• September 2010
  • Shree Renuka Sugars Ups Stake In NCDEX; Buys 7% From Crisil

    Shree Renuka Sugars Ltd has hiked its stake in the country’s second largest agri-commodity exchange National Commodity & Derivatives Exchange Ltd (NCDEX) to 12%. The sugar company bought 7% stake from Standard & Poor’s backed rating agency CRISIL in a deal worth Rs 38 crore, valuing NCDEX at Rs 543 crore(~$ 120 million).

• Febuary 2010
  • Shree Renuka’s Brazilian acquisition insulates it from India’s sugar cycle

    The latest deal of Shree Renuka Sugars Ltd, (SRSL) the acquisition of Brazil’s Grupo Equipav’s sugar business, is a game changer in the making.

    SRSL spent Rs1,500 crore in creating assets over five years till the fiscal ended 30 September 2009. Sugar firms count their year from October.

  • Shree Renuka clinches deal with Equipav

    India’s biggest sugar refiner, Shree Renuka Sugars Ltd, has clinched a deal to acquire a controlling stake in Equipav SA Açúcar e Álcool, the sugar and ethanol unit of Brazil’s Grupo Equipav, for $329 million (around Rs1,517 crore today).

    The Belgaum, Karnataka-based sugar firm nudged out the $36 billion Noble Group Ltd of Hong Kong in the race to buy the 51% stake, its second purchase in four months in Brazil. Shree Renuka bought 100% of Vale Do Ivai SA, or VDI, in November for $82 million plus debt.

• January 2010
  • Higher volumes and prices drive Renuka Sugars’ profit growth

    Sugar firms are reaping the benefits of rising sugar prices and low-cost cane stock. Most firms had carry-over stocks of sugar from the previous season, when cane was much cheaper than at present. While the Centre is trying to talk down sugar prices, the underlying supply shortage still remains. Sugar firms expect domestic realizations to rise to as high as Rs50 per kg by the end of the sugar year (in September) in Uttar Pradesh, from about Rs40 per kg at present.

• November 2009
  • Brazilian acquisition secures raw sugar supplies for Shree Renuka Sugars but debt goes up too

    Indian sugar companies keep one eye on the monsoons and another on the government, as the unpredictable behaviour of both of them can play havoc. But Shree Renuka Sugars Ltd. has been reducing its dependence on both, by setting up independent sugar refining capacities. Its acquisition of a Brazilian sugar company, Vale Do Ivai S.A. Acucar E Alcool, is a step in securing raw sugar supplies for its refining operation.

• June 2008
  • Sugar price rise may leave bitter aftertaste

    After petrol and food grains, it seems to be the turn of sugar prices to march north.

    This is because sugar production has come down by nearly 35% in the state compared to last year. State's farmers harvested 4.6 crore tons of sugarcane last year. But this year, it has reduced it to 3 crore tons.

• March 2007
  • Sugar industry faces grim situation: Sharad Pawar

    Sugar sector in India is in dire straits followed increased global production with huge stocks starking the industry Union Agriculture Minister Sharad Pawar said today.

Also See:

• Associations for Sugar Industries
• Factories Presently Not Working
• Factories Under Erection / Commissioning
• Co-Operative Sugar Factories (Sahakari Sakkare Karkhane)
• Factories already co-generating power