DALMIASUG

Feb 11 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• DIVIDEND OF 4.5 RUPEES PER SHARE

• Q3 CONSOL NET PROFIT 595.1 MILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 8.41 BILLION RUPEES

Source text: ID:nBSE95RTfH

Further company coverage: DLMI.NS

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** Indian sugar companies gain between 2.4% and 6.6%

** Indian government preparing for final decision on proposed ethanol price increase, ET Now reports citing sources

** Report says price of ethanol made from B-heavy molasses expected to rise by ~2 rupees/litre, while price of ethanol made from sugarcane juice likely to climb 1.50 rupees/litre

** Balrampur Chini Mills BACH.NS, Bajaj Hindusthan Sugar BJHN.NS, Dhampur Sugar Mills DAMS.NS, Dalmia Bharat Sugar and Industries DLMI.NS, E.I.D. - Parry (India) EIDP.NS, Shree Renuka Sugars SRES.NS, Triveni Engineering and Industries TREI.NS up 2.4%, 3.9%, 6.6%, 4.8%, 3%, 4.1% and 2.9%, respectively

** In 2024, BJHN, BACH, TREI, EIDP advanced 9.2%, 29.1%, 32.3%, 60.5%, respectively; SRES lost 16.3%, DLMI fell 12% and DAMS shed 36.3%

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of Indian sugar companies jump between 3% and 7%

** ET Now reports citing sources that India is likely to lift restrictions on sugar exports

** India, the world's biggest sugar producer after Brazil, had banned mills from exporting the sweetener from Oct. 1, 2023

** Triveni Industries and Engineering TREI.NS, Shree Renuka Sugars SRES.NS, Dalmia Bharat Sugar DLMI.NS, Bajaj Hindusthan Sugar BJHN.NS and Balrampur Chini Mills BACH.NS jump 3%, 4.5%, 5.5%, 7.0%, and 7.2%, respectively

** In 2024, SRES fell 16%, DLMI was down 12%, while BJHN, BACH and TREI rose 9%, 29% and 32%, respectively

(Reporitng by Nishit Navin)

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Oct 28 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• DALMIA BHARAT SUGAR AND INDUSTRIES Q2 CONSOL NET PROFIT 661.8 MILLION RUPEES

• DALMIA BHARAT SUGAR AND INDUSTRIES Q2 CONSOL REVENUE FROM OPERATIONS 9.26 BILLION RUPEES

Source text: [ID:]

Further company coverage: DLMI.NS

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** Shares of Oriana Power OIAN.NS rise as much as 5%, last up 2.9% to 2,226 rupees

** Co's unit got solar power plant development contract from Dalmia Bharat DALB.NS worth 5.2 bln rupees ($61.9 mln)

** DALB stock down 1.7%

** OIAN on track to snap three-day losing run, if trend holds

** Stock up 4.7X YTD vs 3.6X climb in rival Waaree Renewable Technologies WAAE.BO

($1 = 83.9550 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

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** Shares of Indian sugar makers down between 2%-3%

** India plans to extend a ban on sugar exports for the second straight year as it grapples with the prospects of lower cane output, government sources told Reuters

** Shree Renuka Sugars SRES.NS down 3%

** Balrampur Chini Mills BACH.NS down 2.6%

** Dalmia Bharat Sugar and Industries DLMI.NS down 2.4%

** Dwarikesh Sugar Industries DWAR.NS down 2.4%

** Triveni Engineering TREI.NS down 3%

** YTD, SRES is up 0.9%, BACH up ~40%, DLMI up 9.5% while DWAR is down 16.1%, TREI up 38%

(Reporting by Ashish Chandra in Bengaluru)

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Adds details, comments from industry officials

By Rajendra Jadhav

MUMBAI, Aug 29 (Reuters) - India will allow sugar mills to use cane juice or syrup to produce ethanol in the new marketing year starting Nov. 1, the government said in a notification on Thursday.

The world's second-biggest sugar producer imposed restrictions on diverting sugar for ethanol production in December 2023 to increase sugar output after cane crop was hit by below-average monsoon rains.

