Sugar and ethanol producer Vishwaraj Sugar Industries Ltd (VSIL) has planned to expand its business by targeting new clientele in the pharmaceuticals, health supplements and nutraceuticals sectors, reports The Economic Times.
As per the media report, Mukesh Kumar, executive director, Vishwaraj Sugar Industries, said, “We are focusing to increase revenue by targeting high-value, high-margin products like Pharma grade sugar and ethanol.”
The company plans to increase ethanol production capacity to 500,000 litres per day and will set up a brownfield ethanol production having capacity of 150,000 litres per day.
It has acquired 110 acres of land to set up a greenfield ethanol production facility. The company is set to invest Rs 250 crore for this project.
The company has posted a 395.68% increase in net profit at Rs 20.67 crore for the nine months that ended December 31, 2021, as against Rs 4.17 crore during the same period last year. The total revenue of the company has increased by 27.62% at Rs 337.86 crore, compared to Rs 264.73 crore during the same period last year.
