Meenakshi Saraogi, 

It’s not been an entirely sweet year for Saraogi, who runs India’s second largest sugar business. Sugar is a cyclical business, and cane farming is at the heart of many political manoeuvres. But Balrampur has thrived under Saraogi. Last year, revenue rose 25% to Rs 3,067 crore, but profits dipped to Rs 6.6 crore due to poor realisations. To offset the performance of the sugar division and bring stability to a cyclical business, Saraogi has been driving investments in by-products of sugar. That paid off last year, with by-products, essentially ethanol and co-generation, growing by 20% to Rs 370 crore. The 10 factories of the company crushed 860 lakh quintals of cane, 23% more than the previous year and the company’s average recovery at 9.55% was the second highest among sugar companies in Uttar Pradesh.