According to the company, the lower turnover is owing to 30 per cent reduction is sales of sugar. However the supply of power to the grid registered a growth of 73 per cent over last year mainly due to increase in generation of power from the 18MW cogeneration plant at Pudukottai which was commissioned in March 2006.

During the year under review the sugar division generated a revenue of Rs556 crore with earnings before interest and tax of Rs 31 crore as against Rs80 crore for the previous year. The lower profit figure is mainly due to the depressed selling price of sugar in the second half of the year.

Part of the Murugappa group, EID Parry''s fifth sugar plant at Puducherry has commenced operations and achieved the rated production capacity within a short period of time. According to the company the projects to increase throughputs in the other four sugar units are progressing well and the total crushing capacity likely to be increased to 19500 tonne per day by year end.

During the year under review the company commissioned 22 MW cogeneration unit in Pugalur. With this the total capacity of cogen facilities will be at 65MW. Another cogeneration plant is currently under construction in Pettavaittalai.

The company''s bio-pesticides division and the nutraceuticals division earned a revenue of Rs26 crore and Rs11.12 crore respectively last year. for the year and earnings before interest and tax of Rs.2.93 crore.

The company''s board has recommended a final dividend of Rs1.40 per equity share (70 per cent) on equity shares of Rs2 each. With this the total dividend declared for the year is Rs5.90 per equity share (295 per cent) including the interim dividend of Rs4.50 (225 per cent).