Jul 28, 2017 12:18 PM IST
Confirming the news that Wilmar Sugar would be infusing around Rs 813 crore into Shree Renuka Sugars via convertibles at Rs 16.27 per share., Managing Director Narendra Murkumbi told CNBC-TV18 said the main intention behind this to reduce the debt of the company.
- May 25, 2017 12:32 PM IST
Higher FRP is not impacting costs at current levels of sugar prices but it becomes challenging when sugar prices drop because FRP once increased never brought down, said Abinash Verma, Director-General, ISMA.
- Mar 20, 2017 12:22 PM IST
"I do not expect the government to allow prices to spike, I expect that some imports will be required and will be allowed", Narendra Murkumbi, VC & MD of Shree Renuka Sugars told CNBC-TV18.
- Dec 23, 2016 01:25 PM IST
Narendra Murkumbi, Vice Chairman and Managing Director, Shree Renuka Sugars said prices have moved up by about Rs 1 per kg in the last one week on back of news that production will be significantly lower than last season.
- Oct 13, 2016 04:51 PM IST
Speaking to CNBC-TV18 on the impact of the price revision on the industry, Narendra Murkumbi, VC & MD of Shree Renuka Sugars says while the price is just a rupee or two lower on a year-on-year basis, it is beneficial as net realization has become transparent as far as producers are concerned.
- Aug 29, 2016 11:14 AM IST
Speaking about the same to CNBC-TV18, Narendra Murkumbi of Shree Renuka Sugars said the banks were ready to take 70 percent haircut and exit with 30 percent of the face value of the debt.
- Jul 27, 2016 03:35 PM IST
A Brazilian court has approved the reorganisation of the debt of Shree Renuka Sugars' subsidiary in the country. The recast slashes Renuka Vale do lvai's debt by Rs 168 crore, according to Narendra Murkumbi, Vice-chairman and Managing Director, Shree Renuka Sugars.
- Jun 14, 2016 11:14 AM IST
Sugar prices have been on a tear globally as well as India but they have more room to go up further, says Narendra Murkumbi, VC and MD, Shree Renuka Sugars.
- Mar 09, 2016 12:00 AM IST
Speaking to CNBC-TV18, Narendra Murkumbi of Shree Renuka Sugars said that selling price for sugar has moved to positive territory and import demand from China remains strong.
- Feb 24, 2016 11:42 AM IST
Abinash Verma of ISMA says the production this year is estimated to drop to around 260 lakh tonne, compared to 283 lakh tonne last year, due to weak monsoon.
- Oct 07, 2015 10:14 AM IST
Reports suggest that demand for sugar will outstrip supplies in 2015-16, which is indicated in the upward movement of sugar prices. Domestic sugar prices have increased to Rs 25 per kg from Rs 19 per kg in the last few months.
- Sep 29, 2015 10:08 AM IST
Renuka Brazil will be under judicial protection for 180 days after it gets the nod and it will have to present a plan to the court for approval with creditors, says Narendra Murkumbi, VC & MD, Shree Renuka.
- Jun 10, 2015 04:19 PM IST
Reacting to the Rs 6,000 crore interest free loans to sugar companies, Narendra Murkumbi, VC & MD, Shree Renuka told CNBC-TV18 that overproduction is the major problem currently.
- Dec 11, 2014 09:46 AM IST
ISMA director general Abhinash Verma believes the sugar industry will see better realizations with the new price. The industry revenue will increase by nearly Rs 5,000 crore, he adds.
- Nov 19, 2014 12:25 PM IST
Narendra Murkumbi, MD of Shree Renuka Sugars says the subsidy has to be Rs 4-4.5 per kg for it to be viable. He expects the subsidy on exports to be extended by one year.
- Feb 20, 2014 10:08 PM IST
The deal will infuse a capital of Rs 1, 240 crore in Shree Renuka that will help the sugar company bring down its debt ratio to 1:1
- Sep 23, 2013 01:50 PM IST
Sugar cane prices have increased 17 percent on average for the last three years, while sugar prices have been lower by nearly 10 percent year-on-year (YoY).
- Sep 03, 2013 12:38 PM IST
According to Narendra Murkumbi, blending 10 percent ethanol in petrol will reduce sugar surplus by almost one million to one-an-half-million tonne and that will be beneficial for the sugar industry. Overall, manadatory ethanol blending by the government will have dual benefits in terms of new market for ethanol and reducing sugar surplus.
- Apr 05, 2013 10:24 AM IST
Government‘s move to remove sugar levy burden will help Shree Renuka Sugar to get Rs 100-150 crore of additional margin in 2013-14.
- Mar 22, 2013 05:25 PM IST
Shree Renuka Sugar board has agreed for merger, with overseas arm Renuka Commodities DMCC. It is an international trading arm of company and its net worth as on Mar 2012 is Rs 622 crore. DMCC Debt is nil and this will lead to improved debt-equity ratio for the parent company.
- Jan 02, 2013 12:56 PM IST
Narendra Murkumbi, managing director of Shree Renuka Sugars told CNBC-TV18, the company has already produced 8 million tonne sugar the current season and expects to produce another 15 million tonne.
- Nov 21, 2012 11:54 AM IST
Narendra Murkumbi, managing director of Shree Renuka Sugars expects EBITDA margins to be constant because in Maharashtra and Karnataka cane prices move in tandem with sugar prices.
- Nov 20, 2012 04:00 PM IST
M Manickam, MD of Sakthi Sugars discusses the possibilities in the sugar-pricing and why he thinks Rs 25-26 is the most comfortable range.
- Mar 28, 2012 01:00 PM IST
An Empowered Group of Ministers (EGoM) has allowed sugar mills to export an additional 10 lakh tonne in 2011-12 under open general licence (OGL). Shree Renuka Sugars is hoping to export atleast 2 lakh tonne more under the new system.
- Jan 11, 2012 03:26 PM IST
According to the managing director of Shree Renuka Sugars, Narendra Murkumbi, production for the year is going to come in between the government’s and industry’s estimates.