“Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 EBITDA excluding Exceptional item.”

“10 Segment Overview Particular Revenue* (Rs Cr) Sugar Distillery Co-gen & Others 2,572 2,557 530 485 725 712 116 141 243 207 112 106 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 EBIT (Rs Cr) 106 102 78 160 63 42 13 19 34 20 14 15 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 * Including inter segment revenue.”

“11 Sugar Segment Overview (1/2) Sugar Operational Metrics – Q4 & FY26 Sugar Produced (Lac Qtls.) Sugar Sold (Lac Qtls.) Inventory (Lac Qtls.) 48.36 45.73 29.61 27.85 48.86 50.97 32.75 11.39 10.79 32.25 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 Mar-26 Mar-25 Sugarcane Crushing (Lac Qtls.) Average Recovery (%) • Sugar Sale down by 4% in current Financial Year.”

“• Average Recovery slightly higher in Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 • Overall cane crushing remains lower by 1% due to lower yield.”

“Opening stocks for SS 2026-27 will be thin.”

“• Policy support underpinning demand: Continued thrust under the Ethanol Blending Programme and India’s 20% blending target is driving sustained structural demand for ethanol.”

“15 Distillery and Co-Gen Segment Overview (1/2) Ethanol Produced (Lac Ltrs.) Ethanol Sold (Lac Ltrs.) Ethanol Inventory (Lac Ltrs.) 893 736 849 772 109 65 263 278 182 223 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 Mar-26 Mar-25 Power Production (Lac Units) Power Sold to Grid (Lac Units) 2,130 2,117 1,175 986 1,078 1,115 596 662 Q4FY26 Q4FY25 FY26 FY25 Q4FY26 Q4FY25 FY26 FY25 • Ethanol sale volumes registered a growth of 10% in current Financial Year.”

“• Ethanol blending has reached 20% as on 31 March 2026, on course to achieve target of 20%.”

“1455 Crores 22 Cash Flow Highlights Particulars Net Cash Generated From Operating Activities Cash Used in Investing Activities Cash Used in Financing Activities Net (Decrease) / Increase In Cash and Cash Equivalents Cash and Cash Equivalents at the beginning of the year Cash and Cash Equivalents at the end of the year FY26 157 (98) (61) (2) 4 2 Rs.”

Credit Rating

1

Outlook

1

Recent Developments in Uttar Pradesh

1

Credit Rating

A+ 5 Robust Capacity, Integrated Operations, Located Strategically 1. Seohara (West UP) 2. Rosa (Central UP) 3. Hargaon (Central UP) 4. Hata (East-UP) Particulars Hargaon Seohara Hata Rosa Total Sugar 13,000 10,000 7,000 4,800 34,800 Distillery 200 125 - - 325 At Hargaon - The implementation of the increase in sugarcane crushing capacity from 10,000 TCD to 13,000 TCD, along with improvements in energy efficiency through reduced steam consumption at the Hargaon Unit, has been completed and is operational from the start of the current Sugar Season 2025– 26. 6 Shareholders Information As on 31 March 2026 Shareholder Information Shareholding Pattern BSE Ticker NSE Symbol Market Cap (Rs Cr) Free-float (%) Free Float Market Cap (Rs Cr) Shares Outstanding (Cr) Industry 540649 AVADHSUGAR 939 40% 372 20 Sugar FII / FPI 2% Others 5% Individual / HUF 32% NRI / Foreign Nationals 1% Promoters 60% Promoters NRI / Foreign Nationals Individual / HUF FII / FPI Others 7 Business Updates Multi-Engine Mod

Outlook

• India’s Sugar output reached 27.48 MMT as of 15th April 2026, up by 8% YOY. • Maharashtra and Karnataka have grown up 23% and 19% respectively YOY. • For 2025–26 crushing season, the State Advisory Price (SAP) of sugarcane in Uttar Pradesh has been increased by Rs. 30 per quintal, raising the price to Rs. 400 per quintal for early-maturing varieties and Rs. 390 per quintal for general varieties, reflecting an over 8% rise compared to the previous season. • Higher sugar realization with higher recovery has partially mitigated the impact of increase sugarcane price. • Exports remained subdued due to softening global sugar prices. Watchpoints & Strategic Priorities • Industry-wise demand to revise MSP of Sugar from Rs. 3100 per qtls. Timely revision critical for Industry liquidity and Farmer payments. • SS 2025-26 output unlikely to exceed 28 MMT below domestic consumption of 29 MMT. This marks a second consecutive deficit year. Opening stocks for SS 2026-27 will be thin. Inventory mana

Recent Developments in Uttar Pradesh

• Production moderation amid seasonal volatility: UP sugar output declined ~13% YoY in March due to lower cane availability and early mill closures, though India’s overall seasonal production remains ~9% higher YoY. • Higher cane prices to pressure margins: The cane price increased by Rs. 30/quintal to Rs. 400/- per quintal. in UP’s SAP for 2025–26 improves farmer realizations but is likely to compress sugar mill margins unless supported by higher sugar prices. • Operational factors affecting recovery: Weather conditions, cane availability, and recovery rate variations continue to impact production efficiency across mills. • Export policy remains a swing factor: Government controls on sugar exports to ensure domestic availability continue to influence realizations, inventory levels, and pricing outlook. • Structural strengthening of sector: Capacity expansion, distillery integration, and deleveraging across leading mills are improving industry resilience and competitiveness. • Higher m