In last two months the MEG prices have gone up from about USD 1,000 per tonne to about USD 1,250 per tonne. In fact there has been 25% rise in the realisation while we have not seen increase in the raw material prices being molasses because sugar season is quite robust this year and the production is estimated to be more than 30 35% as compared to last year.The price of molasses remains quite stable, which is a raw material for the company. If I take working of this company for last three quarters; in Q1 that is quarter ended June 2010 the company had posted a negative net loss of about Rs 8 crore which has resulted into a minus EPS of about Rs 3 but thereafter as I said that since the stabilisation of the molasses price the company has been able to post a PAT of about Rs 8 crore every quarter.Overall, for nine months though in the last two quarters the company had an EPS of Rs 6 but because of loss negative EPS of Rs 3 in the first quarter; the net EPS for nine months has been placed at about Rs 3 on the share.
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