 PRESS RELEASE |
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| The Oudh Sugar Mills Limited declares its Audited Annual Financial Results for the year ended 30th June, 2007. |
| Mumbai, 28th September, 2007. |
The Oudh Sugar Mills Ltd. (OSML), belonging to the renowned K.K. Birla Group, is amongst the most efficient and rapidly growing companies in the Sugar Industry. OSML possesses 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 along with two distilleries at i) 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 28th September 2007 approved the Audited Financial Results for the year ended 30th June, 2007. |
| FINANCIALS AT A GLANCE |
| Rs. in lakhs |
| Particulars |
Year ended 30.06.07 |
Year ended 30.06.06 |
| Gross Sales |
46821.06 |
52871.61 |
| Profit/ (Loss) Before Depreciation and Tax (PBDT) |
(1914.43) |
8612.87 |
| Net Profit / (Loss) |
(2689.55) |
4536.51 |
| EPS (Rs.) |
(14.80) |
24.96 |
|
|
OSML reported a loss after tax of Rs. 2689.55 lakhs on a turnover of Rs 46821.06 lakhs for the year ended 30th June, 2007.
The sugar industry is facing a financial crisis due to a glut in the sugar market created by a bumper production and a consequential steep decline in sugar prices. However, the Company’s policy of concentrating on co-products such as ethanol and co-generation of power will provide support to its operations especially as the Government is further strengthening the ethanol blending programme in India.
Capital Projects:
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 enhancement of Narkatiaganj Distillery, Bihar to 60 KLPD at an estimated cost of Rs.12 crores approximately is progressing as per schedule.
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 financial closure of all the capital projects have been completed at competitive terms. 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. 124.95 and Rs.125.00 respectively. |
For further information please contact:
Mr. Anil Malhotra, Aadi Media
09810154657/011-26288197 |
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