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Shree Renuka Sugars
SectorFMCG
Shree Renuka Sugars Limited (SRSL) is an integrated manufacturing company focused on sugar and allied products like power and ethanol. Incorporated in 1995, SRSL operates manufacturing facilities in Karnataka and Maharashtra, India. The company has the largest sugar refining capacity in India at 4000 Tons Per Day. SRSL's main activities include sugar manufacturing and refining, ethanol production, and power generation. The company has expanded its operations over the years, adding cogeneration plants, distilleries, and refineries. SRSL has also engaged in acquisitions and established subsidiaries for international trade. The company produces white sugar under the brand Madhur, supplies sugar to various food industries, and manufactures different grades of ethanol for fuel blending and other industries. In recent years, SRSL has focused on expanding its ethanol production capacity.
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Company insights, generated from the most recent coverage.
Renuka's negative EBITDA makes it the most exposed to the diversion ban — losing the ethanol stream removes the pricing catalyst that was the main hope for debt servicing, while higher sugar inventory further strains an already stretched balance sheet.
Brazil operations give Renuka a structural offset that purely domestic mills lack — export restrictions at home can be partly absorbed by shipping Brazilian sugar into the Asian and African markets India vacates.
Export ban extension to Sept 30, 2026 triggered an 8% share price fall — the steepest drop among listed sugar mills, reflecting maximum sensitivity to lost export revenue.