Shree Renuka Board declares Interim Dividend

Shree Renuka Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 30, 2009, inter alia, has transacted the following:

1. During the current year the Company has achieved 1.01 million MT of sugar production upto September 29, 2009, including 0.63 million MT out of refining operations. The Company has successfully completed its 10th season of sugar manufacturing and to commemorate the same, the Board has approved an interim dividend @ 50% i.e. Rs. 0.50 per equity share of face value of Re. 1/- each for the financial year ending September 30, 2009. Further, the Board has also approved one time special dividend @ 50% i.e. Rs. 0.50 per equity share of face value of Re. 1/- each on the equity shares of the Company.

2. The Company has acquired a ready to commission 30 MW co-generation power project at Panchganga in Maharashtra and other co-generation projects which are under development from its subsidiary, viz. M/s. Shree Renuka Energy Ltd. With commissioning of Panchganga co-generation power project, the exportable surplus power capacity of the Company will increase to 95 MW.

Since the complete co-generation assets have been transferred to the Company, the equity stake held by the Company in Shree Renuka Energy Ltd. has been divested and the company has ceased to be a subsidiary of the Company w.e.f. September 30, 2009.

3. The Company has approved the appointment of Mr. G. K. Sood as an Additional and Whole Time Director of the Company w.e.f. September 30, 2009.

4. Incorporated Shree Renuka Global Ventures Ltd as a subsidiary Company in Mauritius, for the Company's overseas acquisition plans.