Chennai, 30 July 2014 : EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, has reported financial results for the quarter ended 30th June 2014.
Consolidated performance for the quarter ended 30th June 2014 :
The consolidated turnover for the quarter ended 30th June 2014, was 2,547 Crore registering a growth of 8.75% in comparison to the corresponding quarter of previous year of
2,342 Crore. Profit before depreciation, interest and taxes (EBITDA) and before exceptional item for the quarter ended 30th June 2014 was
167 Crore registering a growth of 68% in comparison to the corresponding quarter of previous year of
99 Crore. Consolidated loss after tax and minority interest was
44 Crore compared to
108 Crore in corresponding quarter of previous year.
Standalone performance for the quarter ended 30th June 2014 :
The Standalone turnover for the quarter ended 30th June 2014 was 633 Crore in comparison to the corresponding quarter of previous year of
403 Crore. Profit before depreciation, interest and taxes (EBITDA) and before exceptional item for the quarter ended was
43 Crore in comparison to the corresponding quarter of previous year of
4 Crore. Standalone loss after tax for the quarter is
27 Crore. as against corresponding quarter of previous year
72 Crore.
Sugar Division
The Consolidated Sugar operations reported a Loss before Interest and Tax of 5 Crore (corresponding quarter of previous year:
64 Crore) for the quarter.
Farm Inputs Division
The Consolidated Farm Input operations reported a Profit before Interest and Tax of 112 Crore (corresponding quarter of previous year:
101 Crore) for the quarter.
Bio-products
For the quarter, Bio-products Division (comprising Bio-Pesticides and Nutraceuticals) registered a Loss before Interest and Tax of 5 Crore (corresponding quarter of previous year of Profit before Interest and Tax of
2 Crores).
The Board of Directors have approved a scheme of amalgamation for amalgamating Parry Phytoremedies Private Limited, a wholly owned subsidiary, with the Company effective from 1st April, 2014, subject to various statutory and regulatory approvals.
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 and a 65% stake in Parrys Sugar Industries Limited.
EID Parry, together with its subsidiaries, has nine sugar factories having a capacity to crush 37550 Tonnes of Cane per day, generate 153 MW of power and four distilleries having a capacity of 230KLPD. 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 INR 243 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eleven listed Companies 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., Sabero Organics Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilisers, 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.
Caution Notice
The public is hereby cautioned that it has been brought to our notice that certain unscrupulous persons/agencies are issuing fake sanction letters to customers and getting their signatures in fake loan agreements purporting to be a loan sanction letter & loan agreement of Murugappa Group and such persons /agencies are attempting to extort money by demanding security deposit/processing fee/insurance fee from the gullible customers for processing the required loan etc. In the aforesaid documents, those unscrupulous persons/agencies are also using the registered logo and name of Murugappa Group against law with intent to gain wrongfully by using the goodwill and reputation of the Group.
Please be informed that Murugappa Group is not a separate legal entity and never requires any customers to pay any advance money or deposit for loan sanctioning. Public is cautioned not to rely or act on any such fraudulent sanction/offer made in the name of Murugappa Group without verifying the authenticity of the contents.
Customers who are interested in availing loans may directly contact any of the nearest branch of Cholamandalam Investment and Finance Company Limited (Cholamandalam) a constituent of our group for further details or get in touch with us at 1800 200 4565 or alternatively email at customercare@chola.murugappa.com, or SMS at 9500000312.
MURUGAPPA GROUP