Financial Performance Summary

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from Operations: ₹1,876.28 crore (up 12.3% from ₹1,670.76 crore)
  • EBITDA (excluding Other Income): ₹171.40 crore (up 42.4% from ₹120.40 crore)
  • Total Comprehensive Income (Consolidated): ₹104.06 crore (up 81.6% from ₹57.29 crore)
  • Total Comprehensive Income (Standalone): ₹97.77 crore (up 98.1% from ₹49.35 crore)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue from Operations: ₹3,513.07 crore (up 9.3% from ₹3,213.04 crore)
  • EBITDA (excluding Other Income): ₹285.33 crore (up 12.0% from ₹254.65 crore)
  • Total Comprehensive Income (Consolidated): ₹147.58 crore (up 35.8% from ₹108.66 crore)
  • Total Comprehensive Income (Standalone): ₹136.15 crore (up 47.5% from ₹92.28 crore)

Segment Performance Drivers

Sugar Segment:

  • Sugar segment PBIT increased by 166% to ₹140.75 crore in Q2FY27 compared to corresponding quarter last year
  • Strong volume growth coupled with improved realizations
  • Firm domestic prices helped offset cost pressures from ongoing West Asia crisis

Distillery Segment:

  • Performance affected by compressed margins due to non-revision of ethanol procurement prices despite significant increase in sugarcane price
  • Higher operating costs impacted distillery segment profitability

Market Outlook and Operational Context

Sugar Market Dynamics:

  • 2025–26 sugar season concluded with carryover stocks of ~3.6 MMT
  • Gradual increase in sugar consumption coupled with expected decline in sugar production in 2026–27 season likely to keep supply-demand balance tight
  • Production prospects in Maharashtra and Karnataka adversely affected by deficient monsoons and drought-like conditions
  • Uttar Pradesh expected to remain relatively stable due to better irrigation infrastructure
  • Government permitted duty-free imports of 1 MMT of raw sugar to ensure adequate availability and contain sharp price movements

Sugarcane Pricing:

  • Uttar Pradesh Government yet to announce State Advised Price (SAP) of sugarcane for current season
  • Industry profitability and cash flows remain closely linked to SAP announcement

Strategic Initiatives and Capital Allocation

PLA Plant Project:

  • 80,000 TPA Poly Lactic Acid (PLA) plant construction progressing largely on track
  • Expected commercial operations commencement in Q4FY27
  • Construction activities progressing at full pace in line with execution plans

Dividend Declaration:

  • Board declared interim dividend of ₹4.00 (400%) per equity share of Re. 1/- each

Company Overview

Balrampur Chini Mills Limited is one of the largest integrated sugar companies in India with:

  • Ten sugar factories in Uttar Pradesh with aggregate sugarcane crushing capacity of 80,000 TCD
  • Distillery operations capacity: 1050 KLPD
  • Co-generation operations capacity: 175.7 MW (Saleable)
  • Currently setting up India's first Poly Lactic Acid (PLA) plant of 80,000 TPA capacity

Management Commentary

Mr. Vivek Saraogi, Chairman and Managing Director, stated:

  • Company delivered strong performance during seasonally weak quarter
  • Integrated business model has enabled effective navigation of industry headwinds
  • Commitment to sustainable value creation by optimizing operations and maximizing value from every stick of cane
  • Future focus on judicious investments, strengthening integrated business model, and creating enduring stakeholder value