Sugar Firms

India is not looking at allowing more sugar exports, government and industry officials said on Thursday

UP govt is trying to integrate the sugarcane crop with lucrative ethanol value chain in order to provide fair prices to the farmers and protect the sector from the cyclical nature of the sugar market

The 20% ethanol blending target has seen sugar sector majors betting on expanding the ethanol capacity; the sector could see an investment of about Rs 10,000 crore in the years ahead

ISMA estimates that the diversion of cane juice and B-molasses to ethanol shall cut sugar production by about 4.5 mt during the next marketing year.

Bajaj Hindusthan badly needs money to shore up its operations but its NPA tag to make raising funds difficult

Bajaj Hindusthan has defaulted to banks, UP farmers; says restructuring proposal is in accordance with RBI circular of June 7, 2019

Total income increased to Rs 1,291.37 crore in the fourth quarter of the last fiscal. It stood at Rs 1,027.24 crore in the corresponding period of the previous year

The Centre has issued guidelines for restructuring of loans taken by mills from the Sugar Development Fund (SDF), providing a moratorium for two years and then repayment in five years to eligible defaulting factories. The total outstanding default from the SDF is nearly Rs 3,100 crore, including principal and interest, according to an official statement issued on Wednesday. On January 3, the Department of Food and Public Distribution issued guildelines "for restructuring of SDF Loans under Rule 26 of the SDF Rules 1983". The guidelines for restructuring has been issued to "facilitate rehabilitation of financially weak but economically viable sugar mills which have availed loans under the Sugar Development Fund Act, 1982". The department said guidelines have provision for a "two-year moratorium and then five years of repayment". This is expected to provide big relief to financially weak sugar mills which have availed SDF loans, the department said. "The outstanding amount of defau

Recovery certificates to the groups, strict action against them on the cards

The combined market capitalisation (m-cap) of the country's top 15 sugar manufacturers was down 2.8 per cent on average on Friday

Standalone revenue flat at Rs 439 cr, consolidated up 15%

Cultivators from Sanguem and Quepem talukas take their sugarcane for crushing in this factory, which stopped functioning two years ago in view of losses that have mounted to Rs 100 crore

He also said there is a greater need for developing flexi sugar factories producing sugar and ethanol as per relative economics and market demand

The new tender was floated because the first one for procurement of 5.11 billion litres of ethanol, issued in August last year, was vastly under-bid

Reducing sugar surplus, rising ethanol procurement, and potential for exports bode well

A high-powered industry delegation from major sugar producing countries is expected to come to India in the next few weeks to press their views

While the hike improves the realisation of beleaguered mills, with outstanding for current 2018-19 crushing season rising to almost Rs 22,000 cr, it remains below average production cost

The government of Maharashtra is targeting mills in Kolhapur and Sangli districts where arrears kept mounting

Missed 2018 target by 80%, sugar mills lower supply on delay in recovery of subsidy amount resulting into fear of working capital blockage

The penalty was imposed by the commission at 7 per cent of the average relevant turnover of the sugar mills