Balrampur Chini Mills Ltd · NSE:BALRAMCHIN
Balrampur Chini Mills — Investor Presentation (August 2025)
65 slides from Balrampur Chini Mills's investor presentation, Aug 12, 2025
Slide 1: Investor Presentation updated for June 2025 (exchange filing letter)
12th August, 2025 National Stock Exchange of India Limited BSE Limited Listing Department, The Corporate Relationship Department ‘Exchange Plaza’, C/1, G Block, Bandra 1st Floor, New Trading Wing, Rotunda Kurla Complex, Bandra (E), Building, Phiroze Jeejeebhoy Towers, Mumbai 400051. Dalal Street, Fo
Slide 2: Stretch. Deepening Competence. Widening Horizons.
STRETCH . Deepening Competence. Widening Horizons. Investor Presentation August 2025
Slide 3: Safe Harbour
Safe Harbour Certain statements made in this document may constitute forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, agricultural policies, climatic conditions, technologica
Slide 4: Table of Contents
Table of Contents 4-8 Company Overview Company’s Diversification to Bio 9 - 19 Speciality Chemicals – Poly Lactic Acid (PLA) Historic Trend – 5 Years Financial & 20 - 33 Operational Data Historic Trend – 5 Years Financial 34 - 38 Data - Company as a whole 39 - 44 Treasury Management 45 - 56 ESG & En
Slide 5: Company Overview (1 of 2)
Company Overview (1 of 2) 10 5 10 80,000 175.7 Number of Number of Number of Aggregate cane crushing Aggregate Saleable sugar units distillery units co-generation units capacity (TCD) co-generation capacity (MW) 1,050 250 5,415 704 344 (TPD) Aggregate distillery Poly Lactic Acid plant Revenue EBITDA
Slide 6: Company Overview (2 of 2)
Company Overview (2 of 2) A multi-product integrated Company with manufacturing capability of Sugar, Ethanol and Bioplastic (Polylactic Acid)* FACTORY LOCATIONS Saleable Sugar Crushing Distillery Agro PLA* BCML Units Cogen (tonnes of cane/ day) (kL/ day) (MT) (TPD) (MW) UTTAR Balrampur 12,500 330 27
Slide 7: Journey of BCML over Decades
Journey of BCML over Decades 1975-1989 1990-1999 2000-2014 2015-2024 2024 - onwards Structural transformation Sugar Business – Decadal Future Growth Growth & Expansion Phase Integrated Growth Phase of sugar and distillery Foundation Years Opportunity divisions 1975: Began operations at the Balrampur
Slide 8: Board of Directors
Board of Directors Vivek Saraogi Avantika Saraogi Dr. Indu Bhushan Chandra Kishore Mishra CHAIRMAN AND MANAGING DIRECTOR EXECUTIVE DIRECTOR (RETD. IAS) (RETD. IAS) LEAD INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR • An eminent Industrialist, is a veteran in the • Pioneer in world of sugarcane operation
Slide 9: Board of Directors
Board of Directors Veena Hingarh Mamta Binani Praveen Gupta INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR WHOLE-TIME DIRECTOR • Director in South-Asian Management • Experience spans more than 43 years and is • Chairperson of Merchant Chamber of Technologies FZC, Dubai and South Asian associated with the
Slide 10: Company's Diversification to Bioplastic – Poly Lactic Acid (PLA)
COMPANY’S DIVERSIFICATION TO BIOPLASTIC – Poly Lactic Acid (PLA) BCML | Investor Presentation 9
Slide 11: The Writing is on the Wall
The Writing is on the Wall THE GLOBAL CARBON CYCLE IN BILLION TONS Global energy-related CO2 emissions grew by 1.1% in 2023, increasing 410 million tonnes (Mt) to reach a new record high of 37.4 billion tonnes (Gt) OUR CURRENT ECONOMIC MODEL IS NOT ENVIRONMENTALLY SUSTAINABLE • The current carbon-ba
Slide 12: What Could 2050 Look Like?