In the new season, distilleries can also use B-heavy molasses, a byproduct with higher sucrose levels, for ethanol production, the government said in the notification.

Around 750,000 metric tons of B-heavy molasses are lying in stock with mills after the government restricted ethanol production from this feedstock last year, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd.

"Now that the restriction is lifted, they can use these stocks," Naiknavare said.

Indian sugar mills such as E.I.D.-Parry EIDP.NS, Balrampur Chini Mills BACH.NS, Shree Renuka SRES.NS, Bajaj Hindusthan BJHN.NS, and Dwarikesh Sugar DWAR.NS have increased their ethanol production capacity in the last few years.

The south Asian country also allowed distilleries to purchase up to 2.3 million metric tons of rice from the state-run Food Corporation of India (FCI) for ethanol production, the government said in a separate notification.

"The permission to utilise FCI rice as a feedstock will enhance ethanol production from dual-feed distilleries," said Vijay Nirani, managing director of TruAlt Bioenergy Ltd.

The two policy changes will not only help increase ethanol blending in gasoline but also help mills and distilleries make timely cane payments to millions of farmers, Nirani said.

India aims to increase ethanol production to blend 20% ethanol into gasoline by 2025-26, from around 13% now.

(Reporting by Rajendra Jadhav; Editing by Kirsten Donovan and Devika Syamnath)

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Aug 2 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• DALMIA BHARAT SUGAR AND INDUSTRIES JUNE-QUARTER CONSOL NET PROFIT 547.3 MILLION RUPEES

• DALMIA BHARAT SUGAR AND INDUSTRIES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 9.6 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: DLMI.NS

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Repeats July 27 story to reach additional subscribers with no changes to text

By Rajendra Jadhav

MUMBAI, July 27 (Reuters) - India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season.

India, the world's largest sugar consumer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices.

"We are discussing the MSP (proposal). In the coming days, we will hopefully take a call," Food Secretary Sanjeev Chopra told reporters during a conference.

The sugar-processing industry has been demanding an increase in the minimum selling price, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Industry bodies say a higher MSP would enable them to make timely payments to millions of sugarcane farmers in the upcoming season starting on Oct. 1.

Chopra said the production outlook for the next season has improved due to good monsoon rainfall and increased sugarcane acreage, allowing the government to formulate policies for the next year.

The sugarcane area has edged up to 5.77 million hectares (14.3 million acres) from 5.7 million hectares (14.1 million acres) a year ago, farm ministry data showed.

"We should be having very healthy stocks at the end of the present sugar season, which would allow us to have better planning of its diversion in the next year," Chopra said, referring to sugar's use in ethanol production.

India is expected to begin the new marketing year with carryover stocks of 8 million to 8.5 million metric tons, he said.

(Reporting by Rajendra Jadhav;
Editing by Helen Popper)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

By Rajendra Jadhav

MUMBAI, July 27 (Reuters) - India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season.

India, the world's largest sugar consumer, restricted the use of sugar in ethanol production during the 2023/24 marketing year that ends on Sept. 30 and also prohibited exports to keep a lid on domestic prices.

"We are discussing the MSP (proposal). In the coming days, we will hopefully take a call," Food Secretary Sanjeev Chopra told reporters during a conference.

The sugar-processing industry has been demanding an increase in the minimum selling price, saying the government has raised the mandatory procurement price of sugarcane in recent years while the MSP has remained unchanged since 2019.

Industry bodies say a higher MSP would enable them to make timely payments to millions of sugarcane farmers in the upcoming season starting on Oct. 1.

Chopra said the production outlook for the next season has improved due to good monsoon rainfall and increased sugarcane acreage, allowing the government to formulate policies for the next year.

The sugarcane area has edged up to 5.77 million hectares (14.3 million acres) from 5.7 million hectares (14.1 million acres) a year ago, farm ministry data showed.

"We should be having very healthy stocks at the end of the present sugar season, which would allow us to have better planning of its diversion in the next year," Chopra said, referring to sugar's use in ethanol production.

India is expected to begin the new marketing year with carryover stocks of 8 million to 8.5 million metric tons, he said.

