*KEY TAKEAWAYS FROM SHREE RENUKA SUGARS AGM*:
• *Commercialization of expanded Ethanol capacity from 720 KLPD to 1400 KLPD in Oct’22 (THIS IS V IMP)*
• In FY21, Crushing increased by 38%, raw sugar by 15%, ethanol production by 23%, ethanol supply by 44%
• Branded Sugar “Madhur” sales grew by over 30% and more than doubled since the new owner came in.
• Expanding distribution in North East and East and thrust on ecommerce. No reason why it cannot be a PAN India brand. Have set up packing unit in Delhi and Kanpur.
• *QIP of 1500crs proceeds would be used to deleverage balance sheet and Co’ is seriously looking for acquisitions*
• Numbers going forward are expected to be good given the rise in domestic sugar prices, ethanol sales and lower interest costs due to upgradation in credit ratings. Management refrained from giving precise number range.
• Promoting drip irrigation amongst farmers to reduce water intake.