Balrampur Chini Mills posted a good set of earnings in the third quarter as their distillery and co-gen business did well. Vivek Saraogi, MD of company, spoke to CNBC-TV18 about the financial performance.
"Ethanol is becoming a stable business with oil marketing companies (OMCs) buying full quantity. We are about 11.5 crore litre right now and in December end-first week of January, we are commissioning another distillery of about 5.76. So we will be 18 crore supplier from 11.5," Saraogi said on Tuesday.
On the business front, Saraogi said, “I do feel sugar year ’20 will be little better because even today we would be in a surplus, our production and consumption, the gap would be about at least 4-5 million. Hopefully that should have been exported, the minimum indicative export quota (MIEQ) with the loss has been given by the government but all mills are not participating. We are hoping that they do. If that happens then the inventory remains at last year’s level or it goes up.”
“However, next year I see a fall in production from these levels for sure,” he added.