Pramod Patwari, CFO at Balrampur Chini Mills, said on Monday that India’s sugar exports will be at an all-time high this year and that financial year 2024 would see the benefit of plans to raise pan-India ethanol production capacity.
Balrampur Chini Mills is aiming at having one-third of the revenues from ethanol with expansion, said Patwari, adding that the company is looking at 36.4 mt of sugar production for the current season.
“Ethanol expansion will come on stream from November 2022,” he said in an interview with CNBC-TV18.
Sugar realisation has gone up by Rs 35 per kg, according to Patwari, who said that the sugarcane availability is on the lower side this time.
The company is looking at a turnover of Rs 5,600-6,000 crore in FY24 and expect sugar prices to remain firm.