Dwarikesh Sugar PAT rises to Rs 26.60 crore

Mumbai: DWARIKESH Sugar Industries Ltd (DSIL) has reported a 172.52 per cent increase in the profit after tax at Rs 26.60 crore for the year ended September 30, 2005 from Rs 9.76 crore the previous year. Sales increased to Rs 164.25 crore for the year ended September 2005 from Rs 153.13 crore last year, up 7.26 per cent. The operating margin for the current year is 30.26 per cent.

In view of the results and the growth prospects of the company, the board of directors has recommended an interim dividend of 60 per cent for the year ended September 2005, a company release said. The company's Chairman and Managing Director, Mr G R Morarka, said the 30,000-litres-per-day-capacity distillery and the 7.5-MW projects had commenced commercial operations during the financial year 2004-05.

The company's greenfield project will commence operations by November-end, which will take its total daily crushing capacity to 12,000 TCD (tonnes crushed per day). Dwarikesh Sugar proposes to install an additional 15-MW power co-generation capacity (to be ready by November 2006) at the new plant. The company plans to register for carbon credits for the new venture and the documentation procedure has begun.