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Systematix Research Report
We hosted the management of Balrampur Chini Mills Ltd. to understand the prevailing industry dynamics and growth plans of the company.
Balrampur Chini is one of the largest private sugar companies in India with a 5% share in ethanol market in FY21. The company's product portfolio includes sugar, ethanol, alcohol, bagasse, molasses, and power segments.
The company has a combined cane crushing capacity of 76,500 tonnes of cane per day. with a 560 kilo litre per day distillery and 172.2 mega watt exportable co-generation power capacity. Following are the key takeaways from our interaction:
At the end of the current sugar season, inventory is likely to drop by one million tonnes to 7.2 million tonnes. India is estimated to produce ~34 million tonnes of sugar in this season after diversion of 3.5 million tonne towards ethanol.
The management expects domestic consumption at 27 million tonnes with exports of ~8 million tonnes (given the favourable international prices).
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