Shree Vaani Sugars & Industries Ltd merged Company Summary

Shree Vaani Sugars & Industries Ltd merged Summary

Shree Vani Sugars & Industries (SVSIL) was incorporated as Shree Telugu Sugars in Oct.84. It acquired its present name in Apr.90. The company was promoted by P Chengal Reddy, C Manohar Reddy and T G Vasanta Gupta and is managed by managing director T Suryachandra Rao. In May 92, SVSIL came out with a Rs 9.15-cr public issue to part-finance the implementation of a Rs 30.8-cr sugar factory in Chittoor, Andhra Pradesh, for manufacturing white crystal sugar with an installed capacity of 2500 tcd.The company manufactures white crystal sugar and jaggery. Apprehending the diversion of sugarcane to jaggery-making in view of the continued buoyancy in jaggery prices, the company is making all-out efforts to enter into agreements / commitments with farmers to ensure supply of sufficient quantity of quality sugarcane during the 1995-96 crushing season. To encourage the farmers to develop new varieties and to make firm commitments for the supply of sugarcane, the company has extended various incentives to them in the form of supply of seeds, fertilisers and weedicides and by drilling borewells, etc. The company has obtained a loan from the Sugar Development Fund to enable it to take up a massive cane development programme to grow new varieties and encourage farmers to adopt modern agronomic practices. With the development of new varieties of cane, sugar recovery is expected to improve further. In 1997-98, the anticipated cane plantation is 7000 acres besides ratoon plantation of 5000 acres resulting in supply of 250000 tonnes of sugar cane during 1998-99 crushing season from our factory zone.The Company has been working on Barley and Sugar Research Project exclusively of M/s United Breweries Limited as per the Guidelines given by Research & Development Department of M/s United Breweries Limited.