Kesar Enterprises

What Kesar Enterprises does

Kesar Enterprises Limited (KEL) is a publicly traded, family-controlled Indian agribusiness and energy company in operation since 1933, listed on the Bombay Stock Exchange (BSE: 507180). It operates a single-site integrated complex at Baheri, District Bareilly, Uttar Pradesh, anchored by three divisions: (i) a Sugar division with 7,200 TCD crushing capacity (planned uplift to 10,000 TCD); (ii) a Spirits division with a 50 KL/day distillery producing Rectified Spirit, Extra Neutral Alcohol (ENA), DS/SDS, Indian Made Foreign Liquor (IMFL), Country Liquor, and merchant CO2 (~9 tons/day); and (iii) a Cogeneration division with a 44 MW bagasse-based power plant exporting 32 MW of surplus to the Uttar Pradesh Power Corporation Limited (UPPCL) under a Power Purchase Agreement. The plant uses high-pressure boiler technology (115 ata/543°C) with double-extraction condensing turbines, engineered by Chennai-based Avant-Garde Engineers & Consultants.

KEL's economic engine is byproduct linkage: sugarcane yields sugar, molasses is fermented into high-value alcohol and CO2, and bagasse is combusted to generate renewable electricity — both for in-house use and grid export. The model is explicitly designed to dampen the cyclicality of Indian sugar prices by adding regulated (PP-backed) power revenue and inelastic beverage-alcohol demand to the mix. All three divisions are ISO 9001:2008 certified; the company is also ISO 14001:2004 certified for environmental management. Sugar is sold to industrial buyers and the domestic market; spirits are sold through licensed distributors, with dedicated bottling for CSD (Canteen Stores Department / military) and third-party distilleries; power flows directly to UPPCL.

The company is part of the Kilachand Group, with Mr. Harsh R. Kilachand as Chairman & Managing Director since 1997, and ~37,000 sugarcane farmers in its cane-development ecosystem. Headcount is 101–250 with corporate headquarters at Churchgate, Mumbai. In March 2010 the legacy Kandla Storage Terminal was demerged into Kesar Terminals & Infrastructure Limited (KTIL); in October 2012 KEL joined a PPP/Composite Logistics Hub JV (KMLL) with KTIL and the MP State Mandi Board. More recently (FY26) the company has reported revenue of Rs 176.45 crore, up 63.70% YoY, and net profit of Rs 29.88 crore, up 52.22% YoY, while it has disclosed an active sugar capacity expansion, land acquisition in Nagpur, and a wholly-owned infrastructure subsidiary (YK Infraproject) — pointing to a still-evolving perimeter beyond its Baheri core.

Name

Kesar Enterprises

Legal name

Kesar Enterprises Limited

Website

https://kesarindia.com

Company type

Public

Founded year

1933

Operating status

Operating

Headcount range

101–250 employees

Short description

Kesar Enterprises Limited (BSE: 507180) is an integrated agribusiness operating a 7,200 TCD sugar mill, 50 KL/day distillery, and 44 MW bagasse-based cogeneration plant at Baheri, Uttar Pradesh, selling sugar, spirits, and renewable power to industrial buyers, distributors, the military (CSD), and UPPCL.

Ownership category

akta.pro rank

Product category

Sugar Manufacturing

NAICS

Cane Sugar Manufacturing (311314), Distilleries (312140), Sugar Manufacturing (31131)

SIC

Beverages (2080), Cogeneration Services & Small Power Producers (4991), Agricultural Production-Crops (100)

akta.pro industry

PRIMARYEUAAAHAA

Grain & Sugar-Based Ethanol Production

Energy, Utilities & Environment/Bioenergy, Natural Gas & Biomass/Biofuels Production (Ethanol, Biodiesel, Renewable Diesel, SAF)

