Tulsian told CNBC-TV18, "Just get out of any sugar stocks. One would have seen Balrampur Chini Mills posted about Rs 56 crore losses in Q1; in fact after setting of the Deferred Tax Credit, which is a non-cash item, the losses have fallen maybe to about Rs 47 crore. In fact these losses would have been much more if the company would not have been able to set of the profits of distillery and cogent against the sugar segment."
He further added, "The kind of performance have been shown by all the companies mainly UP based sugar mills this is the better performance; these losses would have been much higher if any other group would have had this kind of capacity. So my advice is get out of all sugar stocks they are not going to have any relief at least for the next two-three quarters and unless and until the UP Government opts for the SNP instead of SAP (State Advised Price) in the coming season. So clear advice to the investors in Balrampur Chini that get out and book your losses."
