The Hindu Business Line : Simbhaoli Sugar Q4 net up at Rs 6 cr

DR G.S.C. RAO (left), Executive Director, Simbhaoli Sugar Mills Ltd, and Mr Sanjay Tapriya, Director Finance, at a press conference in Mumbai on Thursday. — Paul Noronha

Mumbai , June 1

Simbhaoli Sugar Mills Ltd (SSPL) has reported a 10.94 per cent growth in net revenue of Rs 438.59 crore in the financial year ended March 31, 2006 against Rs 395.33 crore in the previous year.

The company's net profit during the year increased by 149.69 per cent to Rs 29.60 crore compared to Rs 11.85 crore in the previous financial year. During the fourth quarter of the fiscal, the company recorded revenue of Rs 114.60 crore while net profit after tax was at Rs 6.02 crore.

"We have achieved desired growth in turnover and net profit mainly due to improvement of Rs. 120 per quintal of sugar in realisations and concentration on production of value-added products in sugar and alcohol segments. We have made a beginning of selling surplus co-generation power, which will increase significantly in future. We are developing economies of scale in our sugar business, which currently appears well poised due to factors, both domestic as well as international," Dr G.S.C. Rao, Executive Director, SSML, told presspersons, at a press conference held in Mumbai.

"The company has planned a capital outlay of Rs 403.7 crore in the financial years 2005-06 and 2006-07 across all our businesses," said Dr. Rao.

SSML has announced the expansion of the crushing capacity to 20,100 TCD by November 2006.

This would be done by setting up of a new facility at Brijnathpur with crushing capacity of 4000 TCD, which will be the least energy consuming facility in the country.

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