Buy, Sell Or Hold: Triveni Engineering and Industries, Balrampur Chini Mills, Dalmia Bharat Sugar and Industries, EID Parry, Bajaj Hindusthan Sugar — Analyst Forecast
- September 24, 2026
- Posted by: Kunal Singla
- Category: Market
India’s ethanol sector stocks are mostly sugar millers that have diversified into ethanol production under the government’s blending programme, businesses whose fortunes now depend as much on ethanol pricing and cane availability as on sugar sales. This piece checks five listed names on valuation and profitability.
Sector Snapshot (24 September 2026)
| Stock | LTP (Rs) | 52W High | 52W Low | P/E vs Industry | ROE | Our View |
|---|---|---|---|---|---|---|
| Triveni Engineering and Industries | 240.15 | 314.90 | 195.28 | 19.82 / 19.63 | 5.91% | Hold |
| Balrampur Chini Mills | 658.90 | 780.95 | 393.55 | 38.60 / 19.63 | 9.15% | Hold |
| Dalmia Bharat Sugar and Industries | 401.00 | 520.00 | 261.40 | 16.27 / 19.63 | 7.30% | Buy on Dips |
| EID Parry | 690.00 | 1,118.00 | 682.75 | 10.18 / 19.63 | 9.91% | Buy on Dips |
| Bajaj Hindusthan Sugar | 19.91 | 26.00 | 14.85 | 42.73 / 19.63 | 3.69% | Avoid / High Risk |
Quick Answer
EID Parry stands out among these ethanol sector stocks, trading close to its 52-week low at a steep discount to the industry average valuation. Dalmia Bharat Sugar and Industries offers a similar below-industry discount. Triveni Engineering and Industries trades near a fair valuation with modest returns, while Balrampur Chini Mills carries a richer multiple and Bajaj Hindusthan Sugar combines the richest valuation with the weakest return on equity in the group.
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Triveni Engineering and Industries: Hold
Triveni Engineering and Industries trades at Rs 240.15, down close to 24% from its 52-week high of Rs 314.90. It posts a price-to-earnings ratio of 19.82, almost exactly at the industry average of 19.63, with a return on equity of 5.91%. There is nothing alarming here, but nothing compelling enough to stand out either, which makes this a straightforward hold.
Balrampur Chini Mills: Hold
Balrampur Chini Mills is at Rs 658.90, down close to 16% from its 52-week high of Rs 780.95. It posts a return on equity of 9.15%, but its price-to-earnings ratio of 38.60 is the richest in this group, well above the industry average of 19.63. With the valuation already reflecting much of that profitability, this looks like a hold rather than a fresh buy.
Dalmia Bharat Sugar and Industries: Buy on Dips
Dalmia Bharat Sugar and Industries trades at Rs 401.00, down close to 23% from its 52-week high of Rs 520.00. It combines a return on equity of 7.30% with a price-to-earnings ratio of 16.27, below the industry average of 19.63. That mix of a discounted valuation and reasonable profitability makes it one of the more attractive ethanol sector stocks to accumulate on dips.
EID Parry: Buy on Dips
EID Parry is at Rs 690.00, close to its 52-week low of Rs 682.75 and down close to 38% from its high of Rs 1,118.00. It stands out with a price-to-earnings ratio of just 10.18 against an industry average of 19.63, alongside a return on equity of 9.91%. That combination of a deep discount, reasonable profitability and a stock near its lows makes it the standout ethanol sector stock to watch for accumulation.
Bajaj Hindusthan Sugar: Avoid / High Risk
Bajaj Hindusthan Sugar trades at Rs 19.91, down close to 23% from its 52-week high of Rs 26.00. Its price-to-earnings ratio of 42.73 is more than double the industry average of 19.63, while its return on equity of just 3.69% is the weakest in this group. That gap between a rich valuation and weak profitability puts this in high-risk territory rather than a name to add to.
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What Ties These Ethanol Sector Stocks Together
Across these ethanol sector stocks, EID Parry and Dalmia Bharat Sugar and Industries currently offer the more attractive combination of below-industry valuations and reasonable return on equity, with EID Parry also trading close to its 52-week low. Balrampur Chini Mills’ stronger brand position has earned it a richer multiple, while Bajaj Hindusthan Sugar’s combination of a rich valuation and weak returns is the clearest warning sign in the group. Government ethanol blending targets, cane and sugar pricing, and monsoon-driven crop output can all move these numbers meaningfully from one quarter to the next.
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Conclusion
Ethanol sector stocks in India currently show EID Parry and Dalmia Bharat Sugar and Industries as the better placed picks for gradual accumulation among these ethanol sector stocks, while Triveni Engineering and Industries and Balrampur Chini Mills are more reasonable holds and Bajaj Hindusthan Sugar’s weak fundamentals keep it in higher-risk territory. As always, treat this as a starting point rather than a final word.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Stock market investments are subject to market risks. Please verify all data independently and consult a SEBI-registered investment adviser before making any investment decisions. Univest Financial Services Private Limited, SEBI Registered Investment Adviser, Registration No. INH000013776.
Frequently Asked Questions
A few common questions on these ethanol sector stocks, answered briefly below for quick reference.
Which ethanol sector stocks look attractive right now?
EID Parry and Dalmia Bharat Sugar and Industries both combine below-industry valuations with reasonable return on equity among the names covered here, with EID Parry also trading close to its 52-week low.
Why is Bajaj Hindusthan Sugar considered high risk?
Bajaj Hindusthan Sugar trades at more than double the industry average price-to-earnings ratio while its return on equity of just 3.69% is the weakest among these ethanol sector stocks, a combination that puts it in high-risk territory.
How does ethanol blending policy affect these stocks?
Government targets for ethanol blending in petrol directly drive demand and pricing for sugar millers diverting cane juice toward ethanol production, making policy announcements a key factor for names like Triveni Engineering and Industries and Balrampur Chini Mills.
Is EID Parry the cheapest stock in this group?
Yes, EID Parry trades at a price-to-earnings ratio of 10.18, the lowest among these ethanol sector stocks and well below the industry average of 19.63.
Why does Balrampur Chini Mills trade at a premium?
Balrampur Chini Mills’ established scale and brand position in the sugar and ethanol business have led the market to price it above the industry average, even though its return on equity remains moderate.
Where can I track these ethanol sector stocks in real time?
You can track live prices, set price alerts, and follow quarterly results for Triveni Engineering and Industries, Balrampur Chini Mills, Dalmia Bharat Sugar and Industries, EID Parry and Bajaj Hindusthan Sugar using the Univest iOS App and Univest Android App.
