Explore top sugar stocks in India for 2025! Get market cap, investment insights & analysis of EID Parry, Balrampur Chini in this article.
The sugar industry in India is a powerful factor, making India one of the largest sugar producing countries in the world. With over 50 million farmers involved in sugarcane farming and over 6 lakh workers directly employed in sugar factories, the sector is a pillar of rural India.
Apart from sugar production, these companies are focusing on by-products like ethanol (used for fuel blending) and bagasse-based power generation, which have increased their sources of income. The Indian government’s promotion of ethanol blending policy (targeting 20% and now 30% blending) has given sugar companies a major boost, making them a focal point for investors.
Sugar companies in India depend on several factors, such as government policies, monsoon patterns, global sugar prices and domestic demand. The data we will be studying in this article, as of May 12, 2025, from the AlphaMojo Screener, provides a glimpse of the leading players in the industry.
What are Sugar Stocks?
Sugar stocks are shares of companies that produce sugar, ethanol, molasses, and bagasse-based power from sugarcane. India is one of the world’s largest sugar producers, and investing in sugar stocks is a way to capitalize on the growth in the agriculture and energy sectors. These companies earn income from sugar sales as well as ethanol production and power generation, making sugar stocks a diversified option for investors.
Sugar Stocks in India
Sugar stocks in India play a key role in India’s economy. The sugar industry in India is the second largest agro-based industry, supporting 50 million farmers and directly employing over 6 lakh people. Investing in sugar stocks is not limited to sugar production alone, but ethanol and power generation have given a new impetus to the sector. The Indian government’s ethanol blending policy (targeting a 20% ethanol blend) has given a boost to sugar stocks.
All Sugar Stocks
The All Sugar Stocks list includes several companies in India, which are listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). These range from large companies to small and mid-sized companies. Some of the prominent names include EID Parry, Bajaj Hindustan, Dwarikesh Sugar and Avadh Sugar. The list of sugar stocks helps investors to choose according to their risk appetite.
All Sugar Stocks List in India
| Company Name | NSE Symbol | BSE Code | Market Cap (₹ Cr)* | Industry Role |
|---|---|---|---|---|
| EID Parry (India) Ltd. | EIDPARRY | 500125 | 6,500+ | Integrated Sugar Producer |
| Balrampur Chini Mills Ltd. | BALRAMCHIN | 500038 | 8,000+ | Sugar & Ethanol Production |
| Bajaj Hindusthan Sugar Ltd. | BAJAJHIND | 500032 | 2,500+ | Sugar Manufacturing |
| Dwarikesh Sugar Industries Ltd. | DWARKESH | 532610 | 1,200+ | Sugar & Power Generation |
| Avadh Sugar & Energy Ltd. | AVADHSUGAR | 540649 | 1,000+ | Sugar, Distillery & Power |
| Triveni Engineering Ltd. | TRIVENI | 532356 | 5,000+ | Sugar, Engineering & Ethanol |
| Dalmia Bharat Sugar Ltd. | DALMIASUG | 500097 | 1,500+ | Sugar, Power & Ethanol |
| Dhampur Sugar Mills Ltd. | DHAMPURSUG | 500119 | 2,000+ | Integrated Sugar Operations |
| Uttam Sugar Mills Ltd. | UTTAMSUGAR | 532729 | 1,100+ | Sugar & Bio-energy |
| Shree Renuka Sugars Ltd. | RENUKA | 532670 | 3,000+ | Sugar Refining & Trading |
| The Andhra Sugars Ltd. | ANDHRSUGAR | 500035 | 900+ | Sugar & Chemicals |
| KCP Sugar & Industries Corp. | KCPSUGIND | 507836 | 400+ | Sugar & Co-generation |
| Rajshree Sugars & Chemicals | RAJSREESUG | 500354 | 300+ | Sugar & Ethanol |
| Mawana Sugars Ltd. | MAWANASUG | 532512 | 250+ | Sugar & Industrial Chemicals |
*Note: Market caps are approximate and may vary with time.
This list helps investors explore various options in sugar stocks.