(Reporting by Rajendra Jadhav;
Editing by Helen Popper)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of Indian sugar companies surge on reports govt will increase minimum selling price for the commodity

** Shares of Dalmia Bharat Sugar and Industries DLMI.NS, Triveni Industries TREI.NS, Bajaj Hindusthan Sugar BJHN.NS Dhampur Sugar Mills DAMS.NS and Balrampur Chini Mills BACH.NS rise between 4% and 14%

** EID Parry EIDP.NS up 2%

** BJHN hits highest since Sept 2011

** Bajaj Hindusthan top gainer among sugar stocks YTD, up 50%, while Dhampur down 1.5% so far this year

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

BENGALURU, May 14 (Reuters) - India's Dalmia Bharat Sugar and Industries DLMI.NS reported a near 25% fall in fourth-quarter profit on Tuesday, hurt by a drop in sales in its mainstay refined sugar segment.

WHY IT'S IMPORTANT

India, the world's second-largest sugar producer, has not allowed exports in the current season to keep a lid on local prices, due to the elections and uneven rainfall in the primary sugarcane-growing states of Maharashtra and Karnataka.

Peers Dhampur Sugar Mills DAMS.NS and Dwarikesh Sugar Industries DWAR.NS too reported a fall in their respective quarterly profits.

With the majority of India's sugar mills having completed crushing for the 2023/24 season, output as of May 1 stands at 31.59 million metric tons, according to the National Federation of Cooperative Sugar Factories, down 1.8% from the previous full year.

CONTEXT

India's sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures.

Dalmia Bharat Sugar's major business segments include sugar and distillery. It supplies sugar to companies like Coca-Cola, PepsiCo, Britannia, Walmart India, Dabur, United Breweries, and Carlsberg.

The company also sells ethanol to Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, according to its website.

BY THE NUMBERS

Dalmia Bharat Sugar reported a consolidated net profit of 933.7 million Indian rupees ($11.2 million) for the quarter ended March 31, compared with 1.24 billion rupees last year.

Revenue from operations fell 34.8% to 7.5 billion rupees.

Total sugar sales fell 42.2% during the quarter.

The company recommended a dividend of 1.25 rupees per share for fiscal 2024.

GRAPHIC

($1 = 83.4800 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Varun H K and Vijay Kishore)

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NEW DELHI, April 24 (Reuters) - India has agreed to allow oil marketing companies to procure ethanol by diverting an extra 800,000 metric tons of sugar for biofuel production, a government source said on Wednesday.

Concerns over sugar production due to below normal monsoon rains between June and September had led the world's second-largest to cap the amount that could be diverted for ethanol in the current season to end-September at 1.7 million metric tons.

But as the supply situation has improved as a result of unseasonal rainfall in Maharashtra and Karnataka, the government has agreed to the diversion of an additional 800,000 tons of sugar for ethanol production, said the senior industry official.

"Many sugar mills produced B-heavy molasses in anticipation of ethanol production. However, these stocks remain unused after the government capped the diversion of sugar for ethanol. Mills can now use stored B-heavy molasses for ethanol production," said the official, who spoke on condition of anonymity.

(Reporting by Mayank Bhardwaj and Rajendra Jadhav; Editing by Alexander Smith)

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March 15 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• COMMERCIAL PRODUCTION UNIT BAGHAULI SUGAR AND DISTILLERYCOMMENCED FROM MARCH 15

Further company coverage: DLMI.NS

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** Shares of Shree Renuka Sugars SRES.NS trims some losses to trade 5.5% lower; down as much as 6.4% at 49.2 rupees earlier in the session

** Co on Friday posted consol net loss of 1.72 bln rupees ($20.7 mln) for Dec-qtr compared with a profit of 143 mln rupees a year earlier

** Its expenses rose 23% y/y, outpacing rev growth of 18%

** Peers K.M. Sugar Mills KMSU.NS, Dwarikesh Sugar Industries DWAR.NS, Triveni Engineering TREI.NS posted fall in Q3 profit, while Dalmia Bharat Sugar DLMI.NS reported a flat profit

