• Corporate / Business

Vishwaraj Sugar Industries Ltd. Commissions Bagasse Pelletizing Machine

• Prashant Kapadia
• June 21, 2023

Belgaum, 20 June, 2023: Vishwaraj Sugar Industries Ltd. (VSL) (BSE: 542852, NSE: VISHWARAJ), an integrated sugar products manufacturing company, has announced that it has commissioned a Bagasse Pelletizing Machine to convert loose bagasse into bagasse pellets. This will help the Company in storing the bagasse in lesser space, reducing wastage and effectively using the bagasse in the boilers.

The Bagasse Pelletizing Machine is a state-of-the-art technology designed to transform loose bagasse into compact pellets, optimizing storage efficiency for the company. By converting bagasse into pellets, the machine reduces wastage and enhances the company’s sustainability efforts.

Earlier last month, the company reported earnings for quarter and year ended 31 March, 2023. For the quarter ended 31 March, 2023, revenue from operations grew 52% YoY to Rs. 199 Cr vs 130 Cr (Q4FY22) vs Rs. 101 Cr (Q3FY23). Profit before tax came in at Rs. 2.94 Cr (Q4FY23). PAT came in at negative Rs. 46.05 Cr (Q4FY23) (Loss YoY) adjusting for deferred tax

For the year ended FY23, revenue from operations grew 32% YoY to Rs. 616 Cr vs 469 Cr (FY22). Profit before tax came in at Rs. 25.54 Cr. PAT came in at a negative Rs. 23.44 Cr (Loss YoY) adjusting for deferred tax. Earlier, in February 2023, the board had considered and approved draft letter of offer for proposed rights issue, with an issue size of up to Rs. 125 Crores.

Incorporated in the year 1995, Vishwaraj Sugar Industries Ltd. is an integrated sugar and other allied products manufacturing company operating from Belgaum District in the State of Karnataka which is designated as one of the “High Recovery zones” for sugar production by Government of India. The company operates a single location sugar unit having licensed crushing capacity of 11,000 TCD.

In addition to sugar, the company also manufactures other allied products like Rectified Spirits, Extra-Neutral Spirits, Natural Alcohol Vinegar, Compost, Carbon dioxide (CO2), etc. and is also engaged in the generation of Power from Bagasse, a byproduct of sugar industry, for captive consumption as well as external sale. Vishwaraj Sugar Industries Ltd.’s business can hence be broken up into four main segments – Sugar, Cogeneration, Distillery and Natural Alcohol Vinegar. Since the de-regularization of Sugar, the Company has developed a robust marketing and sales team which liaisons with various major brands and has sold sugar produced to major brands.