What Could 2050 Look Like? GLOBAL CARBON DEMAND FOR CHEMICALS AND DERIVED MATERIALS In 2020 and Scenario for 2050 (in million tonnes of embedded carbon) KEY MESSAGE: Even replacing ALL carbon in the polymer and chemical industry will be possible requiring a manageable ~2.5% of all biomass of planet
Slide 13: How Bioplastic is an Active Measure
How Bioplastic is an Active Measure Classification Of Bioplastics BIOPLASTICS HELP TO REDUCE GHG EMISSIONS AND PLASTIC POLLUTION Bioplastics fit in as an active measure? • Bioplastics can be “biobased” • Bioplastics can be “biodegradable” • PLA is easy to chemically recycle BCML | Investor Presentat
Slide 14: BioE3 Policy: An Era of Bio-Revolution
BioE3 Policy: An Era of Bio-Revolution Government has introduced BioE3 Policy in August 2024 to promote bio-manufacturing and support the shift from a sustainable, bio-based economy. BIOENERGY & BIOFUEL • The BioE3 Policy will facilitate sustainable and efficient 1 Bioethanol, 2G Ethanol CBG, utiliz
Slide 15: The Place of PLA Within Biopolymers
The Place of PLA Within Biopolymers Starch PLA PHA PBS/PBSA PBAT Blends KEY MESSAGE: Thermostability 0 ++ +++ +++ +++ PLA is the lowest cost biopolymer Film-forming ++ -- ++ ++ ++ with a great hardness and great transparency. Hardness 0 +++ - 0 - PLA has clear advantages in chemical recycling. Mecha
Slide 16: BCML – PLA (bio-polymer) Project
BCML – PLA (bio-polymer) Project A STRATEGIC DECISION Diversifying goals align with the Make in India Initiative and Swachh Bharat Abhiyan. The market for sustainable products is growing and our initiative is to meet eco- friendly standards and create a new ecosystem for the Sugar Industry. Future o
Slide 17: Overview on Poly Lactic Acid (PLA)
Overview on Poly Lactic Acid (PLA) 1.2 Value of the global PLA projected PLA market THE KEY PROPERTIES OF PLA USD Bn market, 2024 11.8% growth from 2024 to 2034 Crystallinity In its versatility, PLA can be amorphous and transparent or if triggered crystalline and heat resistant. This is supported by
Slide 18: PLA: A Progressive Solution
PLA: A Progressive Solution WHAT MAKES PLA A FUTURISTIC ALTERNATIVE TO CONVENTIONAL PLASTIC Biodegradability PLA is compostable and can break down in industrial composting Ease of PLA is easy to process in various manufacturing techniques. For facilities. This reduces environmental impact and waste
Slide 19: Popular PLA Applications
Popular PLA Applications MEDICAL OTHER FOAMED PACKAGING 3D PRINTING TEXTILES DEVICES APPLICATIONS APPLICATIONS Packaging PLA is used in 3D PLA can be spun PLA is used to make PLA is also used in PLA can be foamed PLA is used to make printing for a into fibers to create a variety of medical various p
Slide 20: PLA Project Status
PLA Project Status Entire land for the Project has been acquired Contracts for foreign technology partners viz. Sulzer and Alpine has been executed EPCM contract executed with Jacobs Solutions Other contracts for Long Lead Items have been executed Till 31st July 2025 Company has spent ~Rs. 927 crore
Slide 21: Historic Trend: 5 Years Financial & Operational Data
HISTORIC TREND: 5 YEARS FINANCIAL & OPERATIONAL DATA BCML | Investor Presentation 20
Slide 22: Sugar Business
SUGAR BUSINESS BCML | Investor Presentation 21
Slide 23: Policy Intervention From Government
