Namaste!!!
I welcome everyone to the 31st Annual General Meeting of Indian Sucrose
Limited on behalf of the Board Members of Company, I congratulate all the shareholders for
their unwavering support extended to the Company throughout the Year. The Company has
performed immensely great in the financial year 2021-22 having aftermath of Covid-19
pandemic. This year we as a company are focused more on the growth of our Stakeholders.
we are once again meeting virtually as the continued impact of the Covid-19 pandemic
necessitates adoption of safety measures in order to minimize any risk to the members of
the company.
Let me now take this opportunity to apprise you all of the key highlights of the last
financial year and also touch upon some of the key initiatives undertaken by our company
as sugar industry remains a key driver of economic empowerment in the rural belt of our
country hence in later half of previous year our company had planned expansion of the
existing Sugar Mill plant at Mukerian from 5000 TCD to 9000 TCD in 1st Phase
and we are pleased to announce that this target has been achieved with double refined
process and to expand our existing power plant from 19.5 MW to 40 MW' subject to approval
from the Punjab Pollution
Control Board and we put to use of 40 MW after trials. The Company is in process to
install 120 KLD ethanol plant alongside of sugar factory, various approval and
certificates are in place, however we are waiting for financial closure and Punjab excise
department approval before installation of plant.
Recently Industry Body ISMA has reported consistent rise in sugar export in last 3
season from 5.95 million tons in 2019-2020 to 9 million tons in 2021-22. Further India has
also achieved on an average 9.8% average ethanol blending throughout 2021-22, our target
by 2025 is to achieve 20% ethanol blending with gasoline. Since there was a sharp increase
in oil price in the later part of the financial year on account of Russia- Ukraine war,
millers have actually diverted the cane to ethanol which would have been conventionally
gone into additional sugar production. This would not only reduce the dependence of
Industry on crude oil but it will also help in reduction of Air Pollution.
Further Coming to the Cane production, The Indian Farmer is producing more cane than
ever which in turn is helping India to produce more Sugar than ever, this reality is the
principal driver of the industry's growth. I must mention that there was a time when
millers would ask farmers to restrict the cane production in fear that excess cane
production would moderate sugar realizations and extend the sector losses. In last
financial year even though the domestic sugar output was high it did not affect the
realization value of the sector, which indicates the success of value driven model that
enhances the wealth of stakeholders.
The improvement in our performance was reflected in the evolving revenue contribution
from the sugar business as there is 3.65% increase in the revenue of the company as
compared to last year. Our outlook for the upcoming years is also positive for sugar
industry as there is high demand of Sugar in both National and International Market.
Towards the end, I take this opportunity to really commend die dedication and zeal of
all our employees who strived through a difficult period and ensured that as an
organization we surmounted all the challenges and continued to take our organization
forward. I would also like to thank all my colleagues on the Board for their continued
support in all our endeavors.
Finally, I thank all our shareholders for their persistent trust and confidence on team
Indian Sucrose Limited.
| Your sincerely, |
| Sd/- |
| Kunal Yadav |
| Managing Director |