The rally in sugar stocks comes after the government cleared the exports of 1.5 million tonnes of sugar for the 2025-26 sugar season
Balrampur Chini Mills on Thursday posted a 12.65 per cent jump in consolidated net profit at Rs 229.12 crore in fourth quarter of the 2024-25 fiscal on higher income. Net profit stood at Rs 203.38 crore in the same quarter a year ago, according to a regulatory filing. Total income rose to Rs 1,513.16 crore in January-March quarter of the 2024-25 fiscal from Rs 1,438.56 crore in the year-ago period. Expenses remained higher at Rs 1,212.02 crore as against Rs 1,157.10 crore in the said period.
Technical charts suggest that smallcap stocks such as Balrampur Chini, Alok Industries, 360 One Wam, Elgi Equipments and Godawari Power are poised to gain in the near-term; check key levels here.
Triveni Engineering & Industries shares were up 3.35 per cent, EID Parry was up 3.16 per cent, and Balrampur Chini Mills shares were up 1.58 per cent
Balrampur Chini Mills on Monday reported a 60 per cent drop in its consolidated net profit to Rs 67.17 crore in the September quarter of FY25, as lower income weighed on the company's performance. The Uttar Pradesh-based company's consolidated net profit stood at Rs 166.25 crore a year ago. Net income declined 17.35 per cent to Rs 1,362.83 crore while its total expenses fell 8.43 per cent to Rs 1,312.08 crore during the quarter, according to a regulatory filing. Balrampur Chini, one of the country's largest sugar producers, operates 10 manufacturing facilities across eastern and central Uttar Pradesh with a total daily cane crushing capacity of 80,000 tonnes.
Key players in the sector, including Shree Renuka Sugars, Dhampur Sugars, and Balrampur Chini Mills, were among the top gainers.
Derivative market update for Monday, Sept 02: FIIs long-short ratio in index futures rose to 2.6:1, implying 5 longs for every 2 shorts. Bandhan Bank, Syngene and Granules India see long buildup.
Derivatives market update: In the last 4 trading sessions, the Nifty and Bank Nifty, both, have witnessed short-covering as prices rose on the back of 20% and 16% decline in open interest.
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.
Balrampur Chini Mills Ltd on Monday reported a 4.6 per cent drop in its consolidated net profit to Rs 70.15 crore in the first quarter of the current fiscal, as lower sugarcane availability hit production volumes. The net profit stood at Rs 73.50 crore in the same quarter previous fiscal, according to a regulatory filing. Its revenue from operations rose 2.3 per cent to Rs 1,421.59 crore in the quarter ended June 30 this fiscal from 1,389.62 crore in the year-ago period. The expenses increased to Rs 1,334 crore from Rs 1,301 crore in the said period. According to the company, sugarcane crushing remained down 54 per cent, sugar production fell 48 per cent due to lower cane availability, and the distillery segment was impacted by regulatory issues and reduced cane supply. "Despite facing challenges in distillery operations due to regulatory issues, the sugar segment has continued to perform well in a seasonally soft quarter, benefiting from higher volumes and realisations," Balrampu
Leading sugar producer Balrampur Chini Mills Limited (BCML), on Thursday reported a 97 per cent jump in consolidated net profit to Rs 91.32 crore in the third quarter ended December 2023 on the back of better margins, against Rs 46.28 crore profit registered in the corresponding quarter last year. Revenue from operations for the quarter ended was Rs 1230.39 crore as against Rs 981.16 crore in the corresponding quarter of the last year, representing an increase of 25 per cent, the company said in a statement. EBITDA (excluding Other Income) during the quarter under review was higher by 42 per cent to Rs 113.39 crore as against Rs 79.67 crore in the corresponding quarter of the last year. BCML Chairman and Managing Director Vivek Saraogi said, "This quarter resulted in an improved supply of sugarcane for our operations. Overall, with our focused efforts on enhancing sugarcane quality and quantity, our cane development initiatives are on track and we expect to crush about 10 per cent
The central government has directed all sugar mills not to use sugarcane juice or syrup for making ethanol in 2023-24 season, as the sugar production expected to be down in this year.
Balrampur Chini Mills Ltd (BCML) expects its growth momentum to remain robust, fueled by increased crushing and higher yield in the current sugar season October 2023-September 2024, a top company official said. In addition to the organic growth it is achieving, the company is also exploring suitable "acquisition opportunities" in the inorganic space. "I don't want to stall our growth trajectory. We need to evaluate various opportunities to ensure sustained healthy growth given the favourable government policies. We expect our performance is going to be only better in the years to come," Avantika Saraogi, Promoter and Business Lead (New Initiatives), told PTI, without divulging specific targets. BCML's 2022-23 topline stood at Rs 4,728 crore. H1FY'24 (April-September 23) revenue jumped 33 per cent YoY to Rs 2,929 crore. Saraogi who played a pivotal role in BCML's success, expressed confidence in the company's future performance. The city-based sugar major, which operates ten sugar
Magadh Sugar & Energy, Avadh Sugar & Energy, Uttam Sugar Mills and Dalmia Bharat Sugar and Industries rallied in the range of 10 per cent to 13 per cent on the BSE in Thursday's intra-day trade.
Bayer Cropscience, Granules India and HLE Glasscoat are the other three stocks that can generate healthy returns till next Diwali, based on the existing chart patterns.
According to CRISIL, despite reduced exports and a decline in ethanol production, Ebitda margins of MSMEs in the sugar industry are projected to increase in the upcoming quarters
Dalmia Bharat said the outlook for the FY2023-24 seems stable as there will be less pressure on stock levels and the company can expect improved profitability and realizations
Significant optimism has returned to the sugar sector due to seasonal factors (festival period), and growing concerns on India's sugar production estimate for the upcoming season
Sugar prices are on a high with a fall in production primarily due to unseasonal showers in key growing areas of Maharashtra and Karnataka in March
Sugar prices rose to a six-year high on Tuesday, amid concerns over a deficient monsoon.