Chennai, 28th January, 2011: The consolidated turnover for the quarter ended 31st December, 2010 was Rs.2454.12 crore (Rs. 2109.94 crore). The Profit After Tax before Minority Interest and Share of Associate for the quarter stood at Rs. 63.35 Crore (Rs. 171.17 Crore).
The consolidated turnover for the three quarters ended 31st December, 2010 was Rs. 7390.00 crore (Rs. 5857.86 crore). The Profit After Tax before Minority Interest and Share of Associate for the three quarters ended stood at Rs. 409.39 crore (Rs. 439.29 crore).
Sugar Division (including Subsidiaries)
During the quarter, 6.12 lakh tonnes of cane was crushed as compared to 1.44 lakh tonnes in the corresponding period of 2009-10.
During the quarter, sugar production was 58413 MT(28495 MT) (including processing of raw sugar).
The Power exported was 662 lakh units to the Grid compared to 449 lakh units for the corresponding period of 2009-10.
The Sugar business reported a loss of Rs. 30.65 crore for the quarter (Profit of Rs. 52.09 crore).
The Bio-products Division (comprising of Bio-Pesticides and Nutraceuticals) reported a profit of Rs. 0.33 crore for the quarter (Rs.2.19 crore).
During the quarter, Farm Inputs Division registered a gross income from operations of Rs. 2023.20 Crore as against Rs. 1774.88 crore in the corresponding quarter of the previous year.
The Farm Inputs Division reported a profit of Rs. 238.07 Crore for the quarter as compared with Rs. 228.86 Crore in the corresponding quarter of the year 2009-10.
Appointment of Managing Director
The Board of Directors appointed Mr. Ravindra S Singhvi as an Additional Director and Managing Director of the company for a period of 5 years effective 29th January 2011. Mr. K. Raghunandan, consequent to a new assignment in the Group, stepped down from the office of Managing Director effective from close of office hours of 28th January 2011.
Subdivision of Equity Shares
Effective from 24th December 2010, the company has subdivided the nominal value of equity shares from Rs. 2 per share to Re.1 per share.
About E.I.D. – Parry (India) Limited
E.I.D. Parry is a dominant player in Sugar with interests in promising areas of Bio Pesticides and Nutraceuticals. E.I.D Parry was incorporated in 1975. The company also has a significant presence in Farm Inputs business through its subsidiary, Coromandel International Limited. EID Parry has a 50% stake in Silkroad Sugar Private Limited, a joint venture with Cargill, a strategic 51% stake in US Nutraceuticals LLC, USA, a 76% stake in Sadashiva Sugars Limited and a 65% stake in Parrys Sugar Industries Limited.
EID Parry together with its subsidiaries has nine sugar factories having a capacity to crush 32500 Tonnes of Cane per day, generate 146 MW of power and four distilleries having a capacity of 230KLPD. In the Bio Pesticides business, the Company offers a unique neem extract, Azadirachtin, having a good demand in the developed countries’ bio pesticide markets. In the Nutraceuticals business, it holds a strong position in the growing wellness segment mainly catering to the world markets with its organic products.
About Murugappa Group: Founded in 1900, the Rs.13617 Crores (USD 3.03 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including seven listed companies actively traded in NSE & BSE. Headquartered in Chennai, the major companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd, Coromandel International Ltd, Coromandel Engineering Company Ltd, EID Parry (India) Ltd, Parry Agro Industries Ltd, Tube Investments of India Ltd and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Mitsui Sumitomo, Foskor, Cargill, Groupe Chimique Tunisien, Winterthur Technology Group and Morgan Crucible. The Group has a wide geographical presence panning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.
For any clarifications please contact Mr. P. Gopalakrishnan, Vice-President ( Finance), E.I.D. – Parry (India) Limited, Ph No +44 – 2530-6789
For further information, please contact:
Vinod Kumar /Diya Kinger
Ogilvy Public Relations Worldwide, Chennai
Mobile :98401 26179 / 8939623044