The sector is in the sweet spot due to structural changes, thanks to various government initiatives which ensure the financial position of the companies remains healthy.
Dalmia Bharat Sugar and Industries, Dhampur Sugar Mills and Triveni Engineering advanced 4 per cent each to Rs 437.80, Rs 319.70 and Rs 185.50, respectively.
Dalmia Bharat Sugar & Industries soars on planning to set up grain-based distilleries for ethanol production - Udaipur News | Udaipur Latest News udaipurkiran.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from udaipurkiran.com Daily Mail and Mail on Sunday newspapers.
Read more about Sugar shares rally; Dalmia Bharat, Triveni, Dwarikesh zoom up to 19% on Business Standard. On World Environment Day (June 5), Prime Minister Narendra Modi announced that the target of 20 per cent ethanol-blended petrol has been advanced by five years to 2025
On a consolidated basis, Dalmia Bharat Sugar and Industries net profit fell 16.28% to Rs 51.86 crore on 11.26% decline in net sales to Rs 488.80 crore in Q4 March 2021 over Q4 March 2020.
During the quarter, the profit was lower due to higher tax provision and revenue was impacted due to late announcement of export policy for the current sugar season. Majority of export contracts for Secretarial Standards (SS) 2021 will get executed during the next financial year.
Profit before tax gained 7.89% to Rs 77.47 crore in Q4 FY21 as against Rs 71.80 crore in Q4 FY20. EBITDA jumped 24% to Rs 139 crore in Q4 March 2021 as against Rs 113 crore in Q4 March 2020.