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 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
 Market Research Report :Sugar Industry in India 2012
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Market Research Report :Sugar Industry in India 2012

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For the complete report, get in touch with us at : info@netscribes.com …

For the complete report, get in touch with us at : info@netscribes.com


The Sugar Industry in India is part of Netscribes’ Food & Beverage Series reports. The market will be boosted by the rapidly growing food and beverage industry with increasing production of confectionaries, resulting in increased demand for sugar.

The report begins with the market overview section, providing details on the domestic sugar production and consumption. India is the world’s largest sugar consuming country and is also the second largest in terms of sugar production. The growth of sugar factories along with the sugar industry segments depicts the sugar industry scenario in India. The sugarcane overview section provides a clear idea about the linkage between the sugarcane farmers and millers, including growth of sugarcane production and cane acreage. This is followed by the sugar industry value chain, illustrating the structure and operational mechanism in the sugar plants and sugar refineries, including the distillery and cogeneration process.

The regional distribution section provides a vivid description of the sugar industry in the largest sugar producing states across the country, including Maharashtra, Uttar Pradesh, Karnataka, Tamil Nadu, Andhra Pradesh, Gujarat, Haryana, Punjab and Bihar. This section provides state-wise information, such as no. of sugar factories, sugar production, average sugarcane production, sugarcane area and production.

Factors driving the growth of sugar industry in India are also explained in detail. Growing population coupled with rising income is providing impetus to the growth in the country’s sugar consumption, benefiting the overall sugar industry. India is the world’s second largest populated country, representing about 17.31% of the global population. Aggressive growth in the food and beverage industries will lead to the increasing demand for sugar. High sugar content in confectionaries, including chocolates, pastries and ice-creams, will drive the domestic demand for sugar. By-products, such as ethanol and power via cogeneration provides cross functional and cross business opportunities. Growing pharmaceutical market and low per capita sugar consumption in India provide opportunities for the players to capitalize upon. The challenges hindering the market are illustrated. Oversupply situation coupled with higher cane prices results in declining profit margin for the players in the sugar industry. Cyclical nature of the crop results in volatility in sugar production leading to high cane arrears. The present pricing policy is highly government regulated resulting in limited bargaining power of the sugar millers.

The government initiatives section provides a detailed description about the Pre-Budget Memorandum 2012-13, including removal of 10% levy sugar quota, implementation of tax incentives, Cenvat Credit on Bagasse, tax deduction under section 35 AD and exemption from both se

