Lower-than-expected rainfall in Maharashtra's key sugarcane districts reduced cane yield during the sugar season/SS 2024, with a dry spell in August impacting production in Maharashtra and Karnataka, which contribute over half the country's sugar production. Lower cane availability is predicted to decrease sugar production by 3-4%, leading to a price increase of 2-3% due to weak supply and demand. sometimes sugar exports due to low supply, with the restriction set to remain until further notice. Lower cane availability is expected to result in a reduction in cane being diverted for ethanol production from 4.5 to 4 million tons. Despite reduced exports and a decline in ethanol production, Ebitda margins of micro, small and medium enterprises (MSMEs) in the sugar industry are projected to increase in the upcoming quarters. The financial performance of the company is anticipated to be positively impacted by sugar prices due to significant sugar segment involvement.