Policy Intervention From Government FRP Fair & Remunerative Price (FRP) of sugarcane for the sugar season 2024-25 has been revised to ₹340 per quintal from ₹315 per quintal in the previous season (linked to a basic recovery of 10.25%). FRP for the sugar The interventions by both the Central Governme
Slide 24: Sugar Segment
Sugar Segment FINANCIAL NUMBERS Revenue (Rs. Cr.) PBIT (Rs. cr) PBIT Margin (%) Sugar Sales (lac quintals) Average blended realization of sugar (Rs./kg) 467.6 113.3 102.6 4,897.4 419.7 39.1 4,697.3 94.7 94.2 38.0 90.4 36.0 4,351.7 4,263.0 4,338.6 34.7 32.0 329.5 296.3 238.5 7.6% 6.9% 5.5% 8.9% 9.5%
Slide 25: Sugar Segment
Sugar Segment OPERATIONAL NUMBERS (1 OF 2) Sugarcane crushed Net Sugar Recovery (%) * Sugar Recovery Pre-sacrifice (%) Sugar Production (lac quintals) (lac quintals) 10.63 109.8 112.2 1,084.5 10.27 10.34 11.77 11.55 11.55 11.73 1,032.6 1,034.0 11.32 9.43 9.39 97.1 $ 936.6 91.0 885.4 88.3 FY21 FY22 F
Slide 26: Sugar Segment
Sugar Segment OPERATIONAL NUMBERS (2 OF 2) Sugarcane diverted towards Sugarcane diverted towards Syrup Sugar sacrifice under B-heavy route Sugar sacrifice under B-heavy route (lac quintals) route (lac quintals) (lac quintals) Syrup route (lac quintals) 105.9 675.6 11.7 12.0 11.3 613.4 616.3 600.4 85
Slide 27: Distillery & Co-generation Business
DISTILLERY & CO-GENERATION BUSINESS BCML | Investor Presentation 26
Slide 28: Trend in Ethanol Supply Fulfilling the Domestic Demand
Trend in Ethanol Supply Fulfilling the Domestic Demand ** data upto 30.06.2025 Ethanol Procurement by OMC’s (in crore litres) Blending in Petrol achieved % 12.0% 18.9% 10.2% 14.6% 8.0% 3.5% 4.2% 5.0% 5.1% 1.5% 2.3% 2.1% 38.0 67.4 111.0 66.5 150.5 188.5 173.0 290.0 434.0 506.4 707.4 637.0 2013-14 201
Slide 29: Comparative Analysis: Water usage, crop productivity & Ethanol correlation
Comparative Analysis: Water usage, crop productivity & Ethanol correlation TOTAL WATER REQUIREMENT AND PRODUCTIVITY OF SUGARCANE AND COMPETING CROPS AND ITS CORRELATION WITH ETHANOL PRODUCTION Total Water Productivity of Crop per unit Ethanol Quantity of Ethanol Productivity of Ethanol per unit Crop
Slide 30: Greenhouse Emissions From Ethanol Produced From Various Feed-stocks
Greenhouse Emissions From Ethanol Produced From Various Feed-stocks CO2 Emissions (KG CO2 eq/ GJ Fuel) (1) Cereal Beet Wheat Corn Sugarcane 0 10 20 30 40 50 60 70 80 90 100 Maximum Minimum The Greenhouse gas emitted from Ethanol produced from various feed-stocks shows that Ethanol produced from suga
Slide 31: Distillery Segment
Distillery Segment FINANCIAL NUMBERS Distillery Revenue (Rs. Cr.) Segment PBIT (Rs. Cr.) Alcohol Sales* (Cr BL) Average blended realization (including ENA & Other Products) ** 1,689.0 Segment PBIT Margin (%) 27.1 (Rs./BL) 1,430.0 382.4 23.4 57.5 57.9 344.1 55.3 326.2 19.8 53.4 1,164.0 48.4 17.7 1,00
Slide 32: Distillery Segment
Distillery Segment OPERATIONAL NUMBERS (1 OF 2) Alcohol Production* (Cr BL) Ethanol Production from B-heavy Ethanol Production from Syrup route Ethanol Production from Grain route molasses route (Cr BL) (Cr BL) (Cr BL) 28.0 4.6 15.9 8.4 13.3 6.7 10.2 11.2 21.8 7.2 4.1 1.7 21.5 0.4 - - - - 17.1 16.3
Slide 33: Distillery Segment
Distillery Segment OPERATIONAL NUMBERS (2 OF 2) Ethanol Production from C-heavy Ethanol Sales from C-heavy molasses ENA & Other Products Production ENA & Other Products Sales (Cr BL) molasses route (Cr BL) route (Cr BL) (Cr BL) 2.8 2.8 2.9 2.9 2.7 2.8 4.8 4.9 2.0 2.0 1.8 2.0 1.6 1.8 1.2 1.1 0.4 0.7