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  • 1. Insert Cover Image using Slide Master View Do not distortSugar Industry –Sugar Industry IndiaJune 2012
  • 2. Executive Summary  India’s sugar industry has exhibited a rapid growth and development over the past yearsMarket  Estimated production a5 mn tonnes in 20‐‐ ‐ 20‐‐, growing at a CAGR of y% from a1 mn tonnes in 20‐‐ ‐ 20‐‐  Consumption volume has grown to b3 mn tonnes in 20‐‐ ‐ 20‐‐ Drivers: Di Challenges: Challenges ‐ Growing Population and Rise in Income ‐ Oversupply Situation and Rise in Sugarcane Prices  ‐ High Demand from Food and Beverage Industry  ‐ Impact of CyclicalityDrivers &  ‐ Opportunity from by‐products  ‐ Pricing ChallengeChallenges ‐ Growing Pharmaceutical Market ‐ Untapped Market Potential  Remove the 10% levy sugar quota  Implement tax incentives Implement tax incentives  Cenvat Credit on BagasseGovernment   Tax deduction under section 35 ADInitiatives  Exemption from service tax  No VAT on sugar No VAT on sugar  Decontrol of the sugar sector Major PlayersCompetition Company 1 Company 2 Company 3 Company 4 Company 5 Company 6 SUGAR INDUSTRY IN INDIA 2012.PPT 2
  • 3. •Market Overview•Regional Distribution•Export‐Import•Drivers & Challenges e s & a e ges•Government Initiatives•Competition•Strategic Recommendations SUGAR INDUSTRY IN INDIA 2012.PPT 3
  • 4. Sugar industry in India, exhibiting rapid development with annual double digit growth through 20‐‐ ‐ ‐‐Sugar Industry – Overview (1/2) Growth of Sugar Production• India is the world’s second largest sugar producing  country, representing p% of the total sugar production,  mn tonnes y% after Brazil with q% 30 a4 a5 a3 • Sugar production is expected to grow at a CAGR of y% to  a2 20 a1 reach a5 mn tonnes in 20‐‐ ‐ ‐‐ 10• It is also the biggest sugar consumer in the world, with It is also the biggest sugar consumer in the world, with  consumption growing at CAGR of x% to amount b5 mn  0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐e 20‐‐ ‐ ‐‐e tonnes in 20‐‐ ‐ ‐‐• India’s sugar consumption is expected to surpass the  Growth of Sugar Consumption total sugar production by 20‐‐ ‐ ‐‐ t t l d ti b 20  Increasing GDP and changing lifestyle is expected to push up  mn tones the demand for sugar and processed foods 35 x% b5  However, in the long run, limited land availability for irrigation  30 is expected to hamper the country’s sugar production  i t dt h th t ’ d ti 25 b1 b4 b2 b3• Indian sugar industry has facilitated the socio‐economic  20 15 growth of the rural areas by mobilizing rural resources,  10 creating employment resulting in higher earnings along  5 with the development of the transportation  and  0 communication facilities 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐e 20‐‐ ‐ ‐‐e SUGAR INDUSTRY IN INDIA 2012.PPT 4
  • 5. Sugar industry had generated INR t bn in revenue in 20‐‐ ‐ ‐‐Sugar Industry – Overview (2/2) Growth of Sugar Factories• India is home to ~x% of the total sugar mills in the  world, contributing y% of the global sugar production Units 800 z% a3 600 a1 a2 Sugar Industry 400 200 Segment 1 Segment 2 0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ Example 1 Example 2 Sugar Industry Scenario – 2010‐11 Installed Sugar  No. of Sugar  Sugarcane  Production  Sugar Production Industry Revenue Cane Payment Mills Crushed Capacity q mn  p r mn tonnes s mn tonnes INR t bn INR u bn tonnes/year SUGAR INDUSTRY IN INDIA 2012.PPT 5
  • 6. Growing cane production will support the consistent growth in sugar output, benefiting the Indian sugar industrySugarcane – Overview Growth of Sugarcane Production• Indian sugar industry is dependent on the production of  mn tonnes sugarcane as it is the most vital raw material required  g q x% 400 a3 a4 for manufacturing sugar a2 a1 300• Most of the sugar mills are usually located near the  200 important sugarcane production bases in India, such as  100 state 1, state 2, state 3, state 4, state  5 and state 6 0• Following cotton textile industry, sugar industry ranks  20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐e second among the