EID Parry Improves Operational Performance

 

Chennai, 30 April 2013: EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, and part of the USD 4.4billion Murugappa Group, posted sustained performance for the Quarter ended 31st March 2013.

The standalone turnover of EID Parry for the Quarter was 634.69 Crores (Corresponding quarter of Previous Year: 462.37 Crore), with an EBITDA of 156.63 Crore (Corresponding quarter of Previous Year: Profit of 179.67 crores). The stand alone for the Quarter includes the full year numbers of Haliyal & Sankili, the demerged units of Parry Sugar Industries Limited (PSIL).

The consolidated turnover for the quarter ended 31st March 2013 was
2599.26 Crore (PY:3585.28 crore) and Profit after Tax before Minority Interest was 94.66 Crore (PY: Profit of 172.37 Crore).

Sugar Division

The performance of Sugar division during the Quarter and for the financial year is as follows.

2012-13 2011-12
EID (TN)
PSIL
Demerged
Units

Total EID (TN)
PSIL
Demerged
Units

Total
Cane Crushed –
MT in Lakhs:
For the Quarter

14.05

5.58

19.63

15.36

5.8

21.16

For the Year

53.25

11.94

65.19

48.02

11.07

59.09

Distillery production – Litres in Lakhs
For the Quarter

111

75

186

91

66

157

For the Year

468

186

654

398

186

584

The Consolidated Sugar operations reported a Profit of 163.34 crore (PY: Profit of 158.35 crore) at the PBIT level for the quarter.

Bio-products

Bio-products Division (comprising of Bio-Pesticides and Nutraceuticals) registered a PBIT of 12.18 Crore (PY: 6.40 Crore) for the quarter.

Farm Inputs

During the quarter, Farm Inputs Division registered a gross income from operations of 2079.53 Crore as against 2737.53 Crore in the corresponding quarter of the previous year.

The Farm Inputs Division reported a profit (PBIT) of 80.59 Crore for the current quarter ended 31st March 2013, as compared with 154.33 Crore in the corresponding quarter of the previous year 2011-12.

About E.I.D. – Parry (India) Limited

E.I.D. Parry is a significant 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 99% stake in Silkroad Sugar Private Limited, 93.52% stake in US Nutraceuticals LLC, USA with 100% voting rights, a 100% 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 34750 Tonnes of Cane per day, generate 146 MW of power and four distilleries having a capacity of 230 KLPD. 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 the Murugappa Group

Founded in 1900, the 22314 Crores (USD 4.4 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including ten 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., E.I.D. 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, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 5 continents.

Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.