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The Quarter story
The two most recent quarterly results, compared side-by-side.
Top-line growth and ethanol scaling offset easing borrowing costs, though core margins stay thin and project cycles drive earnings volatility.
Ethanol production surged from 81.6 KL in Q3 FY26 to 10,138 KL in Q1 FY27, reflecting major capacity ramp-up.
Profit before tax fell from ₹18.6 Cr in Q2 FY26 to ₹-4.4 Cr in Q1 FY27, signaling core margin pressure.
Cost of borrowing declined from 10.29% in Q1 FY26 to 9.73% in Q1 FY27, easing interest burdens.
Inventory buildup swung from ₹-238.22 Cr in Q4 FY26 to ₹209.65 Cr in Q1 FY27, indicating aggressive stock accumulation.
Revenue from operations climbed from ₹241.2 Cr in Q2 FY26 to ₹311.93 Cr in Q1 FY27, showing steady operational scale.
Engineering & Construction EBITDA dropped from ₹5.13 Cr in Q4 FY26 to ₹-2.11 Cr in Q1 FY27, highlighting project execution losses.
Total investment value recovered from ₹3,681 Cr in Q4 FY26 to ₹4,223 Cr in Q1 FY27, stabilizing the portfolio.
Share of profit from associates swung from ₹-12.13 Cr in Q4 FY26 to ₹34.37 Cr in Q1 FY27, showing high earnings volatility.
Sugar realization rose from ₹4,033 per quintal in Q2 FY26 to ₹4,116 in Q1 FY27, confirming stable pricing power.
Zuari Finserv EBITDA dropped from ₹2.0 Cr in Q1 FY26 to ₹0.2 Cr in Q1 FY27, signaling weakening returns.