Ethanol, a key biofuel, is primarily produced through the fermentation of sugars by yeast or through petrochemical processes like ethylene hydration. Beyond serving as an alternative fuel, it is extensively used in industries as a solvent and in the creation of organic compounds. Ethanol also plays an important role in medicine as an antiseptic and disinfectant. In India, significant progress is being made in securing a sustainable energy future by integrating practices like ethanol blending. In this blog, let us look at the best ethanol stocks for February 2025:

Ethanol Industry in India: An Overview

As India’s energy demand continues to rise due to factors like economic growth, population increase, urbanization, and changing lifestyles, ethanol plays a vital role in addressing this need. By March 2024, fossil fuels accounted for nearly 98% of the fuel used in the road transportation sector, while biofuels like ethanol made up only 2%. This heavy reliance on fossil fuels poses challenges for energy security, foreign currency outflow, and environmental sustainability.

As of April 2024, India’s industrial ethanol production capacity reached 13.80 billion litres, with 8.75 billion litres coming from molasses and 5.05 billion litres from grain-based feedstocks. The Indian government has made significant progress, achieving a 12% ethanol blending rate in FY 2024 to meet its target of 20% by 2025.

Best Ethanol Stocks in Feb 2025 Based on 5-Year CAGR

Note: The above ethanol stocks have been selected and sorted based on 5Y-CAGR and market capitalisation of a minimum ₹3,000 Crore as of January 24, 2024.

Overview of Best Ethanol Stocks

Piccadily Agro Industries Ltd

Piccadilly Agro Industries Ltd (PAIL) is engaged in the manufacturing of sugar and distillery products at its facility in Haryana. As of November 2024, the company boasts an ethanol production capacity of 78 KLPD. During Q2FY25, it raised capital aggregating ₹262 Crore through preferential allotment, which is being utilised for ongoing expansions

Key Metrics

• ROE: 30.6%
• ROCE: 29.6%

Triveni Engineering and Industries Limited

As a prominent player in the Indian market, Triveni Engineering and Industries Ltd excels in sugar and ethanol production. In Q2 FY25 and H1 FY25, ethanol represented 93% and 92% of total alcohol sales, compared to 94% and 93% in the corresponding periods of the previous year. During Q2FY25, the sales volume of low-margin ethanol produced from maize operations increased substantially.

Key Metrics

• ROE: 14.2%
• ROCE: 14.8%

Shree Renuka Sugars

Shree Renuka Sugars Ltd is a producer of refined sugar, ethanol, and ethyl alcohol, with a focus on electricity generation and distribution. The recent easing of the ban on ethanol production from CJ and BH molasses presents positive outlooks for the upcoming season.

Key Metrics

• ROE: –
• ROCE: 10.2%

EID Parry (India) Ltd

EID Parry operates in the sectors of sugar, nutraceuticals, and ethanol production. In Q2 FY25, EID Parry sold approximately 419 lakh litres, compared to 304 lakh litres in the previous year, with ENA sales at 159 lakh litres and ethanol sales reaching around 260 lakh litres.

Key Metrics

• ROE: 13.5%
• ROCE: 20.3%

Best Ethanol Stocks in Feb 2025 Based on Net Margin

Best Ethanol Stocks in Feb 2025 Based on Debt to Equity Ratio

Factors to Consider Before Investing in Ethanol Sector Stocks in India

Investing in the ethanol sector in India can be promising, but it comes with specific risks and considerations. Here are some key factors to consider before making investment decisions in ethanol sector stocks.

• Blending Targets and Demand Growth: The Indian government has set an ambitious ethanol blending target, which significantly impacts the demand for ethanol in the transport sector. A rising demand for ethanol as an alternative fuel due to these targets can drive growth in the sector
• Raw Material Availability: Ethanol production in India is primarily based on crops like sugarcane, corn, and maize. The availability and cost of these raw materials can fluctuate due to weather conditions, agricultural yields, and global commodity prices. Investors should monitor agricultural trends closely.
• Competition and Market Dynamics: The ethanol market is competitive, with several players involved in both production and blending. Understanding the competitive landscape and evaluating the market share of potential companies is important for identifying strong investment candidates.
• Domestic Ethanol Demand: Analysing domestic ethanol demand and the potential for exports is vital, as these factors significantly influence the industry’s growth trajectory.

Should You Invest in Ethanol Stocks?

