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×

gobind sugar mills Limited

125.00
+ 0.00 %
Scrip Name
Gobind Sugar
ISIN No.
INE246E01013
PAN No.
AABCG0947N
Face Value
10
No. of Outstanding Shares
4,473,047
Market Capitalization
55.91 Crore

GOBIND SUGAR MILLS LIMITED SHARE


GOBIND SUGAR MILLS LIMITED is one of the leading sugar manufacturing companies in India. The company is located at Aira – the sugar bowl region of the country, Lakhimpur Kheri District, Uttar Pradesh. Gobind Sugar Mills Limited has access to three sugarcane-producing districts, namely, Lakhimpur-Kheri, Bahraich, and Sitapur, which adds to a total of 40,000 hectares of sugarcane cultivable area. The company has improved its technology which enables the unit to crush 10,000 tonnes of Sugarcane every day.


Gobind Sugar Mills Limited started producing Sulphur Free refined sugar in 2017 and today the company has a capacity of producing 500 TPD (Tons per Day) of Double Refined pharmaceutical and food-grade sugar. Besides selling the finished product, the company also engages in the production and sale of various by-products of sugar.


The company is producing and selling molasses and bagasse. Molasse is the dark, sweet, syrupy by-product made during the extraction of sugar from sugarcane and sugar beets. Gobind Sugar Mills Limited produces around 500 tonnes of molasses per day. Bagasse is the fibrous dry pulpy residue left after the extraction of juice from sugarcane. It can be used as a biofuel and also in the production of construction materials. The company produces 3,000 tonnes of bagasse per day.


Gobind Sugar Mills Limited runs on the self-generated electricity produced from the green power plant which uses the organic waste (Bagasse) of sugarcane as fuel.


In FY 2020, the state-of-art Distillery Plant was commissioned and the Company started the commercial production of the Ethanol at 60 KLPD capacity with effect from 01st December 2019. However, in July 2020, State Level Environmental Impact Assessment Authority, Uttar Pradesh has cleared the company’s application for enhancing the capacity to 100 KLPD. The plant has the capacity to produce Ethanol from C-Molasses, B-Heavy Molasses, and sugarcane juice directly.


The equity shares of Gobind Sugar Mills Limited are listed on the Metropolitan Stock Exchange of India Limited (‘MSEI’).


INCORPORATION DETAILS


CIN

L15421DL1952PLC354222

Registration Date

18 August 1952

Category/Sub-category of the Company

Public Company Limited by Shares

Address of the Registered office and contact details

Birla Mill Complex, P. O. Birla Lines

G T Road, Near Clock Tower,

Kamla Nagar, North Delhi- 110007

Tel : 91 - 124 – 482 7800

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

Link Intime India Pvt. Ltd

59C, Chowringhee Road

3rd Floor, Kolkata – 700 020

Tel : 91 033 2289 0540

 

PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

% to total turnover of the Company

Manufacture or refining of sugar from sugarcane

87.37%

Electric power generation using other non-conventional sources

12.31%

 

BOARD OF DIRECTORS

Mr. Akshay Poddar (Non-Executive Director and Chairman)

Mr. R. S. Raghavan (Managing Director)

Mr. Alok Saxena (Executive Director)

Mr. Vijay Kathuria (Executive Director)

Mr. Marco Wadia (Independent Director)

Mr. L. M. Chandrasekaran(Independent Director)

Mrs. Manju Gupta(Independent Director)


PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

GOBIND SUGAR MILLS LIMITED does not have any subsidiary or associate company.

 

GOBIND SUGAR MILLS LIMITED SHARE DETAILS


Total Available Shares:

44,73,047

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE246E01013

PAN No.:

AABCG0947N

Last Traded Price

125

Lot Size:

100

Market Capitalisation

Rs. 55.91 Crore


SHAREHOLDING PATTERN

(As on 31-03-2021)

S. No.

Shareholder’s Name

Number of shares

% of total Shares of the company

1

Zuari Investments Limited (Promoter)

29,13,679

65.14%

2

Akshay Poddar (Promoter)

2,35,000

5.25%

3

Ricon Commerce Limited (Promoter)

80,000

1.78%

4

Other Promoters

1,20,000

2.69%

5

Public Shareholding

11,24,368

25.14%

 

Total

44,73,047

100.00%


INDUSTRY OUTLOOK

 

From the last two years, India has become the world’s largest producer of sugar, as brazil has diverted more of its production to produce ethanol. Therefore, Indian Sugar producers are getting better prices for their products. The sugar sector follows a sugar season cycle from October to September of next year.


According to the Indian Sugar Mills Association (ISMA), around 502 sugar mills have started their operations from 1st October 2020 to 28th February 2021. They altogether produced 23.37 million tonnes of sugar as of 28th February 2021. From October 2020 to mid-February 2021, sugar production in India increased by 22.9% to  20.9 million tonnes on account of 74% and 26.9% production growth in Maharashtra and Karnataka, respectively, backed by increased sugarcane area, better yields among others. Sugar output in  India is expected to increase by 11.7% to 32 million tonnes during the Sugar Year 2020-21 (October 2020 -September 2021)  on account of higher production in Maharashtra and Karnataka.


Cabinet Committee on Economic Affairs (CCEA), on 16 December 2020,  approved assistance of about Rs. 3,500 crore towards sugar export for the sugar season 2020-21 to curtail the sugar glut situation in India and to reduce the quantum of sugarcane arrears owed by the sugar industry. For Sugar Year 2021, India is likely to export 5.50 million tonnes of sugar. In fact, within just two months, companies have already exported 4.80 million tonnes of sugar.


