Simbhaoli Sugars Ltd Merged Company Summary

Simbhaoli Sugars Ltd Merged Summary

Incorporated as a private limited company in Jun.36, The Simbhaoli Sugar Mills (SSM) was converted into a deemed public limited company in 1975 and a public limited company in Jul.89. Its plant is in west Uttar Pradesh. SSM was promoted by Sardar Raghbir Singh Sandhanwalia, Sardar Pritam Singh, Sardarni Mahindra Kaur, Sardar Naunihal Singh Mann and SBS Joginder Singh. Gurmit Singh Mann is the Chairman and Managing Director. Other group companies are Dholadhar Investments, Highland Gardens and Hotels, etc. SSM made a public issue of 22.64 lac 14% PCDs aggregating Rs 21.08 cr in Jan.95. The proceeds were utilised for expanding 5500 tcd to 8000 tcd. It has also set up another distillery unit at a cost of Rs.115.45 crores with a capacity of 2500 tcd.SSM is one of the largest sugar manufacturing units in Uttar Pradesh. The main end products of SSM are white crystal sugar and alcohol. The products are sold to various government agencies and to the canteen stores of the Armed Forces. During 1993, Simbhaoli Industriies Pvt Ltd was amalgamated with the company because of its synergies in operations and proximity to the sugar unit. The company has signed an MoU with Econergy International Corporation (EIC), US, for examining the feasibility of setting up an international standard biomass-based power plant. It has also signed an MoU with Soli, Israel, for setting up a tissue culture facility at Simbhaoli.In 2001-02 the Chilwaria Sugars Ltd a subsidiary company was amalgamated with the company with the approval of shareholders and Honourable High Court of UP. The projects which are under completion stage are: Conversion of Simbhaoli manufacturing facility into a sugar refinery under the Sugar Development Fund,increasing the capacity of distillery division to 90 KL/day from the existing 60 Kl/day,setting up a co-generation facility at its distillery division. Out of the above Co-generation facility is under implementation stage and conversion of sugar refinery is also nearing completion.The company had set up a new unit(a 30 KL per day capacity) at its existing distillery division(at Simbholi, Ghaziabad) for manufacture of Ethanol. Ethanol production was started in Jan 2004.