Allahabad High Court recently raised the minimum price that millers have to pay the sugarcane farmers by 13.6 per cent. The High Court asked the sugar mill owners to pay their dues for the year ended September at Rs 125 a quintal within two months. Most mills have made a payment at Rs 110 a quintal, fixed in an interim order by the Supreme Court in May.
FIIs held 19.43 per cent stake in the company at the end of June 2008 quarter. The company posted a net profit of Rs 2 crore in the financial year ended September 2007 compared to Rs 184 in the previous year.