Event Type: The document is a transcript of a post-results earnings conference call for Q2 FY27, hosted by 360 ONE Capital Market Private Limited.
Event Date & Time: The conference call was held on 5th November 2026. A specific start time was not mentioned in the transcript.
Purpose: The purpose was to discuss the company's operational and financial performance for the second quarter of FY2027 (Q2 FY27).
Management Participants: The management participants were Mr. Vivek Saraogi (Chairman and Managing Director), Ms. Avantika Saraogi (Executive Director), and Mr. Pramod Patwari (Chief Financial Officer).
Availability of Materials: The transcript was made available on the company's website at https://chini.com/investors/concall-transcript/ following its filing with the exchanges on 11th November 2026.
UPSI Statement: The call included a standard disclaimer that some statements may be forward-looking, but there was no explicit statement confirming that no Unpublished Price Sensitive Information (UPSI) would be shared.
Financial & Operational Highlights from the Call
Financial Period Discussed: Q2 FY27 (Quarter ended September 2026).
Sugar Segment Performance: Sugar segment PBIT increased by 166% Year-on-Year (YoY) to INR 140 crores, attributed to strong volumes and improved realizations.
Dividend Declaration: The board declared an interim dividend of INR 4 per equity share.
Distillery Segment: Margins were compressed due to no revision in ethanol procurement prices over the last three years, despite a 16% increase in Fair and Remunerative Price (FRP) for sugarcane.
PLA Project Update: The 80,000 TPA Polylactic Acid (PLA) project is on track, with commissioning expected in November 2026. Approximately INR 2,400 crores had been spent on the project as of 15th October 2026. The company has secured its first institutional order from the government for a PLA-based product.
Sector Outlook: The 2025-26 sugar season ended with a closing stock of 3.6 million tonnes. For the 2026-27 season, production is expected to decline, particularly in Maharashtra and Karnataka due to El Niño, while UP production is expected to be stable. Management anticipates a need for 2.5 to 3.5 million tonnes of sugar imports to maintain comfortable inventory levels.
Cane Price Impact: Management indicated that every INR 10 increase in cane price would result in an incremental raw material cost of INR 100 crores for the company, based on an estimated crush of 10 crore quintals.
Ethanol Production Guidance: For the current ethanol year, total production is guided to be between 18-20 crore litres, comprising ~8-9 crore litres from C-heavy molasses, ~3 crore litres of ENA, and the rest from grain (maize/rice).
Crushing Season Outlook (FY27): The company expects its cane availability to be ~2% lower than the previous year's crush of 10.4 crore quintals. Initial recovery is also expected to be lower.
Additional Notes Section
Attachment: The regulatory filing enclosed the transcript of the conference call (Encl: A/a).
Financial Data: The summary includes financial data (PBIT growth, dividend, capex) and operational guidance that was discussed during the earnings call.
