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Shree Renuka Sugars Ltd.

BSE: 532670 Sector: Agri and agri inputs
NSE: RENUKA ISIN Code: INE087H01022
BSE LIVE 10:01 | 17 Oct 14.41 -0.29
(-1.97%)
OPEN

14.70

HIGH

14.70

LOW

14.40

NSE 09:44 | 17 Oct 14.50 -0.20
(-1.36%)
OPEN

14.35

HIGH

14.60

LOW

14.35

OPEN 14.70
PREVIOUS CLOSE 14.70
VOLUME 65096
52-Week high 22.40
52-Week low 11.47
P/E
Mkt Cap.(Rs cr) 1,362
Buy Price 14.41
Buy Qty 1544.00
Sell Price 14.45
Sell Qty 7486.00
OPEN 14.70
CLOSE 14.70
VOLUME 65096
52-Week high 22.40
52-Week low 11.47
P/E
Mkt Cap.(Rs cr) 1,362
Buy Price 14.41
Buy Qty 1544.00
Sell Price 14.45
Sell Qty 7486.00

Shree Renuka Sugars Ltd. (RENUKA) - Company History

Shree Renuka Sugars Limited (SRSL) is an integrated manufacturing company with strategic focus on Sugar and its allied products in Power and Ethanol. The Company was incorporated on 25th October 1995, key manufacturing facility of the company is in Munoli, Athani & Havalgah, Karnataka and also SRSL operate three leased facilities at Ajara & Arag in Maharashtra and at Aland in Karnataka. SRSL has the largest sugar refining capacity in India of 4000 tons per day (TPD). The sick unit (sugar mill) was taken over by the company from Nizam Sugars Limited during the year 1998 with an existing capacity of 1,250 TCD and land admeasuring 135.552 acres situated at Sudhanagar Sugar Unit, Parigi Mandal, near Hindupur, Ananthapur District, Andhra Pradesh. Subsequent to the aforesaid purchase, transferred all the plant and machinery along with the employees to the Munoli Unit at Belgaum and enhanced the capacity to 2,500 TCD during the year 1999. In same year of 1999, SRSL had started its commercial production of sugar at the Munoli unit and entered into a power purchase agreement with the Karnataka Electricity Board for sale of surplus electricity, being 7.55 MW for an initial period of 10 years from the date of commercial production and a renewal period of 20 years at the rate of Rs. 2.25 per kilowatt hour with escalation at the rate of 5% per annum. An 11.2 MW cogeneration plant of the company was commissioned in the year 2000 for producing electricity from the Bagasse. SRSL had installed a distillery in the year 2002 with a capacity of 60 KL at our Munoli unit for manufacture and production of Ethanol. During the year 2003, the company added an additional turbine and boiler, increased its co-generation capacity of power from 11.2 MW to 20.5 MW. Also SRSL had installed a sugar refinery in the identical year of 2003 at Munoli unit with a capacity of 250 TPD. The Company incorporated and registered Renuka Commodities DMCC as a subsidiary company during the year 2004 in the Free Trade Zone in Dubai, United Arab Emirates to carry on the business of wholesale trading of sugar in the International market. The Unit II at Ajara in Maharashtra and Unit III at Mohannagar in Maharashtra of the company were taken as lease in the year 2004 and 2005 respectively. Initial Public Offering (IPO) of SRCL was released in the year of 2005. The Company plays a significant role in exports/imports due to its coastal position. In 2006, the company had inked a Memorandum of Understanding (MoU) with Brazilian sugar giant. SRSL is the single largest exporter out of India in 2006 -07. SRCL had completed the acquisition of the Ethanol plant of Dhanuka Petro-Chem a division of Dhanuka Cold Storage Pvt Ltd in August of the year 2007 located at Khopoli, Maharashtra for a total consideration of approximately Rs 60 Million. Renuka Sugars formed a new 100% subsidiary company in the name of Shree Renuka Agri Ventures during July of the year 2008 and also acquired 87% stake in Gokak Sugars for the consideration of Rs 693 million in October of the same year 2008. The Company has set-up a subsidiary company viz., SRSL Ethanol Ltd in December 2008 for setting-up of an Integrated Sugar and Ethanol Plant in the state of Maharashtra.