The company was incorporated as a public limited company under the Companies Act, 1956 in the name of Vishwanath Sugars Limited vide Certificate of Incorporation dated May 02, 1995 with the Registrar of Companies, Bangalore. The company was granted the Certificate of Commencement of Business by the RoC, Bangalore on December 21, 1999. The name of company was subsequently changed to Vishwanath Sugar and Steel Limited and a Fresh Certificate of Incorporation dated December 28, 2010 was issued by the Registrar of Companies, Bangalore. The name of company was further changed to Vishwaraj Sugar Industries Limited vide Certificate of Incorporation dated November 29, 2012 granted by the Registrar of Companies, Bangalore.

Business area of the company:

The company is an integrated sugar and other allied products manufacturing company operating from Belgaum District in the State of Karnataka which is designated as one of the ‘High Recovery zones’ for sugar production by Government of India. In addition to sugar it also manufacture other allied products like Rectified Spirits, Extra-Neutral Spirits, Indian Made Liquor, Vinegar, Compost, Carbon dioxide (CO2), etc. and is further engaged in the generation of Power for captive consumption as well as external sale. The company’s business can hence be broken up into five main segments namely Sugar, Co-Generation, Distillery, Indian Made Liquor (IML) and Vinegar.

Major Events & Milestones:

1995: Incorporation of company.
1997: Letter of Intent issued by the Government of India.
1999: Grant of Certificate of Commencement of Business.
2000: Land award of 132 acres and 34 gunthas done by Government of Karnataka for the purpose of setting up of sugar factory and staff quarters.
2001: Commencement of commercial operations for Distillery segment.
2006: Commencement of commercial operations for the Sugar segment and Co-generation segment.
2008: Commencement of commercial operations for the Indian Made Liquor segment.
2009: Commercial operations of enhanced capacity of sugar unit and 2nd unit of co-generation power plant commenced.
2009: Industrial Entrepreneurs Memorandum approval for increase in production of white sugar to 1,21,000 TPA and a corresponding increase in Molasses to 44,000.
2011: Industrial Entrepreneurs Memorandum approval for increase in production of white sugar to 1,58,400 TPA and a corresponding increase in Molasses to 57,600 TPA.
2012: Industrial Entrepreneurs Memorandum approval for increase in production of white sugar to 2,42,000 TPA and a corresponding increase in Molasses to 88,000 TPA.
2015: Cessation of production of Indian Made Liquor at Yelahanka Unit.
2016: Commencement of commercial operations for the Vinegar segment.
2018: Began construction work for increase in capacity of the Distillery unit from 35 KLPD to 100 KLPD.

Market Cap	347 Cr	ROE	-8.7%
P/E Ratio(TTM)	0.0	EPS(TTM)	0.0
P/B Ratio	1.4	Dividend Yield	0.5%
Industry P/E	12.4	Book Value	13.1
		Face Value	2.0

Fundamentals