Balrampur Chini Mills Ltd Share Price – NSE  /  BSE

Sugar, Small Cap

PLA offers dual benefits as a bio-based and biodegradable material, presenting a sustainable substitute for conventional plastics in various applications.

“The current production of PLA in the US and Thailand, produces 68 percent lower greenhouse gases, consumes 65 percent less energy than the production of conventional plastics, and is toxin-free. This makes PLA a non-toxic and environmentally friendly material,” the company stated in press release.

The company will construct PLA factory with a capacity at “global” scale of 75’000 t/a. The new plant will be located on a “greenfield site” beside its existing sugar plants where lot of the local infrastructure already exists which can be used to accelerate the plant construction. Raw material for PLA production is sugar. Proximity to its existing unit will be a big advantage with respect to continuous availability of sugar and bagasse (energy) for the project. The project is expected to be completed within 30 months

The board of directors have approved an estimated investment of Rs 2000 crore (Rs 800 crore to come from internal accruals and Rs 1200 crore through debt) in phases over a period of around 2.5 years.

The company said that PLA (Polylactic Acid) has gained notable traction in India, finding applications in diverse sectors. Renowned brands like Starbucks, Costa, and others have incorporated PLA for items such as straws, cups, stirrers, and lining for paper cups. In the textile industry, major players like Aditya Birla are leveraging PLA compounds for garment packaging.

Recently, the company acquired a minority stake in Konkan Speciality Polyproducts (Konspec) to bolster the market presence of PLA (Polylactic Acid) in the country. Konspec stands out as a prominent player in the realm of specialty polymers & bio-polymers, intermediaries, and chemicals. Notably, Konspec is a key user and facilitator of PLA in India, where PLA is predominantly utilized as a compound.

Balrampur Chini Mills is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power.

The company’s consolidated net profit jumped 97.3% to Rs 91.33 crore in Q3 FY24 as compared with Rs 46.29 crore in Q3 FY23. Net sales increased 25.4% YoY to Rs 1230.39 crore in Q3 FY24.

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Net profit of Balrampur Chini Mills rose 97.30% to Rs 91.33 crore in the quarter ended December 2023 as against Rs 46.29 crore during the previous quarter ended December 2022. Sales rose 25.40% to Rs 1230.39 crore in the quarter ended December 2023 as against Rs 981.16 crore during the previous quarter ended December 2022.

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Balrampur Chini Mills will hold a meeting of the Board of Directors of the Company on 8 February 2024.

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Balrampur Chini Mills has appointed Avantika Saraogi (DIN: 03149784) as an Executive Director of the Company w.e.f 1 January 2024.

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