SP Tulsian bullish on sugar space

Excerpts from Bazaar on CNBC-TV18 Watch the full show » Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

Investment Advisor SP Tulsian is bullish on sugar space.

Tulsian told CNBC-TV18, "I am quite bullish on the sugar sector but I am really disappointed with the Dhampur Sugar results. The bottomline is Rs 14 crore for the quarter and for the full year it is Rs 56 crore, that means you have identical bottomline coming in all the four quarters and the surprisingly the company has not provided for tax liability in their audited statements account. I am unable to understand that even if they have accumulated loss there should have been some tax liability. So I am not convinced, they have sold out 9 lakh bags of sugar at an average price of 28 and that should have given them a very good profit, they had liquidated stock of about Rs 183 crore, the decrease in the stock is to that extent. So the calculation which I had made and was expecting PAT to be about Rs 36-40 crore. I am bullish on the sector but disappointed with Dhampur results."