KPR Mill will hold a meeting of the Board of Directors of the Company on 3 February 2021.

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The stock had advanced 10.79% in the past six sessions to end at Rs 923.25 on Friday (18 December 2020), from its recent closing low of Rs 833.30 on 10 December 2020.

In the past six months, the stock has zoomed 74.51% while the benchmark S&P BSE Sensex has added 34.76% during the same period.

After market hours on Friday, the company said that it will set up a new sugar mill with higher ethanol capacity to increase revenue and profitability.

The recent structural changes in sugar business like, minimum support price (MSP) for sugar, ethanol augmentation scheme for setting up of ethanol plant with 50% interest subsidy on interest paid for ethanol term loan availed from banks, increase in ethanol blending in petrol and revised ethanol prices, has encouraged K P R Mill to expand its sugar business.

K P R Mill has decided to establish a new sugar mill with sugar capacity of 10,000 tons of cane per day (TCD), power capacity of 47.50 megawatt (MW) and ethanol capacity of 230 kilo litre per day (KLPD).

In the new unit, K P R Mill will be producing higher ethanol capacity to increase revenue and profitability. The company proposes to convert 30% of sugarcane crushed into ethanol during season and during off-season. The firm plans to use molasses to produce ethanol so that entire plant runs on its own sugar juice and molasses.

We are confident that this fully integrated sugar plant will yield higher EBIDTA and profitability. We propose to implement the project in our wholly owned subsidiary company 'KPR Sugar and Apparels Limited' to avail the new tax benefits announced by the government, the company said in a statement after trading hours yesterday, 18 December 2020.

The project cost is estimated around Rs 500 crore, which will be funded by the combination of equity and debt. It is expected to be completed within a period of 10 to 12 months.

K P R Mill is one of the largest vertically integrated company with diversified business focus spanning across yarn, fabrics, garments and white crystal sugar. It manufactures a range of textile varieties such as readymade knitted apparel; fabrics; compact, melange, carded, polyster and combed yarn.

The company's consolidated net profit rose 3.1% to Rs 112.54 crore on 19.4% increase in net sales to Rs 905.85 crore in Q2 September 2020 over Q2 September 2019.

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TCNS Clothing Co. Ltd, Housing Development Finance Corporation Ltd, Castrol India Ltd, GE Power India Ltd are among the other stocks to see a surge in volumes on BSE today, 28 October 2020.

K P R Mill Ltd witnessed volume of 34864 shares by 10:54 IST on BSE, a 7.47 times surge over two-week average daily volume of 4668 shares. The stock increased 8.98% to Rs.737.50. Volumes stood at 3634 shares in the last session.

TCNS Clothing Co. Ltd notched up volume of 3836 shares by 10:54 IST on BSE, a 5.17 fold spurt over two-week average daily volume of 742 shares. The stock slipped 0.27% to Rs.374.95. Volumes stood at 753 shares in the last session.

Housing Development Finance Corporation Ltd registered volume of 7.7 lakh shares by 10:54 IST on BSE, a 4.47 fold spurt over two-week average daily volume of 1.72 lakh shares. The stock slipped 2.83% to Rs.1,981.35. Volumes stood at 80210 shares in the last session.

Castrol India Ltd saw volume of 3.15 lakh shares by 10:54 IST on BSE, a 3.8 fold spurt over two-week average daily volume of 82929 shares. The stock increased 7.81% to Rs.117.30. Volumes stood at 1.13 lakh shares in the last session.

GE Power India Ltd registered volume of 28233 shares by 10:54 IST on BSE, a 3.74 fold spurt over two-week average daily volume of 7548 shares. The stock slipped 4.40% to Rs.287.55. Volumes stood at 46427 shares in the last session.

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Net profit of K P R Mill rose 3.12% to Rs 112.54 crore in the quarter ended September 2020 as against Rs 109.14 crore during the previous quarter ended September 2019. Sales rose 19.41% to Rs 905.85 crore in the quarter ended September 2020 as against Rs 758.63 crore during the previous quarter ended September 2019.

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