Balrampur Chini Mills Limited (BCML), one of India’s largest integrated sugar producers, has announced its financial results for the fourth quarter and year ended March 31, 2026, reporting a mixed performance marked by stronger volumes but weaker profitability.

 

The company said it delivered a “stable performance” in Q4 FY26, supported by higher sugar sales volumes and marginal improvement in realizations. However, profitability came under pressure due to rising input costs.

 

“The sugar segment delivered stable performance during the quarter despite hike of ~8% in sugarcane price y-o-y from Rs. 370/qtl. to Rs. 400/qtl. by U.P. Govt. which led to reduced margins. This was partly off-set by higher sugar sales volumes coupled with marginal increase in realizaKons. Results of the disKllery segment were subdued as the Govt. did not increase the Ethanol procurement price from Juice and B-heavy route for three consecuKve years.”

 

Operationally, sugarcane crushing rose to ~622.2 lakh quintals in Q4, up ~1.6% year-on-year, while full-season crushing increased ~5.2% to ~1043 lakh quintals. However, sugar recovery before diversion slipped slightly to 11.59% in Q4 and 11.24% for the season versus 11.28% last year.

 

On the industry outlook, the company highlighted support from exports, but flagged policy constraints.

 

“The export quota of ~1.58 MMT for the current season has supported the sugar prices in the peak of the crushing season. We expect ~0.7 MMT to be exported out of the allocated quota as Government has banned export of sugar up to 30th September 2026.”

 

It added that India’s net sugar production post ethanol diversion is estimated at ~28 MMT, matching domestic consumption, with closing stocks projected at ~4.3 MMT after exports and opening inventory.

 

Strategically, BCML reaffirmed progress on its diversification push. The company’s 80,000-tonne PLA plant, with a revised capex of ~Rs. 3,080 crore, remains on track for commissioning in Q3 FY27.

 

“The progress of 80,000 tons PLA Plant remains largely on track with revised capex of ~Rs. 3080 crores. We expect the plant to commence operations in Q3FY27. Construction activities are in full swing.”

 

The board has also approved raising ~Rs. 450 crore via preferential equity to fund capex and general corporate needs, with promoters contributing ~Rs. 193 crore and no promoter dilution expected.

 

Despite operational resilience, financial performance weakened in Q4. On a consolidated basis, revenue from operations rose 6.67% YoY to Rs. 1,603.99 crore, but EBITDA fell 22.03% to Rs. 284.79 crore and total comprehensive income dropped 30.25% to Rs. 157.23 crore.

 

For FY26, revenue climbed 15.80% to Rs. 6,271.15 crore, while EBITDA rose 5.26% to Rs. 741.28 crore. However, full-year profit softened 13.33% to Rs. 380.35 crore.

 

Standalone results reflected a similar trend, with annual revenue up sharply but profit growth nearly flat at 0.92%.

 

The company added it will continue to invest “judiciously” while expanding its diversified product portfolio, including PLA, aligned with global environmental goals.