Financial Daily from THE HINDU group of publications
Friday, Aug 19, 2005
Financial Daily from THE HINDU group of publications Friday, Aug 19, 2005 |
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Corporate
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Announcements Agri-Biz & Commodities - Sugar Oudh Sugar to pay 25 pc dividend Our Bureau
Mumbai , Aug 18 OUDH Sugar Mills Ltd (OSML), a K.K. Birla group company, has recommended dividend of 25 per cent for the year ended June 30, 2005 at a meeting held on Thursday. The company reported turnover of Rs 356.04 crore for the year ended June 2005, up from Rs 354.14 crore the previous year. The company reported 83 per cent jump in profit before exceptional items and taxation (PBEIT) at Rs 40.59 crore against Rs 22.18 crore earlier. "The board also approved expansion of crushing capacity at its Hargaon Sugar mills from 7,500 TCD to 10,000 TCD and setting up a co-generation plant of 6 MW at an estimated cost of Rs 96 crore, to be operational during the season 2006-07," Mr Chandra Shekhar Nopany, Chairman and Managing Director, told newspersons. The project cost would be financed from debt funds from banks and finance institutions to the extent of Rs 41 crore. Sugar development fund loan of about Rs 32 crore would be available for the financing of this project. The remaining Rs 23 crore would be available from internal accruals, he said.
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