agro‐based industries in the country Growth of Sugarcane Acreage  Indian sugar industry supports the development of the rural Indian sugar industry supports the development of the rural  sector by engaging huge number of agricultural laborers in  ‘000 hectares sugarcane cultivation, harvesting, machine manufacturing  6,000 y% etc., representing ~z% of the rural population b3 b4 5,000 b1• Some of the primary challenges faced by the sugarcane Some of the primary challenges faced by the sugarcane  b2 4,000 farmers are shortage of land and water required for  3,000 cultivation resulting from soil and ground water  2,000 degradation without any construction of new irrigation  1,000 dams d 0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐e SUGAR INDUSTRY IN INDIA 2012.PPT 6
  • 7. Sugar – Value  Chain (1/2) COGENERATION z b c x yS a uUGAR Syrup  Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7P BoilingLANT h D I S d e f T I L i L E g R Y SUGAR INDUSTRY IN INDIA 2012.PPT 7
  • 8. Sugar – Value  Chain (2/2) Factory Raw SugarSUGAR Syrup R Step 8 Step 9 Step 10 Step 11 Step 12 Step 13 BoilingEFINERY Imported Raw Sugar SUGAR INDUSTRY IN INDIA 2012.PPT 8
  • 9. Sugar industry in Maharashtra is one of the major and large‐ scale sugar producing sector in IndiaMaharashtra – Overview Production Volume* • Maharashtra is India’s largest sugar producing state with  Avg. Sugarcane     a total sugar output of x mn tonnes as of month x 20‐‐ in  No. of  Sugar Production Production the current sugar year, up by y% y‐o‐y Factories F i ( mn tonnes)  ( ) (mn tonnes)  The recovery of sugar from cane has been z% • It had produced x1mn tonnes of sugar in the sugar  season 20‐‐ ‐ ‐‐, up from x2 mn tonnes in 20‐‐ ‐ ‐‐  However, water scarcity is likely to hit sugar production,  u v w bringing down the state output by t% in 20‐‐ ‐ ‐‐, with a cane  acreage area of d hectares Major Players Sugarcane – Area and Production Top Sugar Factories in 20‐‐ ‐ ‐‐ Production Production Area Area Sugarcane Crushed  Sugar Production  mn tonnes ‘000 hectares (mn tonnes) (mn tonnes) 100 c1 c2 c6 1,200 c5 80 c3 1,000 1 000 Company 1 a1 Company 4 c4 b1 800 60 d2 600 40 d1 d5 d6 d3 d4 400 Company 2 a2 Company 5 b2 20 200 0 0 Company 3 a3 Company 6 b3 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐eNote: Sugar Season refers to Oct‐Sep SUGAR INDUSTRY IN INDIA 2012.PPT 9
  • 10. Increasing sugarcane acreage has resulted in rising sugar production…Gujarat – Production Volume* Sugarcane – Area and Production Avg. Sugarcane     Production Production Area Area No. of  Sugar Production mn tonnes ‘000 hectares Production  Production * Factories F i ( mn tonnes)  ( ) a3 (mn tonnes) 20 a1 a2 250 a5 a6 15 a4 200 150 10 b1 b2 b3 b5 100 b4 b6 5 50 u1 v1 w1 0 0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐eHaryana– Production Volume* Sugarcane – Area and Production Avg. Sugarcane     Production Area No. of  Sugar Production Production Area Production * Factories ( mn tonnes)  mn tonnes ‘000 hectares (mn tonnes) c1 10 c2 150 8 c6 c3 c5 c4 100 6 d1 d2 4 d6 d5 50 d3 d4 u2 v2 w2 2 0 0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐e SUGAR INDUSTRY IN INDIA 2012.PPT 10
  • 11. Indian sugar industry has witnessed inconsistent trade balance over the past yearsSugar Industry – Exports (Value‐wise) Country‐wise Exports (20‐‐) INR bn x% 80 a2 14.4% Country 1 60 Country 2 a1 a4 3.8% 1.1% Country 3 40 6.2% Country 4 20 6.3% 6 3% a3 68.2% Country 5 0 Others 20‐‐ 20‐‐ 20‐‐ 20‐‐Sugar Industry – Imports (Value‐wise) g y p ( ) Country‐wise Imports (20‐‐) INR bn 60 y% 9.6% Country 1 b3 4.3% Country 2 40 b4 5.2% 3.2% Country 3 20 9.2% Country 4 b1 b2 68.5% Country 5 0 20‐‐ 20‐‐ 20‐‐ 20‐‐ Others SUGAR INDUSTRY IN INDIA 2012.PPT 11
  • 12. Drivers & Challenges – Summary Challenges Drivers Oversupply Situation and Rise in  Growing Population and Rise in  Sugarcane Prices  Income High Demand from Food and Beverage  Impact of Cyclicality Industry  Industry Pricing Challenge Opportunity from by‐products  Growing Pharmaceutical Market Untapped Market Potential SUGAR INDUSTRY IN INDIA 2012.PPT 12
