Dhampur Sugar (Kashipur) Ltd - 502512

Name of Company	Dhampur Sugar (Kashipur) Ltd
BSE Code	502512
NSE Code
ICICI Code
Established	1972
My Take	So-So
Headquarters	Bareilly, UP
Promoters
Story	Started as a paper and straw board manufacturer in 1986. In 87, took over a sugar mill. In 89, acquired a paper mill. Then a few more acquisitions and expansions. 7 Cr market cap at Rs. 4.5 cost.
Sector	Sugar
Sub-sector
Website
Positives	58% promoter holding. No consistent revenues.
Negatives	No consistent profits.
Peers
News

Bannari Amman Sugars - 500041

Name of Company	Bannari Amman Sugars
BSE Code	500041
NSE Code
ICICI Code
Established	1983
My Take	So-So
Headquarters	Coimbatore
Promoters
Story	Has sugar factories in Karnataka and Tamil Nadu. 55% promoter holding.
Sector	Sugar
Sub-sector	White Sugar, Industrial alcohol and granite
Website	http://www.bannari.com/
Positives	Regular dividend payer, at present price of Rs. 867 expected yield is 0.7 %. Has always been profitable even in worse year of FY08. Good reserves of 540 Cr.
Negatives
Peers	BHSIL, Bajaj Hind, Sakthi Sug, Uttam Sug, Renuka
News

Shree Renuka Sugars Ltd - 532670

Name of Company	Shree Renuka Sugars Ltd
BSE Code	532670
NSE Code
ICICI Code
Established	1998
My Take	Like
Headquarters	Belgaum, Karnataka
Promoters	Murkumbi family
Story	3500 Cr market cap at Rs. 53. Operates crushing facilities in Mah/Kar. In 1998, bought ailing Nizam sugars. Setup co-generation facilities, sugar trading subsidiary in Dubai, leased operation of sugar manufacturing units. Acquired 5% in NCDEX in 2009. In 2009, also acquired Brazil based VDI (sugar and ethanol manufacturing unit).
Sector	Sugar
Sub-sector	Sugar, alcohols
Website	http://www.renukasugars.com
Positives	Regular dividend paying company (even in 2008, company paid 0.2 as dividend). Signed MoU with BPCL for setting up integrated sugar and ethanol plant. Dividend yield expected at Rs. 53 is 2% or more. Largest sugar refining capacity at 4K tpd.
Negatives	At 53, very near the 52-week low. Annual P/E of 4.7.
Peers	BHSIL, Bajaj Hind, Sakthi Sug, Uttam Sug
News	Buying VDI

Shree Renuka Sugars Buys Brazil's VDI - 532670

MUMBAI -- India's Shree Renuka Sugars Ltd. said Wednesday it has acquired Brazil's Vale Do Ivai S.A. Acucar E Alcool for about $82 million, giving the Indian company an entry into the world's largest sugar producing and exporting country.


Shree Renuka Sugars will also take over the Brazilian sugar and ethanol producer's debt, which is to be repaid over eight years. The Indian company said the buyout has received approval from VDI's leading creditors and that the acquisition will be completed over the next 45 days.

In its statement to the Bombay Stock Exchange, the Indian company didn't specify how much debt was taken on.

Shree Renuka Sugars said the acquisition gives it an opportunity "to grow and expand its production base in the centre-south region of Brazil."

VDI, which has an enterprise value of $240 million, has a cane crushing capacity of 3.1 million metric tons a year through its two sugar and ethanol production facilities.

Shree Renuka Sugars has an annual cane crushing capacity of about 7 million tons, according to a company executive, who didn't want to be named.

Motilal Oswal Investment Advisors is acting as strategic advisor to Shree Renuka Sugars for the acquisition, the statement added.

Bajaj Hindusthan Sugar and Industries Ltd 507500

Name of Company	Bajaj Hindusthan Sugar and Industries Ltd
BSE Code	507500
NSE Code
ICICI Code
Established
My Take	Dislike
Headquarters	Mumbai
Promoters	Bajaj group, 75% owned by Bajaj Hindusthan
Story	10 sugar manufacturing facilities in UP. Annual revenues of 415 Cr in FY09.
Sector	Sugar
Sub-sector	Manufacturing sugar
Website	http://www.bajajhindusthansugar.com/
Positives	<200 Cr market cap at Rs. 16. Dec 09 Qtr profit was just 1.29 Cr. 300 Cr reserves. Revenues have grown from 48 Cr in FY05 to 415 Cr in FY09.
Negatives	Consistently making losses every FY (as far from as FY05).  Cannot expect any dividend.
Peers
News

Bajaj Hindusthan Ltd 500032

Name of Company	Bajaj Hindusthan Ltd
BSE Code	500032
NSE Code	BAJAJHIND
ICICI Code
Established
My Take	Like
Headquarters	Mumbai
Promoters	Bajaj group (Shishir Bajaj is CMD)
Story	India's largest sugar manufacturer. 2000 Cr market cap company (at rs 110). Owns 75% of Bajaj Hindusthan Sugar and Industries (507500). Completely owns Bajaj Energy Pvt Ltd. The company is setting up SPV to setup 430 MW thermal power plants . The company has 14 sugar plants (10 are owned by BHSIL) with a total crushing capacity of 136K tcd (tones crushed per day). Manufacturing 800K ltrs of alcohol, BHL is India's largest ethanol producer. Wholly owned Bajaj Eco-tec manufactures completely wood-free MDF/PB boards from bagasse waste.
Sector	Sugar
Sub-sector	Manufactures sugar, ethanol, Particle boards, medium density fibre boards.
Website	http://www.bajajhindustan.com/
Positives	Regular dividend paying company with expected yield at 0.5% (at a cost of Rs. 110.  At 110, very near its 1 year low. Regular profits except in FY08. Can expect NPM around 10%. Revenue has doubled from 836 Cr in FY05 to 1780 Cr in FY09. Reserves are huge at 2,250 Cr (25% more than FY09 revenue). This seems like they are waiting for an acquisition/big expansion plans. Ethanol adoption policy by government would be a huge plus for this company as they have largely expanded capacity in that front.
Negatives	Net profit has not done much though from FY05 to FY09 (140 Cr in FY05, 150 Cr in FY09).
Peers	Sakthi, Uttam
News