Slide 34: Cogeneration Business
Cogeneration Business OPERATIONAL NUMBERS Co-generated Power Production (Cr Units) Co-generated Power Sales (Cr Units) Average Realization (Rs./Unit) 89.8 4.4 80.7 81.8 4.0 72.7 71.9 3.3 3.4 3.2 42.6 40.8 34.9 37.2 31.7 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 On ex
Slide 35: Historic Trend: 5 Years Financial Data – Company as a Whole
HISTORIC TREND: 5 YEARS FINANCIAL DATA – COMPANY AS A WHOLE BCML | Investor Presentation 34
Slide 36: Consolidated Financial Numbers
Consolidated Financial Numbers Revenue (Rs. Cr.) PBT (Rs. cr) PBT Margin (%) TCI (Rs. cr) TCI Margin (%) Basic EPS (Rs.) 5,593.7 742.2 5,415.4 542.6 26.49 4,811.7 4,846.0 4,665.9 479.2 609.2 598.7 461.0 22.48 22.44 438.8 21.65 562.3 408.3 277.9 13.94 12.7% 12.4% 8.7% 13.3% 10.4% 10.0% 9.5% 6.0% 9.7%
Slide 37: Standalone Financial Numbers (1 of 3)
Standalone Financial Numbers (1 of 3) Segmental Revenues (Rs. Cr.)* Segmental PBIT (Rs. Cr.) Sugar Distillery Others Sugar Distillery Others 24 20 13 24 11 10 5 22 20 1,430 1,689 842 1,001 1,164 13 192 326 344 382 261 4,352 4,263 4,339 4,697 4,897 329 296 238 420 468 FY21 FY22 FY23 FY24 FY25 FY21 FY
Slide 38: Standalone Financial Numbers (2 of 3)
Standalone Financial Numbers (2 of 3) Revenue (Rs. Cr.) EBITDA (Rs. cr) EBITDA Margin (%) PBT (Rs. cr) PBT Margin (%) TCI (Rs. cr) TCI Margin (%) 5,593.7 655.6 5,415.4 786.2 596.1 610.2 511.0 4,811.7 4,846.0 4,665.9 713.8 699.7 704.2 469.2 441.3 470.4 512.3 397.0 345.9 269.3 14.8% 14.4% 11.0% 14.1%
Slide 39: Standalone Financial Numbers (3 of 3)
Standalone Financial Numbers (3 of 3) Capital Employed (Rs. Crs) ROCE * (%) Net Worth (Rs. Crs) RONW ** (%) EBITDA/Net Block (%)^^ 3,528 44.7% 42.8% 3,227 2,822 2,705 4,349 2,511 29.8% 3,878 26.6% 3,562 2,921 3,034 19.7% 21.6% 20.7% 12.6% 17.2% 11.8% 19.5% 19.7% 9.9% 14.3% 10.2% FY21 FY22 FY23 FY24
Slide 40: Treasury Management
TREASURY MANAGEMENT BCML | Investor Presentation 39
Slide 41: Factors Influencing BCML's Treasury Management
Factors Influencing BCML’s Treasury Management BCML’s product mix (to manufacture sugar or produce ethanol) To sell sugar within India or export The government’s allocation of sugar sale quota The terms of trade related to sales The cost of debt on the company’s books / external credit rating BCML |
Slide 42: Major Working Capital Components / Long Term Debt
Major Working Capital Components / Long Term Debt Cane price dues (Rs. Cr.) Long Term Debt Short Term Debt [excluding current maturities of (on the Balance Sheet date) (including current maturities) (Rs. Cr.) long term debt] (Rs. Cr.) 228 617 582 210 2,048 188 461 363 1,547 1,264 257 891 960 FY23* F
Slide 43: Standalone Cash Flow Analysis
Standalone Cash Flow Analysis Rs. Cr Sl. no. Particulars FY 20-21 FY 21-22 FY 22-23 FY 23-24 FY 24-25 1 Profit before tax 596.11 655.61 396.97 610.19 470.40 2 Cash generated from operating activities 649.21 694.65 452.91 177.83 425.16 3 Net cash (used in) investing activities (81.13) (309.38) (858.7
Slide 44: Dividend & Share Buy-back Track Record
Dividend & Share Buy-back Track Record Sl. no. Particulars FY 20-21 FY 21-22 FY 22-23 FY 23-24 FY 24-25 1 Dividend (%) 250% 250% 250% 300% 300% 2 Dividend (Rs./share) 2.50 2.50 2.50 3.00 3.00 3 Dividend Payout (Rs. Crs.) 52.50 51.01 50.84 60.52 60.57 4 Buy-back Payout (including tax) (Rs. Crs.) 221.
