Revenues of sugar companies likely to increase by 10%, sugar prices to stay firm till the start of the next season, says ICRA
ICRA forecasts a 10% revenue growth for integrated sugar mills in India, driven by higher sales volumes and firm domestic sugar prices. The agency anticipates a decline in net sugar production in the upcoming year due to increased diversion towards ethanol. Key challenges include policy clarity on diversion and exports, as well as meeting ethanol blending targets.