Shree Renuka Sugars (SRSL) was established in 1995. In the year 1998 it acquired sick unit owned by Andhra Pradesh Government having a capacity of 1,250 TCD. Later SRSL shifted asset base of this acquired plant to its own production location at Munoli. This expanded the production capacity up to 2,500 TCD with 11.2 MW captive power plant. Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.

It added a distillery and ethanol unit of 60kl per day capacity in 2002. Today SRSL has manufacturing unit in Munoli, Athani and Havalgah located in Karnataka. It also has three leased unit operating in Ajara and Arag in Maharashtra and at Aland in Karnataka. Shree Renuka Sugars has a leadership position with 20% market share in the current fuel ethanol tenders by the oil marketing companies (IOC, HPCL, BPCL) and would supply a total of 217 million litres over a period of 3 years.

SRSL has largest sugar refining capacity in India producing 4,000 tons per day (TPD). Out of this two are located in Munoli and Athani producing 1,000 TPD each. Other is coming up in Haldia which has the capacity of 2,000 TPD.

The company in June 2010 completed the acquisition of a controlling stake of 50.34% in Equipav S.A. Açúcar e Álcool (“Equipav AA”), a Brazilian sugar and ethanol production company. Pursuant to the acquisition Equipav AA has become a subsidiary of the Company. The principal secured lenders have approved an acceptable debt restructuring package stretched over 10 years. Equipav AA consists of two very large and modern sugar/ethanol mills with significant captive plantations of sugarcane in Sao Paulo state in Southeast Brazil having a combined cane crushing capacity of 10.5 million tons of cane per annum (44,400 tcd). In addition, Equipav AA also has a bagasse-based power co-generation capacity of 203MW.

The Equipav investment brings Shree Renuka closer to building a global sugar and ethanol business combining the most cost-efficient and scalable production areas in the world along with a leading presence in the largest ethanol and sugar markets of the world.

Earlier on March 19, 2010 the Company completed the acquisition of Vale do Ivaí S.A. Açúcar e Álcool ('VDI') a sugar and ethanol production company located in Parana state of Brazil. That acquisition includes two sugar and ethanol production facilities located in the Southern state of Parana with a combined crushing capacity of 3.1 million tons per annum.

In November 2009 it has entered into definitive agreements for the acquisition of VALE DO IVAÍ S.A. AÇÚCAR E ÁLCOOL (“VDI”), a Brazilian sugar and ethanol production company. The acquisition includes two sugar and ethanol production facilities located in the Southern State of Parana with a combined cane crushing capacity of 3.1 million tons per annum. In addition, VDI holds strategic stakes in several logistics assets including terminals for storage and loading of sugar and ethanol at the port of Paranagua. Larger part of the sugarcane requirements at VDI are met through its own cultivation of more than 18,000 Ha of land on long lease. VDI has currently a third production facility in the State of Minas Gerais which shall be spun off to the current shareholders of VDI as a consideration for the acquisition.

The Enterprise Value of VDI is $ 240 million. SRSL shall acquire 100% of the equity capital of VDI for approximately $ 82 million and the balance is the assumed debt which is to be repaid over 8 years. The acquisition has received approval of leading creditors of VDI and the other remaining conditions are expected to be completed over the next 45 days. Motilal Oswal Investment Advisors is the Strategic Advisor to SRSL for this acquisition.

In June 2009 the company announced that it will expand its existing sugar refining capacity at its Athani unit in Karnataka from 1,000tpd to 2,000tpd and set up sugar refining capacity of 1,000tpd at its Havalga unit also in Karnataka. The plants are expected to be commissioned by December, 2009.With the commissioning of the above refineries, the company's sugar refining capacity will increase to 6,000tpd, which includes the 2,000tpd port-based sugar refinery at Haldia, West Bengal and 4,000tpd refining capacity at three of its integrated sugar mills in Karnataka'.

The Company also increased its equity stake in one of its subsidiary companies viz. KBK Chem-Engineering Pvt. Ltd., Pune in the year 2009, from 54% to 80.28%. KBK is an engineering Company, primarily engaged in providing turnkey solutions in the field of Distilleries, Ethanol plants and Bio-fuels'.

In 2008, the company announced that it will set up a new 700,000 tons per annum sugar refinery on the west coast of India. This 2,000 tons per day (tpd) capacity will be setup at a cost of Rs.350 Crores in the Mundra SEZ in Gujarat. The plant is expected to be commissioned by March 2010. The new refinery will increase the company’s sugar refining capacity to 6000tpd, which includes the 2,000tpd refinery at Haldia and the refining capacity at two of its integrated sugar mills in Karnataka.

Products portfolio of the company:

Sugar- This being the core product of the company, it manufactures EC II grade refined sugar confirming to EU norms (less than 45 ICUMS) it is the higher end products consumed by European and African Countries and is also used for Industrial purpose.

Power- Out of the by-products like Bagasse and molasses it generates power for captive consumption and sale to state grid. SRLS’s cogeneration capacity increased to 143 MW.

Ethanol- The company’s distillery capacity touched 930 KLPD (630 KLPD from molasses to ethanol and 300 KLPD from rectified spirit  to ethanol in the year 2008-09. As part of its focus on the fuel ethanol market, Shree Renuka Sugars Ltd. has acquired a standalone distillery of 100KLPD from Dhanuka PetroChem located at Khopoli, Maharastra for a consideration of about Rs 6 crores.

Bio fertilizers- The residue product from distillery operations blended with chemical are sold as Bio fertilizers.

Milestones:

In August 2006 Shree Renuka Sugars entered into an agreement with a large European utility company for the sale of about 11,500 CERs (Certified Emission Reductions) from their Munoli Project in Karnataka. The sale of the CERs was done through Agrinergy Ltd.

In May 2006 Shree Renuka Sugars  entered into a Memorandum of Understanding (MoU) for a period of 3 years with Copersucar, Brazil for supply of high quality raw sugar and allied technical support for the Company’s 2000 TPD port-based sugar refinery coming up at Haldia, West Bengal. Copersucar is Brazil’s largest sugar milling and marketing group and one of the largest sugar and alcohol producers in the World. It has 29 sugar mills, processing over 60 million tons of cane each year. It also owns and operates its own port terminal for exports.

2010 - The Company creates one of the largest Sugar / Ethanol Groups in Brazil with Equipav Deal.2011 - The Company announces Commissiong of Kandla Sugar Refinery.

2013
• Shree Renuka Sugars Limited inaugurates its first sugar depot in Guwahati, Assam.
2014
• Wilmar to acquire strategic stake in Shree Renuka Sugars Ltd.