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Shree Renuka Sugars
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Company History
Shree Renuka Sugars Limited (SRSL) is an integrated manufacturing company with strategic focus on Sugar and its allied products in Power and Ethanol. The Company was incorporated on 25th October 1995, key manufacturing facility of the Company is in Munoli, Athani & Havalgah, Karnataka and operate three leased facilities at Ajara & Arag in Maharashtra and at Aland in Karnataka. It has largest sugar refining capacity in India of 4000 Tons Per Day (TPD). The Company is principally engaged in manufacturing and refining of sugar, ethyl alcohol, ethanol, generation and sale of power.
An 11.2 MW cogeneration plant of the company was commissioned in the year 2000 for producing electricity from the Bagasse. SRSL had installed a distillery in the year 2002 with a capacity of 60 KL at our Munoli unit for manufacture and production of Ethanol. During the year 2003, the company added an additional turbine and boiler, increased its co-generation capacity of power from 11.2 MW to 20.5 MW. Also SRSL had installed a sugar refinery in the identical year of 2003 at Munoli unit with a capacity of 250 TPD. The Company incorporated and registered Renuka Commodities DMCC as a subsidiary company during the year 2004 in the Free Trade Zone in Dubai, United Arab Emirates to carry on the business of wholesale trading of sugar in the International market. The Unit II at Ajara in Maharashtra and Unit III at Mohannagar in Maharashtra of the company were taken as lease in the year 2004 and 2005 respectively.
Initial Public Offering (IPO) of SRCL was released in the year of 2005. The Company plays a significant role in exports/imports due to its coastal position. In 2006, the company had inked a Memorandum of Understanding (MoU) with Brazilian sugar giant. SRSL is the single largest exporter out of India in 2006 -07. It launched Madhur, a sugar brand for the retail markets, in November, 2007. It completed the acquisition of the Ethanol plant of Dhanuka Petro-Chem a division of Dhanuka Cold Storage Pvt Ltd in August, 2007 at Khopoli, Maharashtra for a total consideration of approximately Rs. 60 Million. It formed a new 100% subsidiary company in the name of Shree Renuka Agri Ventures in July, 2008 and acquired 87% stake in Gokak Sugars for consideration of Rs. 693 million in October, 2008. It formed a subsidiary company viz., SRSL Ethanol Ltd in December, 2008 for setting up of an Integrated Sugar and Ethanol Plant in State of Maharashtra.
During the year 2008-09, Company has set up Shree Renuka Global Ventures Limited in the Republic of Mauritius to facilitate its efforts to explore the business at global level. It acquired majority stake in Gokak Sugars Ltd, with its 2,500 TCD sugar manufacturing unit and 14MW co-generation power plant at Kolavi village of Belgaum Dist., in Karnataka. It commissioned a 30MW co-generation power project at Panchganga Co-operative Sugar Mill in Maharashtra. Since the complete co-generation assets had been transferred to the Company, the equity stake held by the Company in Shree Renuka Energy Limited was divested and that Company ceased to be the subsidiary of the Company. Consequently, Renuka Energy Resource Holdings (FZE) Sharjah, a subsidiary of Shree Renuka Energy Limited also ceased to be subsidiary of the Company. It commissioned 2,000 TPD port-based refinery at Haldia in 2008. During the year 2009-10, two wholly owned subsidiaries of the Company viz. Godavari Biofuel Pvt Ltd and Ratnaprabha Sugars Ltd. were amalgamated with the Company (Shree Renuka Sugars Ltd.), which stand transferred to and vested in Company from April 1, 2009 being the Appointed Date. As from December 10, 2010 being the effective date of the Scheme, Godavari Biofuel Private Limited and Ratnaprabha Sugars Limited stands dissolved without winding up.