List of Best Sugar Stocks in India
While choosing the best sugar stocks, investors should consider the company’s financial stability, market share and diversification in by-products. Some notable sugar stocks include Balrampur Chini Mills, Shree Renuka Sugar, Dhampur Sugar Mills and Triveni Engineering. These companies are also active in ethanol and power generation along with sugar production, which makes their shares attractive for investment.
| Company Name | Key Business Areas | Strengths | NSE Symbol | Market Cap (₹ Cr)* |
|---|---|---|---|---|
| Balrampur Chini Mills Ltd. | Sugar, Ethanol, Power Generation | Largest sugar producer, high ethanol capacity | BALRAMCHIN | 10608.96 |
| Triveni Engineering Ltd. | Sugar, Ethanol, Engineering | Diversified business, strong financials | TRIVENI | 8910.24 |
| Shree Renuka Sugars Ltd. | Sugar Refining, Ethanol | Global presence, strong refining capabilities | RENUKA | 5844.83 |
| Dhampur Sugar Mills Ltd. | Sugar, Ethanol, Power | Integrated operations, consistent profitability | DHAMPURSUG | 2,000+ |
| EID Parry (India) Ltd. | Sugar, Nutraceuticals, Bio-products | Backed by Murugappa Group, diversified products | EIDPARRY | 14897.82 |
| Dalmia Bharat Sugar Ltd. | Sugar, Ethanol, Co-gen Power | Strong presence in ethanol segment | DALMIASUG | 3003.65 |
*Note: Market cap values are approximate and may change with market conditions.
These companies are considered among the best due to their consistent performance, expansion into ethanol blending and power generation, and strong fundamentals. They offer more than just sugar—making them attractive for medium to long-term investors.
Top 10 Sugar Stocks in India by Market Cap (2025)
Top 10 Sugar Stocks in India includes companies selected on the basis of market capitalization, profit margin and growth potential. The following list shows some of the popular sugar stocks in 2025.
Here is a detailed look at the top sugar companies in India by market capitalization as on May 12, 2025, as per the latest data. These companies have established themselves as leaders in the sector by balancing their diversification in sugar production and ethanol, energy, etc.
1. EID-Parry (India) Limited – ₹14,897.82 crore
EID-Parry (India) Limited tops the list with a market cap of ₹14,897.82 crore. One of the oldest sugar companies in India, EID-Parry maintains a strong presence in the sugar, ethanol and bio-products sectors. The company is part of the Murugappa Group, which gives it a strong financial backing. EID-Parry has adopted sustainable practices, using bagasse for power generation and ethanol production. Its diversified revenue streams and focus on innovation make it stand out among sugar companies.
2. Balrampur Chini Mills Limited – ₹10,608.96 crore
With a market cap of ₹10,608.96 crore, Balrampur Chini Mills Limited is a major player in the sugar sector. Based in Uttar Pradesh, which is the largest sugarcane producing state in India, Balrampur Chini has a strong production capacity. The company operates several sugar mills and has invested heavily in ethanol production, which aligns it with the government’s renewable energy goals. Balrampur Chini is known for its efficiency and consistent financial performance, making it a favorite among investors looking for stable sugar companies.
3. Triveni Engineering & Industries Limited – ₹8,910.24 crore
Triveni Engineering & Industries Limited is ranked third with a market cap of ₹8,910.24 crore. Triveni is a diversified player, with interests in sugar, ethanol and engineering (particularly water treatment and power transmission). The company’s sugar division is one of the largest in India, and its focus on ethanol production has helped it grow its revenue in the past few years. Triveni’s ability to balance sugar and engineering businesses makes it a flexible sugar company, offering investors stability and growth prospects.
4. Shree Renuka Sugar Limited – ₹5,844.83 crore
Shri Renuka Sugar Limited, with a market cap of ₹5,844.83 crore, is another notable name in the sugar industry. The company has a strong presence in two major sugarcane-growing states, Karnataka and Maharashtra. Shree Renuka has expanded internationally, making it one of the few Indian sugar companies with refining capacity in Brazil. Its focus on ethanol and power generation has maintained its consistent growth, making it attractive to investors looking to invest in sugar companies with an international presence.
