Dwarikesh Sugar Industries Ltd. declares interim dividend of Rs. 2 per share (200%) for FY22
Mumbai, 01st April, 2022:The Directors of Dwarikesh Sugar Industries Limited have announced an interim dividend of Rs. 2 per share (200%) for the financial year 2021-22. The company had announced a full and final dividend of Rs. 1.25 per share (125%) for the previous financial year.
“We are pleased to consider rewarding our shareholders with an interim dividend for the current financial year,” says Mr Vijay S Banka, Managing Director of the company. “This follows an improvement in our performance during the current financial year so far and a commitment of our management to reward our shareholders without compromising its capacity to reinvest its accruals to enhance business sustainability.”
The company had earlier made a decisive investment in its distillery business at its distillery unit in Dwarikesh Nagar (DN) which has now been debottlenecked to produce 162.5 KLPD of industrial alcohol. The company is presently engaged in executing a 175 KLPD distillery project at its Dwarikesh Dham (DD) unit which is expected to be commissioned by the end of first quarter of the next financial year. The setting of new distillery will be a new milestone in the history of the company as its operations will be seamlessly & optimally integrated. Setting up of new distillery will improve the sales mix, as it will result in moderation of sugar production while enhancing ethanol production and thus help augmentation of its top-line & bottom-line.