Ethanol Prices are much lower than Petrol. These are rates at which Energy companies buy ethanol from Mills
The way I view this is Ethanol provides a cushion for Sugar Mills as it helps reduce the volatility of sugar pricing. However, will provide no cushion against a weak crop. Revenue from ethanol is rising fast because of smaller base and we are still halfway to our E20 target.
Also Attaching link for Quarterly presentation.
71c464ec-8ffd-4665-a1fe-1b408b53a074.pdf (bseindia.com)
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