The Board of Directors of MSEL at its meeting held on 14thAugust, 2017 took on record the Unaudited Financial Results for the first quarter ended30thJune, 2017.
|FINANCIALS AT A GLANCE
|Revenue from operations||16193.69||16342.72|
|Profit (Loss) Before Tax||(1403.08)||629.39|
|Profit (Loss) After Tax||(1383.42)||344.18|
|Total Comprehensive Income||(1405.01)||336.23|
Commenting on the results, Shri C SNopany, Chairman, Magadh Sugar & Energy Limited said:
“We are pleased that Magadh Sugar has now completed the restructuring of its operations in Bihar and is poised to take advantage of the inherent synergies and efficiencies of this consolidation. While season 2016-17 did not witness any significant increase in production due to unseasonal rains, the Company is encouraged by the sharp jump in cane plantation for the forthcoming 2017-18 sugar season.
Magadh Sugar is focussing on debottlenecking and energy improvement schemes to further enhance its gross margins. The Company is also focussed on increasing cane plantation with high yielding and high sucrose varieties of sugarcane in Bihar. We expect these measures will be beneficial to the Company in the long run.”
- The equity shares of the Company have been listed on NSE, BSE and CSE and started trading w.e.f. July 28, 2017.
- The Company has been assigned A- rating by CARE for its long term borrowings.
- The Company has initiated Capital Investment in Energy Efficiency and debottlenecking which will result in savings in operational cost and thus improve margins.
About:Magadh Sugar & Energy Limited (MSEL)
The Company was incorporated on 19th March 2015 with the main object to deal in sugar and sugar products, spirits and alcohol of denatured of any strength and all other products arising out of the manufacturing process of sugar or resultant of any activity related to sugar business, generation of power through various means.
The Company is having three sugar mills at New Swadeshi Sugar Mills, Narkatiaganj (District West Chamaparan, Bihar), Bharat Sugar Mills (District Sidhwalia, Bihar), Hasanpur Sugar Mills, Hasanpur (District Samastipur, Bihar) with a combined crushing capacity of 17,500 TCD. The Company is also having one distillery at Narkatiganj with a total capacity of 60 KLPD. The Company is also having Cogen facility and generate 38 MW power.