| Sugar & Co-generation | Production and sale of sugar and renewable power generated from bagasse-based cogeneration. | Integrated operations with captive raw material supply, multiple manufacturing plants, and strong regional presence. | B2B and B2C including industrial customers, retailers, and power utilities. | Power cogeneration contributes higher margins due to renewable energy incentives. | 1259 | 93 | Revenue from sale of sugar and power to domestic consumers and state electricity boards. | Primarily spot and contract-based sales; regulated pricing influenced by government policies. | Government sugar export quotas, ethanol blending policies, and regional sugarcane crop quality. | Bundki Sugar |
| Distillery | Production and sale of industrial alcohol including ethanol used in fuel blending and other industries. | Expanded distillery capacity, government blending incentives, and feedstock flexibility enhance competitive positioning. | B2B customers including Oil Marketing Companies and industrial users. | Ethanol production from B-heavy molasses offers better margins under current policies. | 383 | 7 | Sales of ethanol and industrial spirits mainly under government contracts and open market. | Pricing partially regulated based on government-set ethanol procurement prices and oil sector tenders. | Increasing ethanol blending mandates and capacity expansions. | Industrial Alcohol and Ethanol |
