Sugar Industry

Strong earnings growth ahead for listed sugar companies' stocks

The blend ratio targeted is 20 per cent (80 percent petrol with 20 per cent ethanol) for Nov '24-Oct '25, up from an estimated 14 per cent in Nov '23-Oct 24

Balrampur Chini stock nears record high, gains 5% on stable Q1 performance

Despite facing challenges in distillery operations due to regulatory issues, sugar segment has continued to perform well in a seasonally soft quarter, benefiting from higher volumes and realizations.

Dalmia Bharat Sugar Q1 results: Net profit falls 10.8% to Rs 54.73 crore

The company, which supplies sugar to companies like Coca-Cola, Britannia, Dabur, and Carlsberg, reported consolidated net profit of Rs 54.73 crore ($6.5 million), compared to Rs 61.34 crore year ago

Sugar summit: India to host Global ISO Council meet from June 25-27

India is set to host the International Sugar Organization (ISO) Council Meeting from June 25-27, in the national capital, bringing together delegates from over 30 countries to discuss critical issues in the sugar and biofuel sectors. As the world's largest consumer and second-largest producer of sugar, India has been nominated to chair the ISO for 2024, an official statement said. The event kicked off with an industrial tour to a grain-based distillery in Muzaffarnagar, Uttar Pradesh, on June 24, demonstrating India's adoption of cutting-edge technology in biofuel production. The main proceedings begin on June 25 with a workshop titled "Sugar and Biofuels -- Emerging Vistas" at Bharat Mandapam, to be inaugurated by Union Minister for Food as well as New & Renewable Energy Pralhad Joshi. Over 200 delegates, including international representatives, top management from Indian sugar mills, and industry associations, are expected to participate in discussions on the global sugar ...

EID Parry India Q4 results: Consolidated net proft at Rs 294.30 crore

E.I.D. Parry India Ltd has reported a consolidated profit after tax for the January-March 2024 quarter at Rs 294.30 crore, the company said. The city-based sugar manufacturer had registered a consolidated PAT at Rs 286.90 crore during the corresponding quarter of last year. Commenting on the financial performance, Managing Director S Suresh said, "the operating performance of the standalone sugar division was lower during the year as compared to the previous year on account of nil exports, higher cane cost, lower recovery from cane and change in product mix in distellery on account of change in Government policy." The overall cane crush marginally reduced during the year from 51.81 LMT metric tonne to 50.09 LMT and sugar sales reduced from 5.20 LMT (lakh metric tonne) to 4.64 LMT, he said. For the financial year ending March 31, 2024 the consolidated profit after tax fell to Rs 1,617.57 crore, from Rs 1,827.74 crore registered a year ago. The consolidated total income during the .

BJP ignored plight of UP's once-thriving sugar industry, alleges Congress

The Congress on Wednesday accused the BJP of ignoring the plight of Uttar Pradesh's once thriving sugar industry and neglecting farmers' frequent calls to increase the price of sugarcane. Congress general secretary Jairam Ramesh posed questions to Prime Minister Narendra Modi ahead of his rallies in Shravasti and Basti. "Why does Shravasti has the highest infant mortality rate in UP? Why have 189 primary schools in Basti been declared unusable? Why has the BJP neglected Basti's sugarcane farmers and sugar mills?" Ramesh said on X. Elaborating on what he said were "jumla details", the Congress leader said Shravasti ranks among India's most underdeveloped districts on several parameters and 96 of every 1,000 children die within a year of being born, much more than the UP's shamefully high average of 68 deaths per 1000 births. "While there should be 36 Primary Health Centres (PHCs) in Shravasti, 1 for every 30,000 residents, the district only has 11 PHCs, which amounts to 1 PHC for mo

Sugarcane gives high returns; ISMA calls for task force to maximise gains

Techniques such as drip irrigation, water resource augmentation, and mechanised harvesting are vital

BCML announces Rs 2,000 cr capex in India's 1st industrial bioplastic plant

Balrampur Chini Mills Limited (BCML), a leading integrated sugar mill company on Monday announced a Rs 2000 crore forward integration project which will be the first-ever "industrial bioplastic" plant in India. The Kolkata-based company said this diversification with its upcoming PLA (Polylactic Acid) manufacturing venture is well-aligned with the sustainability goals envisioned in India, to combat climate change. "The new project aims to propel India towards net zero emissions by 2070 with an estimated investment of Rs 2,000 crore in phases over the next 30 months," Balrampur Chini Executive Director Avantika Saraogi said. "Expected to be completed within 30 months, the new venture will mark the establishment of the first-ever industrial bioplastic plant in India. The state-of-the-art PLA factory will command a whopping capacity at a global scale of 75'000 tonne per annum," the company said. Despite not yet being finalized, the project will be located on a "greenfield site", bes

TEIL Q3 results: Profit falls 7% to Rs 137 cr; will foray into IMFL biz

Triveni Engineering & Industries Ltd, mainly engaged in the sugar business, has posted a 7 per cent decline in its consolidated net profit to Rs 137.40 crore for the December 2023 quarter and announced its foray into Indian Made Foreign Liquor (IMFL) manufacturing. Its net profit stood at Rs 147.28 crore in the year-ago period. The total income fell to Rs 1,575.55 crore in the October-December period from Rs 1,695.98 crore in the corresponding period of the previous year, a regulatory filing said on Monday. Triveni Engineering is one of the leading integrated sugar manufacturers and engineered-to-order turbo gearbox manufacturers in the country. It is also into water and waste-water management business. The company's board approved "venturing into the new business of manufacturing, marketing and selling own brands in the premium segment of Indian Made Foreign Liquor (IMFL) as a forward integration of the distillery operations". The company would set up a bottling plant in ...

