Vishwaraj Sugar Industries to produce pharmaceutical grade sugar

Company was issued a test report from an NABL accredited laboratory stating that the sugar produced by the company meets the criteria of Pharmaceutical Grade Sugar

Vishwaraj Sugar Industries, an integrated sugar company producing sugar, power and ethanol, has informed the Stock Exchanges that it will produce Pharmaceutical Grade Sugar using its Patented Technology after it was issued a test report from a NABL accredited laboratory stating that the sugar produced by the Company meets the criteria of Pharmaceutical Grade Sugar. The company has a state-of-the-art R&D Centre having the latest technologies and it is in the process of supplying this Pharma Grade Sugar to leading pharmaceutical companies in India and also plans to export it all over the world. It has also commenced production of refined grade sugar, meeting the specifications as prescribed in IS 1151, 2021 version. 

The recent decision by Government to lower the GST rate to 5 per cent from 18 per cent on ethanol meant for blending under the Ethanol Blended Petrol (EBP) programme would be beneficial for sugar companies and Vishwaraj would also be one of them. This will have a positive impact on the company’s finances going ahead. 

Earlier, Vishwaraj Sugar Industries (VSIL) had entered into contracts with oil marketing companies (OMC) namely Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) for the supply of 2.50 crore litres of ethanol worth Rs 155 crore commencing from December 2021.  

With the higher ethanol supply and increasing sugar production, Vishwaraj Sugar aims to clock a turnover of Rs 500 crore in March 2022 against Rs 426 crore last year. 

The company is expanding its distillery unit by 150 KLPD capacity at an estimated cost of Rs 150 crore at the Belgaum district in Karnataka. After the expansion, the total Ethanol capacity with the company will be 250 KLPD, the environment clearance for the same is expected to be received by February 2022. 

The company has also drawn up Rs 250 crore expansion plans for setting up of greenfield sugar factory along with a distillery facility in Karnataka. Vishwaraj Sugar Industries is an integrated sugar company producing sugar, power and ethanol. The company manufactures Distillery products like Rectified Spirit, Anhydrous Ethanol and Extra-Neutral Spirit from molasses and Sugar Syrup.