The expansion plans will be financed by debt funds of Rs 88 crore from financial institutions and Rs 29 crore will be sourced from internal accruals.
The company recorded significant increase in sales and net profit despite increase in cost of raw materials, thanks to various growth initiatives adopted, C S Nopany, chairman and managing director of Oudh Sugar, said.
The combined capacity of all its units after completion of the various expansion plans would be 23000 tcd with co-generation capacity of 31MW.
Oudh Sugar recorded an increase of 364% in its net profit at Rs 19.73 crore for Q3 ended March 31, 2006, from Rs 4.25 crore in the corresponding quarter last year.
Turnover rose to Rs 136.57 crore in third quarter ending March 2006 against Rs 94.7 crore in the corresponding quarter of last fiscal, up 44%.
