Brazil sugar production down by 14% because of severe drought.India is the 2nd largest sugar producer followed by Brazil.
So a little postive news for sugar Comapnies based in India

@varinder_bansal Takeaway from the Q4 results #shreerenuka
1. Company has incurred losses on Q4 due to an exceptional item.
2. Cash from operating activities is negative.
3.Revenue from operations for this Q4 is down on QoQ basis
4. Company has incurred losses in year due to some exceptionalitem
@varinder_bansal Some positive news-
1.Revenue for operations from its ethanol segment has increased.
2.They will benefited from government scheme of MAEQ as Brazil production is down by 14%.
3.They will also receive incentives for ethanol blending so they have proposed to increase the capacity
@varinder_bansal From 720KLPD to 1400KLPD.
Government has a target of ethanol blending to 20% by 2025 against a current blending of 7.79%.So demand will be more and they will also incentives.
Company has raised around $300 million through ECB from its promoters.
So we can see a turnaround
@varinder_bansal Remember they are backed by a giant promoter and the capacity to 1400KLPD has been approved.#sugarind #shreerenuka @sanjiv_bhasin @varinder_bansal
@varinder_bansal @sanjiv_bhasin 1.We can see a target of ₹42 in coming sessions as there is no major supply zone till 42.
2.We can see a Golden crossover just forming with huge volumes.

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