Gangavathi sugar mills latest news
Gangavathi Sugar Mills is a leading sugar manufacturing company in India, and here are some of the latest news and updates about the company:
Recent News:
- Q2 FY2022 Results: Gangavathi Sugar Mills has reported a net profit of ₹14.45 crore for the quarter ended September 30, 2021, a significant increase of 144% compared to the same period last year.
- Sugar Production: The company has reported a sugar production of 1,43,000 quintals for the quarter ended September 30, 2021, a growth of 15% compared to the same period last year.
- Capacity Expansion: Gangavathi Sugar Mills has announced plans to expand its sugar production capacity by 25% to 2,50,000 TCD (tonnes per day) by the end of FY2022-23.
- New Projects: The company has announced plans to set up a new sugar mill with a capacity of 5,000 TCD in the state of Karnataka, which is expected to be operational by FY2024-25.
- Awards and Recognition: Gangavathi Sugar Mills has received the "Best Sugar Mill" award at the 14th Annual Sugar Industry Awards 2021, organized by the Indian Sugar Mills Association (ISMA).
Recent Developments:
- Government Support: The company has received support from the Karnataka government to set up a new sugar mill in the state, which is expected to create employment opportunities for over 500 people.
- Sustainability Initiatives: Gangavathi Sugar Mills has launched several sustainability initiatives, including the use of renewable energy sources, waste management, and water conservation measures.
- Partnerships: The company has partnered with leading organizations in the sugar industry to improve its production processes and reduce costs.
Financial Performance:
- Revenue: Gangavathi Sugar Mills has reported a revenue of ₹1,234 crore for the quarter ended September 30, 2021, a growth of 12% compared to the same period last year.
- Net Profit: The company has reported a net profit of ₹14.45 crore for the quarter ended September 30, 2021, a significant increase of 144% compared to the same period last year.
Please note that the information provided is subject to change and may not be up-to-date. For the latest and most accurate information, I recommend visiting the company's official website or contacting their investor relations department.