Mawana Sugars Ltd Company Summary

Mawana Sugars Ltd Summary

Mawana Sugars Limited, formerly known Shriram Industrial Enterprises Limited, a part of the Siddharth Shriram Group, is a well-diversified company having presence in Chlor-Alkali (Caustic Soda and its by-products), Sugar and Edible Oils. The Company is also into manufacture of Stable Bleaching Powder, Soap, providing consultancy services. As at March 31, 2024, Mr. Krishna Shriram (including shares held as trustee of Enterprise Trust) owns 63.49% of equity share capital of the Company.Mawana Sugars Limited was incorporated on March 27, 1961. The Company changed its name in December, 2007. The Companys Chlor Alkali plant is located at Rajpura, near Patiala in Punjab. The Chlor Alkali Plant at Rajpura which was an green field project set up with an installed capacity of 228 tpd. The commercial production at the chemical complex at Rajpura has commenced on Feb 1, 1999.The sugar business of the company which was spined off into a separate subsidiary i.e Siel Sugars Ltd w.e.f. Oct 1, 2002 has two plants in UP. Further the company has incorporated two more subsidiaries i.e Shivajimarg Properties Ltd, a subsidiary of SIEL Ltd and Siel Holdings Ltd, a subsidiary of Siel Sugars Ltd to carry out its plan of restructuring. The investment of the company in its JV. Daikin Shriram Airconditioning Pvt Ltd (DSAPL) is to be transferred to Siel Holdings Ltd. SIEL received the ISO 9001 certificate for air conditioning compressors produced in technical collaboration with Tecumseh Products Company, US. The company has also entered into a technical collaboration with Plansee Tizit, Austria, to manufacture tungsten carbide tools at India Hard Metals, a unit of the company. Shriram Honda Power Equipment, a company promoted in collaboration with Honda Motor Co, Japan, has started exports. SIEL took over Cawnpore Sugar Works (CSWL), a BIFR company. The quality of the companys products are as good as the best in the world and hence SBP manufacturing operations have been awarded ISO 9002 certificate during the year 1999-2000. During 2000-01 the manufacturing process of Double Carbonation Double Sulphitation(DCDS) to Double Sulphitation was commissioned at a record time.To establish its overseas presence, the company has promoted a wholly-owned subsidiary called SIEL Overseas in the UK, for export, import, acquisitions and other trading activities. The companys subsidiaries are Siel Financial Services, SFSL Investments, Jay Engineering, Siel Aircon, SIEL Industrial Estate and Transiel India.During the year 2005-06, Siel Edible Oils Ltd. was incorporated as a wholly owned subsidiary of Company. On completion of sale of shares of Shivajimarg Properties Ltd. (SPL), SPL ceased to be subsidiary of Company. Siel Edible Oils Limited, a wholly owned subsidiary of Company restarted marketing of Vanaspati in small packs in 2007. Pursuant to the Scheme of Arrangement for Amalgamation of the erstwhile Mawana Sugars Limited (MSL), with the Parent Company approved by the Honble High Court of Delhi vide its Order dated September 11, 2007 which became effective on October 15, 2007, all the properties, and business undertakings of erstwhile MSL got transferred to and vested in the Parent Company as a going concern with effect from the appointed date i.e. October 1, 2006 and subsequently, the name of the Parent Company was changed to Mawana Sugars Limited w.e.f. January 4, 2008.On the Scheme of Arrangement of amalgamation sanctioned by the High Court of Delhi vide its order dated 19.7.2010, the equity stake held by Usha International Limited (UIL) in Mawana Sugars Limited (MSL) was increased to 62.67% and consequent to the above, MSL became a subsidiary of UIL w.e.f. 26.7.2010.During the year 2020-21, Company transferred its Chemical Manufacturing Undertaking operating under the name and style of Siel Chemical Complex (SCC) located at Rajpura, Punjab to Bodal Chemicals Limited.For the ethanol year 2023-24 (Nov 23 to Oct 24), the distillery was originally allocated 38000 KL ethanol to be supplied from B Heavy molasses but amid reports of likely sugar production deficit in the 2023-24 which commenced on 1st October, 2023.