Bajaj Hindusthan net jumps 210%

BS 200 SCORECARD

Sugar major Bajaj Hindusthan (BHL) reported 210 per cent jump in net profits in the second quarter ended March 2006 at Rs 64.51 crore from Rs 21.45 crore recorded in the same period last year.

The company's total revenue increased by 288 per cent at Rs 421.73 crore from Rs 108.83 crore over the same period.

For the half year ended March 2006, the company recorded 180 per cent growth in its net profit at Rs 88.75 crore as compared with Rs 31.64 crore in the corresponding period of the previous year.

The company posted 208 per cent increase in total revenue at Rs 715.63 crore as against Rs 232.14 crore over the same period last year. EBIDTA increased 130 per cent to Rs 173.20 crore from Rs 75.22 crore during the first half of the previous financial year.

The company is projected to achieve total sugarcane crushing capacity of 1,00,000 tonne crushed per day by September 2006. Its total sugar production is expected to touch 2 million tonne by 2006-07. Between 2004-05 and 2005-06, the company will invest Rs 1,150 crore to increase sugar production capacity.

"BHL is constantly enhancing its competitive capability to tap the unfolding immense business potential in the Indian and international sugar markets. The expansion into the related areas of ethanol and power will also de-risk the company's earning potential," said Kushagra Bajaj, CEO.

The ongoing expansion of BHL's distilleries will increase its production of industrial alcohol from 320 kilo litres per day to 800 kilo litres per day.

The company is the largest producer of industrial alcohol and ethanol in the country and is also setting up additional co-generation plants to meet its captive power requirements.