Commenting on the performance for Q4 & FY2012, Mr. Vivek Saraogi, Managing Director,Balrampur Chini Mills Limited, said:
"We ended the year with steady growth in revenues recorded by all business segments due to increased volumes and better realizations. While our allied businesses registered better profitability, sugar segment continued to be under pressure primarily owing to high cane prices.
The latest development involving removal of cap on sugar exports and bringing it under OGL is a positive
move for the sector. Given the current surplus situation, exports should enable liquidation of excess
inventories from the system which should lead to stability in sugar prices. Going forward, we are hopeful the
State Government in Uttar Pradesh will consider implementing progressive policies to help relieve the
stressed sugar sector. Furthermore, an expert committee set-up directly by Honorable Prime Minister is
earnestly evaluating deregulation of the industry, and we are optimistic that the first phase of decontrol will
include removal of levy obligation and release mechanism.
Our integrated business model has been tested for its efficacy in the most challenging period and has proved
to be crucial in mitigating the down-turns witnessed in the sugar industry. Going forward, building on the
foundation of a solid business model, we remain focused on creating shareholder value through sustained
efforts at improving overall operational and financial performance."