Incorporated as a private limited company in Dec.'87, SBEC Systems (India) was converted into a public limited company in Jan.'93. It wwas promoted jointly by U K Modi and SBEC Systems, UK. SBEC Systems, UK, which holds a 40% stake also provides the necessary technical expertise. The company was set up as a service organisation for providing engineering and technical management services to the Indian sugar industry. It gradually moved from consultancy services to providing equipment based on their designs on a selective basis. The company came out with a public issue in Nov.'93 to set up a workshop to undertake fabrication/assembling of equipment for sugar industry in Modinagar, Uttar Pradesh. SBEC Systems has promoted a new company under the name of SBEC Sugar in the Meerut district of Uttar Pradesh. During 1996-97 the company's performance suffered a set back compared to the previous year mainly due to delay in commissioning of sugar project of SBEC Sugar Ltd., and Co-generation project of SI-AL SBEC Bioenergy Pvt Ltd. Sugar and Co-generation plants promoted by the company have reported encouraging results during 2000-01.