Balrampur Chini Mill

May 15 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• MARCH-QUARTER CONSOL PROFIT 1.6 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 16.04 BILLION RUPEES

• APPROVED RE-APPOINTMENT OF VIVEK SARAOGI AS MD

Further company coverage: BACH.NS

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** Shares of major Indian sugar companies fall in morning trading after the government on Wednesday banned sugar exports till September 30, 2026

** Balrampur Chini Mills BACH.NS down 2.2%, Dhampur Sugar Mills DAMS.NS down 6.8%, Triveni Engineering and Industries TREI.NS down 3.8%,

** Dalmia Bharat Sugar DLMI.NS down 3.8%, Shree Renuka Sugars SRES.NS down 2%

** Ban comes as federal government tries to contain domestic prices and manage inflation

** Curbs will not apply to some exports, including those to the EU and U.S. under quota schemes, government-to-government shipments, and consignments already in transit

** YTD, Nifty Commodities Index .NIFTYCOM up 8.4% vs benchmark Nifty 50 Index's .NSEI 10.2% decline

(Reporting by Abhinav Parmar in Bengaluru)

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April 24 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS LTD- ANNOUNCES 1.60 BILLION RUPEES LACTOGYPSUM PROCESSING PLANT AT KUMBHI TO TRANSFORM PLA BY-PRODUCTS INTO HIGHVALUE GYPSUM BOARDS

• BALRAMPUR CHINI MILLS LTD- PLANT TO PRODUCE 7.6 MILLION GYPSUM BOARDS ANNUALLY; COMMERCIAL PRODUCTION BY DECEMBER 2027

• BALRAMPUR CHINI MILLS LTD- TO RAISE 4.50 BILLION RUPEES VIA PREFERENTIAL ISSUE

Source text: [ID:]

Further company coverage: BACH.NS

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April 23 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS LTD - APPROVES LACTOGYPSUM PROCESSING PLANT AT KUMBHI, UTTAR PRADESH AT COST UP TO 1.60 BILLION RUPEES

• BALRAMPUR CHINI MILLS LTD - APPROVES ISSUE OF SHARES WORTH 4.50 BILLION RUPEES

Source text: ID:nBSE43Nn2t

Further company coverage: BACH.NS

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April 20 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS LTD - TO CONSIDER FUND RAISING BY ISSUE OF SECURITIES ON PREFERENTIAL BASIS

Source text: ID:nBSE5hCxw3

Further company coverage: BACH.NS

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** Shares of Indian sugar companies up 0.33% to 1.89%

** India approved an additional export quota of 87,587 tonnes for the 2025-26 marketing year

** Last month, the federal government allowed exports additional 500,0000 tons of sugar to support local growers

** EID-Parry EIDP.NS up 1.89%,

** Shree Renuka Sugars SRES.NS up 1.58% and Dhampur Mills DAMS.NS rises 1.43%

** Balram Chini Mills BACH.NS and Dalmia Bharat DALB.NS rise 0.37 % and 0.33% respectively

(Reporting by Urvi Dugar in Bengaluru)

(([email protected];))

Feb 23 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• SECURES INSTITUTIONAL ORDER FROM LUCKNOW CANTONMENT BOARD

Source text: ID:nNSE1wX1BL

Further company coverage: BACH.NS

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By Rajendra Jadhav

KOLHAPUR, India, Feb 18 (Reuters) - India is likely to produce less sugar than initially estimated, as excessive rainfall across major producing states is resulting in lower cane yields, farmers and trade officials told Reuters, capping exports from the world's second-largest producer.

Traders said India may struggle to ship even half of its allocated export quota, lending support to global sugar prices SBc1LSUc1 that are hovering near five-year lows while also lifting domestic prices.

India is expected to produce between 28.5 million and 29 million metric tons of sugar in the 2025/26 marketing year ending in September, according to internal estimates from five trade houses that declined to be named in line with company policies.

The Indian Sugar & Bio-Energy Manufacturers Association (ISMA) has forecast output at 30.95 million tons for the year.

"Cane yields are down across all the main producing states. From Maharashtra and Karnataka to Uttar Pradesh and Gujarat and that's pushing this season's production estimates lower," said Rahil Shaikh, managing director of Mumbai-based MEIR Commodities India.

