Vishwanath Sugar Industries Ltd, a Belgaum-based company primarily into the production of sugar, alcoholic spirits by distillation including ethanol, and blending and bottling of Indian Made Foreign Liquor (IMFL), has now decided to enter the capital markets to fund its expansion plan.
The company has filed DRHP (draft red herring prospectus) with SEBI for this purpose. The proposed IPO aims to raise Rs 374 crore through the book-building route. Ashika Capital Ltd is the sole book running lead manager for this IPO.

The company is promoted by the Katti’s, Umesh Katti (District in charge minister for Belgaum) and Ramesh Katti his younger brother who is a member of Parliament.

The company has an integrated sugar production facility located at Bellad Bagewadi, Belgaum district, in north-west Karnataka, which has been classified as a high recovery zone for sugar production by the Government of India.

Plans are underway to expand its integrated production facility situated in Belgaum district from the proceeds of the proposed public issue. The expansion plan involves increasing the sugarcane crushing capacity from 5500 TCD to 11000 TCD. The company further proposes to install a new boiler of 150TPH capacity of 110 kg/cm2 pressure and a suitable turbine to its co-generation unit to enable it to have a total installed power generation capacity of 66.40 MW.

From the proceeds of the issue, the company also proposes to deploy a part of the funds as capital expenditure to expand the capacity of its distillery from the present 35 KLPD to 100 KLPD leading to an increase in its IMFL production capacity from 2,500 boxes per day to 5,000 boxes per day.

For the year ended March 31, 2011, the company had a total income of Rs 47,496 lakh and net profit after tax of Rs 4,300 lakh as compared to total income of Rs 41,528 lakh and net profit after tax of Rs 1,795 lakh for the year ended March 31, 2010.

Read more about the Kattis…

QuEST Global, a leading pure play engineering & manufacturing major, joins hands with Aubert & Duval SA, France (A&D) and Setforge Société Nouvelle S A S, France (Setforge) to establish a forgings manufacturing company, SQuAD Forging India Private Limited (SQuAD). The new joint venture forging entity will tap into segments including Aerospace & Defense, Oil & Gas, Automotive and Industrial, capitalizing on the existing network of customers of QuEST Global, Setforge and A&D.

The new entity will be located within the QuEST Global SEZ in the Belgaum area, specifically established for Precision Engineering and Manufacturing. The facility will initially have a size of about 50,000 sq. ft with planned roadmap for growth to meet market requirements.

SQuAD Forging India Private Ltd is a tripartite Joint Venture company for closed die forgingIn India. The JV structure has an equal distribution among the partners Setforge Societe Nouvelle S.A.S. (FARINIA Group, France), QuEST Global Manufacturing Private Limited, India and Aubert & Duval SA (ERAMET Group, France).

SQuAD primarily aims at the aerospace market to support major OEMs in their supply chain while contributing to their offset obligations. It will focus on aero structural parts, landing gear and braking system components in aluminium, steel, titanium or nickel base alloys. SQuAD will also handle products for other markets such as highly critical parts for automotive, power generation and oil & gas.
This greenfield closed-die forging facility will be set up in Belgaum SEZ. It includes a screw press, a hydraulic press and all the associated heat treatment, inspection and finishing equipment, representing a total investment over $ 10 million. Additional value will be provided by Quest Global Manufacturing local machining operations. Production will start beginning of 2013. The facility will forge small and medium-size parts in aluminum, steel, titanium and nickel based alloys. Target markets are : the aerospace (for structural components, landing gear or braking systems), the automotive, power generation, and oil & gas. This investment will also support the aerospace OEMs by contributing to their offset obligations.

Narendra Murkumbi, MD, Shree Renuka Sugars, was the ‘Entrepreneur of the year’ award at The Economic Times Awards, 2010. A year later, his company has lifted ET’s ‘Emerging Company of the Year’ award. The company has just completed a successful turnaround and of two loss-making sugar companies it acquired in Brazil a little over a year ago.

Since takeover in March 2010, Renuka Vale do Ivai notched its fifth straight quarter of profits while Renuka do Brasil (formerly Equipav), acquired in July 2010, posted its first quarter of profit recently. In the nine months ended June 2011, Renuka’s Brazilian operations contributed 65% to the company’s bottom line of Rs 186 crore. What’s more, the turnaround was effected with the same set of employees at the four mills in Brazil.

]]> http://allaboutbelgaum.com/business/renuka-sugars-ets-emerging-company-of-the-year/feed/ 0 http://allaboutbelgaum.com/business/ban-on-mining-in-bellary-hampers-foundries-of-belgaum/ http://allaboutbelgaum.com/business/ban-on-mining-in-bellary-hampers-foundries-of-belgaum/#comments Fri, 09 Sep 2011 11:35:29 +0000 Editor http://allaboutbelgaum.com/?p=22205

Belgaum happens to be number one among the casting producing centres in the state and one among the first ten highest producers of castings in the country.

Having more than 140 foundries in the range from small, medium and large scale industries, Belgaum produces more than one lakh tonnes of casting every year which is valued about more than Rs 500 crore.

But after the supreme court ban on the mining in Bellary an acute shortage of sponge iron and pig iron. The shortage has also seen an increase of the prices.

Belgaum in hall of fame for foundries

It boasts of industries like Ashok Iron Works, Polyhydron, BEMCO and others. These industries manufacture products for major units like Mahindra and Mahindra, Telco, Bajaj, Kirloskar Group, BHEL, Kirloskar Electric, Siemens, Crompton Greeves and others.

