Balrampur Chini Mills announced that it has commenced commercial production of industrial alcohol in its new distillery at Maizapur Unit, on 16 November 2022.
This unit has a capacity of 320 kilo litre per day (KLPD). With this addition, the total distillation capacity of the sugar manufacturer stands at 880 KLPD.The company said that further 170 KLPD at Balrampur unit is under process for implementation.
Balrampur Chini Mills is one of the largest sugar producers in India. The operations of the company are forward integrated, manufacturing alcohol (using molasses, a byproduct of sugar) and power (using cogeneration from bagasse, another byproduct of sugar manufacturing).
The company reported a consolidated net loss of Rs 28.95 crore in Q2 FY23 as against a net profit of Rs 83.10 crore in Q2 FY22. Net sales declined 8.3% year on year to Rs 1,113.10 crore in the quarter ended 30 September 2022.
The scrip slipped 1.05% to currently trade at Rs 349.85 on the BSE.
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