The largest cut is expected in top producer Maharashtra, with output seen at about 9.6 million tons compared to an earlier estimate of 10.8 million tons, trade houses said.

Nearly five dozen farmers from cane-growing regions of Maharashtra and neighbouring Karnataka, including Vilas Patil from Kolhapur, said excessive rainfall damaged root development and led to early crop maturity.

"We were hoping for a cane yield of at least 60 tons per acre, but it came in at only 48 tons. Excessive rainfall disrupted the crop's growth cycle," said Patil.

Cane-growing regions of Maharashtra received as much as 115% more rainfall than normal in September, weather department data showed.

Maharashtra has produced 9 million tons of sugar so far this season, and nearly half of the 207 mills that began crushing have already shut due to cane shortages, said a senior state government official, who declined to be named as he is not authorised to speak to media.

The downward revision in sugar output, coupled with an expected rise in seasonal summer demand from next month, is likely to support prices, a Mumbai-based dealer said.

India on Friday allowed the export of an additional 500,000 tons of sugar, on top of the 1.5 million tons approved earlier, taking total export quota for the year to 2 million tons.

"Mills are fetching higher prices in the domestic market, so they have little incentive to export. Indian shipments are unlikely to exceed 700,000 tons," said Shaikh.

(Reporting by Rajendra Jadhav; Editing by Mrigank Dhaniwala)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

Feb 10 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS LTD DEC-QUARTER CONSOL PROFIT 1.13 BILLION RUPEES

• BALRAMPUR CHINI MILLS LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 14.54 BILLION RUPEES

Source text: ID:nBSEl0bqB

Further company coverage: BACH.NS

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Nov 11 (Reuters) - Indian sugar and ethanol maker EID Parry EIDP.NS reported a loss in the second-quarter on Tuesday, hit by sluggish sugar demand.

The company posted a loss after tax of 2.86 billion rupees ($32.5 million) in the three months ended September 30, from a profit of 282.5 million rupees a year earlier.

Overall revenue from operations slipped 0.2% to 7.54 billion rupees.

Revenue in the company's mainstay sugar segment growth was flat, while for the distillery segment it grew 3.9%.

For further earnings highlights, click [here]

KEY CONTEXT

India’s sugar exports are expected to fall below 800,000 metric tons this season, short of the 1 million-ton quota, as cheaper Brazilian supplies drive down global prices, making Indian shipments less competitive, according to trade and government officials.

The South Asian nation had permitted 1 million tons of sugar exports for the 2025 season to create opportunities for producers to offload surplus stocks and support domestic prices.

Domestic producers saw a 2% year-on-year drop in industry volumes to 6.8 million tonnes in the quarter, while prices held steady. Ethanol output rose sharply by 40% to 1.8 billion litres in July and August, helping cushion earnings for companies with distillery operations.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JULY-SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 87.8950 rupees

($1 = 87.8950 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Ronojoy Mazumdar)

(([email protected];))

** Balrampur Chini Mills BACH.NS, Dalmia Bharat Sugar and Industries DLMI.NS, Triveni Industries TREI.NS, Shree Renuka Sugars SRES.NS, Bannari Amman Sugars BANN.NS, Bajaj Hindusthan Sugar BJHN.NS, Dhampur Sugar Mills DAMS.NS, Avadh Sugar AVAD.NS rise between 0.41% and 5.28%

** Indian government plans to allow 1.5 million metric tons of sugar exports, per Reuters report

** Exports meant for 2025-26 season, which began on October 1, with final order expected soon, per government source

** Higher exports expected to reduce domestic surplus resulting from lower diversion for ethanol production, benefitting producers

** YTD, BACH down 14%, DLMI sheds 8.2%, TREI drops 20%, SRES falls 26.5%, BANN eases 0.2%, BJHN loses 30%, AVAD slips 20%

(Reporting by Mridula Kumar)

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** Shares of sugar companies rally after India allows production of ethanol from sugarcane juice, syrup, and all types of molasses

