India, frequently referred to as the “Land of Rising Sun,” is renowned for its vibrant culture and rich history. It possesses a robust sugar industry as well. The sugar sector in India holds significant importance as it provides employment to numerous individuals and generates substantial revenue for the nation. In this blog article, we shall explore the top ten well-known sugar firms in India. We are going to learn about their history, the way they produce items, and their contribution to the economy of India.
Top 10 Sugar Companies in India 2024
1. EID Parry
EID Parry, headquartered in Chennai is among the top 10 sugar companies in India, founded in 1788, and began operations in 1861, making it one of the oldest sugar companies in India.
Parry was the first to start a distillery in India in 1843 and to work closely with sugarcane farmers from 1845. Their ‘Parrys Pure’ sugar brand is considered a top brand in India.
Parry runs 7 huge sugar mills spread across the southern states of India. These modern mills can crush 40,300 tons of sugarcane every day. They also generate 140 MW of electricity and produce 598,000 liters of alcohol daily from the molasses.
The company is well-known for making various types of sugar products, including white, brown, and golden sugars. With current market cap standing at 14,247.56 Crore INR.
2. Shree Renuka
Shree Renuka, headquartered in Mumbai, began in 1947 and is a well-known sugar maker from India. They make high-quality sugar that is used in several sectors like making sweets, dairy products, and baked goods among others. Shree Renuka has made a good place for itself in the local market and keeps concentrating on fulfilling the growing demand for sugar items.
It is the biggest company in India in refining sugar and making ethanol. It has large-scale operations like sugar refining facilities that can handle 4,000 tonnes every day along with distilleries capable of producing 600,000 liters of ethanol daily. In the year 2019, Shree Renuka Sugars occupied one-fifth (20%) of all Indian sugar exports to global markets. Making it one of the top 10 sugar companies in India, with a current market cap of 10,985.14 Crore INR.
The company runs 8 huge sugar mills in the major sugarcane-growing areas of Uttar Pradesh, Maharashtra, and Karnataka states. It also has two large refineries at ports to import and export sugar.
3. Triveni Engg
Triveni Engineering & Industries Ltd. is one of India’s leading and pioneering sugar companies with a rich legacy dating back to 1932 when it was incorporated as The Ganga Sugar Corporation Limited. While maintaining market leadership in the sugar business, Triveni has diversified into other core sectors like alcohol, water solutions, power transmission, and defense over the decades.
However, sugar remains a key part of Triveni’s sustainable growth story that it aims to continue for the next 100 years. The company’s sugar operations have played a pivotal role in driving its overall performance – its revenue from operations doubled from FY16 to FY23 to Rs.4,044 crores, while EBITDA grew 3.4 times over this period. As of May 2024, its market cap is standing at 9,133.52 Crore INR.
As one of the top sugar manufacturers in India, Triveni brings inspired engineering coupled with constant innovation to its sugar business. The company takes pride in its market leadership in the sector built on sustainable practices. With a diverse talented workforce united by a winning culture, Triveni remains committed to upholding its pioneering legacy in India’s sugar industry while building a better future.
4. Balrampur Chini
Balrampur Chini Mills Limited, founded in 1975, is one of the largest sugar manufacturing companies in India. It was among the first sugar firms to diversify into distilleries and cogeneration. The company takes an innovative approach to manufacturing a wide range of co-products like molasses, alcohol, ethanol, bagasse, and power generation, backed by deep industry knowledge.
It possesses a massive 80,000 tonnes per day cane crushing capacity, 1050 KL per day distillery capacity, and 175.7 MW saleable cogeneration capacity. With a current market cap valued at 8,912.27 Crore INR.
The company aims to be a model agri-based energy firm respected globally, creating leaders and benchmarks across functions. Through acquisitions and greenfield expansions over decades, Balrampur Chini Mills has established itself as one of the top 10 sugar companies in India.
5. Bajaj Hindusthan
Bajaj Hindusthan, established in 1947, is a leading producer of sugar-based in India. It manufactures high-quality sugar products that are utilized throughout various industries. The firm is well-regarded in the Indian marketplace and committed to meeting the growing demand for sugar products.
It holds the top position in Asia and globally ranks fourth among integrated sugar companies. BHSL operates on a huge scale with a combined sugarcane crushing ability of 136,000 tonnes crushed per day (TCD) along with an alcohol distillation capacity of 800 kilo liters every day (KLD). It works from 14 places in Uttar Pradesh, a main state for sugar production located in the northern part of India. Being one of the top 10 sugar companies in India, it has a market cap of 5,484.98 Crore INR.
6. Bannariamman
Bannariamman, established in 1947, is a leading sugar manufacturer in India. The company’s sugar goods are highly respected and widely utilized across various industries. Bannariamman has a strong position in the Indian market and is committed to meeting the growing need for products related to sugar. Its current market cap stands at 4,028.00 Crore INR.
7. Dalmia Sugar
Dalmia Sugar, started in 1905, is a well-known sugar brand from India. It produces high-quality sugar used in various applications like sweets and milk-based items. The company possesses an efficient network for distribution across India, enabling simple access to its products for people.
The company is a fully integrated player with a 120 MW cogeneration capacity, 255 KLPD distillery, and facilities for raw sugar processing. It has state-of-the-art units equipped with world-class systems that produce high-quality sugar supplied to giants like Coca-Cola, PepsiCo, and top FMCG brands. The current market cap of Dalmia Sugar is valued at 3,490.51 Crore INR.
8. Dhampur Sugar
Dhampur Sugar Mill, founded in 1947, represents the country’s largest producer of sugar that enjoys a distinct advantage of the high-quality sugar widely appreciated by its domestic and global consumers. The business has the leading rate in the Indian market and provides more sugar lines to achieve a reckon fiber despite the market demand. Its current market cap is 1,581.86 Crore INR.
9. Dwarikesh Sugar
Dwarikesh Sugar, which started in 1947, is among the top 10 sugar companies in India. The company has built its reputation on creating superior sugar that is used widely across different sectors. Dwarikesh Sugar holds a strong place in the Indian market and is committed to meeting the growing demand for sugar products. According to the latest stat, its market cap is 1,467.43 Crore INR.
10. Uttam Sugar
Uttam Sugar, established in 1947, is one of the leading sugar manufacturers in India. It has earned a reputation for its high-quality sugar that is used widely across different industries. The company is strong because it can meet the growing need for sugar products in the market of India.
With a wide distribution network across northern, central, and western India, Uttam Sugar supplies leading stores, restaurants, airlines, and railways as well as major FMCG clients like Rasna, Britannia, Cadbury, PepsiCo, and Mother Dairy among others. The company has also ventured into green power with 122 MW installed capacity and 64 MW exportable renewable energy. It is now focusing on biofuels with 300 KL per day ethanol capacity. Uttam sugar’s current market cap is 1,370.49 Crore INR.
Conclusion
The sugar sector in India represents the nation’s industrial power and creativity. These top 10 sugar firms are crucial for the development of this industry. Their commitment to good quality, being creative, and focusing on lasting practices has not only enabled them to succeed but also has had significant effects on the economy of India. As the need for sugar grows in India over the next few years, these firms are likely to lead in satisfying what the market will need ahead.
