Simbhaoli Sugar FY06 net up 150%

Simbhaoli Sugar Mills (SSML), the largest integrated sugar refinery in India has posted a 149.69% jump in net profit at Rs 29.60 crore for the year ended March 31, 2006 when compared with Rs 11.85 crore in FY05.

According to an official release issued today, the company's net revenue grew 10.94% to Rs 438.59 crore when compared with Rs 395.33 crore in FY05.

The consolidated EPS grew 109.5% to Rs 18.19 per share. The board has recommended a dividend of 30%.

"We have achieved desired growth in turnover, while net profit has shown a significant growth in FY06. This is mainly due to improvement in realizations to the tune of Rs 120 per quintal and concentration on production of value-added products in sugar and alcohol segments...we have planned a capital outlay of around Rs 403.7 crore for FY06 and FY07" GSC Rao, executive director of SSML, said.