 PRESS RELEASE |
|
| The Oudh Sugar Mills Limited declares its 3rd Quarter Financial Results. |
| Mumbai, April 23, 2007. |
Oudh Sugar Mills Ltd. (OSML), belonging to the renowned K.K. Birla Group, is amongst the most efficient and rapidly expanding companies in the Sugar Industry. OSML owns three sugar units at (i) Hargaon Sugar Mills, Hargaon, Dist. Sitapur (U.P.) with a crushing capacity of about 10,000 tonnes crushed per day (TCD) (ii) New Swadeshi Sugar Mills, Narkatiaganj, Dist. West Champaran (Bihar) with a crushing capacity of about 7,500 TCD and (iii) Rosa Sugar Works, Rosa, Dist. Shahjahanpur, (U.P.) with a crushing capacity of about 4,200 TCD alongwith two distilleries i) at Hargaon with a capacity of producing 45 Kilo-Litre Per Day (KLPD) of Industrial Alcohol/Ethanol and (ii) at Narkatiaganj with a capacity of producing 30 KLPD of Industrial Alcohol/Ethanol. OSML also possesses a fruit and vegetable canning unit at Bamrauli near Allahabad (U.P.)
The Board of Directors of OSML at its meeting held on the 23rd April 2007 took on record the Unaudited Financial Results (Provisional) for the 3rd quarter ended 31st March, 2007. |
| Rs. in lakhs |
| Particulars |
3rd quarter ended 31.03.2007 |
3rd quarter ended 31.03.2006 |
Year ended 30.06.2006 |
| Turnover |
10,103.84 |
13,657.33 |
52,864.92 |
| Profit before Depreciation and Tax (PBDT) |
420.44 |
3,413.19 |
8,612.87 |
| Net Profit / (Loss) |
(41.25) |
1,973.57 |
4,536.51 |
|
|
OSML reported a PBDT of Rs.420.44 lacs and a Loss of Rs.41.25 lacs on a turnover of Rs.10,103.84 lacs for the quarter ended 31st March, 2007.
The margins for the sugar industry have been under pressure during the quarter under review. A sharp increase in cane prices and record sugar production in India resulted in low sugar prices and erosion in profitability. The problem was further aggravated by an unjustified ban on sugar exports by the Government of India. However, the Government of India has now decided to lift the export ban and it is now expected that part of the surplus sugar in the system is likely to move out of the country. The company’s policy of concentrating on co-products such as ethanol and cogeneration of power will give stability to its operations.
The expansion of Hargaon Sugar Mills, Hargaon (U.P.) from 7500 TCD to 10000 TCD with a co-generation power plant of 8 MW at a capital outlay of about Rs.116 crores has been completed & is currently operational.
The sugarcane crushing capacity of New Swadeshi Sugar Mills, Narkatiaganj (Bihar) has been increased to 7500 TCD with a co-generation power plant of 5 MW at a cost Rs. 37 crores.
The capacity enhancement of Hargaon Distillery, Hargaon, Dist. Sitapur, Uttar Pradesh to 100 KLPD at an estimated cost of Rs.100 crores approximately is progressing as per schedule.
The capacity of Narkatiaganj Distillery is proposed to be increased from 30 KLPD to 60 KLPD at estimated cost of Rs.12.06 crores.
Further, the setting up a Greenfield sugar unit at Hata, Gorakhpur (U.P.) at an estimated cost of Rs.336 crores with a capacity of 7000 TCD and co-generation power plant of 35 MW is progressing as per schedule. The plant will be operational during Sugar Season 2007 - 2008.
After completion of all the expansion programmes, The Oudh Sugar Mills Limited will have a consolidated crushing capacity of 28,700 TCD, Co-generation of 48 MW and two distilleries with a combined capacity of 160 KLPD.
The Company’s shares are listed at the NSE and BSE and are actively traded, having a 52 week high of Rs.294.85 and Rs.294.50 respectively. |
For further information please contact:
Mr. Anil Malhotra, Aadi Media
09810154657 / 011-26288197 |
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