BUSINESS PROFILE :
Shree Renuka Sugars, incorporated in 1995, is an integrated manufacturing company with strategic focus on sugar and its allied products in power and ethanol. The company has a capacity of 2,500 TCD and 20.5 MW power at its key manufacturing facility at Munoli, Karnataka. Besides, the company also has sugar manufacturing capacity of 2,500 TCD at each of its two leased facilities at Ajara and Mohannagar in Maharashtra.
SRSL has the largest sugar refinery in the country with a capacity of 1,000 TPD. The refinery has an MoU for technical assistance with Tate & Lyle of UK, Europe`s largest sugar refiner. The company manufactures EC II grade refined sugar conforming to European standards with negligible sulphuric content. Refined sugar is preferred by industrial buyers and generally commands premium over plantation white sugar. Corporate sales constitute more than two-third of the company`s total sugar sales to customers like Coca-Cola, Nestle, Cadbury, etc. The company`s merchant export division is the second largest sugar exporter out of India.
SRSL plans to set up a sugar refinery worth Rs 2.5 billion at Haldia in West Bengal. Of this, around Rs 1 billion would be on a 25-MW coal-fired power plant. The refinery with capacity of 2,000 metric TPD will be the single largest sugar manufacturing plant in India. It is expected to be commissioned by March 2007.
SRSL has recently approved increasing the limit of investment by foreign institutional investors (FIIs) up to 49% of the issued and paid-up capital of the company. It also increased the borrowing powers of the board up to Rs 12 billion.
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