Balrampur Chini Mills (BALRAMCHIN) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 began on a stable note with revenue growth in both sugar and distillery segments, driven by higher sugar realizations and increased distillery volumes.

• Sugarcane crushing and sugar production rose due to greater cane availability; ongoing cane development and varietal rebalancing initiatives continued.

• Tight demand-supply balance led to firm domestic sugar prices, offsetting higher cane and operational costs.

• PLA plant construction is progressing, with operations expected to commence in H2FY27; capex revised to Rs. 3080 crores.

• Unaudited standalone and consolidated financial results for the quarter ended 30 June 2026 were approved, with a limited review by statutory auditors confirming compliance and no material misstatements.

Financial highlights

• Consolidated Q1 FY27 revenue rose 6.1% year-over-year to Rs. 1,636.79 crores.

• Standalone revenue from operations for Q1 FY27 was ₹163,679.30 lakhs, up from ₹154,227.45 lakhs in Q1 FY26.

• Consolidated PBT fell 19.9% year-over-year to Rs. 73.08 crores; TCI margin at 3.58%.

• Basic EPS (consolidated) for Q1 FY27 was ₹2.16, down from ₹2.55 in Q1 FY26.

• Share of profit from associate (Auxilo Finserve Pvt Ltd) contributed ₹648.80 lakhs to consolidated profit.

Outlook and guidance

• PLA plant commissioning targeted for October (lactic) and December (PLA), with initial capacity utilization guidance of 40% from January to March, aiming higher if ramp-up proceeds as planned.

• PLA plant expected to commence operations in H2FY27, with full capacity revenue potential of ~Rs. 2000 crores.

• Too early to provide definitive production outlook for 2026-2027; clarity expected by September.

• Expectation of a ban on B-heavy and juice diversion for ethanol, with only C-heavy allowed, impacting distillery mix.

• Sugar is a seasonal industry, and quarterly results are not indicative of annual performance.