Kolkata: Avadh Sugar & Energy Limited has announced that the installation of incineration boiler and expansion of project at Seohara and Hargaon Distilleries is scheduled to be completed before start of next sugar season. The Board of Directors has also recommended the dividend of Rs.4/- per equity share, subject to approval of share-holders, says a press release.
The Board of Directors of Avadh Sugar & Energy Limited at its meeting held on 22nd June, 2020 took on record the audited Financial Results for the Year and Quarter ended March 2020.
C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said, “Sugar season 2019/20 was a season with lower output after a prolonged glut in previous seasons. During the year, sugar segment experienced growth in its volumes and value amid export framework of MAEQ and MSP support by the Government. Power segment performance was impacted on account of revised power tariffs. The company has produced ethanol from “‘B” heavy molasses, having higher realization.”
The company said the recent exogenous shock faced by the world economies has left an unprecedented impact on various industries. The sugar consumption has been impacted on account of the unprecedented economic and social lockdown. The company believes that Government’s proactive measures to contain the spread of virus and revival in demand will enable them to overcome the challenges.