** SRES set for worst one-day fall since Dec. 8, when sugar stocks fell after govt's plans to curb ethanol production

** Stock fell ~19% in 2023, after gaining for three consecutive years

($1 = 82.9925 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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** Shares of sugar maker K.M. Sugar Mills KMSU.NS slide ~6%, their steepest drop since Oct 2023

** Co reported a ~85% plunge in Q3 consol profit; rev from ops fell 39.5%, while input costs swelled ~72%

** Stock had gained 15.5% in past 2 days on heavy vols

** Dalmia Bharat Sugar DLMI.NS, Dwarikesh Sugar DWAR.NS and Dhampur Sugar Mills DAMS.NS also reported Q3 profit fall

** Shares of DWAR and DAMS fell nearly 17% each in Q3, while KMSU and DMLI fell less than 10%

** Over 2.2 mln KMSU shares traded on the day, ~3x the 30-day avg but less than previous two session

(Reporting by Manvi Pant in Bengaluru)

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Feb 2 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• DALMIA BHARAT SUGAR AND INDUSTRIES DEC-QUARTER NET PROFIT 649.2 MILLION RUPEES VERSUS PROFIT 649.1 MILLION RUPEES

• DALMIA BHARAT SUGAR AND INDUSTRIES LTD DEC-QUARTER REVENUE FROM OPERATIONS 5.84 BILLION RUPEES VERSUS 6 BILLION RUPEES

Source text for Eikon: ID:nNSEbJGghF

Further company coverage: DLMI.NS

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Feb 1 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• FILED E-APPEAL AGAINST TAX ORDER WITH EXPECTED FINANCIAL IMPLICATION OF 204.9 MILLION RUPEES

Source text for Eikon: ID:nBSE3MZkrJ

Further company coverage: DLMI.NS

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** Shares of Indian sugar companies rise between 1% and 3% after Reuters reported India's state fuel retailers raised procurement prices for ethanol

** Move aimed at boosting production of ethanol, which is used for blending with petrol

** Shares of Dalmia Bharat Sugar and Industries DLMI.NS, Triveni Industries TREI.NS, Bajaj Hindusthan Sugar BJHN.NS Dhampur Sugar Mills DAMS.NS rise between 1% and 3%

** Balrampur Chini Mills BACH.NS gain 3%

** Meanwhile, refiners were down, with Bharat Petroleum Corp BPCL.NS, Indian Oil IOC.NS and Hindustan Petroleum Corp HPCL.NS falling between 3%-4%

(Reporting by Sethuraman NR in Bengaluru)

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Dec 13 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• COMPANY FILED APPEAL AGAINST NCLT ORDER BEFORE NATIONAL COMPANY LAW APPELLATE TRIBUNAL

Source text for Eikon: ID:nBSE4bxH9S

Further company coverage: DLMI.NS

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Nov 17 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• THERE IS DISRUPTION OF OPERATIONS AT KOLHAPUR AND NINAIDEVI UNITS, IN STATE OF MAHARASHTRA

• THERE COULD BE A MATERIAL IMPACT

• DISRUPTION IN UNITS DUE TO FARMER'S SANGATHAN AGITATION

Source text for Eikon: ID:nNSE1jkySS

Further company coverage: DLMI.NS

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** Shares of Dalmia Bharat Sugar and Industries DLMI.NS up as much as 4.6% to 490 rupees

** Stock hits highest level since April 27, 2022; on track for a second consecutive session of gains, if trend holds

** Co on Monday reported a more than four-fold jump in net profit to 549 mln rupees ($6.59 million) from 117.1 mln rupees the year ago

** Revenue from operations rose 26.4% to 7.32 bln rupees

** Stock currently up 2.4% pushing YTD gains to about 26%

($1 = 83.2500 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Nov 6 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• DALMIA BHARAT SUGAR AND INDUSTRIES LTD - GAVE APPROVAL FOR SETTING UP GREENFIELD SUGAR PLANT IN UTTAR PRADESH

• DALMIA BHARAT SUGAR AND INDUSTRIES LTD - DUE TO LACK OF CLARITY ON GRAIN AVAILABILITY, TO HOLD SETTING UP DISTILLERY AT NIGOHI UNIT

