With India’s ambitious ethanol blending targets and growing environmental concerns, large-scale ethanol producers are positioned for substantial growth.
Companies with established capacity over 10 crore liters demonstrate operational excellence and infrastructure readiness, offering investors exposure to both sustainable energy transition and government policy benefits.
Major Achievements of EBP
The progress of India’s Ethanol Blended Petrol (EBP) Programme has been noteworthy, with the ethanol production capacity more than doubling in the last four years to reach 1,623 crore liters as of September 18, 2024
1. Balrampur Chini Mills Limited (BCML)
Founded in 1975, Balrampur Chini Mills Limited (BCML) is a major integrated sugar producer in India, headquartered in Uttar Pradesh. The company operates 10 plants with a crushing capacity of 80,000 tonnes of cane per day. It also emphasizes sustainability through initiatives like using bagasse for power generation and implementing zero liquid discharge technology.
BCML is committed to renewable energy, with a distillery capacity of 1,050 kiloliters per day and a cogeneration capacity of 278.47 MW. The company is diversifying into polylactic acid (PLA) production, establishing India’s first biopolymer plant. Led by Mr. Vivek Saraogi, BCML has expanded its operations to include ethanol, power generation, and eco-friendly products.
Balrampur Chini Mills Limited’s revenue from operations has increased by 19.8 percent from Rs. 4,666 crore in FY23 to Rs. 5,594 crore in FY24. The company’s net profit has increased from Rs. 284 crore in FY23 to Rs. 534 crore in FY24, which has grown by 88 percent.
With a market capitalisation of Rs. 10,396 crores, Balrampur Chini Mills Limited’s share price closed at Rs. 515 per equity share. As of March 31, 2024, Balrampur Chini Mills Limited is projected to produce 1050 KLPD, equating to 38.33 crore liters annually.
2. Shree Renuka Sugars
Established in 1998, Shree Renuka Sugars is a prominent sugar manufacturer based in Mumbai, Maharashtra. The company operates with a crushing capacity of around 14,000 tonnes of cane per day and plays a crucial role in the renewable energy sector through its significant ethanol production. It also generates power using bagasse, an eco-friendly by-product of sugar production.
Shree Renuka Sugars produces various grades of sugar for both domestic and international markets. The company is committed to contributing to the green energy initiative and sustainable agricultural practices. Its focus on ethanol production strengthens its role in India’s renewable energy landscape, alongside its operations in sugar and power generation.
Shree Renuka Sugars Limited’s revenue from operations has increased by 25.4 percent from Rs. 9,017 crore in FY23 to Rs. 11,311 crore in FY24. The company’s net loss has increased from Rs. 197 crore in FY23 to Rs. 627 crore in FY24.
With a market capitalisation of Rs. 8,361 crores, Shree Renuka Sugars Limited’s share price closed at Rs. 39.3 per equity share. As of March 31, 2024, Balrampur Chini Mills Limited is projected to produce 1050 KLPD, equating to 38.33 crore liters annually. As of March 31, 2024, Shree Renuka Sugars is projected to produce 15.6 crore liters annually.
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3. Bajaj Hindusthan Sugar
Bajaj Hindusthan Sugar Limited, founded in 1931, is one of India’s largest sugar producers. Based in Mumbai, it operates across several states with a crushing capacity of over 136,000 tonnes of cane per day. The company has a strong market presence in sugar production and is heavily invested in renewable energy, particularly ethanol and power generation.
Through its cogeneration plants and ethanol production, Bajaj Hindusthan plays a vital role in reducing dependence on fossil fuels. With a history spanning over 90 years, the company continues to focus on expanding its operations in sugar manufacturing, biofuels, and power, making it a key player in India’s sugar industry.
Bajaj Hindusthan Sugar Limited’s revenue from operations has reduced by 3.6 percent from Rs. 6,338 crore in FY23 to Rs. 6,104 crore in FY24. The company’s net loss has reduced from Rs. 135 crore in FY23 to Rs. 87 crore in FY24.
With a market capitalisation of Rs. 3,953 crores, Bajaj Hindusthan Sugar Limited’s share price closed at Rs. 31 per equity share. As of March 31, 2024, Balrampur Chini Mills Limited is projected to produce 1050 KLPD, equating to 38.33 crore liters annually. Bajaj Hindusthan Sugar is projected to produce 1,11,443 KL of ethanol, which is approximately 11.14 crore liters.
Written By Fazal Ul Vahab C H
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