Updates
Pursuant to Regulation 30 and any other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please take note that the Registrar of Companies, Bangalore vide its enclosed Order dated 17th August, 2017 has approved extension of 3 months for holding the Annual General Meeting of the Company for the financial year 2016-17. You are requested to please take the same on your records. Change in Auditors
Pursuant to the provisions of Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please take note that the Board of Directors of the Company, at its meeting held today i.e. on 12th August, 2017, upon recommendation of the Audit Committee has approved the appointment of S R B C & Co. LLP (Firm Registration Number 324982E/E300003), as Statutory Auditors of the Company from... Unaudited Financial Results For The First Quarter Ended 30Th June, 2017
Pursuant to the provisions of Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please take note that the Board of Directors of the Company, at its meeting held today i.e. on 12th August, 2017, upon recommendation of the Audit Committee has approved the appointment of S R B C & Co. LLP (Firm Registration Number 324982E/E300003), as Statutory Auditors of the Company from...
Renuka Sugars and risk inherent in chasing rapid growth
Growth, often cited as the main goal of business, may not always be the best way to sustainit specially when growth isn't matched by a corresponding increase in return on invested capital Notice Of Intimation Of Board Meeting
Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please take notice that a Meeting of the Board of Directors of the Company will be held at the Corporate Office of the Company at Mumbai, on Saturday, August 12, 2017, inter-alia, to consider, approve and take on record the Standalone Unaudited Financial Results of the Company for the first quarter ended June 30, 2017; and to fix date, place... Notice Of The Extra-Ordinary General Meeting
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Notice of the Extra-ordinary General Meeting ('EGM') of the Company scheduled to be held on Thursday, August 24, 2017, at 5.00 p.m. at The Theosophical Society Belgaum Lodge, Gogte Rangmandir Hall (School of Culture), 185, Ramghat Road, Camp, Belagavi 590001, Karnataka. You are requested to please take the above on your records. Wilmar raises stake in Renuka Sugars to 38%
Faced with the interest cost wiping out the entire profit and turning the company therefore into the red for the last four years, promoters of the integrated sugar manufacturer Shree Renuka Sugars (SRSL) have divested a part of their stake in the company to Wilmar Sugar Holdings Pte. Ltd. (WSH), Singapore.WSH had acquired 27.22 per cent, half of promoters' existing stake then in SRSL, at a total consideration of $200 million (Rs 1200 crore) in 2014. SRSL has announced a preferential issue of upto 500 million 0.01 per cent compulsorily Convertible Preference Shares (CCPS) of Rs 16.27 each at par to WSH at an investment of Rs 783.96 crore. Narendra Murkumbi, managing director of SRSL said in an interview that the issuance of CCPS is a part of the company's restructuring exercise to which even lenders agreed upon. Post conversion of CCPS upon fully divestment of stake, WSH's stake in the company would go upto 38 per cent with banks' at between 25 and 27 per cent. Promoters' (Murkumbi... Updates
Pursuant to Regulation 30 and any other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, further to our letter dated 27th July, 2017, please find attached our letter dated 28th July, 2017. You are requested to please take the same on your records. Press Release
Further to our letter dated 27th July, 2017, please find attached a copy of the Press Release of the Company in connection with the additional investment in the Company by Wilmar Sugar Holdings Pte. Ltd. (WSH) and a comprehensive debt restructuring exercise of the Company. Outcome of Board Meeting
Pursuant to Regulation 30 and any other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please note that the Board of Directors of the Company at the Board Meeting held today has, subject to the approval of the shareholders of the Company, approved the proposals as per the attachment. The aforesaid Board Meeting commenced at 4.30 p.m. and concluded at 11.55 p.m.