Cash flow boost led by B heavy ethanol, exports Dhampur has the most optimum distillery capacity (400 KLD) to utilise B heavy molasses. The company has contracted 7 crore litre of ethanol with OMCs in its first tender. We expect the company to clock distillery sales of 11.4 crore litre (including country liquor) in FY20E and 12 crore litre in FY21E. Considering higher monthly sales quota of 60,000 tonnes each in Jan-Mar & 80,000 tonnes of exports, the company is expected to sell 2.6 lakh tonnes of sugar in Q4. Considering current sugar inventory of 3.4 lakh tonnes and...