5. Bannari Amman Sugar Limited – ₹4,900.51 crore
Bannari Amman Sugar Limited is at the fifth position with a market cap of ₹4,900.51 crore. Based in Tamil Nadu, this company has a long history in the sugar industry and operates several sugar factories with integrated ethanol and power generation facilities. Bannari Amman is known for its quality and sustainability, which has earned it a loyal customer base. For investors, this company is a stable option among sugar companies, offering consistent dividends and steady growth.
6. Piccadilly Agro Industries Limited – ₹4,651.86 crore
Piccadilly Agro Industries Limited, with a market cap of ₹4,651.86 crore, is a rising star in the sugar sector. The company has made significant strides in ethanol production, taking advantage of the government’s ethanol blending programme. Piccadilly also produces premium liquor brands, which provides a unique source of revenue for it. Its growing growth and diversified business model make it an attractive option for investors looking to invest in sugar companies with an innovative approach.
7. Dalmia Bharat Sugar & Industries Limited – ₹3,003.65 crore
Dalmia Bharat Sugar & Industries Limited has a market cap of ₹3,003.65 crore. The company, based in Uttar Pradesh, focuses on sustainability, which includes initiatives such as water conservation and renewable energy generation. Dalmia Bharat Sugar has invested heavily in modernizing its factories, improving efficiency and increasing ethanol production. As one of the progressive sugar companies, it attracts investors who balance environmental responsibility with financial performance.
8. Bajaj Hindustan Sugar Limited – ₹2,440.18 crore
Bajaj Hindustan Sugar Limited, with a market cap of ₹2,440.18 crore, is a well-known name in the sugar industry. The company faced challenges in the past due to high debt, but a recent restructuring has put it on a growth path. Bajaj Hindustan operates some of the largest sugar factories in India and is increasing ethanol production. Although it carries higher risk compared to other sugar companies, the prospect of a turnaround makes it a speculative option for investors.
9. Uttam Sugar Mills Limited – ₹1,051.65 crore
Uttam Sugar Mills Limited, with a market cap of ₹1,051.65 crore, is a small player but has huge potential. The Uttar Pradesh-based company focuses on sugar, ethanol and power generation. Uttam Sugar has worked to improve efficiency and reduce debt, which has boosted investor confidence. For those looking for sugar companies with low valuations, Uttam Sugar Mills offers a growth opportunity.
10. Avadh Sugar & Energy Limited – ₹1,049.16 crore
Last on the list is Avadh Sugar & Energy Limited, which has a market cap of ₹1,049.16 crore. Based in Uttar Pradesh, Avadh Sugar is part of the K.K. Birla Group and operates integrated sugar mills along with ethanol and power generation facilities. The company has shown consistent performance, focusing on cost efficiency and sustainability. Avadh Sugar is a solid option for investors looking for stability in small-cap stocks.
*Note: Market cap values are approximate and updated as of 2025.
These Top 10 Sugar Stocks in India have gained investor trust due to their financial strength, focus on ethanol production, and government support for biofuel initiatives. They are suitable for investors looking for sectoral growth opportunities.
Sugar Stocks NSE
Sugar Stocks NSE refers to stocks listed on the National Stock Exchange. Sugar stocks listed on the NSE include companies like Balrampur Chini, Shri Renuka Sugar and Triveni Engineering. While investing in sugar stocks on NSE, investors need to study real-time data, trading volume and market fluctuations. Since the price of sugar stocks fluctuates, it is important to make buy and sell decisions at the right time.
Sugar Stocks Share Price (2025)
Sugar stocks share price is an important consideration for investors. The prices of stocks depend on several factors, such as sugar demand, ethanol policy, weather conditions and global sugar prices. For example, Balrampur Chini Mills stock is trading at around Rs 600-650 per share in 2025, while Shree Renuka Sugar stock is trading around Rs 50-60 per share. While studying the share price of sugar stocks, investors should consider metrics such as P/E ratio and dividend yield.