In March 2010, Company acquired 100% stake in Renuka Vale do Ivai S/A (VDI) formerly Vale Do Ivaí S/A Açúcar E Alcool, a Brazilian sugar and ethanol production company located in Parana State of Brazil and VDI became a wholly owned subsidiary of the Company. In July 2010, the Company acquired a controlling stake of 50.34% in Equipav S.A. Açúcar e Alcool (Equipav AA), which was renamed as 'Renuka do Brasil S/A (RdB)'. It started construction of standalone port based refinery at Kandla having capacity of 3,000 TPD; which is expected to start production in second half of 2011.
During the year 2013-14, Shree Renuka Tunaport Pvt. Ltd. was incorporated as a Wholly Owned Subsidiary of the Company for the purpose of carrying on the business of infrastructure development in the form of constructing and building ports, jetties, wharfs, docks, harbours, etc.
During year 2014-15, Company divested its stake in Nandur Sugars Limited (NSL) (formerly known as SRSL Ethanol Ltd.), for a consideration of Rs 1.5 million and consequent to divestment, NSL ceased to be a subsidiary of the Company.
During the year 2015-16, Parana Global Trading (FZE), wholly owned subsidiary of the Company at UAE closed down w.e.f. August 13, 2015, due to non commencement of operations.
During year 2019-20, the Company sold its entire 82.9% stake in Shree Renuka Global Ventures Ltd. (SRGVL), a Mauritius based subsidiary of the Company, on 25th September 2019. As a consequence of this sale, SRGVL and all Brazilian subsidiaries and its subsidiary in Sri Lanka, M/s. Lanka Sugar Refinery Co (Pvt) Ltd, ceased to be subsidiaries of the Company and are classified as associates with effect 25th September 2019.
The Board of Directors, at its meeting held on 24th May 2022, approved the merger of Monica Trading Private Limited, Shree Renuka Agri Ventures Limited and Shree Renuka Tunaport Private Limited, wholly owned subsidiaries of the Company, with the Company, which submitted the Scheme of Merger to the Stock Exchanges on 1st August, 2022.
In February 2023, the Company commenced commissioning activities of its expanded ethanol production capacity at Athani (from 300 KLPD to 450 KLPD) and at Munoli (from 120 KLPD to 500 KLPD). During 2022-23, it expanded ethanol production capacity from 720 KLPD to 1250 KLPD.
Shree Renuka Sugars Share Price
Shree Renuka Sugars share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Shree Renuka Sugars Market Cap
Market capitalization of Shree Renuka Sugars indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Shree Renuka Sugars is valued compared to its competitors.
Shree Renuka Sugars PE Ratio
Shree Renuka Sugars PE ratio helps investors understand what is the market value of each stock compared to Shree Renuka Sugars 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
Shree Renuka Sugars PEG Ratio
The PEG ratio of Shree Renuka Sugars evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Shree Renuka Sugars ROE (Return on Equity)
Return on Equity (ROE) measures how effectively Shree Renuka Sugars generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Shree Renuka Sugars ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of Shree Renuka Sugars in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Shree Renuka Sugars Total Debt
Total debt of Shree Renuka Sugars shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
Shree Renuka Sugars Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of Shree Renuka Sugars compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
Shree Renuka Sugars CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of Shree Renuka Sugars over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Shree Renuka Sugars Technical Analysis
Technical analysis of Shree Renuka Sugars helps investors get an insight into when they can enter or exit the stock. Key components of Shree Renuka Sugars Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Shree Renuka Sugars shares often struggle to rise above due to selling pressure.
Shree Renuka Sugars Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Shree Renuka Sugars ’s financial health and profitability.
Shree Renuka Sugars Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Shree Renuka Sugars Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
Shree Renuka Sugars Financials
The financials of Shree Renuka Sugars provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
Shree Renuka Sugars Profit and Loss Statements
The profit and loss statement of Shree Renuka Sugars highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Shree Renuka Sugars .
Shree Renuka Sugars Balance Sheet
The balance sheet presents a snapshot of Shree Renuka Sugars ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Shree Renuka Sugars Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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