Newly installed 100 KLPD distillery plant to perk up earnings With the commissioning of 100 KLD new distillery, the company has the capacity to sell 4.0-4.3 crore litre of ethanol to OMCs. Moreover, it would be able to divert ~33% of its sugarcane to B heavy ethanol. We expect distillery volumes to increase from 0.9 crore litre in FY19 to 4.0 crore litre in FY21E. Average distillery realisation would also improve to | 47/litre given higher proportion of B heavy ethanol. We estimate | 53.3 crore & | 191.2 crore revenues from distillery operations in FY20E & FY21E, respectively....