Ponni Sugars spurts on planning to commission co-generation plant by month end

Ponni Sugars (Erode) Ltd. | Sugar | Agriculture & Allied activities | BSE: 532460 | NSE: PONNIERODE

12 Mar 2012 Evaluate

Ponni Sugars is currently trading at Rs. 114.00, up by 3.10 points or 2.80% from its previous closing of Rs. 110.90 on the BSE.

The scrip opened at Rs. 111.00 and has touched a high and low of Rs. 129.75 and Rs. 111.00 respectively. So far 392967 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 129.75 on 12-Mar-2012 and a 52 week low of Rs. 71.55 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 129.75 and Rs. 92.00 respectively. The current market cap of the company is Rs. 98.02 crore.

The promoters holding in the company stood at 42.80% while Institutions and Non-Institutions held 0.09% and 57.11% respectively.

Ponni Sugars (Erode) is likely to commission its 19-MW co-generation plant by the month end, as this will be an important development for company in terms of revenue generation and potential growth to the top line. The company aims to complete the project on schedule and well within estimated project cost of Rs 102 crore, as costs have been contained despite increase in the base rate.

The company expects that the co-generation plant will operate at 15 MW in early days which will help to generate a surplus of about 11 MW that will be supplied to the State grid. At full capacity, the surplus supplied to the grid will increase to about 14 MW. This will mean an additional revenue of about Rs 45 crore a year for the company at the current tariff level of Rs 4.47 a unit.

Further, the company has inked pact with bank for loan of Rs 65 crore and a loan under the Sugar Development Fund for about Rs 25 crore. The balance is through internal accruals. During 2010-11, the company crushed about 6.3 lakh tonnes (lt) of sugar.

Ponni Sugars (Erode) Share Price

316.25 -1.85 (-0.58%)

06-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Shree Renuka Sugar	29.16
Bajaj Hindusthan Sug	20.41
Triveni Engg. & Inds	407.05
Balrampur Chini Mill	525.15
Dalmia Bharat Sugar	386.05
View more..

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