Sugar stocks will be in focus today as the government has scrapped export duty of raw and refined sugar to boost shipments. In an interview to CNBC-TV18, M Manickam, Executive VC of Sakthi Sugars spoke at length about the sector.

Govt is taking steps to stabilise the sugar price: Sakthi Sugars

In an interview with CNBC-TV18, M Manickam, Executive VC at Sakthi Sugars spoke about the production rise in sugar and its impact on the company and the industry.

If UP and TN go by the FRP pricing, it will be a benefit for industry: Sakthi Sugars

"If the government of India will put its foot down and say that FRP is going to be the only price, it will be very good news for the industry", M Manickam, Executive Vice Chairman of Sakthi Sugars told CNBC-TV18.

GoI has asked cos to sell excess inventory: Sakthi Sugars

M Manickam, Executive Vice Chairman of Sakthi Sugars says that this has happened likely because India plans to be a sugar importer next year, which is leading to a shortage.

India should conserve sugar stock to deal with shortage: Sakthi

Reacting to this development M Manickam, Executive VC of Sakthi Sugar said told CNBC-TV18 that the government is worried about the rising price and wants to keep it in range of Rs 35-36 per kg.

Prices may remain firm for 2 yrs on supply lack: Sakthi Sugars

For every Re 1 increase in sugar prices, the company‘s earnings improve by nearly Rs 20 crore, he says. Currently, sugar prices are around Rs 34-35 per kilogram, which is breakeven level for sugar companies and anything above this price proves to be profitable, he adds.

Export duty unlikely to pressure sugar prices: Sakthi Sugars

Industry will be in a position to come back to shape if prices stay between Rs 35 & 40 a kg and most of the balance sheets will recover by next year, says M Manickam, Executive VC of Sakthi Sugars, in an interview to CNBC-TV18.

Govt unlikely to impose stock limits on manufacturers: Sakthi

"The stock limits and squeezing the pipeline will only be a temporary measure," M Manickam, Executive VC of Sakthi Sugars said.

Co's net worth to grow Rs 160 cr post loan restructure: Sakthi

The restructuring includes loans worth Rs 61 crore to be converted into equity and remission of liability worth Rs 102 crore, says M Manickam, Executive VC of Sakthi Sugars.

'First time, govt is acknowledging there is shortage of sugar'

Media reports are abuzz that the central government has asked Maharashtra government to impose a limit on water-guzzling sugarcane crop -- in order to help fight the state's crisis drought situation.

Need Rs 34/kg sugar price to be able to pay liablities: Sakhti

In an interview with CNBC-TV18, M Manickam, Executive VC of Sakthi Sugars said that the prices need to rise to a level of Rs 34 per kg or more in order for the industry to pay off liablity accumulated in the last 4-5 years.

Sakthi Sugars settles $11.7mn worth of FCCBs at 65% value

Sakthi Sugars has reached a settlement with bondholders with respect to foreign currency convertible bonds (FCCBs) worth USD 11.7 million, in which it would pay its lenders about 65 percent of the bonds face value.

Ehanol run vehicles would be a welcome step: Sugar industry

The Road Minister Wednesday suggesting it is possible to manufacture vehicles that could run entirely on ethanol. Reacting to the news, M Manickam, MD, Sakthi Sugars said vehicles are run on ethanol it can be extremely beneficial in terms of reducing pollution in metros.

Sugar prices to go up, losses to narrow: Sakthi Sugars

Speaking to CNBC-TV18, M Manickam, Executive VC, Sakthi Sugars said that performance of power business is also sustainable.

May not convert pending FCCBs into equity: Sakthi Sugars

The original conversion price was at Rs 275 per stock but because the market value is much lower, people will probably go for redemption says M Manickam, Executive Chairman, Sakthi Sugars.

India looks to barter surplus 4 MT sugar

M Manickam, MD, Sakthi Sugars, says this is good news for the industry. For the next year, the industry is looking at production of around 28 million tonne with consumption at 25 million tonne.

Glad govt is looking at sugar sector: Sakthi Sugars

M Manickam of Sakthi Sugars says mills may be in a position to clear Rs 4,000-5,000 crore, with their own resources. So, this Rs 6,000 crore will be an addition.

See no pick up in sugar prices for 6 months: Sakthi Sugars

According to M Manickam, executive VC, Sakthi Sugar, sugar prices are unlikely to go up because of excess sugar supply.

See no material benefit on sugar export sops: Sakthi Sugars

The food ministry has cleared the proposal of raw sugar export subsidy of Rs 560 crore and the Cabinet will be taking a call on the same next week.

Hope to bring down debt to Rs 400 cr: Sakthi Sugars

Sakthi Sugars' current debt is around Rs 600 crore and plans to bring it down to Rs 400 crore.

Sugar production likely to fall below 23 mn tonne: Sakthi

Sugarcane payment dues of farmers have crossed Rs 12,000 crore. Out of this, Rs 8000 crore pertains to Uttar Pradesh and Rs 3000 crore for Karnataka alone as on date.

10% ethanol blending no solution, hike sugar prices: Sakthi

Speaking to CNBC-TV18, M Manickam, managing director, Sakthi Sugars, says until cane prices are fixed at parity, the hike on blending limit will not make a big difference.

Hike in import duty won't improve realization: Sakthi Sugar

M Manickam, MD, Sakthi Sugars speaks about impact of hike in import duty on sugar factories.

Allow price hike for struggling sugar cos: Sakthi Sugars

M Manickam, managing director, Sakthi Sugars also expresses concern over rising disparity in raw material and finished products price. He complained about the government not taking major steps to increase sugar price.

Sakthi Sugars hails decontrol; sees low production next yr

M Manickam, MD, Sakthi Sugars said government‘s decision to clear proposal for sugar decontrol is a welcome move.