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EID Posts Robust improvement in Performance
The consolidated turnover for the quarter ended 30th September, 2011 was Rs. 3,303.13 Crore (Rs. 3,065.91 Crore). The Profit After Tax before Minority Interest for the quarter stood at Rs. 216.24 Crore (Rs. 297.45 Crore). Sugar Division During the quarter ended 30th September 2011, Crushing of cane was higher by 59% at 12.77 lakh MT compared to 8.02 lakh MT in the corresponding quarter of 2010-11. During the quarter, sugar production was 43% higher at 1,07,484 MT ( PY: 74,808 MT) and the sale of sugar for the quarter was 38% higher at 108561 MT ( PY: 78606 MT) as compared with corresponding quarter of 2010-11. The Co-generation and Distillery performance grew by 25% and 84% respectively compared to corresponding quarter of the previous year. Bio-products The Bio-products Division (comprising of Bio-Pesticides and Nutraceuticals) profits were at Rs. 2.14 Crore for the quarter (PY: Rs. 2.66 Crore). Farm Inputs During the quarter, Farm Inputs Division registered a gross income from operations of Rs. 2,711.46 Crore as against Rs. 2,773.36 crore in the corresponding quarter of the previous year. The Farm Inputs Division reported a profit (PBIT) of Rs. 411.65 Crore for the quarter as compared with Rs. 537.67 Crore in the corresponding quarter of the year 2010-11. Investment in Subsidiaries During the quarter ended 30th September 2011, the company has increased its stake in Sadashiva Sugars Ltd from 76% to 100%. On 4th October 2011, the company has acquired additional stake in US Nutraceuticals LLC from 51% to 93.52%, increasing the voting power to 100%. 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, 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 Murugappa Group Founded in 1900, the Rs. 17051 Crores (USD 3.8 billion) Murugappa Group is one of India's leading business conglomerates. The Group has 29 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 further information, please
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