Slide 45: Treasury Management Update
Treasury Management Update Long-term credit rating affirmed by CRISIL stands at AA+ with Stable outlook. Short-term credit rating affirmed by CRISIL stands at A1+. During Q1FY26, the Company: Company has also obtained second rating from India Ratings. India Ratings has assigned Long-term rating of “
Slide 46: ESG & Enhanced Stakeholder Value
ESG & ENHANCED STAKEHOLDER VALUE BCML | Investor Presentation 45
Slide 47: BCML's ESG Overview
BCML’s ESG Overview COMPANY’S VISION BCML’s ESG Framework To retain our position as one of the “greenest” companies in India’s sugar sector A platform leading to secure, scalable and sustainable long-term growth The nature of energy products: Ethanol helps moderate air pollution while co-generation
Slide 48: Our ESG Achievements
Our ESG Achievements Total effluents Steam consumption No. of trees planted (Ltrs/Mt of cane)) (as a % of cane) (units) 186.98 $ 177.45 165.91 42.58 42.00 42.16 1,84,354 151.32 156.59 1,66,773 40.92 1,50,137 39.21 1,13,450 50,298 SS 21 SS 22 SS 23 SS24 SS25 SS 21 SS 22 SS 23 SS 24 SS 25 FY 21 FY 22
Slide 49: Socially Conscious Corporate Citizen (1 of 2)
Socially Conscious Corporate Citizen (1 of 2) CORPORATE SOCIAL RESPONSIBILITY ✓ Quality Education Mandatory Amount (Rs. cr) CSR spend (Rs. Cr) Amount spent (Rs. cr) ✓ Sustainable Livelihood 12.91 11.95 ✓ Rural Development and Transformation 10.93 10.93 10.68 11.36 11.20 11.33 10.30 10.25 9.66 ✓ Envi
Slide 50: Socially Conscious Corporate Citizen (2 of 2)
Socially Conscious Corporate Citizen (2 of 2) CORPORATE SOCIAL RESPONSIBILITY QUALITY EDUCATION SUSTAINABLE LIVELIHOOD RURAL DEVELOPMENT ENVIRONMENT QUALITY HEALTHCARE AND SUSTAINABILITY 28 Schools covered 131 Women were 4,038 farmers TRANSFORMATION 6 ANM Centers for infrastructural provided with su
Slide 51: How We Moderated Our Carbon Footprint
How We Moderated Our Carbon Footprint BCML’s total GHG emissions for FY 2024-25 was 0.76 million Emissions Released tCO2e and the GHG emissions reduction for direct emissions was ~2.5 million tCO2e through SCOPE 1 SCOPE 2 SCOPE 3 Total Emissions use of biomass over fossil fuel to Emissions Emissions
Slide 52: Deep Dive Into Scope 3 Emissions
Deep Dive Into Scope 3 Emissions BCML’s commitment to a comprehensive environmental strategy includes the extensive tracking and management of Scope 3 emissions, which encompass upstream and downstream activities Under upstream emissions, we Accountability accounted for the purchase of goods and ser
Slide 53: Life Cycle Assessment (LCA) of Sugar, Ethanol and Sugarcane
Life Cycle Assessment (LCA) of Sugar, Ethanol and Sugarcane Given below is the extract of the environment impact on climate change for producing 1 kg of sugar, which has negative emission of -1.656 & -1.529 (cradle to gate) and 1 kg of ethanol having a negative emission of – 2.544 (cradle to gate).
