Dwarikesh Sugar Industries jumped 9.35% at Rs 104.70 after the company announced the commissioning of 175 kilo litre per day distillery at its Faridpur unit in Bareilly district in Uttar Pradesh.
The plant was commissioned on 24 June 2022 and will use cane juice syrup and 'B' heavy molasses as feedstock to produce ethanol. The company's total distillery capacity now stands at 337.5 kilo litre per day. It will result in recalibration of its revenue stream. While ethanol production will be doubled, sugar production will be moderated, the company said.The distillery is based on cutting edge technology which will result in zero liquid discharge. The plant will be fully compliant of rigorous pollution emission norms, thus strengthening the company's ecological relevance.
Dwarikesh Sugar Industries is engaged in the business of manufacture and sale of sugar co-generation of power and industrial alcohol.
The company's net profit surged 23.6% to Rs 59.61 crore despite of a 20.8% fall in net sales to Rs 474.96 crore in Q4 FY22 over Q4 FY21.
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