EID Parry Post Strong Performance

 

Chennai, 25 April 2012: EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, posted robust financial and operating performance for the Quarter and year ended 31st March 2012.

The standalone turnover of EID Parry for the Quarter was Rs. 462.37 crores (Previous Year Rs. 414.16 Crore), with a Profit after Tax of Rs. 143.11 crores (Rs. 160.96 crore). The standalone turnover of EID Parry for the year 2011-12 is Rs. 1526.49 Crore (Rs. 1255.69 Crore) and Profit after Tax of Rs. 137.32 Crore (Rs. 79.26 Crore), a growth of 73% over previous year.

The consolidated turnover for the quarter ended 31st March, 2012 was Rs. 3585.28 crore (Previous Year Rs. 1840.77 crore) and Profit after Tax before Minority Interest of Rs. 172.37 Crore (Rs. 145.65 Crore). The consolidated turnover for the year ended 31st March, 2012 was Rs. 12355.48 crore (Rs. 9230.77 crore) and Profit after Tax before Minority Interest is Rs. 526.60 crore (Rs. 555.04 crore).

Sugar Division

EID Parry crushed 15.36 lakh MT of sugarcane (Previous Year 13.56 Lakh MT) during the Quarter and 48.02 lakh MT (28.36 Lakh MT) during the year 2011-12, registering a growth of 69%. The consolidated sugarcane crushing is 26.95 lakh MT (22.58 Lakh MT) for the Jan to March ’12 Quarter and 69.11 lakh MT (42.83 Lakh MT) for the year, registering a growth of 61%.

EID Parry exported Power of 1020 lakh units (Previous Year 995 Lakh units) for the quarter and 3427 lakh units (3147 units) for the year. The consolidated Power export was 1579 lakh units (1464 Lakh units) for the current quarter and 4481 lakh units (4287 Lakh units) for the year, registering a growth of 5% over previous year.

The Consolidated Sugar Division reported a profit of Rs. 158.35 crore for the quarter (Profit of Rs. 92.70 crore) and Rs.93.46 crore (Loss of Rs. 40.72 Crore) for the year 2011-12.

Bio-products 

Bio-products Division (comprising of Bio-Pesticides and Nutraceuticals) at a consolidated level registered a profit of Rs. 6.40 Crore (PY: Rs. 5.25 Crore) for the quarter and Rs. 9.23 Crore (Previous Year 5.84 Crore) for the year 2011-12.

Farm Inputs

During the quarter, Farm Inputs Division registered a gross income from operations of Rs. 2,737.53 Crore as against Rs. 1178.57 crore in the corresponding quarter of the previous year.

The Farm Inputs Division reported a profit (PBIT) of Rs. 154.33 Crore for the quarter as compared with Rs. 100.63 Crore in the corresponding quarter of the year 2010-11.

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 50% stake in Silkroad Sugar Private Limited, a joint venture with Cargill, 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 32500 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 Rs. 17051 Crores (USD 3.8 billion) (as of 31 March 2011) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eight 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, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Cargill, Mitsui Sumitomo and Morgan Crucible. The Group has a wide geographical presence spanning 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 Media queries, please contact:

P. Gopalakrishnan,
Vice-President (Finance),
E.I.D. – Parry (India) Limited,
Dare House,
234 NSC Bose Road,
Chennai – 600 001.
Tel: +44 – 2530-6789
Email: gopalakrishnan@parry.murugappa.com
Website: www.eidparry.com