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Buy Dhampur Sugar; target of Rs 270: ICICI Direct

ICICI Direct is bullish on Dhampur Sugar recommended buy rating on the stock with a target price of Rs 270 in its research report dated February 01, 2023.

February 02, 2023 / 03:31 PM IST
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ICICI Direct's research report on Dhampur Sugar

Dhampur Sugar (DSL) is one of the integrated sugar companies in UP with sugar crushing capacity of 23,000 tonnes crushed per day (tcd), distillery capacity of 250 kilolitres per day (KLD) and 121 MW of co-generation capacity. It also has ethyl acetate production capacity of 140 tonnes per day. Dhampur Sugar is expanding its distillery capacity by 130 KLD, which includes 100 KLD fungible grain-based distillery. Post expansion, it would be able to produce 15 crore ethanol per annum at peak capacity utilization.


We assign BUY rating on the stock. We value the stock at Rs 270, valuing the business at 10x FY24 PE.

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Dhampur Sugar - 01 -01-2023 - ic

Broker Research
first published: Feb 2, 2023 03:31 pm