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Sakthi Sugars to keep Modakurichi Factory inoperative during FY20

28 May 2019 Evaluate

Sakthi Sugars has received an approval to keep the Modakurichi Factory inoperative during the financial year 2019-20 in view of inadequate availability of sugarcane due to drought condition and to reduce the cost of operations. There will not be any adverse impact on account of this as the entire cane available will be crushed in Sakthinagar Sugar Factory. The Board of Directors of the company at their meeting held on May 28, 2019, approved the same.

The Board has also given an approval for sale of the company's yet to complete Cogeneration Unit-II assets at Sakthinagar, subject to approval of banks and financial institution, for augmenting resources to pay secured creditors. There will not be any adverse effect to the company as the above assets are still under work-in-progress and not commissioned.

Sakthi Sugars is one of the largest producers of sugar in India.

Sakthi Sugars Share Price

18.44 0.13 (0.71%)
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