The company took the decision as carrying on operations was not viable, it said in a filing to the exchanges on Saturday, but did not disclose any reasons for the same.
On Saturday, the company reported a 14% year-on-year decline in its Jul-Sep revenue from operations to Rs 2.5 billion. However, net profit for the September quarter rose 7% on year to Rs 295.2 million.
Andhra Sugars Ltd is currently trading at Rs 559.75, down by Rs 32.45 or 5.48% from its previous closing of Rs 592.2 on the BSE. The scrip opened at Rs 588 and has touched a high and low of Rs 588 and Rs 557.25 respectively. So far 210106(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1605.45 crore.