The Hindu Business Line : Simbhaoli Sugars to retire Rs 150 cr debt in 12 months

MUMBAI: Simbhaoli Sugars Limited (SSL), one of the country’s largest sugar refiners is looking at various options to raise funds to retire Rs 150 crore debt in the next 12-months period, a senior company official said here.

“We are looking at various options to raise funds to repay Rs 150-crore debt, out of total debt of Rs 300-crore in the next 12-months period. We are looking at different instruments available and try to work out modalities in the next 45-60 days period,” Simbhaoli Sugars Director Finance, Mr Sanjay Tapriya said on the sidelines of a press meet here.

The company is generating lot of cash, which will be also utilised to repay the debt, Mr Tapriya said, adding that the company needs funds to import raw sugar and debt repayments.

On account of better realisation and off season refining of raw sugar at its sugar plants, the company has witnessed a robust improvement in the operating earnings and net profit in FY2009.

“Going by the current trend we expect margins to improve further. With the seamless operations of producing sugar throughout, the year going ahead we would like to further strengthen our financial position by improving the production of refined sugar,” M r Tapriya said. - PTI

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