Balrampur Chini Mills Limited – Investor Presentation Summary

Key Operational Highlights

  • Sugar crushing capacity: 80,000 TCD across 10 plants in Uttar Pradesh
  • Distillery capacity: 1,050 KLPD
  • Co-generation power saleable capacity: 175.7 MW
  • Refinery capacity: ~53% of 80,000 TCD (approximately 42,400 TCD)
  • PLA bioplastic plant capacity: 250 TPD (80,000 TPA) under implementation
  • FSSC 22000 certification achieved for Mankapur, Rauzagaon and Kumbhi plants

Segment-wise Performance

Segmental Revenues (FY26, Rs. Cr.):

  • Sugar: ₹4,263
  • Distillery: ₹433
  • PLA: Not operational yet
  • Others: ₹811

Segmental PBIT (FY26, Rs. Cr.):

  • Sugar: ₹1,721
  • Distillery: ₹469
  • PLA: Not operational yet
  • Others: ₹489

Segment Revenue from non-sugar (FY26): 24.2%

PBIT from non-sugar (FY26): 26.9%

Financial Highlights

Standalone Financials (FY26):

  • Revenue: ₹5,507 crore
  • PAT: ₹426 crore
  • EBITDA: Not explicitly stated
  • EPS: Not explicitly calculated
  • Capital Employed: Increased due to ongoing PLA Project

5-Year Financial Trend (Standalone):

  • FY22 PAT: ₹501 crore
  • FY23 PAT: ₹304 crore
  • FY24 PAT: ₹469 crore
  • FY25 PAT: ₹397 crore
  • FY26 PAT: ₹426 crore

Profitability Ratios (FY26):

  • Return on Capital Employed: 14.5%
  • Return on Net-worth: 11.3%

Geographical Revenue Split

Not specified in the presentation

Balance Sheet Snapshot

As of 31st March 2026:

  • Long-term borrowings for existing business: ₹97.50 crores
  • Long-term borrowings for PLA business: ₹903.00 crores (₹963.00 crores as on 7th May 2026)
  • Credit ratings: CRISIL AA+/Stable (long-term), A1+ (short-term); India Ratings IND AA+/Stable (long-term), IND A1+ (short-term)

Capex & Cash Flow Health

FY26 Cash Flow (Rs. Cr.):

  • Cash from operating activities: ₹599.47
  • Cash used in investing activities: ₹(946.66)
  • Cash from financing activities: ₹347.28
  • Cash & equivalents: ₹0.44

PLA Project Financing:

  • Availed long-term debt of ₹508.00 crores during FY26 for PLA capex
  • Eligible for interest subvention @5% for seven years under U.P. Bioplastic Industrial Policy, 2024
  • Repayment of term loan to commence from Q3 FY29 payable in 20 equated quarterly installments

Strategic & R&D Initiatives

PLA Bioplastic Project:

  • Diversifying into India's first industrial bio-polymer plant for Poly Lactic Acid production
  • Strategic alignment with Make in India Initiative and Swachh Bharat Abhiyan
  • Future option to use rice, corn or other starch-based raw materials
  • Creating new revenue stream with value-added products

Key PLA Properties:

  • Crystallinity: Can be amorphous/transparent or crystalline/heat resistant
  • Melting point: 180°C (high optical purity), 155°C (cold application)
  • Glass transition temperature: 55-60°C
  • High-strength, high-modulus thermoplastic
  • Processable via injection molding, extrusion, blow molding, 3D printing
  • Lower energy consumption compared to other plastics

Industry Trends & Business Environment

Government Policy Interventions:

  • FRP for SS 2025-26: ₹355/quintal (from ₹340 previous season)
  • FRP for SS 2026-27: ₹365/quintal
  • SAP for SS 2025-26: ₹400/quintal for early variety (increased by ₹30)
  • MSP of sugar: ₹31/kg (unchanged since February 2019)
  • Export quota for SS 2025-26: 1.58 million tons (ban imposed on 13.05.26)
  • GST of 5% on ethanol

