Chennai, 30 July 2013: EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, reported financial results for the Quarter ended 30th June 2013.
The standalone turnover of EID Parry for the Quarter was 403.13 Crore (Corresponding quarter of Previous Year:
576.46 Crore), with an Net Loss after tax of
72.31 Crore (Corresponding quarter of Previous Year: Net Profit after tax of
22.47 Crore).
The consolidated turnover for the quarter ended 30th June 2013 was 2341.70 Crore (Corresponding quarter of Previous Year:
2666.27 Crore) and Loss after Tax before Minority Interest of
103.08 Crore (Corresponding quarter of Previous Year: Profit of
106.01 Crore).
Sugar Division
The Consolidated Sugar operations reported a Loss of 63.88 Crore (Corresponding quarter of Previous Year: Profit of
39.54 Crore) at the PBIT level for the quarter. Cane availability was affected during the quarter due to drought condition in some of the factory areas. The overall recovery and yield for the quarter was below average.
Bio-products
Bio-products Division (comprising of Bio-Pesticides and Nutraceuticals) registered a PBIT of 1.58 Crore (Corresponding quarter of Previous Year: Loss of
0.57 Crore) for the quarter.
Farm Inputs
During the quarter, Farm Inputs Division registered a net income from operations of1897.21 Crore as against
1842.76 Crore in the corresponding quarter of the previous year.
The Farm Inputs Division reported a profit (PBIT) of 100.67 Crore for the current quarter ended 30th June 2013, as compared with
212.2 Crore in the corresponding quarter of the previous year.
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 Murugappa Group
Founded in 1900, the INR 225 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, Fertilizers, 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