Policy steps may boost profitability of sugar mills: Ind-Ra

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New Delhi, Aug 4 | India Ratings and Research (Ind-Ra) has said policy measures can boost profitability of the sugar sector in the second half of 2020-21.

In the sugar sector credit report’s quarterly edition, Ind-Ra said a Rs 2 per kg rise in the minimum selling price (MSP) might support profitability in H2FY21 and could increase sugar mills’ cash flow by around Rs 5,000 crore.

“Along with the cabinet note to raise the sugar MSP, the Ministry of Consumer Affairs, Food and Public Distribution has floated a note to increase the fair and remunerative price of sugarcane by Rs 10 per quintal to Rs 285 per quintal for the sugar season 2021,” it said.

Ind-Ra expects the move to result in net improvement in Ebitda (Earnings before interest, taxes, depreciation and amortisation) margins as realisations could increase 6-6.5 per cent against a rise of 3.5 per cent in the cost, causing around Rs 2,500 crore net cash inflow.

The agency said it expected the oversupply to persist in sugar season 2021 because of rise in production coupled with the high carryover stocks.

“While the 18 per cent year-on-year decline in production to 27.2 million tonnes in sugar season 2020 is likely to reduce the closing stock to 12 million tonnes (sugar season 2019 — 14.3 million tonnes), it would remain almost twice of the normative carry-forward requirement,” Ind-Ra said.

Ind-Ra expects 1.5 million tonnes fall in sugar demand in sugar season 2020. “Ind-Ra expects the Covid-19 outbreak to result in a demand decline of around 5 per cent in sugar season 2020. The agency expects a gradual resurrection in Q2 onwards, with Q3 and Q4 registering some growth, resulting in an overall decline of around 3 per cent in FY21,” it said.

“The imposition of fresh lockdowns due to spike in coronavirus cases, however, remains a key monitorable,” the rating agency said.

Source: IANS

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Handicraft Furniture setting a new trend in the interior and home décor industry

Handicraft Furniture setting a new trend in the interior and home décor industry

Furniture is one of the most prominent and significant aspects of any space. It adds a distinct depth and feel to the décor and enhances its beauty to the next level. Conventionally furniture was considered only as a side element while designing an interior. However, today the trend has changed; the limelight is on the furniture and furnishing elements. Young interior designers and architects are giving utmost importance to furniture and are heavily investing their time and efforts to get the best furniture for modern urban spaces.

Antique Handicraft Furniture

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Preserving the art of Handicraft

Handicraft furniture online is a part of Indian heritage and culture from the Britishers time. Handicraft furniture speaks volumes about our rich history and love for art. Handicraft furniture is an integral part of our interiors and gives your premise an elegant touch. However, over the period of time with the introduction of modernization and machine-made furniture, the significance of handicraft furniture has been also affected to a great extent.  Furniture giants like Craftatoz are exerting themselves to promote the artisan’s talent and preserve the art of handicraft. They are bringing handicraft furniture to modern homes and preserving our legacy. Handicraft furniture is a seamless combination of modern art, style, and antiquity. They are unmatched and a true epitome of sophistication.

Handicraft furniture suits your décor and adds more splendor to it

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Taking furniture industry to newer heights

Like every industry, the furniture industry has also witnessed several ups and downs. The trends in the furniture industry are ever-evolving. There are continuous introductions and upgrades in this sector. However, the heart of the furniture segment is still ‘Handicraft Furniture’ the simplicity, quirkiness, antique touch, regal patterns and immersive feel of handicraft furniture still continue to mesmerize everyone with its grandeur and sheer opulence.

Handicraft furniture is at the pedestal and gaining substantial attention worldwide. They are widely acknowledged as one of the most reputed, credible, and authentic Indian art forms. The handicraft furniture reflects the legacy of the country and opens new avenues for Indian craftsmen and artefacts. Craftatoz with an aim to provide these artists global exposure and widespread Indian culture to every corner of the world brings a well-thought, finely detailed range of handicraft furniture that creates the cult and sets new milestones in the world of online furniture.

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