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.
The Board of Directors of UGSIL at its meeting held on the 27th April 2007 took on record the Unaudited Financial Results (Provisional) for the 3rd quarter ended 31st March, 2007.
Particulars
3rd quarter ended 31.03.2007
3rd quarter ended 31.03.2006
Year ended
30.06.2006
Turnover
7344.48
11901.48
44330.68
Profit/(Loss) before depreciation, and Tax (PBDT)
(509.29)
2108.97
5668.29
Profit/(Loss) after Tax (PAT)
(509.31)
999.07
2862.29
UGSIL reported a Loss after tax of Rs. 509.31 on a turnover of Rs.7344.48 lacs for the quarter ended 31st March, 2007.
The margins for the sugar industry have been under pressure during the quarter under review. A sharp increase in cane prices and record sugar production in India resulted in low sugar prices and erosion in profitability. The problem was further aggravated by an unjustified ban on sugar exports by the Government of India. However, the Government of India has now decided to lift the export ban and it is now expected that part of the surplus sugar in the system is likely to move out of the country. The company’s policy of concentrating on co-products such as ethanol and cogeneration of power will give stability to its operations.
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 outlay of Rs. 136.50 crores is progressing as per schedule. 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. 137.67 crores and the increase of crushing capacity at Hasanpur from 1,750 TCD to 5,000 TCD at Rs. 130.00 crores are progressing smoothly. The Board of Directors have, at their meeting held on 27th April, 2007 approved the setting up of a 10 MW cogeneration power plant at Hasanpur within the approved capital outlay of Rs.130 crores for the expansion-cum-mordernisation programme of the unit.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded, having a 52 week high of Rs. 471.
For further information please contact:
Poorvi Poddar / Sneha Bawari
Communications 2.0, Kolkata
32954039 / 22892636
Home
Contact Us
PRESS RELEASE