Best Ethanol Stocks in May 2025 Based on 5Y CAGR: Piccadily Agro, Triveni Engineering & More

India’s sugar and ethanol industries are vital to the rural economy, supporting millions of farmers and generating employment in allied sectors. As the second-largest sugar producer globally and a key ethanol manufacturer, India’s transition to ethanol-blended fuel has created fresh investment opportunities in this sector.

Let’s take a look at the top ethanol-related stocks for May 2025, focusing on 5-year CAGR, net profit margins, ROCE, and debt-to-equity ratios.

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

Note: The list of best ethanol stocks above is sorted based on 5-year CAGR and reflects data as of May 8, 2025.

Overview of the Best Ethanol Stocks in May 2025

1. PiccadilyAgro Industries Ltd (PAIL)

Piccadily Agro Industries Ltd (PAIL) operates in the production and sale of malt spirits in India, while also producing ethanol, Extra Neutral Alcohol (ENA), and white crystal sugar.

In the third quarter of FY24-25, the company posted a standalone Profit After Tax (PAT) of ₹25.04 crore, marking a 32.14% year-on-year increase. Its EBITDA also saw strong growth, rising 46.07% to ₹50.86 crore compared to the same quarter in the previous fiscal year.

Key metrics:

• Return on Capital Employed (ROCE): 37.4%

• Return on Equity (ROE): 38.43%

2. Triveni Engineering and Industries Ltd

Triveni Engineering and Industries Ltd, a prominent integrated sugar manufacturer in India, recorded a total income of ₹1,624.20 crore for the quarter ending December 31, 2024.

The company registered a profit of ₹42.57 crore during the period, recovering from a loss of ₹22.42 crore in the prior quarter. However, this marked a sharp drop from the ₹137.40 crore profit reported in the same quarter a year earlier.

Key metrics:

• ROCE: 17.59%

• ROE: 14.2%

3. Dalmia Bharat Sugar & Industries

Dalmia Bharat Sugar & Industries, among India’s youngest yet largest sugar producers, has been witnessing swift expansion with operations across Uttar Pradesh and Maharashtra.

In the quarter ending December 2024, the company reported a revenue of ₹840.11 crore, down from ₹923.33 crore in the September 2024 quarter. Its net profit for the period was ₹70.33 crore, showing a marginal dip from ₹73.71 crore in the preceding quarter.

Key metrics:

• ROCE: 11.61%
• ROE: 9.67%

4. Balrampur Chini Mills Ltd

Balrampur Chini Mills Ltd (BCML), a prominent integrated sugar producer in India, posted operating revenue of ₹1,192.15 crore for the quarter ending December 2024.

This reflects a 3.1% drop from ₹1,230.39 crore recorded in the same quarter the previous year. Despite the dip in revenue, EBITDA (excluding other income) rose by 9.2% to ₹123.78 crore, up from ₹113.39 crore during the corresponding period last year.

Key metrics:

• ROCE: 20.82%

• ROE: 16.98%

5. E.I.D. Parry (India) Ltd

E.I.D. Parry (India) Ltd, a Murugappa Group company, is involved in sugar production across India.

For the quarter ending 31 December 2024, the company reported consolidated operational revenue of ₹8,720 crore a 12% increase from ₹7,770 crore recorded in the same quarter the previous year. Its consolidated profit after tax and non-controlling interest rose to ₹195 crore, up from ₹118 crore during the corresponding period last year.

Key metrics:

• ROCE: 20.33%

• ROE: 8.67%

Best Ethanol Stocks in May 2025 Based on Net Profit Margin

Note: The list of best ethanol stocks above is sorted based on net profit margin and reflects data as of May 8, 2025.

Best Ethanol Stocks in May 2025 Based on Debt-to-Equity Ratio

Note: The list of best ethanol stocks above is sorted based on debt-to-equity and reflects data as of May 8, 2025.

Conclusion

Ethanol continues to be a key growth driver within India’s energy and sugar landscape. For May 2025, Piccadily Agro emerges as the standout performer with the highest 5-year CAGR and net margins. However, investors must weigh other factors such as valuation (PE), debt levels, and ROCE before making decisions.

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.