Shree Renuka Sugars posted an EBITDA loss due to higher expenses. In an interview to CNBC-TV18, Narendra Murkumbi, VC & MD of the company spoke about the results and gave his outlook.
He expects 30-35 percent increase in cane production in FY18.
He also expects prices to be steady till festive season.
On Brazilian unit front, he said that they have launched a formal auction process for one of their Brazilian subsidiary.
He expects strong response from Brazilian players for the unit.
In terms of reserve price, they are expecting around Rs 1,800 crore from the sale of Brazilian unit.
Watch accompanying video for more details.
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