Best Sugar Stocks in India 2023

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Best Sugar Stocks in India 2023
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Introduction
The Indian Governments push for green energy and
reducing the import bill incurred on Crude oil,
has promoted the use of hybrid and flex fuel
vehicles in the country. This has led to higher
requirements of ethanol. Ethanol, which is
derived from Sugarcane, has brought focus on the
best sugar stocks in India 2023. The Government
has set a target for 20 ethanol blending in
fuel, leading to more diversion of sugarcane for
this purpose rather than simply for sugar
production. Companies that operate in the sugar
industry are gaining more traction as the
Government takes special measures to promote
higher production of ethanol. India stands among
the top three in the world in highest sugar
production. Moreover, Sugar industry is the
second largest agro-based industry in our
country.
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Best Sugar Stocks in India 2023
Let us look at the list of some of the best sugar
stocks in India, 2023, to help us decide which
ones are good investment opportunities. We will
make our decision based on financial ratios since
we use Fundamental Analysis for long term
investment decisions. Net profit margin, earnings
per share, price to earnings ratio, market
capitalization, change in revenue and net profit,
etc. are some of the fundamental analysis
parameters we will take into consideration to
select best sugar stocks for long term
investments.
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Triveni Engineering Industries Ltd
Triveni Engineering Industries Limited is an
Indian company which operates in two segments,
viz. Sugar allied businesses and Engineering
business. The Sugar allied businesses segment
focuses mainly on sugar production and alcohol
distillation. White crystal sugar is produced by
the company in seven manufacturing plants across
Uttar Pradesh. Triveni Engineering Industries
posted Revenue at Rs. 1657.37 crore, while the
Net Profit at Rs. 146.18 crore in the
October-December quarter of FY23.
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EID Parry (India) Ltd
Balrampur Chini Mills Ltd
Balrampur Chini Mills Limited is a sugar
manufacturing company that also carries out
ethanol production. The allied businesses of the
company comprise of manufacturing and marketing
of ethanol, ethyl alcohol, agriculture
fertilizers and the generation and sale of
energy. Ethanol produced by the company is sold
to Oil Marketing Companies (OMCs). Balrampur
Chini Mills posted Revenue at Rs. 981.16 crore,
while the Net Profit at Rs. 44.41 crore in the
October-December quarter of FY23.
E.I.D Parry (India) Limited focuses majorly on
manufacturing sugar and nutraceuticals. The
company also manufactures and markets
pharmaceutical sugar used as an input in the
Pharma industry. Manufacturing of sugar takes
places in nine sugar plants scattered across
southern part of the country. E.I.D Parry
(India) posted Revenue at Rs. 727.42 crore, while
the Net Profit at Rs. 15.78 crore in the
October-December quarter of FY23.
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Dalmia Bharat Sugar and Industries Ltd
Dalmia Bharat Sugar and Industries Limited
carries out manufacturing of sugar, industrial
alcohol, refractory products, and power
generation. The company is also use the generated
power for captive consumption. Ethanol production
is also an essential part of the business. The
company also manufactures organic manure and hand
sanitizers. Dalmia Bharat Sugar and Industries
posted Revenue at Rs. 599.99 crore, while the Net
Profit at Rs. 64.91 crore in the October-December
quarter of FY23.
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