E.I.D. – PARRY (INDIA ) LIMITED Announces Un-Audited Financial Results For The Quarter Ended December 31, 2009
Chennai, January 29, 2010: The turnover of E.I.D.-Parry (India) Limited for the quarter ended 31st December, 2009 was Rs. 351.66 Crore (Previous year: Rs.74.73 crore). Gross operating profit for the quarter was Rs. 50.07 crore(Gross operating loss of Rs. 29.31 crore) after absorbing depreciation of Rs. 17.35 crore (Rs. 12.62 crore). After absorbing interest cost of Rs. 10.61 crore (Rs. 5.95 crore) and considering Other Income of Rs. 5.29 crore (Rs. 13.88 crore), the Profit Before Tax for the quarter was Rs. 44.75 crore (Loss of Rs. 21.38 Crore). The Profit After Tax for the quarter stood at Rs. 34.05 crore (Loss of Rs. 16.45 crore).
The turnover of E.I.D.-Parry (India) Limited for the three quarters ended 31st December, 2009 was Rs.827.01 Crore(Rs.529.98 crore). Gross operating profit for the three quarters ended 31st December, 2009 was Rs. 118.18 crore (Gross operating loss of Rs. 12.45 crore) after absorbing depreciation of Rs. 51.45 crore (Rs. 37.05 crore). After absorbing interest cost of Rs. 29.58 crore (Rs. 21.34 crore) and considering Other Income of Rs. 50.34 crore(Rs. 64.83 crore) and exceptional item of Rs. NIL(Rs.749.18 crore) the Profit Before Tax for the three quarters ended was Rs. 138.94 crore (profit of Rs. 780.22 Crore). The Profit After Tax for the three quarters ended stood at Rs. 100.48 crore (Profit of Rs. 598.21 crore).
The consolidated turnover for the quarter ended 31st December, 2009 was Rs. 2109.94 crore (Rs. 3800.51 crore). The Profit after Tax for the quarter stood at Rs. 171.17 Crore (Rs. 114.59 crore).
The consolidated turnover for the three quarters ended ended 31st December, 2009 was Rs. 5857.86 crore (Rs. 9046.12 crore). The Profit after Tax for the three quarters ended stood at Rs. 439.29 crore (Rs. 1071.38 crore).
Sugar Division
During the quarter, sugar production was 25306 MT(10731 MT). The company exported 405 lakh units (96 lakh units) of power to Grid.
The Sugar Segment reported a profit of Rs 54.58 crore for the quarter (Loss of Rs. 22.17 crore). The loss from the Cogeneration Segment for the quarter was Rs 4.24 crore(Rs 5.40 crore).
Bio-Products Division
The Bio-pesticides Segment reported a profit of Rs 1.82 crore (Rs. 0.93 crore) for the quarter and the Nutraceuticals Segment reported a profit of Rs.0.50 crore (Rs 0.05 crore), which aggregated to profit of Rs.2.32 Crore (Rs.0.98 Crore) for the Bio-Products division.
Acquisition Of Controlling Stake
As part of the growth strategy for the Sugar business, EID Parry (India) Limited, has acquired a 76% stake in the Equity of M/s Sadashiva Sugars Limited based in Bangalore with its factory at Bagalkot, Karnataka, during the month of October 2009.
Dividend
The Board of Directors is pleased to declare an interim Dividend of Rs.6/- per equity share (300%).
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 48% stake in US Nutraceuticals LLC,USA and a 76% stake in Sadashiva Sugars Limited.
EID Parry has five sugar factories having a capacity to crush 19000 Tonnes of Cane per day, generate 85 MW of power and two distilleries having a capacity of 100 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
Headquartered in Chennai, the Rs. 15,907 crores (USD 3.14 billion) Murugappa Group is one of India’s leading business conglomerates. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, its 29 companies have manufacturing facilities spread across 13 states in India. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. The Group has forged strong joint venture alliances with leading international companies like DBS Bank, Mitsui Sumitomo, Cargill, Foskor and Groupe Chimique Tunisien has consolidated its status as one of the fastest growing diversified business houses in India.
