Sanwaria Agro Oils net profit up by 139.3 pc at Rs 20.81 cr

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Mumbai, July 15 (UNI) Sanwaria Agro Oils, a leading soya bean processor and producer of refined soya bean oil, has reported a 139.3 per cent increase in net profit at Rs 20.81 crore for the first quarter ended on June 30, as compared to Rs 8.69 crore during the corresponding period last year.

The Company has reported net sales worth Rs 274.34 crore during the current fiscal year as against Rs 148.97 crore during the previous corresponding quarter. On paid up capital of Rs 870.13 lakhs, the earnings per share stand at Rs 2.39 against 0.99 paise in the corresponding period of last FY, a release said here today.

Sanwaria Agro Director Anil Agrawal said the Company is focusing on its premium soyoil brands/value added products, to contribute 10 to 15 per cent of sales in the next one to two years from three to four per cent currently.

Enjoying a market share of five per cent in term of soyabean crushing, Bhopal-based Sanwaria Agro Oils is one of the India's leading seed processing and solvent extraction company. Near to the country's soya belt, the Company has two solvent extraction and refinery units with combined installed Solvent Extraction capacities of 1,500 TPD and Refining capacities of 150 TPD, at Itarsi and Mandideep, both in Madhya Pradesh In order to meet the growing demand for Soy meal and Soy oil, it had leased out additional capacity of solvent extraction of 650 MT per day in October 2007. The Company, with its policy of having a nation wide retail and distribution backbone for its brands Narmada, Sulabh and Sanwaria, is expanding marketing network in northern states like UP, Bihar, Punjab, Haryana and Delhi.

UNI AR RN AG1831

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