Prudential Sugar Corporation Ltd

Prudential Sugar Corporation Ltd

Prudential Sugar Corporation Ltd was incorporated on December 03 1990 as a public limited company with the name Sugantham Sugars. The company is a part of Prudential group of companies. They are engaged in the manufacture of white crystal sugar. The company got their present name in December 1993.The company is having a fully integrated manufacturing unit at Chittoor in Andhra Pradesh with an installed capacity of 2500 TCD. They are also having a facility for power co-generation. The company also exports sugar to many other countries and has achieved international standardization.In November 1994 the company came out with their initial public offering of 32 lakh equity shares aggregating Rs 3.2 crore and 25.86 lakh 16% PCDs of Rs 50 aggregating Rs 12.93 crore to part-finance the project for manufacturing white crystal sugar.During the year 2005-06 the company divested off the investment in their subsidiary companies namely Prudential Ammana Sugars Ltd and Prudential Tirumala Sugars Ltd since the investment is not yielding any returns.The company is planning for expansion to 5000 TCD with a co-generation of 18 MW by 2008-2009 season. They propose to construct a 60 KL per day capacity distillery/ ethanol unit. They also plan to increase cane area under micro irrigation system to face drought in future and optimize planting geometry by introducing paired row systems in planting cane.