“Balrampur Chini Mills continues to be our preferred name on the back of its accelerated Distillery Expansions, integrated operations, higher than industry recovery rates with a focus on cane development program and superior cash flows,” Dolat Capital said.
It added that the company is expected to complete its distillery expansion from 560 KlPD to 1050 KlPD by November 2022, which will help the company in manufacturing 35 crore liters of ethanol from FY24 onwards. With newer distilleries capable of producing ethanol via the direct cane juice, the company can maximize its profitability by taking advantage of the remunerative prices offered for Direct Juice ethanol, it said.
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