• DALMIA BHARAT SUGAR AND INDUSTRIES LTD - TO HOLD SETTING UP OF GRAIN-BASED DISTILLERY AT NIGOHI UNIT

• DALMIA BHARAT SUGAR AND INDUSTRIES LTD - BOARD SANCTIONED CAPITAL OUTLAY OF 3.5 BILLION RUPEES FOR FIRST PHASE

Source text for Eikon: ID:nNSEB3QL2

Further company coverage: DLMI.NS

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Updates with milestones, other sugar stocks moves

** Shares of Shree Renuka Sugars SRES.NS rise as much as 5.3% to 57.25 rupees, hitting their highest since Jan 5; other sugar cos rise too

** The agri-business and bio-energy co says it will buy Anamika Sugar Mills, based in Uttar Pradesh nBSEz76K7

** Adds it will infuse 1.1 bln rupees ($13.23 mln) in Anamika via subscription to equity shares

** Deal props up other sugar stocks such as Dalmia Bharat Sugar and Industries DLMI.NS which advances about 6.5%; Triveni Industries TREI.NS and Dhampur Sugar Mills DAMS.NS rise as much as 5.9% and 8.1% respectively

** As of YTD, stock has fallen ~3.2%

($1 = 83.1360 Indian rupees)

(Reporting by Archishma Iyer in Bengaluru)

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By Rajendra Jadhav

MUMBAI, Sept 13 (Reuters) - Sugar output in Maharashtra, India's top producing state, is likely to fall 14% in the 2023/24 crop year to its lowest in four years due to lower cane yields following the driest August in more than a century, industry and government officials told Reuters on Wednesday.

The reduced output could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices SBc1, LSUc1 which are already near their highest in more than a decade.

Higher domestic prices will, however, improve margins for producers such as Balrampur Chini BACH.NS, Dwarikesh Sugar DWAR.NS, Shree Renuka Sugars SRES.NS and Dalmia Bharat Sugar DLMI.NS, helping them make payments on time to farmers.

The western state of Maharashtra, which accounts for more than a third of India's sugar output, could produce 9 million metric tons in the 2023/24 season (which begins on Oct. 1), down from 10.5 million tons in 2022/23, said B.B. Thombare, president of the West Indian Sugar Mills Association.

"The sugar cane crop didn't receive ample rainfall during the crucial growth phase this year. In almost all districts, the crop's growth is stunted," he said.

Maharashtra, which often surprises the global sugar market with wide swings in production, received 59% lower rainfall than normal during August.

Maharashtra's sugar commissioner Chandrakant Pulkundwar said he had been informed by representatives from sugar mills during a review meeting that cane yields would be lower this year due to a prolonged dry spell and higher temperatures.

The crop badly needs good rainfall in September to limit damage caused by the dry spell, Pulkundwar said.

India is likely to receive an average amount of rainfall in September, the state-run weather department has forecast, after the driest August in more than a century.

Maharashtra's output is crucial to India's ability to export, making the outlook for overseas shipments dismal for the coming season, a Mumbai-based dealer with a global trading house said, declining to be named due to his company's policy.

In 2021/22 Maharashtra produced a record 13.7 million tons, allowing New Delhi to export a record 11.2 million tons.

As Maharashtra's output fell to 10.5 million tons in 2022/23, India curtailed exports to 6.1 million tons.

New Delhi is expected to ban mills from exporting sugar in the season beginning October, halting shipments for the first time in seven years, three government sources told Reuters last month.

(Reporting by Rajendra Jadhav; Editing by Simon Cameron-Moore)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of Indian sugar manufacturers gain between 2.6% and 13%

** Rise after India announced launch of global biofuel alliance at G20 summit

** India advanced deadline by 5 years for doubling nationwide ethanol blending in gasoline to 20%

** Ethanol is derived from sugarcane through fermentation and is used as alternative to fossil fuels

** Shares of Praj Industries PRAJ.NS hit record high, rising 15.3% to 598 rupees

** Shares of Shree Renuka Sugars SRES.NS, Dwarikesh Sugar Industries DWAR.NS, Balrampur Chini Mills BACH.NS, Dalmia Bharat Sugar and Industries DLMI.NS rise between ~3.5% and 7.2%

