Sugar stocks extend fall on concerns of record output
Balrampur Chini Mills, Avadh Sugar & Energy and Dalmia Bharat Sugar and Industries were down 10% on the BSE.
 "Conditions for sugar mills to avail subsidy eased")
premium
Shares of sugar companies continue to trade lower for the fifth straight session, falling by up to 30%, on concerns of higher production which may pull down the prices of raw sugar.
Balrampur Chini Mills, Avadh Sugar & Energy and Dalmia Bharat Sugar and Industries were down 10% on the BSE. These stocks tanked in the range of 28% to 30% in past five trading sessions. Besides these three, as many as 20 sugar stocks were trading at their multi-months lows.
The Indian Sugar Mills Association (Isma) increased its earlier estimates for the country's sugar production by 45% to 29.5 million tonnes (mt) for 2017-18, after major producers Maharashtra and North Karnataka reported substantially higher yields per hectare. CLICK HERE TO READ FULL REPORT
Increased sugar production outlook in India is likely to add to concerns of excess global supplies and could pull down the prices of raw sugar.
Total 35 sugar companies posted a sharp 93% year on year drop in their aggregate net profit at Rs 58 crore in December quarter (Q3FY18). These companies had a combined net profit of Rs 851 crore in year ago period.
The performance of sugar segment was subdued owing to pressure on sugar realizations on account of greater than expected sugar production in the current sugar season, Vivek Saraogi, Managing Director, Balrampur Chini Mills said while announcing Q3FY18 results on February 8, 2018.
Over the past few years, both the Central and State Governments have taken several timely initiatives to protect interest of cane farmers, improve the liquidity of sugar mills and facilitate payment of cane dues to farmers. We are hopeful that the government would continue to act proactively to address industry concerns even in the current environment, he added.
Balrampur Chini Mills, Avadh Sugar & Energy and Dalmia Bharat Sugar and Industries were down 10% on the BSE. These stocks tanked in the range of 28% to 30% in past five trading sessions. Besides these three, as many as 20 sugar stocks were trading at their multi-months lows.
The Indian Sugar Mills Association (Isma) increased its earlier estimates for the country's sugar production by 45% to 29.5 million tonnes (mt) for 2017-18, after major producers Maharashtra and North Karnataka reported substantially higher yields per hectare. CLICK HERE TO READ FULL REPORT
Increased sugar production outlook in India is likely to add to concerns of excess global supplies and could pull down the prices of raw sugar.
Total 35 sugar companies posted a sharp 93% year on year drop in their aggregate net profit at Rs 58 crore in December quarter (Q3FY18). These companies had a combined net profit of Rs 851 crore in year ago period.
The performance of sugar segment was subdued owing to pressure on sugar realizations on account of greater than expected sugar production in the current sugar season, Vivek Saraogi, Managing Director, Balrampur Chini Mills said while announcing Q3FY18 results on February 8, 2018.
Over the past few years, both the Central and State Governments have taken several timely initiatives to protect interest of cane farmers, improve the liquidity of sugar mills and facilitate payment of cane dues to farmers. We are hopeful that the government would continue to act proactively to address industry concerns even in the current environment, he added.
| COMPANY | LATEST | 52 WK LOW | PREV LOW | PREV DATE |
| BAJAJ HINDUSTHAN | 10.80 | 10.65 | 11.00 | 07-Mar-18 |
| BALRAMPUR CHINI | 87.20 | 84.65 | 93.20 | 07-Mar-18 |
| BANNARI AMM.SUG. | 1600.25 | 1600.25 | 1650.00 | 07-Mar-18 |
| DALMIA BHARAT | 78.25 | 77.00 | 85.35 | 07-Mar-18 |
| DCM SHRIRAM INDS | 212.50 | 201.50 | 211.10 | 07-Mar-18 |
| DHAMPUR SUGAR | 145.80 | 144.05 | 155.00 | 07-Mar-18 |
| DHARANI SUGARS | 17.55 | 16.65 | 17.80 | 07-Mar-18 |
| DWARIKESH SUGAR | 27.20 | 26.65 | 28.80 | 07-Mar-18 |
| INDIAN SUCROSE | 27.60 | 27.55 | 28.95 | 07-Mar-18 |
| KCP SUGAR &INDS. | 24.70 | 22.85 | 24.20 | 07-Mar-18 |
| KM SUGAR MILLS | 11.99 | 11.80 | 12.89 | 07-Mar-18 |
| MAWANA SUGARS | 45.50 | 45.00 | 48.35 | 07-Mar-18 |
| RAJSHREE SUGARS | 30.55 | 30.10 | 31.70 | 07-Mar-18 |
| RANA SUGARS | 4.87 | 4.80 | 5.10 | 07-Mar-18 |
| SAKTHI SUGARS | 17.00 | 16.40 | 17.05 | 07-Mar-18 |
| SIR SHADI LAL | 45.00 | 44.00 | 44.10 | 07-Mar-18 |
| THIRU AROOR. SU. | 33.15 | 33.10 | 33.15 | 07-Mar-18 |
| TRIVEN.ENGG.IND. | 47.20 | 46.15 | 50.00 | 07-Mar-18 |
| UGAR SUGAR WORKS | 16.50 | 15.60 | 17.00 | 07-Mar-18 |
| UTTAM SUG.MILLS | 89.00 | 88.15 | 90.40 | 03-Mar-17 |