Sugar crushing volume
15.31 lakh MT
+20.6% YoY
Crushed 15.31 lakh MT vs 12.7 lakh MT in Q3 FY25, driven by longer season.
EIDPARRY
Other
14 Feb 2026
E I D-Parry Ltd — Q3 FY26
EID Parry reported Q3 FY26 revenue of ₹389 crore, flat YoY, as sugar segment benefited from better realizations (₹40/kg vs ₹37.69) but consumer products declined due to channel restructuring and lower pulse prices.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
EID Parry reported Q3 FY26 revenue of ₹389 crore, flat YoY, as sugar segment benefited from better realizations (₹40/kg vs ₹37.69) but consumer products declined due to channel restructuring and lower pulse prices. Distillery volumes were stable but ethanol pricing remains stagnant. The refinery business saw cost improvements but spreads compressed due to global surplus. Management guided for a stronger Q4 in sugar (seasonal) and expects consumer product correction to conclude by Q4, with new category entry plans announced in May. Key risk: policy inaction on MSP/ethanol pricing could continue to pressure margins.
Key Numbers
Sugar recovery rate
11.19%
+341bps YoY
Recovery improved from 7.78% in Q3 FY25, indicating better cane quality.
Refined sugar sales volume
1.57 lakh MT
-16% YoY
Sales declined from 1.87 lakh MT due to lower white premiums globally.
Consumer product outlet coverage
1-1.2 lakh outlets
flat
Current coverage; 70,000 outlets buy quarterly. Growth expected post-restructuring.
Management Guidance
Consumer product correction to conclude in Q4
Channel restructuring and business model correction will be completed by Q4 FY26, with stronger operating model expected from Q1 FY27.
Management guidance growthNew food FMCG categories to be announced in May
Management will reveal new categories beyond sweeteners and staples in the next earnings call, based on work with industry experts.
Management guidance expansionRefinery cost levels sustainable
Energy efficiency projects have reduced costs to ~$41/MT, and management expects to sustain these levels going forward.
Management guidance marginsKey Risks
Policy inaction on MSP and ethanol pricing
No upward revision of MSP or ethanol prices expected, straining sugar and distillery margins.
high · management_commentaryGlobal white sugar surplus pressuring spreads
White premiums remain low due to global surplus, impacting refinery profitability for at least two more quarters.
medium · management_commentaryConsumer product restructuring may not fully recover
Impairment of ₹10 crore taken in Q3; further impairments possible if channel correction fails to deliver expected results.
medium · analyst_questionNotable Quotes
We will also announce in Q1 the newer categories we wish to enter in the food FMCG space.
We have taken some impairments on account of this channel correction and that's reflected in the numbers this year we've already taken in Q3 a 10 crore impairment.
The white premiums which is the indication of spread availability has been under pressure over the last 6 months.
Frequently Asked Questions
What was E I D-Parry's revenue in Q3 FY26?
E I D-Parry reported revenue of ₹10,316 Cr in Q3 FY26, representing a -0.5% change compared to the same quarter last year.
What guidance did E I D-Parry management give for FY27?
Consumer product correction to conclude in Q4: Channel restructuring and business model correction will be completed by Q4 FY26, with stronger operating model expected from Q1 FY27. New food FMCG categories to be announced in May: Management will reveal new categories beyond sweeteners and staples in the next earnings call, based on work with industry experts. Refinery cost levels sustainable: Energy efficiency projects have reduced costs to ~$41/MT, and management expects to sustain these levels going forward.
What are the key risks for E I D-Parry in FY27?
Key risks include Policy inaction on MSP and ethanol pricing — No upward revision of MSP or ethanol prices expected, straining sugar and distillery margins.; Global white sugar surplus pressuring spreads — White premiums remain low due to global surplus, impacting refinery profitability for at least two more quarters.; Consumer product restructuring may not fully recover — Impairment of ₹10 crore taken in Q3; further impairments possible if channel correction fails to deliver expected results..
Did E I D-Parry meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full E I D-Parry Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.