Bio Green Industries Ltd has announced that the Company's subsidiary M/s. Shivsagar Paper & Chemicals has stabilized its production after initial trial runs which began in the month of January 28, 2007.
For the Quarter ending March 31, 2007, the Company did a turnover of Rs 1.12 crores and Profit after Tax of Rs 3.35 lakhs. The said numbers were achieved during the trial production period. The Company's subsidiary has settled all its dues under One Time Settlement with State Bank of India. The Company also paid Rs 180 lakhs to SASF-IDBI as a part of its OTS.
The Company's Bio-Fuels division has began the Nursery Plantations and kick started its commercial operations in the quarter ending March 31, 2007, which has further now increased to an extent of 30 acres of land. The Company's Aqua Mineral Water Division under the brand name of "AQUA CHASTE" is poised for commercial launch during the current Quarter and currently undergoing through Quality Certifications for BIS approvals.
Commenting on the above, the CEO of the Company Mr. V Jagdish stated that, with our financial restructuring successfully getting completed under the able guidance of M/s. Firstcall India Equity Advisors Pvt Ltd., Mumbai, going forward we intend to further scale up our production with fresh infusion of funds from our strategic investors.
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Union Budget