 PRESS RELEASE |
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| Upper Ganges Sugar & Industry Limited declares its 1st quarter Financial Results for the quarter ended 30th September, 2009. |
| Kolkata, 23rd October, 2009 |
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 18,000 tonnes of sugarcane per day, a distillery of 100 KLPD 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-2008 certification for the manufacture and sale of sugar and its by-products by SGS United Kingdom Ltd., U.K.
The Board of Directors of UGSIL at its meeting held on the 23rd October 2009 approved the Unaudited Financial Results for the quarter ended 30th September, 2009. |
| FINANCIALS AT A GLANCE |
| Rs. in lakhs |
| Particulars |
Quarter ended 30.09.09 |
Year quarter 30.09.08 |
| Gross Sales |
9,789.37 |
7,986.46 |
| Profit/(Loss)Before Depreciation and Tax (PBDT) |
382.58 |
(603.81) |
| Net Profit /(Loss) |
(163.71) |
(791.50) |
| EPS (Rs.) (Not annualised) |
(1.42) |
(6.85) |
|
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The season 2008-09 has seen a dramatic fall in sugar production to 14.5 million tonnes, thereby correcting the imbalance in demand and supply position. This fall in production has reduced the inventories to minimum level and India has become a net importer of sugar. This year also saw a sharp increase in sugar prices both domestically and internationally. We expect this trend to continue. The short fall of cane had an adverse impact on the co-generation and ethanol units due to non-availability and high costs of molasses and bagasse.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded at a price of Rs. 90.00. |
For further information please contact:
Ms. Swati Jalan / Ms. Vasudha Jain
Communications 2.0
Ph- 9830111376/ 9831148001 |
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