The government of India (GoI) has removed the cap on sugar diversion for ethanol production for the 2024-25 season reversing last year’s ban. This policy change allows sugar mills to produce ethanol from sugarcane juice and B-heavy molasses, enhancing their operational flexibility and potential profitability.
Following the new update on the removal of the cap on sugar diversion, the sugar stocks listed on the Indian exchanges soared up to 15 percent in the day’s trade.
The Government of India aims to raise the ethanol blending percentage in petrol and diesel to 15 percent by the end of 2025 and they have decided to uplift this ethanol blending percentage to 25 percent by the end of 2030.
Listed below are some of the leading sugar stocks in India along with their ethanol and sugar crushing capacity.
Balrampur Chini Mills
Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise producing sugar, distillery operations and cogeneration of power.
With a market capitalization of Rs. 12,426 Crores, the shares of Balrampur Chini Mills Limited were trading at Rs. 609 per equity share, up 5.24 percent from its previous day’s close price of Rs. 578.65.
Balrampur Chini Mills Limited has an ethanol distillery capacity of 1050 KLPD and a sugarcane crushing capacity of 80,000 TCD.
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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. 10,470 Crores, the shares of Triveni Engineering and Industries Limited were trading at Rs. 478 per equity share, up 9 percent from its previous day’s close price of Rs. 439.05.
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. 10,714 Crores, the shares of Shree Renuka Sugars Limited were trading at Rs. 50.34 per equity share, up 6 percent from its previous day’s close price of Rs. 47.38.
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. 14,763 Crores, the shares of EID Parry (India) Limited were trading at Rs. 832 per equity share, up 2 percent from its previous day’s close price of Rs. 814.35.
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. 1,464 Crores, the shares of Dhampur Sugar Mills Limited were trading at Rs. 224.45 per equity share, up 7 percent from its previous day’s close price of Rs. 209.15.
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 KS
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