EID Parry (India) Limited
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BSE Code:
500125
NSE Code:
EIDPARRY
Business Profile
Business Profile
EID Parry India (EIDPARRY) with its subsidiaries and joint ventures operates in the sugar, bio-products, sanitaryware, chemical fertilizers and nutraceutical sectors. Established in 1788 in Tamil Nadu, the company was incorporated on Sep. 22, 1975 and taken over by the Murugappa group in 1981.
The company manufactures sugar at five units with a combined crushing capacity of 15,800 (TCD) metric tons of cane a day. The Pudukottai and Nellikuppam units are ISO 14001 certified. The company also has 18 MW and 22 MW co-generation plants in Pudukottai and Pugalur. It has a joint venture agreement with Cargill Asia Pacific Holdings (Cargill) to set up a stand-alone sugar refinery in Kakinada. The company has manufacturing units to straddle the entire value chain of the distillery from industrial alcohol and rectified spirit to extra neutral Alcohol (ENA) and fuel ethanol production.
The joint venture with Roca Sanitario operates the sanitaryware business with plants being ISO 14000-1996 certified. The bio-pesticides division produces neem-based bio-pesticides with the Neemazal range of products and has also launched Avana, a neem-based bio pesticide granule.
The nutraceuticals division manufactures and markets the brand Organic Spirulina to over 35 countries. Parry Nutraceuticals became a wholly-owned subsidiary of the company in 2007. The brand Organic Spirulina has five quality certifications and three organic certifications to its credit. The company has purchased patents in USA, Australia, Canada and Japan till 2012 for exclusive marketing of bio-products and till 2012 for process and 2020 for formulations.
The subsidiaries of the company include Coromandel Fertilisers, Parry Chemicals, Parrys Sugar, Parry Infrastructure Company, Parry America, Parrys Investments, and Coromandel Bathware.
The registered office is at Dare House, Parry`s Corner, Chennai-600001, Tamil Nadu.
Financials
The company disclosed that loss for the quarter ended in December 2008 has narrowed. Net sales for the quarter declined 62.12% to Rs 747.30 million, while total income for the quarter dipped 62.63% to Rs 842.3 million, when compared with the prior year period. It posted earnings of Rs 1.84 a share during the quarter, registering 0.00% decline over previous year period.
Recent Developments
16-MAR-09
The board of directors of the company at their meeting held on Mar. 16, 2009, decided to declare an interim dividend of 500% at Rs 10 an equity share of Rs 2 each fully paid on the equity capital for the financial year 2009.