1993 - The Company was Incorporated on 26th February, at Jalandhar
in Punjab and was promoted by Nahar Spinning Mills Ltd. and
its associate Companies of the OWM Group and PSIDC.
- The Company undertook to set up a 2500 TCD capacity sugar
expandable to 3500 TCD for manufacture of white crystal sugar
with facilities for cogeneration of power upto 5 MW. Land
admeasuring 94.78 crores was acquired at Salana Jeon Singh
Tehsil a notified backward area in Amloh district of Punjab.
Sijcon Pvt. Ltd. Ahmedabad were appointed as architects for
project. Also, the Company entered into a contract with M/s.
Triveni Engineering Works Ltd., New Delhi for supply of 2500
capacity sugar plant expandable upto 3500 TCD. The Company
adopted the double sulphitation process.
1995 - The Company crushed 416,726 tonnes of sugar cane in 167 days
against 219037 of sugarcane crushed during 126 days. 37,084
tonnes produced in the previous year. Despite these turnover
amounted to Rs 40.54 crores registering a lower level of
profitability mainly due to reasons such as hike in input
lower sugar recovery and sustaintial fall in the realisable
value of molasses.
- 700 Equity shares subscribed for Memorandum of Association.
176,00,000 Equity shares of Rs 10 each were issued at a
of Rs 15 per share during January 1994. Of these 88,00,000
were reserved and allotted on a firm basis to Nahar Spinning
Mills Ltd. and its associate companies. Of the balance, the
following were reserved for allotment on a preferential
(i) 8,00,000 shares to NRIs on repatriation basis: (ii)
shares to FIIs including Mutual Funds, (iii) 8,00,000 shares
Indian Mutual Funds, (iv) 8,00,000 shares to the shareholders
promoting companies (v) 4,00,000 shares to employees
Indian Working directors)/workers of the Company/promoting
companies. Remaining 56,00,000 shares were issued to the
(all were taken up).
1996 - The Company crushed 366,268 tonnes of sugar cane and produced
33,849 tonnes of sugar. Sugarcane crushing was lower due to
lower availability to cane and breakdown of boiler. However,
average recovery of sugar was higher at 9.24% as against 9.06%
the previous year. Turnover rose marginally to Rs 42.99
The company exported 5400 MTs of sugar during the year.
- Delists equity shares Delhi Stock Exchange (DSE) with effect from
September 2, 2004