Search+Investment IdeasRepresentational image.SynopsisSugar is one of the oldest distressed sectors in India. For decades it has swung between glut and shortage, carried heavy debt, was dependent on politically-set cane prices, and left farmers unpaid. Many of the companies have been financially weak for years, some for most of their listed lives. Ethanol was meant to change all that, giving mills a second, steadier stream of income and changing the whole ecosystem. Has it? Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.Every big policy shift eventually reaches the point where the easy part is over. Ethanol has reached that point in India. For most of the past decade, the ethanol story was a straight line up, and a rare case of a policy that seemed to please almost everyone at once.It reduced the country's dependence on imported crude oil. It saved foreign exchange. It gave farmers a new and reliable buyer for their crops. And it handed sugar mills, which had ETMarkets.com 20 mins read, Last Updated: Jul 13, 2026, 01:53:00 PM ISTGift this Story to your friendsFONT SIZEAbcSmallAbcMediumAbcLargeSAVEPRINTCOMMENTContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories & personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions & in-depth stock reportsSubscribe NowETUh-oh! This is an exclusive story available for selected readers only.Worry not. You’re just a step away.What’s Included withETPrime Membership
Ethanol ecosystem: Judging fear by noise is not evidence; 15 stocks from the ecosystem
Sugar is one of the oldest distressed sectors in India. For decades it has swung between glut and shortage, carried heavy debt, was dependent on politically-set cane prices, and left farmers unpaid. Many of the companies have been financially weak for years, some for most of their listed lives. Ethanol was meant to change all that, giving mills a second, steadier stream of income and changing the whole ecosystem. Has it? Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
