Karnal, November 8: Aditi, manager of the cooperative sugar mill, stated that the 3500 TCD new refined sugar mill began its crushing season on April 8, 2021. Since then, the mill has achieved several milestones.
The mill's losses, which were ?105.33 crore in the 2021-22 financial year, have been reduced to ?53.51 crore in the 2024-25 financial year. Excluding interest on the Haryana government loan and machinery charges, the mill will have a cash profit of ?12.72 crore in the 2024-25 financial year.
She stated that this is the only cooperative mill in Haryana that has been paying for sugarcane within three days for the past several years. For the past two years, the mill has been paying farmers in full for their sugarcane on its own, without any government assistance. The loan it had taken from the Cooperative Bank to pay farmers for the 2024-2025 sugarcane season has also been fully repaid.
On the other hand, while the mill faced significant difficulties in maintaining machinery and paying employee salaries, requiring loans, it has now secured approval for ?5.00 crore (approximately $50 million USD), which is expected to reach ?15.00 crore (approximately $150 million USD) before the mill becomes operational. This has been made possible by the sale of electricity produced from our 18 MW co-generation plant, selling sugar at over ?4000 per kg of molasses and ?1250 per kg of molasses, resulting in a substantial reduction in expenses.
He said that this mill is the only one in Haryana that sells at the highest rate of 6.35, which gives the mill an additional income of 24 to 25 crore rupees from the sale of electricity during the season. This mill has also performed excellently in technical efficiency and has become the first mill in Haryana state to receive the first prize in technical efficiency at the national level three times in a row by the National Cooperative Sugar Factories Federation Limited, New Delhi.