 PRESS RELEASE |
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| Upper Ganges Sugar & Industries Ltd announces its 2nd Quarter/ Half Yearly Financial Results. |
| Kolkata, January 19, 2006 |
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Increase in net profit by 52.52% in the second quarter 2005-06 at Rs. 1370.70 lacs as compared to Rs. 898.71 lacs in the second quarter 2004-05. |
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PBDT up 26.16% in the second quarter 2005-06 at Rs. 2272.46 lacs as compared to Rs. 1801.32 lacs in the second quarter 2004-05. |
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Turnover up 50.18% in the second quarter 2005-06 at Rs. 10901.76 lacs as compared to Rs. 7259.05 lacs in the second quarter 2004-05. |
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Installation of 24 MW Co-Generation Plant. |
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Expansion of Distillery to 100 kilo litre/day. |
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| Upper Ganges Sugar & Industries Ltd. (UGSIL), belonging to the renowned K.K. Birla Group, is amongst the most efficient and rapidly expanding companies in the Sugar Industry. The Board of Directors of UGSIL at its meeting held on the 19th January, 2006 took on record the Unaudited Financial Results (Provisional) for the 2nd quarter ended 31st December, 2005. |
| FINANCIALS AT A GLANCE |
| ( Rs. in lacs ) |
| Particulars |
2nd quarter ended 31.12.2005 |
2nd quarter ended 31.12.2004 |
Percentage Change |
Half Year ended 31.12.2005 |
Half Year ended 31.12.2004 |
Percentage Change |
| Turnover |
10901.76 |
7259.05 |
50.18 |
19923.79 |
14170.52 |
40.60 |
| Profit before Depreciation,Exceptional Items and Tax (PBDT) |
2272.46 |
1801.32 |
26.16 |
3127.12 |
2263.65 |
38.15 |
| Net Profit |
1370.70 |
898.71 |
52.52 |
1811.94 |
298.25 |
507.52 |
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Upper Ganges reported an increase in its Net Profits by 507.52% at Rs. 1811.94 lacs, in PBDT by 38.15% at Rs. 3127.12 lacs and Turnover by 40.60% at Rs. 19923.79 lacs for the half year ended 31st December, 2005 as against Net Profit of Rs. 298.25 lacs, PBDT of Rs. 2263.65 lacs and Turnover of Rs. 14170.52 lacs respectively for the half year ended 31st December, 2004. The quarterly performance also improved remarkably. There was an increase in Net Profits by 52.52% at Rs. 1370.70 lacs, in PBDT by 26.16% at Rs. 2272.46 lacs and Turnover by 50.18% at Rs. 10901.76 lacs for the quarter ended 31st December, 2005 as against Net Profit of Rs. 898.71 lacs, PBDT of Rs. 1801.32 lacs and Turnover of Rs. 7259.05 lacs respectively for the quarter ended 31st December, 2004.
Commenting on the commendable performance of the Company, Mr. C.S Nopany, Director, Upper Ganges Sugar & Industries Ltd. said, “We are happy with the Company’s performance for the 2nd Quarter ended 31st December, 2005 and our focus will continue to be on improving the overall operating efficiencies. We expect that the on going expansion and diversification initiatives will go on stream as per schedule and will help us to follow the same growth trajectory even in the forthcoming year.”
The achievement of the Company can be accredited to its consistent growth approach which has enabled the Company to grow from a single unit sugar manufacturing company to a company having two sugar factories at Seohara (U.P.) and at Sidhwalia (Bihar) with an aggregate crushing capacity of about 13,500 tonnes of sugarcane per day, a distillery at Seohara (U.P.) and Tea Estate in Upper Assam - Cinnatolliah Tea Garden.
Integrated Sugar Complex:
The expansion of the Company’s Distillery at Seohara from 55 KLPD to 100 KLPD at an estimated outlay of Rs. 36.08 crores is progressing as per schedule and is expected to commence production at the enhanced capacity from December, 2006.
The installation of a 24 MW Co-Generation Plant at Seohara for export and captive use at an estimated capital outlay of about Rs. 100.00 crores is in progress and the plant is likely to go on stream at the beginning of the calendar year 2007.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded, having a 52 week high of Rs. 375. |
For further information please contact:
Amrita Roy
Communications 2.O
Ph: 2289-2636/30954039 |
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