  • 13. Growing population with increasing income will lead to higher sugar consumptionGrowing Population and Rise in Income Impact• Finding 1  Sub‐finding 1• Finding 2• Finding 3 Growing Population  Rise in Per Capita Income bn INR2.0 +1.2% 80,000 a5 b31.5 a3 a4 60,000 b2 a1 a2 b11.0 40,0000.5 20,0000.0 0 20-- 20-- 20--e 20--e 20--e 20-- - -- 20-- - -- 20-- - --e SUGAR INDUSTRY IN INDIA 2012.PPT 13
  • 14. …rapidly growing confectionary market leads to rise in sugar  demand, boosting the Indian sugar industry High Demand from Food and Beverage Industry (2/2) Sugar content in Popular Chocolates Sugar content in Ice‐cream Chocolate Sugar Content per 100 gm Mars a1 gm • Finding 1 Cadbury Dairy Milk a2 gm • Finding 2 Cadbury 5 Star a3 gm  Sub‐finding 2 Munch M h a4 gm 4 Gems a5 gm Confectionary Market Chocolate Market Ice‐cream MarketINR bn INR bn INR bn x% a480 30 40 z% c4 a3 y% b4 a2 c3 b3 c260 a1 b2 30 c1 20 b140 20 1020 10 0 0 0 20‐‐ 20‐‐e 20‐‐e 20‐‐e 20‐‐ 20‐‐e 20‐‐e 20‐‐e 20‐‐ 20‐‐e 20‐‐e 20‐‐e Result 1 SUGAR INDUSTRY IN INDIA 2012.PPT 14
  • 15. …future growth prospects for the Indian sugar industryOpportunity from by‐products (2/2)• Finding 1• Finding 2 Finding 2 Potential Alcohol Demand (2017) mn lts. mn lts x 6,000 x1 5,000 x2 Potable Additional alcohol for E‐10 4,000 x3 y Industrial Additional alcohol for E‐15 3,000 E ‐ 5 Additional alcohol for E‐20 x4 2,000 x5 1,000 x6 0 Alcohol Required Alcohol Availability SUGAR INDUSTRY IN INDIA 2012.PPT 15
  • 16. Growing pharmaceutical market and low per capita sugar consumption provides growth opportunityGrowing Pharmaceutical Market Impact• Finding 1 Pharmaceutical Market Turnover  Sub‐finding 1• Finding 2 INR bn x%  Sub‐finding 2 1,500 a3 a2 a1 1,000 500 0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ eUntapped Market Potential Impact• Finding 3   Sub‐finding 3 Annual Per Capita Sugar Consumption Kg/year x Opportunity for the players  60 40 to capitalize upon y 20 0 Country 1 Country 2 SUGAR INDUSTRY IN INDIA 2012.PPT 16
  • 17. Oversupply situation coupled with higher cane prices will result in declining profit marginOversupply Situation and Rise in Sugarcane Prices  Impact• Finding 1  Sub‐finding 1  Sub‐finding 1’High inventory costs Oversupply Decline in sugar prices• Finding 2   Sub‐finding 2 Rise in Minimum State Advised Cane Price State 1 State 3 State 5• Finding 3 Finding 3 INR/Qt. INR/Qt State 2 State 2 State 4 State 4  Sub‐finding 3 1,500 1,000 x2 x1 y2 y1 500 z1 z2 u1 u2 Result 1 v2 v1 0 20‐‐ ‐ ‐‐ 20‐‐ ‐ ‐‐ SUGAR INDUSTRY IN INDIA 2012.PPT 17
  • 18. Cyclicality is one of the primary reason for the volatility in sugar productionImpact of Cyclicality Impact• Finding 1   Sub‐finding 1• Finding 2 Natural cyclicality Induced cyclicality d a e i b f 2‐3 years 4‐5 years 4 c j g h k Result 2  SUGAR INDUSTRY IN INDIA 2012.PPT 18
  • 19. Pre‐Budget Memorandum 2012‐13 (1/3) Sugar Sector’s Budget 2012‐13 wish‐list • Finding 1 Remove the  • Finding 2 10% levy sugar  quota • Finding 3 • Finding 4 • Finding 1 Implement tax  • Finding 2 incentives i i • Finding 3 • Finding 4 SUGAR INDUSTRY IN INDIA 2012.PPT 19
  • 20. Major Public Companies ‐ SummaryNet Profit/Loss2,000 Size of the Bubble represents Market  m2 Capitalization in INR mn1,0001 000 m3 m9 m1 0 m5 m4 m6 m10 m7 7‐1,000‐2,000‐3,000 m8‐4,000 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Total income Company 1 Company 3 Company 5 Company 7 Company 9 Company 2 Company 4 Company 6 Company 8 Company 10 SUGAR INDUSTRY IN INDIA 2012.PPT 20
  • 21. Public: Domestic Company – Company 1 (1/3)Company Information Offices and Centres – India Corporate Address Address  400 0‐‐ IndiaTel No. 91‐xx‐yyyyyyyyFax No. 91‐xx‐yyyyyyyy NoidaWebsite www.xxx.com LucknowYear of Incorporation 19‐‐Ticker Symbol 5000‐‐ MumbaiStock Exchange Bombay Stock Exchange (BSE) Head Office Other OfficesProducts and ServicesProducts and ServicesProductsProduct 1, product 2, product 3, product 4, product 5,  Key Peopleproduct 6, product 7, product 8, product 9, product 10,  Name N Designation D i tiproduct 11 and product 12 Person 1 Executive Chairman Person 2 Vice Chairman Person 3 President Person 4 Chief Finance Officer SUGAR INDUSTRY IN INDIA 2012.PPT 21
