Balrampur Chini Mills Hits Fresh 52-Week High In Trade On March 14, 2022

Balrampur Chini Mills shares in trade today spurted to a new 52-week high price of Rs. 515 after gaining 5.67%. This is the fourth consecutive day of gains for the stock during which it gained a huge 15.49%. As per the Angel One ticker, the stock underperformed the sector by 2.56%.

Long term drivers for the stock lies in the stock quality while taking about its recent quarterly results, the company's net profitability took a hit sequentially to Rs. 71.10 crore while this is a handsome gain over the YoY period, wherein Q3 net profit was at Rs. 22.40 crore. As per the leading online report, the company's CFO Pramod Patwari said the country's sugar exports would hit an all-time high this year, with the company looking to ship around 7.5 million tonnes.

Further in an interview to a leading business channel, the company is looking to increase its ethanol production capacity and the benefits of it would begin showing from the financial year 2024. "Our country's exports of sugar will be all-time high this year. India is looking at high production in excess of 33.5 million tonnes. We are looking to export around 7.5 million tonnes. Ethanol expansion will come on stream from November 2022. FY24 will get the benefit of the company's ethanol expansion," Patwari said.