Financial Impact Pe Focus
Dekho bhai, EID Parry ka board toh pakka ho gaya hai ki PSRIPL ko band karna hi hai. Iske liye ₹740 Crore ka ek special package approve kiya gaya hai. Is fund mein ₹610 Crore equity ke form mein aur ₹130 Crore loan ke taur par diye jayenge. PSRIPL par March 31, 2026 tak lagbhag ₹998 Crore ki liabilities khadi hain, jismein ₹877 Crore bank loans hain. In sab loans ki primary guarantee EID Parry ne hi li hui hai. Company ko umeed hai ki asset sales se ₹137 Crore recover ho jayenge, par baki ₹740 Crore ka jugad EID Parry ko hi karna padega. Seedha samjho toh yeh paisa company ke balance sheet par asar dalega. Yeh decision un profitable units mein aur paisa lagane se better hai.
Export Model Ka Failed Experiment
Asal mein, yeh PSRIPL unit 2006 mein shuru hui thi. Plan ye tha ki raw sugar import karo, use refine karke export kar do, aur global prices se fayda kamao. Lekin hua kya? Sabse bada panga ye hua ki natural gas milna band ho gaya, jiski wajah se costly coal boilers use karne pade. Aur upar se white sugar ke premiums bhi gira diye. Factory mein accidents, high demurrage charges, inventory losses aur expensive financing ne bhi cheezon ko aur kharab kar diya. Jabki is subsidiary ne FY2024-25 mein ₹4,262.45 Crore ki revenue generate ki thi (jo EID Parry ki total revenue ka 13.48% tha), par company ka net worth negative mein chal raha tha aur losses badhte ja rahe the. Isliye ab chalana mushkil ho gaya tha.
Industry Mein Bhi Tension
Yeh sab aise time pe ho raha hai jab poori sugar industry khud hi problems se guzar rahi hai. Global sugar prices thoda sudhre hain par pichle saal ke muqable kam hain. India ne is season mein sugar export allow kiya hai taki domestic surplus manage ho sake, par global prices ka bharosa nahi. High oil prices ki wajah se zyada sugarcane ethanol banane mein use ho raha hai, jis se future mein sugar supply aur prices pe asar pad sakta hai. PSRIPL ne Kakinada mein sasta natural gas milne ki jo umeed laga rakhi thi, woh galat sabit hui.
Analysts Kya Kehte Hain?
Haan, EID Parry ko ₹740 Crore ka yeh hit lagega, par company ab losses ko control karne ke mood mein hai. Analyst toh abhi bhi EID Parry ko lekar optimistic hain. Zyadatar analysts 'Strong Buy' rating de rahe hain aur unka target price 70% tak upside dikha raha hai, jo ₹1,382 tak ja sakta hai. Analysts ko lagta hai ki refinery band hone ke baad EID Parry ab apne profitable businesses jaise nutraceuticals aur farm inputs pe zyada focus kar payegi. Ye move company ki future financial health ke liye acha ho sakta hai.