Ponni Sugars (Erode) Limited has acquired a 50 TCD jaggery manufacturing unit located near Arachalur in Erode district for Rs 4.6 crores.
Ponni Sugars, in an exchange filing, informed: “The Company bid for acquiring a 50 TCD jaggery manufacturing unit located near Arachalur in Erode District in response to sale notice issued by Canara Bank under SARFAESI Act. We have by sale intimation letter dated 24th February 2025 been informed by Canara Bank that our bid for Rs 4.6 crores has been accepted.”
The acquisition is aimed at product diversification and at its current capacity may have no material bearing on the overall production or turnover of the company.
Ponni Sugars engages in the manufacture and sale of sugar. It operates in two segments, Sugar and Co-generation. The company is involved in provision of bagasse and molasses; and cogeneration of power. It also exports its products.
