15-01-2024 11:49 AM | Source: Accord Fintech
Associated Alcohols rises on starting commercial production at ethanol plant in Madhya Pradesh

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Associated Alcohols is currently trading at Rs. 514.95, up by 5.85 points or 1.15% from its previous closing of Rs. 509.10 on the BSE.

The scrip opened at Rs. 523.05 and has touched a high and low of Rs. 529.00 and Rs. 511.00 respectively. So far 17162 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 529.00 on 15-Jan-2024 and a 52 week low of Rs. 311.40 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 529.00 and Rs. 481.00 respectively. The current market cap of the company is Rs. 934.33 crore.

The promoters holding in the company stood at 58.67%, while Institutions and Non-Institutions held 0.48% and 40.85% respectively.

Associated Alcohols & Breweries (AABL) has started commercial production its Ethanol plant situated at Barwaha (Near Indore), Madhya Pradesh. The new ethanol plant capacity is 130 KLPD and has been set up with an around investment of Rs 150 crore. It is a grain-based ethanol facility equipped with the capability to process various feedstocks. The plant is equipped with advanced technology and a commitment to eco-friendly practices, representing a major milestone in AABL’s dedication to providing clean energy solutions. 

In addition, a boiler has been installed alongside the ethanol plant, capable of utilizing a range of fuels, including coal, husk, and briquettes. This strategic addition will improve operational efficiency and overall performance. The ethanol plant complements the company's current offering as a supplier of high-quality Extra Neutral Alcohol (ENA) for its Indian-made foreign liquor (IMFL) products and to the other bottlers.

Associated Alcohols and Breweries is one of the largest distilleries in India. The company is engaged in the business of bottling vodka and Scotch whisky for large reputed international brands.