  • 22. Public: Domestic Company – Company 1 (2/3) Financial Snapshot i i lS h Key Ratios K i y‐o‐y change  Total Income Net Profit/Loss Particulars  2011 2010 2009 2008 INR mn INR mn (2011‐10)60000 x2 1,000 Profitability Ratios x3 x4 Operating Margin ‐ ‐ ‐ ‐ ‐40000 0 Net Margin ‐ ‐ ‐ ‐ ‐ x1 Profit Before Tax Margin ‐ ‐ ‐ ‐ ‐ y420000 y3 -1,000 Return on Equity ‐ ‐ ‐ ‐ ‐ y1 y2 Return on Capital Employed ‐ ‐ ‐ ‐ ‐ 0 -2,000 Return on Working Capital ‐ ‐ ‐ ‐ ‐ 20-- 20-- 20-- 20-- Return on Assets ‐ ‐ ‐ ‐ ‐ Financial Summary  Return on Fixed Assets ‐ ‐ ‐ ‐ ‐ Cost Ratios • The company incurred a net profit of INRx4 mn in FY 20‐‐, as  Operating costs (% of Sales) ‐ ‐ ‐ ‐ ‐ compared to net profit of INR x3 mn in FY 20‐‐ Administration costs (% of  ‐ ‐ ‐ ‐ ‐ • The company reported total income of INR y4 mn in FY 20‐‐ Sales) registering an increase of z% over FY 20‐‐ registering an increase of % over FY 20 Interest costs (% of Sales) Interest costs (% of Sales) ‐ ‐ ‐ ‐ ‐ Liquidity Ratios • The company earned an operating margin of y% in FY 20‐‐, an  Current Ratio ‐ ‐ ‐ ‐ ‐ increase of z1 percentage points over FY 20‐‐ Cash Ratio ‐ ‐ ‐ ‐ ‐ • The company reported debt to equity ratio of u in FY 2011, a  Leverage Ratios ‐ ‐ ‐ ‐ ‐ decrease of v1% over FY 2010 Debt to Equity Ratio ‐ ‐ ‐ ‐ ‐ Debt to Capital Ratio b i l i ‐ ‐ ‐ ‐ ‐ Key Financial Performance Indicators Interest Coverage Ratio ‐ ‐ ‐ ‐ ‐ Indicators Value (22/05/2012) Efficiency Ratios Market Capitalization (INR mn) a Fixed Asset Turnover ‐ ‐ ‐ ‐ ‐ Total Enterprise Value (INR mn) Asset Turnover ‐ ‐ ‐ ‐ ‐ b Current Asset Turnover ‐ ‐ ‐ ‐ ‐ EPS (INR) EPS (INR) c Working Capital Turnover ‐ ‐ ‐ ‐ ‐ PE Ratio (Abs) (30/05/2012) d Capital Employed Turnover ‐ ‐ ‐ ‐ ‐ Improved Decline SUGAR INDUSTRY IN INDIA 2012.PPT 22
  • 23. Public: Domestic Company – Company 2 (3/3)Key Business Segments Key Geographic Segments Others Segment 2 Segment 4 Country 1 Segment 1 Segment 3 100% 1% Country 1 is the only 100% 14% 5% 6% 4% 4% 5% 5% 4% 6% 4% 3% geographic segment in which  50% 100% the company has been  50% 87% 80% 86% 86% operating for the last five years 0% 0% 20‐‐ 20‐‐ 20‐‐ 20‐‐ 20‐‐Business HighlightsDescription  News • Company 1 is a flagship of the famous Group 1, engaging primarily in the production of Overview sugar and ethanol • Company 1 owns x sugar plants in different parts of state 1 with an aggregate crushing Company 1 owns x sugar plants in different parts of state 1 with an aggregate crushing Crushing Capacity capacity of z TCD and a distillery capacity to produce y l of alcohol daily • Company 1 is setting up t new coal based power plants of p MW each in state 1 with a  total investment of INR f bnExpansion PlansExpansion Plans • It is also building u mega thermal power projects in state 1 with a power producing  capacity of g MW within a period of h years SUGAR INDUSTRY IN INDIA 2012.PPT 23
  • 24. Thank you for the attentionThe Sugar Industry – India report is part of Research on India’s Food & Beverage Series.For more detailed information or customized research requirements please contact:Phone: +91 33 4064 6214 91 33 4064 6214E‐Mail: sales@netscribes.comFollow us on:About NetscribesNetscribes is a knowledge‐consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment &  g g f g p y p p fbusiness research, business & corporate intelligence, content‐management services, and knowledge‐software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes is a one‐stop shop designed to fulfil clients’ profitability and growth objectives.Disclaimer: This report is published for general information only. Although high standards have been used in the preparation,  Netscribes isDisclaimer: This report is published for general information only Although high standards have been used in the preparation “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes and prior permission is required for guidelines on reproduction. SUGAR INDUSTRY IN INDIA 2012.PPT 24

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