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Dalmia Bharat acquires Sangli-based sugar plant for $4M

By Bhawna Gupta

  • 03 Sep 2014
Dalmia Bharat acquires Sangli-based sugar plant for $4M

Dalmia Bharat Sugar & Industries Ltd (DBSIL) has acquired a sugar manufacturing plant situated at Sangli, Maharashtra from Maharashtra State Cooperative Bank Ltd, for Rs 24.30 crore ($4 million), as per a stock market disclosure.

The plant which has a cane crushing capacity of 1,750 tonnes crushed per day (TCD), has not been operational for the last seven years.

Currently, Dalmia Bharat has a total cane crushing capacity of 27,300 TCD at its existing plants in Uttar Pradesh and Kolhapur, Maharashtra. This would move to 29,050 TCD when the acquired plan starts again.

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DBSIL scrip closed at Rs 18.70 per share, down 1.32 per cent on BSE in a strong Mumbai market on Wednesday.

In 2011, the diversified firm went through a restructuring where Dalmia Bharat Enterprises Ltd (which has under its fold the cement business) was demerged from Dalmia Bharat Sugar & Industries, which became a pure play sugar firm.

(Edited by Joby Puthuparampil Johnson)

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