| Company Name | Share Price (₹)* | P/E Ratio* | Dividend Yield (%)* | Remarks |
|---|---|---|---|---|
| Balrampur Chini Mills | ₹620 | 15.2x | 1.80% | Stable price, strong ethanol capacity |
| Shree Renuka Sugars | ₹55 | 62.5x | 0.00% | Low-price stock, higher volatility |
| Triveni Engineering | ₹370 | 12.8x | 1.20% | Value pick with diversified revenue |
| Dhampur Sugar Mills | ₹330 | 10.6x | 1.50% | Balanced between growth and dividends |
| EID Parry (India) | ₹610 | 14.9x | 1.40% | Good fundamentals, part of Murugappa Group |
| Dwarikesh Sugar | ₹95 | 13.3x | 1.60% | Small-cap growth potential |
| Bajaj Hindusthan Sugar | ₹28 | — | 0.00% | High-debt, turnaround potential |
| Avadh Sugar & Energy | ₹525 | 8.9x | 2.00% | Strong dividend player |
| Magadh Sugar & Energy | ₹490 | 9.4x | 2.10% | Consistent performer in mid-cap segment |
| Piccadilly Agro Industries | ₹130 | 11.2x | 0.80% | Small-cap, ethanol-focused growth story |
*All figures are approximate estimates as of 2025 and may vary based on market fluctuations.
Investor Tip: While analyzing sugar stocks share price, consider additional factors like earnings growth, government ethanol blending policies, monsoon quality, and global sugar demand-supply trends.
Why are sugar stocks rising?
The major reasons behind why sugar stocks are rising are as follows:
1. Ethanol Blending Policy:
The Indian government has set a target of 20% and now 30% ethanol blending in petrol, which is giving sugar companies additional revenue from ethanol production.
2. Sugar Demand:
The demand for sugar in India is steadily increasing, especially in the food and beverage industry.
3. Export Opportunities:
India is a major sugar exporter, and sugar stocks are benefiting from the increase in sugar prices in the global market.
4. Weather and Production:
Good monsoons increase sugarcane production, which has a positive impact on sugar stocks.
Sugar Stocks Screener
The Sugar Stocks Screener is a useful tool for investors to select the best sugar stocks. Screener tools like TickerTape and EquityMaster help investors filter sugar stocks based on metrics such as market capitalization, P/E ratio, dividend yield, and 5-year CAGR. Using the Sugar Stocks Screener, investors can select the right stocks according to their investment strategy.
Sugar Stocks to Buy
Investors should consider the following factors while selecting sugar stocks to buy:
1. Financial Performance:
Check the company’s revenue growth, profit margin and debt-to-equity ratio.
2. Diversification:
Companies involved in sugar, ethanol and power generation reduce risk.
3. Market Position:
Companies with a strong market position are good for long-term investment.
4. Government Policies:
Policies on ethanol and sugar exports have a direct impact on sugar stocks.
Some notable sugar stocks that can be considered for buying: Balrampur Chini, Triveni Engineering and Dhampur Sugar.
Risks in Sugar Stocks
While investing in sugar stocks is attractive, there are some risks involved:
1. Price Fluctuations:
Sugar prices are cyclical in nature, which affects the prices of sugar stocks.
2. Weather Dependence:
Sugarcane production is weather dependent, and adverse weather conditions can reduce production.
3. Government Regulation:
The sugar industry is regulated by government policies, and changes in policies can affect sugar stocks.
Why Choose Sugar Stocks?
Sugar stocks offer investors stable demand, diversification, and long-term growth opportunities. Companies in the sugar industry generate steady income from sugar, ethanol, and power production, making sugar stocks a balanced option for a portfolio. In addition, the government’s renewable energy and ethanol blending policy is positive for the future of sugar stocks.
How to Choose the Best Sugar Companies to Invest in
Careful consideration is required to choose the right sugar companies for your portfolio. Here are some tips:
1. Check financial health:
Look for companies with strong balance sheets, manageable debt, and consistent earnings growth. EID-Parry and Balrampur Chini are good examples of financially stable sugar companies.
2. Assess diversification:
Companies with a strong presence in ethanol and power generation, such as Triveni Engineering and Shree Renuka Sugar, are better able to handle market volatility.
3. Market Position:
Large players like EID-Parry and Balrampur Chini have a competitive advantage due to their scale and market share, making them safe options.
