 PRESS RELEASE |
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| Upper Ganges Sugar & Industries Ltd declares its Audited Annual Financial Results for the year ended 30th June, 2006. |
| Kolkata, 17th August 2006 |
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Audited Financial Results for the year 2005-06. |
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Dividend on Equity Shares @ Rs 5. per share on increased capital. |
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Expansion of Hasanpur Sugar Mills, Hasanpur [Bihar] , a unit of UGSIL. |
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Increase in net profit by 109% at Rs. 28.62 crores as compared to Rs. 13.69 crores in the previous year 2004 –05. |
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Gross Sales increased by 16.85% during the year 2005-06 at Rs. 443.31 crores as compared to Rs. 379.39 crores for the previous year. |
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The Board of Directors of Upper Ganges Sugar & Industries Ltd. (UGSIL) at its meeting held on the 17th August, 2006 at Kolkata approved the Audited Financial Results of UGSIL for the year ended 30th June, 2006.
The Directors have recommended a Dividend of Rs.5 per Equity Share on the increased capital.
Bharat Sugar Mills, Sidhwalia a unit of Upper Ganges Sugar & Industries Ltd [UGSIL] has been granted ISO: 9001:2000 certification for the manufacture and sale of sugar and its by-products. |
| FINANCIALS AT A GLANCE |
| ( Rs. in lakhs ) |
| Particulars |
Year ended 30.06.2006 |
Year ended
30.06.2005 |
Percentage change |
| Gross Sales |
44330.68 |
37938.50 |
16.85 |
| Profit Before Depreciation, Exceptional Items and Tax (PBDT) |
5668.29 |
6001.83 |
(5.56) |
| Profit after Tax. |
2862.29 |
1369.44 |
109.01 |
| EPS (Rs.) |
40.86 |
19.57 |
- |
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Upper Ganges reported satisfactory increase in its turnover by 16.85% at Rs. 443.31 crores for the year ended 30th June, 2006 as against Rs. 379.39 crores for the previous year ended 30th June, 2005.
Commenting on the improved performance of the Company, Shri C.S Nopany, Director, UGSIL said, “The Company has been following a policy of growth through value addition. We have been making substantial investments in power and ethanol as these sectors would enhance returns to our investors. Enhancing our capacities at opportune moments to increase efficiencies will continue to receive top priority.”
Presently Upper Ganges has three sugar manufacturing units (one in U.P. and two in Bihar) with an aggregate crushing capacity of about 14,250 tonnes crushing per day (tcd), one distillery at Seohara and a Tea Estate in Upper Assam, Cinnatolliah Tea Garden, North Lakhimpur, (Assam).
The Company raised funds from the capital markets through an issue of 45, 52,852 Equity Shares of Rs. 10/- each at a premium of Rs. 140 per share aggregating Rs. 68,29,27,800 on a Rights basis. The Equity Shareholders were offered 13 Equity Shares for every 20 Equity Shares held by them. The issue was fully subscribed and closed on 27th July 2006. The shares have been allotted and trading permissions have been granted by the Stock Exchanges.
Capital Projects:
Upper Ganges is in the process of implementing various capital projects with an aggregate investment of Rs 391 crores. At the completion of these projects Upper Ganges will have a consolidated crushing capacity of 20,000 TCD, captive power generation of 42 MW and a distillery of 100 kilo litres per day (klpd).
The expansion of Bharat Sugar Mills, Sidhwalia (Bihar) a unit of the Company, from 2500 tonnes crushing daily (TCD) to 5000 TCD with a sulphur free Sugar Refinery and a Co-generation Plant of 18 MW at a capital outlay of about Rs. 125 crores is progressing satisfactorily and is expected to go on stream from the start of crushing operations for the season 2007-08.
The installation of a 24 MW Co-generation Plant at Seohara, at an estimated capital outlay of about Rs. 100 crores is under implementation, and the plant is progressing as per schedule.
The expansion of the Company’s Distillery at Seohara from the existing capacity of 55 klpd to 100 klpd at an estimated cost of about Rs. 36 crores is progressing as per schedule.
The sugarcane crushing capacity of Hasanpur Sugar Mills, Samastipur (Bihar), a unit of the Company, is being expanded from 1750 TCD to 5000 TCD at a cost Rs. 130 crores.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded having a 52 week high of Rs. 482. |
For further information please contact:
Ms. Swati Jalan / Poorvi Poddar
Communications 2.0
Ph - 9830909481, 32954039 |
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