Investing in ethanol stocks demands careful analysis due to several potential risks, including fluctuations in commodity prices, changes in regulations, and competition from other energy alternatives. Although the sector shows strong growth potential, stock performance can be impacted by factors such as policy adjustments, market dynamics, and advancements in technology.

Conclusion

Ethanol, known for its versatility as a key fuel, has considerable potential to make a positive impact. Widespread adoption of ethanol could lead to substantial savings on oil imports and help safeguard the environment. Before investing in leading ethanol stocks in India, it is essential to consider the various factors that impact the market.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 24, 2025, Amber Enterprises shares rose ~4% and touched the day high of ₹7,249.95 at 11:15 AM after opening at ₹7,100.10. The gain in Amber Enterprises shares came after the release of its unaudited financial results for the quarter (Q3FY25) and nine months (9MFY25) ended December 31, 2024.

Amber Enterprises Q3 FY25 Performance

Amber Enterprises reported strong financial performance for Q3FY25, with consolidated revenue of ₹2,133 crore, reflecting a 65% year-on-year growth. Operating EBITDA surged to ₹162 crore, marking a 97% YoY increase. Profit After Tax (PAT) for the quarter stood at ₹37 crore, a significant turnaround from a loss of ₹1 crore in the same period last year.

Amber Enterprises 9M FY25 Performance

For the nine months ended December 31, 2024, the consolidated revenue reached ₹6,219 crore, a 59% increase compared to the same period last year. Operating EBITDA grew to ₹482 crore, up 69% YoY. PAT stood at ₹133 crore, reflecting a remarkable 228% growth over the corresponding period in the previous year.

Amber’s business diversification strategy is gaining momentum, with the Consumer Durable and Electronic Divisions posting strong quarterly revenue growth of 67% and 96%, respectively, compared to the previous year.

Commenting on the results and performance for Q3 & 9MFY25, Mr Jasbir Singh, Executive Chairman & CEO and Whole-time Director of Amber Enterprises India Ltd. said: “We are pleased to report the robust financial performance for Q3FY25. The Consumer Durable division reported strong growth of 67% YoY, led by the underlying RAC industry channel inventory filling in anticipation of a positive summer season, and aided by deepening of the customer relationships.

The Electronic division continues to be on transformative growth momentum with revenue growth of 96% YoY in Q3FY25. The growth levers are in place for further rapid scale-up with the addition of business applications on the PCB Assembly front, and on the Bare board front, the Ascent facility expansion coupled with JV with Korea Circuit for HDI, Flex and Semiconductor substrates PCB will pave the way for growth.”

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

During 2024, the Indian aviation industry recorded growth in passenger traffic carried by domestic airlines in India, which reached 1,613.31 lakhs as compared to 1,520.32 lakhs in the same period of the previous year, reflecting an annual growth of 6.12% and a monthly growth of 8.19%.

Indigo Maintained Market Dominance

IndiGo maintained its dominance in the Indian aviation sector, capturing a 64.4% market share in December 2024, up from 63.6% in November. This further strengthens IndiGo’s position as the leader in domestic air travel. For the full calendar year (CY) 2024, IndiGo continued to dominate the market with a share of 61.9%. On January 24, 2025, Indigo shares opened at ₹4,145.35 and touched the day high of ₹4,272.00 at 10:05 AM, reflecting a gain of 1.79% against the previous close.

SpiceJet Recorded Slight Growth

SpiceJet also made a modest gain, with its market share increasing to 3.3% in December, up from 3.1% in November. This slight but positive shift suggests potential stabilization for the airline. , SpiceJet held a market share of 3.7% for the CY2024. On January 24, 2025, SpiceJet shares opened at ₹49.03 and touched the day high of ₹49.48 at 10:05 AM, reflecting a gain of 0.45% against the previous close.

Akasa Air Posted Dip in Market Share

The data highlights strong performance across major Indian carriers, with most airlines experiencing growth in market share. Air India saw a significant increase, rising to 26.4% in December from 24.4% in November.

