The company has commissioned a new 160 KLD distillery during the quarter. This has enabled BCL to sell up to 18 crore litre in a year. We expect sales volume of 11.8 crore & 16.6 crore litre in FY20E & FY21E, respectively. In the current crushing season, the company is diverting 40% of its sugarcane towards B heavy ethanol. BCL can divert up to 55% of its sugarcane toward B heavy ethanol to optimally utilise its distillery capacity. We expect 31.3% CAGR of distillery sales in FY19-21E. On a like to like basis, recovery rates have improved in current season. However, due to diversion...