As per BCL presentation, roughly 0.42 ltr/kg for maize and 0.5 ltr/kg for rice.
Add to that DDGS variability as its price depends on protein content/kg, availability etc. Around 0.8kg DDGS is made as a byproduct per liter of Ethanol.
Absolutely, Ethanol price cannot be hiked forever. Infact I do not expect Ethanol from maize price to increase as they were increased few months back. Hike will be for Ethanol from Sugarcane producers.
But at the same time, you cannot compare it with landed cost of Crude. Yes, it is a factor, but you have to consider the benefits of circular economy due to EBP. It saves FX – money stays in our economy, generates jobs locally, tax revenue for govt, higher income for farmers, environmental benefits.
EBP has multiplier effects, Govt cannot/will not just compare Ethanol price to landing Crude price and say since Crude prices are low now Ethanol producers should sell Ethanol to OMCs at 50/ltr.
At current Maize prices some marginal players are already defaulting on their OMC commitments, no way Govt can make Ethanol less remunerative and expect it to hit its ambitious EBP targets.
In one of the interviews, I heard management of BCL competitor Gulshan Poly asking Maize Ethanol price to be increased to Rs 81. Mr. Kushal was in same interview, he didn’t ask for such outlandish hike, he just wished for more certainty related to raw material availability. I am sure he (and us) wont mind a hike though 
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