ICICI Securities on BALRAMUR CHINI
It reported its Q4SY08 (sugar year) results with a topline growth of 40% to Rs 416.7 crore from Rs 297.8 crore in Q4SY07, supported by volume growth and improvement in price realisations. It currently holds a large sugar inventory, in anticipation of higher sugar prices and it is well positioned to gain in such a scenario. However, disputes over pricing between the industry and the state pose concerns.
ICICI Securities on Bajaj Hindustan
Revenues are expected to rise by 47.4% QoQ to Rs 676.7 crore on account of higher sugar prices and strong growth in volumes. EBITDA margins are expected to improve to 31.4% QoQ on the back of higher sugar and rectified spirit prices. Net profit is expected to stand at Rs 58.5 crore from the loss of Rs 35.5 crore in Q3SY08. Key swing factors are firm sugar prices and the SC ruling on sugarcane prices.
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