Incorporated as a private limited company in Dec.'87, SBEC Systems (India) was converted into a public limited company in Jan.'93. It was promoted jointly by U K Modi and SBEC Systems, UK. SBEC Systems, UK, which holds a 40% stake and provides necessary technical expertise. The Company provides engineering and consultancy services for designing sugar plants, expansion/ modernization of existing sugar plants and integration of co-generation facilities and providing high-tech equipment to sugar and power industries.
The Company was set up as a service organisation for providing engineering and technical management services to the Indian sugar industry. It gradually moved from consultancy services to providing equipment based on their designs on a selective basis.
The Company came out with a public issue in Nov.'93 to set up a workshop to undertake fabrication/assembling of equipment for sugar industry in Modinagar, Uttar Pradesh.
SBEC Systems promoted a new Company under the name of SBEC Sugar in the Meerut district of Uttar Pradesh.
During 1996-97 the Company's performance suffered a set back mainly due to delay in commissioning of sugar project of SBEC Sugar Ltd., and Co-generation project of SI-AL SBEC Bioenergy Pvt Ltd.