Balrampur Chini Mills Limited to set up new distillery unit

The Board of Directors of Balrampur Chini Mills Limited at its meeting held today, i.e. 4th November, 2020, have approved the setting up of a new distillery unit, thereby increasing the Capacity of its distilleries by adding 320 KLPD. With the proposed addition, the total capacity will stand augmented to 840 KLPD.

The existing capacity utilization of company's distilleries are at 97%.

The capacity expansion requires an outlay of Rs. 320 crores (approx) which will be funded through Banks-Project Loans (Rs. 220 crore) and the balance from internal sources (Rs. 100 crore).

The company is expanding capacity enthused by the Hon'ble Prime Minister's program of achieving higher ethanol blending coupled with recently announced higher Ethanol prices, the Company has decided to set up its 5th distillery at its Maizapur Unit.

The project will produce Ethanol directly from sugarcane syrup during the crushing season and from grains during off season.

Accordingly it is proposed that the Maizapur Unit of the Company will not be producing any sugar on commencement of the above distillery.

Shares of BALRAMPUR CHINI MILLS LTD. was last trading in BSE at Rs.151.2 as compared to the previous close of Rs. 153.7. The total number of shares traded during the day was 20155 in over 787 trades.

The stock hit an intraday high of Rs. 155.45 and intraday low of 149.75. The net turnover during the day was Rs. 3085346.

Source : Equity Bulls

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