The publicly listed Vishwaraj Sugar Industries is to set up a new sugar factory with an investment of about Rs 250 crore to create a crushing capacity of 5,000 tons of sugar cane daily and and 150 kiloliters per day distillery in Belgaum. According to the financial press, the executive director of VSIL, Mukesh Kuman says the plant is to be set up about in Nagve village which is 75 kilometers from the company’s existing plant in Bellad Bagewadi.
At its Bellad Bagewadi site, the company operates a 10,500 tons per day sugar crushing plant accompanied by a 100 kiloliters per day distillery. The addition of 150 kiloliters is almost complete at this site. At the same site there is a 34 MW cogeneration power plant which is being expanded with the addition of another 22 MW capacity. Consent from the state pollution board is awaited to start operation of the added capacities, according to Kumar.
VSIL expects the new 150 kiloliter per day to be operational in the second half of February with the approval from the pollution board expected around mid-February. The investment is of approximately Rs 225 crore for the dual-feed stock plant that can distill molasses as well as grain-based inputs.
The work on the proposed new plant at Navge village in Belgaum will start in the next financial year beginning in April 2025. The investment of about Rs 250 crore will come from a mix of debt and equity for the company which is publicly listed on the stock exchange with a current market prices of Rs 13.44 at closing on 28 January 2025.
In the 2024-25 financial year, VSIL has reported that in the first half ending September 2024, the company’s losses increased to Rs 39.12 crore compared to a net loss of Rs 20.57 crore in the same period in the previous financial year. Its total income of Rs 194.03 crore in the first half of FY 2024-25 decreased by 30% compared Rs 279.75 crore in the first half of FY 2023-24.
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Naresh Khanna – 10 February 2025
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