ICICI Direct's research report on Dwarikesh Sugar
Dwarikesh Sugar (DSL) is a UP based sugar company with sugar crushing capacity of 21500 TCD, distillery capacity of 337.5 KLD & co-generation capacity of 96 MW. The company would be diverting 15-20% of sugarcane towards juice ethanol & remaining towards B-heavy ethanol, which would result in 1.4 lakh tonnes (lt) of sugar equivalent sugarcane diversion towards ethanol.
Outlook
We maintain our BUY rating on the stock. We value the stock at Rs 120, valuing the business at 12x FY24 PE.
For all recommendations report, click here
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