The sugar prices in the domestic market are unlikely to witness any major improvement due to huge carry-over stocks of about 10.6 million tonnes and an expected 10.2% growth in production to 32 million tonnes in the current sugar year 2020-21. Thus the prices are expected to remain largely range-bound only backed by an MSP of Rs.31 per kg. Domestic prices are unlikely to increase unless sugar MSP is hiked by the government.


The global sugar market to exhibit stable growth during 2020-2025. Over the next ten years, global sugar production is projected to expand by 14%, from 178 Mt in the base period (September 2016 to October 2019) to 207 Mt in 2028, with 85% of the projected increase originating in developing countries.


PROFIT & LOSS STATEMENT OF GOBIND SUGAR MILLS LIMITED(In Rs. Lakhs)

 

PARTICULARS

2021

2020

2019

2018

Revenue from Operations

76,274.06

57,900.03

46,384.92

29,432.87

EBITDA

9,857.47

2,925.34

837.98

2,905.07

EBITDA margin

12.92%

5.05%

1.81%

9.87%

Finance Cost

8,851.31

8,426.98

6,945.91

6,179.43

Depreciation

2,581.10

2,122.57

1,800.40

1,697.97

Other Income

2,946.04

4,117.87

5,280.16

2,516.83

Profit before Exceptional items and Tax

1,371.10

-3,506.34

-2,628.17

-2,455.50

Exceptional items

-1,201.64

0

0.00

0

Total Tax

-1,144.89

3,949.72

954.3

-398.14

Profit After Tax (PAT)

1,314.35

-7,456.06

-3,582.47

-2,057.36

EPS

29.38

-166.69

-97.31

-64.29

 

BALANCE SHEET OF GOBIND SUGAR MILLS LIMITED (In Rs. Lakhs)

PARTICULARS

2021

2020

2019

ASSETS




NON CURRENT ASSETS




Tangible assets

53,244.66

55,037.21

46,595.90

Intangible assets

8.81

15.94

25.10

Financial assets

312.94

212.96

33.47

Other non-current assets

230.46

148.16

919.11

Tax assets

4,452.41

3,343.85

7,303.91

TOTAL NON CURRENT ASSETS

58,249.28

58,758.12

54,877.49

CURRENT ASSETS




Inventories

39,128.51

48,066.15

46,006.49

Financial assets

6,942.08

6,764.66

5,445.64

Trade receivables

4,156.16

4,105.88

3,830.78

Cash and cash equivalent

518.28

145.10

163.49

Other current assets

1,378.51

1,363.55

1,310.50

TOTAL CURRENT ASSETS

52,123.54

60,445.34

56,756.90

TOTAL ASSETS

1,10,372.82

1,19,203.46

1,11,634.39

EQUITY AND LIABILITIES




EQUITY




Equity Share Capital

447.3

447.3

373.09

Instruments entirely equity in nature

0

0

74.21

Non-Controlling Interest

-8,468.44

-9,811.73

-2,399.45

TOTAL EQUITY

-8,021.14

-9,364.43

-1,952.15

LIABILITIES




NON CURRENT LIABILITIES




Long term borrowings

49,000.10

47,855.40

45,046.19

Lease Liabilities

322.27

415.67

0.00

Long term provisions

346.28

341.36

405.41

Other non-current liabilities

3,642.13

4,617.50

5,544.65

TOTAL NON CURRENT LIABILITIES

53,310.78

53,229.93

50,996.25

CURRENT LIABILITIES




Borrowings

17,121.91

19,159.16

19,387.07

Trade payables

30,145.87

35,808.35

30,036.40

Other financial liabilities

15,014.42

16,480.06

9,666.19

Other current liabilities

2,575.79

3,696.71

3,399.07

Provisions

225.19

193.68

101.56

TOTAL CURRENT LIABILITIES

65,083.18

75,337.96

62,590.29

TOTAL LIABILITIES

1,18,393.96

1,28,567.89

1,13,586.54

TOTAL EQUITY AND LIABILITIES

1,10,372.82

1,19,203.46

1,11,634.39

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Lakhs)

-19,120.46

-11,701.38

-8,143.38

 

PERFORMANCE OF THE COMPANY

Total Revenue from Operations of the company increased by 31.73% from Rs. 57,900.03 lakhs in FY 2020 to Rs. 76,247.06 lakhs in FY 2021. In FY 2021, sugar segment generated Rs. 75,161.40 lakhs, power segment generated Rs. 6,757.47 lakhs and ethanol segment generate Rs. 11,318.55 lakhs. However, Rs. 16,969.36 lakhs of revenue was Inter segment revenue of the company.


EBITDA of the company increased exponentially by 236.97% from Rs. 2,925.34 lakhs in FY 2020 to Rs. 9,857.47 lakhs in FY2021. EBITDA margins improved from 5.05% in FY 2020 to 12.92% in FY 2021.


The company has turned a loss of Rs. 7,456.06 lakhs in FY 2020 to a net profit of Rs. 1,314.35 lakhs in FY 2021. The company has tuned profitable after the consecutive losses for three years.


Current Ratio of the company as of 31st March 2021 was 0.8.


Total debt on the company as of 31st March 2021 was Rs. 66,122.01 lakhs.


The company has not given dividend from the past three years.

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