THIRU AROORAN SUGARS LTD: THE PLACEBO TEST
Article Abstract:
Thiru Arooran Sugars Ltd (TASL) has invested in power co- generation and industrial alcohol as part of its diversification programme. The power co-generation plant has a capacity of 46 mw. It uses bagasse from its two sugar factories in Vadapathimangalam and Thirumandangudi in Tamil Nadu. The distillery unit produces 60 kilo litres of industrial alcohol per day. TASL has a capacity of 7,500 tonnes crushed per day (tcd). It plans to increase its capacity by 5,000 tcd by setting up two more plants. It has relocated its Vadapathimangalam plant to another location. The relocated facility has a capacity of 2500 tcd and was commissioned in 1997. It has invested Rs120 crore for diversification and capacity addition. In 1996-97, it posted a net profit of 4.39 crore on a sales of Rs130.64 crore. TASL is focusing on reducing the cost of the loans to 15 percent. It plans to implement new ventures through its subsidiary, Shree Ambika Sugars Pvt Ltd (SASPL). SASPL will set up a third sugar factory at Thiruvidaimarudur with a capacity of 2500 tcd. The fully automated facility is likely to be commissioned in December 1998. TASL plans to acquire Aruna Sugars. (rk)
Comment:
Puts investments in power co-generation & industrial alcohol as part of diversification program
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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THIRU AROORAN SUGARS DOUBLES NET PROFIT TO Rs9.21 CRORE
Article Abstract:
Thiru Arooran Sugars Ltd, Chennai has declared a dividend of 25 percent for 1997-98. ------------------------------------------------------------ Thiru Arooran Sugars Ltd: Financial Results (Rs in lakh) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Net Sales 124.89 103.54 ------------------------------------------------------------ Interest Charges 18.28 10.08 ------------------------------------------------------------ Gross Profit 35.90 20.25 ------------------------------------------------------------ Depreciation 7.99 5.77 ------------------------------------------------------------ Net Profit 9.21 4.39 ------------------------------------------------------------ Equity 10.75 NA ------------------------------------------------------------ Surplus And Reserves 87.69 81.13 ------------------------------------------------------------ The sugar division posted Rs80 crore in sales, alcohol earned Rs18 crore and power brought in Rs26 crore. It crushed 843,000 tonnes of cane sugar at a recovery rate of 7.78 percent. (rk)
Comment:
Posts net profit of Rs9.21 lakh in 1997-98, declares 25% dividend
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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THIRU AROORAN SUGARS SET TO ACQUIRE ARUNA SUGARS' PLANT
Article Abstract:
Thiru Arooran Sugars Ltd (TASL) of Chennai is likely to bag the deal of acquiring the 5,000 tcd sugar plant of Aruna Sugars & Enterprises Ltd (ASEL). The deal price will be in the range of Rs95 crore and Rs105 crore. EID Parry (India) Ltd (EID) of Murugappa group had also made a bid for acquiring ASEL's plant with an initial offer of Rs87.5 crore. TASL will be a strong contender for the deal as it has support of financial institutes led by ICICI. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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