 PRESS RELEASE |
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| Upper Ganges Sugar & Industries Ltd declares Financial Results for its 3rd Quarter and nine months period ended 31st March, 2006 |
| Kolkata, April 29, 2006 |
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PAT up by 91.67% in the nine months period ended 31st March, 2006 at Rs. 2702.04 lacs as compared to Rs. 1409.73 lacs for the corresponding nine months period. |
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PBT up by 123.20% in the nine months period ended 31st March, 2006 at Rs. 4486.79 lacs as compared to Rs. 2010.21 lacs for the corresponding nine months period. |
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Gross Sales increase by 16.17% in the nine months period ended 31st March, 2006 at Rs.33807.61 lacs as compared to Rs. 29101.80 lacs for the corresponding nine months period. |
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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 29th April, 2006 took on record the Unaudited Financial Results (Provisional) for the 3rd quarter ended 31st March 2006. |
| FINANCIALS AT A GLANCE |
| ( Rs. in lakhs ) |
| Particulars |
3rd quarter ended 31st March 2006 |
3rd quarter ended 31st March 2005 |
Percentage Change |
Nine months ended 31.03.2006 |
Nine Months ended 31.03.2005 |
Percentage Change |
| Gross Sales |
11,826.56 |
12,559.65 |
(5.84) |
33,807.61 |
29,101.80 |
16.17 |
| Profit before Tax (PBT) |
1,869.74 |
1,223.39 |
52.83 |
4,486.79 |
2,010.21 |
123.20 |
| Net Profit |
999.07 |
1,056.36 |
(5.42) |
2,702.04 |
1,409.73 |
91.67 |
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Profit for the third quarter ended 31st March, 2006 before tax (PBT) increased by 52.83% at Rs. 1869.74 lacs as against Rs.1223.39 lacs, profit after tax decreased by 5.42% at Rs. 999.07 lacs as against Rs. 1056.36 lacs and Gross Sales was also lower by 5.84% at Rs. 11826.56 lacs as against Rs. 12559.65 lacs for the corresponding previous quarter.
Reflecting on the performance of the Company, Mr. C.S Nopany, Director, Upper Ganges Sugar & Industries Ltd. said, “Our Company has performed relatively well for the third quarter and nine months period ended 31st March, 2006 despite abnormal increase in cost of raw materials and sluggish demand during this quarter. We have seen a revival in sugar prices in April and forsee steady prices in the medium term. We, at UGSIL, constantly strive to offer our stakeholders maximum returns on their investment through ongoing infrastructural up gradation and expansion initiatives”.
Expansion Projects:
The expansion of the 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 likely to go on stream at the beginning of the calendar year 2007.
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 and is expected to commence production at the enhanced capacity from December, 2006.
About UGSIL:
Upper Ganges Sugar & Industries Ltd. (UGSIL) is a leading player in the Sugar Industry. Since its inception in 1932, UGSIL has grown by vast measures and is now ranked one of the best in the country. The Company has rapidly grown from a single unit to, three sugar manufacturing units with an aggregate crushing capacity of about 15,500 tonnes of sugarcane per day, Distillery having a capacity of 55 klpd of industrial alcohol/ethanol, a Bio-Compost plant producing organic fertilizer and a Tea Garden.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded having a 52 week high of Rs. 482.00. |
For further information please contact:
Swati Jalan
Communications 2.O
Ph: 2289-2636 / 32954039 |
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