SUGAR BUSINESS
Government incentives and interventions have helped India’s sugar industry in becoming self-sustainable. Aided by the various Government schemes, such as timely export schemes, sugar release quota mechanism, minimum sale price (MSP) etc., India has become the largest sugar producer in the world. The sustained Government push for the Ethanol Blended Petrol (EBP) programme has further contributed to driving sustainability for the sugar industry.
These developments have catalysed new opportunities for the industry players. As a leading integrated corporate, we have successfully maximised these opportunities to scale our efficiencies in the Sugar business. We have harnessed our experience, expertise and close farmer relations to improve productivity and margins through investments in modernisation, debottlenecking and digitisation.
In FY 23, we completed CapEx projects worth ₹130 crore, which were announced in FY 22. We further initiated new CapEx projects for a total of ₹175 crore. The projects are aimed at plant modernisation and increase in production of more premium products, such as refined and pharmaceutical sugar, to achieve higher sugarcane crush and higher percentage of refined sugar.
(For more details on the investments and initiatives of FY 23, please refer to the Management Discussion and Analysis section of this Report).
We operate seven state-of-the-art sugar units, located strategically in the sugarcane-rich areas of Uttar Pradesh. The units are FSSC 22000 certified, with strict compliance to the most stringent quality benchmarks and best-in-class manufacturing processes.
Refined sugar for high-grade end users
Various grades of pharmaceutical sugar, which can be customised as per user requirements
Multinational soft drink companies
Confectionery manufacturers
Breweries
Pharmaceutical companies
Dairies and ice cream producers
We also supply high-quality crystal sugar from some of our non-refinery units to large institutions, which fetches a premium for the Company.
Record sugarcane crushed
Gross sugar recovery*
Revenue from Power export
Sugar produced
Net sugar recovery
Farmer Network
Sugar exported
Average blended realisation
Area under Sugarcane
Gross Revenue
PBIT
Sugarcane crushed, Sugar produced & Recoveries pertain to Sugar Season (SS) 2022-23 * Gross Recoveries after adjustment on account of B-heavy molasses
We have been consistently partnering the sugarcane farmers in our catchment areas through a multi-pronged development strategy. Our farmer engagement programmes are focussed on variety substitution and yield maximisation as a way to improve quality cane availability and margins, while raising the bar of sustainability.