** Starting November 1, sugar mills and distilleries are allowed to produce ethanol without any quantitative restriction

** Shree Renuka Sugars SRES.NS and Dhampur Mills DAMS.NS rise the most to 12% and 10%, respectively

** Avadh Sugar AVAD.NS, Bajaj Hindusthan Sugar BJHN.NS climb ~8% each

** Balram Chini Mills BACH.NS rises 6.5%

** EID-Parry EIDP.NS up 1.7%, Dalmia Bharat DALB.NS trades flat

** Government to periodically review sugar diversion to ethanol to ensure year-round domestic availability

** India restricted production in the current marketing year because of a drop in sugarcane supplies

(Reporting by Urvi Dugar)

(([email protected];))

Adds details, background, industry official's comment in paragraphs 3-8

MUMBAI, Sept 1 (Reuters) - India has allowed production of ethanol from sugarcane juice, syrup and all types of molasses without any restrictions on volumes in 2025/2026, the government said in a notification on Monday.

The world's second-biggest sugar producer had restricted production in the current marketing year because of a drop in sugarcane supplies.

In the new ethanol supply year starting from November 1, sugar mills and distilleries are allowed to produce ethanol without any quantitative restriction, the Ministry of Consumer Affairs, Food & Public Distribution said.

The government will periodically review sugar diversion to ethanol to ensure year-round domestic availability of the sweetener, it said.

In the new season, sugarcane supplies are expected to jump as ample monsoon rains for two straight years have helped farmers to expand area under the crop.

"This is a welcome move. The government should also raise the ethanol procurement price so that mills can pay farmers the government-fixed cane price," said a sugar miller based in the western state of Maharashtra.

Indian sugar mills such as E.I.D.-Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka SRES.NS, Bajaj Hindusthan BJHN.NS and Dwarikesh Sugar DWAR.NS have increased their ethanol production capacity in the last few years.

India, the No.3 oil importer and consumer of petroleum products, aims to increase the blending of ethanol into gasoline to 20% by 2025/26.

(Reporting by Rajendra Jadhav; Editing by Tomasz Janowski and Jan Harvey)

(([email protected];))

Aug 12 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS JUNE-QUARTER CONSOL PROFIT 515.7 MILLION RUPEES

• BALRAMPUR CHINI MILLS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 15.42 BILLION RUPEES

Source text: [ID:]

Further company coverage: BACH.NS

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July 16 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• UP REINSTATES IMPORT/EXPORT FEES ON DENATURED ALCOHOL

• RETROSPECTIVE CHARGES AMOUNT TO 218.1 MILLION RUPEES

Source text: ID:nBSE4TvchF

Further company coverage: BACH.NS

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May 15 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS MARCH-QUARTER CONSOL PROFIT 2.29 BILLION RUPEES

• BALRAMPUR CHINI MILLS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 15.04 BILLION RUPEES

Source text: [ID:]

Further company coverage: BACH.NS

(([email protected];))

Removes reference to court in paragraph 5 to clarify that Samsung is not suing the government

By Aditya Kalra

NEW DELHI, April 15 (Reuters) - In India, the world's largest consumer of sugar, the federal government and producers have locked horns in court over a contentious issue: jute bags.

Prime Minister Narendra Modi's government has been tightening enforcement of a 1987 law, which obliges sugar mills to pack 20% of their supplies in jute bags or face fines for non-compliance, in a bid to support the traditional fibre industry.

The law now faces a legal challenge from Indian sugar mills, which say using jute bags each year costs them an additional $76 million compared to recyclable plastic ones. They also argue the fibre bags also increase the risk of sugar contamination, previously unreported court documents show.

The Indian government says contamination concerns are unfounded as jute bags are more robust and pest resistant than recyclable plastic packaging, its court filing shows. It also told the High Court in Karnataka that the law was a "welfare legislation" important to safeguard the traditional industry which supports 4 million agricultural families.

The lawsuits mark the latest tussle between big companies and Modi's government. Global and Indian electronic companies, including Daikin 6367.T and Samsung 005930.KS, are separately fighting Modi over moves to regulate how much they must pay for e-waste recycling.

The filings related to the lawsuit which started in August are not public and were reviewed by Reuters this week. The Karnataka High Court is set to start hearing final arguments in the case on Wednesday, with a ruling expected in coming weeks.

In December, one letter shows, the government warned sugar mills non-compliance with jute packaging rules will "be viewed seriously and strict action will be taken".

The sugar industry group and India's government did not respond to Reuters queries.

