Balrampur Chini Mills Limited has announced its financial results for the third quarter and nine months ended December 31, 2025.
Strong Operational Performance in Q3 FY26
BCML delivered a healthy performance during the quarter, reporting improved distillery volumes and better realizations in the sugar segment.
Commenting on the results, Mr. Vivek Saraogi, Chairman and Managing Director, Balrampur Chini Mills Limited, said:
“During the quarter, the sugar segment delivered strong performance, driven by improved realizations despite the increase in SAP of sugarcane from Rs. 370 per quintal to Rs. 400 per quintal, which led to higher production costs.
The distillery segment delivered stable performance driven by higher volumes. However, the absence of revision in ethanol prices resulted in a decline in margins.
Sugarcane crushing during the quarter was approximately 8.4% higher at 387.6 lakh quintals owing to the early start of a few plants and better capacity utilization. Gross sugar recovery (C-heavy terms) improved marginally by 8 basis points to 10.63%. Despite a decline in sugarcane area, crushing for the Company is expected to be higher due to additional area allotted by the State Government.”
India’s net sugar production (post diversion to ethanol) is estimated at 28.8 MMT, up approximately 10.3% from 26.1 MMT in the previous season. The Government has announced an export quota of 1.5 MMT for the season. Considering domestic consumption and exports at 29.2 MMT, closing stock is expected to be around 4.6 MMT as on September 30, 2026, indicating a drawdown from last year’s opening inventory of 5 MMT.
On the policy front, concerns regarding ethanol imports from the US for blending have eased following the trade deal. However, the pending revision in domestic ethanol prices continues to remain an overhang. Despite a significant increase of approximately 16.4% in sugarcane FRP and operational costs, ethanol prices under the Juice and B-Heavy routes have not been revised since ESY 2022-23. The Company emphasized t