Akasa Air was the only major carrier to experience a minor dip, with its market share decreasing slightly from 4.7% in November to 4.6% in December.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 24, 025, V2 Retail shares hit an upper circuit of 5% at ₹1,839.75 at 09:40 AM on BSE. The gain in V2 Retail shares follows the release of results for the quarter and nine months ended December 31, 2024. V2 Retail operates 160 stores across 18 states and over 130 cities recorded significant growth across business metrics during the reported period

V2 Retail Q3 FY25 Performance

During Q3FY25, V2 Retail recorded revenue from operations of ₹590.9 crores, marking a YoY growth of 58%. The company’s gross margin stood at 32.1%, up from 31.4% in Q3 FY24. EBITDA for the quarter was ₹111.5 crores, compared to ₹60.9 crores in the same period last year, reflecting an impressive 83% growth on a YoY basis. The EBITDA margin also improved to 18.9% in Q3 FY25, from 16.3% in Q3 FY24. The company achieved a record profit after tax (PAT) of ₹51.2 crores in Q3 FY25, compared to ₹23.6 crores in Q3 FY24, a remarkable 117% increase.

V2 Retail 9M FY25 Highlights 

During 9MFY25, V2 Retail achieved revenue from operations of ₹1,386 crores, a 60% growth on a YoY basis. The gross margin for the period stood at 29.8%, slightly down from 30.3% in 9M FY24. EBITDA for the nine months was ₹200 crores, up from ₹116.4 crores in the same period last year, reflecting a growth of 72%. The EBITDA margin improved to 14.4% in 9M FY25, compared to 13.4% in 9M FY24. The company also reported a record PAT of ₹65.6 crores for 9M FY25, compared to ₹24 crores in the previous year, a growth of 172%.

V2 Retail Key Business Updates

As of December 31, 2024, V2 Retail operated 160 stores, covering a retail area of approximately 17.22 lakh square feet. In the first nine months of FY25, the company opened 45 new stores and closed 2. The company also recorded an industry-leading same-store sales growth (SSSG) of 31% during 9M FY25, despite a higher base and subdued consumer sentiment. Furthermore, the company experienced robust volume growth of 43% during the period, with MRP sales contributing 91% to total sales in 9M FY25, up from 85% in 9M FY24.

Commenting on the results and performance, Mr. Ram Chandra Agarwal, Chairman & Managing Director said: “We’re thrilled to report a stellar overall performance for the first nine months of the financial year. The Company has been able to deliver industry-leading performance despite a higher base and overall subdued consumer sentiment. We believe, the outperformance is a testament to the success of our strategic initiatives, which have driven excellence in innovative product development; enhanced store experiences; and exceptional customer satisfaction. At V2 Retail, the strategic initiatives undertaken so far and those under implementation have the potential to further improve our overall performance positively. “

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 24, 2025, IEX share price rose ~2%, reaching a day high of ₹172.60 at 09:20 AM after opening at ₹172.60. The gain in IEX share price follows the release of its financial results for the quarter ended December 31, 2024. IEX, or Indian Energy Exchange Limited, reported strong growth across key business metrics.

IEX Q3FY25 Performance

The company also a 31% increase in renewable energy certificates, which reached 26.52 lakh in Q3FY25, up from 20.24 lakh in the same quarter last year. Consolidated revenue grew by 13.7%, reaching ₹160.5 crore, while standalone profit after tax (PAT) rose by 15.5%, totalling ₹103.1 crore. Consolidated PAT for the quarter increased by 16.9%, reaching ₹107.3 crore. Over the first nine months of FY25, consolidated PAT surged by 22.8%, reaching ₹312.1 crore, compared to ₹254.1 crore during the same period in FY24.

During Q3FY25, IEX achieved a significant 15.9% YoY increase in electricity traded volume, reaching 30.5 BUs. The exchange also traded 26.52 lakh Renewable Energy Certificates (RECs), marking a 31% YoY increase. In addition, the Central Electricity Regulatory Commission (CERC) issued draft procedures for the trading of Carbon Credit Certificates for both obligated and non-obligated entities through power exchanges, which is expected to lead to the inclusion of Carbon Credit Certificate trading on IEX in the near future.

IEX Business Updates

Electricity Demand and Fuel Availability

In Q3FY25, India’s electricity demand reached 393 BUs, marking a 3% increase year-on-year (YoY). For 9M FY25, the country’s total electricity demand stood at 1,279 BUs, reflecting a 5% growth compared to the same period in FY24. On the fuel front, coal availability has remained ample throughout the fiscal year. Coal is being sold at a nominal premium of 10% to 20% under the Shakti B8 auction, and current coal inventory levels are sufficient to cover approximately 19 days of demand.