** Volumes of SRES.NS, DWAR.NS, BACH.NS and DLMI.NS around 0.7x-0.8x the 30-day avg as of 09:47 a.m IST, while PRAJ volumes at 2.6x the 30-day avg

(Reporting by Anisha Ajith in Bengaluru)

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** Shares of Indian sugar manufacturers rise between 1.7% and 6.1%

** Sugar prices in India have jumped by more than 3% in a fortnight to their highest level in six years, Reuters reported on Tuesday

** Limited rainfall in the country's key growing regions raised production concerns for the upcoming season which could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices which are near their highest in more than a decade

** Balrampur Chini Mills BACH.NS up as much as 2.2%, Shree Renuka Sugars SRES.NS climbs 5.5%, Dalmia Bharat Sugar DLMI.NS gains 8% and Dwarikesh Sugar DWAR.NS adds 3.7%

** Higher prices will, however, improve margins for producers such BACH, DWAR, SRES and DLMI, helping them make payments on time to farmers, dealers told Reuters

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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By Rajendra Jadhav

MUMBAI, Sept 5 (Reuters) - Sugar prices in India have jumped by more than 3% in a fortnight to their highest level in six years, traders and industry officials said, as limited rainfall in the country's key growing regions raised production concerns for the upcoming season.

This could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices SBc1, LSUc1 which are near their highest in more than a decade.

"Sugar mills are worried that production could fall sharply in the new season because of drought. They are not willing to sell at lower price," said Ashok Jain, president of the Bombay Sugar Merchants Association.

Higher prices will, however, improve margins for producers such as Balrampur Chini BACH.NS, Dwarikesh Sugar DWAR.NS, Shree Renuka Sugars SRES.NS and Dalmia Bharat Sugar DLMI.NS, helping them make payments on time to farmers, dealers said.

Sugar output could fall by 3.3% to 31.7 million metric tons in the new season starting from Oct. 1 as low rainfall hits cane yields in the western state of Maharashtra and Karnataka in southern India, which together account for more than half of total Indian output, a leading trade body estimated.

Although sugar prices SUG-MMZR-NCX rose to 37,760 rupees ($454.80) per metric ton on Tuesday, their highest since Oct. 2017. Indian prices are nearly 38% lower than the global white sugar benchmark LSUc1.

The price rise will dissuade the Indian government from allowing exports in the new season, Jain said.

India allowed mills to export only 6.1 million metric tons of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million metric tons last season.

New Delhi is expected to ban mills from exporting sugar in the season beginning October, halting shipments for the first time in seven years, three government sources told Reuters last month.

Sugar prices could rise further in the coming months as stocks are falling, and the peak festive season is approaching, said a Mumbai-based trader.

(Reporting by Rajendra Jadhav; Editing by Alexander Smith)

(([email protected]; +91-22-68414378 ; Reuters Messaging: [email protected]))

** Shares of Himadri Specialty Chemical HIMD.NS jump as much as 4.74% to a more-than-five year high of 190.95 rupees

** Specialty chemicals maker says committee of creditors has approved its insolvency resolution plan for Birla Tyres

** Resolution plan jointly submitted by HIMD and the unlisted Dalmia Bharat Refractories

** HIMD and Dalmia Bharat Refractories have accepted the letter of intent from Birla Tyres' insolvency resolution professional

** Relative strength index above 70 since August 4, suggesting stock is in overbought zone - Refinitiv data

** HIMD up ~86% in 2023 so far, including today's gains

(Reporting by Bharath Rajeswaran in Bengaluru)

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Aug 1 (Reuters) - Dalmia Bharat Sugar and Industries Ltd DLMI.NS:

• INDIA'S DALMIA BHARAT SUGAR AND INDUSTRIES LTD JUNE-QUARTER NET PROFIT FROM CONTINUING OPERATIONS 613.4 MILLION RUPEES VERSUS PROFIT 541.7 MILLION RUPEES

• DALMIA BHARAT SUGAR AND INDUSTRIES LTD JUNE-QUARTER REVENUE FROM OPERATIONS 8.34 BILLION RUPEES VERSUS 9.24 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: DLMI.NS

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