Shree Renuka Sugars Limited is an Indian agribusiness and bio-energy company headquartered in Mumbai, Maharashtra. It is one of India's largest sugar refiners and a major producer of ethanol. The company is engaged in the manufacture of raw and refined sugar, the generation of power from bagasse-based cogeneration, and the distillation of ethanol and ethyl alcohol.
| Shree Renuka Sugars Limited | |
|---|---|
| Type | Public company |
| Industry | Sugar, ethanol, bio-energy |
| Headquarters | Mumbai, Maharashtra, India |
| Country | India |
| Products | Raw sugar, refined sugar, ethanol, ethyl alcohol, electricity (cogeneration) |
| Listings | BSE, NSE |
| Parent | Wilmar Sugar Holdings (majority shareholder) |
Background
The company was founded by the Murkumbi family in Karnataka and grew through the acquisition and modernisation of sugar mills in India's principal cane-growing belts. Its operations span sugarcane crushing, port-based refining of imported raw sugar, ethanol distillation, and the export of refined sugar. The firm operates mills in Karnataka and Maharashtra, and historically expanded internationally through acquisitions in Brazil, the world's largest sugar-producing country.
Operations
Sugar
Shree Renuka Sugars operates integrated sugar mills along with stand-alone port-based refineries that process imported raw sugar into refined white sugar for the Indian and export markets. The port-based refining model allowed the company to delink refining capacity from the cane crushing season.
Ethanol and distillery
The company is among the largest ethanol producers in India, supplying fuel-grade ethanol for blending with petrol under the Government of India's Ethanol Blended Petrol (EBP) Programme, as well as industrial alcohol and extra-neutral alcohol.
Cogeneration
Bagasse, the fibrous residue from sugarcane crushing, is used to generate electricity at the company's mills, with surplus power exported to state electricity grids.
International expansion
In the early 2010s, Shree Renuka Sugars acquired controlling interests in Brazilian sugar and ethanol producers, including Renuka do Brasil and Renuka Vale do Ivaí, making it one of the few Indian agribusinesses with significant operations in Brazil. The Brazilian subsidiaries later faced financial difficulties amid weak global sugar prices.
Wilmar International involvement
Singapore-based agribusiness major Wilmar International, through its subsidiary Wilmar Sugar Holdings, became a significant strategic investor in Shree Renuka Sugars and subsequently increased its shareholding to acquire majority control of the company following a debt restructuring exercise. Wilmar's involvement strengthened the company's links with global sugar trading and refining operations.
Significance
Shree Renuka Sugars is considered an important player in India's sugar economy due to its refining capacity, ethanol output, and integration with the country's biofuel policy. The company's port-based refineries contributed to India's emergence as a sugar exporter, while its ethanol distilleries support national targets for petrol-ethanol blending aimed at reducing crude oil imports and improving farmer incomes.
Related topics
- Sugar industry in India
- Ethanol Blended Petrol Programme
- Wilmar International
- Sugarcane in India
- Cogeneration
- Bombay Stock Exchange
- National Stock Exchange of India
References
- Wikidata entity: Q7503527
- Filings of Shree Renuka Sugars Limited with the BSE and NSE.