Chennai, 30 January 2013: EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, posted performance for the Quarter ended 31st December 2012.
The standalone turnover of EID Parry for the Quarter was Rs. 250.70 Crores (Corresponding quarter of Previous Year: Rs. 251.98 Crore), with an EBITDA of Rs. 11.03 Crore (Corresponding quarter of Previous Year: Loss of Rs.14.59 crores).
The consolidated turnover for the quarter ended 31st December, 2012 was Rs. 2773.87 Crore (PY: Rs. 2978.14 crore) and Profit after Tax before Minority Interest of Loss of Rs.20.37 Crore (PY: Profit of Rs. 42.49 Crore).
EID Parry crushed 8.26 lakh MT of sugarcane (PY: 6.94 Lakh MT) during the quarter, registering a growth of 19%.
During the quarter, Distillery production was 121 Lakh Ltrs (Corresponding quarter of previous year : 83 Lakh Ltrs), registering a growth of 46% over previous year.
As a standalone entity, the Company’s Sugar Division reported a Loss of Rs.19.27 Crore (PY: Loss of 32.81 Crore) at PBIT level.
The Consolidated Sugar operations reported a Loss of Rs. 54.97 crore (PY: Loss of Rs. 36.68 crore) at the PBIT level for the quarter.
Bio-products Division (comprising of Bio-Pesticides and Nutraceuticals) registered a PBIT of Rs. 3.46 Crore (PY: Rs. 1.65 Crore) for the quarter.
During the quarter, Farm Inputs Division registered a gross income from operations of Rs. 2424.47 Crore as against Rs. 2561.70 Crore in the corresponding quarter of the previous year.
The Farm Inputs Division reported a profit (PBIT) of Rs. 124.60 Crore for the current quarter ended 31st December 2012, as compared with Rs. 216.74 Crore in the corresponding quarter of the previous year 2011-12.
The Board of Directors at their Meeting held on 30th January, 2013,have declared an Interim Dividend of Rs. 6/- per equity share (600% on face value of Re.1/- each) fully paid on the equity capital for the financial year ending 31st March, 2013.
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 Rs. 22314 Crores (USD 4.4 billion) 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, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Cargill, 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.