Sugar producers said in the court filings that jute bag rules were also a spoiler for business, with many buyers reluctant to take such bags.

The South Indian Sugar Mills Association said that its bulk consumers "like Pepsi, Coke, Britannia, ITC, Nestle ... do not accept sugar in jute bags due to quality, contamination, hygiene and food safety risks."

With an estimated 28 million tons of consumption, India is the world's biggest sugar consumer ahead of China.

Modi, a longstanding supporter of traditional and rural sectors, has been vocal about protecting the jute industry. In 2023, he said such "reservation norms" for jute packaging contributed towards "revitalising" the sector and helped farmers.

(Reporting by Aditya Kalra; Additional reporting by Mayank Bhardwaj
Editing by Tomasz Janowski)

((Email: [email protected]; X: @adityakalra;))

** Shares of Balrampur Chini Mills BACH.NS drop 4.6% to 453.25 rupees

** Sugar producer reports 23% Y/Y fall in third-quarter profit, rev from ops down 3%

** Co reports loss of 85.3 mln rupees in its second-biggest business, distillery, compared to year-ago profit of 351 mln rupees

** Avg rating of seven analysts on BACH at "strong buy"; median PT is 682 rupees - LSEG data

** Stock gained 29% in 2024

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

** Indian sugar companies gain between 2.4% and 6.6%

** Indian government preparing for final decision on proposed ethanol price increase, ET Now reports citing sources

** Report says price of ethanol made from B-heavy molasses expected to rise by ~2 rupees/litre, while price of ethanol made from sugarcane juice likely to climb 1.50 rupees/litre

** Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, Dhampur Sugar Mills DAMS.NS, Dalmia Bharat Sugar and Industries DLMI.NS, E.I.D. - Parry (India) EIDP.NS, Shree Renuka Sugars SRES.NS, Triveni Engineering and Industries TREI.NS up 2.4%, 3.9%, 6.6%, 4.8%, 3%, 4.1% and 2.9%, respectively

** In 2024, BJHN, BACH, TREI, EIDP advanced 9.2%, 29.1%, 32.3%, 60.5%, respectively; SRES lost 16.3%, DLMI fell 12% and DAMS shed 36.3%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Indian sugar companies jump between 3% and 7%

** ET Now reports citing sources that India is likely to lift restrictions on sugar exports

** India, the world's biggest sugar producer after Brazil, had banned mills from exporting the sweetener from Oct. 1, 2023

** Triveni Industries and Engineering TREI.NS, Shree Renuka Sugars SRES.NS, Dalmia Bharat Sugar DLMI.NS, Bajaj Hindusthan Sugar BJHN.NS and Balrampur Chini Mills BACH.NS jump 3%, 4.5%, 5.5%, 7.0%, and 7.2%, respectively

** In 2024, SRES fell 16%, DLMI was down 12%, while BJHN, BACH and TREI rose 9%, 29% and 32%, respectively

(Reporitng by Nishit Navin)

(([email protected];))

By Rajendra Jadhav

MUMBAI, Dec 23 (Reuters) - Sugarcane yields in India are declining due to last year's drought and this year's excessive rains, which could reduce the country's sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday.

Lower-than-expected output by the world's second-largest sugar producer could eliminate the possibility of India allowing exports in the current season ending in September 2025, supporting global sugar prices SBc1, LSUc1.

Maharashtra, Karnataka, and Uttar Pradesh account for more than 80% of the country's total sugar production, with lower cane yields in these states prompting trade houses to reduce their output estimates for the 2024/25 season.

The production could fall to around 27 million metric tons from the last year's 32 million tons and below annual consumption of more than 29 million tons, said India head of a global trade house, who declined to be named.

"During the summer months, the cane crop faced prolonged stress due to the lack of water," B.B. Thombare, president of the West Indian Sugar Mills Association told Reuters.

"When the monsoon season began, there was excessive rainfall and limited sunshine, which also adversely affected the crop's growth."

The adverse weather curtailed cane yields by 10 to 15 tons per hectare, Thombare said.

The western state of Maharashtra and neighbouring Karnataka, which together produce nearly half of India's sugar, received lower-than-average rainfall in 2023, bringing down reservoir levels.

