Vishwaraj Sugar signs pact with OMCs for additional 12 million litres of ethanol supply

The supply for additional amount of ethanol has already commenced.

Vishwaraj Sugar Industries Limited (VSIL) entered into an agreement with Oil Marketing Companies (OMCs) on June 26 for an additional supply of 12 million litres of ethanol during the period of June 2023 to November 2024.

This quantity is over and above the already supplied 20 million litres provided to VSIL during the period of December 2022 to May 2023.

VSIL has received purchase orders from Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOC)  as well as Hindustan Petroleum Corporation Ltd (HPCL). The supply for the aforementioned additional amount of ethanol has already commenced.

The small-cap sugar company reported a 52 percent on year rise in revenue for quarter that ended March at Rs 199 crore as against Rs 130 crore in the same quarter last year. The company also recorded a net loss of Rs 46.05 crore in the said quarter on account of deferred tax.