4. Sustainable Practices:
Companies that prioritize sustainability, such as Dalmia Bharat Sugar, can perform well in the long term as environmental regulations tighten.
Why are sugar companies in the news?
Sugar companies are attracting investor attention in India for several reasons:
1. Government support for ethanol:
The Indian government’s ethanol blending program has been a game-changer for sugar companies. By encouraging ethanol production for fuel blending, the government has created a new revenue stream for these companies, reducing their dependence on sugar sales.
2. Growing domestic demand:
Demand for sugar is consistent due to India’s population and sweet tooth. The food and beverage industry, which is heavily dependent on sugar, is growing steadily, which is boosting the income of sugar companies.
3. Export opportunities:
India is a major exporter of sugar, and fluctuations in global sugar prices significantly impact the profits of sugar companies. Favorable export policies in 2025 have enabled these companies to benefit from international demand.
4. Diversification in bioenergy:
Many sugar companies are using bagasse (a by-product of sugarcane) to generate electricity, which not only increases revenue but also aligns with India’s renewable energy goals.
Investment Opportunities in Sugar Stocks
For investors, sugar stocks offer a blend of stability and growth potential. Here are some reasons why you should include them in your portfolio:
1. Diversified Income Sources:
Top sugar companies don’t just produce sugar—they also generate income from ethanol and power generation. This diversification reduces risk and provides multiple growth avenues.
2. Government Support:
Ethanol blending programs and favorable export policies are likely to continue to support sugar companies, making them a safe bet in the agro-industrial sector.
3. Attractive Valuation:
Some sugar companies, particularly smaller players like Uttam Sugar and Awadh Sugar, enjoy low valuations, which offers opportunities for long-term profits.
4. Sustainability Focus:
Companies like Dalmia Bharat Sugar and EID-Parry prioritize sustainability, which resonates with global trends and could appeal to ESG-focused investors.
When investing in sugar companies, it is essential to analyze key financial metrics such as price-to-earnings (P/E) ratio, debt-to-equity ratio, and dividend yield. In addition, keeping an eye on government policies and global sugar prices can help you make informed decisions.
Conclusion
Sugar stocks are an attractive and diversified option for investors in India, offering an opportunity to capitalize on the growth in the agriculture, ethanol and energy sectors. The Indian government’s ethanol blending policy, growing demand for sugar and export opportunities make the future of sugar stocks look bright. Companies like Balrampur Chini Mills, Shree Renuka Sugar and Triveni Engineering are popular among investors due to their consistent performance.
However, investing in sugar stocks requires considering risks such as weather, government policies and price fluctuations. With proper research, use of screener tools and studying market developments, investors can reap long-term benefits from sugar stocks. Sugar stocks have the potential to provide sweet returns to your portfolio, provided you balance risk and opportunity.
Frequently Asked Questions (FAQ)
1. What is the future of sugar stocks in India?
The future of sugar stocks in India looks bright, especially due to the ethanol blending policy and increasing demand for sugar. However, weather and government policies can affect the performance of sugar stocks.
2. Why are sugar stocks falling?
The reasons for the decline in sugar stocks include: falling sugar prices, adverse weather conditions, government export restrictions and competition in the global market.
3. Why are sugar stocks rising?
The reasons for the rise in sugar stocks are the government’s ethanol policy, increasing demand for sugar, export opportunities and good weather conditions.
4. What are the best sugar stocks in India?
Balrampur Chini Mills, Shree Renuka Sugar, Triveni Engineering and Dhampur Sugar are some of the best sugar stocks in India.
5. Which sector do sugar stocks fall into?
Sugar stocks fall into the agriculture and agro-industrial sector, which is related to the production of sugar, ethanol and bio-energy.
6. When will sugar stocks rise?
It is difficult to predict the growth of sugar stocks, but a good monsoon, rising sugar prices and favorable government policies can help sugar stocks rise.
7. Why are sugar stocks rallying?
Sugar stocks are rallying because the ethanol blending policy, export opportunities and rising sugar demand are boosting the profits of companies.
8. What are sugar stocks?
Sugar stocks are shares of companies involved in sugar production, ethanol production and bagasse-based power generation.