| Sugar | Manufacture and sale of refined sugar and by-products like molasses and bagasse. | Integrated operations with captive raw material supply and co-generation reducing costs. | B2B buyers including food and beverage manufacturers and wholesalers. | Refined sugar and value-added by-products. | 100 | 76 | Revenue from sugar sales to manufacturers, distributors, and local markets. | Sales based on market pricing with some government price supports and MSP regulations. | Improved sugar recovery rates and increased sales volumes; government export and MSP policies. | |
| Distillery | Production and sale of industrial ethanol and denatured spirits. | Large distillery capacity and feedstock access within sugar mills. | Primarily B2B customers including fuel blenders and industrial ethanol consumers. | Ethanol blended fuels. | 30 | 22 | Revenue through ethanol sales to oil marketing companies and industrial buyers. | Contractual sales largely linked to government ethanol purchase policies. | Rising ethanol blending mandates and government support for biofuels. | |
| Co-generation | Generation and sale of renewable power from bagasse-based co-generation plants. | Captive fuel (bagasse) and strategic location enabling cost-efficient power generation. | Utility companies and internal consumption for manufacturing plants. | Renewable power with favorable tariffs and subsidies. | 3 | 2 | Sales of electricity to grid and captive consumption reducing costs. | Power sold based on grid tariffs and power purchase agreements. | Increasing focus on renewable energy and efficient use of by-products. | |
