This sugar firm intends to increase its ethanol production by double
Stock of Shree Renuka Sugars increased by 9.20%.
The stock rose 9.20% today on the BSE from its opening price of Rs 54.60 to its high of Rs 59.95. Its 52-week high and low are Rs 63.25 and Rs 24.45, respectively.
The business intends to increase its ethanol production capacity phasis on ethanol biofuel production. After spending Rs 700 crore, the ethanol capacity will almost double.
Shree Renuka Sugars Ltd is an agricultural and bioenergy company operating throughout the sugar value chain. It creates ethanol, power, sugar, and other things. The business produces sugar using cutting-edge, fully integrated sugar mills. By-products including molasses, bagasse, and press mud are also used to create products with added value. The company operates two port-based sugar refineries with a combined capacity of 5,500 TPD and six mills in India with a combined capacity of 36,500 TCD.
The company has a 567 million Kwh capacity for power generation, 49% of which is consumed captively inside of its plants, while the remaining power is sold to the state electrical grid. Because a large portion of its cogeneration process is powered by renewable energy, there are fewer greenhouse gas emissions as a result.
Its distilleries produce ethanol that can be combined with gasoline and alcohol that is fit for human consumption. It can produce 730 kg of liquid every day (KLPD). Through its subsidiary, KBK Chem Engineering, it also offers complete distillery, ethanol, and specific sugar processing equipment and biofuel plant solutions.
In the June quarter of FY22, the company generated revenue of Rs 1901 crore. The company has a market value of Rs 12632 crore and the stock is now trading at a PE of Rs 48.61.
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