India's Largest Integrated Sugar Company Announces Q4FY26 Results; Company Sees 15.80% Revenue Growth In FY26 Despite Margin Pressure

Shares of Balrampur Chini Mills Ltd fell 0.68 per cent to Rs 537 per share on Friday from its previous closing of Rs 540.70 per share. The stock hit an Intraday high of Rs 549.80 per share, surging nearly 1.68 per cent during the session. The stock’s 52-week high is Rs 627.80 per share and its 52-week low is Rs 393.55 per share. As of 16:00 IST, the stock closed at Rs 537 per share.

Balrampur Chini Mills Ltd, one of India’s largest integrated sugar manufacturing companies, announced its financial results for the fourth quarter and financial year ended March 31, 2026.

The company reported stable operational performance during the quarter, supported by improved sugar sales volumes and marginally higher sugar realizations. However, margins remained under pressure due to an around 8 per cent year-on-year increase in sugarcane prices by the Uttar Pradesh government from Rs 370 per quintal to Rs 400 per quintal.

For Q4 FY26, consolidated revenue from operations rose 6.67 per cent to Rs 1,603.99 crore compared to Rs 1,503.68 crore in Q4 FY25. EBITDA, excluding other income, declined 22.03 per cent to Rs 284.79 crore against Rs 365.24 crore in the year-ago period. Total comprehensive income for the quarter fell 30.25 per cent to Rs 157.23 crore from Rs 225.43 crore.

For the full financial year FY26, consolidated revenue from operations increased 15.80 per cent to Rs 6,271.15 crore compared to Rs 5,415.38 crore in FY25. EBITDA rose 5.26 per cent to Rs 741.28 crore from Rs 704.24 crore. However, total comprehensive income declined 13.33 per cent to Rs 380.35 crore against Rs 438.84 crore in FY25.

On the standalone front, Q4 FY26 revenue from operations also stood at Rs 1,603.99 crore, up 6.67 per cent year-on-year. EBITDA declined 22.03 per cent to Rs 284.79 crore, while total comprehensive income dropped 31.15 per cent to Rs 148.95 crore.

For FY26 standalone performance, revenue from operations rose 15.80 per cent to Rs 6,271.15 crore. EBITDA increased 5.26 per cent to Rs 741.28 crore, while total comprehensive income edged up 0.92 per cent to Rs 349.04 crore.

Chairman and Managing Director Vivek Saraogi said the sugar business delivered stable performance despite higher sugarcane costs. He added that higher sugar sales volumes and better realizations partially offset the pressure on margins.

The distillery business remained subdued as the government has not increased ethanol procurement prices from juice and B-heavy routes for the past three consecutive years.

Sugarcane crushing during Q4 FY26 rose around 1.6 per cent year-on-year to nearly 622.2 lakh quintals. For the full season, the company crushed around 1,043 lakh quintals, up about 5.2 per cent from the previous season.

Gross sugar recovery before diversion in Q4 FY26 declined around 9 basis points to 11.59 per cent. For the full season, gross sugar recovery before diversion stood at 11.24 per cent compared to 11.28 per cent in the previous season.

The company said the export quota of around 1.58 MMT supported sugar prices during the peak crushing season. However, it expects only around 0.7 MMT exports from the allocated quota after the government banned sugar exports till September 30, 2026.

India’s net sugar production after ethanol diversion is estimated at around 28 MMT. With domestic consumption estimated at 28 MMT, exports of 0.7 MMT and opening inventory of 5 MMT, the closing stock is projected at around 4.3 MMT.

Balrampur Chini Mills also said progress on its 80,000 tonnes per annum Poly Lactic Acid (PLA) plant remains on track with revised capex of around Rs 3,080 crore. The company expects the plant to commence operations in Q3 FY27.

The board recently approved raising Rs 450 crore through preferential equity shares to fund capex and general corporate purposes. Promoters will contribute around Rs 193 crore, with no dilution in promoter holding.

The company currently operates 10 sugar factories in Uttar Pradesh with aggregate crushing capacity of 80,000 TCD, distillery capacity of 1,050 KLPD and saleable cogeneration capacity of 175.7 MW.

The company has a market cap of over Rs 10,844 crore. The stock price has surged over 22.52 per cent in the last one year. The stock has also rallied around 36.45 per cent from its 52-week low of Rs 393.55 per share.

Disclaimer: The article is for informational purposes only and not investment advice.

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