 PRESS RELEASE |
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| The Oudh Sugar Mills Limited declares Annual Financial Results for the year ended 30th June, 2010. |
| Mumbai, 27th August, 2010 |
The Oudh Sugar Mills Limited (OSML), belonging to the renowned K.K. Birla Group, announced its financial results for the year ended 30th June’10 today.
The Board of Directors of OSML at its meeting held on the 27th August 2010 approved the following Audited Financial Results for the year ended 30th June, 2010. |
| FINANCIALS AT A GLANCE |
| Rs. in lakhs |
| Particulars |
Year ended 30.06.10 |
Year ended 30.06.09 |
| Gross Revenue |
53833.63 |
55912.40 |
| Profit / (Loss) Before Depreciation, Interest and Tax (PBIDT) |
1109.63 |
10578.35 |
| Net Profit / (Loss) after tax |
(8256.98) |
1917.38 |
| EPS (Rs.) |
(31.70) |
9.34 |
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While the Company’s Gross Sales (inclusive of Excise Duty) was lower by 4.82% on year on year basis the revenue from spirit based ethanol increased by 5.90% and of co-generation of bagasse based power increased by 122.30%.
Factors contributing to decline in sale of sugar business can be traced to increase in Levy Sugar obligation from 10% to 20%, limiting the stock holding of bulk consumer to 10 days’ consumption while there being no such limit for holding imported sugar and duty free import of raw and white sugar. However, the Government is now realising the plight of the sugar industry and relaxing some of the measures like the weekly release mechanism etc. only to revive the sugar demand and sugar prices.
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The Company’s shares are listed at the NSE & BSE and are actively traded at around Rs.39.00
About Oudh Sugar Mills Ltd. (OSML)
OSML is amongst the most eminent and rapidly expanding companies in the Sugar Industry. OSML owns four 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 (iv) New India Sugar Mills – Hata with a crushing capacity of about 7000 TCD alongwith two distilleries i) at Hargaon with a capacity of producing 100 Kilo-Litres Per Day (KLPD) of Industrial Alcohol/Ethanol and (ii) at Narkatiaganj with a capacity of producing 60 KLPD of Industrial Alcohol/Ethanol. The Company also has co-generation power plants at Hargaon, Narkatiaganj and Hata with a total Co-generation capacity of 60 MW. OSML also possesses a fruit and vegetable processing unit at Bamrauli near Allahabad (U.P.). |
For further information please contact:
Swati Jalan / Lucy Dass
9830111376/9874549235
sjalan@comm20.com / ldass@comm20.com
Communications 2.0 |
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