Sugar production continues to fall, output till Dec 15 dips by 10.7%

Co-op sugar factories estimate full-year production to be 12% less in FY23-24

Sugar output down 11% at 7.4 mn tonne during Oct 1-Dec 15 of 2023-24 mkt yr

India's sugar production fell 11 per cent year-on-year to 74.05 lakh tonnes during the October 1-December 15 period of the current marketing year, mainly due to lower output in Maharashtra and Karnataka, according to industry body ISMA. The sugar marketing year runs from October to September. In a statement, the Indian Sugar Mills Association (ISMA) said that the sugar production till December 15 in the current 2023-24 marketing year reached 74.05 lakh tonnes against 82.95 lakh tonnes in the corresponding period of the previous year. The number of operating factories stood unchanged year-on-year at 497. "Notably, this year sugar factories in Maharashtra and Karnataka started around 10-15 days later compared to the last year," ISMA said. In Uttar Pradesh, sugar production has increased to 22.11 lakh tonnes till December 15 of the 2023-24 marketing year compared to 20.26 lakh tonnes in the year-ago period. However, the sugar output declined in Maharashtra to 24.45 lakh tonnes from

Sugar associations demand review of plan for ethanol from sugarcane juice

ISMA says move may delay cane price payment to farmers

Avadh Sugar posts Rs 29-crore net profit in Q2, total income at Rs 799 cr

Avadh Sugar & Energy Ltd, a K K Birla group company, has reported a net profit of Rs 29 crore for the quarter ended September as against a loss of Rs 16 crore in the corresponding period a year ago. Total income of the Kolkata-headquartered company during the quarter stood at Rs 799 crore, compared to Rs 594 crore in the year-earlier period. The EBITDA of the firm also came in higher at Rs 78 crore from Rs 6 crore in July-September last year, Avadh Sugar & Energy Ltd said in a release. "The company now proposes to increase sugar cane crushing capacity from 10,000 TCD (tonnes of cane crushed per day) to 13,000 TCD, and also improve energy efficiency, it said. The Indian agri-economy was impacted by the El Nino effect in 2023, resulting in a rainfall deficit during the critical months of the sugarcane cycle. With an anticipated lower production in the upcoming sugar season, we expect domestic sugar prices to remain firm, reinforcing our positive outlook on the sector, ...

NCLT relief to help Bajaj Hindusthan focus on expansion, growth plans

Sources said the plans, which were on hold due to the NCLT proceedings, will now be restarted with renewed vigour

NCLAT set aside CCI order imposing penalty of Rs 38 cr on 18 sugar mills

The NCLAT on Tuesday set aside a CCI order, imposing a penalty of Rs 38.05 crore on 18 sugar mills and two trade associations in 2018 in a case related to a joint tender floated by oil marketing companies for procurement of ethanol for blending with petrol. The appellate tribunal said the order passed by the fair trade regulator Competition Commission of India "suffers from illegality" and "does not comply with the requirement of adherence to the principle of natural justice". The quorum of CCI that heard the final arguments did not pass the necessary orders within a reasonable period of time, and by the time, the orders were pronounced in the case, one member was not present in at least four later hearings, and two members had demitted office, and therefore they did not participate in the decision making nor sign and authenticate the final order, said the National Company Law Appellate Tribunal (NCLAT). A two-member NCLAT bench also said that CCI passed the order on September 18, .

Shree Renuka to acquire 100% stake in Anamika Sugar Mills for Rs 235 cr

Shree Renuka Sugars on Tuesday said it has entered into an agreement to acquire a 100 per cent stake in Anamika Sugar Mills for Rs 235.5 crore. Renuka Sugars is one of the leading sugar firms in the country. In a regulatory filing, Shree Renuka Sugars informed that it has "entered into a binding agreement i.e., the Share Purchase Agreement, dated 26th September 2023, with Anamika Sugar Mills Pvt Ltd for acquisition of 100 per cent of the equity shares of Anamika". The company intends to establish a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of north and east India. "Acquisition of Anamika would enable the Company to gain access to existing sugarcane catchment area with a significant reduction in lead time for setting up the plant in Uttar Pradesh and easy access to skilled/unskilled labour," it added. The company said it might expand and modernise the plant. Anamika will become a wholly-owned subsidiary of the company. Shree

ISMA lowers 2022-23 sugar output and ethanol diversion estimates

However, several industry players said despite fall in sugar production, ethanol diversion will be steady at 4.5 million tonnes as against 3.6 million tonnes in 2021-22 (October to September)

India's 2022-23 sugar output to fall on adverse weather: Industry official

India, the world's biggest sugar producer and the second biggest exporter, had produced a record 35.9 million tonnes of sugar in the previous season ended on Sept. 30, 2022

Sugar firms may seek govt nod to retail green fuel from their own premises

The plan is to convert sugar factories into full-scale 'green energy hubs'

Sugar industry MSME margins hit by flat product prices: CRISIL SME TRACKER

Globally, supply is expected to ease as output in Brazil and Thailand, both major producers, is likely to revive