EID Parry (India) Ltd., a prominent sugar producer in the South, is mulling to position itself as a leading bioenergy, food, and nutrition company, according to Chairman M.M. Venkatachalam, reports The Hindu.
In the latest annual report, Venkatachalam emphasized that this strategic repositioning would delink the company from the cyclicality and tightly regulated nature of the conventional sugar industry. This would empower it to compete and succeed based on the strength of its business model and capabilities.
The journey towards this transformation began a decade ago when the Murugappa group company embarked on diversifying its core business by incorporating non-sugar ventures. This strategic move was designed to unlock additional value, foster closer connections with consumers, and ensure the sustainability of operations.
“The steps taken in that direction have given the organisation a clear path that is now actively being pursued to ensure profitable and sustainable growth,” he further added.
