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Ponni Sugars (Erode) Ltd. Company History and Annual Growth Details

Ponni Sugars (Erode) Limited" 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 and to 3500 TCD in 2012. It commisioned a 19MW Cogeneration plant in 2012.

2004

-Mr. Anubhav Aggarwal stating that he has acquired 525,238 shares aggregating to 6.41% of the share capital of Ponni Sugars (Erode) Limited and his shareholding after the said acquisition stands at 525,238 shares aggregating to 6.41% of the share capital of the company.

2005

-Time Square Investments Pvt. Ltd. has acquired 270000 shares aggregating to 3.29% of the share capital of Ponni Sugars (Erode) Limited.

2010

-Dr. Nanditha Krishna has been appointed as a Additional Director of the Company.

2011

-The Board of Directors have appointed Mr. K. Bharathan as Additional Director effective December 28, 2011 who will hold office till the ensuing Annual General Meeting and be eligible for appointment thereat as director liable to retire by rotation.

2012

-PonniSug(Ero - Cogeneration of Power - commencement of Commercial Production.

-The Company has recommended a dividend of Rs.2.50 (Rupees Two and Paise Fifty) per Equity Share for the financial year 2011-12.

2013

-The company appointed Mrs. Bharti Chhotubhai Pithawalla as Additional Director.

-The company recommended a dividend of Rs. 1.50/- (Rupees One and Fifty Paise) per Equity share.

2014

-The company recommended a dividend of Re. 0.60 (Sixty paise only) per Equity Share.

2015

-Ponni Sugars (Erode) Ltd has decided to provide direct subsidy to sugarcane growers.

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