 PRESS RELEASE |
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Upper Ganges Sugar & Industries Limited declares its 2nd Quarter Financial Results for the quarter ended 31st December 2007.
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Kolkata, 28th January, 2008: 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. 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 28th January, 2008 took on record the 2nd Quarterly Financial Results for the period ended 31st December, 2007. |
| FINANCIALS AT A GLANCE |
| ( Rs. in lacs ) |
| Particulars |
2nd quarter ended 31.12.2007 |
2nd quarter ended 31.12.2006 |
Year ended 30.06.2007
(Audited) |
| Turnover |
8939.69 |
8807.33 |
35225.82 |
| Profit/(Loss) before Depreciation, and Tax (PBDT) |
174.95 |
480.09 |
(3149.98) |
| Profit/(Loss) After Tax |
(167.57) |
194.73 |
(2826.13) |
| EPS (Rs.) |
(1.45) |
1.68 |
(25.15) |
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Upper Ganges reported an increase in turnover by 1.50% at Rs. 8939.69 lakh and a net loss of Rs. 167.57 lakh for the quarter ended 31st December, 2007 as against a turnover of Rs.8807.33 lakh and a net profit of Rs. 194.73 lakh during the quarter ended 31st December, 2006.
The sugar industry is going through a crisis phase primarily because of the low sugar prices. The dip in profitability for this quarter can be attributed to the above factors. However, the Company’s strategic initiative of diversifying into the production of co-products such as ethanol and power will provide stability to its operations.
Capital Projects:
The Company's expansion of crushing capacity of Bharat Sugar Mills, Sidhwalia (Bihar) from 2500 TCD to 5000 TCD with a sulphur free Sugar Refinery and a Co-generation plant of 18 MW will come into production during the current quarter. |
| For further information, please contact: |
Communications 2.0
Ms. Swati Jalan / Ms. Sayantani Banerjee
Ph- 9830111376 / 9831236730 |
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