SECONDARYAFAFAHAJ

Fermented Beverage Contract Manufacturing & Private Label

Agriculture & Food Production/Beverage Production/Fermented Beverage Production (Kombucha, Kefir, Probiotics)

SECONDARYAFAIAGAK

Bulk Beverage & Keg Distribution

Agriculture & Food Production/Food Distribution & Wholesale/Beverage Wholesale (Alcoholic & Non-Alcoholic)

Keywords

• Sugar manufacturing
• Distillery spirits
• Bagasse cogeneration
• Country liquor production
• Ethanol ENA

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Sugar Manufacturing and Sale: Sugar manufacturing and sale from sugarcane processing at the 7200 TCD capacity sugar factory in Baheri, Uttar Pradesh. Sugar is sold in the domestic market to industrial buyers and consumers.
2. Spirits and Alcohol Production: Production and sale of Rectified Spirit (RS), Extra Neutral Alcohol (ENA), Denatured Spirit (DS/SDS), Indian Made Foreign Liquor (IMFL), Country Liquor (CL), and CO2. Also includes bottling facilities for CSD/Military supplies. Capacity of 50 KL per day.
3. Power Cogeneration and Export: Export of surplus power from bagasse-based cogeneration plant to UPPCL grid. Power Purchase Agreement in place for 32 MW export capacity. Installed capacity is 39 MW in crushing season and 44 MW in off-season. Cogeneration provides additional revenue stream to de-risk sugar business cyclicality.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Kesar Enterprises Limited is an integrated manufacturer producing sugar (7200 TCD capacity at Baheri, Uttar Pradesh), spirits and alcoholic beverages (50 KL/day producing RS, ENA, DS/SDS, IMFL, and Country Liquor), and renewable cogeneration power (44 MW bagasse-based plant exporting to the UPPCL grid). The company operates a vertically integrated sugarcane processing model in which sugarcane juice becomes sugar, molasses becomes alcohol/spirits, and bagasse byproduct is combusted to generate power that is partly self-consumed and partly exported.

Product overview

Kesar Enterprises Limited operates as a multi-divisional industrial company with three core business segments: Sugar (manufacturing and sale of sugar with 7200 TCD capacity, expansion to 10000 TCD planned), Spirits (production of Rectified Spirit, ENA, DS/SDS, IMFL, and Country Liquor at 50 KL/day capacity), and Cogeneration (bagasse-based power generation with 44 MW capacity). The company follows an integrated business model where sugarcane processing produces sugar, with byproducts (molasses and bagasse) utilized for alcohol/spirits production and power generation respectively.

Differentiator

Problem solved

Functional benefit

Products and services

• Sugar Manufactured sugar from sugarcane processing at the 7200 TCD capacity sugar factory in Baheri, Uttar Pradesh, sold in the domestic market to industrial buyers and consumers; supported by R&D programs for high-yielding early-maturing sugarcane varieties and cane development services to over 37,000 farmers.
• Spirits (RS, ENA, DS/SDS, IMFL, Country Liquor, CO2) Distillery division producing Rectified Spirit (RS), Extra Neutral Alcohol (ENA), Denatured Spirit (DS/SDS), Indian Made Foreign Liquor (IMFL), Country Liquor (CL), and CO2 with a 50 KL/day capacity. Includes high-speed bottling lines (2 lines at 240 BPM and 4 semi-automatic 60 BPM lines) serving CSD/military supplies and contract bottling for other distilleries.
• Cogeneration Power Bagasse-fueled cogeneration of power at Baheri, Uttar Pradesh. Generates high-pressure steam from sugarcane bagasse byproduct; supplies internal sugar process loads and exports surplus power (up to 32 MW) to the UPPCL grid under a Power Purchase Agreement.