Slide 54: BCML's Governance Framework
BCML’s Governance Framework BCML’s Core Governance Principles Focus on de-risking coupled with controlled growth ACCOUNTABILITY TRANSPARENCY INTEGRITY ENVIRONMENT AND SOCIAL REGULATORY COMPLIANCES RESPONSIBILITY Strategic guidance from experienced Investment in and diversified digitalisation, proces
Slide 55: Awards and Certifications
Awards and Certifications Padmashree awarded to (Late) Smt. MEENAKSHI SARAOGI Golden Peacock Lifetime Achievement Award to Padmashree (Late) Award for SMT. MEENAKSHI SARAOGI by the Uttar Pradesh Corporate government received by Ms. Avantika Saraogi 7th ICSI National CSR Excellence Social Awards Resp
Slide 56: Awards and Certifications
Awards and Certifications CERTIFICATIONS Bonsucro Certification: FSSC 22000 certification: Balrampur Chini Mills demonstrated the The Company’s initiatives improved operation of a management system that is operational hygiene and sanitation, which compliant with the requirements of: Bonsucro helped
Slide 57: Market Snapshot
Market Snapshot Key Market Statistics As on 07-Aug-2025 BSE/NSE Ticker 500038 / BALRAMCHIN SHAREHOLDING PATTERN* CMP (Rs.) 550.15 Qualified Market Cap (Rs. Crore) 11,107.66 Institutional Number of outstanding shares (Crore) 20.19 Resident Buyers, 1.27% Face Value (Rs.) 1.00 Individuals, 14.62% 52-we
Slide 58: Global & Indian Sugar Sector Overview
GLOBAL & INDIAN SUGAR SECTOR OVERVIEW
Slide 59: Global Sugar Production Outlook
Global Sugar Production Outlook 2024-2025 (Estimated) 2025-2026 (Projected) ( metric million tonnes) ( metric million tonnes) CS Brazil 40.1 CS Brazil 40.0 Assuming sugar sacrifice Assuming sugar sacrifice India 26.1 India 30.4 of ~3.4 MMT of ~4.5 MMT Thailand 10.0 Thailand 11.5 EU & UK 17.4 EU & UK
Slide 60: Factors Influencing Global Sugar Industry Trends
Factors Influencing Global Sugar Industry Trends 1 Global oil prices Weather & Production (24-25): • Brazil - Lower sugarcane availability along with lower sugar yields resulted in lower sugar production. Government policies catalyzing the shift between sugar • EU & UK – Reduced beet planting, disea
Slide 61: Domestic Sugar Balance Sheet
Domestic Sugar Balance Sheet SS 23-24 SS 24-25 (Estimated) SS 25-26 (Projected) 32.00 28.00 29.00 26.10 30.40 28.50 8.00 8.00 5.30 7.20 5.50 5.30 0.50 0.80 ? Op. Prod. Cons. Exp. Cl. Op. Prod. Cons. Exp. Cl. Op. Prod. Cons. Exp. Cl. Net of sugar sacrifice of ~2.0 MMT Net of sugar sacrifice of ~3.4 M
Slide 62: India: World's Largest Sugar Consumer
India: World’s Largest Sugar Consumer India's Sugar Consumption (MMT) A steady & sustainable demand opportunity CAGR 2.0% 27.4 27.9 29.1 28.0 28.5 KEY DEMAND DRIVERS 26.5 25.3 Sugar consumption in India is expected to grow. Key demand drivers include GDP growth, rising disposable income, increasing
Slide 63: About Balrampur Chini Mills Limited
About Balrampur Chini Mills Limited CIN: L15421WB1975PLC030118 Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power. The Company presently has ten sugar factories
Slide 64: Need More Insights?
Need More Insights? Please log on to www.chini.com for more information about the company. For further information contact: REGISTERED OFFICE PRAMOD PATWARI FMC Fortuna, 2nd Floor, Chief Financial Officer 234/3A, A. J. C. Bose Road, Balrampur Chini Mills Limited Kolkata 700020. +91 33 2287 4749 pram
Slide 65: Thank You
® P Balrampur Chini Mills Limited THANK YOU
Balrampur Chini Mills — Investor Presentation (August 2025) on 6ix