"Usually, we harvest 120 to 130 tons of cane from one hectare of land, but this year yields have fallen to 80 tons despite all our efforts," says Shrikant Ingle, who cultivated cane on five acres of land in Maharashtra's Solapur.

Drought did not affect the crop in Uttar Pradesh, the country's leading sugar-producing state in the north.

However, plantations in the state were impacted by red rot disease, which reduced sugarcane yields, said a senior state government official.

"To control the spread of the disease, we are advising farmers to adopt new cane varieties," the official said.

The downward revision in the production estimate has eliminated the possibility of any exports in the current season, the head of the trade house said.

Sugar industry seeks 2 million tons of exports, while the government says it may allow limited exports, if any surplus remains after ethanol needs are met.

(Reporting by Rajendra Jadhav; Editing by Janane Venkatraman)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

By Rajendra Jadhav

MUMBAI, Dec 5 (Reuters) - Sugar prices in India fell to their lowest level in 1-1/2 year due to ample supplies, making it difficult for mills to pay farmers the cane price as the crushing season gains momentum, industry officials told Reuters.

The fall in prices is prompting industry to demand immediate revision in minimum selling price (MSP) to limit losses, which will improve mills' margins and allow them to make timely cane payments to millions of cane growers.

"Sugar prices have fallen below the cost of production. This makes it difficult for mills to pay the revised cane price unless sugar prices rise," said B.B. Thombare, president of the West Indian Sugar Mills Association.

Wholesale sugar prices SUG-ARSKOL-NCX at Kolhapur in western state of Maharashtra have fallen nearly 8% in past four months to 33,675 rupees ($397.60) per ton, the lowest since June 2023.

The government should quickly raise the MSP above 40,000 rupees per ton to make cane crushing viable for sugar mills, Thombare said.

Indian trade bodies have been demanding an increase in the MSP, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Sugar prices are falling as demand has decreased after the festival season, and new season supplies have begun, said Ashok Jain, president of the Bombay Sugar Merchants Association.

Indian mills have produced 2.79 million metric tons of sugar since the current season began on Oct. 1, down 35.4% year on year, a leading industry body said on Monday.

Mills in Maharashtra, which recently underwent state elections, sold more sugar than allocated, as mills controlled by politicians needed funds for election campaigns, said a Mumbai-based trader.

"The market was flooded with sugar in the past two months. This is why mills are now struggling to sell sugar, even at lower prices," the trader said.

($1 = 84.6950 Indian rupees)

(Reporting by Rajendra Jadhav; editing by David Evans)

(([email protected]; Reuters Messaging: x.com/Rajendra1857))

Nov 11 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS SEPT-QUARTER CONSOL PROFIT 671.8 MILLION RUPEES

• BALRAMPUR CHINI MILLS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 12.98 BILLION RUPEES

• BALRAMPUR CHINI MILLS LTD - DIVIDEND 3 RUPEESPER SHARE

Source text: ID:nNSE4Ck49p

Further company coverage: BACH.NS

(([email protected];))

* India's sugar companies jump between 6.5% and 10.2%

* Food minister on Thursday said that India is considering raising domestic prices of ethanol and sugar

* Shree Renuka Sugars SRES.NS, Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, EID Parry (India)EIDP.NS rose 10.2%, 6.5%, 8.3%, and 3.6%, respectively

* YTD SRES up ~12%, while BACH, BJHN, and EIDP gained ~58%, ~55%, and ~54%, respectively

(Reporting by Vijay Malkar)

(([email protected];))

** Shares of Indian sugar makers down between 2%-3%

** India plans to extend a ban on sugar exports for the second straight year as it grapples with the prospects of lower cane output, government sources told Reuters

** Shree Renuka Sugars SRES.NS down 3%

** Balrampur Chini Mills BACH.NS down 2.6%

** Dalmia Bharat Sugar and Industries DLMI.NS down 2.4%

** Dwarikesh Sugar Industries DWAR.NS down 2.4%

** Triveni Engineering TREI.NS down 3%

** YTD, SRES is up 0.9%, BACH up ~40%, DLMI up 9.5% while DWAR is down 16.1%, TREI up 38%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of Indian sugar makers gain between 6% and 9%

** Sugar mills in India will be allowed to produce ethanol from cane juice from Nov. 1, the govt said, after imposing curbs in 2023

** Balrampur Chini Mills BACH.NS jumps 6.2%, Shree Renuka Sugars SRES.NS gains 7.4% and Bajaj Hindusthan Sugar BJHN.NS adds 8.5% in early trade

** BACH has gained 50% YTD, while SRES and BJHN advanced 8% and 58%, respectively

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Adds details, comments from industry officials

By Rajendra Jadhav

MUMBAI, Aug 29 (Reuters) - India will allow sugar mills to use cane juice or syrup to produce ethanol in the new marketing year starting Nov. 1, the government said in a notification on Thursday.

