In the last two years, the usual cycle in sugar sector has been done away with by implementation of sugar MSP, export subsidy & sugar sacrifice for B heavy ethanol. This has led to sustainable earnings for sector. Industry wide sugar inventory would be down to 10.6 million tonnes (MT) from 14.7 MT last year due to 5.8 MT of exports and 0.8 MT of sugar sacrifice for B heavy ethanol. BCML has strengthened its balance sheet with aggressive exports and production of B heavy ethanol. We expect the company to sacrifice 1.2 lt for B heavy ethanol next season, which would keep inventory...