India has a cushion to export an additional 1 million tonnes of the sweetener if the domestic output reaches an estimated 33.6 million tonnes this year
Tarun Sawhney, MD & vice-chairman of Triveni Engineering, a leading sugar producer with growing emphasis on biofuels, tells S Dinakar sugar prices will be stable and on a slightly upward trajectory
Rallying energy markets, tight sugar availability, COVID lockdowns in China and logistical issues from the fallout of Russia's military invasion of Ukraine have led to uptick in spot sugar prices.
Triveni Engineering and Industries Ltd has reported a 37% rise in its consolidated net profit to Rs 130.12 crore for the December 2021 quarter on higher revenue
Shares of Triveni Engineering hit a new high of Rs 285.30, on rallying 9 per cent in intra-day trade. The stock zoomed 313 per cent from its 52-week low of Rs 69 touched on February 16, 2021.
According to CRISIL, sugar mills are expected to see both revenue and profitability improve in the 2022 season (SS 2022; October 2021 to September 2022).
Tight global demand-supply situation, favourable government policies and continuous push for higher blending will keep the inventory levels under control and sugar prices firm
According to ICRA, sugar companies are expected to strengthen in FY2022 with expansion in operating profits in addition to sugar inventory reduction and hence curtailment of working capital debt.
