Balrampur Chini Mills eyes higher realisations ahead, says CFO Patwari
Balrampur Chini Mills' recent trading performance and financial results showcase a company that is on the right track. Its diligent efforts to enhance the sugar business and the strategic foresight articulated by its CFO provide a glimpse into a promising future. While challenges persist, the company's ability to navigate them while maintaining an optimistic outlook signifies a management team that is well-equipped to steer the ship in the right direction.
As of the latest intraday data, Balrampur Chini Mills' stock has been holding strong, trading around Rs 411 a unit, marking a modest increase of 0.34 percent. This incremental rise on an intraday basis is complemented by a more noteworthy achievement -- a consistent growth trend of over 1 percent in the past week. However, the real eye-opener lies in its performance over the past month, where the company has managed to gain an impressive 7 percent. Such consistent and upward trending figures are bound to grab the attention of market observers.
The positive trajectory of Balrampur Chini Mills is further underscored by its recent financial report for the first quarter of FY24. The company's sugar business has showcased remarkable improvement, reflecting a strategic approach and market-savvy decision-making. This growth in the sugar business serves as a testament to the company's commitment to innovation and adaptability in an ever-evolving industry.
Pramod Patwari, the Chief Financial Officer of Balrampur Chini Mills, shared insightful perspectives in a recent interview with CNBC-TV18. He highlighted the company's strategic planning, stating that it is well-prepared for the upcoming festive season with ample sugar stocks.
“There is enough sugar stock to meet the festive demand. We don’t see any shortage of sugar coming in the festival season,” he said.
Furthermore, Patwari's remarks put light on the company's optimistic outlook. Balrampur Chini Mills anticipates higher realisations from B Molasses and sugar, emphasising its confidence in the quality and value of its products. This projected growth not only bodes well for the company's future profitability but also demonstrates its proactive approach to capitalising on emerging market opportunities.
However, amidst all the positive developments, a nuanced picture emerges. Despite the commendable growth in the distillery segment, a decline in margins suggests that the company is not without its share of challenges.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
First Published: Aug 7, 2023 2:11 PM IST
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