Bajaj Hindusthan Sugar

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Sugar major Bajaj Hindusthan Sugar Ltd on Monday reported a consolidated net loss of Rs 58.36 crore in the third quarter of this fiscal year on higher expenses. Its net loss stood at Rs 164.53 crore in the year-ago period. Total income rose to Rs 1,433.54 crore in the October-December quarter of 2022-23 financial year from Rs 1,261.33 crore in the corresponding period of the previous year, the company said in a regulatory filing. Bajaj Hindusthan Sugar posted a net loss of Rs 265.64 crore during the first three quarters of this fiscal year as against a net loss of Rs 327.26 crore in the year-ago period. Total income rose to Rs 4,301.24 crore during April-December period of this fiscal year from Rs 3,966.22 crore in the corresponding period of the previous year. Bajaj Hindusthan Sugar Ltd, which is part of the Bajaj Group (Kushagra), has 14 sugar plants, all located in Uttar Pradesh. The plants have an aggregate sugarcane crushing capacity of 1,36,000 tonnes crushed per day and .

There are no overdues in our account and the account is fully regular with all the lenders as on date, the Bajaj Group company said.

At a time when growth in bank credit is outstripping that of deposits, several lenders, including the country's largest bank, State Bank of India (SBI), have raised deposit rates ahead of the festival

The sugar and ethanol producer owes nearly Rs 4,800 crore to banks

Bajaj Hindusthan badly needs money to shore up its operations but its NPA tag to make raising funds difficult

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Bajaj Hindusthan has defaulted to banks, UP farmers; says restructuring proposal is in accordance with RBI circular of June 7, 2019

The government reduced the export subsidy from Rs 5.85 / kg to Rs 4.0 / kg on any sugar contracted for export on or after May 20, 2021

Export subsidy announcement a positive but high valuation could restrict gains

The company holds 1,54,39,900 shares of Rs 10 each, constituting 17.51 per cent of the paid-up capital of LPGCL

The promoters of Bajaj Hindusthan Sugar will cut their stakes to 15.43 per cent from 26.02 per cent by selling a part of their shareholdings to the lenders

Company says proposal for sale of its co-generation power business has been shelved