Bengaluru: Jagatjit Industries aims to earn a profit of Rs 26 crore and garner revenue of Rs 820 crore in the next fiscal year, reports The Hindu BiusinessLine.
The Aristocrat liquor brand maker’s promoter and Chief Restructuring Officer, Roshini Sanah Jaiswal, said that the company will be focusing on its new ethanol plant and taking steps to reduce debt to achieve the set target.
The company’s revenue from operations in FY 2023 was reported at Rs 623.8 crore and the net profit was Rs 6.7 crore.
The company is expecting to start operations of a grain-based ethanol manufacturing plant by June 2024 which will significantly contribute to the revenue of the company and increase its profitability, said Jaiswal.
She further stated that the company is investing Rs 210 crore to set up an ethanol plant in Hamira, Punjab to produce 200 kilo litres per day.