The Indian sugar stocks soared upto 10 percent in the day’s trade thereby sweetening the mouth of its investors after Food Minister Pralhad Joshi announced the government is considering the industry’s demand of hiking the minimum selling price (MSP) of sugar from the current level of Rs 31 per kg, along with ethanol prices and lifting of certain ban regulations on sugar exports.
He commented “We are looking at the sugar production numbers for the 2024-25 season that will start in October before coming to any conclusion on exports. The industry has given us some numbers while we have our estimates based on all the inputs,”
He further added” Sugar production was good for the 2024-25 season (October to September) on account of a good monsoon. The petroleum ministry is seized of the matter, we are in touch with the petroleum ministry for consideration to hike the ethanol price,”.
Listed below are some of the top-performing sugar stocks that you can add to your watchlist following the government’s support to the sugar industry.
Balrampur Chini Mills
Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The company’s allied businesses produce sugar, conduct distillery operations, and cogenerate power.
With a market capitalization of Rs. 13,294 Crores, the shares of Balrampur Chini Mills Limited were trading at Rs. 651 per equity share, up 6.29 percent from its previous day’s close price of Rs. 612.50.
Balrampur Chini Mills Limited has an ethanol distillery capacity of 1050 KLPD and a sugarcane crushing capacity of 80,000 TCD.
Its revenue from operations grew by 2.30 percent from Rs. 1,390 Crores in Q1FY24 to Rs. 1,422 Crores in Q1FY25, accompanied by profits of Rs. 74 Crores to Rs. 70 Crores.
Triveni Engineering and Industries
Triveni Engineering and Industries Limited is an Integrated and diversified conglomerate in sugar manufacturing, and engineering businesses, covering power transmission, water and wastewater treatment solutions, and defence sectors.
With a market capitalization of Rs. 10,705 Crores, the shares of Triveni Engineering and Industries Limited were trading at Rs. 489 per equity share, up 3.54 percent from its previous day’s close price of Rs. 472.30.
Triveni Engineering and Industries Limited has an ethanol distillery capacity of 860 KLPD and a sugarcane crushing capacity of 63,000 TCD.
Its revenue from operations grew by 8.58 percent from Rs. 1,198 Crores in Q1FY24 to Rs. 1,301 Crores in Q1FY25, accompanied by profits of Rs. 68 Crores to Rs. 31 Crores.
Shree Renuka Sugars
Shree Renuka Sugars Limited is engaged in the production of sugar, ethyl alcohol, and ethanol, as well as the generation and sale of power. Its segments include Sugar milling, Sugar refinery, Distillery, Co-generation, Trading, Engineering, and Others.
With a market capitalization of Rs. 10,860 Crores, the shares of Shree Renuka Sugars Limited were trading at Rs. 51.02 per equity share, up 6 percent from its previous day’s close price of Rs. 48.12.
Shree Renuka Sugars Limited has an ethanol distillery capacity of 1250 KLPD and a sugarcane crushing capacity of 37,500 TCD.
Its revenue from operations grew by 32.83 percent from Rs. 2,284 Crores in Q1FY24 to Rs. 3,034 Crores in Q1FY25, accompanied by losses of Rs. 139 Crores to Rs. 166 Crores.
EID Parry (India)
E.I.D.- Parry (India) Limited is engaged in the business of sweeteners and nutraceuticals. Its business segments include Nutrient and allied business, Crop protection, Sugar, Cogeneration, Distillery, and Nutraceuticals.
With a market capitalization of Rs. 15,156 Crores, the shares of EID Parry (India) Limited were trading at Rs. 853.55 per equity share, up 3 percent from its previous day’s close price of Rs. 828.45.
EID Parry (India) Limited has an ethanol distillery capacity of 417 KLPD and a sugarcane crushing capacity of 40,800 TCD.
Its revenue from operations declined by 3.98 percent from Rs. 7,026 Crores in Q1FY24 to Rs. 6,747 Crores in Q1FY25, accompanied by profits of Rs. 325 Crores to Rs. 226 Crores.
Dhampur Sugar Mills
Dhampur Sugar Mills (Dhampur) is engaged in integrated sugarcane processing with a portfolio beyond sugar including renewable power, fuel ethanol, alcohol, extra-neutral alcohol, alcohol-based chemicals, and bio-fertilizers.
With a market capitalization of Rs. 1500 Crores, the shares of Dhampur Sugar Mills Limited were trading at Rs. 229.50 per equity share, up 4 percent from its previous day’s close price of Rs. 220.
Dhampur Sugar Mills Limited has an ethanol distillery capacity of 350 KLPD and a sugarcane crushing capacity of 24,000 TCD.
Its revenue from operations declined by 35.62 percent from Rs. 783.42 Crores in Q1FY24 to Rs. 504.38 Crores in Q1FY25, accompanied by profits of Rs. 45.41 Crores to Rs. 1.61 Crores.
Written by: Bharath K.S
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