Ethanol Stocks: List of the Top Ethanol Companies in India

How to Invest in Ethanol Stocks?

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1. Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.


2. Search for Ethanol Stocks: Go to Tickertape Stock Screener and search for ethanol stocks.


3. Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or dividend yield. You can create your own custom filter if your preferred parameters are not available. This can help you narrow down the top ethanol stocks in India.


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Overview of the Top Ethanol Stocks

Balrampur Chini Mills Ltd

Balrampur Chini Mills is one of India’s largest integrated sugar companies and a major ethanol-linked player. The company has an aggregate distillery capacity of 1,050 KLPD, which supports ethanol production in India from sugarcane-based feedstocks and makes it a key participant in India’s ethanol blending theme.

Triveni Engineering and Industries Ltd

Triveni Engineering and Industries has a sizeable presence in sugar and alcohol production, along with engineering businesses. Its alcohol business capacity has expanded to 860 KLPD, giving it strong exposure to ethanol demand from India’s fuel-blending programme.

Shree Renuka Sugars Ltd

Shree Renuka Sugars is an integrated sugar and ethanol company with one of the largest ethanol capacities among listed sugar players. The company states that its ethanol capacity has expanded from 720 KLPD to 1,250 KLPD, making ethanol a major part of its green energy business.

E I D-Parry (India) Ltd

E I D-Parry is a long-established sugar and bio-products company with operations across sweeteners, distillery and nutraceuticals. Its ethanol capacity has been reported at around 582 KLPD, making it a sizeable ethanol-linked company, though its broader business is more diversified than pure sugar-ethanol players.

Dalmia Bharat Sugar and Industries Ltd

Dalmia Bharat Sugar is an integrated sugar company with operations across sugar, ethanol/distillery and cogeneration. Its distillery capacity is reported at 950 KLPD across Uttar Pradesh and Maharashtra, giving it meaningful exposure to India’s ethanol blending opportunity.

Union Budget and Government Updates for the Ethanol Sector in India in 2026-27

1. E20 Target Achieved: India reached 20% ethanol blending in 2025-26, five years ahead of the original schedule. Ethanol procurement is projected to exceed 1,200 cr litres during the year.
2. Capacity Expansion: India’s ethanol production capacity increased from 421 cr litres in 2014 to about 2,000 cr litres in 2026, supported by sugar and grain-based distilleries.
3. Focus on Feedstocks: Government policy continues to support ethanol from sugarcane, maize, rice and other eligible feedstocks, while the Economic Survey highlighted emerging food-security trade-offs from maize incentives.
4. 2G Ethanol Support: The government continues promoting second-generation ethanol through the Pradhan Mantri JI-VAN Yojana, using agricultural residues and other biomass instead of conventional food-based feedstocks.
5. Economic Impact: Since 2014-15, ethanol blending has saved more than ₹1.90 lakh cr in foreign exchange, substituted over 310 lakh tonnes of crude oil and increased farmer earnings.
6. Beyond E20: As of 2026, the government has not announced a nationwide blending mandate above 20%, while flex-fuel vehicles and advanced biofuels remain areas of further development.

What are Ethanol Stocks?

Ethanol stocks are publicly traded companies involved in producing, selling, or distributing ethanol, a biofuel typically made from crops like corn, sugarcane, or other plant material.

Ethanol, a versatile by-product of the sugar industry, has applications in various sectors, including plastics, polishes, plasticisers, medications, and cosmetics. In recent years, the surging demand for biofuels in India has led to the growth of ethanol companies.

Ethanol Market in India

1. E20 Milestone: India achieved 20% ethanol blending in petrol during ESY 2025-26, reaching its target five years ahead of the original 2030 timeline.
2. Production Growth: Ethanol production capacity expanded nearly fivefold from 421 cr litres in 2014 to around 2,000 cr litres in 2026, supported by investments in sugarcane and grain-based distilleries.
3. Higher Procurement: Ethanol procurement increased from about 38 cr litres in ESY 2013-14 to more than 1,200 cr litres in ESY 2025-26, reflecting rising domestic demand.
4. Import Savings: The Ethanol Blended Petrol Programme has helped reduce crude oil imports, improve energy security and generate additional income opportunities for farmers.
5. Policy Support: The Ethanol Blended Petrol Programme remains a key pillar of India's biofuel strategy, with E20 now implemented nationwide while flex-fuel vehicles support higher ethanol blends in the future.

Conclusion

India boasts a robust presence of ethanol companies, many of which rank globally among the foremost ethanol producers. The heightened demand for ethanol globally has propelled the Indian ethanol market to new heights, with projections indicating a remarkable CAGR of 9.16%. It is projected that by 2029, the Indian ethanol market is set to achieve a market value of $4.15 bn.

However, since ethanol is a by-product of sugar, running a detailed analysis of the companies before investing is essential. For this purpose. #TickertapeHaiNa! Tickertape Stock Screener offers 200+ filters, custom filters, custom universe, and more to analyse any stock thoroughly. Moreover, with Tickertape, you can identify the intrinsic value, dubbed as the true value of a stock, with the pro version.