Shree Renuka Sugars

Shree Renuka Sugars
Type Public (BSE: 532670NSE: RENUKA)
Industry Sugar
Founded 1998 [1]
Founder(s) Narendra Murkumbi & Vidya Murkumbi [1]
Headquarters Mumbai, Maharashtra, India
Area served Belgaum
Key people Narendra Murkumbi, MD [2]
Revenue 2,239.80 crore (US$425.56 million) [3]
Profit 143.50 crore (US$27.27 million)[3]
Owner(s) Narendra Murkumbi
Website Official Website

Shree Renuka Sugars(BSE: 532670NSE: RENUKA) is India's largest sugar refiner and ethanol producer based in Mumbai, Maharashtra,[4] with refining capacity of 4000 tonnes/day[5] and distillery capacity of 600 Kilo liter/day.[6] It has 21% market share in India's fuel ethanol market and has an aggressive growth plan of increasing its ethanol production capacity to 900 Kilo liter/day by Dec 2009.[7] It also accounts for 20% of India's international sugar trade.

Acquisitions

on 24 February 2010, Shree Renuka Sugars (SRSL) has signed a deal with Grupo Equipav for an investment of BRL600m leading to a majority, controlling equity stake in Equipav Acucar e Alcool (Equipav), a sugar/ethanol company in Brazil.The deal is subject to approval of an acceptable debt restructuring package by the lenders to the company and certain other conditions customary to such transactions. Closing is expected in 40 days.[8] Shree Renuka Sugars creates one of the largest Sugar/Ethanol Groups in Brazil with Equipav Deal.[9] Indian credit rating agency ICRA has maintained the long term rating of [ICRA]A+ on the company.[10]

Renuka sugars also owns a team in KSCA's Belgaum Premier League T20. The name of the team is Renuka Royals.

References

  1. ^ a b "Companyoverview". Renuka Sugars. http://www.renukasugars.com/show_swf.php?swf=company_overview. Retrieved 2010-10-05. 
  2. ^ Narendra Murkumbi. "See sugar output at 25 MT in '10-11 season: Shree Renuka - CNBC-TV18". Moneycontrol.com. http://www.moneycontrol.com/news/business/see-sugar-output-at-25-mt10-11-season-shree-renuka_488248.html. Retrieved 2010-10-05. 
  3. ^ a b "BSE Plus". Bseindia.com. http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=532670. Retrieved 2010-10-05. 
  4. ^ "Contact Us". Renuka Sugars. http://www.renukasugars.com/show_swf.php?swf=Contact_Us. Retrieved 2010-10-05. 
  5. ^ DomainB.com Hindustan Petroleum, Shree Renuka Sugars to jointly set up integrated sugar, ethanol plant
  6. ^ Annual report 07-08 Page 9
  7. ^ Annual report 07-08 Page 3
  8. ^ "Shree Renuka to acquire majority stake in Brazilian sugar firm". 24 February 2010. http://www.newstatesman.com/business-food-and-drink/2010/02/sugar-ethanol-equipav-brazil. Retrieved 25 February 2010. 
  9. ^ "Shree Renuka Sugars creates one of the largest Sugar/Ethanol Groups in Brazil with Equipav Deal". renukasugars. 24 February 2010. http://www.renukasugars.com/upload/4b81601dbeb38_srsl_equipav_press_release_21_feb_2010.pdf. Retrieved 25 February 2010. 
  10. ^ "ICRA has reaffirmed the long-term rating of [ICRAA+ (pronounced ICRA A plus) and short-term rating of [ICRA}A1+ (pronounced ICRA A one plus) assigned to the term loans, fund based facilities and non-fund based facilities aggregating to Rs. 6731.00 crore of Shree Renuka Sugars Limited"]. renukasugars. 28 September 2011. http://www.icra.in/Files/Reports/CPR/Shree%20Renuka%20Sugars%20CPR.pdf. Retrieved 18 November 2011.