Liquidity and Pricing in the Power Market

The adequate availability of fuel in Q3FY25 contributed to higher liquidity on the exchange platform. The sell quantum in the day-ahead market increased by 62% YoY, resulting in a softening of prices. The average price in the Day Ahead Market for Q3FY25 was ₹3.71 per unit, a decrease of nearly 26% compared to the same period last year. This price reduction provided an opportunity for Distribution Companies (Discoms) and Commercial & Industrial consumers to meet their demand at more competitive rates, allowing them to replace higher-cost power with cheaper alternatives from the exchange.

Gas Market Performance

In the gas market, the Indian Gas Exchange (IGX) recorded a substantial 93% YoY growth in traded volume, reaching 162 lakh MMBtu for Q3FY25, compared to 84 lakh MMBtu in Q3FY24. The profit after tax (PAT) for IGX in Q3FY25 was ₹8.3 crore, a 13% YoY increase from ₹7.4 crore in Q3FY24. For the nine months ending December FY25, IGX’s PAT was ₹22 crore, marking an 18% increase over the same period in the previous fiscal year.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 24, 2025, Adani Green shares rose over 4% and touched the day high of ₹1,065.45 at 09:20 AM after opening at ₹1,039.45. The gain in Adani Green shares follows the release of financial results for Q3 FY25 and the nine-month (9MFY25). During this period, Adani Green continues to demonstrate its operational excellence and remarkable growth trajectory, driven by significant capacity additions and robust performance across its renewable energy assets.

Adani Green Q3FY25 Financial Highlights 

For Q3FY25, AGEL achieved substantial growth across key financial metrics:

• Energy Sales: A notable 23% year-on-year (YoY) increase, reaching 20,108 million units.
• Revenue: Up by 18% YoY, amounting to ₹6,829 crore.
• EBITDA Margin: AGEL achieved an industry-leading EBITDA margin of 92.0%.
• Cash Profit: Increased by 23% YoY to ₹3,630 crores.

These results are mainly backed by the consistent growth of its greenfield capacity additions, totalling 3.1 GW, and its commitment to delivering reliable and sustainable energy.

Capacity Addition & Operational Performance:

During Q3 FY25 and 9MFY25, AGEL made impressive strides in its capacity expansion and operational performance, marking a significant leap toward its long-term renewable energy goals.

• Operational Capacity: AGEL expanded its total operational capacity by 37% YoY, reaching 11,609 MW by the end of 9M FY25. This expansion was driven by key greenfield projects, including:
  • 2,113 MW of solar capacity and 312 MW of wind capacity in Khavda, Gujarat.
  • 580 MW of solar capacity in Rajasthan.
  • 126 MW of wind capacity in Gujarat.
• Energy Sales: The company’s energy sales surged by 23% YoY, propelled by the addition of new capacity and the consistent performance of its operational plants. This increase reflects AGEL’s successful execution of its capacity ramp-up strategy.

Adani Green Energy Outlook

Adani Green’s future growth is anchored in its commitment to scaling up its renewable energy capacity, and it remains on track to achieve significant milestones in the upcoming years.

• Khavda Project – The World’s Largest Renewable Energy Plant: AGEL is developing the world’s largest renewable energy plant at Khavda, Gujarat, with a total planned capacity of 30 GW. The project spans 538 sq km—almost 5 times the size of Paris—and is expected to set a global benchmark for large-scale renewable energy development.
• Rapid Execution and Workforce Expansion: The company has a dedicated workforce of over 12,000 on-site at Khavda, working tirelessly to meet ambitious timelines. Four phases of transmission tendering have already been completed, with the 5th phase currently underway, ensuring smooth execution and alignment with capacity development goals.
• Achieving 30 GW by 2029: With the Khavda project well underway, AGEL is confident in its ability to achieve 30 GW of renewable energy capacity at the site by 2029, setting a global standard for the speed and scale of renewable energy plant execution.

Conclusion

AGEL’s strong performance in Q3 FY25 and 9M FY25 underscores its leadership in the renewable energy sector, driven by strategic investments, operational excellence, and a relentless focus on capacity growth.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 24, 2025, Oberoi Realty shares to trade ex-date, meaning that the shareholders registered in the company’s books will be eligible for the ₹2 interim dividend. On January 20, 2025, the company declared an interim dividend of ₹2 for the FY25.