Over a period of four decades, the foundry industries here have not developed as expected. Lack of infrastructure facilities, advanced testing facilities, pollution and age old technology have become hurdles for Belgaum foundries. BFC was formed in 2004 with an objective to support the foundries in and around Belgaum. This is the only Foundry Cluster in the country and has facility to reclaim the sand to the tune of 10,000 tonnes per month. BFC has many other facilities like quality testing laboratory, common tool room facility, common effluent treatment plant and more.

What is the most bad part of birthday or a anniversary? Not planning the celebrations or partying but what gift to give?

With changing times, now one can have a host of options of gifting that too with a personal touch.

Like giving your wife a Crystal frame with a photo of you both on her anniversary, and yes this is quite cheaper than the diamonds for sure.

Or it is the neighbors kids birthday and what do we give him, well you could just gift him a Mug with his photo or a tshirt.

You have a meeting with a prospective buyer and you wanted to gift him something, you can gift a mug/ Crystal frames with your company logo as a gift which will also help in brand building.

And to get all this done you dont have to go anywhere else but just visit the trusted name in Photography in Belgaum for over decades, the Subhash Photos Deshmukh road, Tilakwadi branch.

At Subhash Photos you will get a entire range of gifting options which can be personalized.

As all these products are customized one can get them done in a day with any photo they want with special effects as well.

As this is quite new and the variety of products on offer is large and once can certainly make a choice of a gift for any occasion.

So may it be Valentines day or fathers day or mothers day or Rakhi or Diwali you have an option of a special unique gift, which for sure no one else will have gifted.

Happy Gifting !!!

Firefox Bikes, India’s leading biking brand opened its 77th Bike station in the city for the cycling enthusiasts at Infinity studios, Opp. Millennium gardens, Shukurwar Peth, Tilakwadi Belgaum.

The new bike station will cater to the biking needs of the city people and has a range of more than 70 bike models, covering the entire spectrum of Mountain, All Terrain Bikes, Road Bikes, BMX and kids bikes designed in the UK and manufactured in selected factories in the Far East. Firefox Bike Station also brings some of the globally popular brands that include Trek, Gary Fisher and Popeye brands to the city.

The regular bike ranges from Rs.3,000 to Rs.20,000; the bike station also has competition bikes starting 30,000 upwards.

All excited Mr. Shiv Inder Singh, Managing Director, Firefox Bikes Pvt. Ltd said, “We have studied the market and its certainly favorable for the biking sector. We are targeting good sales in the first year of operations here in Belgaum”.

Local Firefox Bikes Franchisee Mr. Dipen Shah, Partner, Infinity Studios, said, “To be associated with Firefox gives enduring gratification; and I am sure the people of the city will surely enjoy world-class bikes which provides high-class technology, consistent quality and effective after-sales service”. Belgaum is a potential market and starting this store is a concept selling.

Firefox bikes has 77 outlets across 30 cities in all major cities in India that includes Delhi & NCR, Mumbai, Hyderabad, Chandigarh, Goa, Kochi, Udaipur, Pune, Amritsar, Ahmedabad, Chennai, Bangalore, Jaipur, Andhra Pradesh; now adding one more to the Heritage city of Karnataka and one in Bhutan.

The store also houses brands in car accessories and car audio like Polk audio, Memphis, kc lites, Stanley, Petes performance.

Kalyan Jewellers, a noted jewelery brand based from Kerala has opened its Belgaum store today in the presence of its brand ambassador Shivraj kumar.

The store boasts of 10,000 sq.feet spread over 3 floors on Khade Bazar. The exact location is earliers Perfect Medicals.

Belgaum Chamber of Commerce and Industries (BCCI) along with MP Mr.Suresh Angadi plan to meet various Union ministers in New Delhi from November 22-25.

Although appointments have been seeked with various ministers official confirmations have yet to be received.

The team will place forth issues faced by Belgaum district which mainly include aviation, food processing, finance, railways and trade and commerce. They also plan to meet FICCI head. BCCI will take up the mater of resuming flights from Belgaum with the civil aviation ministry. Rail connectivity and increase in frequencies of few trains is also on the agenda along with setting up of food park etc.

The team comprises Mr Jaideep Siddannavar (President), Mr Basavaraj Javali (First Vice-President) and Mr Panchakshri Chonnad (Second Vice-President), Mr Mallikarjuna Jagajampi (secretary), Uppin and three representatives from small scale industries.

Source: Business line

For Narendra Murkumbi the Belgaum based entrepreneur is seeing all highs this year. After becoming the single largest investor in Brazil he has won the Economic Times awards for corporate excellence 2010.

Narendra Murkumbi, the managing director of Shree Renuka Sugars, was chosen the Entrepreneur of the Year for his success in an industry where the influence of politics hangs heavy. The 39-year-old co-founder of the company aims to do in sugar what LN Mittal did in steel. This year, he bought control of Brazil’s seventh-largest sugar and alcohol company Equipav at 25% lower cost than initially agreed.

India’s biggest sugar refiner, city based Shree Renuka Sugars recently acquired a majority stake in Brazil’s Equipav Group for an estimated $300 million (Rs 14 billion) and now the company has been renamed Renuka do Brasil.

In November 2009, Renuka Sugars had bought Brazil based sugar and ethanol producer Vale Do Iva (VDI) for $82 million.

With these two Shree Renuka Sugars became the biggest Indian investor in Brazil.

Renuka Sugars has seen a transition from an earthy, farmer-owned company named after the local goddess to a swinging multinational with half its assets located abroad.

Chairperson Vidya Murkumbi has still kept the registered office at Belgaum where the legacy all began. She has never been to Brazil, but SRS has reached this peak with her sons vision, Narendra Murkumb, vice-chaiman & managing director of the company.

Narendra is known as the man of hurry, but he always manages to scout for great acquisitions and adding value to his shareholders. With seven manufacturing units in the country, SRS is the biggest sugar refiner.