Equity

Shri Renuka Sugar Ltd. (June 19, 2020)

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

Shri Renuka Sugar Ltd. (June 19, 2020)

 

 

Sugar

FV – Rs 1; 52wks H/L – 10.91/3.2; TTQ (Lac) – 3.47; CMP – Rs 7.69 (As On June 19, 2020); Market Cap – Rs 1474.03 Crs

Consolidated Financials and Valuations (Amt in Rs Crs unless specified)

Shri Renuka Sugars Ltd
Year Equity Capital Net Worth Long Term Debt Total Sales PAT BV EPS P/E P/BV Promoter’s Holdings
Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Rs %
2019/20 (9M) 192 1744 2228 3504 2095 9.10 10.93 0.53 0.85 50.03
2018/19 192 -3008 2524 4718 -2037 -15.69 -10.63 50.05

 

One off profit from discontinued operations was Rs 2516 Cr for 9m FY20

 

Peer Comparison:

 

Shri Renuka Sugar (9m) Triveni Engg Balrampur (9m) Dhampur
Price (Rs) 7.69 53.9 128.9 129.7
FV (Rs) 1 1 1 10
Market Cap 1474 1336 2836 861
Equity 192 25 22 66
Net Worth 1744 1339 2173 1362
Total Debt 2228 1387 1526 1617
Sales 3504 4473 3019 3556
Net Profit 2095 335 278 216
EPS (Rs) 10.9 13.5 12.6 32.4
BV (Rs) 9.1 54.0 98.8 204.9
PE 0.5 4.0 7.7 4.0
PB 0.8 1.0 1.3 0.6
Crushing Capacity(TCD) 37500 76500 45500
Tonnage (MT) 1.01 0.483 0.766

 

Triveni Engg Crushing Capacity : 8.5 MT for fy 2020

  

 

Price Chart: 

About the Company :

 

Since 2019, Wilmar Sugar Holding Pte.Ltd has become the holding Company by acquiring 58.34% of stake

 

Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The Company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world. 

Sugar: The Company operates seven sugar mills in India with a total crushing capacity of 7.1 MTPA or 37,500 TCD and two port based sugar refineries with capacity of 1.7 MTPA.

 

Ethanol: The Company manufactures fuel grade ethanol that can be blended with petrol. Distillery capacity is 930 KLPD (630 KLPD from molasses to ethanol and 300 KLPD from rectified spirit to ethanol).KBK Chem-Engineering (100% subsidiary) facilitates turnkey distillery, ethanol and bio-fuel plant solutions

 

Power:The Company produces power from bagasse (a sugar cane by product) for captive consumption and sale to the state grid in India. Total Cogeneration capacity is 242 MW with exportable surplus of 135 MW.

 

Segment

FY 19

Contribution % Amount (Rs. Crs)
Sugar 77.16 3689.37
Ethanol 11.06 528.63
Co Generation 8.46 404.49

 

Recent News: 

In a regulatory filing on June 3, the company said its board approved the proposal for raising funds from its holding company Wilmar Sugar Holdings through external commercial borrowings (ECB) to refinance existing debts.

“The board also passed resolutions for increasing the borrowing limits under Section 180(1)(c) of the Companies Act, 2013 (the Act) from the existing Rs 6,000 crore to Rs 10,000 crore, and the corresponding limits for creating a charge on the assets of the company to secure such borrowings under Section 180(1)(a) of the Act,” the company said.

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