 PRESS RELEASE |
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Upper Ganges Sugar & Industry Limited declares its Audited Annual Financial Results for the year ended 30th June,2007.
Kolkata, 21st September, 2007 |
Upper Ganges Sugar & Industries Ltd. (UGSIL), belonging to the K.K. Birla Group, is amongst the most efficient and rapidly expanding companies in the Sugar Industry. UGSIL owns three sugar factories at Seohara (U.P.), at Sidhwalia (Bihar) and at Hasanpur (Bihar) with an aggregate crushing capacity of about 14,250 tonnes of sugarcane per day, a distillery at Seohara (U.P.) and Tea Estate in Upper Assam – Cinnatolliah Tea Garden.
Bharat Sugar Mills, Sidhwalia a unit of Upper Ganges Sugar & Industries Ltd [UGSIL] has been granted ISO-14001-2004 certification for the manufacture and sale of sugar and its by-products.
The Board of Directors of UGSIL at its meeting held on the 21st September, 2007 approved the Audited Financial Results for the year ended 30th June, 2007. |
| FINANCIALS AT A GLANCE |
| ( Rs. in lacs ) |
| Particulars |
Year ended 30.06.07 |
Year ended 30.06.06 |
| Gross Sales |
35225.82 |
44330.68 |
| Profit/(Loss)Before Depreciation and Tax (PBDT) |
(3149.98) |
5668.29 |
| Net Profit / (Loss) |
(2826.13) |
2862.29 |
| EPS (Rs.) |
(25.15) |
40.66 |
|
|
UGSIL reported a loss after tax of Rs. 2826.13 lakhs on a turnover of Rs 35225.82 lakhs for the year ended 30th June, 2007.
The sugar industry is facing a financial crisis due to the glut in the demand-supply gap created because of bumper production and a steep decline in the sugar prices. However, the Company’s policy of concentrating on co-products such as ethanol and co-generation of power will give further stability to its operations since the Government is working ways to make ethanol blending mandatory.
Capital Projects:
The expansion programme of Seohara Distillery from 55 Kilo Litres per day (KLPD) to 100 KLPD along with a co-gen power plant of 24 MW at a capital expenditure of Rs. 136.50 crores has been successfully completed during the year.
The expansion of crushing capacity at Sidhwalia from 2,500 TCD to 5,000 TCD with a co-gen power plant of 18 MW capacity at Rs. 125.00 crores and the increase of crushing capacity at Hasanpur from 1,750 TCD to 5,000 TCD at Rs. 130.00 crores is progressing as per schedule.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded having a 52 week high of Rs. 155. |
| For further information, please contact: |
Ms. Swati Saha/ Ms. Neha Giria
Communications 2.0
Ph- 9874195069/ 9831555274 |
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