Ethanol Blending Program:

  • 20% ethanol-blending target achieved during ESY 2025-26
  • All retail outlets of PSU OMCs across mainland India now dispensing E20 petrol
  • Ethanol procurement by OMCs: 515.0 crore litres in 2025-26

Global Sugar Outlook:

  • Global production 2025-26 estimated at 184.3 MMT
  • Higher production from India, Thailand & China
  • Global raw sugar price range: ~13.48-19.59 c/lb (April 2025-9th May 2026)

Management Commentary & Growth Outlook

Company Expectations:

  • Increase prices of juice, B-heavy based ethanol in line with FRP hike
  • Revision upward of minimum selling price of sugar in view of FRP increase

Strategic Outlook:

  • To retain position as one of the "greenest" companies in India's sugar sector
  • Sustainable products basket: Ethanol, co-generation power, PLA bioplastic
  • Engagement with ~5.5 lakh farmers supporting income growth

ESG & Enhanced Stakeholder Value

ESG Performance:

  • GHG emissions FY 2024-25: 0.76 million tCO2e
  • Direct emissions reduction through biomass use: ~2.5 million tCO2e
  • Sugarcane sequestered: approximately 4.07 million tCO2e
  • Scope 3 emissions: ~0.71 million tCO2e

ESG Ratings:

  • NSE Sustainability: 72
  • SES: 70.9
  • CRISIL: 62

CSR Initiatives:

  • 33 schools covered for infrastructural support
  • 35 schools with Mobile Science Lab exposure
  • 2 ITIs supported
  • ~22,000+ students impacted
  • 200+ women provided livelihood opportunities
  • 5,204 farmers supported with equipment & training
  • 33 water bodies rejuvenated
  • 1,29,995 trees planted

Awards & Recognition:

  • Excellence in BRSR Reporting Award at 4th ICAI Sustainability Reporting Award 2024-2025
  • Golden Peacock Award for Corporate Social Responsibility – 2025
  • National Energy Conservation Award presented by President of India [2024]
  • LACP Spotlight Award, 2024 Silver Category for Integrated Annual Report

Dividend & Shareholder Returns

Dividend Track Record:

  • FY20-21: 250% (₹2.50/share) - ₹52.50 crore payout
  • FY21-22: 250% (₹2.50/share) - ₹51.01 crore payout
  • FY22-23: 250% (₹2.50/share) - ₹50.84 crore payout
  • FY23-24: 300% (₹3.00/share) - ₹60.52 crore payout
  • FY24-25: 300% (₹3.00/share) - ₹60.57 crore payout
  • FY26: 350% (₹3.50/share) - ₹70.68 crore payout (interim)

Share Buybacks:

  • Last 10 years: Six share buybacks worth ₹1,009.49 crore
  • Cumulative dividend payout: ₹655.20 crore (including DDT of ₹52.46 crores)

Market Snapshot

As on 08-May-2026:

  • CMP: ₹522.75
  • Market Cap: ₹10,556.96 crore
  • Outstanding shares: 20.20 crore
  • Face Value: ₹1.00
  • 52-week High/Low: ₹627.80/₹393.55

Top 10 Non-Promoter Shareholders (31st March 2026):

  • SBI Mutual Fund: 6.19%
  • Nippon Life India Trustee Ltd: 5.60%
  • Aditya Birla Sunlife Trustee Private Limited: 2.56%
  • Kotak Mutual Fund: 2.16%
  • HSBC Mutual Fund: 2.10%
  • Axis Mutual Fund: 1.45%
  • Bank of India Flexi Cap Fund: 1.21%
  • Ishares Core MSCI Emerging Markets ETF: 1.06%
  • Tata Mutual Fund: 1.00%
  • Quant Mutual Fund: 0.94%