Distillery revenue to grow at 58% CAGR in FY21-24E with 3x increase in ethanol volumes & 4.5% increase in distillery realisation led by better realisation from B-heavy & sugarcane juice ethanol Higher exports aided by rising global sugar prices & sugarcane diversion towards ethanol has led to lower sugar inventory & higher domestic sugar prices, which is boosting operating margins & profits With increasing profitability & reduction in sugar inventory, the company would be able to generate cumulative | 530 crore free cash flows in the next...