Quantifiable outcome

• Steam consumption reduced from 50% to 42% on Cane through Boiler house modifications
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Kesar Multimodal Logistics Limited (KMLL)minorStrategic or Co-development Partner · 22 October 2012Special Purpose Vehicle (SPV) company jointly established by Kesar Terminals & Infrastructure Limited (KTIL) and Kesar Enterprises Limited (KEL) to develop a Composite Logistics Hub at Powarkheda, Madhya Pradesh under Public Private Partnership (PPP) model with Madhya Pradesh State Agricultural Marketing Board (Mandi Board). The project includes Private Freight Terminal with railway sidings, warehousing, cold storage, bonded warehouses, Inland Container Depot, and agri product processing units spread over 88.3 acres.
• Madhya Pradesh State Agricultural Marketing Board (Mandi Board)minorStrategic or Co-development Partner · 22 October 2012Government body that entered into Concession Agreement with Kesar Multimodal Logistics Limited (KMLL) for setting up Composite Logistics Hub at Pawarkheda, Madhya Pradesh on PPP model.
• Kesar Terminals & Infrastructure Limited (KTIL)minorStrategic or Co-development PartnerFormer sister company through demerger (March 2010) from Kesar Enterprises. Currently consortium partner in Kesar Multimodal Logistics Limited (KMLL) for the Composite Logistics Hub project.
• UPPCL (Uttar Pradesh Power Corporation Limited)coreOthersState electricity grid operator in Uttar Pradesh. Kesar Enterprises has Power Purchase Agreement with UPPCL for export of 32 MW of cogenerated power from its bagasse-based power plant.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Dhampur Sugar Mills Limited: Uttar Pradesh sugar producer with integrated distillery and power operations. Closely comparable on integrated structure and North Indian cane procurement profile, including government offtake exposures.
• Ugar Sugar Works Limited: Karnataka-based integrated sugar and distillery producer with cogeneration. Comparable integrated sugarcane-to-sugar-to-spirits-to-power structure, though operating in a different cane procurement region.
• Shree Renuka Sugars Limited: Large Indian sugar and ethanol manufacturer with crushing operations in Maharashtra and other states plus ethanol capacity. Comparable in producing sugar, rectified spirit/ENA and renewable power from bagasse, like Kesar.
• Radico Khaitan Limited: Major Indian spirits manufacturer producing IMFL including whiskey, rum, brandy and vodka. Comparable to Kesar's spirits (IMFL/RS/ENA/CL) product portfolio and route-to-market through state liquor corporations.
• Dalmia Bharat Sugar and Industries Limited: Integrated sugar and distillery producer with multiple sugar mills and ethanol plants across North India. Comparable integrated sugar-plus-spirits model that mirrors Kesar's combined sugar and ENA/IMFL focus.
• Balrampur Chini Mills Limited: One of India's largest integrated sugar producers with sugar, ethanol/distillery and cogeneration operations based largely in Uttar Pradesh. Closest direct comparable to Kesar on geography, product mix and integrated business model.
• Triveni Engineering & Industries Limited: UP-based diversified industrial group with significant sugar, distillery and cogeneration businesses. Comparable integrated UP sugar model with similar exposure to cane FRP and ethanol offtake dynamics.
• Bajaj Hindusthan Sugar Limited: India's largest sugar manufacturer by capacity, with operations concentrated in Uttar Pradesh and an integrated sugar, ethanol and power setup. Highly comparable to Kesar on product mix and regional footprint, though at much greater scale.
• EID Parry (India) Limited: Leading South Indian sugar producer with distillery and power operations, part of the Murugappa Group. Comparable integrated sugarcane processing business with ENA and co-generation exposure, similar to Kesar's mix.
• Simbhaoli Sugars Limited: UP-based sugar, ethanol and bio-power company with a 44 MW bagasse cogeneration plant, similar in scale and integrated model to Kesar Enterprises, including OMC ethanol tie-ups.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=k3hv5fUuPIw
• Facebookfacebook.com/Kesar-Enterprises-Ltd-376447612755201
• LinkedInlinkedin.com/company/kesar-enterprises-ltd.

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kesar Enterprises