Oberoi Realty Dividend History

Oberoi Realty Management Take on Q3FY25 Result

Commenting on the Q3FY25 results, Mr Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, “Indian economy has continued to grow across sectors, with the luxury real estate market being one of the key beneficiaries. At Oberoi Realty, we are delighted to announce another healthy quarter, driven by the tremendous response to our first phase launch at Oberoi Garden City, Thane. The demand for premium and bespoke residences continues to be robust, and our luxury homes are setting new benchmarks in design and quality. With a strong portfolio of upcoming projects, and strategic land acquisitions, we stand well-positioned to meet the rising demand and foster long-term profitable growth.”.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 24, 2025, DCM Shriram shares to trade ex-date, meaning that the shareholders registered in the company’s books will be eligible for the ₹3.60 interim dividend. On January 18, 2025, the company declared its 2nd interim dividend of ₹3.60 for the FY25.

DCM Shriram Dividend History

DCM Shriram Q3FY25 Business Segment Performance

The Company’s Chloro-Vinyl business operates with highly integrated processes, generating multiple revenue streams. It benefits from 344 MW of captive power generation across both locations, along with 44 MW (peak) of renewable power capacity at Bharuch. Additionally, 6.6 MW of renewable capacity is being added at the Bharuch site.

In Q3 FY25, the Chemical business saw a 35% YoY increase in revenues (24% increase for 9M FY25 compared to the previous year). Caustic volumes rose by 21% for Q3 (18% increase for 9M FY25, 9% QoQ growth), driven by additional capacity. ECU prices for Q3 grew by 12% YoY (3% increase for 9M FY25, 13% QoQ rise).

The Vinyl business achieved a 95% capacity utilisation in Q3 FY25, compared to 60% in the same period last year (90% for 9M FY25 vs. 80% in the previous year), primarily due to last year’s maintenance shutdown. Revenue for Q3 FY25 increased by 26% YoY (7% growth for 9M FY25).

The Sugar & Ethanol business reported flat revenues of Rs 890 crore for Q3 FY25 (1% growth for 9M FY25). Domestic sugar prices declined to Rs 3,836 per quintal in Q3 (Rs 3,954 in the same period last year), with a 6% decrease in domestic sugar volumes for Q3 due to reduced releases (9M FY25 volumes were stable at 46.2 lakh quintals). Ethanol prices rose by 12% in Q3 FY25, driven by grain (maize)-based operations (9M FY25 saw a 9% increase compared to the previous year).

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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

On January 23, 2025, the Indian benchmark indices closed higher, whereby Nifty 50 rose 0.22% to 23,205.35 while Sensex grew 0.15% to 76,520.38. Nifty Consumer Durables and Nifty IT rose 1.97% and 1.79%, respectively.

Top Gainers of the Day

Ultratech Cement

Ultratech shares opened at ₹10,690, reached a high of ₹11,571.45, and closed at ₹11,406.95, reflecting a 6.67% gain on the day.

Grasim

Grasim shares started trading at ₹2,388, peaked at ₹2,475.75, and ended at ₹2,458.95, marking a 2.96% rise.

Wipro

Wipro shares opened at ₹311.10, hit a high of ₹324.60, and closed at ₹317.70, showing a 2.78% increase.

Shriram Finance

Shriram Finance shares opened at ₹518.65, reached ₹533.45, and closed at ₹531.00, a gain of 2.38%.

Sun Pharma

Sun Pharma shares opened at ₹1,788.10, touched a high of ₹1,839.75, and closed at ₹1,839.00, up by 2.23%.

Top Losers of the Day

BPCL

BPCL shares opened at ₹283, hit a low of ₹270.30, and closed at ₹271.65, showing a decline of 2.14%.

Kotak Mahindra Bank

Kotak Mahindra Bank shares started at ₹1,907.10, dropped to ₹1,892.10, and ended at ₹1,893.00, down by 1.28%.

HCLTech

HCLTech shares opened at ₹1,817.05, fell to ₹1,804.20, and closed at ₹1,806.95, marking a 1.14% drop.

Reliance Industries

Reliance shares opened at ₹1,270, reached a low of ₹1,261.60, and closed at ₹1,264.90, down 0.96%.

SBI

SBI shares opened at ₹750, touched ₹743.10 as the low, and ended at ₹746.25, reflecting a 0.96% decline.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

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