Stocks of sugar companies in Tamil Nadu are taking a beating on the exchanges — they are close to hitting 52-week lows in the backdrop of an all-time poor performance anticipated in the coming season. Stock prices sliding as the 2016-17 sugar season comes to a close this month. Following an extended dry spell in Tamil Nadu, production has been steadily dropping in recent years and the coming 2017-18 (October to September) season could mark a historic low with capacity utilisation in the vicinity of about 25 per cent, on installed capacity. From a sugar production of 23.79 lakh tonnes in 2011-12, Tamil Nadu’s output has dropped to 10.45 lakh tonnes in 2016-17 and is estimated to hit a low of about 5.7 lakh tonnes in the coming season. This is just about four months’ consumption for the State. Mills elsewhere in UP, Maharashtra and Karnataka are set to benefit from the unfolding scenario.