Uttam Sugar Mills Ltd Share Price

History of Uttam Sugar Mills Ltd

Uttam Sugar Mills Limited was incorporated on October 4, 1993 as 'Associated Sugar Mills Limited'. Initially, the company was promoted by M K Swarup and his family. In the year 1998, Uttam Group acquired the 100% shareholding in the company from the erstwhile promoters and gained overall control of the company. Subsequently, the name of the company was changed from Associated Sugar Mills Limited to Uttam Sugar Mills Limited with effect from November 24, 1998. Presently, the Company operates in the sugar industry and manufacture white sugar. They belong to Uttam Group of Companies promoted by the Adlakha family. The Company has four sugar plants out of which three plants are in Uttar Pradesh and one plant is in Uttarakhand. These plants have an aggregate sugarcane crushing capacity of 26 ...,200 TCD per day. It also produces 'Ethanol' at its Barkatpur and Libberheri Plant and having aggregate installed capacity of 300 Kilo Litres Per Day (KLPD). In order to reduce dependence on sugar sector cyclicality, the company has diversified into ethanol production. The Company is also having co-generation facility of 122 MW capacity producing power from Bio- mass. In January 2001, the company set up their first sugar unit at Roorkee, Uttarakhand for manufacturing sugar using double sulphitation process with a capacity of 2500 TCD along-with cogeneration facilities of 6 MW of power. In November 2001, they expanded the capacity to 4000 TCD by installing additional cane loaders/ un-loaders, increasing the length of cane conveyor, adding certain evaporator bodies, centrifugal machines etc. In November 2002, the company further expanded their capacity to 5000 TCD along-with additional co-generation facility of 3 MW. In the year 2004, they further increased their installed capacity to 6250 TCD and upgraded their production process to the present Defeco Remelt Phospho Floatation process along with the expansion of co-generation facility to 16 MW of power. In the year 2005, Shubham Sugars Ltd ceased to be subsidiary of our Company with effect from September 15, 2005. In December 2005, the company set up their second unit with 3500 TCD and 10 MW cogeneration power plant in Nazibabad, Uttar Pradesh. During the year 2005-06, the company completed their maiden public issue of 40,00,000 equity shares of Rs 10 each at a premium of Rs 330 per share aggregating to Rs 1360 million. Their shares were listed on the Bombay Stock Exchange and National Stock Exchange. In November 2006, the company set up their third unit at Muzzafarnagar in Uttar Pradesh with the capacity of 4500 TCD and commenced commercial production. During the year 2006-07, the company set up their fourth unit at Saharanpur in Uttar Pradesh with the capacity of 5000 TCD and commenced commercial production. During the year 2009-10, the company increased the production capacity of Molasses by 1000 TCD to 23750 TCD. During the year, the company crushed 25.251 million quintal of sugarcane and produced 2.434 million quintal of sugar. During the year, the company produced approximately 13 lakh quintal of molasses and 1,247 lakh kilowatt hour units of power. Also, they exported approximately 317 lakh kilowatt hour units of power to Uttar Pradesh Power Corporation Ltd and Uttaranchal Power Corporation Ltd. The Company in 2011-12, commissioned Distillery Plant with an installed capacity of 75 KLPD at Barkatpur factory in State of Uttar Pradesh and made it operational in 2012. The Bagasse Dryer was installed at Barkatpur Unit during 2015-16. In 2018-19, the Distillery Plant capacity of Ethanol was enhanced from 75 KLPD to 150 KLPD at the Barkatpur Unit. Apart from Incineration Boiler, MEE (Multi Effect Evaporator) and 10 MW Turbine was installed at Barkatpur Distillery Unit in 2019-20. In 2021-22, the Company commissioned Second Distillery Unit with installed capacity of 50 KLPD at Libberheri, in Uttarakhand, installed Incineration Boiler at Barkatpur Unit to increase production of Ethanol in 2022, expanded the capacity from 6250 TCD to 7000 TCD at Libberheri Unit in 2023, expanded the capacity at Barkatpur Unit from 7000 TCD to 8500 TCD, expanded the capacity from 4500 TCD to 4700 TCD at Khaikheri Unit in 2023. Company has increased the installed cane crushing capacity at Khaikheri from 4700 TCD to 5500 TCD in 2024-25.