Balrampur Chini Mills surges on the BSE

Balrampur Chini Mills is currently trading at Rs. 363.60, up by 2.30 points or 0.64% from its previous closing of Rs. 361.30 on the BSE.

The scrip opened at Rs. 357.85 and has touched a high and low of Rs. 365.25 and Rs. 356.00 respectively. So far 58899 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 485.80 on 30-Nov-2023 and a 52 week low of Rs. 343.45 on 14-Mar-2024.

Last one week high and low of the scrip stood at Rs. 369.00 and Rs. 343.45 respectively. The current market cap of the company is Rs. 7343.67 crore.

The promoters holding in the company stood at 42.90%, while Institutions and Non-Institutions held 32.12% and 24.97% respectively.

Balrampur Chini Mills (BCML) has inked agreements with three renowned technological experts -- Sulzer AG, Alpine Engineering GmbH, and Jacobs Solutions India -- for its upcoming PLA- Bioplastics manufacturing facility. 

Sulzer AG will provide state-of-the-art polylactic acid (PLA) production technologies to support the establishment of India's inaugural bioplastics plant. Utilizing sugar cane as its primary feedstock, the facility aims to produce 75,000 tonnes of compostable, fully recyclable bioplastic annually, aligning with BCML's commitment to national sustainability objectives. Sulzer's involvement encompasses the delivery of manufacturing technologies for critical process stages, including lactide synthesis, lactide purification, and polymerization. Sulzer stands as a global leader in supplying essential equipment for bioplastics production, boasting extensive expertise utilized in numerous PLA manufacturing plants worldwide, supported by a vast network of 160 top tier facilities and service centres across the globe.

BCML's collaboration with Alpine Engineering GmbH represents their second engagement of the day, centred on technology provision and technical advisory services for the manufacturing of PLA grade Lactic acid from sugar. Alpine's contribution is pivotal in establishing the groundwork for producing PLA, utilizing cutting-edge fermentation technology alongside advanced distillation and purification processes. With over 35 years of expertise, Alpine Engineering excels in biotechnological processes, specializing in fermentation-based production of organic acids and amino acids. Their proficiency extends to engineering production plants, encompassing conceptual design through to successful implementation.

The third agreement involves Jacobs Solutions India, a subsidiary of Jacobs Solutions Inc., tasked with providing Engineering, Procurement, Construction Management (EPCM) services for the complete setup and integration of lactic acid and polylactic acid production facilities. Additionally, Jacobs will oversee the engineering of utilities, civil infrastructure, and other essential components, optimizing interunit energy flow and recirculation loops. Jacobs, a renowned American technical professional services firm with a global presence, an annual revenue of approximately $16 billion and a workforce exceeding 60,000, brings prior experience in EPCM projects and offers a comprehensive range of consulting, technical, and project delivery services for both government and private sectors.

Balrampur Chini Mills is one of the largest integrated sugar manufacturers in India. Its business portfolio consists of manufacturing and marketing of sugar, ethyl alcohol, ethanol, generation and selling of power and also manufacturing and marketing of organic manure.