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Shree Renuka Sugars Ltd. Company History and Annual Growth Details

The Company was originally incorporated as Shree Renuka Sugars
Limited vide certificate of incorporation no. 08-19046 dated October
25, 1995 with Registrar of Companies, Karnataka at Bangalore and
received the certificate for commencement of business on January
5, 1996.

HISTORY AND OTHER CORPORATE MATTERS

OVERVIEW

The Company was originally incorporated as Shree Renuka Sugars Limited
vide certificate of incorporation no. 08-16046 dated October 25, 1995
with Registrar of Companies, Karnataka at Bangalore and received the
certificate for commencement of business on January 5,1996.

The key events in the business of our Company are as follows:

Year Milestone achieved

1998 Acquisition of assets of Nizam Sugars Limited

Our Company bought over the sick unit
(sugar mill), from Nizam Sugars Limited with
an existing capacity of 1,250 TCD and land
admeasuring 135.552 acres situated at
Sudhanagar Sugar Unit, Parigi Mandal, near
Hindupur, Ananthapur District, Andhra
Pradesh. At) the land, buildings, plant and
machinery along with the employees were
taken over by our Company.

1999 Shifting of plant from Hindupur to Munoli,
and enhancement of capacity

Our Company subsequent to purchase of
the mill from Nizam Sugars Limited,
transferred all the plant and machinery along
with the employees to the Munoli Unit at
Belgaum and enhanced the capacity to
2,500 TCD.

1999 Commencement of commercial
production

We started our commercial production of
sugar at the Munoli unit. We entered into a
power purchase agreement with the
Karnataka Electricity Board for sale of
surplus electricity, being 7.55 MW for an
initial period of 10 years from the date of
commercial production and a renewal period
of 20 years at the rate of Rs. 2.25 per kilowatt
hour with escalation at the rate of 5% per
annum.

2000 Commencement of 11.2 MW cogeneratlon plant

We commissioned a 11.2 MW cogeneration
plant for producing electricity from the Bagasse

2002 Commencement of 60 KL distillery at Munoli in Karnataka

We installed a distillery with a capacity of
60 KL at our Munoli unit for manufacture
and production of Ethanol.

2003 Increase in co-generation capacity to 20.5 MW and
setting up 250 TPD sugar refinery at Munoli

We increased our co-generation capacity of
power from 11.2 MW to 20.5 MW by adding
an additional turbine and boiler. We also
installed a sugar refinery at our Munoli unit
with a capacity of 250 TPD.

2004 Expansion of refinery capacity to 1000 TPD

Subsequent to the installation of the 250
TPD sugar refinery and successful
operation, we expanded the capacity to 1000 TPD

2004 Lease for operation of Unit II at Ajara in Maharashtra

Our Company vide a lease agreement with
Ajara Shetkari Sahakari (a co-operative
sugar factory) Sakhar Karkhana Limited
dated October 29, 2004, leased the sugar
factory at Ajara in Maharashtra with a
capacity of 2,500 TCD for a period of two
years until September 26, 2006.

2004 Setting up subsidiary in Dubai

We incorporated and registered Renuka
Commodities DMCC as a Company in the
Free Trade Zone in Dubai, United Arab
Emirates to carry on the business of
wholesale trading of sugar in the
International market.

2005 Lease for operation of Unit III at
Mohannagar in Maharashtra

Our Company vide a lease agreement with
Mohanrao Shinde Sahakari (a co-operative
sugar factory) Sakhar Karkhana Limited
dated July 2005, leased the sugar factory at
Mohannagar village of Taluka Miraj, District
Sangli in Maharashtra with a capacity of
2500 TCD for a period of six years for the
entire crushing season of 2005-2006 to end of crushing
season 2010-2011.

2005 We have entered into a memorandum of understanding (MoU) with
Haripriya Sugar Works Limited to acquire all assets (excluding
receivables) of Haripriya Sugar Works Limited (Haripriya Sugar)
including land admeasuring 162 acres and 29 guntas situated at
village Burlatti (old Kokantur), Taluka Athani, District
Belgaum, Karnataka for a sum of Rs. 40 million. For details,
see 'Objects of the Issue' on page 29 of this Red Herring
Prospectus.

Changes in Registered Office of the Company

The table below shows the changes in the Registered Office of the
Company since incorporation:

Previous Address New Address

1438/2 Kalmath Road, BC 105, Havelock Road,
Belgaum - 590 002. Cantonment, Belgaum - 590 001.

Reasons for Change in Office Date of Change

Shifting of operational office February 23,
due to expansion of facilities. 1996.

Form 18 dated February 23, 1996 for the change in address of the
Registered Office has been filed with the Registrar of Companies,
Karnataka at Bangalore.


2006

-Shree Renuka Sugars Ltd has informed that there has been a change in Company's Board of Directors, consequent to the withdrawal of nomination of Institutional Nominee Director, Mr B S Parashivamurthy, by IDBI w.e.f. October 23, 2006.

-Shree Renuka Sugars enters into MoU with Copersucar, Brazil

-Shree Renuka joins hand for Munoli project

2007

-Shree Renuka Sugars Limited has appointment Mr Nitin Puranik as Whole Time Director of the Company w.e.f. 20th April, 2007.

2008

-Shree Renuka Sugars Ltd has signed a Memorandum of Understanding (MOU) with Hindustan Petroleum Corporation Ltd., (HPCL) for formation of a Joint Venture Company (JV) for the purposes of setting up of an Integrated Sugar and Ethanol Plant in the State of Maharashtra.

- The Company has splits its face value from Rs10/- to Rs1/-.

-Shree Renuka Sugars acquired 87pc stake in Gokak Sugars

2009

-Shree Renuka Sugars Ltd has informed BSE that the Company has acquired 5% equity stake in National Commodity & Derivatives Exchange Ltd (NCDEX) from Intercontinental Exchange Holdings and Goldman Sachs Investments (Mauritius) I Ltd. for a total consideration of Rs. 36.50 crores.

-Shri Renuka Sugars acquires Brazilian VDI
 
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