Ponni Sugars (Erode) Ltd Overview
Fundamentals of Ponni Sugars (Erode) Ltd
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Financials of Ponni Sugars (Erode) Ltd
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About Ponni Sugars (Erode) Ltd
Ponni Sugars Erode) Limited was incorporated in the year December 1996 in the name of SPB Sugars and chemicals Ltd and later in 2000 to the present name of 'Ponni Sugars Erode Limited'.The company is ... the brainchild of late S Viswanathan, affectionately referred to as SV by his friends & associates, a renowned industrialist of the South. The company is an offspring of Ponni Sugars and Chemicals Ltd (PSCL) under a Demerger Scheme sanctioned by the Hon'ble High Court of Madras on 10th September 2001. In terms of the Scheme, the company took over the business of Erode Undertaking with concurrent transfer of major part of stakeholders' interest in PSCL to the company. The Erode sugar mill was set up with 1250 TCD capacity in 1984 in a record time of 12 months. It achieved full capacity crushing during the very first year of its commercial operation that enabled declaration of a maiden dividend of 10% in that very first year, a record in the annals of sugar industry. It was a trendsetter in mobilising surplus cane during its infancy stage from neighbouring sugar mills and extending crushing season to well above industry average. Its capacity was expanded to 2500 TCD in 1994. The Erode sugar mill has successfully implemented an innovative Lift Irrigation Scheme by bringing in dry lands under cane cultivation, utilizing the effluent discharge of the neighbouring paper mill. This has helped secure multitudinal benefits - providing a dependable and perennial source of irrigation to farmers in the neighbourhood, increase of land value manifold in the region, transforming the livelihood of local rural population, resolving the raw material needs of sugar and paper mills and addressing ecological concerns in effluent dischar Right at its inception, Ponni was structured on the concept of total diversion of bagasse for paper. Accordingly it installed a coal fired boiler and later added a multi fuel boiler in place of conventional bagasse fired boilers. It has a bagasse tie up arrangement with Seshasayee Paper and Boards Ltd for a mutually beneficial and rewarding long term relationship. Ponni is an efficient and quality producer of sugar, catering to both domestic and international markets. It is a venerable partner for villagers growing sugarcane in its neighbourhood. It enjoys cordial relationship with employees. It firmly believes in transparent and fair dealings with all its stakeholders by following sound corporate governance norms both in letter and spirit. Read More
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