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It has a total cane crushing capacity of 43,200 tonnes of cane per day (TCD), which makes it one of the leading sugar producers in the country. It is now a fully integrated player with 126 MW of cogeneration capacity and a distillery of 850 KLPD or kilo liters per day along with incineration boilers.         

In FY25, the company reported revenue from operations of ₹3,746 crore, reflecting a robust YoY growth of 29%. Its EBITDA stood at ₹544 crore, and PAT at ₹387 crore. The company achieved an all-time high domestic sugar sales volume of 5.9 LMT (lakh metric tonne), leading to a significant reduction in year-end sugar inventory to 3.8 LMT, down from 4.3 LMT in FY24. 

It reported an all-time high average sales realization of ₹38/kg. The grain distillery delivered 6.2 crore litres in FY25, a significant increase of 72% YoY, driven by capacity expansion. The company has reported an increase of 22% in domestic sales from 1.1 lakh MT in Q3 FY25 to 1.4 lakh MT in Q4 FY25 and a 100% jump in export sales to 0.1 lakh MT as compared to the previous quarter.

India is the world’s largest producer of sugar, with Uttar Pradesh being the leading sugarcane producer, followed by Maharashtra and Karnataka, and the third largest exporter of sugar in the world. The USDA (United States Department of Agriculture) projected the sugar production of India to touch 35 million metric tonne raw value (MMT-RV) for the year 25-26 (marketing year), which reflects a 26% increase compared to the revised 28 million-ton estimate for the current year.

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The company has been growing its AUM at a healthy rate of 18% CAGR since FY21.

It has a controlled cost of borrowings due to a diversified borrowing profile, which lets the company enjoy a net interest margin (NIM) of 12.9% in FY25. It has successfully controlled its cost-to-income ratio; the company reduced it from 38.1% in FY21 to 30.7% in FY25. Although there was a dip in profit due to increased provisioning, the company still sees good growth in its pre-provisioning profit, which grew by 10.3% YoY. The company is planning to increase its retail finance segment contribution and increase the retail portfolio to 10%-15% of the AUM by FY28.

Due to conservative provisioning and strong risk management capabilities, even in adverse situations like over-leveraged borrowers, political movements, and disruption of operations in Karnataka due to the implementation of the microfinance bill, the company stood at a reasonably good asset quality, with NNPA of 1.73%. Management gave guidance on gross loan portfolio (GLP) growth of 14-18% for FY26, with NIM expected to be stable at 12.6-12.8%.

Also read: Rally in SBI Card may have priced in improved outlook

Why it’s recommended: The stock recently gave a bullish pennant breakout on the daily chart, supported by strong momentum. RSI stands at 67 and is rising, indicating improving momentum. The MACD is on the positive side, reinforcing bullish sentiment. On lower time frames, the stock has given a rectangle breakout, adding to the short-term bullish outlook. If the stock sustains above the breakout zone, it is likely to advance toward ₹352 in the short term.

Key metrics: Resistance level: ₹352 (short-term target), Support level: ₹325 (pattern invalidation level)

Pattern: Bullish pennant breakout on the daily chart, rectangle breakout on lower time frames

RSI: 67, rising, indicating strengthening momentum

Technical analysis: The breakout above the consolidation range is supported by momentum and confirmed by MACD on the lower time frame. The stock is trading above its key moving averages, which supports trend continuation.

Risk factors: The stock has shown upward movement recently, making it susceptible to short-term volatility. A drop below ₹325 could trigger quick profit-taking. Monitor volume and price closely for follow through.

Buy at: ₹333.85

Target price: ₹352 in 4–5 days

Stop loss: ₹325

Why it’s recommended: The stock is showing strong momentum with the daily RSI at 65 and rising, indicating building strength. On the daily chart, INFY is poised to break out of a reverse head and shoulders pattern, a bullish reversal signal. Additionally, on the lower time frame, the stock has formed a falling wedge breakout on the upside, further supporting the bullish view. If the breakout sustains, the stock is likely to head toward ₹1,670– ₹1,680 in the short term.

Key metrics: Resistance level: ₹1,670– ₹1,680 (short-term target range), Support level: ₹1,610 (pattern invalidation level)

Pattern: Reverse head and shoulders breakout (daily), falling wedge breakout (lower time frame)

RSI: 65, rising, indicating strengthening momentum

Technical analysis: The breakout is supported by improving RSI and positive price action. The falling wedge breakout on lower time frames complements the larger pattern setup. Price is trading above key moving averages, reinforcing trend strength.

Risk factors: The stock has moved up steadily in recent sessions and could face short-term profit booking. A fall below ₹1,610 would invalidate the current pattern setup. Monitor closely for follow-through post-breakout.

Buy at: ₹1,631

Target price: ₹1,670– ₹1,680 in 4–5 days

Stop loss: ₹1,610

Why it’s recommended: The stock is showing strong momentum with the daily RSI above 60 and rising, indicating building strength. On the daily chart, TCS is poised to break out of an inverse head and shoulders pattern, a bullish reversal signal. Additionally, on the lower time frame, the stock has formed a falling wedge breakout on the upside, further supporting the bullish view. If the breakout sustains, the stock is likely to head toward ₹3,512– ₹3,520 in the short term.

Key metrics: Resistance level: ₹3,512– ₹3,520 (short-term target range) Support level: ₹3,448 (pattern invalidation level)

Pattern: Inverse head and shoulders breakout (daily), falling wedge breakout (lower time frame)

RSI: 60+, rising, indicating strengthening momentum

Technical analysis: The breakout is supported by improving RSI and positive price action. The falling wedge breakout on lower time frames complements the larger pattern setup. Price is trading above key moving averages, reinforcing trend strength

Risk factors: The stock has moved up steadily in recent sessions and could face short-term profit-booking. A fall below ₹3,448 would invalidate the current pattern setup. Monitor closely for follow-through post-breakout.

Buy at: ₹3,471.90

Target price: ₹3,512– ₹3,520 in 2–4 days

Stop loss: ₹3,448

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729.

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil India Pvt. Ltd; Sebi Registration No.: INH000015543

Investments in securities are subject to market risks. Read all the related documents carefully before investing.

Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

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