CNBC-TV18 learn from sources that the cabinet is likely to have given a nod for a revision in ethanol price. In an interview to CNBC-TV18, Vivek Saraogi, MD of Balrampur Chini Mills discussed the impact.
Balrampur Chini Mills posted a steady set of earnings in Q1 as the sugar business saw strong revenue growth and steady margins but the co-gen and distillery business margins took a hit. In an interview to CNBC-TV18, Vivek Saraogi, MD, Balrampur Chini Mills spoke about the results and his outlook for the company.
Balrampur Chini Mills posted Q2 earnings in line with other sugar companies but the big takeaway is that the board has approved a tender buyback of shares.
The company is aiming for higher ethanol sale and reducing debt in FY17, says Vivek Saraogi, MD of Balrampur Chini.
A mix of factors, such as better recoveries, government's mandatory export quota, alcohol duty waivers and more power purchase agreements signed, are leading to better business prospects for the sugar industry, says Vivek Saraogi of Balrampur Chini.
Balrampur Chini posted weak set of quarterly earnings Wednesday, with net loss widening from Rs 4 crore to Rs 72.7 crore.
Balrampur Chini Mills‘ third quarter net loss stood at Rs 65.7 crore against loss of Rs 50.8 crore, Y-o-Y. The company‘s total income rose by 21 percent at Rs 841.7 crore versus Rs 690.7 crore.
In an interview to CNBC-TV18, Vivek Saraogi, managing director, Balrampur Chini shares his views on the company‘s earnings.
Balrampur Chini, Reliance Communication are a miss whereas Apollo Tyres, Central Bank, Essar OIl are a hit for SP Tulsian.
The poll expects the sugar major‘s margins at 26.4% versus 33.5% in the comparable quarter last year.
Balrampur Chini sold 26.7 lakh bags of sugar in the third quarter and their opening inventory stands at 15 lakh bags of sugar.
Uttar Pradesh-based sugar company Balrampur Chini is likely to turn profitable with the net at Rs 32 crore in the third quarter of financial year 2012-13 as against net loss of Rs 64 crore in a year ago period, according to CNBC-TV18 poll.
Vivek Saraogi, MD, Balrampur Chini explains to CNBC-TV18 that above-average volumes and high price-realisation enabled the company to post positive results. However, its co-generation unit posted a loss due to non-generation of electricity during the monsoon quarter.
Country's second largest sugar producer Balrampur Chini will declare its second quarter numbers of current financial year today. Analysts on an average expect the company to report a net profit of Rs 37 crore for the quarter as against net loss of Rs 39.4 crore in a year ago period.
Vivek Saraogi, managing director of Balrampur Chini told CNBC-TV18 from August onwards the company could realize an average of Rs 34-35 per kg. Its inventory as of July stands at 46.6 lakh bags including levy.
Uttar Pradesh-based sugar company Balrampur Chini is set to announce its results for the quarter ended June 2012. Analysts on an average expect the company to post a profit of Rs 18 crore during the quarter as against loss of Rs 19.9 crore in a year ago period, but the profit is likely to fall by 86% quarter-on-quarter.
Vivek Saraogi, managing director, Balrampur Chini told CNBC-TV18 that a slight firming up of domestic sugar prices has been seen. "I don‘t expect it to go up on a runaway level but it is a little better."
Balrampur Chini is to announce its fourth quarter results. According to CNBC-TV18‘s estimates, the company‘s Q4 sales are seen up 20.4% at Rs 565 crore versus Rs 469.3 crore.
Vivek Saraogi, managing director, Balrampur Chini says, at the current realisation, the sugar division costing is not yet positive. “Sugar division is making loss of Rs 2 per kilogram at the current prices.”
Balrampur Chini, one of the largest sugar manufacturing companies, is expected to report a profit after tax of Rs 18 crore in the third quarter of FY12 as against loss of Rs 39.4 crore in the previous quarter.
Balrampur Chini's MD, Vivek Saraogi indicated that they are planning to move the Lucknow High Court in a couple of days on the SAP cane prices. However, he pointed out that the second half realisations would be much better for this year.
Balrampur Chini is expected to report a loss of Rs 20 crore in the second quarter of FY12 as against loss of Rs 78.3 crore in the corresponding quarter of last fiscal.
Vivek Saraogi, MD, Balrampur Chini Mills spoke to CNBC-TV18 about his company's performance and the sugar industry in general.
Balrampur Chini Mills is set to announce its results for the quarter ended December 2010. It was the fifth quarter of the company as it has been changing accounting year from September to March.