Balrampur Chini Q3 Review - Temporary Blip Of Low Recovery; Long Term Story Intact: ICICI Direct
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ICICI Direct Report
Balrampur Chini Mills Ltd. reported disappointing set of numbers with 10.3% decline in sales and 67% dip in earnings.
The de-growth in sales and earnings was mainly due to increase in cost of production as like to like recoveries are lower in current season adversely impacted by weather conditions.
Further sugarcane yield was also impacted by red rot disease in some parts of Uttar Pradesh.
Sugar realisation remained flat with delay in announcement of export subsidy and higher domestic sales quota.
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