Fueled by the shift to renewable energy, India’s ethanol market is growing rapidly. Learn more about the largest ethanol companies in the country by market cap as of October 2024.
Ethanol, produced from sugarcane and maize, is a key renewable fuel additive. It’s used in transportation fuels and alcohol production, boosting green energy initiatives.
India’s ethanol market is projected to grow from $7 billion in 2023 to $17.5 billion in 2028. Let’s take a look at the biggest players in this industry.
Market cap: ₹14,761 Cr. Chennai-based EID-Parry established India’s first sugar plant and is engaged in the manufacture and marketing of sugar and bio-products.
Market cap: ₹10,410 Cr. Founded in 1975, Kolkata-based Balrampur Chini Mills is the second largest sugar manufacturing company in India.
Market cap: ₹8,356 Cr. Parent of the ‘Madhu’ sugar, one of the country’s most recognizable sugar brands, Shree Renuka Sugars is also one of the earliest pioneers to harness sugar as a source of green energy.
Market cap: ₹8,125 Cr. Producer of white crystal sugar, Triveni Engineering has as many as seven manufacturing plants in Uttar Pradesh.
Market cap: ₹3,942 Cr. The sugar and ethanol producing arm of the Bajaj Group, Bajaj Hindusthan Sugar was established in 1931 by the late Shri Jamnalal Bajaj.
Here is a quick recap of the largest ethanol producing companies by market cap: Company Market Cap (2024) EID-Parry (India) ₹14,761 Cr. Balrampur Chini Mills ₹10,410 Cr. Shree Renuka Sugars ₹8,356 Cr. Triveni Engineering ₹8,125 Cr. Bajaj Hindusthan Sugar ₹3,942 Cr. Data as of October 2024