Analysis: Shree Renuka Sugars Limited

NSE:RENUKA Sugar Market cap: ₹5.2K cr

Growth thesis

Shree Renuka Sugars produces sugar from sugarcane and generates ethanol as a byproduct. Growth is tied to seasonal sugarcane harvest cycles, ethanol blending policy mandates, and global sugar price fluctuations. Over 2-3 years, output will align with monsoon-dependent yields and ethanol demand from government blending targets. Key execution risks include sugarcane price volatility, regulatory shifts in ethanol procurement, and global sugar market dynamics. Margins depend on efficient byproduct utilization and cost management during harvest cycles.

Research report

companyname: Shree Renuka Sugars Limited ticker: RENUKA sector: Sugar, Ethanol and Renewable Energy (Agribusiness and Bio-energy) Shree Renuka Sugars Limited (SRSL) is a Wilmar subsidiary and one of India's largest integrated sugar and ethanol companies. The FY25 annual report describes the company as one of India's largest sugar and green energy producers. It was registered in 1995 and is based in Belagavi, Karnataka. The company works across the sugar value chain. It crushes sugarcane, refin...

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RS rating: 73 Stage: Stage 1

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