Kesar Enterprises (KEL), formerly known as The Kesar Sugar Works, was established in August 1933 as part of the Kilachand Devchand group. The company, headquartered in Baheri, Uttar Pradesh, specializes in the production of sugar, spirit, ethanol, and bagasse-based power. Currently, it is under the leadership of Harsh R Kilachand, serving as the chairman-cum-managing director.
In September 1992, KEL initiated a rights issue (4:5) of 28.94 lakh 13.5% FCDs of Rs 30 each, totaling Rs 8.68 crore, to support the modernization and expansion of its distillery to manufacture extra neutral alcohol (ENA) and Indian-made foreign liquor (IMFL), with a project cost of Rs 10.40 crore.
The company's product range includes sugar, industrial alcohol, and country liquor, alongside large storage facilities for liquid bulk cargo. KEL previously had two subsidiaries, Amber Distilleries and Kesar Marble & Granites, with whom it established a 100% Export Oriented Unit (EOU) for granite processing. However, Kesar Marble & Granites ceased to be a subsidiary of KEL from July 11, 2002.
In 1999-2000, KEL entered into a Project Services Agreement with Mahindra Realty Infrastructure Developers Ltd (MRIDL), a subsidiary of Mahindra & Mahindra Ltd, for developing land in Goregaon, Mumbai, for residential and commercial purposes.
To enhance alcohol production capacity and quality, the company increased its license capacity from 13,092 KL/year to 16,365 KL/year, aiming for increased production starting from the current financial year.
In July 2006, KEL sold its entire investment in ADL, consisting of 1,40,000 equity shares, for Rs. 120 lakhs, along with repayment of a previously provided interest-free loan of Rs. 50 lakhs, leading to ADL no longer being a wholly-owned subsidiary of KEL.
On January 21, 2008, Kesar Terminals & Infrastructure Ltd. (KTIL) was incorporated as a wholly-owned subsidiary of KEL. The Bombay High Court approved a Scheme of Arrangement on March 12, 2010, for the demerger of the Storage Division of KEL into KTIL, effective from January 1, 2009.
The boiler erection at the Baheri distillery was completed in August 2010 and commissioned in September 2010. As per the sanctioned Scheme of Arrangement, KTIL allotted 47,53,113 fully paid-up Equity Shares of Rs.10/- each to KEL shareholders on June 1, 2010, resulting in KEL's post-allotment holding in KTIL reducing to 9.518%, thereby ceasing the Holding Subsidiary Relationship.
The 44 MW Bagasse-based Cogeneration Power Plant at Baheri was completed in July 2012, commencing commercial operations on October 1, 2012. Furthermore, effective from July 1, 2013, KEL merged its Agrotech Division into the Seed Division due to the surrender of surplus farm lands in June 2013.
In September 1992, KEL initiated a rights issue (4:5) of 28.94 lakh 13.5% FCDs of Rs 30 each, totaling Rs 8.68 crore, to support the modernization and expansion of its distillery to manufacture extra neutral alcohol (ENA) and Indian-made foreign liquor (IMFL), with a project cost of Rs 10.40 crore.
The company's product range includes sugar, industrial alcohol, and country liquor, alongside large storage facilities for liquid bulk cargo. KEL previously had two subsidiaries, Amber Distilleries and Kesar Marble & Granites, with whom it established a 100% Export Oriented Unit (EOU) for granite processing. However, Kesar Marble & Granites ceased to be a subsidiary of KEL from July 11, 2002.
In 1999-2000, KEL entered into a Project Services Agreement with Mahindra Realty Infrastructure Developers Ltd (MRIDL), a subsidiary of Mahindra & Mahindra Ltd, for developing land in Goregaon, Mumbai, for residential and commercial purposes.
To enhance alcohol production capacity and quality, the company increased its license capacity from 13,092 KL/year to 16,365 KL/year, aiming for increased production starting from the current financial year.
In July 2006, KEL sold its entire investment in ADL, consisting of 1,40,000 equity shares, for Rs. 120 lakhs, along with repayment of a previously provided interest-free loan of Rs. 50 lakhs, leading to ADL no longer being a wholly-owned subsidiary of KEL.
On January 21, 2008, Kesar Terminals & Infrastructure Ltd. (KTIL) was incorporated as a wholly-owned subsidiary of KEL. The Bombay High Court approved a Scheme of Arrangement on March 12, 2010, for the demerger of the Storage Division of KEL into KTIL, effective from January 1, 2009.
The boiler erection at the Baheri distillery was completed in August 2010 and commissioned in September 2010. As per the sanctioned Scheme of Arrangement, KTIL allotted 47,53,113 fully paid-up Equity Shares of Rs.10/- each to KEL shareholders on June 1, 2010, resulting in KEL's post-allotment holding in KTIL reducing to 9.518%, thereby ceasing the Holding Subsidiary Relationship.
The 44 MW Bagasse-based Cogeneration Power Plant at Baheri was completed in July 2012, commencing commercial operations on October 1, 2012. Furthermore, effective from July 1, 2013, KEL merged its Agrotech Division into the Seed Division due to the surrender of surplus farm lands in June 2013.
