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Shares of sugar companies, on Monday, were in focus at the bourses, with Balrampur Chini Mills, EID Parry, Dwarikesh Sugar Industries, Dhampur Sugar Mills, and Dalmia Bharat Sugar and Industries rallying up to 7 per cent on improved sector outlook. In comparison, the S&P BSE Sensex was up 0.44 per cent at 50,625 points, at 11:51 am. Last week, Prime Minister Narendra Modi said the target of blending 20 per cent ethanol in petrol advanced to 2025 from 2030 earlier. Ethanol is expected to be a key driver for the sugar industry. The sugar sector has seen structural changes with rational alterations in the government’s policies, and flexibility provided, as diversion of surplus cane and B-heavy molasses is now allowed to produce ethanol that can be used for blending with petrol. In addition, differentiated pricing for ethanol (based on raw material) is quite attractive and has the potential to significantly reduce the cyclical nature of the sector because of the sustainable ....
Read more about EID Parry (India) allots 24,879 equity shares under ESOS on Business Standard. Consequent to said allotment, the issued, subscribed and paid up equity shares capitalof the Company would be increased from Rs. 17,70,76,696 to Rs. 17,71,01,575 ofequity shares of the face value of Re.1/- each. ....
EID Parry (India) Limited, one of the largest manufacturers of sugar in India and part of Murugappa Group, has reported a standalone Profit of Rs 339 Crore during the quarter ended December 31, 2020 as against a loss of Rs 20 Crore during the same period last year. Revenue from operations for the quarter ended December 31, 2020 was Rs 439 crore in comparison to the corresponding quarter of previous year of Rs 437 Crore, a year ago. Consolidated revenue from operations for the quarter ended December 31, 2020 was up 15 per cent at Rs 4,701 crore, from Rs 4,082 crore a year ago. Earning before depreciation, interest and taxes (EBITDA) and before exceptional item for the quarter ended December 31, 2020 was Rs 559 Crore, up 10 per cent over the corresponding quarter of previous year of Rs 509 Crore. Consolidated profit after tax and non-controlling interest was Rs 107 Crore compared to Rs 157 Crore in corresponding quarter of previous year. ....