The world's second-biggest sugar producer imposed restrictions on diverting sugar for ethanol production in December 2023 to increase sugar output after cane crop was hit by below-average monsoon rains.

In the new season, distilleries can also use B-heavy molasses, a byproduct with higher sucrose levels, for ethanol production, the government said in the notification.

Around 750,000 metric tons of B-heavy molasses are lying in stock with mills after the government restricted ethanol production from this feedstock last year, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd.

"Now that the restriction is lifted, they can use these stocks," Naiknavare said.

Indian sugar mills such as E.I.D.-Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka SRES.NS, Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS have increased their ethanol production capacity in the last few years.

The south Asian country also allowed distilleries to purchase up to 2.3 million metric tons of rice from the state-run Food Corporation of India (FCI) for ethanol production, the government said in a separate notification.

"The permission to utilise FCI rice as a feedstock will enhance ethanol production from dual-feed distilleries," said Vijay Nirani, managing director of TruAlt Bioenergy Ltd.

The two policy changes will not only help increase ethanol blending in gasoline but also help mills and distilleries make timely cane payments to millions of farmers, Nirani said.

India aims to increase ethanol production to blend 20% ethanol into gasoline by 2025-26, from around 13% now.

(Reporting by Rajendra Jadhav; Editing by Kirsten Donovan and Devika Syamnath)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

Aug 12 (Reuters) - Balrampur Chini Mills Ltd BACH.NS:

• BALRAMPUR CHINI MILLS JUNE-QUARTER CONSOL PROFIT 701.5 MILLION RUPEES

• BALRAMPUR CHINI MILLS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 14.22 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BACH.NS

(([email protected];))

BENGALURU, Aug 2 (Reuters) - India's Dalmia Bharat Sugar and Industries DLMI.NS reported a 10.8% fall in first-quarter profit on Friday, hurt by higher inventory and expenses.

The company, which supplies sugar to companies like Coca-Cola KO.N, Britannia BRIT.NS, Dabur DABU.NS, and Carlsberg CARLb.CO, reported consolidated net profit of 547.3 million rupees ($6.5 million), compared to 613.4 million rupees year ago.

Revenue from operations rose 15.2% to 9.6 billion rupees. However, total expenses rose 19.2% to 9.01 billion rupees.

For further results highlights, click nFWN3JP2T9

KEY CONTEXT

Indian sugar companies have been battling increased inventory costs. While Dalmia Bharat's inventory cost rose more than two-fold in the first quarter, rival Dwarikesh Sugar Industries DWAR.NS and Dhampur Sugar Mills DAMS.NS saw those expenses grow more than five-fold and nearly 10% respectively.

India, the world's largest sugar consumer and second-biggest producer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices, leading to a larger inventory for the companies.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.7250 Indian rupees

(Reporting by Ashish Chandra in Bengaluru)

(([email protected]; +91 7982114624;))

** Shares of Colgate-Palmolive (India) COLG.NS jump 6.2% to a record high of 3,410 rupees

** The personal-care products maker is top gainer on Nifty FMCG index .NIFTYFMCG, which is up 0.4%

** Co posted a 33% rise in Q1 profit, sales rose 13%

** Analysts' avg. rating is "hold", median TP 2,800 - LSEG

** Stock last up 5.5%, set for fourth straight session of gains and taking YTD jump to 34.4%

** That is 2nd best on 15-member FMCG index, only trailing Varun Beverage's VARB.NS ~36% rise; index itself is up ~10%

** COLG's fwd PE of 54 is 6th lowest among index members, whose PE's range from VARB's 71.6 to Balrampur Chini BACH.NS 16.5

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected]))