About Sakthi Sugars Limited

Sakthi Sugars Limited is an Indian manufacturer engaged in sugar, industrial alcohol, power and soya products. Its installed sugar capacity is 16,500 tons of cane crush per day, supported by co-generation power plants at Sakthinagar, Sivaganga and Modakurichi with a combined 92 MW capacity. The distillery produces rectified spirit, extra neutral alcohol and ethanol with 120 KLPD distillation capacity and over 50 KLPD ethanol capacity, while the company can process 90,000 tons of soya beans per annum. The company’s shares are listed on BSE and NSE.

 

Operationally, the company’s footprint spans the above locations, with additional activity during the year relating to the Dhenkanal sugar and distillery units (sold on November 11, 2022) and the soya unit at Marchinaickenpalayam, Pollachi, approved for sale to reduce liabilities.

 

Sakthi Sugars Limited Milestone

 

Key milestones in the latest year included higher sugarcane crushing across units and improved recovery. The company produced 1.99 Lakh MT of sugar (vs. 0.83 Lakh MT in the previous year), and the distillery produced 246.97 Lakh litres of industrial alcohol, with both volumes and realisations improving year-on-year.

 

Sakthi Sugars Limited Key Management

• Dr. M. Manickam – Chairman and Managing Director
• Sri M. Balasubramaniam – Managing Director
• Sri M. Srinivaasan – Joint Managing Director
• Dr S veluswamy – President (Finance & Operations), Chief Financial Officer
• Sri S Baskar – President & Company Secretary

 

Latest Updates on Sakthi Sugars Limited

• Asset sale: The company sold its Sugar and Distillery units at Dhenkanal for Rs 13,410.00 Lakh on November 11, 2022, recognising a profit of Rs 5,624.98 Lakh; it also approved the sale of its Soya unit at Marchinaickenpalayam, Pollachi. These transactions form part of a plan to reduce liabilities, and the results are presented as discontinued operations.
• Debt restructuring: Exceptional income during the year arose from lender-driven remission of interest under restructuring terms, amounting to Rs 41,061.91 Lakh.
• Shareholder approvals: Special resolutions were passed in EGMs held on May 27, 2022 for the sale of the Dhenkanal and Pollachi units, and on June 25, 2022 for provision of corporate guarantee and security in favour of ABT Limited.
• Operations: Cane crushed at the sugar units totalled 13,23,251 MT (Sakthinagar), 3,45,314 MT (Sivaganga) and 4,47,844 MT (Modakurichi). Industrial alcohol output reached 246.97 Lakh litres at the Sakthinagar distillery.
• Subsidiaries: The company reiterated that it had no subsidiaries during the year.